Economics 205-601 Online for Spring 2012 This is the syllabus for my spring 2012 course. We will not be using the dotlearn.com text site materials as mentioned in this syllabus for fall. I will have a fall 2012 syllabus soon. The general grading scheme with problem sets and tests though will be the same as seen below in the spring 2012 syllabus. Fundamentals of Economics. Mr. Andy Nowel Office Location: 2150 Nelson Hall Email: andy_nowel@ncsu.edu Office Hours: By appointment. Required Course Text: "Economics, e7", by David Hyman. Online text- cost $54.75 plus tax Course objectives: This course covers the introductory principles of micro and macroeconomics. Taken from the course catalog, the course specifically covers the fundamental ideas in economics: scarcity, substitution, opportunity cost, marginal analysis, gross domestic product, real and nominal magnitudes. Supply and demand analysis. Microeconomic analysis of pricing in competitive and noncompetitive markets. Macroeconomic analysis of production, employment, the price level, and inflation. Monetary and fiscal policy and the stabilization of the economy. Comparative advantage and international trade. After completing this course, a student should understand the workings of a free market economy and how individuals, firms and societies make profitable decisions to best fit their needs. In addition, a student should be able to understand and critique newspaper article events and commentaries about the economy. Grading Percentages: 7 Problem Sets- 25% See due dates below in Semester Schedule Test 1-25% Must schedule to take Test 1 on either Wed, Feb 22 or Thur, Feb 23 Test 2-25% Must schedule to take Test 2 on either Wed, Mar 28 or Thur,
Mar 29 Final Exam- 25% Must schedule to take the Final Exam on either Wed, May 2, Thur, May 3, or Fri, May 4 The deadlines cannot be extended nor can make up opportunities be given for Problem Sets. Please consult the semester schedule carefully for due dates as the online Problem Sets will be open in 2-week intervals and due every other Friday at 1pm. Be sure to start your problem sets early as you may retake them as many times as you wish until the deadline. Read the information about online Problem Sets below in the syllabus. If for any reason you miss test 1 or test 2, the weight of that test will be added to the final exam. Thus there are no make-up tests for either test 1 or test 2 as the final exam grade will count for any missed test for any reason. If you take both tests, you will have the opportunity to replace your lowest test score with the score you receive on the final, assuming the final exam score is higher. Remember though if you miss a test, the final exam score will automatically replace the missed test score. Read the information below carefully regarding tests and mandatory scheduling of tests and the final exam below in the syllabus. Online Problem Sets: For each of the 7 reading assignments, there will be a corresponding online problem set consisting of 15 multiple choice questions. You may take each problem set on your own computer as many times as you wish once it is open, up until the deadline found in the semester schedule below. After submitting a problem set online, you will automatically be given your score by clicking on the View Results button in your online course locker, though you won t know which particular questions you have answered incorrectly. Given that you can answer and submit the online problem sets as many times as you wish up until the due date, it is in your best interest to start these early in order to have an opportunity to resubmit as many times as necessary in order to obtain all correct answers. You may complete and resubmit the answers to each of the problem sets as many times as you choose, up until 1 pm of the date due by clicking on the My Locker button and clicking on the Get Assignment button to reopen and retake the assignment. Your last submission will be the one that will count toward your grade. Remember, while you will know the number of questions you answered incorrectly after each submission, you won t know which specific questions you have answered incorrectly. A few days after the problem set has closed, you ll then be able to go back, click on View Results, then Detail, then Review Assignment, to review the answers to each of the questions. Students will be notified when problem set answers are available in the Messages from Instructor feature of course website. Please be aware that when you retake a problem set, the order of questions, and order of multiple choice answers to each question may be different. You are encouraged to cover the material early (read and review the online presentations), start the problem sets early, and retake as many times as necessary before each deadline to maximize your problem set grades.
