Sumell, ECON 2630 Syllabus
Summer 2014
Instructor: Albert J. Sumell
Office: Phelps 017 (in basement) e-mail: ajsumell@ysu.edu website: http://www.as.ysu.edu/~ajsumell
Note : If you need to contact me for any reason please do so by e-mail.
Prerequisites: ECON 2610 – Principles of Microeconomics
Office Hours: 9:30 - 10:30 am Monday, Wednesday and Friday, or anytime by appointment.
Course Description and Objectives:
Economics is the study of choice under conditions of scarcity. The study of Economics should help you to better understand your world – whether it’s major world news that affects everyone or minor choices that you make everyday that only affect you.
While microeconomics focused on the choices of individuals and firms, in this course we will study choices that affect the economy as a whole. Many of the same concepts studied in microeconomics are relevant (supply and demand, opportunity cost, etc.) but these concepts will be placed in the context of the overall economy rather than individual markets. We will study basic macroeconomic concepts such as inflation and unemployment, and apply these concepts to the U.S. economy and other nations.
Furthermore, we will discuss the ability of government policymakers to affect growth, unemployment and inflation by analyzing various fiscal and monetary policy measures.
If you come to class, pay attention, and study outside of class, by the end of the course you will be:
-able to explain and apply fundamental macroeconomic concepts such as gross domestic product, economic growth, recessions, etc.
-understand how the choices of fiscal and monetary policymakers affect the economy and social welfare.
-better informed on and better equipped to analyze a wide range of policy issues.
-prepared for (and excited about) more advanced/specialized classes in economics.
Required Materials:
McConnell, Brue, and Flynn. Macroeconomics.
19 th Edition. McGraw-Hill.
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Basis for grading:
Quizzes/Assignments: 15%
Attendance/Participation: 5%
1st Midterm: 25%
2nd Midterm: 25%
Final Exam: 30%
There will be two midterm exams. The exams will be in-class, and I hope to spend a portion of the class before the exam reviewing concepts that you will be asked on the exam. Exam makeups will be given before the final exam only for valid reasons (sleeping, forgetting and/or “not knowing” are not valid reasons). If you miss an exam, you must contact me within 24 hours of the exam either via e-mail or phone to have any possibility of being given a make-up exam.
Study guides with practice questions will also be posted on the class website prior to each midterm. The final exam will be comprehensive, but will focus on the material after the second midterm.
There will be approximately 8 quizzes which will generally be given at the beginning of each class on non-exam classes and will last 10-15 minutes. If you miss a quiz you will receive a zero, regardless of the reason . There are no make-up quizzes, no exceptions.
Your lowest quiz grade will be dropped at the end of semester, such that missing one quiz will not directly impact your grade. There will be 3 assignments, each which will be posted on the class website at least 2 days before it is due. The primary purpose of the quizzes and assignments is to ensure you are keeping up with the material covered and are prepared for the exams.
Attendance is not mandatory, in that I will not directly subtract points from your grade if you miss class. However, consistent attendance is the single most important requirement to doing well in the class.
Rules: NO CHEATING on exams or quizzes. I take this very seriously. If you are caught cheating in anyway (such copying from another student’s exam, using a cheat sheet, texting etc.) you will be given an F for the course and a report will be filed with Student Affairs. Refer to
YSU’s
Undergraduate Bulletin for University procedures and policies regarding academic misconduct.
You are expected to conduct yourself in class in such a way that will not detract from other students’ ability to pay attention in anyway. This includes no loud talking or cell phone usage
(including texting, Facebooking, Tweeting, Vine-ing, Google Plus-ing, Pinteresting, Linked-Ining, Yelping, LOL-OMG-ing, etc.).
You are responsible for all work missed during class regardless of the reason. If you miss a class,
I am happy to respond to emails with specific questions about the class or meet with you to discuss what you missed. You can copy other students’ notes, but you cannot copy my personal lecture notes. You should also check the class website to see if a new assignment or study guide has been posted. If you must leave class early please let me know before class begins.
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Final grades for the course will be based on the following standard scale:
Grading Scale
100-90%
89-80%
A
B
79-70% C
69-60% D
Below 60% F
Final Grades may be curved as deemed appropriate at the end of the semester.
Statement Regarding Disabilities:
Anyone requiring special adaptations or accommodations should inform the instructor as soon as possible. In accordance with University procedures, if you have a documented disability and require accommodations to obtain equal access in this course, please contact the Office of
Disability Services (phone: 330-941-1372) in the Center for Student Progress at the beginning of the semester or when given an assignment for which an accommodation is required. Students with disabilities must verify their eligibility through the Office of Disability Services. CSP
Disability Services is located at 275 Fifth Ave.
The Center for Student Progress/Supplemental Instruction:
The Center for Student Progress is a resource on Campus established to help students successfully complete their university experience. Please phone (330) 941-3538 or visit the Center for assistance in tutoring or for individualized assistance with social and academic success. The main Center is located in Kilcawley West below the bookstore.
Preliminary Schedule (Subject to Changes):
6/30: Chapters 1-3: Intro / Review of Microeconomics Fundamentals
7/02: Chapter 6 - 7: Intro to Macroeconomics/Gross Domestic Product
7/07: Chapter 8: Economic Growth
7/09: Chapter 9: Business Cycles, Unemployment, and Inflation
7/11: Chapter 10: Basic Macroeconomic Relationships
7/14: Midterm 1
7/16: Chapter 11: Aggregate Expenditures (Keynesian) Model
7/18: Chapter 12: Aggregate Demand and Aggregate Supply
7/21: Chapter 12/13: AD/AS and Fiscal Policy
7/23: Chapter 13: Deficits, the National Debt, and Projections for the Future
7/25: Midterm 2
7/28: Chapter 14: Money and Banking
7/30: Chapter 15: Money Creation
8/01: Chapter 16: Monetary Policy
8/03: Chapter 17: Financial Economics
8/06: Chapter 20: International Economics
8/08: Final Exam
Note: 7/24 is the last day to withdraw and receive a “W”
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