CAMERON: SYLLABUS & COURSE OUTLINE
MACROECONOMICS
SPRING 2012
REGULAR START {16 weeks ecture} Econ 2301
Class
Dates
Jan 17,
TuTh 7:00PM 2012West Loop Center
8:30PM
May 13,
2012
Jan 17,
TuTh 9:30AM Scarcella Science 2012- 11:00AM
& Technology
May 13,
2012
Jan 17,
TuTh 11:00AM Scarcella Science 2012- 12:30PM
& Technology
May 13,
2012
Class
Class Title
Enrolled Days & Times *rooms TBA
ECON
2301-1
(81077)
Prin EcoMacroeconomics
(Lecture)
31
ECON
2301-10
(81173)
Prin EcoMacroeconomics
(Lecture)
32
ECON
2301-11
(81174)
Prin EcoMacroeconomics
(Lecture)
17
I. Instructor's Name: PAMELA CAMERON, B.S., M.A., PhD.
II. Brief instructor bio: Welcome to the class! Dr. Cameron is a highly experienced professor, having
taught undergraduate and graduate economics (and statistics) at the University of Oklahoma, the
University of Phoenix and here at HCC. She is also an experienced business person. She was the
President of, and partner in, a well-known Economics consulting firm in the Washington, D.C. area. She
has chosen to teach because of a desire to share that experience, and help her students compete in the
market for the best, and highest paying, jobs. She is only too glad to answer any and all of your
questions. So, please, pull up your chair and enjoy learning about how markets operate, and how those
markets affect you.
Office Hours: 12:30 – 1:30 TTH
Learning HUB room 208
2:00 - 3:00
TTH
West Loop
room TBD
4:00 – 6:00
FRI
West Loop
room TBD
Please fill free to ask and I will try my best to accommodate you. It has been my experience
that most students will try to see their instructor either before or after class and this is fine, as
long as I am not rushing off to another class. Or, if none of the above works for you, email
me and we will set up a time. More importantly, please feel free to ask any question at any
time during your class.
Preferred contact method:E-mail: Pamela.Cameron@hccs.edu
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AND
Alternate contact method: pjcameron@comcast.net .
III. Course Meeting Days, Times and Location: See page 1.
IV. Course's Catalog Description and Prerequsites:
ECON 2301 Principles of Macroeconomics
Prerequisites: Must be placed into
college-level reading and be placed
into MATH 0308 (or higher) and be
placed into ENGL 0310/0349 (or
higher) in writing.
Credit: 3 (3 lecture)
Macroeconomics examines the fundamentals
of the American economy as it relates to
social welfare. Emphasis is on basic concepts
and theories as they affect domestic and
international markets. This course integrates
behavioral social sciences to present solutions
to real world problems. Macroeconomics
includes measurements of GDP, fiscal and
monetary policy. Core Curriculum Course.
ECON 2302 Principles of Microeconomics
Prerequisites: Must be placed into
college-level reading and be placed
into MATH 0308 (or higher) and be
placed into ENGL 0310/0349 (or
higher) in writing.
Credit: 3 (3 lecture)
Microeconomics examines the fundamentals of
the American economy as it relates to business
and individual welfare. Emphasis is on basic
concepts and theories as they affect domestic
and international markets. Microeconomics
includes cost and production decisions and
discusses the role of competition, monopolies
and oligopolies. Core Curriculum Course.
V. CATE none apply to this course
Course format is mostly lecture, with the
objectives given below. The instructor will, through lectures from the text, examples from the
news, by working problems on the whiteboard, and other digital and non-digital techniques
convey the theory and its application. We will discuss current events in class and you will be
responsible for anything which we cover in class.
VI. Format of course, objectives and methods:
Main Course Objectives
1. Understand and be able to apply the concepts of supply and
demand and market equilibrium, what causes a change in
supply or demand or equilibrium, and be able to show all this
graphically. Be able to draw the supply/demand graphs and
use them to explain what happens to price and output when
there is a change is either supply or demand.
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2. Describe and be able to apply the concept of elasticity,
particularly the price elasticity of demand. Be able to use the
formulas to calculate elasticity and use the calculated values to
analyze the impact of elasticity on variables such as revenue.
Be able to explain the role of elasticity in the supply and
demand analysis.
3. Student must understand and be able to use the
Aggregate Supply and Demand (AS/AD) Model. . Describe
verbally and graphically how government can control or
influence GDP, inflation and unemployment rates. You must
be able to explain Fiscal Policy and Monetary Policy, and be
able to apply these concepts to the current market conditions.
