Introduction to Economics Common Sense Economics for Life! ECO 2000-01 Summer B This Online Class Meets: Time: Anytime Place: Anywhere There are no face-to-face meetings with instructors. All designated times are in the Eastern Time (ET) zone. Instructors: Emails: Blackboard hours: Rosemarie Fike rf09c@my.fsu.edu or rfike@fsu.edu Monday – Saturday: 9 – 12 pm (ET) and by appointment. During these hours you can expect replies to your emails. Appointments are available via Skype or phone upon request. ** Email is the best way to reach me. It is checked frequently. Please contact me using the message function within the ECO 2000 Mail tab located in Blackboard menu, as I will always check this first during contact hours. Please make sure you identify yourself with your full name. ** Required Text: James D. Gwartney, Richard L. Stroup, Dwight R. Lee, Tawni H. Ferrarini. . New York: St. Martin’s Press, 2010. ISBN: 978-0-312-64489-5. **Additional readings will also be posted on Blackboard. You may also want to refer to the following website for readings and helpful study materials: www.commonsenseeconomics.com** ** I will also be emailing you and posting grades on Blackboard (campus.fsu.edu) so please check these frequently. Since FSU is a public institution, email messages are subject to open access requests and other intrusions, so please do not state your Social Security Number or any other sensitive information on any message. ** The class Blackboard site is restricted for use of class-related material. Please do not use the site for personal reasons such as selling property, advertising, or soliciting. Bulk emails are especially suspect because FSU administrators and faculty may be listed as users of the site and receive those messages. Any files, including videos, are intended for educational use for this class only. Course materials are subject to copyright laws and should not be downloaded, distributed or used for other purposes. Course Objectives: This course is designed to help students understand the major concepts and lessons of economics. The class incorporates materials (e.g. video clips, web sites, and activities) assembled and developed by the Excellence in Economic Education faculty of the Stavros Center for Economic Education of Florida State University. The primary objective of the class is the promotion of better understanding, communication, and teaching of economics in the future. The course will focus on: • • • How choices are influenced by changes in incentives The importance of trade as a source of economic progress The economic role of private property rights 1 Introduction to Economics Common Sense Economics for Life! ECO 2000-01 Summer B • • • • • • • How a market economy works The importance of competition Why some nations prosper while others stagnate How the political process (voting) works and how it handles economic issues The key ingredients of sound personal-finance decision-making How a layperson can make sound saving and investment choices How to communicate economics in an interesting and understandable manner Learning Modules: This course is a 16-module course. Every week will be based two or three learning modules that corresponds to sections of the Common Sense Economics textbook and one supplement. Each learning module will have some combination of assigned readings, podcasts, and video clips. PowerPoint slides are provided to assist with taking notes. These learning materials will expand your economic knowledge and prepare you to tackle the graded assignments, complete quizzes, expand initial work on the discussion board and take exams. The class is divided into 4 sections to correspond with the 4 parts of the Common Sense Economics (CSE) textbook. The breakdown of points for each module is below: Section I Section II Section III Section IV Total Modules Modules 1-4+A Modules 5-7 Modules 8-11 Modules 12-15 Discussion Board 50 60 80 80 270 Assignments Quizzes Exams Total 40 50 80 220 30 30 100 220 40 40 120 280 80 40 200 400 190 160 500 1120 Exam One offers 40 questions and each correct answer is worth 2 points [Complete by 11 pm (ET) on Monday, 05/26/14]; Exam Two offers 40 questions and each correct answer is worth 2.5 points [Complete by 11 pm (ET) on Monday, 06/02/14], Exam Three offers 40 questions and each correct answer is worth 3 points [Complete by 11 pm (ET) on Monday, 06/09/14]; and Exam Four or the Final offers 50 questions and each correct answer is worth 4 points each [Complete by 11 pm (ET) on Friday, 06/20/14]. This policy places less weight on earlier class obligations and grants you time to adapt to course expectations and the experience of online learning. As you become more and more comfortable with how this course works, more weight is placed on your overall understanding of economic reasoning and how to use it to explain how different economies work; resource allocation in markets and government; and personal finance. Overall, the course is set up to maximize your success while adapting to learning in an online environment. Assignments, discussion boards, quizzes, and exams will be graded by the Tuesday following their due date. All grades will be considered final after the final exam has been completed, so please make sure you address any perceived discrepancies before attempting the final exam. It is your responsibility to monitor your grades on a regular basis. 