1 COURSE SYLLABUS PRINCIPLES OF MACROECONOMICS ECON 2301 FALL 2013 ECON 2301 36556 Lec 034 PROFESSOR: OFFICE HOURS: HOME PHONE: E-MAIL: CLASS TIME: John U. Miller, Ph.D. 30 minutes before and after each class (830) 981-8675 (Recorder available) johnmillerut@aol.com (personal email) jmiller3@austincc.edu (ACC email) Wednesday 6:00-9:30 p.m. Course Description: Deals with consumers as a whole, producers as a whole, the effects of government spending and taxation policies, and the effects of monetary policy carried out by the Federal Reserve Bank. Macroeconomics is concerned with unemployment, inflation and the business cycle. Course Rationale: This course is meant to give the students insight into the dynamics of our national economy. The knowledge gained in the course will make students better informed citizens and allow them to follow the debates over national economic policy reported in the news media. This course is also a foundation course that will prepare students to be successful in upper division finance, marketing, business administration, economics, government, and social work courses. Course Requirements: The instructional methodology will be lecture and class discussion. The quality and quantity of each student’s work will determine her or his final grade. To gain the most benefit from this course, you must be prepared for class participation and tests. Plan to devote as many hours as is necessary to insure your ability to accomplish this goal. Assignments for reading/study are to be completed prior to each class meeting. Students are expected to actively contribute to the instructor-guided discussions. 2 Common Course Objectives/Student Outcomes: Students who complete this course will be able to understand: - the meaning of unemployment and inflation data and how that data is collected and computed; - the meaning and components of the National Income Accounts, especially Gross Domestic Product (GDP); - the meaning of the business cycle and its phases; - and to manipulate the basic Aggregate Supply, Aggregate Demand model of the macro economy; - how fiscal policy operates, its tools, and its advantages and drawbacks; - how a fractional reserve banking system works; - how monetary policy operates, its tools, and its advantages and drawbacks. Course Objectives: This course will provide the student with an exploration of topics in macroeconomics at a general level. The outcomes of this course are for the student to: a. Gain an understanding of macroeconomics. b. Understand how decisions are made using an economic perspective which considers scarcity, choice, rational behavior, and marginal analysis. c. Identify and analytically evaluate the elements of policy economics including economic goals and policy options. d. Enhance communication skills by providing opportunities for the exercise of both oral and written communication in the discussion of macroeconomics. Course Attendance: Regular attendance is expected. Exposure to an instructor’s explanations is an important factor in a student’s ability to master the material covered. Students who attend regularly will be awarded extra credit points. These extra credit points could be approximately 5% of the course grade. If a student misses more than 2 classes, these extra credit points could be instead deducted from your overall grade. Students are responsible for withdrawing themselves from the course if that is what their personal situation requires. If you do not complete all of the elements of the course (3 exams and answers to all topical questions) or withdraw from the course yourself, then you will receive an Incomplete (I) in the course. The instructor makes no promise either implicit or explicit to withdraw students from the course. The last day to withdraw from the course without penalty is Friday, September 20th . 3 In addition, students should be aware of a change in the law regarding Withdrawals, passed by the Texas Legislature in the spring of 2007. Starting in the Fall Semester of 2007, entering freshmen are restricted to six no-punitive withdrawals for the whole of their undergraduate careers while attending state colleges. “A student at ACC is expected to attend classes in order to progress satisfactorily toward completion of course objectives. The instructor shall inform students of specific course objectives at the first class meeting. A student who is not meeting course objectives may be WITHDRAWN from the course at the discretion of the instructor.” General Information: Each student is expected to attend all classes. Please inform the instructor in advance if you are unable to attend. Students who are discovered cheating, committing plagiarism, or violating ACC’s policies covering academic dishonesty will be awarded a failing grade for the course and may be subject to dismissal or further discipline. Academic integrity is expected. Scholastic Dishonesty: Acts prohibited by the college for which discipline may be administered include scholastic dishonesty, including but not limited to cheating on an exam or quiz, plagiarizing, and unauthorized collaboration with another in preparing outside work. Academic work submitted by students shall be the result of their thought, research or self-expression. Academic work is defined as, but not limited to tests, quizzes, whether taken electronically or on paper; projects, either individual or group; classroom presentations, and homework. Students with Disabilities: Each ACC campus offers support services for students with documented physical or psychological disabilities. Students with disabilities must request reasonable accommodations through the Office for Students with Disabilities on the campus where they expect to take the majority of their classes. Students are encouraged to do this three weeks before the start of the semester. 4 Required Text: Macroeconomics. Roger A. Arnold, Eleventh Edition, 2013. Thomson South-Western College Publishing Supplemental Readings: Additional materials may be handed out in class to supplement the discussion of certain topics. Course Grading: % of Grade Examinations (3) 75% Answers to Topical Questions 15% Class Participation 10% 100% *NOTE: All elements (3 exams and answers to topical questions) are to be completed and turned in, or a grade of Incomplete (I) will be given until every item is turned in. All elements are to be original work of each student. Grading Standards: The final letter grade will be based on the final average earned on all above criteria. A(90%-100%); B(80%-89%); C(70%-79%); D(60%-69%); F(Below 60%). Incompletes will only be granted with the instructor’s approval and subject to the requirements of Austin Community College. Class Participation: Student participation includes demonstrating interest and preparation for class by asking questions and volunteering answers to questions posed during class discussions. This is an opportunity to speak out and try new ideas in a supportive environment. The success of this course depends on you and your preparation. 5 MACROECONOMICS ECON 2301 Fall 2013 Week Date CLASS SCHEDULE Topic 1 September 25th Course Introduction and Overview Chapter 1. What Economics is About Appendix A: Working with Diagrams 2 October 2nd Chapter 2 Chapter 3 3 October 9th Chapter 5 Chapter 6 4 October 16th Chapter 7 Chapter 8 5 October 23rd Exam I (Chapters 1,2,3,5,6) Chapter 9 6 October 30th Chapter 10 Chapter 11 7 November 6th Chapter 12 Chapter 13 8 November 13th Exam II (Chapters 7 thru 11) Chapter 14 9 November 20th Chapter 15 10 November 27th Chapter 17 Chapter 18 November 28th Thanksgiving 11 December 4th Chapter 19 12 December 11th Exam III (Chapters 12,13,14,15,17,19) NOTE: This syllabus may be altered in the event of extenuating circumstances.