Principles of Macroeconomics, ECON 272-3, CRN 30587

3 credits

Spring 2017

 

Days/Time:  MWF 1:25-2:20

Location of Class: EBH 060

Course Format: Lecture

 

 

"Condemnation without investigation is the height of ignorance."   Albert Einstein

 

 

 

INSTRUCTOR INFORMATION

 

Instructor Name:  Dr. Deborah Walker

Office Location:  EBH 184

 

Office Hours: Monday and Wednesday, 3:30-4:30; Tuesday and Thursday 2:30-4:30 and  by appointment.  I will be in my office during these days/times unless I have a meeting or other appointment I cannot miss.  In that case I will let you know ahead of time (will post it on my web site) when I will not be available.

 

NOTE:  If my office door is closed -- please knock.  The only time that I request you do not stop by my office is during the 10 minutes prior to one of my classes starting.  THANK YOU

 

Office Telephone Number:  247-7624

Cell phone Number (for short texts):  970-799-1364

E-mail address:  walker_d@fortlewis.edu

 

Please - when you e-mail me, please let me know which class you are in (for example, say you are in ECON 272 at 11:15).  If you text me, please include who you are and what class you are in. Thanks.

 

   

COURSE DESCRIPTION   

 

Economics is a way of thinking about individual action – this course will teach you to think like an economist in the hope that you will find this method of analyzing reality useful throughout your lifetime.  Students often wonder how economics is relevant to their lives.  In my biased opinion, this is the most important class you will take in college.  Why?  Because economics teaches you about the human condition.  Economists study the reasons that some people have food on their table while others do not.  It also teaches you how to think about social issues that affect your daily life.  Should you vote for a new tax or a new law that is being proposed by your city, county or federal politician?  This class will help you analyze public (government) policy issues such that you can see past the myths and misunderstandings and actually comprehend how these policies will change your life.  It will also teach you how to analyze and critically think about basic issues that will pop up in your business life.  As economists, we study individuals, markets, firms, government, and human action in general.  Economics is the study of choice (individual human action) in the broadest sense.  It is a social science and should be studied alongside many other disciplines – including history, philosophy, psychology, business, etc.  Economics is about choice and coordination and encompasses the decisions all of us make every day of our lives.  Therefore, the importance of the subject to your life cannot be overstated. 

 

I can't think of a better time to study macroeconomics!  There's a lot going on - and we will try to get to the bottom of it all. Understanding how the macroeconomic environment affects businesses is essential for successful entrepreneurs.  Topics covered include:  economic growth and development, unemployment and job creation, inflation and the Federal Reserve System, government deficits and debt, international trade and currency issues.  The course also covers the macroeconomic regulatory environment; including monetary and fiscal policy.

 

Course Catalog Description (not my favorite - but here it is):  An introductory course on national income analysis. Included are income flows, macroeconomic equilibrium, monetary and fiscal policy and balance of payments. Examination of current macroeconomic models used by the Fed and others, with current data, is explored. 

 

 

COURSE MATERIALS & RESOURCES

 

Web Page address: http://faculty.fortlewis.edu/walker_d/  (This is an important address -- all class handouts, homework assignments, study questions, etc. will be posted on this web site.)

 

Required Reading Materials - you should bring both of these with you to class every day!!

 

1.  The Economics of Macro Issues (7th ed.) by Miller & Benjamin (MB on the class outline) NOTE:  you will need to have this edition, not an old one.

 

NOTE about the authors:  Since some students will disagree with the book and therefore think it is not "scientific" or that the authors are not qualified -- both are well known Ph.D. economists.  Have an open mind in my class -- you can't learn if you are closed to all ideas that do not fit into your political world.

  

2.  My Course Packet - packaged and available at the bookstore.

NOTE:  I do not follow a textbook chapter by chapter.  The notes in this class will be very important.

 

Canvas:  The syllabus is posted on Canvas.  I will also post the grades on Canvas (http://courses.fortlewis.edu).  If you are not familiar with Canvas, please work through the Student Canvas Orientation (https://courses.fortlewis.edu/courses/6805).  For technical help with Canvas contact the 24/7 support hotline at 855-971-1611 or submit a HELP ticket to Canvas.

