Survey
* Your assessment is very important for improving the workof artificial intelligence, which forms the content of this project
* Your assessment is very important for improving the workof artificial intelligence, which forms the content of this project
COURSE OUTLINE Principles of Macroeconomics Silver Core Curriculum Template Professor Mark Pingle February 10, 2015 ECON 103 - Principles of Macroeconomics Sec. 1001, TR 11:00 AM - 12:15 PM Professor Mark Pingle Office: AB 319C Office Hours: MW 10:00 - 1100 AM Course Description: This “core” social science course for the University of Nevada introduces the student to macroeconomics. Macroeconomics is a branch of economics that focuses on the economic system as a whole. Upon successfully completing this course, the student will have an elementary understanding of (1) US macroeconomic history since the beginning of the Great Depression, (2) how a market economy works, and (3) how government can influence a market economy. Core Social Science (CO6) and Development of CO1 and CO3: This class fulfills the core social science requirement: “Students will learn how to systematically analyze human social conditions (e.g., individuals, groups, communities, and cultures). In particular, students will learn to observe, theorize, model, experiment, and/or interpret as a means of inquiring into human social relations.” This course also develops CO1 (effective communication and composition) and CO3 (critical analysis and use of information) through requiring effective communication in writing (in assignments and on exams) and through requiring critical thinking and critical analysis (in assignments and on exams). Required Course Materials: (1) US Macroeconomic Statistics: A Set of Figures and Data Tables to Supplement a Macroeconomics Course, Mark A. Pingle, 19th Edition, 2014. (2) Principles of Macroeconomics, Mark A. Pingle, 2014. Grading: 20% Midterm 1 20% Midterm 2 35% Final: Monday, December 15; 10:15-12:15 PM 15% Assignments---Three assignments, each of equal weight 5% Quizzes 5% Participation Penalties for Irresponsible Behavior: As a student, learning is your job, a job you should take seriously. Irresponsible behavior will impact your course grade in the following ways: • • • Assignments turned in late will be docked one letter grade per class period until they are received. Each student must turn in all 3 assignments. If an assignment is not received, then the will receive an F course grade. Attendance will not be taken each class, but participation points will be lost if you are absent when attendance is taken. Assignments: The first assignment involves applying some “data manipulation techniques,” which allow you to learn more from a set of data. The second assignment is a writing assignment, given to help you develop your writing skills in an economic context. The third assignment allows you to practice using a macroeconomic model that will be used extensively at the end of the course to describe how the economy works and to predict the impacts of various economic policies. Quizzes: You will be given regular quizzes through Web Campus on the vocabulary found in your reading. Participation: The most significant factor determining how much you will learn is the extent to which you seek to make economic ideas your own, incorporating them into your understanding of the world. Participation is a key to making the ideas your own. Participation includes, o Attending class o Doing practice problems o Asking questions: This is your primary job as a student. Ask about what is not clear from the reading, about a homework problem you do not understand, about something you observe in everyday life. 1 Posting items to Web Campus discussion board and reading what others have posted. Coming to class prepared, which means you have read the assigned readings, done any problems given for practice, and are read up on current events through the Wall Street Journal editorial page or some other editorial source. o Participating when specific opportunities to earn participation credit are offered (e.g. guest speaker on campus) Core Curriculum: This course meets the Social Science requirements of the University’s current Core Curriculum. In the new Silver Core starting Fall 2016, this course will satisfy CO6 (Cultures, Societies & Individuals): Students will learn how to systematically analyze human social conditions (e.g., individuals, groups, communities, and cultures). In particular, students will learn to observe, theorize, model, experiment, and/or interpret as a means of inquiring into human social relations. This course will also develop discipline-specific competency in both CO2 (Quantitative Reasoning) and CO3 (Critical Analysis & Use of Information). o o Student Learning Outcomes: • Using data, and various quantitative techniques for presenting and analyzing data, students will demonstrate the ability to describe observed macroeconomic phenomena. • Using supply and demand modeling and other theoretical tool, students will demonstrate the ability to provide explanations (i.e. provide theories) for the observed changes in macroeconomic data. • Students will demonstrate the ability to critically analyze the macroeconomic policies government might use to stabilize the economy or promote economic growth. ACADEMIC DISABILITY: Any student with a disability needing academic adjustments or accommodations is asked to speak with me or the Disability Resource Center (Thompson