2 Introduction to Economics Common Sense Economics for Life! ECO 2000-01 Summer B Grading Scale: Your final grade will depend on how many points you earn throughout the semester according to the following scale: Grade A AB+ B BC+ C D F Points 1030.4 or higher 1008 – 1030.399 985.6 – 1007.999 918.4 – 985.599 896 – 918.399 873.6 – 895.999 772.8 – 873.599 649.6 – 772.799 649.599 or lower Graded Learning Tasks: This section will describe the learning tasks that you need to complete to earn points throughout the semester. Please make sure you read these descriptions carefully so you understand your responsibilities as a student. Discussion Board Posts (270 Total Points): The first thing you will do every week is answer the pre-learning questions posted on the discussion board for the modules we are focusing on that week. Just reply to the posted discussion thread (please do not start a new thread) with your initial thoughts to a question. Do not prepare for the question. All that counts is that you provide an initial answer before going over the material. Your response will not be graded for accuracy but rather that you completely and thoughtfully answered each question. Using the posted PowerPoint slides linked to the assigned Common Sense Economics (CSE) elements, read the CSE textbook, watch the video clips, and listen to the podcasts and/or non-CSE readings. You are preparing to complete the module’s assignment, quiz and post-learning discussion board work by replying to initial prethoughts’ post. (Again, please do not start a new thread in the discussion board.) Your post thoughts in the discussion board will be graded on how well you integrated what you learned throughout the module in adapting your pre-learning response to one of the listed questions. When completing your discussion board posts, please remember to number your answers so it is clear to the instructor which question you are answering. Also, please be professional and courteous at all times. This means writing in complete sentences and spelling out all words (no text messaging or instant messaging format) as well as refraining from the use of profanity and disrespectful language towards the other students. Please avoid using all CAPS unless you are trying to draw positive attention to something you want to point out. Finally, this is a discussion board, so in addition to the posts replying to the questions, please feel free to reply to other students posts so long as you do so in a respectful and courteous manner. These additional replies will not be graded but could start an interesting dialogue that results in enhanced learning and better performance on the quizzes and exams. Please note that you must have both your pre and post thought discussion board posts with references submitted for each module by Sunday at 11:30 PM to receive credit. You can always complete this early, but never late! 3 Introduction to Economics Common Sense Economics for Life! ECO 2000-01 Summer B Assignments (190 Possible Points): Some of the learning modules contain assignments that correspond with the material presented within that module. The majority of assignments will be completed through blackboard and each assignment is worth between 10 and 20 points depending on the length and complexity of the assignment. It is highly recommended that you complete all of the readings and watch all of the videos before attempting to complete the assignment. Please note that, for modules that contain an assignment, the assignment must be completed and submitted by Saturday at 11:00 PM to receive credit. You can always complete this early, but never late! Quizzes (160 Possible Points): At the end of each module is a quiz consisting of 10 questions that test you about what you learned within that module. The number of points each question is worth increases as you move through the course (please see the section entitled “Learning Modules” for the reason why this is the case). Please make sure you have gone through and studied all of the materials, including the textbook reading, the PowerPoint slides, any additional readings, and any video clips before attempting to take the quiz. You have 3 chances