Students should be able to interpret the AS/AD model changes
and explain them in terms of the effect on the economy; eg on
inflation, on unemployment, on income and on output of the
economy.
`4. . Describe verbally and graphically how the Federal Reserve
can control or influence GDP, inflation and unemployment
rates. Compare the use of Fiscal Policy to that of Monetary
Policy or Supply Side options , which requires an ability to
explain Monetary Policy, and be able to apply these concepts
to the current market conditions. Using the AS/AD models
students must be able to take a change described in the news
and explain it using the model to show the impact/s on real
output/GDP, inflation, output, and employment.
VII. Associated websites and textbook:
Textbook: Textbook: Arnold, Roger A. ECONOMICS 10E ISBN-13: 978-0-538-45285-4; ISBN-10:
0-538-45285-4, SOUTH-WESTERN Cengage Learning [ (you can use a3 hole punch version if
available at the bookstore or the hardbound full edition-which covers macro and micro-- or the paperback
splits as long as you also purchase the Aplia). Online purchase from the publisher [South-Western
Cengage Learning, www.cengagebrain.com ] is likely to be more affordable than the same purchase from
the bookstore. ]
On Line Subscription: -APLIA www.cengagebrain.com. This is necessary to complete homework
assignments and to help you, the student, better understand the course material . You are given a code to
register when you buy the APLIA. You would then use the link provided by the Instructor to get into the
class where you do your homework. Remember this homework system is designed to force students to
read the material BEFORE they come to class and hear the lecture. Please check the website at least twice
weekly for homeworks that are due, as they will expire and cannot be brought back. Repeat: once the
homework has expired, it will not be made available again . Caution: Although each homework will be
available to you for 2-4 weeks, Aplia only notifies you when the homework is about to expire. This does
not leave you time to bring your questions to class for help prior to finalizing the homework.
APLIA:Note from the publisher: “The students can get the book (printed 3 hole version) AND Aplia (2
semester access) for CHEAPER THAN (not ONLY the bookstore) but the cost of APLIA alone. This is a
GREAT savings and CHEAPER than used books and Aplia ! Use the microsite given below.
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DIRECT TO STUDENT MICROSITE:http://www.cengagebrain.com/micro/hccecon2301/2302
* Cengage Learning Technical Support - 1-800-354-9706”
Department website:http://learning.swc.hccs.edu/courses/social-behavioral-sciences/economicshomepage/ Please look at the department website for additional useful and fun economics related
websites.
VIII. Required Textbook : Arnold, Roger A. ECONOMICS 10E ISBN-13: 978-0-538-45285-4;
ISBN-10: 0-538-45285-4, SOUTH-WESTERN Cengage Learning
IX. Lab times- This course has no lab, but the APLIA assignments are practical problems similar
to test questions that give the student practice with applications of economics. You, the student
will find them to be very useful.
X. ADA Statement-Any student with a DOCUMENTED disability (e.g. physical, learning, psychiatric,
vision, hearing, etc.) who needs to arrange reasonable accommodations must contact the Disability
Services Office at the respective college at the beginning of each semester. Faculty are authorized to
provide ONLY the accommodations requested by the Disability Support Services Office. If you have
any questions please contact the counselor, Becky Hauri at 713-718-7909 (Southwest campus) as soon as
possible to make the necessary accommodations. The counselor will inform instructors on the
recommended accommodations. If you still have questions contact Donna Price at 713-718-5165.
The information in this publication will be made available in large print, taped or computerbased format upon request.Should you receive such a request, the office of Disability Support
Services at your college has the expertise and equipment necessary to accommodate it.
HCC CAMPUS CLASSES ONLY:If you have a physical handicap that necessitates assistance during a
building evacuation, contact the instructor on the first day of class and a buddy will be
assigned to you. This buddy along with the instructor and security personnel will assist you in
the unlikely event of a building evacuation.
XI. BEHAVIOR IN THE CLASSROOM
1. NO CELL PHONES ALLOWED. You must turn your phones off. No texting, no leaving to take
a call.
2. If you cannot avoid being tardy, please take the closest available seat.
3. Other: Verbal participation in class is expected. You are expected to have read the
material and be able to answer the intructor’s questions. Being alert and awake for each
class period goes without saying. And, the department cordially asks that you refrain
from inappropriate classroom behavior which includes, but is not limited to: talking in
class, touching or attempting to touch another student, throwing any object at any time,
interrupting the instructor or another student, being unprepared for class by not bringing
necessary materials to class and snoring.
