Economics 2301 Northeast College
SPRING JANUARY 20th-MAY 17th, 2015
ECON 2301 (Macroeconomics)
Your CRN_41841 ECON 2301-0001___________
Office: North Line Center - Room _320______
3 hour lecture course / 48 hours per semester/ Holidays /Summer I 2014
Please use this link to register for the class:
Instructor: Lawrence N. Paye, Sr.
Instructor Contact Information: Office—713-718-2450
Cell—281-536-7293 (Preferred No.)
Email—lawrence.paye@hccs.edu
To Enter Class, please click on:
Office location and hours: Room No. 310 in North Line (By appointment)
Although office hours will be purposely scheduled around the instructor’s class time, students
are encouraged to meet with the instructor during mutually convenient times.
Please feel free to contact me concerning any problems that you are experiencing in this
course. You do not need to wait until you have received a poor grade before asking for my
assistance. Your performance in my class is very important to me. I am available to hear your
concerns and just to discuss course topics. Feel free to come by my office anytime during
these hours.
SPRING OFFICE SCHEDULE: TTH 1:30-3:30 PM AT NORTHLINE ROOM #320
TECA 1303 – page 2
Required Text:
The Economy Today 13e McGraw Hill Connect Economics published McGraw Hill
Caution Take this page with you to the bookstore to ensure you are purchasing the correct
text material.
ECON 2301/2302
The required textbook for this course is:
Principles of Economics 2301/2302
w/ConnectPlus™
Custom edition
ISBN 9780078124804
FYI: This package has been customized to provide you with the greatest value for this course.
 The custom book is bundled with Connect Plus™ to help you succeed in this course and is also
mandatory for assignment submittal.
 If you purchase the required items separately, you will likely end up paying more than you will for this
bundle.
$120.00
**Best Bargain!
$150.00
**Best Digital Bargain!
Package: Loose-Leaf textbook
ConnectPlus™
w/Connect Plus™ Vol. 2
ISBN 9781259128684
Print & Digital Solution
(Includes eBook and
homework access only!!)
All-Digital Solution
ONLY Available Online at: Purchase Online
Standard 5-7 day shipping applies
*URL is listed below
(obtain Connect section URL
from your instructor)
$171.45
Package: Loose-Lea
textbook w/Connect P
ISBN 978007812480
Print & Digital Solut
Available at Booksto
On Campus & Off Camp
TECA 1303 – page 3
http://shop.mcgrawhill.com/mhshop/productDetails?isbn=0078124808
This text comes in a discounted loose-leaf form with a McGraw Hill Connect Plus Economics
eBook Access Card. Connect Plus Economics is your online homework management program
that is required for this course. Do not toss or lose this card as it becomes a receipt that you
have already paid for the lab and homework called Connect Plus Economics eBook.
You will also have several other options:
1.
Purchase ebook and Connect Plus Economics eBook from publisher
2.
Purchase loose-leaf direct from the publisher which will have a lower price (delivery will
come within the week) and the Connect Plus Economics eBook.
The bookstore’s cost is over $170.00. I would recommend you go through McGraw Hill
Connect Plus Economics eBook and purchase the book for considerably less It should arrive
within a week. And most students are money savvy and purchase the book on line also for a
considerable less amount. Just make sure you are purchasing the correct edition.
If you wish only to purchase the eBook and the homework, you can buy these online by going
to http://shop.mcgraw-
hill.com/mhshop/productDetails?isbn=0078124808http://shop.mcgr
aw-hill.com/mhshop/productDetails?isbn=0078124808
and go to “Students” at the top of the page. Then explore all your options. When completed,
you click the “Student” button in the Register section and complete the registration by using
your class’s appropriate Course ID numbers. They are as follows:
For this traditional face-to-face class: DE: Jan 20th. – May 17th, 2015 class
To Go To Class:
This is considered to be a “computer enhanced” class; therefore, you must have access to a
computer. Caution:
TECA 1303 – page 4
Technical Issues
Students are expected to maintain a state of technical compliance, including (but not limited
to): up-to-date software as required by the instructor, a stable internet connected browser
when using on-line assignments. The instructor is not required to give consideration for
lost/missing/unacceptable work stemming from technical non-compliance and/or end-user
technical issues.