Carefully viewing the online presentations and reading the text will help you correctly answer the questions in the corresponding problem sets. In the Self Quiz section of your online Study Guide, you have access to multiple choice questions as well that will be similar to those in your problem sets and tests. You ll have access to the answers to these immediately. I highly recommend all the sections of your study guide, especially this one, since the questions are similar to those you will have in your problem sets and tests. Given the format of the problem sets, to receive a grade for each problem set, you must submit your problem set by the deadline. Plan to have your final problem set submission at least 1 hour before the deadline as you will be closed out if working on a problem set at the deadline time. Your problem set score in such a situation would be the number of questions you have answered correctly. Failure to submit a problem set by the deadline will result in a 0 for that particular problem set. Scheduling Tests and the Final Exam ( The Confirmation of Test/Final Exam Scheduling and Academic Integrity Statement is due Jan 27) The 2 tests (60 minutes each) and final exam (90 minutes in length) will all be administered at one of the NCSU Distance Education Testing Facilities. There is a site in Cox Hall on Main Campus, and one on Centennial Campus. You may take your tests and final anytime when the testing center is open during the following days: Test 1 (Wed Feb 22 or Thur, Feb 23) Test 2 (Wed Mar 28 or Thur, Mar 29) Final Exam (Wed May 2 or Thur May 3 or Fri, May 4) You will find information about the testing facility, hours, locations and parking at: http://distance.ncsu.edu/testing-services/local-testing.php. Testing Centers are open on a walk in basis, or by scheduling an appt ahead of time, as your tests and final must be taken during the time frame listed in this syllabus. Please be sure to show up ahead of time on test days in case it may take a few minutes to get seated and start on your test. I highly encourage everyone to make a reservation for a specific date and time within the testing windows with the testing center to be guaranteed a spot. If for any reason you are not able to take a test, the weight of that test will be added to the final exam. If you fail to reserve a spot and for some reason cannot find a testing time while walking in to the testing center, the weight of that test also will be added to the final. Thus again please let me encourage you to reserve test times ahead of time. There are no make-up tests. Students who live outside a 50 mile radius of campus and cannot visit the Distance Education Testing Facility to take tests or the final may be able to use a proctor in their home area. All proctoring arrangements are subject to your instructor s approval. Appropriate proctoring services include local colleges and universities, and in some instances, public libraries and high schools. Proctors must have a verifiable email address (no hotmail, gmail, yahoo, AOL, etc). If the institution has a test administration fee, or if the proctor requires compensation, the student must cover the cost. Please see the
following if you meet the above and are in need of a proctor http://distance.ncsu.edu/testing-services/remote-testing.php You must contact me by January 16 if you meet the conditions for an outside proctor, and you will be subject to the same testing and final exam period as the rest of the class. The test questions will be multiple choice questions similar to those in your study guide and problem sets. The tests will be online through the dotlearn.com course website, but you will only be able to access them at the NCSU Distance Education Testing Facility. Plan to submit all the answers to your test 5 minutes before the 60 minute deadline. Once you submit your test or time expires, the answers you have given will be final. The testing facility will have scrap paper for you to use, which must be turned in to the testing facility at the completion of each test and the final. You may also bring a calculator. Any failure to comply with any of the conditions set forth in this syllabus will result in a grade of zero for any test or the final. Cheating on a test or final will result in a failing grade for the course. Viewing Reading Assignments and Online Presentations: The schedule below mentions the dates to view online chapter presentations, read the online text, and complete the online problem sets. To access the online text and online presentations, click the Class Materials button that appears at the top left of you re My Locker home page. You ll be given a table of contents. Clicking on the chapter you want will reveal sections of that chapter. Please be aware that we are not covering every chapter in the text. You are responsible for reading the material online in each chapter, and viewing the online presentation associated with each chapter. The very last section/button for the chapters we are covering will be the link for my online presentation(s) for each chapter. Each chapter will have 1 to 3 presentations to view, for a total of approximately 45 minutes of online presentation material. Be sure to view all presentations associated with each chapter. I suggest you treat the online presentations as if you are sitting in a course by having a notebook and pen in which to take notes. You may pause as often as needed while taking notes, and re-review online presentations as often as necessary. The online presentations associated with each chapter will be a summary and explanations of the topics, not just an explanation of the online text. It thus is very important to read and understand the material in the chapters, in addition to the online presentations. In the online table of contents as you are viewing the sections for each chapter, click Preview to start at the beginning of each chapter. You can also jump directly to a specific chapter section by clicking on the section name. You are required to read the contents for each chapter as assigned in the schedule above, in addition to viewing the online presentations. Remember the online presentations will be found by clicking on the last button associated with each chapter labeled View Chapter x Presentations. Semester Schedule (dates subject to change):
Monday, January 9: Read and view the online presentations for chapters 1, 2 which correspond to Problem Set 1. Problem Set 1 available online (Jan 20 at 1pm is deadline to submit). The problem sets will always be questions from the corresponding chapter readings and online presentations. Friday, January 20: Deadline to submit Problem Set 1 at 1 pm. Read and view the online presentations for chapters 3, 4, 6 which correspond to Problem Set 2. Friday, January 27: Deadline to submit The Confirmation of Test/Final Exam Scheduling and Academic Integrity Statement. Friday, February 3: Deadline to submit Problem Set 2 at 1 pm. Read and view online presentations for chapters 8, 9 which corresponds with Problem Set 3. Friday, February 17: Deadline to submit Problem Set 3 at 1 pm. Read and view online presentations for chapters 10, 11, 12, 13 which corresponds with Problem Set 4. Wednesday, February 22 Thursday, February 23: Test 1 on material from online presentations and readings from chapters 1, 2, 3, 4, 6, 8, 9. (You must take your test at the testing facility during their open hours during this window.) Friday March 2: Deadline to submit Problem Set 4 at 1 pm. Read and view online presentations for chapters 21, 22, 23, 24, 25 which corresponds with Problem Set 5. Friday, March 23: Deadline to submit Problem Set 5 at 1 pm. Read and view online presentations for chapters 28, 29, 30, 31 which corresponds with Problem Set 6. Wednesday, March 28 - Thursday, March 29: Test 2 on material from online presentations and readings from chapters 10, 11, 12, 13, 21, 22, 23, 24, 25. (You must take your test at the testing facility during their open hours during this window.)
