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m o d e l
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MBA 510
Macroeconomics
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Benedictine Hallmarks 2011-2012
STABILITY  STEWARDSHIP
IDEA
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course syllabus
Addresses the educational
needs of adult students by
developing and providing
engaging, relevant and
accelerated programs.
blended model
MBA 510
Enhances scholarship,
leadership skills, social
responsibility, and promotes
life-long learning.
Provides high-quality, easily
accessible educational
opportunities for adult
learners.
Enables adults to earn
specific undergraduate and
graduate degrees while
maintaining their personal and
professional commitments.
Macroeconomics
instructor version
Develops new degree and
non-degree programs that
address the expressed needs of
the professional community.
content links index
about this document
about Moser College
about blended learning
hallmarks of a Benedictine education
student expectations
attendance policy
financial aid
submission of work
library resources
services for students with disabilities
Academic Honesty Policy
APA formatting and style
netiquette
course overview
required textbooks
grading scale
IDEA objectives
IDEA description
learning outcomes
course schedule
Moser College Mission
Statement: Moser College
embodies the values of respect,
excellence, collaboration, and
professionalism. We are
committed to delivering
innovative and dynamic
programs designed for adult
students who are dedicated to
enhancing their professional,
local, and global communities.
Moser College Vision
Statement: To be one of the
premier university colleges in
the nation.
Love of Christ and Neighbor  Prayer  Stability  Conversatio  Obedience
Discipline  Humility  Stewardship  Hospitality  Community
Benedictine
University
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Margaret and Harold Moser Center
1832 Centre Point Circle
Naperville, IL 60563
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Phone: (630)schedule
829-6289&
IDEA
sessions
Fax: (630) 829-1375
moser college mission and vision
2
Content Links
MBA 510 Macroeconomics
About Your Program at Benedictine University – Moser College
About This Document
This is a hypermedia document – it has been built to mimic navigation on the
web. This document can also be viewed as a presentation or it can be printed
like a traditional document. We use this sort of document because it allows for
navigation links (hyperlinks) to text, graphics, audio/video, and the web. This
type of document also allows you to navigate in a nontraditional, nonlinear way
– by following the page links you are not bound to read or flip through the
document in any sort of order. This is yet another example of Moser College’s
commitment to advancements in technology and blended learning.
About Moser College
The Moser College of Adult & Professional Studies delivers its curricular
programs in a specifically designed structure deliberately oriented for working,
adult learners. The Moser College is committed to providing a learning
environment which extends beyond the classroom and is designed specifically
to meet the needs of its students and their employers by bringing a quality
educational experience without requiring the student to relocate or travel
extensively beyond their home area. Benedictine University's Moser College of
Adult & Professional Studies is fully accredited by the Higher Learning
Commission of the North Central Association of Colleges and Schools*.
* web path
Benedictine Univ
Academic Programs
Moser College
About Blended Learning
Blended learning is the integration of different learning environments: mainly the
online format with the face-to-face format, but may also include mobile learning.
Blended learning, also referred to as hybrid learning, relies on both the advantages
of digital/technology innovation and the methods of face-to-face instruction. At
Moser College, we use blended learning by combining asynchronous online
classroom sessions with a face-to-face classroom environment. We alternate
between the online session and the face-to-face session in 5-week courses, with
the A session being face-to-face and the B session being online.
hallmarks of a Benedictine Education:
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3
About
MBA 510 Macroeconomics
The Ten Hallmarks of a Benedictine Education
A Benedictine Education
Based on the Rules of Saint Benedict, a Benedictine
Education is based on the Benedictine Wisdom
Tradition that sets as its goals the transformation of the
Human mind AND Heart and has at its foundation “The
Ten Hallmarks of a Benedictine Education”.
The Ten Hallmarks
Each academic year Moser College will be celebrating
two of the Hallmarks. This academic year 2011-2012,
the Hallmarks Stability and Stewardship have been
chosen. The ten hallmarks are:
1. Love of Christ and Neighbor
2. Prayer: a Life marked by liturgy, lection and
Mindfulness
3. Stability: commitment to the daily life of this place,
its heritage and tradition
4. Conversatio: the way of formation and
transformation
5. Obedience: a commitment to listening and
consequent action
6. Discipline: a way toward learning and freedom
7. Humility: knowledge of self in relation to God,
others and creation
8. Stewardship: responsible use of creation, culture
and the arts
9. Hospitality: openness to others
10. Community: call to serve the common good
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Portrait (1926) by Herman Nieg
(1849–1928); Heiligenkreuz Abbey, Austria
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4
Hallmarks
MBA 510 Macroeconomics
Student Expectations
Expectations of Students
In order to get the maximum use of the time available, it is expected that you
will:
•
Read the material to be covered in the class and complete required
assignments prior to attending the class/session;
•
Arrive/login to class/session prepared to participate actively;
•
Be prepared to actively participate in the collaborative activities of each
class/session; and
•
Always feel free to seek additional help from the instructor when the need
arises.
Attendance Policy
Students may not miss more than 25% of the live classroom sessions. Doing so
will result in an F for the course.
financial aid information
Submission of Work
All assignments are to be submitted into Desire 2 Learn (D2L) unless otherwise noted by instructor.
Assignments must be submitted by due date. Any assigned work submitted late for any unexcused
reason will receive a lowered grade. Please refer to your instructor’s late work policy located in D2L.
In the event that you miss an examination for due cause, arrangements must be made with the
instructor for a make-up examination. Important criteria concerning the submission of work:
•
Make-up examinations may differ from the original class examination.
•
Per University policy, assignments cannot be accepted by an instructor after the last day of the course.
