Benedictine University at Springfield
ECON 101-70 Principle of Macroeconomics (Online)
Session 2014 Spring
ONLINE
May 5th – June 29th, 2014
Instructor: Jay Sexton
Office Hours: By appointment
Email: jsexton@ben.edu
Phone Number: 217-622-5749
PRE-ASSIGNMENT: Read Chapters 1 & 2 and complete assignment located in syllabus outline
section.
ECON 101-70 PRINCIPLES OF MACROECONOMICS
I. COURSE DESCRIPTION: (3 credit hours) Determination of income, employment, and the price level.
Effects of fiscal and monetary policies.
II. TEXTBOOK & TECHNOLOGY
McConnell, Campbell R. & Brue, Stanley L. & Flynn, Sean M., Economics, 19th Edition, McGraw-Hill
Irwin, © 2009. ISBN: 978-0-07-351144-3. (Required)
Students will use D2L for this course. Students must take necessary steps to have access to this essential
resource prior to the beginning of the course. Necessary equipment includes, but is not limited to, a
computer, Internet connection, MS Word, MS Excel, D2L User ID, and D2L Password. The use of this
equipment and software will not be covered in the course.
III. MISSION STATEMENT: Benedictine University is dedicated to the education of undergraduate and
graduate students from diverse ethnic, racial and religious backgrounds. As an academic community
committed to liberal arts and professional education distinguished and guided by our Roman Catholic
tradition and Benedictine heritage, we prepare our students for a lifetime as active, informed and
responsible citizens and leaders in the world community.
IV. GOALS, OBJECTIVES, AND OUTCOMES
A. Benedictine Core Goals
Benedictine University's core mission is to prepare students for active participation in an increasingly
interconnected world. Its Core Curriculum advances this mission by enabling students to attain a
broad range of learning goals, listed below:
1. Demonstrate an effective level of cognitive, communicative, and research skills;
2. Achieve a college level of computational skills and an ability to understand and interpret numerical
data;
3. Acquire a knowledge of the history and heritage of western civilization, to include
 the contributions of religious faith and philosophical thought to understanding the person in
community,
 the relationship of the individual to society: membership and participation in groups and
institutions,
 scientific literacy through a knowledge of the history, the methods, and the impact of science on
the individual, society, and the environment,
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 artistic and literary heritage;
4. Develop an understanding of global society: cultural diversity, mutual relationships,
interdependence of peoples and nations;
5. Apply liberal learning in problem-solving contexts as preparation for active participation in
society;
6. Make informed ethical decisions that promote personal integrity, the legitimate rights and
aspirations of individuals and groups, and the common good.
B. Course Goals/Objectives/Outcomes
As a distribution course within the Core Curriculum, ECON 101 was designed with the above Core
goals in mind. Thus, upon successful completion of this course, the student will be able to
demonstrate mastery of the following objectives and student learning outcomes:
1. Define economic terminology and apply it to current events.
2. Understand concept of economic scarcity and how it impacts world economies and individual consumers.
3. Analyze the impact of governmental/political decisions on economic stability and growth.
4. Consider the ramifications of market structure and governmental intervention.
V. TEACHING METHODS: This class will be completed online using D2L (including discussion board,
PowerPoint slides, assignments, etc.) Students should monitor various news outlets for economic
information that relates to the topics covered in the course.
VI. COURSE REQUIREMENTS
A. Attendance/Participation – Students are expected to visit D2L for course information on a weekly
basis (preferably daily) to fully understand upcoming assignments. Attendance and participation will
be monitored through discussion board activity and weekly journal entries.
This course is highly accelerated, and students will need to take a great deal of responsibility for their
own learning outcomes. Attendance is required in each class meeting for the full period of time. Any
absence must be due to extraordinary circumstances and will require documentation for it to be
considered excused. Documentation must be provided immediately in order to determine what, if
any, accommodations are reasonable or possible. Class attendance will directly impact your final
grade, and each undocumented absence will be considered unexcused and will result in a 20%
reduction in the final grade for the course.
Due to the accelerated nature of the course, should you experience a medical condition which
prevents you from completing assignments, appropriate medical documentation must be provided
immediately to the instructor so it may be determined what, if any, accommodations are reasonable or
possible.
B. Reading Assignments – Reading assignments in the textbook are listed in the Course Outline. The
instructor reserves the right to alter the reading schedule listed in this syllabus. If this occurs, an
announcement will be posted on D2L. Articles from various outside sources which relate to the
subject matter may be assigned throughout the course.
