Economics of Social Issues – Spring 2012 - Economics 2337-001 MWF 9:00 – 9:50 Room 241 Business Building Instructor: Ronnie Liggett, MBA, CPA Office: 318 Business Bldg. Office Hrs: MWF 11:00-12:00, (and by appointment) Phone: Office (817) 272-2635 Mailing Address: Economics Dept., Box 19479, UTA, Arlington, TX 76019 E-mail: [email protected] Material Required: Text: The Economics of Public Issues, 17th Ed., Miller Handouts / Blogs / Misc Web Readings will also be assigned. Course Goal and Content : The goal of this course is to use economics as a window to observe social behavior and analyze pertinent social issues. A broad range of issues will be addressed to facilitate an understanding of the role of economics and its relationship to cultural development and social policies. In addition, class time will be spent discussing relevant current issues which arise, whether economic, social, or political. Attendance: Roll may be taken at each class. Students are expected to attend and participate in discussions. A seating chart will be used. If you regularly miss class, I will assume that the class is not very important to you. In addition, there will be a significant amount of material provided through lecture notes during class. You are responsible for these lecture notes. A note on class discussions – be aware that certain topics and issues may be controversial and stir the emotions of some students. Accordingly, please show respect for your fellow students and instructor, and refrain from soapbox displays. Testing: Test format will generally be a combination of multiple choice, true-false, and short answer. Students will be expected to show some competency in organizing and presenting short answer material. In addition, some graphing will be required. Scantrons will be required – Form 882E. Student Learning Outcomes: The student will be able to explain and discuss the course content as noted in the course and subject outline and demonstrate their knowledge of course material through examinations, quizzes, and class discussions. Grading: Tentative Dates Chapters Expected To Be Covered (TENTATIVE 12/20/11) Test 1 - 100 pts 2/10 1-6, Supply / Demand Test 2 - 100 3/7 7-13, Understanding Recessions Test 3 - 100 4/9 14, 18-23 Test 4 - 100 - FINAL EXAM 5/9 (8am) 24-30, Econ of Crime The above is in addition to lecture notes and handouts. Total Possible Points = 400 A = 90-100% B = 80-89% C = 70-79% D = 60-69% F = 59% and below Course Breakdown: The above is a tentative schedule of material for each test. This schedule is subject to change. In addition, outside material may be assigned and/or discussed in class. The student will be responsible for this material. Other Course Content and Objectives: In various ways, the course will incorporate use of the basic intellectual competencies, i.e. – reading, writing and expression, speaking, listening and absorption of ideas, and critical thinking. Additionally, on a smaller scale, some computer literacy may be beneficial in the research and acquisition of additional information for topic areas appealing to the student or assigned by the instructor. The course will also examine and critique economic systems as they pertain to public policy and the current social and political environment as well as the historical development of some of these policies with a focus on possible solutions to issues of concern. General Course Outline of Topics and Material: The Foundations of Economic Analysis / Basic Principles & Laws 1. Bureaucratic Decisions – FDA, Regulations, and their Impact on Market Behavior. 2. The Economics of Oil Spills 3. Supply & Demand Topics – (Introduction to Supply / Demand) 4. Wealthy Nations 5. Other Topics The Business Cycle / More Supply & Demand and Labor Markets 1. Understanding Employment & Recessions – Economic History, What is a Recession? 2. Scarcity – Water Use 3. Price Controls – Rent Control & Minimum Wage 4. Smoking & Smuggling 5. Women in the Workforce 6. Immigration Issues Fiscal Policy and Macro Issues 1. Government Spending 2. Tax Issues – Exa. The Myths of Social Security, Tax Structure in America 3. National Debt Issues4. Health Care Reform 5. Mortgage Crisis 6. Oil / OPEC/ Cartels 7. Graying of America International Issues / The Environment / Crime 1. Economics of Crime & Punishment 2. International – Exa. The Opposition to Free Trade, Understanding Free Trade 3. The Environment – Exa. The Trashman Cometh, Greenhouse Economics and Smog Important Dates: January 16 – MLK Holiday January 17 - First Class Day (1/18 first day for MWF Class) March 12-16 – Spring Break March 26-30 – Business Week March 30 – Last Day to Drop May 4– Last Class Day Before Final Exam Week Student Learning Outcomes: The student will be able to explain and discuss the course content as noted in the course and subject outline and demonstrate their knowledge of course material through examinations, quizzes, and class discussions. More specifically, the student will be able to: employ the methods that economists use to investigate market outcomes, use and critique alternative theories of the macroeconomy, develop and communicate alternative explanations or solutions for contemporary social issues such as poverty and unemployment, differentiate and analyze historical evidence (documentary and statistical) and differing points of view, analyze, critically assess, and develop creative solutions to public policy problems such as inflation, and recognize appropriate information sources for data about the state of the economy. Extra Credit: Generally there is no formal extra credit. On occasion I might give a pop quiz with greater value, a pure extra credit quiz, or some other assignment. These are unannounced and might occur at anytime. There is NO MAKE-UP should you miss these. Disclaimer Regarding Syllabus: I reserve the right to make changes to the syllabus as the semester progresses. Students are responsible for being aware of these changes. Make-up Exam Policy: All students are expected to take the tests at the assigned time (not early or late). If for some reason you must miss a test, you should notify me beforehand. Make-up tests are for extenuating circumstances only. If a make-up is approved by the instructor, it will be given AT THE END OF THE SEMESTER EITHER THE WEEK BEFORE FINAL