HCCS- Northwest Campus Department of ECONOMICS Summer2017 Course Title: The Macro Economy Today Course Number: ECON 2301 CRN (11352) email: brenda.gibson@hccs.edu Instructor: Education: Brenda Gibson Economics B.A., M.A. Fordham University Finance Certification MBA Fordham University M.Ed. American International College Office Location and Hours: By appointment Required Textbook / Materials: The Macro Economy Today -14 th Edition, by Bradley Schiller, McGraw-Hill plus Connect. COURSE DESCRIPTION AND GOALS Economics 2301 is a survey course in principles of Macroeconomics. A survey course touches lightly on a variety of topics but does not provide a deep and thorough coverage on any particular topic. The objective of the course is to provide students with an intellectual framework for the analysis and evaluation of Macroeconomic issues confronting a society such as the market mechanism, inflation, unemployment, gross domestic product (GDP), and fiscal and monetary policies. The student will receive a solid approach and treatment of Macroeconomic principles that will serve as a foundation for courses in finance, intermediate and advanced Macroeconomics, and other business related courses requiring analytical skills. The course will also help the students develop skills that will enable them to recognize, understand, and respond to economic issues that surround our everyday lives. EXAMINATIONS AND GRADES Your semester grade is determined based on the followings: In-Class Activities and Connect = 25% Reaction Paper = 10% Exams (3) each with equal weight of 10% each Research Project = 10% Final Exam = 25% Your textbook is a vital part of your learning inside and outside of the classroom. Read your text assignments prior to class. Class lectures are based on concept understanding as presented in Schiller s text. Warm-ups will be given in the first 15 minutes of the class at the discretion of your instructor. If you are late and miss the warm-up, the warm-up will not be made up. At the instructor s discretion there will be a quiz over the prior day lecture and/or appropriate related classwork or readings. The warm-ups are very important and the purpose of having them is to help you the student (1) be prepared for lectures and discussions, (2) be in class on time, (3) avoid relying on cramming to pass test, and
(4) to help you know what you did not understand so that we may work through the concept in class. The warm-ups are relatively easy as long as you prepare your work on a daily basis. Exam questions will be more demanding. An exam may be made up at the testing center as agreed by faculty and student. The three exams that may be made up will not be the same test. The exams will cover textbook and lecture materials and consist mainly of a multiple-choice format. Test materials will include: definitions, concepts and principles, problems, and critical thinking. All exams will be graded on the following scale: MAKE-UP EXAMS A= 90-100% B= 80-89% C= 70-79% D= 60-69% F= below 60% I recognize that illness, job requirements, and personal emergencies may sometimes prevent even the most conscientious student from taking an exam. In order to make-up an exam, you will need to let me know so that I can provide the Testing Center with the correct exam. Given that proper documents are provided to the Testing Center then you must schedule the make-up exam with the Testing Center. ATTENDANCE AND DROP POLICY The best policy for Macro and Micro economics is to be in class. This is my expectation. If you do miss classes, please be sure to check the HCC Attendance Policy as a confirmed guideline. Economics is a challenging subject. It requires that students attend classes and maintain a gradual course of study. It has been my experience that students with poor attendance records and those who are consistently tardy perform very poorly in this course. I hope that everyone succeeds in this course, and I will do my best to help you learn, but I cannot be of much help if you do not study. Due to new HCC policies and state mandates, I will not withdraw students. If you wish to withdraw from the course, please contact a counselor in student services. I recommend that you discuss this with me before you decide, but the decision is yours. If you do not withdraw yourself from the course by the deadline for withdrawal, you will not receive a W. Also, the state of Texas has passed a new law limiting new students (as of Fall 2007) to no more than six withdrawals throughout their academic career in obtaining baccalaureate degree. NOTICE: Students who take a course for the third time or more must now pay significant tuition /fee increases at HCC and other Texas public colleges and universities. At HCC it is an additional $50 per credit hour. If you are considering course withdrawal because you are not earning 2
passing grades, confer with your instructor/counselor as early as possible about your study habits, reading and writing homework, test-taking skills, attendance, course participation, and opportunities for tutoring or other assistance that might be available. ASSIGNMENTS It is imperative that students read the assigned chapters in advance before they are presented and discussed in the classroom. Students are required to do the assigned work within the stipulated period. If you need to discuss the related materials with me, please let me know in advance. And feel free to ask questions. A great majority of students seem to worry about their questions to be dumb questions. A dumb question does not exist. Each and every question has its own merits and therefore is valuable and contributes to the learning process. Without asking and subsequent hard trying, we will not learn. CLASSROOM CONDUCT This is a college classroom where adult behavior is expected and required. Conduct which interferes with the teaching or learning process will not be tolerated, and may result in an administrative withdrawal without refund. Please be informed that eating in class is not allowed. All cell phones, computers and beepers must be turned off during the entire length of the class period. Under no circumstances should students answer cell phones in class nor can they step outside to answer a phone call. Any student who violates this rule will be barred from class for that period. SCHOLASTIC DISHONESTY HCCS students are responsible for conducting themselves with honor and integrity in fulfilling course requirements. Scholastic dishonesty includes but is not limited to: looking on another student s paper, copying from another student s work, loading calculators with information before and during