ECN201
Principles of Economics
Introduction to Macro-Economics
Syllabus
Fall 2010
Professor:
Office Location:
Office Hours:
Phone Number:
E-mail:
Vilma Vallillee, Ph.D
Poling Center, 2 Floor
Mon. & Wed. 9:00am – 11:30am
(517) 750-1547
vilma.vallillee@arbor.edu
nd
Fax Number:
Class Time:
Class Location:
(517) 750-6624
Tuesday/ Thursday 2:00- 3:25pm
Poling Center, 203
Global Program Objectives
At the Spring Arbor University School of Business and Management we seek to
love God with all our heart, mind, and strength. As a result we also seek to
educate the whole person, including the mind and heart, body or strength, and
soul. Thus we are seeking to develop our students’ knowledge, attitudes, skills
and faith.
Mind
Strength
We want to impart basic and critical knowledge We also seek to develop our students’ skills particularly in these
and ideas about the following areas:
areas:
K1
K2
K3
K4
K5
K6
K7
K8
K9
The Vocabulary of Business
S1
General Accounting
S2
Marketing
S3
Financing
S4
Computers
S5
World Partnerships
S6
Supervising
S7
Strategic Analysis/Planning/Execution S8
Knowledge of the Bible, Its Claims, and S9
Those of Other Faiths
Heart
Listen
Speak
Write
Persuade
Plan
Decide
Correct
Serve
Risk
Soul
We seek to encourage right attitudes in the
following areas:
By example and exhortation we hope to help our students grow in
their faith:
A1
A2
A3
A4
A5
A6
A7
A8
A9
F1
F2
F3
F4
F5
F6
F7
F8
F9
Love
Peace (courage)
Joy (enthusiasm, confidence)
Patience (persistence)
Kindness
Goodness
Gentleness
Faithfulness
Self-Control
Recognition of the One True God and Jesus Christ His Son
Gratitude to God
Humility before God
Service to Fellow Creatures and Stewardship of Creation
Walking by the Spirit
Practicing the Discipline of Prayer
Ability to Discern
Sharing God with Others
Christ-Like Attitude
Course Description
This course is an introduction to macro-economics. The American economy as a
whole. Includes: organizational and functional aspects of American capitalism;
the money and banking system; factors that determine aggregate employment,
production and income; fiscal and monetary policies.
Course Objectives:
By the end of this course, students will be able to:
1. Understand the measurement of domestic output and national income.
2. Describe economic growth and it’s current application to the current economy.
3. Compare and Contrast various business cycles from a macroeconomic
perspective.
4. Examine the implications and consequences of unemployment and inflation.
5. Define monetary and fiscal policy and it’s application to both past and present
American economies.
6. Grasp the monetary importance of money within the domestic and
international economy.
7. Understand aggregate supply and demand using applicable industrial
examples.
Required Textbooks
McConnell, Brue, Flynn. (2009). Economics, 18th edition. The McGraw-Hill
Companies. New York, New York.
ISBN: 978-0-07-337569-4
Late Assignments
Please note that assignments must be submitted in class or electronically the on
the designated due date (11:59pm). Late assignments will be deducted 5 points
per day unless prior permission was granted. So, please plan ahead and give
yourselves enough time to prepare for the assignments.
Please use APA style in your assignment. Points will be deducted if you do not
use APA style.
Contacting the Professor
There are 4 ways to contact Professor Vallillee:
1) Phone: 517- 750-1547
2) Office: Poling Center, 2nd Floor
2) E-Mail: vilma.vallillee@arbor.edu
3) My SAU website (online course website)
In case of emergencies, all material will be posted on the SAU course website.
All student inquiries will be answered within 24 hours.
Midterm and Final Exam
There will be both a midterm and final exam for this course. Both of these exams
will constitute 1/2 multiple choice questions and 1/2 short essay questions. As
well, both exams will be closed books and only calculators and pencils will be
permitted on desks.
Articles
Each class session, (unless indicated otherwise) 2-3 articles will be discussed
within the class. The content to these articles will be applicable to the course
material covered for that particular class session.
