Download Course Information Sheet for

Course Information Sheet for
Principles of Macroeconomics (Economics 2301) Sections 01, 02, and 03
Fall Semester, 2009
Instructor: C. Conway Drane
Office: #126, Bob Bullock Center for Business and Computer Science
Phone: (979) 830-4233
e-mail: [email protected]
Office hours:
Monday and Wednesday
9 a.m. – 11a.m.
1:30 – 2:30 p.m.
Tuesday and Thursday
11a.m. - noon
1:00 p.m. – 4 p.m.
Friday
9a.m. – noon.
1 – 4p.m. by appointment
Course Description: A study of macroeconomic principles with emphasis on national
income analysis and theory, monetary and fiscal policy, stabilization policy, economic
growth and development, and public finance. Three class hours per week. Credit: Three
semester hours.
There are no prerequisites for the course.
Course Objectives and Student Learning Outcomes:
1. Explain the basic economic concepts of scarcity, allocation of resources,
specialization, comparative advantage, and exchange rates.
2. Evaluate the existence, shape, and the shifting of the economy’s production
possibilities frontier.
3. Explain the relationship between supply and demand and the determination of
equilibrium price and quantity.
4. Describe the circular flow of income and product.
5. Assess how the national income accounts measure the level of economic output
and income.
6. Use the Aggregate Expenditures Model and the Aggregate Demand/Aggregate
Supply Model to determine the level of economic activity.
7. Explain how the Federal Reserve System works.
8. Explain how monetary policy can be used to stimulate the economy or fight
inflation.
9. Describe how fiscal policy can be used to stimulate the economy or fight
inflation.
10. Analyze the mechanics of international trade.
Required textbooks, supplies, and materials:
The textbook for the course is Economics Today, The Macro View, and The Micro View,
14th edition by Roger LeRoy Miller. If you are only planning to take Econ. 2301, you
could make do with the paperback text that is only the “Macro View”. For each major
exam, the student will need a Scantron, form number 882-ES, and No. 2 pencil.
I suggest that you bring a notebook and pen to class for taking notes. A simple, four
function calculator will be useful at times.
Course Outline:
Time
Planned Activity
1st meeting
1st 4 weeks
Introduction to the course, handouts, discussion.
Chapters 1 through 6 in the textbook will be covered. Topics include
Scarcity and decisions that have to be made, often used assumptions,
Economic Models, Trade-offs, Comparative Advantage, and the Market
System, Demand and Supply and Market Price, Economic Efficiency,
Government Price Setting, and Taxes, Consumer Surplus and Producer
Surplus. The first major exam will occur when we have covered these
chapters.
Weeks 5 - 9 Lecture and discussion of material covered in chapters 7 through 12 in the
textbook. Topics include GDP, Measuring the nation’s total output and
income, Unemployment and Inflation, Economic Growth, Business
Cycles, the Keynesian Aggregate Expenditure Model, Aggregate Demand
and Aggregate Supply. The second major exam will occur when we have
covered these topics.
Weeks 10 - 12 Lecture and discussion over selected topics covered in chapters 13
through 18. Topics include Money and Banking, Fractional Reserve
Banking systems and Money Creation, Monetary Policy, Fiscal Policy.
The third major exam will occur when we have covered these topics.
Weeks 12 - ?? Lecture and discussion over material covered in chapters 19, 33 and 34 in
the textbook. Topics include Comparative Advantage and the Open
Economy, Exchange Rates and the Balance of Payments, Global
Economic Growth and Development.
Review for comprehensive Final Exam.
The final exam date and time will be announced later.
Note: The time allotted for the coverage of the topics listed above is a tentative schedule.
We might find that some topics will require additional time while others could take less
time.
Requirements: Students will be expected to read the assigned chapters in the textbook
so that they may come to class prepared to take notes and participate in class discussion.
