Course Syllabus
WELCOME TO Macroeconomics 2301 Professor Wanda Fuster
ECON 2301.This course will meet between Mondays, Wednesdays and Fridays from 1:06 am. To 1:56 am. in Sanger High School
Room: Auditorium
Text Book: Macroeconomics 21st. edition, Mc Connell, Brue & Flynn
Important Rules to follow:
Note: Each 50 minutes we will have a break of 5 minutes to use the restroom and drink water, in other words we would have two breaks during the class day. The Instructor reserves the right to change those rules at any time.
Warnings: Telephones, I Pads and I Phones or other electronic devices are strictly prohibited and not allowed during this class. You can make calls and text messages during the breaks only on the lobby area. The Instructor reserves the right to change those rules at any time.
Expected Behavior: I expect from my students at all times respect between peers and between students and your Instructor, this include watch your vocabulary, watch your body language and be courteous at all times. Remember this class would be a great opportunity to share and have a lot of Fun!! Be relaxed, enjoy, work diligently and learn the most that you can!!
Quizzes: For the quizzes I would provide 30 minutes to finish and turn to your instructor.
Tests: For the Mid Term and Final test I would provide 1 hour and a half to finish and turn to your instructor.
Punctuality: Please be advised that the punctuality in my class is a win situation; if you are punctual you have advantages over the ones that are not punctual.
Participation in Class: Is expected, I would like to see a courteous and respectful discussions in class, also I will be asking questions on a Socratic method. If you don't know about the Socratic Method this means about to answer the Professor (Instructor) questions shortly. I do promote a constant participation of each single student to engage in the discussion. Don't be afraid to participate in those intellectual discussions, be prepared and ready to say something meaningful. I won't be allowing any kind of critics or demonstrations of hate between peers. Should be a very soft and nice conversation back and forward between all of us. Enjoy this class it’s an Amazing one!! I can feel it...
Late Assignments: To help a student which can demonstrate that was sick or with transportation or other serious problems or a family situation I can allow to turn late assignments with proof in writing about the problem. But be aware that all of those late assignments have a 10% penalty. Example: 25 total expected points less the 10% penalty would be minus- 2.5 points possible.
Module: 1 Limits, alternatives and choices- Please read chapters 1 to 4 for our first week of classes-from the Text Book: Macroeconomics 21st. edition, Mc Connell, Brue & Flynn
Module 1: Chapter 1
1: Introduction to Economics and the Economy
Getting Started discussion board-Introduce yourself.
I-Limits, alternatives and choices
1-Scarcity and choices/purposeful behavior/marginal
2-Analysis, Comparing benefits and costs
Assignment #1: (25 points).
Consider this: Free for all.
Consider this: Fast food lines.
Quiz #1- 25 points
3-Theories, principles and models
4-Microeconomics and macroeconomics/positive and normative economics
5-Individual's economizing Problem: Limited income/Unlimited wants/A Budget line
6-Production possibilities model: Production possibilities table, Production possibilities curve, Law of increasing Opportunity costs /Optimal allocation
7-Unemployment, Growth, and the Future: A growing economy/present choices and future possibilities, A qualification international trade
***8-Graphs and Their Meaning- Instructions: The students can use their own computers to practice on how to use the excel to prepare their own graphs, after our first part of the class between 9:30 am. To 10:30 am. we would have the normal class and after 10:30 am. The instructor can allow them to practice and produce almost one graph with explanations. For this task they can use 1 one hour. Between 10:30 am. To 11:30 am. For this activity I require all the students to read the Books pages: "Graphs and Their meanings".
****Team Work: To Present in front: see the rubrics- 100 points.
****Team Work Instructions: To Present in front of the class: see the rubrics- 100 points.
1-Select a subject matter for analysis.
2-Make your research for this analysis.
3-Share the tasks for this research with your three group members in equal shares.
4-Show a graph almost two graphs for this analysis.
5-Every group would have 20 minutes for the presentation and 5 more minutes to answer the peers and Instructor questions.
6-This Group work would have a 100 points of value.
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100%
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75%
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50%
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Content
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Examples
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APA format, Times new roman, 12" a' inch on each side margin. Provide references.
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X
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Outstanding
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Provide almost a good one example
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When you submit a very well paper following the above instructions, using the APA format and provide a crisp explanation to show you master the subject.
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X
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Good
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When you work and submit an average paper.
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X
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Poor
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When you miss a good example and when you also miss the format rules.
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Module 2: Chapter 2-PartI
1-The market system and the circular flow
A-Economic systems
1-Laissez-Faire Capitalism
2-The command system
3-The Market system
Assignment #1 Module 2: (25 points).
1-Characteristics of the market system.
A-Private property
B-Freedom of enterprise and Choice
C-Self-Interest
D-Competition
4-Markets and Prices
5-Technology and capital goods
6-Specialization
7-Division of labor
8-Geographic specialization
9-Use of money
10-Active, but limited, Government
Quiz #1: Module #2
Assignment #2:
Part II- Five fundamental questions
1-What will be produced?
2-How will the goods and services be produced?
3-Who will get the output
4-How will the system Accommodate change?