 

Tutoring:  Please contact the Office of Peer Education:  https://www.fortlewis.edu/peereducation/Tutoringdirectory.aspx

 

 

 

STUDENT COURSE LEARNING OBJECTIVES

 

Common ECON 272 Learning Outcomes

  • Understand the terminology used in macroeconomics;

  • Understand factors that contribute to and undermine economic growth;

  • Understand and use the basic macroeconomic variables and their relationships;

  • Understand the role of money, the monetary system and financial markets in the macro economy.

My Additional Course Learning Outcomes:

 

  • Understand and explain how markets generate knowledge, coordinate resources and create jobs and how government monetary and fiscal policy distorts this process;
  • Understand and explain how jobs are created and destroyed;
  • Critically think through the potential consequences of diverse public policy issues that impact the macro economy;
  • Analyze and understand international trade issues and business cycle issues. 

Economics Program Learning Outcomes:

            Students completing this course will:

  • Demonstrate knowledge in the field of study:

    a. Objective 1 - Knowledge of the principles of economics.

    b. Objective 2 - Knowledge of the definitions and terms used in macroeconomics.

  • Employ analytical and/or quantitative tools to critically analyze economic events and policy:

    a. Objective 1 - Apply the concept of opportunity cost when analyzing economic outcomes.

    b. Objective 2 - Determine possible economic outcomes of a government policy.

  • Utilize appropriate channels of communication to effectively convey economic analysis conclusions.

Liberals Arts Core Learning Outcomes:

This course has a SS1 designation and satisfies the Social Science requirement of the Liberal Arts Core.  SSI courses are intended to “help students acquire a foundational understanding of the social sciences while gaining insight into contemporary issues and problems.” 

  • Students apply intellectual and practical skills to think critically and communicate effectively.

  • Students gain skills necessary to be engaged and contributing members of a local and global society.

  • Students integrate knowledge and skills and apply them to new settings and complex problems.

Signature Assignment for addressing these learning outcomes is a Macro Policy Analysis Paper (worth 100 pts. or approximately 10.5% of the grade) - see below for details.

Colorado Commission on Higher Education Student Learning Outcomes for SS1, Critical Thinking and  Civic Engagement:

gtPathways - This course meets the required content and competency student learning outcomes for the GT Pathways Category SS1 and will transfer among all Colorado public higher-education institutions.  For more information on the GT Pathways program, go to http://highered.colorado.gov/academics/transfers/gtpathways/curriculum.html

With respect to critical thinking, students should be able to:

1. Explain an Issue

a. Use information to describe a problem or issue and/or articulate a question related to the topic.

2. Utilize Context

a. Evaluate the relevance of context when presenting a position.

b. Identify assumptions.

c. Analyze one’s own and others’ assumptions.

3. Understand Implications and Make Conclusions

a. Establish a conclusion that is tied to the range of information presented.

b. Reflect on implications and consequences of stated conclusion.

 

With respect to civic engagement, students should be able to:

1. Civic Knowledge

a. Connect disciplinary knowledge to civic engagement through one’s own participation in civic life, politics, and/or government.

Signature Assignment for addressing these learning outcomes is a Macro Policy Analysis Paper (worth 100 pts. or approximately 10.5% of the grade) - see below for details.

COURSE REQUIREMENTS AND GRADING POLICIES

Course Assessment Tools:

 

Exams (including definitions, multiple choice questions, essay questions, graphical analysis, analytical problems), homework assignments (including definitions, multiple choice questions, essay questions, graphical analysis, analytical problems), in class exercises, and reading quizzes.

 

Course Policies:

 

Attendance Policy:  I will take attendance.  Part of your grade will be based on attendance and class participation (mostly attitude – see below).  If you have not attended class on a regular basis, I will take that into consideration when I am determining your final grade.  It has been my experience that some students think they don't have to come to class to pass -- this might be true, but I believe you are here at Fort Lewis to learn how to think for yourself and to learn how to be a responsible human being.  Coming to class is an important part of that learning/maturing process.  Therefore, if you don't think you will choose to come to class on a regular basis, please drop now.  I want serious, responsible students who want to learn in my classes.