Building Suite 100) as soon as possible to arrange for appropriate accommodations. Academic Success Services: Your student fees cover usage of the Math Center (784-4433 or www.unr.edu/mathcenter/), Tutoring Center (784-6801 or www.unr.edu/tutoring/), and University Writing Center (784-6030 or http://www.unr.edu/writing_center/). These centers support your classroom learning; it is your responsibility to take advantage of their services. Keep in mind that seeking help outside of class is the sign of a responsible and successful student. Math Prerequisite and Competency: The prerequisite for ECON 103 is completion of the Core Math requirement, an ACT of 22, an SAT of 500, or concurrent registration in MATH 126 or higher. Success in economics requires competency in basic math skills Grading Scale: Grades will be reported regularly on Webcampus according to a four point scale (4.0=A, 3.0=B, 2.0=C, 1.0=D, and 0.0=F) with one decimal place. Your course grade will be converted back into a letter grade, with +/-, at the end of the semester. Academic Integrity: Students are expected to adhere to the ethical code as described in the UNR Student Handbook, and you commit to these principles by enrolling in this class. Academic dishonesty in any form is unacceptable, and penalties range from failing the exam or assignment to being dismissed from the university. We consider any violation of academic integrity to be a very serious matter. Audio and Video Recording: Unauthorized video or audio recordings of this class is prohibited by law and the Board of Regents. This class may be recorded only with the written permission of the instructor, and only for personal use. In order to accommodate students with disabilities, some students may have been given permission to record class lectures and discussions, and student comments during class may thus be recorded. Salient Economic Ideas: Among the many ideas discussed in the course, these economic ideas are labeled here as being particularly significant. You will be tested on these, and much focus will be placed upon these in class. 1. 2. 3. 4. 5. 6. 7. 8. Opportunity cost Specialization and trade Trade is mutually beneficial Invisible Hand Arbitrage Price system Burden of debt Availability of credit 2 9. Production and its relationship to income and wealth 10. Law of diminishing returns 11. Competition and its relationship to technological improvement 12. Classical theory of income distribution 13. Inflation tax 14. Effect of inflation on debtors and creditors 15. Importance of saving 16. Investment and its relationship to saving and capital stock 17. Autonomous spending multiplier 18. Principles of insurance Lectures and Assignments: Each class will begin with an opportunity for students to ask questions, and there will be a current events discussion at the beginning of most classes. Students are expected to read at least one current periodical (e.g. Wall Street Journal, Newsweek) regularly. Those students who participate more regularly in class discussions will receive more credit toward the participation portion of the course grade. Most of the assignments in the “Assignments Due” column are reading assignments. CH refers to the “classnotes,” Fig. refers to the Statsbook., and the symbols I1, I2, I3,… refer to Salient Economic Ideas. Date 8/25 8/27 Topic Economics as Social Science: What is economics? Origins of market system 9/1 9/3 9/8 Labor Day; No Class Model market and command economies Data presentation and production facts Assignment 1 given Expenditure and income components of output The role of government Economic performance; Major macro concerns Preparing for Model Building Production: The source of wealth Labor productivity measures (and marginal thinking) Production Possibilities and the concept of cost Review for first midterm First Midterm Labor Demand Labor Supply Labor Market Assignment 2 given Labor Market Shocks The Aggregate Supply Curve The Dynamic Supply-Side Barter Money The Federal Reserve and Money Money Supply and Money Demand Classical Monetary Theory Keynesian Monetary Theory Review for second midterm Second Midterm The Circular Flow Catch up Day Consumption, Savings, and Investment 9/10 9/15 9/17 9/22 9/24 9/29 10/1 10/6 10/8 10/13 10/15 10/20 10/22 10/27 10/29 11/3 11/5 11/10 11/12 11/17 11/19 11/24 11/26 Assignment Due None; I1, I2 CH1 CH2 2.1-2.2; I3, I4 None CH2 2.3-2.4; I5, I6 Fig 1-4 and App. B in Statsbook; Statsbook Table 3 and Fig 5, 6, 9-12 Fig 33-43; I7, I8 CH3; Fig 20, 21, 28, 48-50 Appendix: “Mathematical Tools” CH4 4.1-4.4; Fig 7-8, 15-16; I7; Assign 1 CH4 4.5; Fig 19, 44-47; I9, I10 CH4 4.6 None None CH5 5.1; Fig 23; I11, I12, I13, I14 CH5 5.2; CH5 5.3.1-5.3.2 CH5 5.3.3-5.4 CH6 6.1-6.2 CH6 6.3-6.5 CH7 7.1 CH7 7.2-7.3; Fig.29-32 CH7 7.4 CH8 8.1-8.2; Assignment 2 CH8 8.3 CH8 8.4-8.5; Fig 21 None None CH9 9.1; Fig 5-10 None CH9 9.2; Fig 11-14; I15 CH9 9.3; Fig 17-18; I16 The Aggregate Demand Curve Laissez Faire Adjustments Monetary Policy Fiscal Policy---Government Purchases Assignment 3 given Fiscal Policy---Net Taxes CH9 9.4 CH10 10.1 CH10 10.2.1; I17 CH10 10.2.2 CH10 10.2.3 3 12/1 12/3 12/8 12/10 12/15 Monetary Policy Fiscal Policy---Government Purchases and Net Taxes An increase in population Capital accumulation and tech. improvement Insurance and gambling Prep Day: Special Review Session for Final Final; 10:15-12:15PM 4 CH10 10.3.1 CH10 10.3.2-10.3.3 CH10.3.5 CH10 10.3.3-10.4; Assignment 3 None; I18 Attendance not required