Other materials: A calculator and a suggested tape recorder. Also, each student should be
prepared with notebook paper and pen or pencil. NOTE: Students who do not bring paper,
pens and/or pencils and calculators to class and do not use them during the class period, will
be penalized one point for each day.
Suggestion:
Cell phones may not be used to substitute for calculators. Anyone using a cell phone,
including the ear devices, must leave the class and shall be counted absent for the day. They
are to be placed off the desk and/or in the school bag. Please bring a Calculator to class, your
cell phone will not be allow period.
Laptops and/or epads are not allowed in the classroom.
Course Description
A study of macroeconomic principles. Analysis of the market economy; national income accounting;
income determination; stabilization policies: monetary and fiscal policy; money and banking; demand
and supply-side economics; monetarist vs. Keynesian view; inflation theories such as distinction
between demand-pull and cost-push theories, Phillips curve analysis; labor market and determination of
unemployment rate.
This course emphasizes macroeconomics analysis of forces determining levels of income,
prices, employment, and economic growth, explanation of economic terms and institutions, and
consideration of current problems
Prerequisites
Even though there are no prerequisites for this course, all students must have a firm
understanding of writing and math skills.
Course Goal
The student will be able to critically analyze material related to the functioning of overall
economy, develop a framework within which to examine evaluations of and/or proposed
modifications to the economy and use economic analysis utilizing critical thinking to develop
well-reasoned judgments on economic and related policy matters as well as utilizing individual
though processes. Through this process the student will utilize already acquired verbally,
TECA 1303 – page 5
written, mathematically, computer and public speaking skills
Student Learning Outcomes
The student will be able to:
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Explain the role of scarcity, specialization, opportunity cost and cost/benefit analysis in
economic decision-making.
Identify the determinants of supply and demand; demonstrate the impact of shifts in both market
supply and demand curves on equilibrium price and output.
Define and measure national income and rates of unemployment and inflation.
Define economic growth and identify sources of economic growth.
Identify the phases of the business cycle and the problems caused by cyclical fluctuations in the
market economy.
Define money and the money supply; describe the process of money creation by the banking
system and the role of the central bank.
Construct the aggregate demand and aggregate supply model of the macro economy and use it to
illustrate macroeconomic problems and potential monetary and fiscal policy solutions.
Explain the mechanics and institutions of international trade and their impact on the macro
economy.
Demonstrate knowledge concerning business cycles
Demonstrate knowledge of concepts dealing with monetary and fiscal policy
Explain how to manipulate the aggregate supply/aggregate demand model of the macro
economy
Explain unemployment and inflation data and how that data is computed.
Manipulate the basic supply and demand concepts.
In our efforts to prepare students for a changing world, students may be expected to utilize
computer technology while enrolled in classes, certificate, and/or degree programs within
HCCS.
The specific requirements are listed below: Computer technology: McGraw-Hill Connect:
For online quizzes, online assignment submissions, Microsoft Word document submissions,
discussion boards, etc.
Learning objectives
The student is to develop a basic understanding of the methods and subject matter of
economics within the framework of a “market economy,” macroeconomic theory to include
national income accounting, determination of the level of output, employment, price
indices and economic growth. Also, develop the impact of fiscal and monetary policy on
TECA 1303 – page 6
macroeconomic outcomes and the relationship between domestic economic activities and
transactions with the result of the world.
As an instructor, I want my students to be successful. I feel that it is my responsibility to
provide you with knowledge concerning the field of economics, modeling good teaching
strategies, and organizing and monitoring students that allow you to connect the
information that you learn in this course to the real world. Your success start with
attending TUTORIAL SERVICES FROM DAY 1.