 

Specifically:  You have three "free" absences (this includes the first day of class if you are on the roster.  Your "free" absences should be used for days when you are sick, in court, going to a wedding, funeral, family reunion, picking up your mom from the airport, etc. - use your "free" absences wisely.  E-mailing me and telling me you don't feel well and won't be in class does not excuse your absence.  Once you miss 4 classes, 20 points will be deducted from your total points.  For every absence thereafter 10 points will be deducted from your total points. 

 

Note:  Every three times you are late and/or you break a rule listed in the syllabus (see below under attitude problems) = one absence.   Also - coming into class more than 10 minutes late or leaving the class more than 10 minutes before the end of the class (or during class) will count as an absence for that day. 

 

If you have extenuating circumstances that keep you from coming to class you need to let me know and you might not be counted absent -- if you have evidence to back up your claim.  An example of an extenuating circumstance is having to have an emergency operation to remove your appendix.  Having to go to court or a family reunion are NOT extenuating circumstances.   

 

Points might also be deducted because you looked at or used your cell phone or iPad (or any other such device) during class and/or because of other attitude problems (see below).  Leaving and returning to the class while it is being held will result in an absence.  GO TO THE REST ROOM PRIOR TO CLASS.

Disenrollment Policy:  Instructors have the option (but not the obligation) to disenroll any student who misses even a single class before Thursday at midnight of the first week of classes. Please take note and make plans to attend all of your classes when the semester begins. If you are disenrolled from this class, you may re-register if space if available.

Withdrawals and Census Date Information: 

    Withdrawal from Course - The last day to withdraw from FLC classes without a record of the withdrawal is Tuesday, January 24 (Census Date) by 4 pm.  To withdraw from this course, go to the Registrar's Office, Room 160, Miller Student Services Building before the course withdrawal deadline.  They will help you through the process.  You do not need my signature on the course withdrawal request form. 

    Withdrawal after Census Date:  The deadline to withdraw from an individual course with a grade of "CW" (course withdrawal) is Friday, March 3 by 4 pm.  This is a college-wide deadline that is not negotiable.  Reminder:  Starting Fall 2013 Census date, all students have a life-time limit of three individual course withdrawals from FLC courses.  If you have withdrawn from classes before Fall 2013, these will not count towards your lifetime limit.  Also, withdrawing entirely from a semester (all classes) does not count against your lifetime "CW" limit.  Semester withdrawal is handled under a different policy and procedure.  Please refer to the Academic Policies section of the FLC Catalog of Courses for more information about course and semester withdrawal policies and procedures. 

Class Conduct Policies (Professional Expectations):

 

I will deduct points for attitude problems.  Every three times one of these rules is broken = one absence.  Attitude problems include, but are not limited to, the following:

·         Letting your politics drive your education -- not respectfully listening and discussing ideas that you do not agree with.  I don't care if you agree with any of the ideas presented in this class -- but I do care that you understand them.  After all, how can you disagree with something you don't understand?  A disrespectful attitude towards the professor or a fellow student will NOT be tolerated.

·         Getting up and leaving and returning in the middle of class.  This is college -- not grade school.  Please use the rest room and/or make your important phone calls before class begins (if you have a medical condition that requires you to leave the classroom on occasion, please let me know at the beginning of the semester and bring me the appropriate documentation).  If you are gone for more than 10 minutes during a class, you will be counted absent for that day.  If you leave during class (including during an in class exercise) I will assume you are using your phone unless otherwise communicated to me.  In class exercise time is not break time!

·         Getting up to throw something away during class.  Hold it until the class is over.

·         Consistently coming into class late - coming into class late on a regular basis is, in my opinion, very rude and disruptive to class (and is irresponsible on your part).  A few minutes late a couple of times per semester is understandable -- but coming into class late on a regular basis will not be acceptable. If you have a legitimate reason for being late to class on a regular basis, let me know at the beginning of the semester. 

·         Looking at your cell phone or listening to earphones while class is in session (this includes while taking an exam).  Please do not use any electronic devices during class.  Each time that you look at your cell phone during class will = broken rule!  You may use a calculator but not your cell phone for calculations.  See below regarding computer use during class.  Please turn off all cell phones during class (including exam days).  Use of cell phones, head phones, earphones, or any other electronic device (except calculators) is not allowed during class (this includes exam days).

