SYLLABUS
Principles of Economics - Macroeconomics
Valencia College
Fall 2013
Course: ECO 2013; CRN 16870
Professor: David A. Dyer
Class Meets: Odd Days 8:18 AM – 9:08 AM
Room: CHS Bldg. 27, Room 120
Phone: Home 407-894-8494; Cell 407-697-8903
E-Mail: ddyer@mail.valenciacc.edu ; dadyer@dadyer.com
We will be using Blackboard in this course for assignments and online quizzes and exams. Get there from here:
https://learn.valenciacollege.edu/
Log in to Blackboard using your Atlas User ID and Password.
COURSE DESCRIPTION
This course is an introduction to economic theory and analysis. The course will cover basic economic theory (marginal
analysis, supply and demand, etc.) with emphasis on the national economy. We will examine topics such as inflation,
unemployment, economic growth, fiscal policy, and monetary policy.
This course is designed for prospective economics majors and students pursuing degrees in other specialized business
curricula (marketing, finance, accounting, etc.). Completion of the full Principles of Economics sequence (ECO 2013 and
ECO 2023) is highly recommended. This course includes a learning activity designed to ensure competence in the basic
use of computers.
DUAL ENROLLMENT CONSIDERATIONS
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This is a Valencia College course – not a high school course!
The class starts at 7:15 am and ends at 8:05 am.
You will be expected to be in class, ready to begin, at 7:15 am! If you ride a bus that arrives after 7:15 am you
need to make other arrangements to get to school on time.
You may bring a beverage (juice, coffee, soda, tea) to class but eating breakfast in class is prohibited. Be sure
you eat breakfast before class begins.
If you are engaged in extra-curricular high school activities, be aware that those activities will not excuse you
from attending class or completing assignments, quizzes, or exams.
For additional information see: https://www.ocps.net/lc/southeast/hco/AC/programs/Pages/DualEnrollment.aspx
MAJOR TOPICS/CONCEPTS/SKILLS
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Economic perspective (rationalism, self-interest, opportunity costs, marginalism)
Economic Systems
Modeling scarcity (PPF, comparative advantage, circular flow)
Supply & Demand
Price Controls
International Trade
Market Failures
GDP/Economic Indicators/Business Cycle
Evils of Economics (Unemployment/Inflation/Stagflation)
Schools of Economic Thought
Aggregate Expenditures Model
AD/AS Model
Fiscal Policy
Supply-Side Economics
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Money & Banking
Monetary Policy
MAJOR LEARNING OUTCOMES
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Describe the role of the major participants in the economy and how they affect it.
Recognize the role that self-interest and rational behavior plays in the decision-making process.
Identify the key variables necessary for assessing the status of the economy.
Recognize the major schools of economic thought and their approach to solving economic problems.
Understand how scarcity frames the basic economic decision making process and resource allocation.
Understand the basis for and implications of international trade.
Understand the economic foundation of political parties.
Understand the market system and how prices are established.
Understand the role of economic freedom in shaping markets worldwide.
STUDENT CORE COMPETENCIES:
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Think clearly, critically, and creatively by analyzing, synthesizing, integrating and evaluating knowledge.
Evaluate your own and other’s Values from individual, cultural, and global perspectives.
Communicate by reading, listening, writing, and speaking effectively.
Act purposefully, reflectively, and responsibly by implementing effective problem solving and decision making
strategies.
By thinking clearly, critically and creatively, students will analyze various viewpoints and perspectives, forming their
own fact-based opinions. VCC Core Competencies: College Catalog http://valenciacollege.edu/catalog/1112/default.htm .
REQUIRED TEXT
Gwartney, Stroup, Sobel, MacPherson, Macroeconomics - Private and Public Choice, 14th Edition, 2013. SouthWestern. ISBN-13: 978-1-111-97062-8.
STUDENT PREPARATION FOR CLASS MEETINGS
Students are expected to attend each scheduled class, be prepared to discuss the assigned text reading material, and
meet other course requirements outlined below.
Participation grades will be assigned based on the student’s overall contributions throughout the semester. The
evaluation method: Meaningful participation in each class: Excellent/Above Average, Occasional Participation:
Average, Little or No Participation: Below Average/Failing. Class meetings will follow a combination lecture/class
discussion format. Lectures and discussions will not always parallel text material.
Students with disabilities who qualify for academic accommodations must provide notification from the Office
for Students with Disabilities (OSD) and discuss specific needs with the instructor during the first two weeks of
class. The Office for Students with Disabilities determines accommodations based on appropriate documentation of
disabilities. The East Campus Office is located in Building 5, Room 216.