As a student wanting to learn about the field of economics, it is your responsibility to read
the textbook, submit assignments on the due dates, study for the exams, participate in
classroom activities, attend class, and enjoy yourself while experiencing the real world
involving economics
As I believe that engaging the students in the learning is essential for teaching to be
effective, you will spend some class time involved in collaborative activities. You will be
involved in discussions with your classmates and your instructor. As you will want to
contribute to these discussions, you will need to come to class prepared to discuss,
analyze and evaluate information from your text and other assigned readings.
HCC Policy Statement - ADA
Services to Students with Disabilities
Students who require reasonable accommodations for disabilities are encouraged to
report to Kim Ingram at 713-718-8420 to make necessary arrangements. Faculty is only
authorized to provide accommodations by the Disability Support Service Office.
HCC Policy Statement: 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 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 will not help you. Students are responsible for conducting themselves with honor
and integrity in fulfilling course requirements. Penalties and/or disciplinary proceedings
may be initiated by College System officials against a student accused of scholastic
dishonesty. “Scholastic dishonesty”: includes, but is not limited to, cheating on a test,
plagiarism, and collusion.
Cheating on a test includes:
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Copying from another students’ test paper;
Using materials not authorized by the person giving the test;
Collaborating with another student during a test without authorization;
Knowingly using, buying, selling, stealing, transporting, or soliciting in whole or part
the contents of a test that has not been administered;
Bribing another person to obtain a test that is to be administered.
TECA 1303 – page 7
Plagiarism means the appropriation of another’s work and the unacknowledged
incorporation of that work in one’s own written work offered for credit.
Collusion mean the unauthorized collaboration with another person in preparing written
work offered for credit. Possible punishments for academic dishonesty may include a
grade of 0 or F in the particular assignment, failure in the course, and/or recommendation
for probation or dismissal from the College System. (See the Student Handbook)
HCC Policy Statements
Class Attendance - It is important that you come to class! Attending class regularly is the
best way to succeed in this class. Research has shown that the single most important
factor in student success is attendance. Simply put, going to class greatly increases your
ability to succeed. You are expected to attend all lecture and labs regularly. You are
responsible for materials covered during your absences. Class attendance is checked
daily. Although it is your responsibility to drop a course for nonattendance, the instructor
will not drop you for excessive absences, but you will be given an Fx. (Refer to the HCC
Student Handbook for further clarification of this grade).
If you are not attending class, you are not learning the information. As the information
that is discussed in class is important for your career, students may be dropped from a
course after accumulating absences in excess of 12.5% hours of instruction. The six
hours of class time would include any total classes missed or for excessive tardiness or
leaving class early.
You may decide NOT to come to class for whatever reason. As an adult making the
decision not to attend, you do not have to notify the instructor prior to missing a class.
However, if this happens too many times, you may suddenly find that you have “lost” the
class.
Poor attendance records tend to correlate with poor grades. If you miss any class,
including the first week, you are responsible for all material missed. It is a good idea to
find a friend or a buddy in class who would be willing to share class notes or discussion or
be able to hand in paper if you unavoidably miss a class.
Class attendance equals class success.
HCC Course Withdrawal Policy
If you decide that you need to withdraw from this class, the deadline is March 29. In the
past, you had to request to be dropped by an instructor or counselor, but now you have
the ability to drop yourself online by logging into your HCC Student
Center: https://hccsaweb.hccs.edu:8080/psp/csprd/?cmd=login&languageCd=ENG
If you are undecided, you can always discuss your academic performance with me or
contact counselors about other resources to help you succeed. Your success is very
important.
To help students avoid having to drop/withdraw from any class, HCC has instituted an
Early Alert process by which your professor may “alert” you and HCC counselors that you
might fail a class because of excessive absences and/or poor academic performance. It
is your responsibility to visit with your professor or a counselor to learn about what, if any,
TECA 1303 – page 8
HCC interventions might be available to assist you – online tutoring, child care, financial
aid, job placement, etc. – to stay in class and improve your academic performance.