·         Reading or writing material that is not related to the class or interrupting class by talking or laughing while the instructor or a fellow student is speaking.

·         Leaving class early without notifying the instructor beforehand.  If you must leave early for some reason let me know at the beginning of class.  Remember - leaving the class more than 10 minutes before the end of the class will count as an absence for that day.

·         Eating meals in class.  Snacks/drinks are fine -- but please do not bring in full meals to class.  This is very disruptive to students sitting around you and to the instructor (not to mention it distracts you as well).  FOOD Policy:  You may eat candy bars, snacks, etc. in class.  However, complete meals, sunflower seeds, tobacco or any other foods that require you to spit are not allowed in class. 

·         If your T-shirt or sweatshirt or coat, etc. has a hood, you must put the hood down during class.  Sunglasses are also not allowed in class.

 

I want to create a classroom atmosphere that is conducive to learning – respect for your fellow classmates and for the professor is necessary for this to be achieved.  If you cannot follow these classroom rules, please drop this class. 

 

 

Computer Use in Class: 

 

If you choose to use a computer to take notes or access your book while in class then the following rules apply:

 

1.  You must sit in the first row of class.

2.  You may use the computer for TWO reasons:  ONE: taking notes.  This means that there is no reason for you to be on the web or any other site during class.  I will always have the outlines posted on my web site up in front of the class - so there is no need for you to be on my web site during class.  You can copy and paste the notes from the web site into a word document and then use that document for note-taking.  TWO:  looking at your online book while discussing the chapters.  If we are not discussing the chapters, you have no reason to be looking at your book.

3.  You must sign an additional contract regarding computer use.  If you are going to use a computer, ask me for this contract.  Basically - if you break rule number two, you may never use the computer in the class again AND 50 points will be deducted from your point total for the class.

 

 

Grading Policy:  

 

Your grade will be determined as follows:

  • Mid-semester Exams:  400 points possible – 4 mid-semester exams @ 100 points each (approx. 42.2% of the grade)

  • Homework:  140 points possible (assuming 7 assignments with an average point total of 20) (approx. 14.7% of the grade) – homework assignments (this point total depends upon how much each homework assignment is worth and how many are assigned). Typically, there will be homework due almost every week).  These assignments will be posted on my web page.  See more details about homework below.

  • Macro Policy Analysis Paper:  100 points possible (approx. 10.5% of the grade) This is the signature assignment that specifically addresses the learning outcomes for the GT Pathways categories of critical thinking and civic engagement and for the Liberal Arts Core learning outcomes regarding critical thinking, communication, engagement and knowledge integration.

  • Readings Quizzes:  120 points possible (assuming 10 quizzes given) (approx. 12.6% of the grade) - I reserve the right to give short quizzes over the reading assignment periodically. Reading quizzes will be given the first 10 minutes of class.  If you are late to class you will miss the quiz and you cannot make it up - you may not take the quiz if you are more than 3 minutes late for class. See other "rules" that pertain to the quizzes below. If you take a quiz and then do not stay until the end of the class, that quiz will not count!!

  • In Class Exercises:  90 points possible (assuming 19 in class exercises) (approx. 9.5% of the class) – these points can only be earned if you are in class the day the exercise takes place AND you have your packet with you.  NOTE:  When we are doing an in class exercise that does not mean it is "break time" for you to go to the bathroom or make a phone call or whatever.  If you don't participate in an exercise, I will not give you the points.

  • Final Exam (taken during finals week):  100 points possible (approx. 10.5% of the grade) (this will be like a 5th exam so most of it will not be comprehensive, however, there will be some comprehensive questions on this exam).

