Download Fall 2015 Syllabus Course #: ECON-201

Fall 2015 Syllabus
Course #: ECON-201-02 Principles of Macroeconomics
Meriwether Lewis Hall (MLH), Room 130
Fall 2015 Tuesday & Thursday: 3:00 PM - 04:15 PM
Instructor: William E. Schlosser, Ph.D.
Senior Economics Faculty
Business Division
Lewis-Clark State College
Lewiston, ID 83501
TJH Room 206 (Thomas Jefferson Hall)
Office: 208-792-2511
E-mail: [email protected]
Office Hours: Tuesday & Thursday 9:00-10:00, 12:30-2:30,
Monday & Wednesday 10:30-12:00,
And by appointment
General Education Competency Area: Social and Behavioral Ways of Knowing
Textbook
Title:
"Economics"
Author: G.P. Hubbard and A.P. O’Brien
Publisher: PEARSON/Prentice Hall
Edition/Year: 5th/2015
ISBN: 013345544-1
Additional information: This textbook is required for the class.
General Education Learning Outcomes:
Upon successful completion of this course, you should be able to demonstrate the following
competencies:
1. Demonstrate knowledge of the theoretical and conceptual frameworks of economics as applied to
businesses in the USA, and how they interact with businesses in other countries, especially trading
partners.
2. Develop an understanding of self and the world by examining the dynamic interaction of individuals,
groups, and societies as they shape and are shaped by history, culture, institutions, and ideas through
business interactions, commodity and service trading.
3. Utilize Social Science approaches, such as research methods, inquiry, and problem-solving, to examine
the variety of perspectives about human experience using a variety of communication venues,
culminating with professionally written reports and presentations.
4. Evaluate how reasoning, history, and culture informs and guides individuals, civic, and global decisions.
5. Understand and appreciate similarities and differences among and between individuals, cultures, or
societies across space and time.
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ECON 201-02 Syllabus, Fall 2015
Course Specific Learning Outcomes:
This class emphasizes critical thinking and problem solving for Macroeconomics. It is accomplished by
using economic models with the goal of the students being able to relate the models to real world
economic events. Among other things, all students will:
1) Study the concept of scarcity of resources and opportunity cost.
2) Examine gross domestic product.
3) Discuss functions of money.
4) Review the Federal Reserve System in the US.
5) Explore the government monetary policy.
6) Review taxation.
7) Explore the government fiscal policy.
8) Discuss the international economic issues.
9) Learn the scientific method and quantitative analysis used in economic science.
The overall goal of this class is that you gain an understanding of macroeconomics and the ability to
apply the principles and models you learn to real world events.
Tips for succeeding in this class:
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Show up! I know it is a novel idea, but studies show that it works! You will also understand
the material better.
Ask questions. If you have the questions so will someone else.
Ask for help. I want you to learn and succeed in this class and I am here to help. I will
respond to emails quickly and be here before and after class if you have questions.
Take notes! If you write it down, then read it out loud 3 times, you will remember loads
more than if you just listen passively.
Read the chapters before coming to class and be prepared to discuss them.
Know that this is a class, you are here to learn, which means you may have the wrong
answer sometimes and that’s okay that’s how you learn.
Study! The quizzes are used to help you gage your level of comprehension, if you have a
hard time with a quiz it is a good indication you should study that topic more. You get
three attempts for each quiz, and history tells me that each attempt will increase your
score: there is no risk in your attempts; the highest score is promoted to the grade book.
But you need to complete your final attempt before the due date expires.
Search for resources outside the classroom. Personally, I use the web a bunch and mostly
find it to have good resources – not always, but the good sites are there! Be critical about
what you read, and decide what “it really means”.
Student Evaluation (Methods)
1) Chapter Assignments: There will be a homework assignment for each chapter to check your
understanding of information from lectures and the textbook. These assignments will count for
25% of your total grade. Homework assignments will be turned in through the Blackboard site on
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ECON 201-02 Syllabus, Fall 2015
or before the due date. Late homework assignments will not be accepted. Assignments will be
graded and returned before the first class session following the due date.
