JACKSON STATE COMMUNITY COLLEGE

COURSE SYLLABUS

ECONOMICS 211 GROUND SECTIONS – Principles of Macro Economics I

FALL 2008 SEMESTER      

 

 

 

 

Instructor:                     Terri Messer, Associate Professor of Economics

Office Location:            Classroom Building #148

Office Phone:                (731) 424-3520 Ext. 326

                                    800-355-5722 Ext. 326

Office Fax:                   (731) 425-9552

Campus Email:  tmesser@jscc.edu

Office Hours:                On Campus Hours:  As posted on office door. 

Course Number:           Eco 211

Course Title:                 Principles of Macroeconomics

Level and Credit:          Undergraduate, 3 Semester Hours

 

Required Text:           Economics Principles, Applications and Tools

                                    5th edition by O’Sullivan/Sheffrin/Perez including MyEconLab

ISBN:  0-13-223565-X :  You MUST purchase both the textbook and MyEconLab access code.

 

 

 

I.  Course Description:

A course providing for an examination of macroeconomic principles and policies.  Following an introductory overview of the U.S. market economy, emphasis is placed upon an analysis of the national income accounts; the principles of modern employment theory; the principles of money and banking; and the fiscal., monetary, and supply side policies that evolve from the application of these concepts.

 

 

 

II.  Course Learning Objectives:

At the completion of this course, the student should demonstrate the ability to:

  1. interpret economic terminology as used in textbooks, newspapers, and periodicals.
  2. identify the basic economic problems that are common to all economic societies.
  3. explain the roles that prices and markets play in organizing and directing economic activity.
  4. analyze the market forces of supply and demand with respect to their performance in the U.S. economy.
  5. measure and interpret the nation’s economic performance by use of traditional economic analysis.
  6. assess how financial policies of the various sectors of government impact the performance of the total economy.
  7. infer the functions that money performs for a modern economy
  8. identify the historical development of the various monetary standards used by the U.S. economy.
  9. appraise the current framework and functions performed by the U.S. Federal Reserve System.
  10. analyze the fundamental theory of fractional reserve banking as utilized by the U.S. economy.

 

 

 

III.  Topics To Be Covered and Referenced Text Material:

O’Sullivan Text, 5th Edition Contents Breakdown

Economics 211 – Macro

 

UNIT 1   Introduction and Key Principles

Topic #                                                                                                  Referenced Text Chapter

   1           Introduction: What is Economics?                                                   1

   2           The Key Principles of Economics                                                     2

   3           Public Good and Public Choice                                                         30* 

   4           Demand, Supply, and Market Equilibrium                                       4

UNIT 2   The Basic Concepts in Macroeconomics

  5            Measuring a Nation’s Production & Income                                  5

  6            Unemployment & Inflation                                                 6

UNIT 3    Economic Fluctuations

  7            Aggregate Demand & Aggregate Supply                                       9* 

  8            Fiscal Policy & Macroeconomic Policy Debates                            10 and 17

  9            The Income-Expenditure Model                                                        11

UNIT 4  Money, Banking, and Monetary Policy

  10          Money and the Banking System                                                       13*

  11          The Federal Reserve and Monetary Policy                                     14

  12          The Dynamics of Inflation and Unemployment                              16*         

UNIT 5 Economics Growth and Poverty

  13          Why Do Economies Grow?                                                                8*

  14          The Labor Market, Income, and Poverty                                         32*

                                                                                                                (Note out of sequence chapters)

 

VI.  Grading:                                            Points                                 Approximate % Overall Grade                       

                Exam 1                                        100                                      15.4% overall grade                            

                Exam 2                                        100                                      15.4% overall grade                            

                Exam 3                                        100                                      15.4% overall grade                            

                Exam 4                                        100                                      15.4% overall grade                            

Final Exam                                 100                                      15.4% overall grade                            

                MyEconLab Assignments      100                                     15.4% overall grade

                Outside Reading Articles         50                                      7.6% overall grade

                Total Points Available             650

 

Grading Scale:

A = 90 - 100

B = 80 – 89

C = 70 - 79

D = 60 – 69

 

 

V.  MyEconLab Instructions:  This is required for assignment submissions.

By purchasing a new O’Sullivan textbook, Economics, 5th edition, you received an “Access Code” to an accompaniment study program we will be using this semester:  MyEconLab.  Please follow the directions to “add” yourself to the course I have set up:

Go top on left hand tool bar, choose New User, Students.  From there follow the directions as prompted inputting your course Access code when requested.  The Author for this text is O’Sullivan; we are using “MyEconLab” (not MyEconLab with Course Compass); enroll in your Eco 211 section ____.  You will then be directed to a screen to install a Plug Installation Wizard.  This program is safe and only takes a few moments to install on most systems.  From there, you’ll see my welcome note and the Assignment Listing on the right tool bar.  The interactive assignments count for 15% of your overall course grade and must be completed my midnight prior to the relevant unit exam.  You are allowed multiple attempts at correct question submissions and this learning tool should prove to be a vital course enhancement.  Pay close attention to the “Calendar” for firm ‘last chance’ dates.