•
Only discussions threads posted by 11:59 pm CST on the due date will count for grading purposes.
information concerning netiquette:
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Love of Christ and Neighbor  Prayer  Stability  Conversatio  Obedience  Discipline  Humility  Stewardship  Hospitality  Community
5
Expectations
MBA 510 Macroeconomics
Financial Aid Information
Applying for Financial Aid
A college education is one of the largest financial investments a family will make. We believe that an education
from Benedictine University will provide valuable returns throughout a student's lifetime. The Office of Financial
Aid is dedicated to helping students and their families make a Benedictine University education affordable. We
view the process of financing an education as a partnership. Although the student and his/her family have primary
responsibility for meeting college costs, Benedictine University, as well as the federal and state governments have
a variety of financial aid programs available to students who need financial assistance.
Types of Financial Aid
Benedictine University's Office of Financial Aid administers a variety of federal, state
and institutional programs of student financial assistance. All financial aid recipients
must maintain satisfactory academic progress in accordance with the published,
"Satisfactory Academic Progress Policy for Financial Aid Recipients.“
•
After completing the financial aid application process, the student will receive a
financial aid award notification letter. The award letter will include the
program(s) that the student is eligible to receive and the award amount(s).
•
Grants/Scholarships - Grants and scholarships are considered to be gift
assistance. This means the awards do not have to be repaid.
•
Loans - Loans are considered to be a form of self-help assistance. Loan programs
provide funds for educational purposes and are paid back with interest.
•
Employment - Part-time jobs on campus are available to students through the
University and Federal Work-Study program. Students working on campus
receive a bi-weekly paycheck.
•
Applying for Financial Aid – All students applying for financial aid are asked to
complete the Free Application for Federal Student Aid (FAFSA).
FAFSA – Free Application for Federal Student Aid
The FAFSA is required for all federal, state (Illinois residents) and Benedictine University need-based assistance.
It should be completed as soon as possible after January 1st. Applying online with FAFSA on the Web at
www.fafsa.gov is faster and easier than using a paper FAFSA. Have your completed U.S. Federal Income Tax
returns readily available when completing the FAFSA. Include Benedictine University's school code:
001767 so the results of your FAFSA application will automatically be sent to our financial aid office. Sign you
FAFSA with a Federal Student Aid PIN. Apply for a PIN at www.pin.ed.gov. If you are providing parent
information, one parent must also sign you FAFSA.
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Love of Christ and Neighbor  Prayer  Stability  Conversatio  Obedience  Discipline  Humility  Stewardship  Hospitality  Community
6
Financial Aid
MBA 510 Macroeconomics
About Netiquette
What is Netiquette?
"Netiquette" stands for "Internet Etiquette", and refers to the set of practices which help to make the online
experiences pleasant for all involved. As you might expect, netiquette, like other forms of etiquette, is about
courtesy, manners, codes of behavior, protocols and respect. Netiquette primarily focuses on how we interact with
one another online, by being aware of: our use of language, others’ cultural background, conventional norms, and
other behaviors. Below you will find guidelines concerning the basics of online interaction. If it isn’t something you
would say or do in the face-to-face classroom, it is probably inappropriate in the online class as well.
Netiquette Basics
1. Follow the Golden Rule (“One should treat others as one would like others to treat oneself”)
2. Be ethical, fair, tolerant and mindful of others – avoid stereotyping, judgment and prejudice
3. Know the boundaries of particular cyberspaces – what is acceptable in a text or chatroom with friends may
not be appropriate in a classroom or in an online conversation with an instructor
4. Respect the time of others by: 1) using descriptive subject lines, 2) resizing images for the web, 3) providing
links instead of copying and pasting content, 5) using white space by inserting blank lines between paragraphs
and headers and 6) limiting your use of attachments
5. Copy the minimum number of people – it is tempting to send “email” or “message blasts” because it is easier
for the poster, but it is not easier for the reader
Inappropriate Online Usage
1. Avoid “flaming” – flaming is sending offensive, insulting or criticizing messages. This happens more often
online then in face-to-face interaction, because there is an illusion of anonymity.
2. Flaming is neither productive nor appropriate for the learning environment
3. Always avoid flaming when it comes to content and opinions, but also avoid it when it comes to grammar,
punctuation and spelling corrections
4. Avoid using CAPS if possible and never type messages in ALL CAPS – this is considered yelling and is often
seen as a form of aggression
5. Use emoticons ( :) , :( , :-) ) sparingly and avoid the use of JK, BRB, LOL and other text language
Confidentiality and Privacy
1.
2.
3.
4.
Email, messaging and posting are forms of written record and are just as permanent as a letter or document
Do not publicize your own or others’ personal information (such as email, phone numbers, last names etc.)
Respect copyright and cite any and all sources
Do not expect that your communications are private, instead assume all communications are public
For more information please review Netiquette by Virginia Shea
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Love of Christ and Neighbor  Prayer  Stability  Conversatio  Obedience  Discipline  Humility  Stewardship  Hospitality  Community
7
Netiquette
MBA 510 Macroeconomics
Resources for Success
Benedictine’s Library Resources
Benedictine University Libraries strive to provide the resources for all of your academic and research
needs. Providing access to over 120 databases, 200,000 books and eBooks, and helpful librarians 7
days a week, we are here to assist you in person and online.
The primary mission of the Benedictine University Library is to provide library resources and services
that support the Benedictine University community and meet its academic and research needs. To
support our mission, the Library has made provisions for all students to gain access to important
academic resources through the Benedictine Library Website. As you begin your academic journey
please take note of these key concepts that will affect that access:
•
Entry into academic databases and most Library resources must be made through the Benedictine
Library Website at www.ben.edu/library
•
Within one week of your official enrollment your patron information will be automatically entered
into the library system, where once entered, you will be able to check out books and access
databases
•
When off-campus you will be prompted by authentication software (a proxy server) to provide
your Library ID number and last name to access article databases and request books. This software
proxy server confirms that you are a current Benedictine University student and thus allowed
access
•
Your Library ID number is a combination of the Benedictine Library prefix 2281100 and your
seven-digit student ID number (also called your “b” number). Thus 2281100XXXXXXX is
the Library ID number with X’s being the seven digit student number. This number is prominently
located just below the barcode on your Benedictine ID card
•
For further information on any aspect of Library resources and access please call or write the
Benedictine Library Reference Desk at 630-829-6057 or libref@ben.edu. Please take note of
Library hours and staff directory located on the Library Website under About the Library and feel
free to contact us about any concern or need you might have
additional resources for student success:
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Library
MBA 510 Macroeconomics
Resources for Success
University Academic Honesty Policy
The search for truth and the dissemination of knowledge are the central missions of a university.