C. Written Assignments – Students are expected to complete a variety of written assignments for this
course, including discussion posts, weekly journal entries, exams, and a final paper. Writing skills
will be a significant portion of the final paper evaluation.
1. Exams will consist of a combination of multiple choice and True/False questions. The Final
exam will not be cumulative. All exams will be online and timed. Students should closely
follow any instructions posted with the exam.
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2. Detailed instructions for weekly assignments will be posted on D2L in the Assignments
Section. Please note the due dates to avoid penalties.
3. Guidelines for the final paper will be posted to D2L during Week 4 or Week 5 of the class.
D. Makeup Work – No makeup exams will be given – exams must be completed by the stated time on
the syllabus and submitted according to instructions. It is the student’s responsibility to monitor all
due dates. No additional reminders will be sent to the students. The syllabus is your reminder. Late
work (written assignments and/or homework) will result in an automatic 25% reduction in the
assignment grade and will not be accepted more than 48 hours past the due date and time. All
assignments must be submitted via D2L – not by e-mail to the instructor. Instructions in D2L
must be followed closely.
E. Classroom Etiquette – Students are expected to exhibit respect and courtesy through any posts or
other interactions on D2L. Failure to do so will result in a loss of points for the assignment.
F. Benedictine University at Springfield Student Academic Honesty Policy
The search for truth and the dissemination of knowledge are the central missions of a university.
Benedictine University at Springfield pursues these missions in an environment guided by our Roman
Catholic tradition and our Benedictine heritage. Integrity and honesty are therefore expected of all
University students. Actions such as cheating, plagiarism, collusion, fabrication, forgery,
falsification, destruction, multiple submission, solicitation, and misrepresentation are violations of
these expectations and constitute unacceptable behavior in the University community.
Student’s Responsibility
Though there is no formal honor code at Benedictine University at Springfield, students are expected
to exhibit academic honesty at all times. Violations against academic honesty are always serious and
may result in sanctions that could have profound long-term effects. The final responsibility for
understanding the Academic Honesty Policy of the institution, as well as the specific policies for
individual courses normally found in syllabi, rests with students. If any doubt exists about what
constitutes academic dishonesty, students have the responsibility to talk to the faculty member.
Students should expect the members of their class to be academically honest. If students believe one
or more members of the class have been deceitful to gain academic advantage in the class, students
should feel comfortable to approach the faculty member of the course without prejudice.
Violations of the Academic Honesty Policy will be reported to the Office of the Dean of Academic
Affairs. Along with a verbal warning, the following are consequences a student may face for
academic dishonesty:

a failing grade or “zero” for the assignment;

dismissal from and a failing grade for the course; or

dismissal from the Institution.
VII.
COURSE EVALUATION
A. Grading Scale: 630 to 700 points = A
560 to 629 points = B
490 to 559 points = C
420 to 489 points = D
Less than 420 points = F
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B. Means of Evaluation of Outcomes:
Homework Assignments (7 @ 30 points each)
Journal Entries (7 @ 5 points each)
Discussion Questions (7 @ 15 points each)
Quizzes (3 @ 80 points each)
Analysis Paper
TOTAL
210 points
35 points
105 points
240 points
110 points
700 points
Grade Appeal Process
If a student believes that an error has been made in reporting a grade, an appeal must be made in
writing to the instructor and must be initiated within 60 calendar days after the end of the term for
which the grade in question was reported. The appeal should contain specific information about
why it is believed the grade reported is inaccurate. See the Student Handbook for additional details.
Add/Drop Dates
Please refer to the current Academic Calendar for add/drop dates.
Incomplete Request
To qualify for an “I” grade, a minimum of 75% of the course work must be completed with a
passing grade, and a student must submit a completed Request for an Incomplete form to the
Registrar’s Office. The form must be completed by both student and instructor, but it is the
student’s responsibility (not the instructor’s) to initiate this process and obtain the necessary
signatures.
Student Withdrawal Procedure
It is the student’s responsibility to officially withdraw from a course by completing the appropriate
form, with appropriate signatures, and returning the completed form to the Advising Office. Please
refer to the Student Handbook for important financial information related to withdrawals.
VIII. COURSE OUTLINE: The course calendar is tentative. Changes from the listed schedule will be
posted on D2L.