Friday, April 6: Deadline to submit Problem Set 6 at 1 pm. Read and view online presentations for chapters 32, 33, 35, 36 which corresponds with Problem Set 7. Friday, April 20: Deadline to submit Problem Set 7 at 1 pm. Wednesday, May 2 Friday, May 4 (You must take your final at the testing facility during their open hours during this window.): Final Exam Academic Integrity: Students are required to comply with the university policy on academic integrity found in the Code of Student Conduct at http://www.ncsu.edu/policies/student_services/student_discipline/pol11.35.1.php Students are not to work together on assignments or tests. Students who complete work that is not their own will be subject to a failing grade in the course. Students must submit the The Academic Integrity Statement and Confirmation of Test/Final Exam Scheduling by January 27 as mentioned above. Students with Disabilities: Reasonable accommodations will be made for students with verifiable disabilities. In order to take advantage of available accommodations, students must register with Disability Services Office located at 1900 Student Health Center. Students must also bring documentation of verifiable disabilities to discuss with the instructor at the beginning of the semester. For more information on NC State's policy on working with students with disabilities, please see the Academic Accommodations for Students with Disabilities Regulation at http://www.ncsu.edu/policies/academic_affairs/courses_undergrad/reg02.20.1.php Grading Scale: Grading will be +/- on a 10 point scale. No grade curving, individual extra credit or end of semester re-weighting of grades will be given. A+ 98-100 A 92-97.9 A- 90-91.9 B+ 88-89.9 B 82-87.9 B- 80-81.9 C+ 78-79.9
C 72-77.9 C- 70-71.9 D+ 68-69.9 D 62-67.9 D- 60-61.9 F below 60 Course/Textbook Outline- We Will be Covering the Following Chapters and Topics from the Online Text: 1. Chapter 1 Economics: What s It All About Problem Set 1 corresponds with these chapters Chapter 2 Production Possibilities and Opportunity Cost 2. Chapter 3 Market Transactions: Basic Supply and Demand Analysis Problem Set 2 corresponds with these chapters Chapter 4 Using Supply and Demand Analysis Chapter 6 Elasticity of Supply and Demand 3. Chapter 8 The Business Firm: A Prologue to the Theory of Market Supply Problem Set 3 corresponds with these chapters Chapter 9 Production and Cost 4. Chapter 10 The Profit-Maximizing Competitive Firm and Market Supply Problem Set 4 corresponds with these chapters Chapter 11 Long Run-Supply in Competitive Market Chapter 12 Monopoly Chapter 13 Monopolistic Competition and Oligopoly 5. Chapter 21 Gross Domestic Product and the Performance of the National Economy Problem Set 5 corresponds with these chapters Chapter 22 Business Cycles, Unemployment, and Economic Growth Chapter 23 The Price Level and Inflation Chapter 24 Aggregate Demand and Aggregate Supply Chapter 25 Aggregate Demand-Aggregate Supply Analysis of Economic Fluctuations and Growth 6. Chapter 28 The Functions of Money Problem Set 6 corresponds with these chapters Chapter 29 The Banking System Chapter 30 The Federal Reserve System and Its Influence on Money and Credit Chapter 31 Stabilization of the Economy through Monetary Policy 7. Chapter 32 Stabilization of the Economy through Fiscal Policy Problem Set 7 corresponds with these chapters Chapter 33 The Federal Budget, Government Debt, and the Economy
Chapter 35 International Trade Chapter 36 The Economics of Foreign Exchange and the Balance of International Trade