Instructor:
Credit Hours:
Roger C. Bradley, Ph.D., Assistant Professor of Economics
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Meeting Times: MWF 9:00 a.m. – 9:50 a.m.
Office Information: Location: Third Floor, Wiley Hall
Location: Kenan 419
Hours: MWF: 8:00 a.m. -- 8:45 a.m.
TuTh: 8:00 a.m. – 12:00 p.m.
Other times by appointment
Office Telephone: 904-826-8510 or ext. 510 E-Mail: RBradley@flagler.edu
Course Description: An introduction to economic principles including national income determination, Keynesian and post-Keynesian theory, fiscal and monetary policy, plus an introduction to international economics.
Course Pre-requisites: None
Course Co-Requisites: This course is one componen t of the learning community for which the theme is “The
Good Life.” Students in this course must also be registered for the other courses in that learning community, viz.,
ENG 171 Honors English Composition and POS 201 Introduction to Political Theory.
Expected Student Learning Outcomes: Upon completion of this course, the student should be able to:
1. demonstrate the acquisition of factual knowledge about economics through the definition of important economic terms,
2. explain the basics of price theory, including the determination and function of prices,
3. apply course material to form an opinion about the proper relationship between government and the individual,
4. describe, use, and interpret the primary models used by macroeconomists, and
5. use macroeconomic theory to interpret current American societal issues.
Required Texts:
Heilbroner, R.and W. Milberg, The Making of Economic Society (Upper Saddle River, NJ: Pearson-Prentice
Hall, 12 th edition, 2008).
R. Miller and D. Benjamin, The Economics of Macro Issues (Boston: Pearson-Addison Wesley, 3 rd edition,
2007).
Course Requirements and Methods of Assessment:
There will be 700 points available during the semester:
Problem Set 1
Exam 1 (Warm-up):
Problem Set 2
Exam 2 (Mid-Term):
Problem Set 3
Exam 3 (Late-Term):
Total
LC Common Assignment
Final exam
20 points
100 points
20 points
100 points
20 points
100 points
210 points
130 points
700 points
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Problem sets are assignments based on the current course material, and are intended to encourage students to interact with the course material and prepare them for exams. Students are allowed to work together on these assignments, but students are responsible for their own answers, which should be provided in the student’s own words and not simply copied from another student.
Examinations: The three examinations will typically consist of a mix of questions, including multiple-choice and short-answer questions. These will be taken to a great extent from the class discussion questions. Dates are on the course calendar, below. If you miss an exam, you can only make it up if you have an excused absence as defined by the Flagler College Catalog, cleared with the Office of the Dean of Academic Affairs.
The final exam is cumulative.
Methods of Instruction: Lecture and discussion are the primary means of instructing students in this course.
Tools of economics are applied to real-world issues and controversies to make the basic concepts of economics relevant. Students are encouraged to be active classroom participants.
Grading Scale:
Scale
A
B
C
90-100% (627 to 700 points)
80-89% (557 to 626 points)
70-79% (487 to 556 points)
D
F
60-69% (417 to 486 points)
Less than 60% (< 417 points)
Class Attendance Policy: Class attendance will be taken by class seating chart at the beginning of class. It is the responsibility of any student entering the class late to inform the instructor immediately after class that he is late rather than absent. Any student who enters class more than 15 minutes late will still be considered absent.
Two lates will be counted as one absence. According the College policy, “A student who is absent, for any reason, (excused or unexcused), more than 20% of the scheduled class meetings for the academic semester will not receive credit for the course. Students must request all excused absences through the Office of the Assistant
Dean of Academic Affairs or through the College Nurse and must provide appropriate documentation to obtain an excused absence.
”
For this course, as part of “The Good Life” learning community cluster, absences will affect your grade as follows:
You are permitted three unexcused absences without penalty, but any in excess of these will incur a penalty of ½ a letter grade on your final (course) grade for each absence.
Phones, PDAs, and other electronic devices
All electronic communication devices (including, but not limited to, cell phones, PDAs, and Blackberries) are to be turned off and stored out of sight during class. Note that this precludes their use as calculators during exams.
The purpose of a policy on electronic communication devices is twofold.
First, we have an obligation to others to avoid being a distraction during class. Ringing phones, including the vibration of a silenced phone, cause students (not to mention the instructor) to become distracted and make attention to the lesson more difficult.
Second, there exists in the possession and use of an electronic communication device during class a potential temptation to misuse it. One will never be tempted to distract oneself or communicate with others during class if the device is off and stowed away.
