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

X         Academic NCTC Core Curriculum Course

         WECM Course

 

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

 

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:

 

 

 

 

 

 

 

 

 

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:	Corinth Campus, Room 305
Telephone Number:	940-498-6216
E-mail Address:	bking@nctc.edu

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Course Syllabus

WELCOME TO Macroeconomics 2301         Professor Wanda Fuster

ECON 2301.

Room:

Text Book: Macroeconomics 21st. edition, Mc Connell, Brue & Flynn

 

 

 

 

Important Rules to follow:

Note: Every 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 includes 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 every 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-Part

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

The 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:, 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 the 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-,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- -(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: -(Chapters 16-21)