Benedictine University 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.
To access the complete Academic Honesty Policy, which includes student responsibility, responsibility
and authority of faculty, violations, reporting and communicating, responsibilities of the provost,
appeals, composition of the academic appeals board, procedures of the academic appeals board, and
records, please select the following link: www.ben.edu/ahp
APA Formatting and Style
All course assignments must use APA citation and formatting. This is a
mandatory requirement for all assignments, including discussions, if a
publication or other work is being referenced. For more information on
APA, please see the APA Style section at the website of the American
Psychological Association, linked here: www.apa.org/
APA resources for students: www.apa.org/about/students.aspx
Services for Students with Disabilities
Section 504 of the Rehabilitation Act of 1973 and the Americans with Disabilities Act (ADA) of 1990
prohibit discrimination against individuals with disabilities by standing provision of reasonable
accommodations to make programs and activities accessible to qualified individuals with disabilities.
If you have a documented learning, psychological, or physical disability, you may be eligible for
reasonable academic accommodations or services. To request accommodations or services, please
contact the Student Success Center, Krasa Center - 012A, 630-829-6340. All students are expected to
fulfill essential course requirements. The University will not waive any essential skill or requirement
of a course or degree program.
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Other Resources
MBA 510 Macroeconomics
Individual Development and Educational Assessment
IDEA Objectives
•
Acquiring skills in working with others as a member of a team.
•
Developing creative capacities (writing, inventing, designing,
performing in art, music, drama, etc.)
•
Gaining a broader understanding and appreciation of intellectual/
cultural activity (music, science, literature, etc.)
•
Developing skill in expressing oneself orally or in writing.
•
Learning how to find and use resources for answering questions or
solving problems.
•
Developing a clearer understanding of, and commitment to, personal
values.
•
Learning to analyze and critically evaluate ideas, arguments, and
points of view.
•
Acquiring an interest in learning more by asking questions and
seeking answers.
IDEA Description
The IDEA student survey focuses on the instructor’s learning objectives for the course and on the
progress each student made toward achieving those objectives. By answering thoughtfully and
honestly, your ratings and comments will be much more helpful – to the instructor, the department
chair, and the dean of the college. As students, you should also know that student ratings and
comments have been used to help evaluate courses and to improve the educational experience at
Benedictine University. The appropriate standard of conduct with respect to student surveys is
thoughtful comments and constructive criticism – respectfully communicated.
A Focus on Learning
“The IDEA Student Ratings system looks at instruction in terms of its endgame. Rather than
emphasizing teaching style or personality, the IDEA system focuses on student learning and the
methods used to facilitate it.” – from the IDEA website: www.theideacenter.org/node/5
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IDEA
MBA 510 Macroeconomics
Faculty Evening Course Overview
Course Description
Fundamental concepts of macroeconomics, including supply and demand, measurements of an
determination of economic performance, such as GDP, inflation and unemployment, are studied.
Other topics include the causes of instability in the economy and corrective measures such as
monetary and fiscal policy, money and banking, and the Federal Reserve System.
Course Materials
Required Textbook and Materials
Schiller, Bradley R., Hill, Cynthia D., & Wall, Sherri L. (2013).
The Macro Economy Today (13th ed.). New York, NY: McGraw-Hill/Irwin. ISBN 9780077416478
Students are required to use McGraw-Hill’s Connect® Plus Economics to complete quizzes and
homework assignments.
Technological Computer Requirements
Students in the Blended program will need: High-speed Internet access; a sound card and speakers;
Windows XP (minimum)/Windows 7 (recommended) or Mac OS X 10.5 or higher; and Firefox 3.6 or
higher. It is also highly recommended that students have access to a microphone or webcam for
optional audio/videoconferencing.
Discussion Forum Guidelines
The Course Grading Scale
A
=
4.00
90 - 100%
EXCELLENT
B
=
3.00
80 – 89%
GOOD
C
=
2.00
70 – 79%
SATISFACTORY
D
=
1.00
60 – 69%
PASS
F
=
0.00
BELOW 60%
FAIL
I
=
INC
INCOMPLETE
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To receive a minimum passing grade, students must
make a post to each discussion question for that
week by day 4 of each week and respond to at least
two other postings by the end of the week. Individual
Posts are worth up to 5 points and the total
Response Posts are worth up to 5 points total. Each
discussion will total up to 10 points.
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Love of Christ and Neighbor  Prayer  Stability  Conversatio  Obedience  Discipline  Humility  Stewardship  Hospitality  Community
11
Course Overview
MBA 510 Macroeconomics
Faculty Evening Course Outcomes Based in Bloom’s Taxonomy
Learning Outcomes
Assignments
Points
•
Analyze the important economic issues and problems facing the
nation today.
Discussion questions - 6 questions @ 10
points each.
•
Critically analyze the various economic theories that explain how Quizzes – 6 quizzes @ 20 points each.
the macro-economy works.
Individual chapter problems – 6
assignments @ 40 points each.
120 pts
240 pts
•
Utilize analytical tools and policies needed to confront the vital
national economic issues and problems.
Team case study – 6 parts @ 20 points
each
120 pts
•
Think critically and become more adept at using logical
reasoning.
In-class group activities – 6 assignments
@ 10 points each.
Total Points for course
60 pts
60 pts
600 pts
about Bloom’s Taxonomy
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12
Learning Outcomes
MBA 510 Macroeconomics
Faculty Evening Course Schedule
Session
Loc.