exams, and enabling another student to look on one s own paper. Students are responsible for honesty and independent effort. Plagiarism means passing off as his/her own the ideas or writings of another (that is, without giving proper credit by documenting sources). Plagiarism includes submitting a paper, report or project that someone else has prepared, in whole or in part. Collusion is inappropriately collaborating on assignments designed to be completed independently. These definitions are not exhaustive. When there is clear evidence of cheating, plagiarism, collusion or misrepresentation, a faculty member will take disciplinary action including but not limited to: requiring the student to retake or resubmit an exam or assignment, assigning a grade of zero or "F" for an exam or assignment; or assigning a grade of "F" for the course. Additional sanctions including being withdrawn from the course, program or expelled from school may be imposed on a student who violates the standards of academic integrity. Cell phones are in OFF mode during class. Cell phones are not necessary for your successful completion of this course and are disruptive to others in the class. Your class time is your time to 3
focus on class materials. Appropriate consequences will be imposed including but not limited to being asked to leave the class for the duration of that class meeting. Other sanctions will apply in the format of disruption during class and/or dismissal from the class if continued use follows. VOICES OF EXPERIENCE Economics is a demanding course. Students should spend at least two hours outside classroom for every hour spent in class. A casual read-through approach will not be sufficient since Economics is analytical rather than factual. Therefore, understanding rather than memorization is required. You may follow me very closely and may grasp good understanding of the concepts when they are presented in class. However, you do need to reinforce your acquired knowledge by further critical readings, much preferably on the same day. Without subsequent study, you will greatly diminish your chances of getting the desired grade. SPECIAL NEEDS Any student with a documented disability (e.g. physical, learning, psychiatric, vision, hearing, etc.) who needs to arrange reasonable accommodations must contact the Disability Service Office at the respective college at the beginning of each semester. Faculty members are authorized to provide only the accommodations requested by the Disability Support Service Office. CORE CURRICULUM INFORMATION: Social sciences comprise of at least 15 semester hours of each HCCS student s core curriculum. Essential to the learning process in the social sciences discipline are at least six basic intellectual competencies. They are: Reading at the college level Writing at the college level Speaking effectively Listening effectively Critical thinking for application of qualitative and quantitative skills Computer literacy The following are HCCS s stated exemplary educational objectives for its social sciences core. To employ the appropriate methods, technologies, and data that social and behavioral scientists use to investigate the human condition. To examine social institutions and processes across a range of historical periods, social structures, and cultures. To use and critique alternative explanatory systems or theories. To develop and communicate alternative explanations or solutions for contemporary social issues. To analyze the effects of historical, social, political, economic, cultural, and global forces on the subject of study. To comprehend the origins and the evolution of the U.S. and Texas political systems, with a focus on the growth of political institutions, the constitution of the U.S. and Texas, federalism, civil liberties, and human rights. 4
To understand the evolution and current role of the U.S. in the world. To differentiate and analyze historical evidence (documentary and statistical) and differing points of view. To recognize and apply reasonable criteria for the acceptability of historical evidence and social research. To analyze, critically access, and develop creative solutions to public policy problems. To recognize and assume one s responsibility as a citizen in a democratic society by learning to think for oneself, by engaging in public discourse, and by obtaining information through the news media and other appropriate information sources about politics and public policy. To identify and understand differences and commonalities with diverse cultures. OPTIONAL STUDENT STUDY TOOLS AND RESOURCES: Study Guide: The book comes with a study guide that includes: chapter summaries, practice MCQ, short answer answers and essay questions, and problems. Use it. Smarthinking: This is a web based tutoring service that you can access through the HCCS website. A live tutor can help you answer questions for homework and/or before a test, even late at night. I will announce the user name and password in class. Daily Newspapers: the periodicals can assist you in integrating what you are studying into the major economic discussion of national, state, and local government and economic issues. The Wall Street Journal Financial Times Katy, Houston, Boston, San Francisco, Atlanta Business Journals The Wealth of Nations, by Adam Smith HCC Library, All HCC libraries contain a wealth of information for your use, please make the Library system a vital part of your academic adventure. 5
The Macro Economy Today Bradley R. Schiller Summer 2017 Course Outline Date Assignment Reading Week 6/5 Introduction and Survey of Chapters 1 and 2 Scarcity, Opportunity Costs Supply, Demand and Market Equilibrium The Role of Government Exam 1 Country Project (Slides 1-4) are due 6/12 Reaction Paper 1 (RP1) Discussion and Prep Measuring National Output and National Income (GDP) Unemployment, Inflation and Long-Run Growth Unemployment, Inflation and Long-Run Growth The Business Cycle Country Project (Slides 5-8) are due 6/19 Exam 2 (Monday) Aggregate Demand and Equilibrium Output Fiscal Policy Begin Money and Banking Country Project (Slides 9 and 10) are due 6/26 Money and Banking the Federal Reserve System Monetary Policy Country Project (Slides 11-15) are due on 7/3 Chapter 1-4 RP1 Due in Class (No Exceptions) Chapter 5,6,7,8 Chapter 5-8 Chapter 13 Chapters 13-15 7/3 Review of all Class Materials 7/4 HOLIDAY (No Classes) Project Presentations Student PowerPoints Project Presentations Student PowerPoints Overall Review Chapters 1-9, 11-15 7/7 FINAL EXAM Comprehensive THE INSTRUCTOR RESERVES THE RIGHT TO MODIFY THE SYLLABUS DURING THE SEMESTER. 6