to take each quiz and your highest score is the one that counts. You will have 30 minutes to complete and submit each attempt once you open it. So be prepared to work, save your answers and complete the quiz in the allotted time. The quiz will close in 30 minutes after you start it. (The same holds true for the exams.) Please note that you must complete and submit the quiz for each module by Sunday at 11:00 PM to receive credit. You can always complete this early, but never late! Exams (500 Possible Points): Please note that there are exams at the end of modules 4, 7, 11, and 15. All of the exams are cumulative in that each will cover all of the information from the beginning of the course up until that exam. You will only have one attempt for each exam. The questions are progressive, save each answer and you understand that you may not go back to answer a question. You have 120 minutes (two hours) to complete and submit the attempt for exams 1, 2, and 3 and 250 minutes (two and half hours) to submit the attempt for the final exam. Each exam closes automatically at the end of the testing period. So, budget your time accordingly. The exams break down as follows: Exam Exam 1 Exam 2 Exam 3 Final Exam Material Covered Modules 1-4+A Modules 1-7+A Modules 1-11+A Modules 1-15+A Submit By Monday, 5/26 at 11:00 PM Monday, 6/2 at 11:00 PM Monday, 6/9 at 11:00 PM Friday, 6/20 at 11:00 PM Total Points Possible 80 (40 questions, 2 points/correct answer) 100 (40 questions, 2.5 points/correct answer) 120 (40 questions, 3 points/correct answer) 200 (50 questions, 4 points/correct answer) 500 (Total points possible) Please note that with these exams, as with the other assignments, can be completed early but never late! Plan accordingly. 4 Introduction to Economics Common Sense Economics for Life! ECO 2000-01 Summer B Recommendations for Online Studying: Devise a study plan for success! Each module starts and ends with you providing an answer to a question related to the key topics. Every module focuses on a group of key concepts and topics. Short readings along with some combination of listening to podcasts and/or watching video clips help you understand what they are and how to use them to explain human behavior in a variety of settings. PowerPoint slides are provided to help pull out important concepts, topics and applications from the combination of readings, podcasts and videos. Use the corresponding PPTs to stylize personal learning notes. Each module consists of an assignment, quiz and discussion board work. Some modules include an exam. The best way to do well in this class is to find a quiet place where you can focus on learning for 1-2 hours at a time and follow these steps: Every module will start with a series of discussion board questions that will require your fresh thoughts on how to answer a question. The first thing you should always do is check the discussion board and reply to the listed thread for that module with your pre-thoughts (please do not start your own thread). Just answer these questions to the best of your ability given your current knowledge. In this and other professional environments, use only complete, grammatically-correct sentences. Never use the text-messaging format of writing and follow proper capitalization guidelines. As long as you answer each question thoughtfully and respectfully, your answers will not be counted against you. After offering your pre-thoughts, glance over the key words and complete the short textbook reading from Common Sense Economics (2010) for the module. Also, go through the PowerPoint slides, either while reading from the textbook or directly after, and make sure you understand the key concepts of the module. If it helps, print off the slides in the note-taking format and make notes while you read your textbook. Using the same PPT notes, complete the additional readings within the module. Many of the readings are also available on audio so that you can download them to your MP3 player and listen to them if you prefer. Watch the short, and often entertaining, video clips which highlight some of the important economic concepts from this module. You may want to incorporate the lessons from these clips into your notes. Once you have gone through this material you are ready to complete any assignments that are required for this module. All modules have at least one required assignment. Each assignment is due by 11 pm (ET) on Saturday. It can be completed early but never late. So give yourself ample time to go through the material and complete the assignment. Review the material for that module and make sure that you are comfortable with the information taught in the readings and videos. Once ready, take the short 10 question multiple-choice quiz. It tests what you learned from the