Academic Honesty: A student who is academically dishonest is, by definition, not
showing that the coursework has been learned. And that student is claiming an advantage not
available to other students. The instructor is responsible for measuring each student's individual
achievements and also for ensuring that all students compete on a level playing field. Thus, in
XII:
Page 4 of 10
our system, the instructor has teaching, grading, and enforcement roles. You are expected to be
familiar with the University's Policy on Academic Honesty, found in the catalog . What that
means is: If you are charged with an offense, pleading ignorance of the rules won’t help you.
When you submit work in this class, you certify that it is your own work and that you
are not submitting the work of others or doing any of the following:1. Looking on another student's paper,
2. copying another student's work, 3. plagiarism in any form, 4. talking during any graded assignment,
5. receiving or giving unauthorized information before or during a graded assignment.
Cheating
includes, but is not limited to the aforementioned items.
Basic rule: Avoid the very appearance of evil. This means avoid those things that even appear
to be cheating, Remember, cheating will get you a zero on any graded assignment. And, it is the
prerogative of the instructor to bring the cheating to the attention of the Dean for further action.
XIII. Attendance Policy: HCC policy is that a student MAY be dropped from a course after
6 class hours have been missed. The policy in this class is that you will be dropped after you
miss 4 classes. If you anticipate any major problems with attendance, see your instructor
immediately and get the situation resolved. [Student success is enhanced by regular class
attendance. Each day in the class in important and being in class on time is critical to achieving
success. I want you to succeed in this class and it is important to me, but it must be important to
you as well. It is requested that students first contact the instructor should any extraordinary
problem occur. An extraordinary problem is one that causes you to miss 2 or more consecutive
classes or 3 or more hours of class. Your in-class grade may suffer as a result of absences.
It is essential that you do not take a casual attitude toward course attendance and
participation. Student absences are HIGHLY correlated with LOW grades. Please come to
each class prepared to thoughtfully discuss the material for that day.
PLEASE CONTACT THE REGISTRAR’S OFFICE TO DROP ANY CLASS
and email your instructor or you may withdraw online. After the drop date, March 29, no W’s can be
given. ALL STUDENTS WILL BE ASSIGNED THE GRADE OF A, B, C, D, F or I. The grade of I will only
XIV. Withdrawl Policy:
be assigned to a student under extraordinary circumstances. A grade of FX may be introduced by
HCC and, if so, will be explained at that time.
XV. NOTICE: Legislation on Dropping Courses: Please be aware that students who take a
course for the third time or more must now pay significant tuition/fee increases at HCC and other
Texas public colleges and universities. At HCC this has been an additional $50 per credit
hour. Also, the state of Texas has passed a new law limiting students to no more than six
withdrawals throughout their academic career in obtaining a baccalaureate degree has been
passed. If you are considering course withdrawal because you are not earning passing grades,
confer with your instructor/counselor as early as possible about your study habits, reading and
writing homework, test-taking skills, attendance, course participation, and opportunities for
tutoring or other assistance that might be available. Your success depends on you.
XVI. Grading policy- Computation of Final Course Grade: Your grade is based on a total of
1,ooo points. If your total points add up to: 900- 1000 points ,your grade will be A; 800-899 points ,B;
700-799 points , C; and 600-699 points , D. Below 600 points will be an F.
Page 5 of 10
Tests and Final Exam: There are 4 equally weighted exams (200 pts.), and the ‘final’ is one of the
four. But the final is different in that 1), it is comprehensive, and 2), it has no written component. It will
likely be an online test. The other 200 points come from your homework. APLIA: will count 200 points.
TESTS will be part written and part multiple choice. Tests 1-3 will have two short answer or written
questions, and approximately 30 multiple choice. The final will be multiple choice only. You may bring
a single, legal sized sheet of paper to each test. You may write anything you wish on that paper.
APLIA is an online program which provides sample questions (practice) for the student to work.. You
will have 12 homework assignments on Aplia, and I will take the best 10 out of 12. You will have 4
weeks to work all but the first couple of homeworks. When these homeworks expire, they will not be
brought back for any reason. You have 4 weeks, so do them early. That way if something comes up, you
will have them completed. Also, please note: Alpia notifies you when the homework is about to expire. If
you wait until that time to start your homework, you will not have an opportunity to bring your questions
to class. You may print out any homework question and bring it to class for help before finalizing your
homework. But not if you leave it until the last minute.
XVII. Course requirements: Other than the basic mathematics and the ability to use the
computer for research and Aplia, there are no additional course requirements. See section IV on
requirements.
.XVIII. Student Learning Outcomes: As stated also in section VI.