Class Title
Assignments
01 A
F2F
Supply and Demand and
the Role of Government
•
•
01 B
online
Supply and Demand
and the Role of
Government
•
•
•
•
In-class group activity – supply and demand
analysis.
In-class-team case study part 1. The objective of
the case study is to prepare a comprehensive
analysis of the economic policies of the Democratic
and Republican parties. In this first part of the
case, the team researches each party’s position on
government intervention in markets.
Read Chapters 1, 2, 3 and 4.
Quiz in Connect® Plus Economics.
Individual chapter problems in Connect® Plus
Economics.
Discussion question – free market vs. mixed
economy.
02 A
F2F
Measuring National
Income, Unemployment
and Inflation
•
•
Group activity – GDP in the U.S.
Team case study part 2. The team researches each
party’s position on unemployment and inflation.
02 B
online
Measuring National
Income, Unemployment
and Inflation
•
•
•
Read Chapters 5, 6 and 7.
Quiz in Connect® Plus Economics.
Individual chapter problems in Connect® Plus
Economics.
Discussion question – U.S. unemployment
analysis.
•
03 A
F2F
Fiscal Policy, Deficits
and Debts
•
•
03 B
online
Fiscal Policy, Deficits
and Debts
•
•
•
•
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Group activity – U.S. fiscal policy, budget deficits
and debt.
Team case study part 3. The team researches each
party’s position on fiscal policy.
Read Chapters 11 and 12.
Quiz in Connect® Plus Economics.
Individual chapter problems in Connect® Plus
Economics.
Discussion question – growth in U.S. government.
course
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Love of Christ and Neighbor  Prayer  Stability  Conversatio  Obedience  Discipline  Humility  Stewardship  Hospitality  Community
13
Course Schedule
MBA 510 Macroeconomics
Faculty Evening Course Schedule
Session
Loc.
Class Title
Assignments
04 A
F2F
Money and Banks, Federal Reserve
System and Monetary Policy
•
•
04 B
online
Money and Banks, Federal Reserve
System and Monetary Policy
•
•
•
•
05 A
F2F
Supply-Side Options
•
•
05 B
online
Supply-Side Options
•
•
•
•
06 A
F2F
International Economics
•
•
06 B
online
International Economics
•
•
•
•
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Group activity – evidence of
monetarism.
Team case study part 4. The team
researches each party’s position on
monetary policy.
Read Chapters 13, 14 and 15.
Quiz in Connect® Plus Economics.
Individual chapter problems in
Connect® Plus Economics.
Discussion question – inflation
analysis.
Group activity – financial crisis of
2008.
Team case study part 5. The team
researches each party’s position on
economic growth.
Read Chapters 16 and 17.
Quiz in Connect® Plus Economics.
Individual chapter problems in
Connect® Plus Economics.
Discussion question – tax
incentives.
Group activity – economic theory
versus reality.
Team case study part 6. The teams
debate the overall merits of each
party’s positions.
Read Chapters 19, 20 and 21.
Quiz in Connect® Plus Economics.
Individual chapter problems in
Connect® Plus Economics.
Discussion question – U.S. trade
deficit.
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Course Schedule
MBA 510 Macroeconomics
Faculty Evening Session 1A
Activities, Assignments and Agenda
Course Overview
15 minutes
• Student introductions
• Overview of assignments and instructor expectations
• How to use Desire2Learn to review content, post discussions and check grades
• How to use Connect® Plus Economics to complete quizzes and individual chapter problems
Key Points from Chapters 1, 2, 3 and 4
90 minutes
• Instructor engages the class in a dialogue covering:
− how scarcity creates opportunity costs
− what the production possibilities curve represents
− how market and government approaches to economic problems differ
− the relative size of the U.S. economy
− how the U.S. output mix has changed over time
− how incomes are distributed in the U.S. and elsewhere
− the nature and determinants of market supply and market demand
− how market prices and quantities are established and what causes markets to change
− how government price controls effect market outcomes
− the nature and causes of market failure
− how the public sector has grown
− the effect of taxes on the market for goods and services
• Instructor gives the students a practice quiz covering these topics.
Group Activity – Determinants of Supply and Demand
60 minutes
• Divide class into random groups of three to four students, so that each student gets to work with
different people each week.
• Assign each group one of the following products or services:
1. Portable personal computing devices (laptops, tablets and smartphones)
2. Automobiles
3. Health insurance
4. Cable television
• For their assigned product or service, each group is to:
− Identify and explain all of the determinants of demand and all of the determinants of supply.
− Explain which of the determinants cause a shift in the demand and supply curves.
− Explain which way (right or left) and why the demand and supply curves would shift when
our economy is in an overall recession and when our economy is in an overall expansion.
− Prepare a 5 minute presentation.
− Present their findings and conclusions to the class.
− Submit their presentation to the Dropbox in D2L.
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15
Session 1A
MBA 510 Macroeconomics
Faculty Evening Session 1A
Activities, Assignments and Agenda (continued)
Team Case Study - Part 1
75 minutes
• Students should work in the same learning team for the entire 6 weeks of the course. Each week
they will complete one of the 6 parts of the case study.
• The objective of the case study is to prepare a comprehensive analysis of the economic policies of
the Democratic and Republican parties.
• In this first part of the case, the team researches the stated position of each political party on
government intervention in markets for goods and services. The team should prepare a one page
summary of each party’s position and submit it to the Dropbox in D2L.
