Principles of Macroeconomics Syllabus for 2017-2018
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Course

ECON-2301-020 Principles of Macroeconomics

Prerequisites

<p>Prerequisite: MATH-0303, RDNG 0331-minimum grade of C or a score on a state-approved test indicating college-level reading and math skills</p>

Course Description

An analysis of the economy as a whole including measurement and determination of Aggregate Demand and Aggregate Supply, national income, inflation and unemployment. Other topics include international trade, economic growth, business cycles, and fiscal policy and monetary policy.

Student ResourcesStudent Resources Website

Department Expectations

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Notice to Students enrolled in an educational program for preparation of issuance of certain occupational licenses:

Students enrolled in an educational program in preparation for obtaining certain occupational licenses are potentially ineligible for such license if the student has been convicted of an offense. For further information, please contact your advisor, the Legal Clinic, or the faculty member in charge of the educational program that you seek to enroll in. The further information you will receive will include notification to you of your right to request a criminal history evaluation letter from the licensing authority in order to clarify your particular situation.

Hours

(3 sem hrs; 3 lec)

Class Type

On Campus Course

Syllabus Information

Textbooks

ECONOMICS, 2nd Edition by Acemoglu, Laibson, and List

Supplies

Student Performance

This course is an analytical study of the basic principles of macroeconomics, essential to an understanding of economic issues and policy making in the United States.  The course will also take into consideration the impact of the Global economy on United States policy decisions.  In addition, the course is designed to help students understand the economic system and its impact on them as consumers, workers, taxpayers, and citizens.  The course is an introduction to modern, developed and information economics with an emphasis upon the United States economy.  Topics will include theories of production, exchange and allocation, including fiscal and monetary policies.  Prerequisite:  Passage of or exemption from the Reading Section of a TSI approved test or completion of RDNG 0331 with a grade of C or better.  The outcomes for this course are:

1. Define Economics, state the nature of the "Economic Problem," and identify the five fundamental Economic questions.
2. Construct a production possibilities curve and describe how it illustrates basic Economic concepts.
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.
4. Identify the major elements of the National income accounting system and adjust GNP for changes in the price level.
5. Describe the phases of the business cycle.
6. State the types of costs of inflation and unemployment.
7. Identify the Classical and Keynesian Theories of employment and the following related models:  leakages-injections, expenditure-output, and the aggregate demand-aggregate supply model.
8. Select apprpriate discretionary fiscal and monetary policies to solve the problems of inflation and unemployment; identify problems, criticisms and complications associated with each policy.
9. Describe a Phillips curve and the effect of supply-side shocks to the economy.
10. Identify the supply and demand of money, illustrate how banks create money, and describe the structure of the Federal Reserve System.
11. State the law of comparative advantage and the cases for free trade and for protection.
12. Describe three international exchange rate systems, the international balance of payments system, and the current United States balance of payments problem and possible policy solutions.

Students Rights and Responsibilities

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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

CHEATING:  Any student caught cheating or turning in another persons work as their own will receive an F for the course.  The student will not be allowed to drop the class even if the drop date has not passed.  Any appeals will have to be taken to the Dean of Instruction.

CELL PHONE AND OTHER ELECTRONIC DEVICES POLICY:  All cell phones must be turned off and put away during class time.  If you are expecting an important call, you can put your cell phone on the front table and notify the instructor what you are doing.

WITHDRAWAL POLICY: If you are unable to complete the course, you should officially drop the course by coming to the instructor and requesting withdrawal from the class.  Withdrawal from the class must be initiated by the student.  Failure to do so will result in a grade of "F".  The last day to drop with a "W" will be FEBRUARY 27, 2018.

DISABILITY STATEMENT:  Any student, who because of a disabling condition may require some special arrangements to meet course requirements, should contact Accessibility Services at 371-5436, as soon as possible.

Grading Criteria

The course grade will be the average of the two major examinations, and the final.  Each examination will count as 1/3 of the total grade. Should an emergency occur, one major examination may be made up.  The missed examination must be completed by the next scheduled class period, unless special permission is obtained from the instructor in advance.  The final cannot be made up or rescheduled.  If the student has a legitimate reason acceptable to the college, they may apply to the college for an incomplete if they are unable to take the final examination at the scheduled time.  Proper paperwork must be filled out and submitted to the college prior to the final examination.  The instructor reserves the right to subjectively influence the final grade of the student relative to class attendance, student attitude while involved in the class, and student participation in the class. Examinations will be as scheduled in the syllabus unless notice of a change is given by the instructor at least one week in advance.

Grades will be awarded according to the following schedule:

A - 89.5 - 100
B - 79.5 - 89.4
C - 69.5 - 79.4
D - 59.5 - 69.4
F -      0 - 59.4

Attendance

The student is expected to attend all classes unless prior arrangements have been made with the instructor.  YOU MUST BE PRESENT TO LEARN.  All students are expected to be in their seats prior to the start of class and be prepared to take notes at the scheduled start time for the class.  Students are expected to stay in class for the entire period except in case of an emergency.  On any class longer than 90 minutes (1-½ hours) adequate breaks will be given at approximately every 50 minutes.  Sign in sheets will be circulated at the beginning and end of every class.  ANYONE LEAVING EARLY WITHOUT A VALID EXCUSE WILL BE COUNTED AS ABSENT.  FOR EVERY THREE UNEXCUSED ABSENCES YOUR GRADE WILL BE DROPPED ONE LETTER GRADE.

Students will be excused from class without penalty when either representing the College in an approved activity or having an approved reason for not attending.  Reasons for absence must be approved by the instructor, and these exceptions do not relieve the student of the responsibility of making up the missed work as designated.  Excused absences must be documented prior to the class period missed. 

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