**Final withdrawal deadlines vary each semester and/or depending on class length,
please visit the online registration calendars, HCC schedule of classes and catalog, any
HCC Registration Office, or any HCC counselor to determine class withdrawal deadlines.
Again, this semester’s date is November 2. Remember to allow a 24-hour response
time (excluding weekends and holidays) when communicating via email and/or
telephone with a professor and/or counselor. Do not submit a request to discuss
withdrawal options less than a day before the deadline. If you do not withdraw before
the deadline, you will receive the grade that you are making in the class as your final
grade.
Repeat Course Fee
The State of Texas encourages students to complete college without having to repeat
failed classes. To increase student success, students who repeat the same course more
than twice, are required to pay extra tuition. The purpose of this extra tuition fee is to
encourage students to pass their courses and to graduate. Effective fall 2006, HCC will
charge a higher tuition rate to students registering the third or subsequent time for a
course. 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.
Classroom Behavior
As your instructor and as a student in this class, it is our shared responsibility to develop
and maintain a positive learning environment for everyone. Your instructor takes this
responsibility very seriously and will inform members of the class if their behavior makes it
difficult for him/her to carry out this task. As a fellow learner, you are asked to respect the
learning needs of your classmates and assist your instructor achieve this critical goal.
Use of Camera and/or Recording Devices
As a student active in the learning community of this course, it is your responsibility to be
respectful of the learning atmosphere in your classroom. To show respect of your fellow
students and instructor, you will turn off your phone and other electronic devices, and will
not use these devices in the classroom unless you receive permission from the instructor.
Important: Laptops and/or epads are not allowed in the classroom.
Use of recording devices and camera phones, is prohibited in classrooms, laboratories,
faculty offices, and other locations where instruction, tutoring, or testing occurs. Students
with disabilities who need to use a recording device as a reasonable accommodation
should contact the Office for Students with Disabilities for information regarding
reasonable accommodations
Instructor Requirements
As your Instructor, it is my responsibility to:
 Provide the grading scale and detailed grading formula explaining how student
grades are to be derived
 Facilitate an effective learning environment through class activities, discussions,
and lectures
TECA 1303 – page 9
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Description of any special projects or assignments
Inform students of policies such as attendance, withdrawal, tardiness and make up
Provide the course outline and class calendar which will include a description of
any special projects or assignments
Arrange to meet with individual students before and after class as required
To be successful in this class, it is the student’s responsibility to:
 Attend class and participate in class discussions and activities
 Read and comprehend the textbook
 Complete the required assignments and exams:
 Ask for help when there is a question or problem
 Keep copies of all paperwork, including this syllabus, handouts and all
assignments
Grading
Your instructor will conduct quizzes, exams, and assessments that you can use to
determine how successful you are at achieving the course learning outcomes (mastery of
course content and skills) outlined in the syllabus. If you find you are not mastering the
material and skills, you are encouraged to reflect on how you study and prepare for each
class. Your instructor welcomes a dialogue on what you discover and may be able to
assist you in finding resources on campus that will improve your performance.
Grading Scale
90 - 100 = A
80 - 89 = B
70 - 79 = C
60 - 69 = D
Below 60 = F
Grading Percentages
Chapter quizzes
10%
Exam # 1
15%
Exam # 2
15%
Exam # 3
15%
Exam # 4 (critical analysis paper) 15%
Extra Credit
5%
Final Exam
25%
Total
100%
50 Points
75 Points
75 Points
75 Points
75 Points
25 Points
125 POints
500 Points
Any other assignments are extra credit and students are advised to take advantage of
these assignments in order to increase their grade point average in the class. The
instructor does not grade on a curve.