Students will also be responsible for:
1) Participating in class discussion regarding article topic.
2) Contributing articles (2 bonus points per article; max. 4 points per week) **
Articles must be in paper format and given to the Professor the day of the
class. Contributor must also verbally summarize the article.
Attendance and Participation
Participation is a very important component in this course. It constitutes 300
points or 30% of your grade. The quality of your participation will be graded daily
and will reflect the participation rubric (see below).
You are expected to actively participate; therefore the amount of time and effort
you devote in classroom discussions is factored into the analysis when
formulating a participation grade.
Debate and the expression of your faith and opposing views are encouraged, but
at all times must be accompanied by a corresponding level of respect for the
opinions of others. While participating in group and classroom discussion, please
feel free to fully express yourself and be sure show courtesy to others at all
times. Your participation can constitute of the following: questions asked,
answers, opinions, comments, other meaningful justifications about the subject
matter discussed, etc. Participation discussion should be meaningfully answered
with relevant content to the topic. Our discussions will revolve around cases,
articles, chapter material, etc.
Participation Rubric
Participation and Attendance Rubric (Each Class Session)
GRADE
3
2
1.5
1
0
Exceptional
participation via
questions/answers
Listens well to
other’s opinions
Contributes and
builds ideas
Participation
Listens well to
other’s opinions
Contributes ideas
Prepared for class
(readings and
material)
Prepared for class
(readings and
material)
Engages and leads
in classroom
discussions
Engages in
Articulates and
justifies answers
Attendance
Very good
participation via
questions/ answers
Yes
classroom
discussions
Yes
Fair participation
via questions/
answers
No particiption
Moderately listens Rarely listens to
to other’s opinions other’s opinions
Occasionally offers No contribution to
ideas
class discussion
n/a
Minimally
No engagement in
prepared for class classroom
discussion
(readings and
material)
Occasionally
engages in
classroom
discussions
Yes
Not prepared for
class (readings
and material)
Yes
No
Grading Composition:
Item
Points
Percent
Attendance & Participation
300
30%
Homework Assignment #1
100
10%
Midterm
250
25%
Homework Assignment #2
100
10%
Final Exam
250
25%
1000
100%
Total
ECN202 – Principles of Economics (Micro-Economics)
Course Agenda:
DATE
Course Materials
Jan 28th Welcome
Overview of the Course, Objectives, Assessments, etc.
Feb 2nd Chapter 1: Limits, Alternatives and Choices
Chapter 2: The Market System and the Circular Flow
Feb 4th Chapter 3: Demand, Supply and Market Equilibrium
Articles
Feb 9th Chapter 4: The U.S. Economy: Private and Public Sectors
Articles
Feb 11th Articles: Domestic & International Articles
Feb 16th Chapter 5: The United States in the Global Economy
Articles
Feb 18th Chapter 23:An Introduction to Macroeconomics
Articles
Feb 23rd Chapter 24: Measuring Domestic Output and National Output
Articles
Feb 25th Chapter 25: Economic Growth
Articles
Mar 2nd Chapter 26: Business Cycles, Unemployment, and Inflation
Homework Assignment #1 Due
Mar 4th Chapter 27
Articles
Mar 9th Review of Homework Assignments
Mar 11th Chapter 28: The Aggregate Expenditures Model
Articles
Mar 16th Chapter 29: Aggregate Demand and Aggregate Supply
Articles
Mar 18th Chapter 30: Fiscal Policy, Deficits and Debit
Articles
Mar 23rd Midterm Exams
Mar 25th Chapter 31: Money and Banking
Articles
Mar 30th Review of Midterm Exam
April 1st Chapter 32: Money Creation
Articles
April 6th Chapter 33: Interest Rates and Monetary Policy
Articles
April 8th Chapter 34: Financial Economics
Articles
April 13th Chapter 35: Extending the Analysis of Aggregate Supply
Articles
April 15th Chapter 36: Current Issues in Macro Theory and Policy
Homework Assignment #1 Due
April 20th Review of Homework Assignments
April 22nd Articles
April 27th Articles
April 29th Review Course Work / Recap
May 11th Final Exam
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