• The instructor will review of the teams’ submissions, and then post them to the Content area in D2L
so that the entire class has access to them for future review.
home
about
expectations
resources
course
overview
learning
outcomes
IDEA
schedule &
sessions
Love of Christ and Neighbor  Prayer  Stability  Conversatio  Obedience  Discipline  Humility  Stewardship  Hospitality  Community
16
Session 1A
MBA 510 Macroeconomics
Faculty Evening Session 1B
Activities, Assignments and Agenda
Textbook Reading Assignment:
• Chapter 1 Economics: The Core Issues
• Chapter 2 The U.S. Economy: A Global View
• Chapter 3 Supply and Demand
• Chapter 4 The Role of Government
Individual Assignments:
• Complete the assigned quiz in Connect® Plus Economics. The due date for the quiz should be set
to two days after class – for example if class is held on Monday evening, then the quiz is due by
midnight Wednesday. The instructor should check each student’s score on Thursday and follow up
with any students who appear to have had difficulty with the quiz.
• Complete the assigned chapter problems in Connect® Plus Economics. The due date for the
assignment should be set to six days after class – for example, if class is held on Monday evening,
then the problems are due by midnight Sunday. The instructor should check each student’s score
before class, to identify areas that students had difficulty with and might need further explanation in
class.
Desire2Learn Discussion Topic – Free Market versus Mixed Economy:
Over time, the U.S. and many other economies have moved from free-market economies to mixed
economies. Apparent free-market failures have lead to the controversial need for government
intervention, which often culminates in government directives that determine market and price
outcomes. Discuss the following:
1. Analyze and contrast the attributes of a free-market economy, and those of our current mixed
economy.
2. Name two to three apparent historical market failures; explain the ensuing intervention/resulting
government directives/regulations put into place and analyze do they represent government failure
or not.
3. In your analysis of the controversy/pros and cons of these government directives, generally who
wins, who loses, and how?
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schedule &
sessions
Love of Christ and Neighbor  Prayer  Stability  Conversatio  Obedience  Discipline  Humility  Stewardship  Hospitality  Community
17
Session 1A
MBA 510 Macroeconomics
Faculty Evening Session 2A
Activities, Assignments and Agenda
Review Solutions to Individual Assignments
• Review solutions to quiz on Chapters 1, 2, 3 and 4
• Review solutions to individual chapter problems from Chapters 1, 2, 3 and 4
30 minutes
Key Points from Chapters 5, 6 and 7
• Instructor engages the class in a dialogue covering:
− what GDP measures and doesn’t measure
− the difference between real and nominal GDP
− how unemployment is measured
− the socioeconomic costs of unemployment
− the major types of unemployment
− the meaning of “full employment”
− how inflation is measured
− the meaning of price stability
− the broad causes of inflation
• Instructor gives the students a practice quiz covering these topics.
90 minutes
Group Activity – GDP in the U.S.
60 minutes
• Divide class into random groups of three to four students, so that each student gets to work with
different people each week.
• Each group will:
− Identify and explain all GDP components and their respective percentage contribution to
total GDP.
− Access the Bureau of Economic Analysis Website and study GDP growth rates and their
components for the four most recent quarters.
− Complete an analysis of the following:
o Describe the recent rate of GDP growth/decline.
o Explain what has driven the change in GDP.
o Give your forecast GDP growth/decline over the next year and explain your answer.
− Prepare a 5 minute presentation.
− Present their findings to the class.
− Submit their presentation to the Dropbox in D2L
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course
overview
learning
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IDEA
schedule &
sessions
Love of Christ and Neighbor  Prayer  Stability  Conversatio  Obedience  Discipline  Humility  Stewardship  Hospitality  Community
18
Session 1A
MBA 510 Macroeconomics
Faculty Evening Session 2A
Activities, Assignments and Agenda (continued)
Team Case Study - Part 2
60 minutes
• Students should work in the same learning team for the entire 6 weeks of the course. Each week
they will complete one of the 6 parts of the case study.
• The objective of the case study is to prepare a comprehensive analysis of the economic policies of
the Democratic and Republican parties.
• In this first part of the case, the team researches the stated position of each political party on
unemployment and inflation. The team should prepare a one page summary of each party’s
position and submit it to the Dropbox in D2L.
• The instructor will review of the teams’ submissions, and then post them to the Content area in D2L
so that the entire class has access to them for future review.
home
about
expectations
resources
course
overview
learning
outcomes
IDEA
schedule &
sessions
Love of Christ and Neighbor  Prayer  Stability  Conversatio  Obedience  Discipline  Humility  Stewardship  Hospitality  Community
19
Session 1A
MBA 510 Macroeconomics
Faculty Evening Session 2B
Activities, Assignments and Agenda
Textbook Reading Assignment:
• Chapter 5 National Income Accounting
• Chapter 6 Unemployment
• Chapter 7 Inflation
Individual Assignments:
• Complete the assigned quiz in Connect® Plus Economics. The due date for the quiz should be set
to two days after class – for example if class is held on Monday evening, then the quiz is due by
midnight Wednesday. The instructor should check each student’s score on Thursday and follow up
with any students who appear to have had difficulty with the quiz.
• Complete the assigned chapter problems in Connect® Plus Economics. The due date for the
assignment should be set to six days after class – for example, if class is held on Monday evening,
then the problems are due by midnight Sunday. The instructor should check each student’s score
before class, to identify areas that students had difficulty with and might need further explanation in
class.
Desire2Learn Discussion Topic – U.S. Unemployment Analysis:
Review the data on employment available from the Bureau of Labor Statistics: at
http://www.bls.gov/cps/cpsatabs.htm and:
1. Describe the recent rate of unemployment.
2. Explain what has driven the unemployment rate.
3. Forecast the unemployment rate over the next three years and explain your answer.
4. Are you confident in economists' current forecasts of our unemployment outlook?
home
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course
overview
learning
outcomes
IDEA
schedule &
sessions
Love of Christ and Neighbor  Prayer  Stability  Conversatio  Obedience  Discipline  Humility  Stewardship  Hospitality  Community
20
Session 1A
MBA 510 Macroeconomics
Faculty Evening Session 3A
Activities, Assignments and Agenda
Review Solutions to Individual Assignments
• Review solutions to quiz on Chapters 5, 6 and 7
• Review solutions to individual chapter problems from Chapters 5, 6 and 7
30 minutes
Key Points from Chapters 11 and 12
90 minutes
• Instructor engages the class in a dialogue covering:
− what the real GDP gap and the aggregate demand shortfall measure
− the desired scope and the tools of fiscal stimulus
− what the aggregate demand excess measures and the desired scope and tools of fiscal
restraint
− how the multiplier affects fiscal policy
− the origins of cyclical and structural deficits
− how the national debt has accumulated
− how and when “crowding out” occurs
− what the real burden of the national debt is
• Instructor gives the students a practice quiz covering these topics.