Main Course Objectives
1. Understand and be able to apply the concepts of supply and
demand and market equilibrium, what causes a change in
supply or demand or equilibrium, and be able to show all this
graphically. Be able to draw the supply/demand graphs and
use them to explain what happens to price and output when
there is a change is either supply or demand.
2. Describe and be able to apply the concept of elasticity,
particularly the price elasticity of demand. Be able to use the
formulas to calculate elasticity and use the calculated values to
analyze the impact of elasticity on variables such as revenue.
Be able to explain the role of elasticity in the supply and
demand analysis.
3. Student must understand and be able to use the
Aggregate Supply and Demand (AS/AD) Model. . Describe
verbally and graphically how government can control or
influence GDP, inflation and unemployment rates. You must
be able to explain Fiscal Policy and Monetary Policy, and be
able to apply these concepts to the current market conditions.
Students should be able to interpret the AS/AD model changes
and explain them in terms of the effect on the economy; eg on
inflation, on unemployment, on income and on output of the
economy.
`4. . Describe verbally and graphically how the Federal Reserve
can control or influence GDP, inflation and unemployment
rates. Compare the use of Fiscal Policy to that of Monetary
Policy or Supply Side options , which requires an ability to
explain Monetary Policy, and be able to apply these concepts
to the current market conditions. Using the AS/AD models
Page 6 of 10
students must be able to take a change described in the news
and explain it using the model to show the impact/s on real
output/GDP, inflation, output, and employment.
XIX. Instructional Objectives:
Instructional Objectives : to enable my students to meet all of the Objectives described in the
Section above. This includes lecturing and working with students to help them:
Achieve success by tutoring, mentoring and providing clear lectures and assignments that are
productive.
XX. Make-up policy: Late work is not acceptable. As an adult and a dedicated college
student, it is your responsibility to complete your assignments on time. As discussion
concerning your assignments will be ongoing during the class, you may ask questions about
the projects any time during the semester. Your questions are welcomed, and as you are
probably not the only student wanting the information, your questions may help others as
well.
Make-ups are not allowed: No make-ups will be given for Homework assignments or tests.
Students missing exams one, two , or three will have exam four count twice. There is no
makeup for exam 4. Be there or lose 200 points.
XXI. Course Calendar:
Instructional Topics/Tentative Schedule: (see textbook for specific chapter topics)(Note: Instructor
reserves the right to alter this schedule to meet optimal teaching rates for student comprehension,
or for Force Majeure.) It is expected that the chapters be read prior to the class meeting to which those
chapters correspond. The purpose of Aplia is to force students to read the material before they come to
class and hear the lecture on a given topic, as well as to provide sample or practice questions in
preparation of the tests. Always check at least twice a week to see if you have a homework due.
Ch denotes ‘chapter.’
SPRING 2012
CALENDAR OF EVENTS
[all dates are best estimates, and are subject to change]
CHAPTERS IN ARNOLD
PART I ECONOMICS THE SCIENCE OF
SCARCITY. All chapters are shown. ONLY the
Macro 2301 apply to Macro courses. These are
chapters primarily chapter 1-15.
1 What Economics Is About.
Appendix A: Working with Diagrams.
Appendix B: Should You Major in Economics?
3 Supply and Demand: Theory.
4 Prices: Free, Controlled, and Relative.
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Test 1
Test 2
Test 3
Final
Chapt. 1-5
Chapt. 6-9
Chapt 10-15
Comprehensive
WEEK
_______
All dates are
approximate
and subject to
change.
Ch1&Appendices
Ch 2,3
Ch 4, 5
Review & Test 1
Ch 6, 7
1
2
3
4
5
Feb. 9
Mar. 8
Apr. 31
Finals wk.
5 Supply, Demand, and Price: Applications.
PART II MACROECONOMIC FUNDAMENTALS.
6 Macroeconomic Measurements, Part I: Prices and
Unemployment.
7 Macroeconomic Measurements, Part II: GDP and Real
GDP.
PART III MACROECONOMIC STABILITY,
INSTABILITY, AND FISCAL POLICY.
8 Aggregate Demand and Aggregate Supply.
9 Classical Macroeconomics and the Self-Regulating
Economy.
10 Keynesian Macroeconomics and Economic
Instability: A Critique of the Self-Regulating Economy.
11 Fiscal Policy and the Federal Budget.
PART IV MONEY, THE ECONOMY, AND
MONETARY POLICY.
12 Money, Banking and the Financial System.
13 The Federal Reserve System.
14 Money and the Economy.
15 Monetary Policy.
Appendix C: Bond Prices and Interest Rates.
PART V EXPECTATIONS AND GROWTH.
16 Expectations Theory and the Economy.
17 Economic Growth: Resources, Technology, Ideas
and Institutions.
