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GCC ECN 211 - ECN 211 SYLLABUS

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SYLLABUS - MACROECONOMIC PRINCIPLES (ECN 211) SPRING, JANUARY 18 – MAY 13 2011  Class Number: 20151. Class Section: 0007. GCC Main CL 15. TR: 11:30AM – 12:45PM ECONOMICS DEPARTMENT http://www.gc.maricopa.edu/socsci/econ/index.htm (623) 845-3685 A. BASIC INFORMATION Adjunct Instructor: Voxi Heinrich AMAVILAH, Ph.D. Office Hours: By e-mail and/or appointment only Communication Coordinates (a) Email: [email protected], cc. [email protected] (in Subject Line put “ECN 211: then your email objective”); (b) Office: 05-101; (c) Phone: (623) 845-3685 (Ms. Brigida Banfelder) B. COURSE CHARACTERIZATION B.1. Description: A descriptive analysis of the structure and functioning of the American economy. Emphasis on basic economic institutions and factors that determine national income and employment levels. Consideration given to the macroeconomic topics of national income, unemployment, inflation and monetary and fiscal policies. Awarded Social and Behavioral Science (SB) credit at ASU. Prerequisites: None. B.2 The Goal = Competencies: Learning outcomes for this course are detailed at http://www.maricopa.edu/curriculum/D-L/072ecn211.html. In general upon completion of the course the student should be able to define, describe, and explain (a) major economic concepts, (b) measures of the performance of both real and money macro-economies of the USA and the world, (c) how economic fluctuations emerge and affect the potential (natural) economy, and (d) what and how economists propose to deal with economic fluctuations and their effects. In pursuing the general goal of the course emphasis is placed on the economic education and literacy, rather than the training (how-to), aspects of learning. B.3. Reading Materials, and Reading: The required textbook is Macroeconomics, Third Custom Edition for Glendale Community College (Robin Bade & Michael Parkin, Pearson Custom Publishing, 2009). Other editions of the same textbook are also fine to use as long as the student is aware of the differences. Reading is a key course requirement – meaning that students are expected to read before each class meeting, keep up with all required readings, and come to class ready to answer and ask questions. B.4. Coverage: The course covers 17 chapters and one handout (Lecture 3), all grouped into four broad parts as the class schedule below shows. To cover that much ground requires finishing more than one chapter a day using lecture-style instruction. A lecture is an organized talk that lasts one hour or more, and hence, the interactivity of each lecture depends on class size, and student participation and interests. A lecture is neither a discussion group nor a lab; for the most part the lecturer comes to class ready to talk, and will most likely continue to talk unless students ask questions and make comments. B.5. Schedule: The schedule is outlined next below.1 Part I: Introducing (Macro)Economics: Fundamental Concepts [Weeks 1 - 3] Chapter 0 - Assessing Prior Knowledge of Economics - Quiz [10 points] – First day of class Chapter 1 – Economics: Definitions, questions, and macroeconomic ways of working and thinking Chapter 1A – Graphs in Economics: Making, using, misusing, and abusing them 1 For the academic calendar see http://www.gccaz.edu/NewsAndEvents/Calendars/2 2 Handout 1 – Economic Systems Chapter 2 – The U.S. and Global Economies Chapter 3 – The (Macro)Economic Problem Chapter 4 – Demand and Supply ♦ Test 1: In-class – [100 points] Part II: Key Measures of the Macro-economy [Weeks 4- 5] Chapter 5 – Gross Domestic Product (GDP) and the Standard of Living (SOL) Chapter 6 – The Consumer Price Index (CPI) and the Cost of Living (COL) Chapter 7 – Employment and Unemployment ♦ Test 2: Take-home – [60 points] Part III: The Real and Money Macro-economies [Weeks 6 - 9] Chapter 8 – Potential GDP and Natural Unemployment Rate Chapter 10 – Investment, Saving, and the Real Interest Chapter 9 – Economic Growth Chapter 11 – The Monetary System Chapter 12 – Money, Interest, and Inflation ♦ Test 3: TBA – [100 points] Part IV: Macro-economic Analysis and Policy [Weeks 10 - 15] Chapter 13 – AS-AD and the Business Cycle Chapter 14 – Aggregate Expenditure (We may skip this) Chapter 15 – The Short-run Policy Tradeoff (We may skip this) Chapter 16 – Fiscal Policy Chapter 17 – Monetary Policy ♦ Test 4: Take-home – [120 points] COURSE POLICIES The class will be conducted in accordance with the policies as set out in the Student Handbook. Following below are a few highlights. C.1. Tests and Testing The following activities determine course performance (grade): C.1.a. One Quiz (10 points): There is a one-time, 10-minute quiz on the first day of class to assess the student’s prior knowledge of economics. The quiz is required; it adds 10 points towards course grade. C.1.b. 2 Summaries (2 x 25 = 50 points): Every student in the course is required to write full and complete summaries of Chapters 3 and 4 of the course textbook. The summary should have two elements: (a) a statement of facts that defines, describes, and explains the subject matter of the chapter, and (b) a statement of opinion that passes judgment on any or all aspects of the chapter that the student found interesting, confusing, etc. The summary can be one to two page long. It must be typed. C.1.c. Two Homeworks (2 x 15 = 30 points): There are also two homework assignments; one on graphs (Chapter 1A) and the other on demand and supply (Chapter 4). C.1.d. Four Tests (380 points): There are four non-cumulative tests, scheduled at the end of each major section. Tests 1 and 3 are worth 100 points each. Test 2 counts for 60 points. Test 4 is 120 points and has two parts. The first part of Test 4 consists of competency questions taken from any part of the course (20 points). The second part of Test 4 consists of multiple-choice questions (100 points). In total, 1 Quiz + 2 Summaries + 2 Homework + 4 Tests = 10 + 50 + 30 + 380 = 470 points.3 3 Unless prior notification is made, all work turned in late loses 5% of its value per meeting day up to five meeting days after the due date. In other words, the highest possible score for work that is five meeting


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GCC ECN 211 - ECN 211 SYLLABUS

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