Meeting Times, Location, & Course Delivery Details
Contact Information
Economics for Today, by Irwin Tucker, 11th edition
Description
Principles of the Macro Economy focuses on the economy as a whole. The macroeconomic problems of inflation and unemployment are addressed. The role of government as manager of prosperity is scrutinized. [Skill: T] Perquisite: MT100 or math placement into MT106 or higher. This course will move to the Online (asynchronous) format in the event that the college is required to transition to online at any point during the semester due to a pandemic.
Expectations & Goals
The primary goal of this course is to provide the student with a basic understanding of economic laws and relationships. In this course, the economy will be examined at the macro level. Such macro problems as unemployment, economic growth and inflation will be studied. We will question how such conditions come about, and what, if anything, government can do about them. There is today, a broad range of disagreement among economists concerning how the economic problems of adequate growth, high employment levels, and stable prices can and should be addressed by government. There is no clear consensus on how to deal with an array of macroeconomic problems. We will examine the economy from a variety of analytical perspectives. Among these will be the Classical, the Keynesian, the Monetarist and the Supply Side School. Finally, we will see how the various theoretical points of view result in contending policy proposals.
Skills & Knowledge Development
- National Income Accounting - GDP, GNP, NDP, CPI and PPI.
- Definition of types of unemployment, types of inflation, fiscal and monetary policy both stimulatory and contractionary.
- The business cycle and the phases of the business cycle.
- Classical, Keynesian, Monetarist, Rational Expectations, Supply Side and Post Keynesian perspectives.
- What is money (M1, M2, M3 and L)?
- Open Market Operations and other tools of the Federal Reserve.
- Macroeconomic stabilization and economic growth.
- International trade and the macro-economy.
- GDP verses measure of economic welfare.
- Limitations to economic growth.
- Critical thinking, exhibited in essay analysis, as applied to determination of price level, changes in price level, level of GDP, interest rate, and level of employment of capital and labor, as well as
- the ability to evaluate the significance of macroeconomic performance versus other values such as ecology and community.
- Problem solving using graphical analysis, including being able to work with and use in applications the models of the macro economy and the tools of the economist.
- Calculation of GDP, inflation, spending and deposit creation multipliers.
- Independence of thought as reflected in an ability to weigh and judge policy proposal which affect the economy, employing the framework and tools of economic science.
- Building values of peacemaking, social justice, respect for all persons and preservation of the environment and appreciating how those values intersect economic principles.
TENTATIVE Course Schedule
| Week | Dates | Reading | Assignments |
|---|---|---|---|
| Week 1 | 1/13 | Introduction to Macroeconomics | |
| Week 2 | 1/14-1/16 | Gross Domestic Product | |
| Week 3 | 1/21-1/23 | The Business Cycle and Unemployment | |
| Week 4 | 1/28-1/30 | Inflation |
|
| Week 5 | 2/4-2/6 | The Classical Model | Quiz 1 |
| Week 6 | 2/11-2/13 | The Keynesian Model | |
| Week 7 | 2/18-2/20 | Classical and Keynesian Model Comparison |
|
| Week 8 | 2/25-2/27 | Money and the Federal Reserve |
|
| Week 9 | 3/4-3/6 | Creation of Money | Midterm |
| Week 10 | 3/10-3/14 | SPRING BREAK!!!! | |
| Week 11 | 3/18-3/20 | Monetary Policy |
|
| Week 12 | 3/25-3/27 | The Public Sector |
|
| Week 13 | 4/1-4/3 | The Phillips Curve and Expectations Theory | Quiz 2 |
| Week 14 | 4/8-4/10 | International Trade and Finance |
|
| Week 15 | 4/15-4/17 | Economies in Transition | |
| Week 16 | 4/22 | Economic Growth in Developing Countries | |
| Week 17 | 4/29-5/1 | Economic Growth in Developing Countries continued and Class Review | |
| Final Exam: Thursday, May 8th 10:15-12:15 pm | |||
Homework
This is a four-credit hour class. Two hours of outside work are required for each college credit (that translates to 8 outside hours of work per week for this course). These two hours of additional work shall include but not be limited to the following; occasional assignments, going over course notes, consulting with others in the class, reading the text, scouring the news from reputed sources such as NPR, MSNBC, ABC, New York Times, the Financial Times of London, the Guardian, and The Economist for stories pertaining to the Micro Economy and governmental policy which impacts it.