Examinations
Exams will contain multiple choices, true and false; fill in the blanks, short answers and
essays. There will be four (2) exams—three exams and one final exam which will cover
material from the entire semester. All questions must be answered on the question
TECA 1303 – page 10
sheets. Additional notebook paper on examinations will not be accepted. The essays are
assigned the day before the exam and must be typed and double spaced. Graphs are
accepted on graph paper.
Absences from Examinations
Absence from a test results in the absent person receiving 0 (zero) points on that test
because all quizzes and exams are set with due dates. There are no make-up
examinations or retake examinations. Only under extenuating circumstances is a student
excused from the examination. Then his/her final examination grade shall be applied for
the missing examination grade. The student must communicate with the instructor. No
communication will still prevail because a zero for that missed examination has been
enter into the grade book.
Students more than 10 minutes late for an exam are not allowed to take the exam and
shall be considered absent.
Research Paper
CRITICAL ANALYSIS PAPER:
Visit a local supermarket on two dates a month apart. Select 10 items of standard
products that the shop always sells. Record the prices of these 10 items on the two dates.
Assuming that a consumer buys one of each item in the basket you’ve chosen, calculate
(a) The cost of the basket in the first month.
(b) The cost of the basket in the second month.
(c) A price index for the second month.
(d) The inflation rate of these 10 prices over the month.
(2) On the basis of the price observations recorded in your answer to exercise (1), explain
and discuss the way in which commodity substitution and outlet substitution might
occur and the effects that these substitutions might have on the inflation rate in your
area during the month of observation.
(3) Keep a careful record of your own expenditures during a two-month period. Keep
separate data for month one and month two. In particular, record the items that you buy,
their prices, and the quantities that you buy. Use these records to calculate
(a) Your own CPI basket based on your month One expenditures.
(b) The percentage of your expenditures on each item.
(c) The cost of your CPI basket in month one (January 2015).
(d) The cost of your CPI basket in month two (February 2015).
(e) Your personal CPI for month two (February 2015).
(f) Your personal inflation rate in month two (February 2015).
(4) On the basis of your observations of your own expenditures in month one (January
2015) and month two (February 2015) (recorded in your answer to exercise (3), explain
and discuss the way in which your personal CPI is influenced by
(a) New goods
(b) Quality changes
(c) Commodity substitution.
(d) Outlet substitution
(e) Your term paper need to be TYPED, DOUBLE SPACE, INTRODUCTION PAGE,
TABLE OF CONTENTS PAGE, YOUR OBSERVATION, CONCLUSION, and
WORK CITED PAGE in a FOLDER. DUE 04/30/15. You may submit hard copy in
class on 04/3015 or in folder in my office:8001, room 320 Fulton, Houston, Texas
(1)
77021
YOUR PROJECT NEED A RECEIPT FOR PURCHASES PERIOD. NO RECEIPT, NO GRADE, NO
EXCEPTION. Please attach your receipt for all purchases at the back of your research paper,
thanks.
EXTRA CREDIT POINTS: ATTEND ALL SOCIAL SCIENCE CLUB SPEAKERS
SERIES (5% POINT). Dates, time and names of speaker will be publish on HCCS
website and poster will also be posted on all Northeast campuses. Please make every
effort to attend because the program is educational.
SPRING 2015 CALENDAR---------------------------------------------------------------ECON 2301
REQUIRED READING TO BE COMPLETED BEFORE CLASS END April 30TH, 2015
DATE:
TOPIC:
Jan. 19th, 2015
No Classes Observance of Martin Luther King, Jr.
