MIAMI-DADE COMMUNITY COLLEGE
SCHOOL OF BUSINESS
Kendall Campus
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Eco 2013 Macroeconomics
Fall 2004-1
3 credits
TR 8:25am
Prof. M. Mari
305-237-0341
mmari@mdcc.edu
Room 6319 #29
http://faculty.mdc.edu/mmari
Course Description:
A study of the basic economic concepts, related institutions and their implications to society.
Modern national income formation theory, economic fluctuations, money, banking, monetary,
and fiscal policy, economic stabilization theory and policy, the public sector, theory of economic
growth and development, comparative economic systems.
Course Competencies:
Competency 1: The student will demonstrate knowledge of basic economic concepts by:
a. Defining economics.
b. Analyzing scarcity and resource allocation with respect to choices by
economic groups.
c. Developing a production possibilities frontier for a two good economy and
determining its affect on economic growth.
d. Discussing the implications of opportunity costs to decision in
economics.
e. Diagramming Circular Flow Chart and analyzing the interaction of
economic groups within it.
Competency 2: The student will demonstrate knowledge of comparative economic systems by
:
a. Describing an economic system.
b. Differentiating among major economic systems by utilizing the basic
economic questions.
c. Analyzing historic events, which led to the development of different
economic systems.
d. Evaluating current events in light of changes in economic systems.
e. Determining compatible role of government with economic development.
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Competency 3: The student will demonstrate knowledge of national goals, income formation
and fiscal policy by:
a. Describing national economic goals and how they are prioritized.
b. Interpreting business cycle stages.
c. Defining full employment and types of unemployment categories.
d. Analyzing the correction methods available to government to reduce
unemployment.
e. Explaining price stability, types of inflation, deflation, and stagflation.
f. Developing an analysis of inflation using the Phillips Curve.
g. Discussing the effect of inflation on young and old households, businesses,
and
international trade.
h. Developing national income and product account models.
i. Analyzing the components of Gross Domestic Output: consumption,
investment,
government expenditures, and net export.
j. Applying national income models to determine equilibrium level of output and
income.
k. Computing rating inflationary and deflationary gaps.
l. Computing the multiplier principle.
m. Analyzing fiscal policy implication using Classical and Keynesian models.
Competency 4: The student will demonstrate knowledge of money, banking, and monetary
policy concepts by:
a. Evaluating differences between barter and a money system.
b. Differentiating between money's characteristics and its functions.
c. Describing historical development of money and banking in the U.S.
d. Illustrating Federal Reserve System's structure and responsibilities.
e. Analyzing monetary policy major and minor tools and its effect on the economy.
f. Developing and analyzing the process of creating money.
g. Discussing monetarist policy and its current applications in the U.S.
economy.
Competency 5: The student will demonstrate knowledge of international trade and finance by:
a. Applying comparative advantage theory on trade by individuals, regions, companies,
or nations.
b. Developing a rationale for trade and its implications to economic growth.
c. Describing the gold standards.
d. Contrasting pre-World War II international trade policies to post World War II.
e. Developing an understanding of the concepts of developed and developing
economies.
f. Analyzing the effect of the Bretton Woods programs: World Bank, International
Monetary Fund; adjustable peg exchange, to current economic situations in developed
and developing countries.
g. Determining the effect of barriers to trade on developed and developing economies.
h. Describing GATT, WTO and NAFTA and its effect on the U.S. economy and foreign
economic policy.
Competency 6: The student will demonstrate knowledge of socio-economic concerns by:
a. Analyzing the costs/benefits of private versus public production.
b. Illustrating the "free rider" concept in the current economy.
c. Discussing spillover effects of public education.
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d. Analyzing costs/benefits of: child-care, welfare reforms, social security,
national debt, crime, nuclear waste removal, environmental debates, and national demographics.
Evaluation:
Examinations
Internet assignments
Article summaries
Homework
Total Points
300 points
20
20
20
360
Examinations: The students will complete three examinations over the semester. The lowest
grade will be dropped in the calculation of your final grade.
Makeup Policy: There are no make-ups allowed in this course.
Internet Assignments: The student will be involved in using the internet to comply economic
data. The data collected will be interpreted and applied to economic models.
Search # 1: Search for information on the demand and supply of the following fuel
types: coal, natural gas, and petroleum. What are the factors that effect fuel demand?
What factors affect fuel supply? What concerns about supply or demand have you found
in your research?
Search #2: Find information about the following indexes. List their values over the last
three months:
 New housing Starts
 Durable goods sales
 NYSE closing value
 Consumer confidences
 Business inventories
 Consumer Price Index.
What does this predict about the economy for the next three months?
Search #3: List the amount of money available for M1 and M2 purposes. What is the
Federal Reserve’s discount rate for the last year (on a monthly basis)? What is the
Federal Reserve’s reserve requirement for the last year (on a monthly basis)? What is
the Federal Reserve’s forecast for the economy for the next three months?
Article Summaries: Students will select three articles related to the macroeconomics from
recent periodicals. Students will prepare a summary of the article and their opinion of such.
Homework: Two homework assignments are required for the Macroeconomics courses. These
assignments will emphasize the mathematical computations related to economic theory
discussed in the course.
Extra Credit Assignments: Extra credit points will be available
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Student Responsibilities and Conduct
Academic Dishonesty (as defined by the College) includes, but is not limited to cheating on
examinations; receiving help from other students (unless permitted by the instructor)
plagiarizing; submitting work from another course (unless permitted by the instructor); and
assisting anyone doing these things. Academic Dishonesty is considered to be a serious offense
and may result in failing an assignment, receiving an “F” in the course, or dismissal from the
College. See the Students’ Rights and Responsibilities Handbook for further information.
Students should make a special effort to arrive in class ON TIME. IT is disruptive and
discourteous to the instructor and to other students. If tardiness is unavoidable’ please come
into the class and sit quietly without bothering other students.
Cell phones, pagers, or beepers should be turned off when entering the classroom. Please
inform those who call you that when you are in class you are unable to receive calls.
Grading:
A
B
C
D
F
360 - 324
323 - 287
286 - 250
249 - 213
Below 213
DUE DATE:
Last day to turn in any work is
Tuesday, December 7, 2004 at Noon
No exceptions to the deadline will be made.
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