5-How will the system promote progress
6-Capital accumulation
Part III-The Invisible hand
A-Efficiency
B-Incentives
C-Freedom
Part IV- The Demise of the command systems
1-The coordination problem
2-The incentive problem
Part v- The circular flow model
1-Households
2-Businesses
3-Product Market
4-Resource market
Part VI- How the Market system deals with risk?
1-The profit system
2-Shielding employees and suppliers from business risk
3-Dealing with losses
Part VII-Benefits of Restricting Business Risk to owners
Module 3: Chapter 3-part I-Wednesday June 7
1-Markets
2-Demand
3-Supply chain
4-The Demand curve
5-Changes in demand
6-Tastes
7-Number of buyers
8-Income
9-Prices of related goods
Assignment #3: Module 3
Module 3: Part II
1-The supply curve
2-Market supply
3-Determinants of supply
4-Changes in supply
A-resource prices
B-Technology
C-Taxes and subsidies
D-Prices of other goods
E-Producer expectations
F-Number of sellers
Quiz #1 Module #:3 -(25 points)
Module 3: Part III
1-market equilibrium
2-Equilibrium price and quantity
3-Changes in supply and demand and equilibrium
4-Application Government set prices
5-Price ceiling on Gasoline
6-Black markets
7-Rent controls
8-price floors on wheat
Module 4: Chapter 4-Part I
1-Market Failures: Public Goods and externalities
2-Competitive markets
3-Demand sales market failures
4-Supply side market failures
5-Efficiently functioning markets
6-Consumer surplus
7-Producer surplus
8-Public goods
Module 4: Part II
9-Private goods characteristics
10-Public goods characteristics
11-Optimal quantity of a public good
12-Demand for public goods
13-Cost benefit analysis
14-Concept
15-Illustration
16-Quasi public goods
17-The reallocation process
Module 4: Part III
1-Externalities
A-Negative Externalities
B-Positive Externalities
2-Government Intervention
A-Direct control
B-Specific Taxes
C-Subsidies and Government Provision
3-Government Role in the Economy
Module 5 Chapter#5
1-Government Economic role
2-Government right to coerce
3-Force and Economic Efficiency
4-The problem of directing and Managing Government
5-Corruption
Module 6 Chapter#6
1-Performance and policy
2-Real GDP
3-Unemployment
4-Inflation
5-The Miracle of modern economic growth
6-Savings, Investments, and Choosing between present and future consumption
Module 7 Chapter #7
1-Assessing the Economy's performance
2-Gross domestic products
3-A Monetary Measure
4-Avoiding multiple counting
5-GDP excludes non-production transactions
A-Financial Transactions
a-Public transfer payments
b-Private transfer payments
c-Stock market transactions
B-Secondhand sales
6-Two ways of Looking at GDP: Spending and Income
7-The Expenditure approach
A-personal Consumption Expenditures (C)
Module 8 Chapter #8
1-Economic Growth
2-Growth as a Goal
3-Arithmetic of Growth
4-Growth in the United States
A-IMPROVED PRODUCTS AND SERVICES
B-Added leisure
C-Other impacts
5-Modern economic growth
6-The Uneven Distribution of Growth
Module 9 Chapter #9
1-Business cycles, unemployment and Inflation
2-Phases of the Business cycle
A-At a peak
B-A Recession
C-In the trough of the recession
D-In the Expansion
3-Causation: A First Glance
Sources of shocks:
1-Irregular Innovation
2-Productivity changes
3-Monetary factors
4-Political events
5-Financial Instability
4-Unemployment
A-Measurement of unemployment
1-Part-time employment
2-Discouraged workers
B-Frictional Unemployment
C-Cyclical Unemployment
D-Definition of full employment
E-Economic cost of unemployment
1-GDP gap and Okun's Law
F-Inflation
1-Meaning of inflation
2-Facts of inflation
3-Types of inflation
4-Demand pull inflation
5-Cost push inflation
Module 10 Chapter # 10
The Income-Consumption and Income-Saving Relationships
1-The consumption schedule
2-The saving schedule
3-Nonincome Determinants of Consumption and saving
A-Wealth
B-Borrowing
C-Expectations
D-Real interests rates
Module 11 Chapter #11
1-The aggregate expenditure model
Module 12 Chapter #12
1-Aggregate demand and aggregate supply
Module 13 chapter #13
1-Fiscal policy deficit and debts
Module 14 chapter #14
1-Money banking and financial Institutions
A-The functions of money
B-The Federal Reserve and the banking system
Module 15 Chapter #15
1-Money creation
Module 16 chapter #16
1-Interest rates and monetary policy
Module 17 chapter #17
1-Financial Economics
2-Financial investment
3-Present value
Module 18 chapter #18
1-Extending the analysis of aggregate supply
Module 19 chapter #19
1-Current issues in Macro Theory and policy
2-What causes Macro instability?
A-Mainstream view
B-Changes in aggregate demand
C-Adverse aggregate Supply Shocks
D-Monetarist view
Module 20 chapter #20
1-International economics
Important dates to remember
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MID TERM TEST
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October 30,2017
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Monday
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FINAL TEST
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December11,2017
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Monday
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Wrap UP and Evaluations
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December 4th..,2017
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Monday
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HOLIDAY or Professional development
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November 20,2017
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Monday
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FINAL PROJECT PRESENTATION AND RESEARCH
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November 27,2017
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Monday
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