In addition to the three major exams and the final exam noted above, there will be short
exams and homework assignments from time to time to help the student master the
material.
Grading: As noted above, there will be three major exams and a comprehensive final
exam. There will also be some number of short exams, problems worked in class, and
graded homework assignments. The average of your three major exams and final exam
will count as 90 percent of your course grade. The average of your grades on short
quizzes, problems worked in class and homework assignments will count as 10 percent of
the course grade and is the “class participation” part of your grade. There will be
opportunities to earn bonus points or “extra credit” on certain exercises and questions on
major exams.
Class Policies:
1. Attendance. Students are expected to attend all class meetings and to be in their seat,
ready to start work at the scheduled time for class to begin. A record is kept of
absences and tardiness. If an absence cannot be avoided, it is the student’s
responsibility to find out what work was covered and what assignments were made
while the student was away from class. It is also the student’s responsibility to tell
the instructor the reason for the absence so that he may determine whether it was an
“excused” absence or not. Habitual, unexcused tardiness will be recorded treated as
absences. The equivalent of two weeks of unexcused absences (6 50 minute classes or
4 hour and 15 minute classes) will result in an administrative drop from the class. If
this occurs after the last day to drop with a “W”, a “WF” will be recorded. Note also
that new state law limits the number of drops a student may have to a total of 6 during
his/her college career. After 6, every drop will be recorded as an “F”. Additional
information about the Blinn Attendance Policy is found on the attendance attachment.
2. Make-up exams and late assignments. If a student anticipates the necessity of being
absent on the day of a scheduled exam, he should see the instructor about the
possibility of taking the exam early. Otherwise, if a student misses a major exam, he
should see the instructor about taking a make-up exam at the earliest opportunity.
Make-up exams must be taken within one week of the student’s return to class.
Missed short exams cannot be made up and late homework assignments are not
accepted without an approved excuse. The instructor may deduct 10 points from the
grade on work allowed to be turned in late. The lowest minor exam grade is dropped
at the end of the semester.
3. Classroom behavior. Students are expected to dress appropriately for class and be on
time for class. The student’s attention should be on the instructor and/or the work
being done. Food and drink is not allowed in the classroom. Gentlemen will remove
their hats in the classroom. Any behavior or demeanor that is distracting or disruptive
will not be tolerated. All functions of all personal electronic devices designed for
communication and/or entertainment (cell phones, pagers, beepers, iPods, and similar
devices) must be turned off and kept out of sight in all Blinn College classrooms and
associated laboratories. Certain students (firemen, police, e.m.s.) are exempt from
this policy. See the instructor if you believe you should be exempt. Exempt students
should set the emergency-use device on silent or vibrate.
Students should come to class prepared and should make an effort to participate
constructively. Students will contribute to a positive learning environment by treating the
instructor and fellow students in a respectful manner. Students who cannot behave
appropriately will be removed from class (see the Civility Statement below).
4. Academic honesty. Cheating will be dealt with according to Blinn College policy.
Additional Notes: During the first class meeting, I will discuss some of the keys to doing
well in an economics course. These include using the textbook to prepare for class, being
careful to learn definitions of terms, learning cause and effect relationships, etc. I
encourage you to take advantage of my office hours to seek help as soon as you find that
you need it. There are many benefits to be had from successfully completing this course.
Not the least of which is your being prepared to take more advanced economics courses
at the senior college of your choice. I look forward to working with you this semester.
Civility Statement: Members of the Blinn College community, which includes faculty,
staff and students, are expected to act honestly and responsibly in all their actions and
words. Therefore, all members should commit themselves to behave in a manner that
recognizes personal respect and demonstrates concern for the personal dignity, rights, and
freedoms of every member of the College community, including respect for College
property and the physical and intellectual property of others.
If a student is asked to leave the classroom because of uncivil behavior, the student may
not return to that class until he or she arranges a conference with the instructor: it is the
student’s responsibility to arrange for this conference.