SYLLABUS

ECON 2010

PRINCIPLES OF MACROECONOMICS

3 CREDIT HOURS

SEMESTER 1, 2007-2008

EMMETT DULANEY

 

 

I.                   GENERAL INFORMATION

 

Class Meetings:            Section 01: Monday, Wednesday, and Fridays; 9:00 – 9:50

Section 04: Monday, Wednesday, and Fridays;10:00–10:50

                                    Fine Arts, Room 267

Instructor:                     Emmett Dulaney

Office Address:            Falls School of Business

                                    Hardacre Hall, Room 231

                                                Anderson University

                                                Anderson, IN  46012-3495

            Phone:                          765.641.4126

            Email:                           eadulaney@anderson.edu

            Office Hours:                Before class, or by appointment

 

II.                CATALOG COURSE DESCRIPTION

Analysis of modern economic society, including examination of determinants of economic growth, changing price levels, monetary and fiscal policy, distribution of income, public economy, and current problems.

            PREREQUISITE: Sophomore standing

 

III.             PURPOSE & OBJECTIVES OF THIS COURSE

Economics affects every field of business and many in life. The principles and theories of economics can be applied to social behavior and rational decision-making. This course provides a survey of the major explanations for fluctuations in general business conditions. The focus is on how the private sector’s economic behavior is affected by various governmental policies and institutions.

 

Upon successful completion of the course, students will be able to:

 

1.      explain the nature and role of broad social structures from an economic perspective;

2.      identify the fundamental assumptions of economics;

3.      identify forces supporting social order and those leading to societal problems and disorder;

4.      describe the methods, tools, and sources for approaching and resolving economic problems; and

5.      identify the major theories, scholarly works, and methods for the study of societal issues and problems.

 

I.                   REQUIRED TEXT AND MATERIALS

 

Economics: Principles and Applications, Third Edition. Hall & Lieberman (2006 update edition) (ISBN: 0-324-33581-4).

 

The World is Flat (Updated and Expanded). Thomas Friedman (ISBN: 0-374-29279-5)

 

There will also be assigned readings from the Wall Street Journal, The Economist, and other journals. Links to pertinent articles, or handouts, will be assigned on a topic-by-topic basis.

 

II.                COURSE REQUIREMENTS, POLICIES, AND EVALUATION PROCEDURES

 

A.     Course Requirements

 

1.      Exams (60%). There will be four tests throughout the semester. Test format will be a combination of short answer, essay, and multiple choice. The tests will cover the material from the class lectures, presentations, related text chapters, and assigned readings. Exam dates are 9/21, 10/24, 11/28, and the final (based on AU’s calendar).

 

2.      Research/Opinion Papers (20%). Students are required to write two papers of 1,000 words each in Microsoft Word and upload them in Moodle. Each paper should include research (cited) on the assigned topics. The papers are due before the start of class on the day they are assigned. Late papers will not be accepted.

The subject of each paper, and the rubric that will be used to grade it, will be discussed in class.

 

3.      Quizzes and Participation (20%). There will be regularly assigned quizzes on the reading material administered in Moodle and pop quizzes given during class. The Moodle quizzes must be completed prior to the start of class on the day assigned, while the pop quizzes will typically not be announced in advance. Regardless of the format of the quiz, you may not make up missed quizzes.

 

You are expected to attend class and contribute to class discussions and activities. While coming to class is important, merely attending and listening to the discussions is not sufficient. If you keep up with the readings, attend the class meetings, and contribute to class discussions, this requirement will not represent a major obstacle to successful completion of the course.

 

 

B.     Attendance Policy

 

Attendance and participation is expected.  Students should attend all class sessions unless prevented from so doing by extenuating circumstances. It is the student’s obligation to personally notify the instructor of any absence: in advance, if possible. The fourth absence, and each subsequent one thereafter, can have a negative impact on your final grade. Unless prior arrangements are made with the instructor, two late arrivals and/or two early departures will equal one absence. Please be mindful of the fact that, regardless of your reason(s) for an absence, you are responsible for the material covered in class during each session.

 

 
C.     Ethical Expectations

 

Students are expected to conduct themselves with the highest ethics.  Individual assignments are to be done only by the student. All submissions handed in under a student’s name are to be limited to that student’s work. Any exception to these guidelines should be reported and discussed with the instructor. There is a ZERO TOLERANCE rule in effect for this area; any violations will result in a zero for the submitted material.

 

 

D.    Instructional Strategies

 

This course will utilize lectures, discussion of assigned readings, and case studies. It will be beneficial if you read the referenced text before each class meeting and are prepared to discuss it.

