NORTH CENTRAL TEXAS COLLEGE COURSE SYLLABUS

 

Course Title:	Principles of Macroeconomics    PILOT POINT HS.
Course Prefix & Number:		ECON 2301	Section Number:	848	Semester/Year:	SPRING/2018
Semester Credit Hours:		3	Lecture Hours:	3	Lab Hours:	0
Course Description (NCTC Catalog): An analysis of the economy as a whole including measurement and determination of Aggregate Demand and Aggregate Supply, national income, inflation, and unemployment.  Other topics include international trade, economic growth, business cycles, and fiscal policy and monetary policy.
Course Prerequisite(s): None
McConnell, Brue & Flynn.  Principles, Problems & Policies (ebook with Connect Plus with Learn Smart 1260148769 / 9781260148763 MCCONNELL GEN COMBO LOOSELEAF MACROECONOMICS; CONNECT ACCESS CARD 21 2018 03/07/2017 1259915689 / 9781259915680 MCCONNELL Connect Access Card for Macroeconomics

 

INSTRUCTOR INFORMATION

Name of Instructor:	Professor Wanda Fuster
Campus/Office Location:	Corinth,TX
Telephone Number:
E-mail Address:	wmartinez-fuster@nctc.edu

 

OFFICE HOURS

Monday	Tuesday	Wednesday	Thursday	Friday
	8:44-10:08		8:44-10:08

 

 

STUDENT LEARNING OUTCOMES (From Academic Course Guide Manual/Workforce Education Course Manual/NCTC Catalog

At the successful completion of this course the student will be able to:
	Explain the role of scarcity, specialization, opportunity cost, and cost/benefit analysis in economic decision-making.
	Identify the determinants of supply and demand; demonstrate the impact of shifts in both market supply and demand curves on equilibrium price and output.
	Define and measure national income and rates of unemployment and inflation
	Identify the phases of the business cycle and the problems caused by cyclical fluctuations in the market economy.
	Define money and the money supply; describe the process of money creation by the banking system and the role of the central bank.
	Construct the aggregate demand and aggregate supply model of the macro economy and use it to illustrate macroeconomic problems and potential monetary and fiscal policy solutions.
	Explain the mechanics and institutions of international trade and their impact on the macro economy.
	Define economic growth and identify sources of economic growth.

 

GRADING CRITERIA

# of Graded Course Elements	Graded Course Elements	Percentage or Point Values
Test #1	Chapters  1-5	100
Test #2	Chapters 6-10	100
Midterm	Chapters 11-16	100
Final Test	Chapters 17-21	100

 

COURSE SUBJECT OUTLINE (Major Assignments, Due Dates, and Grading Criteria)

 

[instructor-specific upload]

 

ATTENDANCE POLICY

Regular and punctual attendance is expected of all students in all classes for which they have registered.  All absences are considered to be unauthorized unless the student is absent due to illness or emergencies as determined by the instructor.  It is the student responsibility to provide documentation as to the emergency for approval and judgment by the faculty member.  Approved college sponsored activities are the only absences for which a student should not be held liable and only when provided by a college official ahead of the absence.  Valid reasons for absence, however, do not relieve the student of the responsibility for making up required work.  Students will not be allowed to make up an examination missed due to absence unless they have reasons acceptable to the instructor.  A student who is compelled to be absent when a test is given should petition the instructor, in advance if possible, for permission to postpone the exam.  Student will be dropped from a class by the Registrar upon recommendation of the instructor who feels the student has been justifiably absent or tardy a sufficient number of times to preclude meeting the course’s objectives.    Persistent, unjustified absences from classes or laboratories will be considered sufficient cause for College officials to drop a student from the rolls of the College. From Board Policy FC (LOCAL)

Additional Instructor-specific Absence Policy:

Last day to withdraw from a course with a “W” is _______________.

DISABILITY SERVICES (Office for Students with Disabilities)

The Office for Students with Disabilities (OSD) provides support services for students with disabilities, students enrolled in technical areas of study, and students who are classified as special populations (i.e. single parents).

Support services for students with disabilities might include appropriate and reasonable accommodations, or they may be in the form of personal counseling, academic counseling, career counseling, etc.  Furthermore, OSD Counselors work with students to encourage self-advocacy and promote empowerment. The Counselors also provides resource information, disability-related information, and adaptive technology for students who qualify.

For support, please contact the counselors at (940) 498-6207 or (940) 668-4321.  Alternatively, students may stop by Room 170 in Corinth or Room 110 in Gainesville.

CORE CURRICULUM FOUNDATIONAL COMPONENT AREA (For classes in the Core)_______     

 

o         Communication

o         Mathematics              

o         Life and Physical Science

o         Language, Philosophy & Culture

o         Creative Arts

 

            Government/Political Science

X         Social and Behavioral Sciences

o         Component Area Option

o         American History

 

REQUIRED CORE OBJECTIVES (For classes in the Core)

 

X             Critical Thinking

X              Communication

X              Empirical and Quantitative

 

o           Teamwork

                Personal Responsibility

X              Social Responsibility

 

COURSE TYPE

o           Academic General Education Course (from ACGM but not in NCTC Core)

X          Academic NCTC Core Curriculum Course

o        WECM Course

 

STUDENT HANDBOOK

Students are expected to follow all rules and regulations found in the student handbook and published online.

 

ACADEMIC DISHONESTY

Scholastic dishonesty shall include, but is not limited to cheating, plagiarism, academic falsification, intellectual property dishonesty, academic dishonesty facilitation and collusion.  Faculty members may document and bring charges against a student who is engaged in or is suspected to be engaged in academic dishonesty.  See Student Handbook, “Student Rights & Responsibilities: Student Conduct ([FLB(LOCAL)]”. 

 

[Instructor-specific Academic Dishonesty Policy:

 

I’m expecting my student’s honest development and personal efforts to do their best. I’m here to help.

 

 

 

 

 

 

 

QUESTIONS, CONCERNS, or COMPLAINTS

Name of Chair/Coordinator:	Crystal R.M. Wright
Office Location:	Gainesville Campus, Room 824
Telephone Number:	940-668-7731, ext. 4320
E-mail Address:	cwright@nctc.edu
Name of Instructional Dean:	Dr. Bruce King
Office Location:	1525 W. California St., Gainesville, Texas
Telephone Number:	940-668-4267
E-mail Address:	bking@nctc.edu

 

 

Course Syllabus

WELCOME TO Macroeconomics 2301         Professor Wanda Fuster

ECON 2301.This course will meet between Tuesdays and Thursdays from 8:44 AM.  To 10:08 AM. in Pilot Point  High School 

Room: 101

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, The Instructor reserves the right to change those rules at any time. Also the instructor can make changes and can add more work to do during this course.

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!!

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: 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

 

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 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

Test #1:Chapters 1-5 (100 points)Date:February 15, 2018

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

Test #2: Chapters 6-10-March 8,2018

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

Midterm Test-April 12, 2018-(Chapters 11-15)

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 Trade

MODULE 21-the Balance of Payments-

Final Test: May 3^rd. 2018-(Chapters 16-21)