specific module. You have three attempts to complete each quiz, and your highest score is recorded. Many quiz questions are drawn into the exams. So complete the quiz multiple times in order to answer as many questions as you can. Some will likely be on an upcoming exam. Your last attempt for each quiz must be completed by exactly 11:00 PM on Sunday. Again, make sure you complete it and submit it in a timely fashion. Return to the discussion board. Find your assigned pre-learning question and answer. Now improve on the prethought discussion board post. Again, please do not start a new thread. Please make sure you incorporate what you learned from the readings and video clips into your post thought analysis by citing specific examples where possible. Page references to Common Sense Economics (2010) and one non-CSE learning resource are required after Exam One. You may also want to take the time to read (and in some cases respectfully respond to) posts by other students in the class so that you can also learn from one another. Remember that your discussion board posts must be completed by 11:30 PM on Sunday of that week. 5 Introduction to Economics Common Sense Economics for Life! ECO 2000-01 Summer B Modules 4, 7, 11, 15 contain a cumulative exam. Please make sure you review all of the material from the course so far and, when you feel ready, complete the exam. Exams 1-3 are to be completed by Monday at 11:00 PM. Exam 4 is to be completed by Friday, June 20th, at 11:00 PM. In at least one aspect, an on online class is different than a traditional face-to-face class. There are no face-toface meetings with your instructor at a designated location and time. This provides you with an opportunity to work at your own pace and be free from the structure of a traditional class that always meets according to a schedule. This means that you can complete all modular work in a single sitting or spread it out throughout the week according to your work schedules, competing course demands, family responsibilities and preferences. However, this means that you are also more responsible for scheduling time to complete the required work and motivating yourself to do so every week. That being said, please understand that just because this class is online, you are not alone in learning these power-packed economic concepts. As the instructor, it is my job to help you get the most you can out of this class so if you ever feel lost or frustrated, then please feel free to email me using the message function in the Mail tab located on blackboard as I will always check these messages first. Additionally, hopefully you and your fellow students can become partners in learning and help each other understand these lessons through the use of the interactive discussion board. I believe that if you follow the steps above then you will find success in this course and find the warm embrace of economic understanding! 6 Introduction to Economics Common Sense Economics for Life! ECO 2000-01 Summer B *Important Dates* Monday, May 26th – Exam 1 (cumulative): Part I of the CSE, plus Supplement A Monday, June 2nd – Exam 2 (cumulative): Part II and Part I of the CSE, plus Supplement A Monday, June 9th – Exam 3 (cumulative): Part III and Parts I and II of the CSE, plus Supplement A Friday, June 20th – Final Exam (cumulative): Part IV and Parts I, II, and III of the CSE, plus Supplement A ADA COMPLIANCE The University formally affirms its commitment to prohibit discrimination against individuals with disabilities in any aspect of University life including, but not limited to, physical plant access, employment, services, and the academic process. To this end, the University declares its intention to adhere to the Americans with Disabilities Act (ADA) and all other applicable federal and state disability law. ACADEMIC HONOR SYSTEM The Academic Honor System of the Florida State University is based on the premise that each student has the responsibility to: 1) uphold the highest standards of academic integrity in the student’s own work; 2) refuse to tolerate violations of academic integrity in the academic community, and 3) foster a high sense of integrity and social responsibility on the part of the University community. Violations of the Academic Honor System will not be tolerated in this class. Examples of cheating include, but are not limited to, unauthorized conversation or interaction with another student (by any means) and/or copying another students assignment, quiz, and or exam answers, plagiarism, and turning in activities, quizzes, or exams for someone else. Any instances of cheating will be prosecuted to the full extent of university policy. 