Principles of Economics I Syllabus for 2011-2012
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Course

ECON-2301-002 Principles of Economics I

Prerequisites

RDNG 0331-minimum grade of C or a score on a state-approved test indicating college-level reading skills

Course Description

Analysis of the economy as a whole, national income, money and banking, public finance, international trade and related current problems; macroeconomics.

Student Resources Student Resources Website

Department Expectations

\N

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Hours

(3 sem hrs; 3 lec)

Class Type

Hybrid

Syllabus Information

Textbooks

\ Economics Today, 16th ed, by Roger LeRoy Miller

\ Pearson / Addison Westley

\ ISBN# 13: 9780132772747

\ Access code required purchase.

Supplies

\ Paper, pencil, and calculator.

Student Performance

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1. \ Define economics, states the nature of the economics problem, and identify the five fundamental economics questions.
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2. \ Construct a production possibility curve and describe how it illustrates basic economic concepts.
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3. \ List the economic functions of the government. Identify three major kinds of taxes and also the major expenditures of federal, state, and local governments.
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4. \ Identify the major elements of the national income accounting system and adjust GNP for changes in the price level.
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5. \ Describe the phases of the business cycle; state the types and costs of inflation and unemployment.
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6. \ Identify the Classical and Keynesian theories of employment and these related models: leakages-injection model, the expenditures-output model, and the aggregate demand-aggregate supply model.
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7. \ Select appropriate discretionary fiscal and monetary policies to solve the problems of inflation, and unemployment; identify problems, criticisms, and complications associated with each policy.
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8. \ Describe a Phillips curve, the effect of supply-side shocks on the curve, and two policy options for solving stagflation. 
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9. \ Identify the supply and demand of money, illustrate how banks create money, and describe the structure of the Federal Reserve System. 
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10. \ State the law of comparative advantage and the cases for free trade and for protection. 
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11. \ Describe three international exchange rate systems, the international balance of payments system, and the current U.S. balance of payment problem and possible policy solutions.
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\ By the end of the semester the student will be able to satisfactorily complete all the learning objectives listed in the Student Performance/Learning Objectives with a minimum of 60 percent competency level based on the completion of the exams and other assignments administered under the supervision of the instructor.

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Log in using the AC Connect Portal

In order to receive your AC Connect Email, you must log in through AC Connect at https://acconnect.actx.edu .

If you are an active staff or faculty member according to Human Resources, use "Exchange". All other students, use "AC Connect (Google) Email".

Expected Student Behavior

\ Be on time and prepared for classroom discussion.If food and drink is allowed by the instructor then courtesy of disposing of items is required.Turn off all cell phones and pagers or place on vibrating mode.

Grading Criteria

The course grade will consist of four major exams, weekly quizzes and study plans, and attendance. Your course grade will be the average with each exam counting 60% with quizzes worth 30%, study plan and attendance 5% each.   Late exams will have one letter grade per day deducted.

All assignments past the first exam date will have 5 points per reset taken off their exam.

It is the responsibility of the student to make up any work missed due to absences and to gain missed lecture information through outside reading and/or notes from classmates.Assignments will not be accepted past the due date for any reason. �� The final exam cannot be made up.

Attendance

\ Attendance is 5% of the grade.

\ Attendance of 90% or greater will receive a grade of 100.

\ Attendance of 85% to 89% will receive a grade of 85.

\ Attendance below 85% will receive a grade of "0".

Calendar

Additional Information

\ Last day to drop the class with a "W" is November 16th.