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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.
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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 .
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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.
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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.
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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.