WAYLAND BAPTIST UNIVERSITY
FAIRBANKS CAMPUS
SCHOOL OF BUSINESS
SYLLABUS
1. Mission Statement: Wayland Baptist University exists to educate students in an academically challenging,
Learning-focused and distinctively Christian environment for professional success and service to God and
humankind
2. Course: ECON 4346 – FB10 - Survey of Economics
3. Term: 2014 Fall Term
4. Instructor: Art Nash
5. Office Phone and Wayland Email Address:
(907) 322-2309
Arthur.nash@wayland.wbu.edu (Easiest to contact nashnashalaska@gmail.net during the day)
6. Office Hours, Building, and Location
7. Class Meeting Time and Location: Wednesday nights, 6-10pm Eielson Building 2631, Room 318
8. Catalog Description: Survey course covering macroeconomics and microeconomics. Credit not awarded for
ECON 2307 or ECON 2308 and ECON 4346.
9. Prerequisites: none
10. Required Textbook and Resources:
BOOK
Principles of Economics
AUTHOR
Mankiw
ED YEAR
6th
PUBLISHER
ISBN#
2013 Cengage Learning 978-0-538-45305-9
11. Optional Materials:
http://www.economist.com/
http://www.whitenova.com/thinkEconomics/index.html
12. Course Outcome Competencies:
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Demonstrate the development of as Economics vocabulary by defining the selected Key Concepts listed in each
chapter of study in the textbook;
Identify the Ten Principles of Economics and briefly explain each;
Explain the difference between microeconomics and macro economics;
Identify the major economists highlighted in this study and briefly explain their contribution to the field of
Economics;
Explain how everyone can benefit when people trade with one another;
Explain the meaning of absolute advantage and comparative advantage and apply the theory of comparative
advantage to individual decisions and to national policy;
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Explain supply and demand and what determines the supply and demand for a good in a competitive market –
illustrate with models;
Explain the key role of prices in allocating scarce resources in market economies;
Explain the meaning of the elasticity of demand, and the elasticity of supply;
Explain the effects of government policies on markets;
Explain how taxes reduce consumer and producer surplus; deadweight loss of taxation;
Explain the effects of free trade and who wins and loses from international trade;
13. Attendance Requirements: 12 of the 14 sessions are required for passing the class (unless cancelled by the
instructor as such instances would not count.).
14. Disability Statement: “In compliance with the Americans with Disabilities Act of 1990 (ADA), it is the policy
of Wayland Baptist University that no otherwise qualified person with a disability be excluded from participation
in, be denied the benefits of, or be subject to discrimination under any educational program or activity in the
university. The Coordinator of Counseling Services serves as the coordinator of students with a disability and
should be contacted concerning accommodation requests at (806) 291- 3765. Documentation of a disability must
accompany any request for accommodations.”
15. Course Requirements and Grading Criteria:
There will be 3 ways to earn points: Homework questions, two tests, a economics conversational project. Here are the
possible earned points232 points for questions
109 points for midterm and 109 points for final (NOT cumulative)
40 points conversational project
10 points for weekly opening question (referring to week prior)
500-450: A
449-400: B
399-350: C
349-300: D
299 or less: no pass
16. Tentative Schedule: (Calendar, Topics, Assignments)
Week 1: Introduction to Economics (as science of choice)- Chpts. 1-3
Questions for Review 1-10, 1-10,1- 7
27
Week 2: How Markets Work- Chpts. 4-6
Questions for Review 1-9, 1-11,1- 7
27
Week 3: Markets and Welfare- Chpts. 7-9
Questions for Review 1-6, 1-5,1-6
17
Week 4: Economics of Governemnt (Public Sector)- Chpts. 10-12
Questions for Review 1-6, 1-4,1-8
18
Week 5: Firm Behavior and Industry- Chpts. 13-17
Questions for Review 1-8, 1-8,1-8, 1-7, 1-8
39
Week 6: Economics of Labor Markets- Chpts. 18-20
Questions for Review 1-5, 1-8,1- 7
20
Midterm test
Week 7: Data of Macroeconomics- Chpts. 23-24
Questions for Review 1-8, 1-5
13
Week 8: Economy the Long Run – Chpts. 25-28
Questions for Review 1-8, 1-6,1-7, 1-7 28
Week 9: Money and Prices in the Long Run -Chpts. 29-30
Questions for Review 1-10, 1-7
17
Week 10: Macroeconomics of Open Economies – Chpts. 31-32
Questions for Review 1-5, 1-4
9
Week 11: Short Run Economic Fluctuations- Chpts. 33-35
Questions for Review 1-7, 1-5,1- 5
17
Final