Jan. 21th, 2015
Introduction
Jan. 26th-. 28th,
Chapter 1: Economics: The Core Issues
Feb. 2nd, 2015
Working with Graph (SUPPLY & DEMAND)
Feb. 4th, 2015
Chapter 2: The U. S. Economy: A Global View
Feb. 9th, 2015
Chapter 3: Supply and Demand
Feb. 11th, 2015
Exam #1: REVIEW CH. 1-3
Feb. 16th, 2015
President’s Day ALL HCC CAMPUSES & ADMINISTRATION
BLDGS CLOSED
Feb. 18th, 2015
Exam #1: Ch. 1-3
Feb. 23rd,, 2015
Chapter 4: The Public Sector
Feb. 25th-28th, 2015
Chapter 5: National Income Accounting
March 2nd – 4th, 2015
Chapter 6: Unemployment
March 9th, 2015
Exam #2: REVIEW CH. 4-6
March 11th, 2015
Exam #2 Ch. 4-6
March 14th – 22nd, 2015 SPRING BREAK
March 23nd, 2015
Last Day for Administrative/Student Withdrawals-(4:30pm)
March 25th-30, 2015
Chapter 7: Inflation
April 6th-8th, 2015
Chapter 8: The Business Cycle
April 13-15th, 2015
Chapter 9: Aggregate Demand
April 20th, 2015
Exam #3: REVIEW CH. 7-9
April 22nd, 2015
Exam # 3 CH. 7-9
April 27-29
Ch. 10 Basic Macroeconomic Relationship & Ch. 14 Money
and Banking
May 4th -6th, 2015
Final Exam Review Ch. 9, 13, & 14
May 11th, 2015
FINAL EXAM: Ch. 9, 13 & 14
Late Assignments
Late assignments are not accepted—so don’t even ask! They are due at the beginning
of the class period. Students who arrive late on the date of the assignments—these
assignments are not accepted. Absence from a class becomes the student’s
responsibility to contact a classmate or the instructor if an extra credit assignment had
been assigned.
Tardiness
Students arriving late for class must inform the instructor after class, otherwise student
shall be considered absent. Communication prior to tardiness or absence will still result
the student being tardy or absent. NOTE: Students continually leaving early will not be
tolerated by the instructor and will be considered absent for that day.
Students who have arrived late twice will be considered one absence.
Miscellaneous
Do not call the instructor or college if there are any questions regarding the grades.
Please make arrangements with the instructor for the following school session.
Students wishing to leave early during any class period must place themselves close to
the exit door so not to disrupt the class. Other than leaving for emergency purposes,
once students leave the classroom without permission, they are no longer allowed in the
classroom for that class period and will be considered absent for that period.
If a student must leave this semester earlier than the final examination date, the grades
earned for this semester will be averaged. Students must consult the HCC calendar. If
HCC conflicts with other colleges, universities or other personal or professional
schedules, students are advised not to enroll in HCC classes or commit to other
responsibilities.
Some students will be able to explain principles with an average time commitment;
whereas, others will be required to invest more time. Normally, at least two hours of
outside class time is required for each hour within the classroom. If 9 hours weekly are
not devoted to the class, the grade will be jeopardized.
Instructor Evaluations
They are to be done one line and will no longer be performed in the classroom. They
are called EGLS3. More information will be published later.
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-general-admissions-steps/submit-meningitis-documentation
PLEASE SIGN UP FOR NORTHEAST COLLEGE SOCIAL SCICE CLUB.
THE CLUB WILL HAVE A GUEST SPEAKER SEPTEMBER 23RD, 2014 FROM PRICE
COOPER WATERHOUSE, OTHER SPEAKERS FOR OCTOBER AND NOVEMBER
2014 TO BE NAME LATER. GUESS SPEAKERS NAMES AND DATE WILL BE
PUBLISH THROUGH HCCS WEBSITE AND POSTER WILL BE POSTED ON ALL
NORTHEAST CAMPUSES.
file:///C:/Users/Paye/Downloads/Economy_at_a_Glance.pdf
The above article is an economic about the Houston, Texas. Please read!!!
TUTORIAL SERVICES
MW AT NORTHLINE CAMPUS 4TH FLOOR ROOM # 423 FROM 3:00-5:00 PM
TTH AT THE PINEMONT CAMPUS ROOM # 157 FROM 4:00 – 7:00 PM
THE SOCIAL SCIENCE CLUB
Please come join the Social Sciences Club, all are welcome and your membership is important