Group Activity – U.S. Fiscal Policy
60 minutes
• Divide class into random groups of three to four students, so that each student gets to work with
different people each week.
• Each group will :
− Define, discuss, and contrast the U.S. debt and deficit spending.
− Suggest and discuss the steps Government can take in the short-term and in the long-term
to reduce or eliminate deficit spending.
− Conclude what is likely to happen to your personal well-being if our Government does not
reduce or eliminate deficit spending.
− Prepare a 5 minute presentation.
− Present their findings to the class.
− Submit their presentation to the Dropbox in D2L
home
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course
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learning
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schedule &
sessions
Love of Christ and Neighbor  Prayer  Stability  Conversatio  Obedience  Discipline  Humility  Stewardship  Hospitality  Community
21
Session 1A
MBA 510 Macroeconomics
Faculty Evening Session 3A
Activities, Assignments and Agenda (continued)
Team Case Study - Part 3
60 minutes
• Students should work in the same learning team for the entire 6 weeks of the course. Each week
they will complete one of the 6 parts of the case study.
• The objective of the case study is to prepare a comprehensive analysis of the economic policies of
the Democratic and Republican parties.
• In this third part of the case, the team researches the stated position of each political party on fiscal
policy. The team should prepare a one page summary of each party’s position and submit it to the
Dropbox in D2L.
• The instructor will review of the teams’ submissions, and then post them to the Content area in D2L
so that the entire class has access to them for future review.
home
about
expectations
resources
course
overview
learning
outcomes
IDEA
schedule &
sessions
Love of Christ and Neighbor  Prayer  Stability  Conversatio  Obedience  Discipline  Humility  Stewardship  Hospitality  Community
22
Session 1A
MBA 510 Macroeconomics
Faculty Evening Session 3B
Activities, Assignments and Agenda
Textbook Reading Assignment:
• Chapter 11 Fiscal Policy
• Chapter 12 Deficits and Debt
Individual Assignments:
• Complete the assigned quiz in Connect® Plus Economics. The due date for the quiz should be set
to two days after class – for example if class is held on Monday evening, then the quiz is due by
midnight Wednesday. The instructor should check each student’s score on Thursday and follow up
with any students who appear to have had difficulty with the quiz.
• Complete the assigned chapter problems in Connect® Plus Economics. The due date for the
assignment should be set to six days after class – for example, if class is held on Monday evening,
then the problems are due by midnight Sunday. The instructor should check each student’s score
before class, to identify areas that students had difficulty with and might need further explanation in
class.
Desire2Learn Discussion Topic – Growth in U.S. Government:
Discuss the following:
1. Do you believe the historical growth rates of government are justified?
2. What implications does growth in government have for our economy?
3. What government body controls this growth?
4. What can you do as a citizen/voter to effect reduction or promote this growth?
home
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expectations
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course
overview
learning
outcomes
IDEA
schedule &
sessions
Love of Christ and Neighbor  Prayer  Stability  Conversatio  Obedience  Discipline  Humility  Stewardship  Hospitality  Community
23
Session 1A
MBA 510 Macroeconomics
Faculty Evening Session 4A
Activities, Assignments and Agenda
Review Solutions to Individual Assignments
• Review solutions to quiz on Chapters 11 and 12
• Review solutions to individual chapter problems from Chapters 11 and 12
30 minutes
Key Points from Chapters 13, 14 and 15
• Instructor engages the class in a dialogue covering:
− what money is
− how banks create money
− how the money multiplier works
− how the Federal Reserve is organized
− the Fed’s major policy tools
− how open market operations work
− how interest rates are set in the money market
− how monetary policy affects macro outcomes
− the constraints on monetary policy impact
• Instructor gives the students a practice quiz covering these topics.
90 minutes
Group Activity – Evidence of Monetarism
60 minutes
• Divide class into random groups of three to four students, so that each student gets to work with
different people each week.
• Each group will research historical inflation rates and money growth data at http://www.nowandfutures.com/key_stats.html#ell and historical CPI data at http://www.bls.gov/cpi/ and:
o Review and compare the trends in money supplies/ aggregates to the trend in the CPI over
several decades.
o State their opinion about the validity of Monetarism (Friedman's famous quote that inflation
is everywhere and always a monetary phenomenon).
• Each group will prepare a 5 minute presentation and present their findings to the class.
• Each group will submit their presentation to the Dropbox in D2L
home
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course
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learning
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IDEA
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sessions
Love of Christ and Neighbor  Prayer  Stability  Conversatio  Obedience  Discipline  Humility  Stewardship  Hospitality  Community
24
Session 1A
MBA 510 Macroeconomics
Faculty Evening Session 4A
Activities, Assignments and Agenda (continued)
Team Case Study - Part 4
60 minutes
• Students should work in the same learning team for the entire 6 weeks of the course. Each week
they will complete one of the 6 parts of the case study.
• The objective of the case study is to prepare a comprehensive analysis of the economic policies of
the Democratic and Republican parties.
• In this fourth part of the case, the team researches the stated position of each political party on
monetary policy. The team should prepare a one page summary of each party’s position and
submit it to the Dropbox in D2L.