2) Chapter Quizzes: There will be a quiz at the end of each chapter to check general comprehension
of the material in the textbook and lectures. Quizzes are offered on the course Blackboard site for
each chapter; students can take three (3) on-line attempts for each quiz, with the highest quiz
score promoted to the gradebook. Quiz times are limited and must be completed in one session.
Quizzes cannot be made up, so every effort should be made to complete the quizzes on or before
the due-date. Quizzes will count for 20% of your total grade.
3) Term Paper: One written assignment will be assigned in association with textbook materials and
in-class lectures. This is a professional paper, requiring formatting, style, citations of references
made in your writing, and clear statements of position, reasoning, and conclusions made. This
paper should be about 10-25 pages single-spaced and include at least four references. A first draft
of the term paper will be submitted after mid-term week, with a final copy due on or before
December 9, 2015. The term paper will count for 20% of your total grade. You will be able to
select a topic for the paper from materials supplied for this phase of the course.
4) Exams: Two examinations – Midterm Exam (#1), and Final Exam (#2) will account for 35% of your
total grade. Exam #2 will be given on Thursday, Dec 17, 3:00 p.m. and last for 1 hour 50 minutes;
permission to take Exam #2 prior to Finals Week will not be granted.
Grades (The letter grades for the course will based on the following overall percentage received):
A
AB+
B
BC+
92-100
90-91
88-89
82-87
80-81
78-79
C
CD+
D
F
I
72-77
70-71
68-69
60-67
59 & Below
See Catalog
Every effort will be made by this instructor to return graded assignments, quizzes, and exams on the
first class period following their submission.
Course Schedule
Course tasks must be coordinated with scheduled due dates for the entire class, and scheduled exams for the
class (no modification of exam dates). The intended progression of tasks for each chapter is scheduled thus:
1. Read the Chapter (as many times as you want)
2. Attend and participate in the class lectures
3. Complete and submit answers for the Chapter’s questions, turned in through the Blackboard site.
4. Take the non-proctored chapter quiz online; up to 3 quiz attempts can be taken for each chapter, with
the highest score promoted to the grade book.
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ECON 201-02 Syllabus, Fall 2015
The course schedule has been designed to progress through one chapter each class session. Breaks are
arranged around mid-term and finals weeks, and scheduled holidays (Thanksgiving). The term paper draft is
due after mid-term week, and the final paper is due during the first week of December.
Class Schedule (Generally two Chapters per Week, sometimes one)
Chapter 1 - Economics: Foundations and Models
Chapter 2 – Trade-offs, Comparative Advantage, and the Market System
Chapter 3 – Where Prices Come From: The interaction of Supply and Demand
Chapter 4 – Economic Efficiency, Government Price Setting, and Taxes
Chapter 7 – The Economics of Healthcare
Chapter 8 – Firms, the Stock Market, and Corporate Governance
Chapter 9 – Comparative Advantage and the Gains from International Trade
Chapter 12 – Firms in Perfectly Competitive Markets
Chapter 13 – Monopolistic Competition
Chapter 14 – Oligopoly; Firms in Less Competitive Markets
Chapter 15 – Monopoly and Antitrust Policy
Chapter 16 – Pricing Strategy
Midterm Exam – (20% of your total grade)
Chapter 19 – GDP: Measuring the Total Production and Income
Chapter 20 – Unemployment and Inflation
Chapter 21 – Economic Growth, the Financial System, and Business Cycles
Chapter 22 – Long-Run Economic Growth: Sources and Policies
Chapter 23 – Aggregate Expenditure and Output in the Short-Run
Chapter 24 – Aggregate Demand and Aggregate Supply Analysis
Chapter 25 – Money, Banks, and the Federal Reserve System
Chapter 26 – Monetary Policy
Chapter 27 – Fiscal Policy
Chapter 28 – Inflation, Unemployment, and Federal Reserve Policy
Chapter 29 – Macroeconomics in an Open Economy
Chapter 30 – The International Financial System
Third Exam – Finals Week (15% of your total grade)
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ECON 201-02 Syllabus, Fall 2015
Planned dates for each chapter; due dates for assignments and quizzes, term paper draft and final
report, mid-term and final exam scheduled dates.