  • Attitude and Attendance:  Points will be deducted for attendance and attitude problems.  Those who come to class and act like respectable human beings will keep all of your earned points!  I reserve the right to lower your grade due to a bad attitude or increase your grade due to a good attitude

Determination of Grade:

 

There are 950 points (tentative) possible for the class.  I will grade on a curve.  The person with the highest number of points in the class will set the curve.  For example, if the highest number of points earned in this class is 900 points out of 950, any student with 90 to 100% of 900 points (810-900 points) will receive an A or A- in the class; any student with 80 to 89% of 900 points will receive a B+, B or B- in the class; and so on.  An A requires 94% or higher in the class.  An A- requires 90% - 93.9%.  B- requires 80 to 83.9%.  B requires 84 to 86.9%.  B+ requires 87 to 89.9%.  Use these same percentages to determine C-, C, C+, D, D-, D+ but in the 70 and 60% ranges.

 

I reserve the right to change this grading system if there is an unforeseeable event that makes the system inappropriate for assigning grades.

 

Credit Hour Syllabus Statement:

In addition to spending 3 hours per week attending class, the typical student in this 3 credit lecture course should expect to spend at least 6 hours per week of concentrated attention on course-related work, including but not limited to time spent reading, reviewing, organizing notes, preparing for upcoming quizzes/ exams, problem solving, developing and completing projects, and other activities that enhance learning.

Disability Services Policy:

Fort Lewis College is committed to providing all students a liberal arts education through a personalized learning environment. If you think you have or you do have a documented disability which will need reasonable academic accommodations, please call the Director of Disability Services, 280 Noble Hall, 970-247-7459, for an appointment as soon as possible.

Academic Integrity Policy:

Cheating is highly unethical and I will not tolerate it!  Academic dishonesty includes all forms of unethical or illegal behavior which affects a student’s academic standing, including, but not limited to, cheating on exams, plagiarism, forgery of academic documents, falsification of information on academic documents, or unauthorized access to computer files containing academic information. Academic dishonesty may result in sanctions ranging from a lowered grade on a particular assignment to an “F” in the class and report submitted to the Office of the Vice President of Academic Affairs. The policy on academic dishonesty by students can be found at http://www.fortlewis.edu/Portals/12/Docs/PART-III-Academic-Dishonesty.pdf.

Student Athletes/Musicians Policy

 

Please let me know at the beginning of the semester which athletic team/sport or musical group in which you participate.  Also -- if you are going to be out of town for an athletic/musical event, please remind me a day or two before you will be gone.  If you are going to miss an exam or readings quiz while out of town -- then let me know a week prior to the date you will miss the exam.  In class exercises are in your packet and are also posted on my web page -- you can complete the questions for points if you miss an exercise due to an athletic/musical event.  You must turn this in the day you return to class to receive credit.  ALL HOMEWORK MUST BE TURNED IN BEFORE THE DUE DATE OR IT WILL BE COUNTED LATE OR WILL NOT BE ACCEPTED IF WE HAVE GONE OVER THE ANSWERS IN CLASS -- IF YOU ARE GOING TO MISS CLASS WHEN HOMEWORK IS DUE - TURN IT IN PRIOR TO LEAVING FOR YOUR EVENT.

   

Course Expectations

 

Homework Assignments:  

 

Students will be given written assignments to complete and turn in.  These assignments and their due dates will be posted on my web page and on canvas.  Make sure you follow all of the directions given on each assignment. The purpose of these assignments will be to further your understanding of the topics and issues discussed in class.  In particular, these assignments are designed to enhance your exposure to and understanding of classroom material and in some cases, to think critically about a problem presented to you.

 

Students OFTEN ask me for special consideration -- common excuses are: "I forgot my homework, can I turn it in tomorrow," or "The printer wouldn't work in the computer lab so I don't have my homework right now," or "I e-mailed it to myself and it didn't come through," etc.  Please don't give me your excuses.  Every student is subject to the same rules.  So please don't tell me your excuses and ask for special privileges -- the rules are listed below -- be prepared to live by them.

 

 NOTE:  I do NOT accept homework via e-mail and you must turn in your own homework assignments. 

 

General directions for all homework assignments are as follows:

  • All assignments must be turned in at the beginning of class (this does not mean 5 minutes into the class) on the day they are due.  Late assignments will be accepted with a deduction in points (20% if turned in the same day, 30% thereafter). 

  • No late assignments will be accepted once the assignment has been returned to the class.  No exceptions. 