• The instructor will review of the teams’ submissions, and then post them to the Content area in D2L
so that the entire class has access to them for future review.
home
about
expectations
resources
course
overview
learning
outcomes
IDEA
schedule &
sessions
Love of Christ and Neighbor  Prayer  Stability  Conversatio  Obedience  Discipline  Humility  Stewardship  Hospitality  Community
25
Session 1A
MBA 510 Macroeconomics
Faculty Evening Session 4B
Activities, Assignments and Agenda
Textbook Reading Assignment:
• Chapter 13 Money and Banks
• Chapter 14 The Federal Reserve System
• Chapter 15 Monetary Policy
Individual Assignments:
• Complete the assigned quiz in Connect® Plus Economics. The due date for the quiz should be set
to two days after class – for example if class is held on Monday evening, then the quiz is due by
midnight Wednesday. The instructor should check each student’s score on Thursday and follow up
with any students who appear to have had difficulty with the quiz.
• Complete the assigned chapter problems in Connect® Plus Economics. The due date for the
assignment should be set to six days after class – for example, if class is held on Monday evening,
then the problems are due by midnight Sunday. The instructor should check each student’s score
before class, to identify areas that students had difficulty with and might need further explanation in
class.
Desire2Learn Discussion Topic – Inflation Analysis
Research a historical example of inflation (greater than 10% in the U.S. or greater than 15% in any
other country):
1. Summarize the time-frame, duration, and rate of inflation
2. Analyze the root causes of the inflation
3. Describe interest rates during the inflationary period
4. Describe the major economic consequences of the inflation
home
about
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course
overview
learning
outcomes
IDEA
schedule &
sessions
Love of Christ and Neighbor  Prayer  Stability  Conversatio  Obedience  Discipline  Humility  Stewardship  Hospitality  Community
26
Session 1A
MBA 510 Macroeconomics
Faculty Evening Session 5A
Activities, Assignments and Agenda
Review Solutions to Individual Assignments
30 minutes
• Review solutions to quiz on Chapters 13, 14 and 15
• Review solutions to individual chapter problems from Chapters 13, 14 and 15
Key Points from Chapters 16 and 17
• Instructor engages the class in a dialogue covering:
− how an unemployment-inflation trade-off arises
− the tools of supply-side policy
− the principal sources of economic growth
− the policy tools for accelerating growth
− the pros and cons of continued growth
• Instructor gives the students a practice quiz covering these topics.
90 minutes
Group Activity – Financial Crisis of 2008
60 minutes
• Divide class into random groups of three to four students, so that each student gets to work with
different people each week.
• Each group is to explore the financial crisis of 2008, which shone a light on the roles of each of
these three governing bodies in managing our financial system. Each group will:
− State their opinion of whom they believed (in or outside of government), was responsible for
the crisis prior to your research.
− Define and explain Monetary Policy and its relationship to Fiscal Policy.
− What government body plays an authoritative policy-making role?
− What government bodies are limited to persuasion in attempting to influence Fiscal Policy?
− What evidence do you find to support or contradict the assertion that The Fed is an
independent body?
− Summarize by contrasting your opening opinion versus your concluding opinion of whom
was responsible for the crisis.
− Prepare a 5 minute presentation and present their findings to the class.
− Submit their presentation to the Dropbox in D2L
home
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sessions
Love of Christ and Neighbor  Prayer  Stability  Conversatio  Obedience  Discipline  Humility  Stewardship  Hospitality  Community
27
Session 1A
MBA 510 Macroeconomics
Faculty Evening Session 5A
Activities, Assignments and Agenda (continued)
Team Case Study - Part 5
60 minutes
• Students should work in the same learning team for the entire 6 weeks of the course. Each week
they will complete one of the 6 parts of the case study.
• The objective of the case study is to prepare a comprehensive analysis of the economic policies of
the Democratic and Republican parties.
• In this fifth part of the case, the team researches the stated position of each political party on
economic growth. The team should prepare a one page summary of each party’s position and
submit it to the Dropbox in D2L.
• The instructor will review of the teams’ submissions, and then post them to the Content area in D2L
so that the entire class has access to them for future review.
home
about
expectations
resources
course
overview
learning
outcomes
IDEA
schedule &
sessions
Love of Christ and Neighbor  Prayer  Stability  Conversatio  Obedience  Discipline  Humility  Stewardship  Hospitality  Community
28
Session 1A
MBA 510 Macroeconomics
Faculty Evening Session 5B
Activities, Assignments and Agenda
Textbook Reading Assignment:
• Chapter 16 Supply-Side Policy: Short-Run Options
• Chapter 17 Growth and Productivity: Long-Run Possibilities
Individual Assignments:
• Complete the assigned quiz in Connect® Plus Economics. The due date for the quiz should be set
to two days after class – for example if class is held on Monday evening, then the quiz is due by
midnight Wednesday. The instructor should check each student’s score on Thursday and follow up
with any students who appear to have had difficulty with the quiz.
• Complete the assigned chapter problems in Connect® Plus Economics. The due date for the
assignment should be set to six days after class – for example, if class is held on Monday evening,
then the problems are due by midnight Sunday. The instructor should check each student’s score
before class, to identify areas that students had difficulty with and might need further explanation in
class.
Desire2Learn Discussion Topic – Tax Incentives
Research a historical example of a business or consumer tax incentive in the U.S.
1. Summarize the time-frame, duration, and amount of the incentive
2. Analyze the effectiveness of the incentive
3. Did the incentive achieve its intended purpose – why or why not
home
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expectations
resources
course
overview
learning
outcomes
IDEA
schedule &
sessions
Love of Christ and Neighbor  Prayer  Stability  Conversatio  Obedience  Discipline  Humility  Stewardship  Hospitality  Community
29
Session 1A
MBA 510 Macroeconomics
Faculty Evening Session 6A
Activities, Assignments and Agenda
Review Solutions to Individual Assignments
• Review solutions to quiz on Chapters 16 and 17
• Review solutions to individual chapter problems from Chapters 16 and 17
30 minutes
Key Points from Chapters 19, 20 and 21
• Instructor engages the class in a dialogue covering:
− what comparative advantage is
− what the gains from trade are
− how trade barriers effect prices, output and incomes
− the sources of foreign exchange demand and supply
− how exchange rates are established
− how changes in exchange rates affect prices, output and trade flows
− how U.S. and global poverty are defined
− how many people in the world are poor
− what factors impede or promote poverty reduction
• Instructor gives the students a practice quiz covering these topics.
