INTRODUCTION St. Petersburg College Department of Social and Behavioral Sciences Principles of Macroeconomics Fall 2017 ECO2013 Wednesday 7:00-9:40 pm Instructor: Patrick Luce E-mail: Luce.Patrick@spcollege.edu Classroom: UP 233 Phone: 508.259.0429 Office Hours: By Appointment Course Outline. This is a course in economic principles involving the overall operation of the market economy. Particular attention will be given to the effects of aggregate demand and aggregate supply on the levels of output, employment, and prices. The course will also examine how fiscal and monetary policy may be used in dealing with macroeconomic problems such as unemployment, inflation and economic fluctuations. Course Goals. Economics is primarily a method of reasoning used to form judgments regarding economic issues faced today. At the end of the term you should be able to make logical economic arguments as well as analyze the appropriateness of alternative arguments based on the analysis developed in this course. Specifically you should be able to: Define the terms and concepts economists use to describe macroeconomic phenomena and market economy. Understand the effects of aggregate demand and aggregate supply on the levels of output, employment, and prices. Evaluate the different types of fiscal and monetary policy tools. Demonstrate knowledge of basic theories of macroeconomics. Principles of Macroeconomics -1- P. Luce
KEY INFORMATION Required Software and Recommended Textbook. 1. Foundations of Economics (2014), 7 th edition, by Robin Bade and Michael Parkin, Pearson Education Inc., ISBN 9780133578430. 2. Supplemental Reading as assigned 3. Wall Street Journal (Optional) For Student Subscription go to: http://www.wsj.com/studentoffer Attendance. There are three mandatory dates in which attendance will be recorded: Week 1, Week 2, and the 60% point of the term. If absent during any of these meetings, the student will be administratively withdrawn. It should be noted that attendance is not mandatory aside from the aforementioned dates; however, there will be periodic quizzes and in-class group projects that will require participation for credit. MyCourses. MyCourses will be utilized primarily to provide access to the course materials and out-ofclass communication. As such, the course web site will include an online gradebook, as well as announcements of key dates. If you don't have internet access at home, be sure to use the computers available on campus. Academic Accommodations. St. Petersburg College recognizes the importance of equal access to learning opportunities for all students. Accessibility Services (AS) is the campus office that works with students who have disabilities to provide and/or arrange reasonable accommodations. Students registered with AS, who are requesting accommodations, are encouraged to contact their instructor by the first week of the semester. Students who have, or think they may have, a disability (e.g. learning disability, ADD/ADHD, psychiatric, medical/orthopedic, vision, and/or hearing), are invited to contact the Accessibility Coordinator (AC) that serves your campus for a confidential discussion. To find your AC for your specific campus, please go to the college-wide Accessibility Services website: https://www.spcollege.edu/accessibility Academic Honesty Policy. St. Petersburg College expects students to adhere to its honor code to uphold academic integrity. This policy can be found online at www.spcollege.edu/academichonesty. These rules and procedures will be strictly enforced and any violation may result in academic and disciplinary action, up to and including expulsion from the College. Principles of Macroeconomics -2- P. Luce