Chapter
Initiation
Introductions
Chapter 1 - Economics: Foundations and Models
Answers
Quiz
8/25/2015
8/25/2015
8/30/2015
8/30/2015
Chapter 2 – Trade-offs, Comparative Advantage, and the Market System
9/1/2015
9/6/2015
9/6/2015
Chapter 3 – Where Prices Come From: The interaction of Supply and Demand
9/3/2015
9/6/2015
9/6/2015
Chapter 4 – Economic Efficiency, Government Price Setting, and Taxes
9/8/2015
9/13/2015
9/13/2015
Chapter 7 – The Economics of Healthcare
9/10/2015
9/13/2015
9/13/2015
Chapter 8 – Firms, the Stock Market, and Corporate Governance
9/15/2015
9/20/2015
9/20/2015
No Class (Division Meeting)
9/17/2015
Chapter 9 – Comparative Advantage and the Gains from International Trade
9/22/2015
9/27/2015
9/27/2015
Chapter 12 – Firms in Perfectly Competitive Markets
9/24/2015
9/27/2015
9/27/2015
Chapter 13 – Monopolistic Competition
9/29/2015
10/4/2015
10/4/2015
Chapter 14 – Oligopoly; Firms in Less Competitive Markets
10/1/2015
10/4/2015
10/4/2015
Chapter 15 – Monopoly and Antitrust Policy
10/6/2015
10/11/2015
10/11/2015
Chapter 16 – Pricing Strategy
10/8/2015
10/11/2015
10/11/2015
Catchup Day
Midterm
10/13/2015
Term Paper Draft
Chapter 19 – GDP: Measuring the Total Production and Income
10/18/2015
10/20/2015
10/25/2015
10/25/2015
Chapter 20 – Unemployment and Inflation
10/22/2015
10/25/2015
10/25/2015
Chapter 21 – Economic Growth, the Financial System, and Business Cycles
10/27/2015
11/1/2015
11/1/2015
Chapter 22 – Long-Run Economic Growth: Sources and Policies
10/29/2015
11/1/2015
11/1/2015
Chapter 23 – Aggregate Expenditure and Output in the Short-Run
11/3/2015
11/8/2015
11/8/2015
Chapter 24 – Aggregate Demand and Aggregate Supply Analysis
11/5/2015
11/8/2015
11/8/2015
Chapter 25 – Money, Banks, and the Federal Reserve System
11/10/2015
11/15/2015
11/15/2015
Chapter 26 – Monetary Policy
11/12/2015
11/15/2015
11/15/2015
Chapter 27 – Fiscal Policy
11/17/2015
11/20/2015
11/20/2015
Chapter 28 – Inflation, Unemployment, and Federal Reserve Policy
11/19/2015
11/20/2015
11/20/2015
Chapter 29 – Macroeconomics in an Open Economy
12/1/2015
12/5/2015
12/5/2015
Chapter 30 – The International Financial System
12/3/2015
12/5/2015
12/5/2015
Term Paper Due
Term Paper Presentations (2 sessions)
Final Exam: 3:00 pm
12/5/2015
12/8/2015
12/17/2015
Dates for the mid-term and final exam are “hard dates”. The exams must be taken on these days. Quizzes can
be taken online on or before the due dates, but not after. Late assignments are not accepted.
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ECON 201-02 Syllabus, Fall 2015
LEWIS-CLARK STATE COLLEGE Syllabus Addendum
Consumer Information
In 2008, the federal government required all post-secondary institutions offering federal financial aid programs to provide key data
to both prospective and current students. To comply with this requirement, Lewis-Clark State College has developed a consumer
information page, which may be accessed at http://www.lcsc.edu/consumer-information/
Disability Accommodations
Students requiring special accommodations or course adaptations due to a disability and/or a health-related issue should consult
their course instructors and the LCSC Student Counseling Center immediately (RCH 111, 792-2211). Official documentation may be
required in order to provide an accommodation and/or adaptation.