This policy applies also to notebook/laptop computers in class if in the opinion of the instructor it creates an unnecessary distraction.
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Academic Honesty: Cheating, plagiarism, violation of test conditions, complicity in dishonest behavior, or other falsification of academic work is a serious breach of College expectations and is subject to immediate disciplinary action. In particular, the minimum penalty for academic dishonesty of any kind will be a grade of zero on the assignment in question. Further penalty will be at the discretion of the instructor.
Course Calendar:
HM denotes Heilbroner and Milberg’s text, The Making of Economic Society; MB denotes Miller and Benjamin’s
The Economics of Macro Issues; other readings are linked from the MyFlagler course page.
Schedule
Week Assignments for the Week
0 (9/2-9/4)
1 (9/7-9/11)
2 (9/14-9/18)
3 (9/21-9/25)
Class Topics
Course Introduction
The Economizing Problem
Opportunity
Cost Markets
Demand and Supply
Equilibrium
Price Controls
GDP
Business Cycles
Investment
Government and Markets
HM pp. 1-12
Williams, “Economics 101”
HM pp. 36-56
4 (9/28-10/2)
5 (10/5-10/9)
6 (10/12-10/16)
7 (10/19-10/23)
8 (10/26-10/30)
9 (11/2-11/6)
10 (11/9-11/13)
11 (11/16-11/20)
12 (11/23-11/25
13 (11/30-12/4)
Monetary Policy
Fiscal Policy
International Trade
Technology and Economic Growth
Inflation
Supply Shocks
Income Distribution
Modern Socialism
The Soviet System
Modern Transitions to Capitalism
Historical Foundations of Modern
Markets
Industrial Development
Capital
Saving and Investment
Industrial Organization
Globalization
Outsourcing
International Finance
The Wealth of Nations
Solutions to Poverty
Williams, “Economics of Prices”
Sowell, “An Ancient Fallacy”
HM pp. 97-108
EMI Chapter 12, “Measuring GDP”
Bartlett, “Underground Dwellers”
HM pp. 111-121
EMI Chapter 27 , The Trade Deficit”
Problem Set 1 Due 9/30
Exam 1 (Chapters 1,3,6,7) 10/2
HM pp.135-142
EMI Chapter 2 “Technophobia and Economic
Growth”
HM pp. 145-156
EMI Chapter 11, “The Problem With Inflation”
Rector, “Poverty in the United States”
HM pp. 159-167
HM pp. 15-33
EMI Chapter 6, “Poverty, Capitalism, and Economic
Growth”
HM pp. 22-33
Problem Set 2 Due 10/28
Exam 2 (Chapters 9,10,11,02,not 12) 10/30
HM pp. 60-77
E MI Chapter 16, “The Brain Gain”
HM pp. 80-89
HM pp. 89-94
HM pp. 170-177
HM pp. 177-182
EMI Chapter 5 “Outsourcing and Economic
Growth”
HM pp. 185-193
EMI Chapter 1, “Rich Nation, Poor Nation”
Problem Set 3 Due 11/30
Exam 3 (Chapters 4,5,12,13) 12/2
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Statement on Disabilities: Flagler College offers special academic accommodations to students with documented disabilities. Services include alternative test administration and/or services of interpreters, notetakers, and readers. In order to receive special academic accommodations, a student must register with the
Office of Services for Students with Disabilities (OSSD) and provide required documentation of disability.
Students must contact Ms. Deborah Kamm-Larew at 819-6460, or, dkamm@flagler.edu.
Flagler College Core Competencies: Flagler College has identified seven Core Competencies as essential components of our academic program. All graduates, regardless of their major, must demonstrate that they are competent in all seven of the following areas: reading, writing, speaking, mathematics, technology, research, and critical-thinking. Therefore, each Flagler College course must emphasize at least two Core Competencies.
ECO 201 addresses the following Core Competencies which are measured by the by the methods listed below the competency.
1 st Core Competency: Reading
Measured by: General student success in the class.
2 nd Core Competency: Mathematics
Measured by: Performance on course examinations and homework assignments which require the use of simple mathematics.
3 rd Core Competency: Critical Thinking
Measured by: Performance on portions of course examinations which require analysis and evaluation of ideas and arguments.
Copyright 2009 (Roger Bradley) as to this syllabus and all lectures. Students are prohibited from selling (or being paid for taking) notes during the course to, or by any person, or commercial firm without the express written permission of the professor teaching the course.
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