7 Introduction to Economics Common Sense Economics for Life! ECO 2000-01 Summer B Course Outline: WEEK ONE: May 12-18 Module 0 By 11 pm on Monday, May 12 Introductions and getting familiar with online learning Welcome! Introduce yourself to instructor and your classmates in the Discussion Board: Introductions Read the syllabus, look over this course schedule, and devise a plan to succeed. By 11 pm on Monday, May 12 Post an introduction to the Discussion Board for Module 0 Complete Bonus Activities: CSE Survey Towards Economics (Start Line) and CSE Test of Economic Reasoning (Start Line) Module 1 By 11 pm on Monday, May 12 May 12-18 Offer a pre-learning response to one of the three questions in the Discussion Board: Module 1 Read CSE, watch videos, and read other materials There is no Assignment for Module 1 Complete Quizzes 1 Provide a post-learning answer to the question you answered originally in the Discussion Board for Module 1 By 11 pm on Saturday, May 17 By 11 pm on Sunday, May 18 By 11:30 pm on Sunday, May 18 Module 2 By 11 pm on Monday, May 12 By 11 pm on Saturday, May 17 By 11 pm on Sunday, May 18 By 11:30 pm on Sunday, May 18 Supplement A Dates: May 12-18 By 11 pm on Monday, May 12 By 11 pm on Saturday, May 17 By 11 pm on Sunday, May 18 By 11:30 pm on Sunday, May 18 At Midnight on Sunday, May 18 May 12-18 Offer a pre-learning response to one of the three questions in the Discussion Board: Module 2 Complete Assignment 2 Complete Quizzes 2 Provide a post-learning answer to the question you answered originally in the Discussion Board for Module 2 Offer a pre-learning response to one of the three questions in the Discussion Board: Supplement A Read Supplement A Complete Assignments for Supplement A Complete Quizzes on Supplement A Provide a post-learning answer to the question you answered originally in the Discussion Board for Supplement A Start getting ready for the next week's modules and begin to provide a prelearning answer to a question in the Discussion Boards for Modules 3, 4, and 5 8 Introduction to Economics Common Sense Economics for Life! ECO 2000-01 Summer B WEEK 2 Module 3 By 11 pm on Monday, May 19 By 11 pm on Saturday, May 24 By 11 pm on Sunday, May 25 By 11:30 pm on Sunday, May 25 May 19-25 Offer a pre-learning response to one of the three questions in the Discussion Board: Module 3 Read CSE, watch videos, and read other materials Complete Assignments 3 Complete Quizzes 3 Provide a post-learning answer to the question you answered originally in the Discussion Board for Module 3 ** EXAM 1 DUE BY 11 PM (ET) ON MONDAY, May 26 Module 4 By 11 pm on Monday, May 19 By 11 pm on Saturday, May 24 By 11 pm on Sunday, May 25 By 11:30 pm on Sunday, May 25 By 11 PM on Monday, May 26 Module 5 By 11 pm on Monday, May 19 By 11 pm on Saturday, May 24 By 11 pm on Sunday, May 25 By 11:30 pm on Sunday, May 25 At Midnight on Sunday, May 25 May 19-25 Offer a pre-learning response to one of the three questions in the Discussion Board: Module 4 Read CSE, watch videos, and read other materials Complete Assignment 4 Complete Quiz 4 Provide a post-learning answer to the question you answered originally in the Discussion Board for Module 4 Complete Exam 1 BY 11 PM (ET) ON MONDAY, May 26 May 19-25 Offer a pre-learning response to one of the three questions in the Discussion Board: Module 5 Complete Assignment 5 Complete Quiz 5 Provide a post-learning answer to the question you answered originally in the Discussion Board for Module 5 Start getting ready for the next week's modules and begin to provide a prelearning answer to a question in the Discussion Boards for Modules 6, 7, and 8 ** EXAM 1 DUE BY 11 PM (ET) ON MONDAY, May 26 9 Introduction to Economics Common Sense Economics for Life! ECO 2000-01 Summer B WEEK 3 Module 6 By 11 pm on Monday, May 26 By 11 pm on Saturday, May 31 By 11 pm on Sunday, June 1 By 11:30 pm on Sunday, June 1 May 26 - June 1 Offer a pre-learning response to one of the three questions in the Discussion Board: Module 6 Read CSE, watch videos, and read other materials Complete Assignments 6 Complete Quiz 6 Provide a post-learning answer to the question you answered originally in the Discussion Board for Module 6 ** EXAM 2 DUE BY 11 PM (ET) ON MONDAY, JUNE 2 Module 7 By 11 pm on Monday, May 26 By 11 pm on Saturday, May 31 By 11 pm on Sunday, June 1 By 11:30 pm on Sunday, June 1 May 26 - June 1 Offer a pre-learning response to one of the three questions in the Discussion Board: Module 7 Read CSE, watch videos, and read other materials Complete Assignments 7 Complete Quiz 7 Provide a post-learning answer to the question you answered originally in the Discussion Board for Module 7 By 11 PM on Monday, JUNE 2 Complete Exam 2 BY 11 PM (ET) ON MONDAY, June 2 Module 8 By 11 pm on Monday, May 26 May 26 - June 1 Offer a pre-learning response to one of the three questions in the Discussion Board: Module 8 Read CSE, watch videos, and read other materials