90 minutes
Group Activity – Economic Theory Versus Reality
60 minutes
• Divide class into random groups of three to four students, so that each student gets to work with
different people each week.
• Each group addresses the following questions:
o Prior to this course, what was your view of the roles and efficacy of various government
policy-makers?
o Have your views changed, and conceptually, in what ways have they changed?
o Provide specific examples of insight gained from this course that have resulted in your
current view.
• Each group will prepare a 5 minute presentation and present their findings to the class.
• Each group will submit their presentation to the Dropbox in D2L
home
about
expectations
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course
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outcomes
IDEA
schedule &
sessions
Love of Christ and Neighbor  Prayer  Stability  Conversatio  Obedience  Discipline  Humility  Stewardship  Hospitality  Community
30
Session 1A
MBA 510 Macroeconomics
Faculty Evening Session 6A
Activities, Assignments and Agenda (continued)
Team Case Study – Part 6
60 minutes
• Students should work in the same learning team for the entire 6 weeks of the course. Each week
they will complete one of the 6 parts of the case study.
• The objective of the case study is to prepare a comprehensive analysis of the economic policies of
the Democratic and Republican parties.
• In this final part of the case, the teams will debate the pros and cons of the economic policies of the
political parties.
• Assign each team one of the following position statements:
1. The economic policies of the Democratic Party of good for businesses and consumers.
2. The economic policies of the Democratic Party are bad for businesses and consumers.
3. The economic policies of the Republican Party are good for businesses and consumers.
4. The economic policies of the Republican Party are bad for businesses and consumers.
• Give the teams 30 minutes to prepare their presentation.
• Each team will give a 5 minute presentation in which they defend their assigned position, using
economic concepts covered in this course.
• The team should submit their presentation to the Dropbox in D2L.
home
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sessions
Love of Christ and Neighbor  Prayer  Stability  Conversatio  Obedience  Discipline  Humility  Stewardship  Hospitality  Community
31
Session 1A
MBA 510 Macroeconomics
Faculty Evening Session 6B
Activities, Assignments and Agenda
Textbook Reading Assignment:
• Chapter 19 International Trade
• Chapter 20 International Finance
• Chapter 21 Global Poverty
Individual Assignments:
• Complete the assigned quiz in Connect® Plus Economics. The due date for the quiz should be set
to two days after class – for example if class is held on Monday evening, then the quiz is due by
midnight Wednesday. The instructor should check each student’s score on Thursday and follow up
with any students who appear to have had difficulty with the quiz.
• Complete the assigned chapter problems in Connect® Plus Economics. The due date for the
assignment should be set to six days after class – for example, if class is held on Monday evening,
then the problems are due by midnight Sunday. The instructor should check each student’s score
before class, to identify areas that students had difficulty with and might need further explanation in
class.
Desire2Learn Discussion Topic – U.S. Trade Deficit
Research the U.S. Trade Deficit on the internet and answer the following questions:
1. How has it changed recently?
2. Do you expect this trend to continue?
3. Is this trade deficit a bad thing or a good thing, and why?
4. What should we do about it if anything?
home
about
expectations
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course
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learning
outcomes
IDEA
schedule &
sessions
Love of Christ and Neighbor  Prayer  Stability  Conversatio  Obedience  Discipline  Humility  Stewardship  Hospitality  Community
32
Session 1A
MBA 510 Macroeconomics
Appendix – Connect Plus® Economics Assignments
Title
Quiz 1
Assigned Questions/Problems
Test Bank Questions
Chapter 1: 4, 14, 15
Chapter 2: 1, 6
Chapter 3: 2, 3
Chapter 4: 3, 5, 14
Individual
Textbook Problems
Chapter
Chapter 1: 2
Problems
Chapter 2: 1
Assignment 1 Chapter 3: 2, 4
Chapter 4: 6, 9
Quiz 2
Test Bank Questions
Chapter 5: 1, 3, 5, 10
Chapter 6: 1, 3, 4
Chapter 7: 3, 4, 11
Individual
Textbook Problems
Chapter
Chapter 5: 1, 2
Problems
Chapter 6: 3, 4
Assignment 2 Chapter 7: 2, 7
Quiz 3
Test Bank Questions
Chapter 11: 1, 4, 5, 6, 9
Chapter 12: 5, 6, 11, 14, 21
Textbook Problems
Chapter 11: 1, 2, 7
Chapter 12: 1, 3, 4
Individual
Chapter
Problems
Assignment 3
Quiz 4
Test Bank Questions
Chapter 13: 4, 6, 8, 16
Chapter 14: 1, 3, 31
Chapter 15: 6, 25, 27
Individual
Textbook Problems
Chapter
Chapter 13: 1, 2
Problems
Chapter 14: 1, 3
Assignment 4 Chapter 15: 6, 7
Quiz 5
Test Bank Questions
Chapter 16: 3, 14, 19, 36, 44
Chapter 17: 3, 13, 16, 18, 20
Textbook Problems
Chapter 16: 4, 5, 6
Chapter 17: 1, 5, 6
Individual
Chapter
Problems
Assignment 5
Quiz 6
Test Bank Questions
Chapter 19: 1, 2, 4, 10
Chapter 20: 1, 4, 9
Chapter 21: 1, 3, 4
Individual
Textbook Problems
Chapter
Chapter 19: 2, 3
Problems
Chapter 20: 2, 8
Assignment 6 Chapter 21: 1, 2
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Love of Christ and Neighbor  Prayer  Stability  Conversatio  Obedience  Discipline  Humility  Stewardship  Hospitality  Community
33
Session 1A