Week
Week # 1
May 5th May 11th
Week # 2
May 12th May 18th
Chapter
Topics
Assignments/Assessments
1&2
Opp costs, marginal analysis, ceteris paribus,
basic definitions, budget line, PPCs, Law of
Increasing Opp Costs, economic growth, types of
economic systems, basic tenets of market system,
role of consumer, circular flow model
Discussion Question Posts, Weekly
Journal Entry, Homework #1 due by
Sunday, May 11th at 11 pm.
3, 4 & 5
Demand & supply - laws & determinants,
equilibrium, impact of S & D changes, gov
intervention, 3 primary economic players & their
roles, gov's role in US economy, externalities,
public goods, gov revenue and expenses
Discussion Question Posts, Weekly
Journal Entry, Homework #2 due by
Sunday, May 18th at 11 pm.
EXAM #1 (Chs 1 – 4) due by Friday,
May 23rd at 11 pm
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Week # 3
May 19th –
May 25th
Week # 4
May 26th –
June 1st
Week # 5
June 2nd –
June 8th
Week #6
June 9th –
June 15th
Week #7
June 16th –
June 22nd
Week # 8
June 23rd –
June 29th
23 & 24
Recent trade patterns, comparative advantage,
foreign exchange & value of dollar, gov
intervention, free trade & global competition,
intro of macro terms, economic investment,
shocks, inflexible prices
Discussion Question Posts, Weekly
Journal Entry, Homework #3 due by
Sunday, May 25th at 11 pm.
25 & 26
National accounting measures, excluded
transactions, nominal & real GDP, GDP price
index, economic growth, modern growth,
ingredients of growth, role of labor and capital,
analysis of productivity
Discussion Question Posts, Weekly
Journal Entry, Homework #4 due by
Sunday, June 1st at 11 pm.
EXAM #2 (Chapters 5, 23, 24, &25)
due by Friday, June 6th at 11 pm
27 & 29
30 & 31
32 & 33
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Business cycle, unemployment types &
measurement, GDP gap & Okun's Law, inflation,
CPI, types & effects of inflation,
consumption/savings relationship &
determinants, interest rates/investment
relationship & determinants, multiplier
AD curve & changes, AS in short run & changes,
AD/AS equilibrium & impact of changes,
expansionary & contractionary fiscal policy,
options for each, built-in stabilizers, problems
with fiscal policy, debt & deficits
Discussion Question Posts, Weekly
Journal Entry, Homework #5 due by
Sunday, June 8th at 11 pm.
Discussion Question Posts, Weekly
Journal Entry, Homework #6 due by
Sunday, June 15th at 11 pm.
EXAM #3 (Chapters 26 - 30) due by
Friday, June 20th at 11 pm.
Functions of money, M1, value of money,
Federal reserve characteristics & functions,
FOMC, commercial bank B/S & transactions,
money creation, monetary multiplier
Discussion Question Posts, Weekly
Journal Entry, Homework #7 due by
Sunday, June 22nd at 11 pm.
Demand for money, equilibrium interest rate, Fed
B/S, Open-market operations, reserve ratio,
discount rate, Fed funds rate, expansionary and
restrictive monetary policy, effects of monetary
policy
Country Economic Analysis Paper
due by Friday, June 27th at 11 pm.
Homework Assignments: These will be posted under Assignments on D2L. This is the primary learning
tool of the class with students focusing on the key concepts from each chapter in completing the
assignment. Besides reading the text, this is where students are expected to spend the majority of the time
for the class.
Discussion Questions: Discussion questions for each week will be posted in the Discussion section on
D2L. Students are expected to post at least 1 response to each discussion question each week and respond
to at least 1 other student’s response (not one per each question, just one total). Discussion board activity
should be thoughtful and demonstrate that the student has spent time considering the subject, not just a
simple “Yes, I agree.”
Journal Entries: The purpose of journal entries is for the instructor to “touch base” with the students.
These will be submitted under Assignments on D2L. They should be short and contain the following
information.
1. Explain and “relate to the real world” a key concept you learned that week.
2. What difficulties are you experiencing with this class? What is going well?
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3. What suggestions do you have for improving the class or the presentation of the material?
IX. AMERICANS WITH DISABILITIES (ADA)
Benedictine University at Springfield provides individuals with disabilities reasonable accommodations
to participate in educational programs, activities, and services. Students with disabilities requiring
accommodations to participate in campus-sponsored programs, activities, and services, or to meet
course requirements, should contact the Resource Center as early as possible: springaccess@ben.edu or
(217) 525-1420, ext. 3306.
X.
ASSESSMENT: The weekly journal entry will assist the instructor in assessing student progress.
Lsa 4-10-14
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