Student Rights and Responsibilities
Students have the responsibility for knowing their program requirements, course requirements, and other information associated
with their enrollment at LCSC. Students should review the LCSC General Catalog (http://webdev.lcsc.edu/catalog and the LCSC
Student Handbook (http://www.lcsc.edu/media/2157659/Student-Handbook.pdf ) for more information.
Accidents/Student Insurance
Students participating in LCSC classes normally must look to their personal health insurance policy (Student Health Insurance Plan or
comparable private coverage) should an accident occur. In the event of an accident, please seek medical help, if necessary, and
report the incident to LCSC Security (792-2226). Fieldtrips or other special student activities may also require students to submit a
signed participation waiver (forms can be obtained from the supporting Division Office).
Enrollment Verification/Attendance
Students who are not actively pursuing their classes may have to repay part or all of their financial aid awards depending upon the
circumstances.
Academic Dishonesty
Academic dishonesty, which includes cheating and plagiarism, is not tolerated at LCSC. Individual faculty members may impose their
own policies and sanctions regarding academic dishonesty after offering the student an opportunity to explain his or her actions.
Sanctions imposed by the faculty member are limited to grades on the assignment(s) in question and/or on the course grade. On
matters of academic dishonesty, faculty members do not have the authority to dismiss a student from class indefinitely nor to
disenroll a student from a program without corroboration from a Division Chair (or program ethics committee where applicable), the
appropriate instructional dean, and the Vice President for Student Affairs. Students who are accused of being academically
dishonest may be referred to the VP for Student Affairs for official disciplinary action.
Illegal File Sharing
Students using LCSC’s computers and/or computer network must comply with the college’s appropriate use policies and are
prohibited from illegally downloading or sharing data files of any kind. Specific information about the college’s technology policies
and its protocols for combating illegal file sharing may be found on the VP for Student Affairs’ web page
(http://www.lcsc.edu/student-affairs/student-code-of-conduct/ ).
Diversity Vision Statement
Regardless of race, color, age, sex, religion, national origin, disability, veteran status, or sexual orientation, you will be treated and
respected as a human being.
Disclosures
During this course, if you elect to discuss information with me which you consider to be sensitive or personal in nature and not to be
shared with others, please state this clearly. Your confidentiality in these circumstances will be respected unless upholding that
confidentiality could reasonably put you, other students, other members of the campus community, or me in danger. In those cases
or when I am bound by law to report what you have told me, such as incidents involving sexual assault or other violent acts, I will
submit a report to appropriate campus authorities.
Student Feedback
Students shall be provided the opportunity to formally evaluate each course in which they are enrolled. Notification of student
feedback opportunity and timelines will be made through the official LCSC student email (currently LCMail) or online course learning
management (currently Blackboard Learn) systems.
Student Work
Student work for this course (assignments, quizzes, exams, projects, etc.) may be copied and retained for program assessment or
accreditation purposes. For more information, speak with the instructor or division chair.
Approved by VP for Student Affairs & Provost 7/07/2015
CPC Worksheet
Component
Hours
A. Accounting (ACT)
3
B. Marketing (MKT)
0
C.
3
Finance (FIN)
D. Management
1.
Management principles (MGT)
0
2.
Organizational Behavior (OB)
0
3.
Human Resource Management (HRM)
0
4.
Operations Management (OR)
0
Total Management
E.
0
Economic/Social/Legal Environment
1.
Legal Environment of Business (LAW)
2.
Economics (ECN)
3.
Business Ethics (ETH)
Total Economic/Social/Legal Environment
F.
0
42
0
42
Decision-Support Tools
Total Decision-Support Tools
G. Global Dimensions of Business (GLOB)
H. Integrative Experience (INT)
Total Contact Hours
1.
Information Systems (IS)
2.
Quantitative Methods/Statistics (QM)
0
1.5
1.5
1.5
0
45