ATLAS E-MAIL COMMUNICATION ONLY – WE WILL USE BLACKBOARD IN THIS CLASS
Throughout the semester, I will send important information and reminders to your assigned Atlas E-mail account
(jdoe@mail.valenciacollege.edu).
Students who write to me through Atlas must include his/her name and the class day/time on the Subject Line
in order to receive a reply. I will not respond to anonymous e-mails or share grade information through the Internet
unless I receive a written request through your Atlas account. Non-Atlas e-mails are deleted without being read.
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ATTENDANCE-ABSENCE FROM CLASS, TARDINESS, & WITHDRAWAL POLICY
Attendance is expected and will contribute to course grades (participation). Valencia is a student-centered
learning college. Class attendance is a critical part of the learning process. Students cannot fully maximize their
understanding of economics if they come to class late and/or miss class. Worse, those disruptions negatively impact
the learning process of other students in the class.
LifeMap is a very important part of Valencia's educational experience because it assists students with time
management issues in and out of the classroom. The goal of my class is to enhance your knowledge of economics
while offering real world experiences that will help prepare you for job related success. Employers terminate
employees for habitual tardiness and absences. Tardiness is not only disruptive; it is rude and disrespectful.
ATTENDANCE-ELECTRONIC RECORDING/PLAYBACK & PRIVACY POLICY
Audio/Video recording of class lectures for the purpose of studying at home or after class is strongly encouraged,
however, Audio/Video recording of any portion of the class and/or posting online of comments made by students
and/or the instructor is strictly prohibited and will be considered a violation of privacy rights. This includes social
media websites, including but not limited to: YouTube, Facebook, Twitter, MySpace, Blogs, and news media.
All iPods, iPads, iPhones, cellular phones, and pagers must be turned off during class. If there is an emergency
situation warranting the silent mode use of a cell phone during class, notify me prior to class.
ATTENDANCE - QUIZZES
Students may be given unannounced quizzes that will not be given on a make-up basis. If you are not in class on the
day a quiz is given, you will receive a zero (0) for that quiz grade.
ATTENDANCE - STUDENT CONDUCT
The primary responsibility for managing the classroom environment rests with the professor. Students who engage in
any prohibited or unlawful acts that result in disruption of a class may be directed by the professor to leave the class.
Violation of any Valencia policies/procedures or classroom rules may lead to disciplinary action up to and including
expulsion from the College. Disciplinary action could include being withdrawn from the class, disciplinary warning,
probation, suspension, expulsion, or other appropriate and authorized actions. Valencia’s Student Code of Classroom
Conduct (Policy 10-18) can be found in the current Student handbook, or online at
http://valenciacollege.edu/policies/PDF/10-18.pdf . Additional information is available in the College Catalog
http://valenciacollege.edu/catalog/11-12/default.htm .
ACADEMIC DISHONESTY
All forms of academic dishonesty are prohibited at Valencia. Academic dishonesty includes, but is not limited to,
plagiarism, cheating, furnishing false information, forgery, alteration or misuse of documents, misconduct
during a testing situation, and misuse of identification with intent to defraud or deceive. Sanctions available to
the professor should a violation occur are described in the Valencia Student Handbook or online at
http://valenciacollege.edu/policies/PDF/10-16.pdf.
When the professor has reason to believe that an act of academic dishonesty has occurred, and before sanctions are
imposed, the student shall be given informal notice and an opportunity to be heard by the professor. Any student
determined by the professor to have been guilty of engaging in an act of academic dishonesty shall be subject to a
range of academic penalties as determined by the professor.
These penalties may include, but are not limited to, one or more of the following:
1) Loss of credit for an assignment, exam, or project
2) Reduction in the course grade
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3) A grade of “F” in the course
Students guilty of engaging in a gross or flagrant act of academic dishonesty or repeated instances of academic
dishonesty shall be subject to administrative and/or disciplinary penalties that may include:
1) Warning
2) Probation
3) Suspension and/or Expulsion from the college
I have a zero tolerance policy towards cheating. If you are caught cheating, you will be withdrawn from this
class, assigned an “F” as a Final Grade, and possibly face withdrawal from all other classes during this
semester. In addition, I pursue placing students who have cheated on a one-year academic suspension.
EXAMS - IMPORTANT EXAM POLICIES
It is the student’s responsibility to contact the instructor via Atlas if a medical emergency or family death arises prior
to an exam. Failure to notify the instructor prior to the missed exam will result in a zero (0) grade on the exam.
The Final Exam will be a comprehensive evaluation of each student’s knowledge and understanding of the course.
Any student not taking the final exam on the scheduled day/time will be assigned a zero (0), failing the course.
