SYLLABUS FOR MACROECONOMICS 2301
HCCS SOUTHWEST COLLEGE
FALL 2011 – REGULAR TERM 16 WEEKS
INSTRUCTOR: R. B. WAGNER
B.S. MACALESTER COLLEGE
M.B.A. INDIANA UNIVERSITY
E-mail:robert.wagner@hccs.edu
TEXT AND MTLS:
ECONOMICS, ROGER A. ARNOLD 10TH ED.,
SOUTH-WESTERN PUBLISHING, 2011. WEBSITE allows access to
specific content and real- world applications, TUTORIALS AND
HOMEWORK ASSIGNMENTS @ www.cengage.com direct purchase of
course materials available @www.cengagebrain.com
OBJECTIVES OF THE COURSE:

PROVIDE A WORKING KNOWLEDGE OF THE AMERICAN ECONOMY
AS IT RELATES TO SOCIAL AND INDIVIDUAL WELFARE.

GAIN AN UNDERSTANDING OF BASIC ECONOMIC CONCEPTS AND
THEORIES AND HOW THEY EFFECT DOMESTIC AND
INTERNATIONAL MARKETS.
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LEARN THE RELATIONSHIP OF MONETARY AND FISCAL POLICY
CONCEPTS AS TOOLS FOR SOLVING ECONOMIC PROBLEMS IN
TODAYS WORLD.

DEVELOP THE ABILITY TO INTEGRATE ECONOMIC CONCEPTS
WITH THOSE OF OTHER SOCIAL SCIENCES IN ORDER TO
ANALYZE AND SOLVE PROBLEMS RELATED TO BUSINESS,
GOVERNMENT AND THE INDIVIDUAL.

GAIN EXPERIENCE IN SPEAKING BEFORE OTHERS THROUGH
CLASS PROJECTS AND DISCUSSONS.

DEVELOP BASIC COMPUTER SKILLS THROUGH INTERNET
ASSIGNMENTS AND PROJECTS.

UTILIZE WRITING AND MATH SKILLS THROUGH WRITTEN
ASSIGNMENTS, AND QUANTITATIVE PROBLEM SOLVING.
STUDENT REQUIREMENTS:

COMMITTMENT TO ATTEND CLASS.

TAKE NOTES AND PARTICIPATE IN DISCUSSIONS.

COMPLETE READING ASSIGNMENTS PRIOR TO CLASS.

COMPLETE ALL ASSIGNED HOME WORK ON TIME.

REVIEW LECTURE NOTES AFTER EACH CLASS.