  • All essay and number answers should be typed.  Graphs do not have to be typed. If I cannot read the assignment easily, I will not grade it.  Points will be deducted for not following directions. Repeat offenders will be subject to me not accepting their homework at all.

  • Do not change the size of the font on your homework assignments to less than 10 pt. - I prefer 12 pt. font.

  • Leave the questions asked on the homework assignments on your answer page.  I often refer back to the question when I am grading.

  • Leave a space between each question and answer (and between questions).

  • All assignments having more than one page must be stapled.  If you do not staple your assignments you can buy a staple from me - the price for one of my staples is 1 point deducted from your homework grade.

Macro Policy Analysis Paper Assignment:

 

This is the signature assignment that specifically addresses the learning outcomes for the GT Pathways categories of critical thinking and civic engagement and for the Liberal Arts Core learning outcomes regarding critical thinking, communication, engagement and knowledge integration.

You will be required to complete one macro policy analysis paper during the semester.  You should choose a current macro policy issue.  You might look at newspapers, magazines, the internet, etc. to give you some ideas.  You can not analyze a policy that is analyzed in the packet, that we discussed in class, or has been analyzed in detail before.  Therefore, minimum wage laws, increases (decreases) in the income tax, a head tax and drug laws are off limits.  I reserve the right to make other topics off limits as well. You need to do a MACRO topic. Make sure you OK your policy issue with me before beginning the assignment by either talking to me in person or emailing me. 

THIS IS NOT A RESEARCH PAPER!  I do not want you to tell me what others have said.  This is an analysis paper.  I want YOUR analysis.  If you do cite an article, etc. make sure you reference it at the end of your paper.  You should not have many references!!

Your assignment should include:

  1. What is the policy issue/rule being discussed?  This should be relatively short.  Just enough information to make it clear what the policy is.
  2. Construct and develop your argument – in other words, provide your analysis of the issue by using a thorough and logical economic argument by incorporating the R-I-A-O model (make sure you state any assumptions you make). 
  3. You should include an analysis of one intended and one unintended outcome of the policy.  No more, no less.  Make sure you show your analysis for both.
  4. Your conclusion -- is it a good or bad policy and why?

What I will be looking for is the logic to your arguments and that you use economic analysis and critical thinking in your arguments (including the R-I-A-O model – that is, explain carefully any assumptions you are making to come to your conclusion.  Again, make sure your analysis is logical and uses the tools economists use in analyzing an issue. 

The paper should be typed, double-spaced (no smaller than 10 pt.) and should include any references you use.  The length of the paper should be about two pages long (should not exceed 2 pages - however, if you want to include a graph or other exhibits - you can go to three pages).  Write out your argument in paragraph form - do not use the tables that I have provided you to help you understand the R-I-A-O model. 

Check your spelling and your sentences.  Do they make sense?  Etc.  Don't be sloppy.  I will be looking at how you are communicating your analysis to me.

 

Macro Policy Analysis Paper Due Date:  Monday, April 17.  Please OK your topic with me at least one week before this date.

 

In Class Exercises (5 pts. each):  

 

Several in-class exercises will take place throughout the semester.  Some will involve working in groups, some will be done on an individual basis.  If you do not work on the in class exercise while in class, you will not receive the 5 points.  Leaving the classroom or simply sitting in a daze while an in class exercise is taking place will result in zero points for that exercise.  Doing an in class exercise does not mean it is "break time."  It is to your advantage to take these exercises seriously -- they are a learning tool.  If you do not have your packet with you when we do an in class exercise, you will not receive the points for that exercise.

 

Note:  You can only earn points for these exercises if you are in class the day they take place.  When an exercise will take place will not be announced in advance.  These exercises will be directly related to the exam material.

 

Out of Class Practice Problems:

 

There are several out of class practice problems in your packet.  Make sure you complete them when I ask you to do so.  If it appears that students are not completing them, I will start collecting them without notice and give credit to those who have completed them.