***IF YOU CHOOSE TO PURCHASE A USED TEXTBOOK VIA AN ALTERNATE ONLINE RESOURCE, YOU WILL STILL BE REQUIRED TO PURCHASE THE “MY ECON LAB’ ACCESS CODE THE FIRST TIME YOU LOG INTO THAT PROGRAM.  THE COST FOR THE ACCESS CODE ALONE IS APPROXIMATELY $40.  THIS PROGRAM IS REQUIRED TO SUCCESSFULLY COMPLETE ALL ONLINE ASSIGNMENTS, ETC.

 

VI. Current Outside Reading Articles

You will be required to review five magazine articles throughout the semester – one per unit material.  The purpose of this graded item is to encourage correlation between conceptual, textbook material to current, real world economic events. The rubric for this item is as follows:

  1. Each review must be at least one page typed, double spaced using 12 font following the standard MLA format. 
  2. Each unit periodical review is to be turned in to the instructor no later than the exam day, and time period, of that relevant unit exam.  I allow NO late submissions of this work – NO EXCEPTIONS!  
  3. The minimum review requirements:
    1. Title of article, author, periodical source and issue date.
    2. The source of the review is open to any current magazine article within the past three months.  The article should address any of the specific economic topics covered during the unit.
    3. You should provide a summary/paraphrase of the relevant facts/opinions of the article’s author.
    4. You should also provide a personal analysis/response to this article as the topic relates to our classroom discussions.

 

VII. Attendance:

In the Business Department of Jackson State Community College, our objective is to not only advise you of the text material you will need to be successful in the "real" business world, but to aid you in developing good work ethics as well.  One of the main areas of concern for companies today is how to encourage good attendance and punctuality.  

Attendance in this course is not mandatory but highly encouraged. The student is held accountable for information provided in class discussions, etc. 

If a student does portray a "good work ethic" by having perfect attendance, two additional points will be added to the final course grade. (You do the math!)

 

VIII. Make-Up Exam Policy:

Every effort is made to adhere to the Tentative Course Timeline to follow that denotes the expected weekly topic of study, including exam weeks.  If, for some “great” reason, you must be absent the day of a scheduled exam – IT IS YOUR RESPONSIBILITY TO CONTACT ME IMMEDIATELY BEFORE, OR AFTER, THE SCHEDULED EXAM to explain your situation.  My JSCC email, D2L email and campus phone numbers are available on this document.  If your ‘situation’ is accepted as reasonable, you will be allowed to take a make up exam but not until the final class day of the semester. 

 

IX. Academic Honesty:

Students are expected to conduct themselves at a high level of academic integrity.  A copy of the JSCC Academic Honesty Statement can be found in the current catalog.  Please review and adhere to this policy.

 

X. ADA and Honesty Policies

a.        Jackson State will make reasonable accommodations for persons with documented physical, mental or learning disabilities.  Students should notify their instructor and the Coordinator of Disabled Student Services – located in the Counseling Office, Room 12 of the Study Union Building – of any special needs.  Instructors should be notified the first week of class.  All discussions remain confidential.

b.       Academic Honesty Policy is listed on page 20 of the current Student Catalog and Handbook.

 

 

 

 

XI.  Tentative Course Timeline – Fall 2008 Ground Semester (This schedule is subject to change)

Semester Week                                   Topic/Exam

8/25/08                                                  Syllabus Review & Topic 1:  Introduction to Economics

                                                                Topic 2:  The Key Principles of Economics

9/01/08                                                  Monday, 9/01/08: LABOR DAY HOLIDAY  

                                                                Topic 3:  Public Goods and Public Choice & Topic 4

9/08/08                                                  Topic 4:  Demand, Supply, & Equilibrium UNIT EXAM 1

9/15/08                                                  Topic 5:  Measuring Nation’s Income

9/22/08                                                  Topic 6:  Unemployment and Inflation

9/29/08                                                  UNIT EXAM 2 & Topic 7:  Aggregate Demand and Supply

10/06/08                                                               Topic 7 Continued and Topic 8:  Fiscal Policy

10/13 – 10/14/08                                                FALL BREAK

10/15/08                                                               Topic 9:  Income-Expenditure Model

10/20/08                                                               Topic 9 continued

10/22/08                                                               LAST DAY TO DROP FALL 2008 CLASS

10/27/08                                                               UNIT 3 EXAM & Topic 10:  Money & Banking

11/03/08                                                               Topic 10 Continued & Topic 11:  The Fed

11/10/08                                                               Topic 11 Continued & Topic 12:  Dynamics of Inflation

11/17/08                                                               UNIT 4 EXAM & Topic 13:  Why Economies Grow

11/24/08                                                               Topic 14

11/27-28/08                                         THANKSGIVING HOLIDAY                                           

12/01/08                                                               Review for FINAL COMPREHENSIVE EXAM                                             

12/03/08                                                               LAST DAY OF FALL 2008 CLASSES

12/04/08 – 12/10/08                          FINAL EXAMS – SPECIFIC DAY TO BE ANNOUNCED