Name/Number of Course:
Term:
Number of Credits:
Class Days/Times/Location:
Reference:
Professor’s Name:
Phone Number:
Eco 2013 Macroeconomics Honors
Fall 2004-1
3 credits
MWF 10:00am
E-Mail Address:
Office Hours:
Web page
Course Description:
Prof. M. Mari
305-237-0341 mmari@mdcc.edu
Room 6319 #29 http://faculty.mdc.edu/mmari
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 e. Diagramming Circular Flow Chart and analyzing the interaction of economics. 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.
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e. Determining compatible role of government with economic development.
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.
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c. Discussing spillover effects of public education.
d. Analyzing costs/benefits of: child-care, welfare reforms, social security, national debt, crime, nuclear waste removal, environmental debates, and national demographics.
Evaluation:
Examinations 300 points
Internet assignments 20
Case study
Homework
Honors Project
20
20
40
Total Points 400
Examinations: The students will complete three examinations and a cumulative final 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?
Case studies: Students will work in groups to complete analysis on a case study assigned to them
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.
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Honors Project: Students will complete a ten page paper on an economist which has been awarded a Nobel Prize from his or her work. The paper is to give a brief biography of the individual and focus on his contribution to the field of economics. The paper will be tested for plagiarism.
Extra Credit Assignments: Extra credit points will be available
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
400 - 360
359 - 319
318 - 278
277 - 237
Below 236
DUE DATE:
Last day to turn in any work is
No exceptions to the deadline will be made.
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