PART VI THE FINANCIAL CRISIS OF 2007-2009.
18 The Financial Crisis of 2007-2009.
PART VII GOVERNMENT AND THE ECONOMY.
19 Debates in Macroeconomics Over the Role and
Effects of Government.
PART VIII MICROECONOMIC
FUNDAMENTALS.
20 Elasticity.
21 Consumer Choice and Behavioral Economics.
Appendix D: Budget Constraint and Indifference Curve
Analysis.
Part IX Product Markets and Policies.
22 Perfect Competition.
23 Monopoly.
24 Monopolistic Competition, Oligopoly, and Game
Theory.
25 Government and Product Markets: Antitrust and
Regulation.
PART X FACTOR MARKETS AND RELATED
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6
7
8
Ch 8,
Ch. 8, 9
Review & Test2
9
Spring Break
10
Ch 10, 11
11
12
Ch 11, 12
Ch. 12, 13
13
Ch/ 14, 15, &
appendix
Review & Test 3
Comprehensive
review
Final Exams
14
15
16
dates tentative
If time permits
If time permits
ISSUES.
26 Factor Markets: With Emphasis on the Labor Market.
27 Wages, Unions, and Labor.
28 The Distribution of Income and Poverty.
29 Interest, Rent, and Profit.
PART XI MARKET FAILURE, PUBLIC CHOICE,
AND SPECIAL-INTEREST-GROUP POLITICS.
30 Market Failure: Externalities, Public Goods, and
Asymmetric Information.
31 Public Choice and Special-Interest-Group Politics.
PART XII GOVERNMENT AND MARKETS.
32 The Economic Case For and Against Government:
Five Topics Considered.
PART XIII: INTERNATIONAL ECONOMICS
AND GLOBALIZATION
33 International Trade.
34 International Finance.
35 Globalization and International Impacts on the
Economy.
PART XIV: FINANCIAL MATTERS.
36 Stocks, Bonds, Futures, and Options.
PART XV: WEB CHAPTER.
37 Agriculture: Problems, Policies, and Unintended
Effects.
If time permits
XXII. Other important information:
1 You will be graded on your demonstrated understanding of the the material. Showing up and
taking the tests is not enough. You must understand the material and be able to apply the theory to
real life situations and hypothetical situations.
2 Start reading chapters now. Bring your questions in to the class and we will discuss them.
Please.
3 You may bring one notebook sized piece of paper to each test. You can write on both sides,
and put anything you want on that paper. What you can’t do is use your neighbor or your phone.
Any question about it, and I will pick up the paper and it will automatically be assigned a zero
grade.
4 TARDY POLICY: To avoid being counted absent, except for the first two weeks, you must
be seated before the roll call has been completed. After week 2, if you arrive after the roll has been
called you will be counted absent. No excuses.. IMPORTANT : If you must arrive late, please enter
quietly and take the nearest seat available so as to minimize the disruption to the class. Continued
disruptions and you will be withdrawn from the course.
Page 9 of 10
XXIII. HCC Core Curriculum Statement: "For information regarding HCC's Core Curriculum,
see P. 46 of the HCC Catalog. For information about HCC's Social Sciences Exemplary
Educational Objectives, see P. 59-60 of the HCC Catalog."
XXIV. MENINGITIS : IMMUNIZATION REQUIRED FOR SPRING REGISTRATION
Texas Senate Bill 1107 passed in May 2011, requires that new HCC students and former HCC
students returning after an absence of at least one fall or spring semester who are under the age
of 30 are required to present a physician-signed certificate showing they have been vaccinated
against bacterial meningitis. Beginning with Spring registration, November 7, students will have
to satisfy this requirement prior to enrollment. For more information and a list of exemptions
please go to http://www.hccs.edu/hccs/admissions-registration-center/new-student-generaladmissions-steps/submit-meningitis-documentation.
The new legislation regarding the Meningitis immunization requirement stipulates that the
vaccine must be administered at least 10 days prior to the start of class. Students registering for a
regular term class beginning January 17 must have received the vaccination on or before January
7. Students receiving the vaccine after this Saturday, January 7 will have to enroll in classes for
the second start session.
XXV. FREE SERVICES!
*FREE TUTORING on campus will begin with second start. I will email you as soon as I
know the time and location. Also, see http://swc2.hccs.edu/e-tutor/ .
*FREE PLAGIARISM CHECKS are available online – at HCC askonline, and online
generally (just use your search engine to find one._Finally,
*FREE PROOFING of papers is also available at askonline.
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www.hccs.askonline.edu.