-- over -- ECN 211, Macroeconomic Principles Glendale Community College Spring, 2012 Section 17579: TR, 8:30-9:45, CL 15 Instructor: Dr. Swint Section 17580: TR, 10:00-11:15, CL 15 Office Hours Office: 05-146 Website: http://web.gccaz.edu/~kjswint/ Office Hours Phone: None e-mail: [email protected] COURSE 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. Prerequisites: None COURSE OBJECTIVES: To provide the student with a general understanding of the operation of the market economy in which we live involving, among other things, acquiring an understanding of: 1) how markets are used to determine the availability and prices of the goods & services that we consume; and, 2) how residents of the economy participate in the production of goods & services in order to earn the income that allows them to participate in the consumption of those goods & services. The skills objectives of this introductory macroeconomics course are: thinking critically & analytically; interpreting data & statistics; using quantitative methods; reading comprehension; expression through writing; & computer literacy. TEXT: (Required Reading) Bade, Robin & Parkin, Michael, Macroeconomics, 3rd (or comparable) GCC ed., Pearson Learning Solutions, 2009. (Tentative) OFFICE HOURS: Tuesday & Thursday: 7:30-8:15 AM ATTENDANCE: Glendale Community College expects students to attend all scheduled meetings of the classes in which they are enrolled. Attendance will be recorded. Any student with more than 3 unexcused absences will have their course grade lowered by one grade category (i.e. B to B-). Severe tardiness, unauthorized early departure, and sleeping in class will be recorded as an absence. E-MAIL POLICY: E-mails (or phone calls) from students should pose questions that require only brief responses, not questions that require long and complicated responses. Discussions regarding course material that is causing difficulty should be conducted in person. CELL PHONE POLICY: Cell phones are to be turned off during class. Cell phone calculators are not permitted during exams. GUNS: Arizona state law (currently) does not allow guns on college. EXAMS: There will be 2 one hour exams & a partially comprehensive final exam (2 hours). The exams will be mostly or fully multiple choice with the possibility of essay questions &/or numerical problems. There will be 6 quizzes based on the reading assignments in the textbook. There is also the possibility of pop quizzes. Make-ups of missed exams & quizzes will require documented proof of legitimate excuses. HOMEWORK: 1. Homework problem sets will be distributed throughout the term 2. 1-2 computer homework assignments 3. A short writing assignment GRADING: Exam 1 = 23%; Exam 2 = 23%; Final = 24%; Quizzes = 15%; Homework = 10%; Writing/Computer assignment = 5% (If there is no writing assignment, Homework = 15%)ECN 211, S12, Syllabus, 2 TENTATIVE QUIZ SCHEDULE: Quizzes: Quiz 1: Thursday, Jan 26 Quiz 4: Thursday, Mar 22 Quiz 2: Thursday, Feb 9 Quiz 5: Thursday, Apr 12 Quiz 3: Thursday, Mar 1 Quiz 6: Thursday, Apr 26 TENTATIVE EXAMINATION SCHEDULE: Exam 1: Thursday, Feb 16; Exam 2: Thursday, Mar 29 Final Exams: Sec 17579 (8:30): May 10 at 8:00 AM Sec 17580 (8:30): May 10 at 10:00 AM ASSIGNMENT DUE DATES: Due dates for homework & writing assignments will be announced during the term COURSE WEB SITE (Under Construction): Lecture Outlines, Some Lecture Notes, Quiz Coverage, Old Exams, Other information, Special notices as necessary. COURSE OUTLINE (Subject to minor revision): Lecture Lecture Title Text Chapter Title Text Chapter 1 Introduction To Economics & the Methods of Economic Analysis Getting Started 1 2 Production Possibilities & the Organization of Resource The Economic Problem 3 3 Demand & Supply & the Market Mechanism Demand & Supply 4 4 Introduction to Macroeconomics The U.S. and the Global Economies 2 5 Gross Domestic Product GDP and the Standard of Living 5 6 Employment & Unemployment Jobs and Unemployment 7 7 Prices & Inflation The CPI and the Cost of Living 6 8 The Classical Model Potential GDP and the Natural Unemployment Rate Investment, Saving, and the Real Interest Rate 8 10 9 Economic Growth Using the Classical Model Economic Growth 9 10 Money Supply, Banking System, & Federal Reserve System The Monetary System 11 11 Money Demand, Money Market, & Monetary Policy Money, Interest, and Inflation 12 12 The Aggregate Demand/Aggregate Supply Model AS-AD and the Business Cycle 13 13 The Keynesian Model Aggregate Expenditure 14 14 Inflation & Monetary Policy The Short Run Policy Tradeoff Monetary Policy 15 17 15 Planned Expenditure Gaps & Fiscal Policy Fiscal Policy 16 16 Exchange Rates & Macroeconomic Policy International Finance