Students who bring their cellular phones, iPods, pagers, and/or electronic devices to class on an exam day and openly
display them during the exam or allow them to be heard will be asked to leave the room. In addition, a grade of zero
(0) will be assigned for that scheduled exam.
I have a “Zero Tolerance” policy regarding cheating. If you are caught cheating on an exam, you will be
withdrawn from the class and assigned an “F” as a Final Grade.
QUIZZES & WRITTEN ASSIGNMENTS
Throughout the semester there will be a variety of quizzes given. These quizzes will require students to demonstrate
his/her ability to clearly communicate his/her understanding of topics that are covered in reading assignments and/or
class discussions.
Students will be required to locate, evaluate, and effectively use information from diverse sources.
The State of Florida requires that students must demonstrate the ability to use a computer. Students will demonstrate
their computer skills by successfully completing specific written assignments/quizzes that require using the Internet.
INTERNET RESEARCH STATEMENT
Because of the variety of sources, ease of publication, lack of central control and proliferation of commercial
information on the free Internet, it is often hard to tell if the information is reliable. Many sites contain research and
information of high quality. However, unlike traditional print publications or library-based electronic resources, there
is usually no process of peer review, nor is there an editor verifying the accuracy of information presented on the
Internet. There are an increasing number of sites containing information that may be incomplete, anonymously
written, out-of-date, biased, fraudulent, or whose content may not be factual. Students should, therefore, use caution
in use of the free Internet for their research needs. For academic topics that are addressed in scholarly literature, use
of electronic databases or visiting the library may better meet your needs. However, each professor makes the final
determination of what is or is not accepted as a valid source so review the syllabus for specific guidelines from your
professor. For more information: http://faculty.valenciacollege.edu/infolit/evaluation/default.htm
WITHDRAWAL POLICY
Per Valencia Policy 4-07 (Academic Progress, Course Attendance and Grades, and Withdrawals), a student who
withdraws from class before the withdrawal deadline of 3/22/2013, will receive a grade of "W." A student is not
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permitted to withdraw after the withdrawal deadline. A faculty member MAY withdraw a student up to the beginning
of the final exam period for violation of the class attendance policy. A student who is withdrawn by faculty for violation
of the class attendance policy will receive a grade of "W." Any student who withdraws or is withdrawn from a class
during a third or subsequent attempt in the same course will be assigned a grade of "F." Complete policy and procedure
overview on Valencia Policy 4-07: http://valenciacollege.edu/generalcounsel/policydetail.cfm?RecordID=75.
All students expecting to earn a final grade for the course must take the Final Exam. Incompletes will be considered
only in extreme circumstances.
OFFICE HOURS-EAST CAMPUS
Because I am an Associate Professor for Valencia College, I don’t have an office on the Valencia East Campus or at
the Colonial High School Campus. Therefore, I have provided you with an e-mail address and telephone numbers to
contact me if necessary outside of class. If we need to discuss something in person I will make arrangements to meet
with you here on the CHS campus at a time and location convenient for us both.
COURSE GRADES
Final Course grades will be determined by:
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Online and In-Class Assignments/Quizzes: 75%
Comprehensive Final Exam: 25%
Grading Scale:
A 90% – 100%
B 80% – 89%
C 70% – 79%
D 60% – 69%
F < 60%
CLASS SCHEDULE – See Blackboard
Changes in the syllabus and/or schedule may be made at any time during the term by announcement of the
professor. It is your responsibility to stay informed of any changes.
Important and Useful Links:
Valencia Calendars: http://valenciacollege.edu/calendar/
Civic Leadership / Internship and Placement Office: http://valenciacollege.edu/ipo/CivicLeadership.asp
LifeMap: http://www.valenciacollege.edu/lifemap/
VCC Ask Valencia Help Center: http://www.valenciacollege.edu/support/
VCC Clubs, Organizations, and Student Government: http://www.valenciacollege.edu/studentdev/clubs2.cfm
VCC Computer Labs: http://www.valenciacollege.edu/labs/
VCC Library: http://www.valenciacollege.edu/library/
VCC Security: http://www.valenciacollege.edu/security/
VCC Tutoring Services: http://www.valenciacollege.edu/tutoring/
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Final Exam Policy is at: http://valenciacollege.edu/policies/PDF/05-12.pdf and http://valenciacollege.edu/catalog/1112/default.htm
Attendance Policy is at: http://valenciacollege.edu/policies/PDF/10-02.pdf and http://valenciacollege.edu/catalog/1112/default.htm
Class Roll Policy is at: http://valenciacollege.edu/policies/PDF/05-08.pdf
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