Complete Assignments 8 Complete Quiz 8 Provide a post-learning answer to the question you answered originally in the Discussion Board for Module 8 Start getting ready for the next week's modules and begin to provide a prelearning answer to a question in the Discussion Boards for Modules 9, 10, and 11 By 11 pm on Saturday, May 31 By 11 pm on Sunday, June 1 By 11:30 pm on Sunday, June 1 At Midnight on Sunday, June 1 10 Introduction to Economics Common Sense Economics for Life! ECO 2000-01 Summer B WEEK 4 Module 9 By 11 pm on Monday, June 2 By 11 pm on Saturday, June 7 By 11 pm on Sunday, June 8 By 11:30 pm on Sunday, June 8 Module 10 By 11 pm on Monday, June 2 By 11 pm on Saturday, June 7 By 11 pm on Sunday, June 8 By 11:30 pm on Sunday, June 8 June 2-8 Offer a pre-learning response to one of the three questions in the Discussion Board: Module 9 Read CSE, watch videos, and read other materials Complete Assignment 9 Complete Quiz 9 Provide a post-learning answer to the question you answered originally in the Discussion Board for Module 9 June 2-8 Offer a pre-learning response to one of the three questions in the Discussion Board: Module 10 Read CSE, watch videos, and read other materials Complete Assignment 10 Complete Quiz 10 Provide a post-learning answer to the question you answered originally in the Discussion Board for Module 10 ** EXAM 3 DUE BY 11 PM (ET) ON MONDAY, JUNE 9 Module 11 By 11 pm on Monday, June 2 By 11 pm on Saturday, June 7 By 11 pm on Sunday, June 8 By 11:30 pm on Sunday, June 8 By 11 PM on Monday, June 9 At Midnight on Sunday, June 8 June 2-8 Offer a pre-learning response to one of the three questions in the Discussion Board: Module 11 Read CSE, watch videos, and read other materials Complete Assignment 11 Complete Quiz 11 Provide a post-learning answer to the question you answered originally in the Discussion Board for Module 11 Complete Exam 3 DUE BY 11 PM (ET) ON MONDAY, JUNE 9 Start getting ready for the next week's modules and begin to provide a prelearning answer to a question in the Discussion Boards for Modules 12 and 13 11 Introduction to Economics Common Sense Economics for Life! ECO 2000-01 Summer B WEEK 5 Module 12 By 11 pm on Monday, June 9 By 11 pm on Saturday, June 14 By 11 pm on Sunday, June 15 By 11:30 pm on Sunday, June 15 Module 13 By 11 pm on Monday, June 9 By 11 pm on Saturday, June 14 By 11 pm on Sunday, June 15 By 11:30 pm on Sunday, June 15 At Midnight on Sunday, June 15 June 9-15 Offer a pre-learning response to one of the three questions in the Discussion Board: Module 12 Read CSE, watch videos, and read other materials Complete Assignments 12.1 “Budget Exercise Step 1” and 12.2 “Budget Exercise Step 2” Complete Quiz 12 Provide a post-learning answer to the question you answered originally in the Discussion Board for Module 12 June 9-15 Offer a pre-learning response to one of the three questions in the Discussion Board: Module 13 Read CSE, watch videos, and read other materials Complete Assignments 13.1 "Loan Amortization" and 13.2 "Your Credit History Says What?" Complete Quiz 13 Provide a post-learning answer to the question you answered originally in the Discussion Board for Module 13 Start getting ready for the next week's modules and to provide a prelearning answer to a question in the Discussion Boards for Modules 14 and 15 12 Introduction to Economics Common Sense Economics for Life! ECO 2000-01 Summer B WEEK 6 Module 14 By 11 pm on Monday, June 16 By 11 PM on Friday June 20 By 11 PM on Friday, June 20 By 11:30 pm on Friday, June 20 June 16-20 Offer a pre-learning response to one of the three questions in the Discussion Board: Module 14 Read CSE, watch videos, and read other materials Complete Assignments 14.1 "Compound Interest" and 14.2 "The Cost of Raising Children" Complete Quiz 14 Provide a post-learning answer to the question you answered originally in the Discussion Board for Module 14 ** EXAM 4 OR FINAL EXAM DUE BY 11 PM (ET) ON FRIDAY, JUNE 20TH PER FSU POLICY Module 15 June 16-20 By 11 pm on Monday, June 16 Offer a pre-learning response to one of the three questions in the Discussion Board: Module 15 Read CSE, watch videos, and read other materials Complete Assignment 15 " Supply, Demand and Dynamic Change in the Job Market" Complete Quiz 15 Provide a post-learning answer to the question you answered originally in the Discussion Board for Module 15 Complete Exam 4 or the Comprehensive Final Examination BY 11 PM ( ET) ON FRIDAY, JUNE 20 Complete Bonus Activities: CSE Survey Towards Economics (Finish Line) and CSE Test of Economic Reasoning (Finish Line) By 11 PM on Friday June 20 By 11 PM on Friday, June 20 By 11:30 pm on Friday, June 20 By 11 PM on Friday, June 20 By Midnight on Friday, June 20 ***Important Course Evaluation Evaluate the course and instructor 13