READ A DAILY PAPER.
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ASK QUESTIONS AND KEEP CURRENT ON ECONOMIC NEWS.
PERFORM AT A COLLEGE SOPHMORE ACADEMIC LEVEL
CONDUCT YOURSELF ACCORDING TO COLLEGE POLICY.
GRADING BASIS:
THREE TEST GRADES WILL COUNT TOWARD 50% OF YOUR FINAL
GRADE. HOMEWORK PROJECTS 15%, PARTICIPATION 10%, FINAL
EXAM WILL REPRESENT 25% OF YOUR FINAL GRADE.
NO EXTRA CREDIT WILL BE AVAILABLE
GRADE BASIS -
A=90-100%
B=80-89
C=70-79
D=60-69
F=<60
CLASS SCHEDULE:
CRN 54881
CRN 53853
CRN 53854
CRN 53852
MW 8 – 9:30 AM 01 WLOP
TR 9:30 – 11 224 STAFF
TR 11- 12:30 320 STAFF
TR 12:30-2 PM 321 STAFF
POLICIES:
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UNEXCUSED ABSENCES IN EXCESS OF NINE HOURS WILL
RESULT IN A “W” AS A FINAL GRADE.
LATE ASSIGNMENTS WILL NOT BE ACCEPTED.
NO MAKE-UP EXAMS WILL BE GIVEN WITHOUT AN
EXCUSE ACCEPTABLE TO THE INSTRUCTOR.
ALLOWED MAKE-UPS WILL BE ADMINISTERED AT THE TIME
SET BY YOUR INSTRUCTOR.
STUDENTS ARE RESPONSIBLE FOR DROPPING THE COURSE BY
COMPLETING ALL NECESSARY PAPER WORK, FAILURE TO DO
SO MAY RESULT IN AN “F”.
COUNSELING AND TUTORIALS ARE AVAILABLE PLEASE SEE
ME TO MAKE ARRANGEMENTS.
INCOMPLETES WILL BE GIVEN ONLY WHEN TWELVE WEEKS OF
COURSE WORK HAVE BEEN SUCCESSFULLY COMPLETED AND
PROOF OF ILLNESS OR INJURY THAT PREVENTS COURSE
COMPLETION IS ACCEPTED BY THE INSTRUCTOR.
SPECIAL CONDITIONS OR DISABILITIES THAT REQUIRE
ACCOMMODATION FOR THE STUDENT SHOULD BE CALLED TO
MY ATTENTION THE FIRST DAY OF CLASS SO THAT
ARRANGEMENTS CAN BE MADE AS PROMPTLY AS POSSIBLE.
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CHEATING ON EXAMS AND OR PLAGIARISM WILL RESULT IN
EXPULSION AND A GRADE OF "F" IN THE CLASS.
CELL PHONES OR PDA’S MAY NOT BE USED IN THE CLASS ROOM.
THIS INCLUDES USING THE CELL PHONE AS A CALCULATOR.
OUTSIDE READING AND OTHER RESOURCE SUGGESTIONS:
THE HOUSTON CHRONICLE , THE WALL STREET JOURNAL, BARRONS,
FORBES, FORTUNE, FEDERAL RESERVE BULLETIN, SURVEY OF
CURRENT BUSINESS, THE ECONOMIST, TIME, NEWSWEEK.
COMPUTER SOFTWARE INCLUDING THE INTERNETS TUTORIAL BY
SOUTHWEST PUBLISHING. SHOULD BE USED TO SUPPLEMENT THE
TEXT AND LECTURES.
CALENDAR
REGULAR TERM 16 WEEKS
MACROECONOMICS
FALL 2011
WEEK 1 –BASICS OF THE COURSE INCLUDING INTRODUCTIONS
THE NATURE AND METHODS OF ECONOMICS
DEFINITIONS
WHY STUDY ECONOMICS?
GREAT ECONOMISTS
THEORY/POLICY
GOALS - COMPLEMENTARY/CONFLICTING
PITFALLS
PERSPECTIVES-SCARCITY/MARGINALITY
GRAPHS, THE LANGUAGE OF ECONOMICS
CHAPT. 1, 1A HOMEWORK ASSGMT. 1
WEEK 2
THE ECONOMIZING PROBLEM- HOW DO WE DEAL WITH SCARCITY?
THE U.S. ECONOMY A GLOBAL VIEW.
SCARCITY VS. UNLIMITED WANTS
RESOURCES
EFFICIENCY- ALLOCATIVE/PRODUCTIVE
PRODUCTION POSSIBILITY CONCEPT
COMPARATIVE ADVANTAGE
THREE ECONOMIC SYSTEMS
HOW THEY ANSWER ECONOMIC QUESTIONS
CIRCULAR FLOW MODEL
CHPT. 2 HOMEWORK ASSGMT. 2
WEEK 3
THE MARKET SYSTEM- FUNCTIONS 0F RATIONING AND
ALLOCATING.
DEFINITIONS AND ASSUMPTIONS
LAW OF DEMAND
LAW OF SUPPLY
CHANGE IN Qd/Qs
CHANGES IN DEMAND OR SUPPLY
DETERMINANTS OF D/S
CHAPT. 3
WEEK 4
COMPETITION, SPECIALIZATION, THE THREE BASIC ECONOMIC
QUESTIONS. THE MARKET STRIKES BACK, LEGAL PRICES AND TAXES.
CHPTS. 3, 4
THE BIG PICTURE, LEGAL FORMS OF BUSINESS
THE ROLE OF GOVT. IN THE ECONOMY.
WEEK 5--MEASURING THE ECONOMY GDP TO PERSONAL INCOME .
INCOME AND EXPENDITURES APPROACH, ADJUSTING FOR PRICE
DIFFERENCES. THE CIRCULAR FLOW CONCEPT.
THE REAL SHORTCOMINGS OF NATIONAL INCOME ACCOUNTING.
UNEMPLOYMENT DEFINING AND CALCULATING. HOW GOOD ARE THE
NUMBERS? OKUN’S LAW, THE IMPACT ON THE ECONOMY. CHAPT
5,6AND 7.
WEEK 6 TEST 1 – CHAPTS. 1-7 PLUS LECTURE. AD/AS MODELS AND
ITERATIONS THEREOF. CHAPT. 8
WEEK 7—
LOOKING AT CAUSES AND POLICY ISSUES. INFLATION, COST/PUSH
AND DEMAND /PULL, RATCHET EFFECT. CHAPTS.
BUSINESS CYCLES THEORIES AND
BUILDING THE AGGREGATE DEMAND MODEL.
DETERMINANTS OF CONSUMPTION AND INVESTMENT.
CONSUMPTION FUNCTION AND SAVINGS.
AGGREGATE SUPPLY AND DEMAND,THE NATIONAL INCOME MODEL
CONSTRUCT.
CHAPT INVESTMENT SPENDING-PLANNED/UNPLANNED
C+I=Y=GDPe
CHAPTS 9 AND 10.
WEEK 8
EQUILIBRIUM NATIONAL INCOME
MULTIPLIER THEORY
RECESSIONARY GAPS / INFLATIONARY GAPS
FULL EMPLOYMENT, NON-INFLATIONARY GDP
FISCAL POLICY-FILLING THE GAPS
THE AD / AS MODEL- RATIONALE
DETERMINANTS OF AD /AS CHAPT 10, 11.
WEEK 9- DISCRETIONARY VS. CYCLICAL
EXPANSIONARY /CONTRACTIONARY
AUTOMATIC STABILIZERS
MONEY AND THE ECONOMY
QUANTITY THEORY OF MONEY EQUATION
CHAPTS 12,13.
WEEK 10
MONEY AND BANKING - THE FEDERAL RESERVE SYSTEM
CREATION OF MONEY, TOOLS OF THE FED.CHAPT13.
WEEK 11
MONETARY P0LICY. THE FEDERAL RESERVE SYSTEM
KEYNESIAN CHAIN, THE EFFECTS OF AN EASY MONEY POLICY.
MONETARISM VS. KEYNESIAN THEORY AND POLICY
C+I+G+X VS. MV=PQ. CHAPT 14,15. APPENDIX D.
WEEK 12
SUPPLY SIDE POLICY SHORT RUN OPTIONS AND THEORY VS.
REALITY. CHAPTS 16 AND 18
WEEK 13
ADAPTIVE EXPECTATION THEORY AND THE MONETARY RULE ,
WHAT IS A SUSTAINABLE GROWTH RATE?
WEEK 14
CAN THE U. S. COMPETE IN WORLD MARKETS? INTERNATIONAL
TRADE FUNDAMENTALS. CHAPT 34.
WEEK 15
MAKE UP EXAMS AND REVIEW FOR FINALS.
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WEEK 16 – FINAL EXAMS SEE HCCS WEBSITE FOR DATES AND TMES.