 

E.     Evaluation Procedures

 

Grades will reflect your ability to perform at the college level.  The components of your final grade are outlined in the course requirements above. Letter grades for the course will be determined using the following criteria:

 
Point Distribution

 

Exam #1 . . . . . . . . . . . . . .  . .  150

Exam #2 . . . . . . . . . . . .  . . . .  150

Exam #3 . . . . . . . . . .  . . . . . .  150

Final Exam . . . . .  . . . . . . . . .  150

Research/Opinion Papers. . .200

Quizzes. . . . . . . . . . . . . . . . .   200

 

TOTAL . . . .  . . . . . . . . . . 1000
Grading Scale

 

A               = 930 – 1000          (93%-100%)

A-             = 900 – 929            (90% - 92%)

B+             = 880 – 899            (88% - 89%)

B               = 830 – 879            (83% - 87%)

B-              = 800 – 829            (80% - 82%)

C+             = 780 – 799            (78% - 79%)

C               = 730 – 779            (73% - 77%)

C-              = 700 – 729            (70% - 72%)

D               = 600 – 699            (60% - 69%)

F                = 0 – 599                (0 – 59%)

 

 

Assignments and examinations should be completed on the announced due dates. Material submitted after the due date, without prior approval, will not be accepted.

 

F.      Policies Related to Students with Special Needs

 

Students having special problems that might affect their performance should notify the instructor during the first week of school.  Possible arrangements can be made to work closely with the Learning Center, a tutor, or special time provided by the instructor.

 

G.    Policies Related to Cell Phones

 

Cell phones should not be used in class.  Phones should not be used for making or receiving calls, or text messaging. Any phones used for this purpose, without prior consent, will become the property of the instructor.

 

III.             TENATIVE SCHEDULE

DATE

TOPIC/ACTIVITY

9/5 – W

Review Syllabus | Principles of Economics

9/7 – F

What is Economics (Chapter 1)

9/10 – M

Scarcity, Choice, and Economic Systems (Chapter 2)

9/12 – W

Supply and Demand (Chapter 3)

9/14 – F

The World is Flat (Chapter 1)

9/17 – M

Working with Supply and Demand (Chapter 4)

9/19 – W

 Is America #1

9/21 – F

Exam 1 – Chapters 1 through 4 and Friedman

9/24 – M

The World is Flat (Flattener #1)

9/26 – W

What Macroeconomics Tries to Explain (Chapter 16)

9/28 – F

The World is Flat (Flatteners #2 & #3)

10/1 – M

Production, Income, and Employment (Chapter 17)

10/3 – W

Production, Income, and Employment (Chapter 17)

10/5 – F

Discuss Paper Coming Due

10/8 – M

The Monetary System, Prices, and Inflation (Chapter 18)

PAPER 1 DUE

10/10 – W

Review of findings on Paper 1 – what to do different on 2

10/12 – F

World is Flat (Flatteners #4 & #5)

10/15 – M

The Classical Long Run Model (Chapter 19)

10/17 – W

World is Flat (Flatteners #6 & #7)

10/19 – F
No class – Fall Break

10/22 – M

World is Flat (Flatteners #8 & #9 & #10)

10/24 – W

Exam 2 – Chapters 16 through 19 and Friedman

10/26 – F

Economic Growth and Rising Living Standards (Chapter 20)

10/29 – M

Economic Fluctuations (Chapter 21)

10/31 – W

The Short-Run Macro Model (Chapter 22)

11/2 – F

World is Flat (Chapter 3)

11/5 – M

The Banking System and the Money Supply (Chapter 23)

11/7 – W

The Money Market and the Interest Rate (Chapter 24)

11/9 – F

World is Flat (Chapter 4)

11/12 – M

Aggregate Demand and Aggregate Supply (Chapter 25)

PAPER #2 DUE

11/14 – W

Discussion of Paper Two Topic and Findings

11/16 – F

World is Flat (Chapter 5): America and Free Trade

11/19 – M

Inflation and Monetary Policy (Chapter 26)

11/21 – W

No class – Thanksgiving Break

11/23 – F

No class – Thanksgiving Break

11/26 – M

Fiscal Policy: Taxes, Spending, Federal Budget (Chapter 27)

11/28 – W

Exam 3 – Chapters 20 – 27 and Friedman Chapters 3, 4, 5

11/30 – F

World is Flat (Chapter 6): The Untouchables

12/3 – M

World is Flat (Chapter 7): The Right Stuff

12/5 – W

World is Flat (Chapter 8): The Quiet Crisis

12/7 – F

World is Flat (Chapter 12): The Unflat World

12/10 – M

World is Flat (Chapter 13): Globalization of the Local

12/12 – W

World is Flat (Chapter 9): This is Not a Test

12/14 – F

Review for Final Exam

12/18-Tue

Final Exam 9:30-11:10 (for section 04)

12/20 - Thur

Final Exam 9:30-11:10 (for section 01)

 

 

NOTE: The aforementioned requirements, policies, evaluation procedures, schedule, etc., are subject to modification at the discretion of the instructor.