 

Reading Assignments and Readings Quizzes (12 pts. each): 

 

I will expect you to keep up with any assigned readings.  To give you an incentive, there will be a 5-10 minute quiz over the assigned reading at the beginning of class periodically.  If you are more than 3 minutes late for class, you will not be able to take the quiz.  ALSO - if you take a quiz and then do not stay for the entire class, the quiz will not count!!  Don't come in and take the quiz and then leave!!  You cannot make up a quiz if you are absent except under VERY special, documented circumstances.  Please don't e-mail me and ask me to make up a quiz because you decided to take your mom to the airport or you felt like skiing that day. 

 

Furthermore, the class will include discussions about the chapters assigned in The Economics of Macro Issues book, the Important Concept Readings in your packet and other handouts -- therefore, if you have not read the assigned reading, you will not be able to participate in the discussions and will not gain as much from the lectures.

 

 

Exams: 

 

There will be four mid-semester exams and a final exam (which will be like a 5th exam but will have some comprehensive questions on it - I will provide those topics).  The exams may include definitions, short answer questions, multiple choice questions, essay questions, and problems (including graphs). 

 

            EXAM DATES: 

FIRST EXAM: Wednesday, Jan. 25

SECOND EXAM: Friday, Feb. 17

THIRD EXAM: Wednesday, March 15

FOURTH EXAM: Wednesday, April 5

MACRO POLICY ANALYSIS PAPER DUE:  Monday, April 17

FINAL EXAM: Tuesday, April 25 (9:45-11:45) in the same classroom. SEE NOTE BELOW

 

Note:  “But my Mom made the plane reservations and I can’t change them” is not a valid excuse to take the final exam early.  Neither is "but I have to work."   YOU MUST TAKE THE FINAL EXAM DURING ITS SCHEDULED DAY AND TIME.  PLEASE DO NOT ASK FOR AN EXCEPTION.

 

I DO NOT GIVE MAKE-UP EXAMS EXCEPT UNDER VERY SPECIAL CIRCUMSTANCES.  If you miss an exam WITH MY PRIOR PERMISSION, I might allow you to make up the exam -- but only if you obtain my permission PRIOR TO THE EXAM you are going to miss AND have a VERY good reason for missing it.   Without this permission, you will simply lose the points from a missed exam.  Permission to miss an exam will be given for VERY special circumstances, circumstances that must be documented in some way.  A phone call the day of the exam saying you are not feeling well is not a valid excuse to miss an exam.  Taking your parents (or anyone else) to the airport (or picking them up) is also not a valid excuse.  You must take responsibility for showing up and taking all of the exams.

 

NOTE:  once an exam has been handed out in class, you are not allowed to leave the classroom for any reason.  If you come into an exam late and someone has already finished the exam and left the classroom, you will not be allowed to take the exam and will be given the grade of zero for that exam. 

 

TIPS FOR SUCCESS

  • Come to class (on time).  Treat college like you would a job.  Not showing up for work means losing your job.  Keep that in mind.

  • Stay awake in class - which means pay attention and get plenty of sleep.  Take advantage of your opportunity to get an education!

  • Take the in-class exercises seriously and complete them during the time given in class.

  • Complete the out-of-class exercises - do them without looking at the answers to test yourself. 

  • Homework points add up fast – failing to turn in homework can result in your grade being an entire letter grade lower than otherwise.  Make sure you keep up with the homework assignments. Furthermore, the homework assignments will be directly related to the exams.  Completing and understanding the homework assignments is an important step in studying for the exams. 

  • Read the assigned reading assignments!

  • Study as if you are going to EXPLAIN the theory, etc. to someone else that doesn't know anything about what you are talking about.

  • Don't use economic terms in your answers without defining them.

  • Think critically, analyze and understand -- don't simply memorize!!

  • Be nice to the professor!

Course Outline of Topics

 

Introduction to Economics and the Economic Way of Thinking

Notes on National Income Accounts

Notes on Business Cycles and Unemployment

Notes on Money

Notes on Inflation and Deflation

Notes on the FED and Monetary Policy

Notes on Say's Law and Economic Growth

Notes on Fiscal Policy and Keynesian Economics

Notes on Hayek vs. Keynes:  The Business Cycle Revisited

 

Great job – you have read the syllabus.  There will be 2-3 questions on the first exam relating to the information covered in this syllabus!!