EVALUTATION A. Exams. There are three exams. Exams will be given on the following dates: Mid-Term Exam I: September 13, 2017 Mid-Term Exam II: October 18, 2017 Final Exam: December 6, 2017 B. Quizzes. There will be in-class quizzes given randomly and announced in class at least one lecture in advance. All quizzes will be multiple choice, closed book, and closed notes. There will be no make-up quizzes. C. Homework. Working through the assigned homework problems is the key to obtaining a full comprehension of the material. There will be homework assignments given throughout the semester. The purpose of the homework is to begin working with the conceptual material presented in the lectures. Homework problems will be assigned one week prior to the due date. Late assignments will not be accepted. D. Projects. There are four scheduled in-class group projects which will be graded on participation. Note that attendance will be necessary to receive credit. E. Student Survey of Instruction. Completed course perception survey is due to me prior the completion of the course. This will become available online during Week 11. Your student survey of instruction is due to me, by email, by Friday December 1 st. F. Calculation of Final Grade. Final grades will be calculated as follows. Percent Mid-Term Exam I 25 Mid-Term Exam II 25 Final Exam 25 Quizzes 10 Homework 10 Projects 5 Complete Course Perception Survey 1 G. Other. There will be no make-up exams. Grading Scale. POINT RANGE FINAL COURSE GRADE 90-100 A 80-89 B 70-79 C 60-69 D <60 F Principles of Macroeconomics -3- P. Luce
CLASSROOM EXPECTATIONS AGREEMENT By participating in this course, we have all tacitly agreed to the following: Student Expectations of Faculty Faculty Expectations of Students Count on us to: Count on us to: Count on us to: Treat all students equitably Be prepared for class and with respect Come to class on time Come to class prepared Be attentive and Return work in a timely participatory fashion Hand assignments in on Honor posted office hours time Maintain open Turn electronic devices off communication regarding the during class course outline Respect others by not Provide opportunities to having real or virtual side review graded material conversations Start and dismiss class on Make arrangements to get time information from another Meet student expectations student when we miss a relative to technological class communication Leave the classroom clean Support and cooperate with Adhere to the academic student assistance services honesty policy Provide a mechanism to reduce the free-rider problem in team projects Student Expectations of Students Respect and understand everyone s right to have a positive academic experience Respect other students property Do our own work and participate in projects to the best of our abilities Respect other students cultures and opinions Be open, honest, and consistently truthful with one another Be on time, mentally, and physically prepared to participate Be cordial and friendly with all fellow students Be enthusiastic, uplifting, and supportive to all members of our group Principles of Macroeconomics -4- P. Luce
Course Outline. WEEK DATE TOPIC RELATED READING ASSIGNMENT DUE ADDITIONAL NOTES Week 1 The U.S. and Global Economies Chapter 1 & 2 Wednesday, August 16, 2017 Last day to Drop is 8/18/2017 The Economic Problem & Demand and Supply Chapter 3 & 4 Week 2 GDP: A Measure of Total Production and Income Chapter 21 Wednesday, August 23, 2017 Homework 1 Jobs and Unemployment Chapter 22 Week 3 Week 4 Week 5 Week 6 Potential GDP and the Natural Unemployment Rate Chapter 24 Wednesday, September 20, 2017 Economic Growth Chapter 25 Week 7 Week 8 Aggregate Supply and Aggregate Demand Chapter 29 Wednesday, October 04, 2017 Homework 4 Aggregate Expenditure Multiplier Chapter 30 Week 9 Wednesday, August 30, 2017 Wednesday, September 06, 2017 Week 10 Wednesday, October 18, 2017 MIDTERM 2 Week 11 The Short-Run Policy Tradeoff Chapter 31 Wednesday, October 25, 2017 Fiscal Policy Chapter 32 Week 12 Monetary System Chapter 27 Wednesday, November 01, 2017 Money, Interest, and Inflation Chapter 28 Week 13 Wednesday, November 08, 2017 Monetary Policy Chapter 33 Homework 6 Week 14 Wednesday, November 15, 2017 International Finance Chapter 34 Week 15 Wednesday, November 22, 2017 Week 16 Wednesday, November 29, 2017 Catch-up & Review In Class Group Project Week 17 Wednesday, December 06, 2017 The CPI and the Cost of Living Chapter 23 Catch-up & Review Wednesday, September 13, 2017 MIDTERM 1 Thanksgiving FINAL EXAM WEEK Homework 2 Wednesday, September 27, 2017 Finance, Saving, and Investment Chapter 26 Homework 3 Wednesday, October 11, 2017 Catch-up & Review In Class Group Project Homework 5 All homework assignments are due by 11:59 Monday night In Class Group Project Last day to Withdraw with grade of "W" is 10/19/2017 60% Attendance No Class Principles of Macroeconomics -5- P. Luce