The Plus/Minus system will be used in grading. Tests and quizzes will be a combination of short answer/essay, multiple choice and graphical representation questions. Short answer/essay portions of the tests and quizzes will be subjectively graded. The final and midterm will both be comprehensive. Professional Judgment includes, but is not limited to, attendance, participation, classroom demeanor, effort, interest, and attitude of openness to learning and the timely submission of any and all assignments. There will be NO make-up exams or quizzes, except for the most serious of reasons, which will be determined at the SOLE discretion of the professor. A student who misses an exam or quiz will earn a zero for that test or exam, unless granted a make-up.
- Professional Judgement – 20%
- Quizzes – 30%
- Midterm – 25%
- Final – 25%
Instructor Course Policies
Attendance is MANDATORY. If a student must miss a lecture it is the sole responsibility of the student to acquire the information that was missed. This includes, but is not limited to, subject matter and announcements as to modifications of course content and timetable. It is not the responsibility of the instructor to provide the information that was missed to the student. Coming late to class or online lecture except as a rare exception is not permitted. Students who come late to class may be asked to leave the classroom or denied entry. Frequent absences and lateness will render the student ineligible for extra credit and ineligible for any curve grades if one is drawn. If a student misses 6 or more classes the instructor may decide that the student will receive a failing grade, and need to retake the class. See the current Student Handbook for the college’s Attendance Policy, especially as it pertains to excused absences.
Attendance on days that include a guest speaker and/or a field trip is required. If you are unable to attend due to a conflict (athletic participation, etc.) please let me know no later than one week prior to the speaker or field trip and an alternative assignment will be given. If you do not let me know one week prior, you will not receive credit for these events and will lose points in the course. ABSOLUTELY NO EXCEPTIONS. I AM SERIOUS. You will provide your own transportation to the field trip.
Additional Information and Resources
Electronic Devices & Talking
All electronic devices (other than computers that are being used to take notes) are to be turned off or silenced during class. No text messaging, browsing or other activities on electronic devices are permitted during class. If you are caught using an electronic device other than to take notes you will be asked to leave the classroom. Students are responsible for any material that is missed as a result of being dismissed from class.
No talking is permitted during class unless students are asking or answering questions as directed by the professor. Students should raise their hand if they have a question during lecture. Students that talk or appear to not be paying attention during class will be asked to leave the classroom. Students are responsible for any material that is missed as a result of being dismissed from class.
Academic Misconduct
Any act of academic dishonesty, including cheating and plagiarism, will result in FAILURE of this course. See the current Student Handbook for the college’s Academic Integrity policies as they pertain to examinations, plagiarism, classroom behavior, and the process for handling academic misconduct charges. All work (essays, test answers, homework answers, etc.) that you submit in this course must be originally produced by you and not by artificial intelligence. Failure to comply with this policy will result in penalties for academic dishonesty.
ADA Statement
If you have a documented learning disability that requires accommodation, contact Amber Walters the Academic Services Director, at 937 382 6661 ext. 444 or call 937-481-2444, Robinson Communication Center.
Institutional and Program-Level Policies
All exams will follow the Final Exam Schedule. Students scheduled to take three or more final examinations on one day may request to arrange their examination schedule, so no more than two exams occur on one day.
Requests for early or late exams are considered only under extreme circumstances. Prior to the exam period, the student must file a written request on the Early/Late Exam Form available in the Student One Stop Center, Academic Records, and on the WC portal. The form must be signed by the Instructor and the Academic Dean, approving the alternate exam time. This process must be completed prior to the scheduled exam period.
Out-of-class Work Expectation A minimum of 2 hours of out-of-class student work is expected for each hour of in-class time for traditional face-to-face courses. For online and hybrid courses, the combination of face-to-face time and out-of-class work should be equal to 3 hours per credit hour per week. |
Instructional Course Delivery |
Academic Integrity Policy The use of generative AI is prohibited except where expressly allowed in assignment instructions. |
Academic Misconduct - Examples [10/24]
ACADEMIC CODE OF CONDUCT
This policy is directly related to the first Testimony, which is part of the Student Code of Conduct. “I will practice personal and academic integrity.” The initial responsibility for dealing with academic misconduct lies with the individual faculty member in whose classroom or course of study the offense occurs. The responsibility includes determination of the consequences for the offense. The goal is for faculty to confront cheating and plagiarism, to teach ethical behavior, and to provide an appropriate consequence based on the nature of the incident. Faculty are encouraged to explicitly address academic misconduct and its consequences in the course syllabus.
EXAMPLES OF ACADEMIC MISCONDUCT
A. Examination offenses include, but are not limited to, the following:
1.Taking unauthorized materials into or out of the examination room.
2.Leaving the examination room without authorization before completing an examination.
3.Talking in the examination room without authorization.
4.Discussing the examination outside the examination room during the course of the examination.
5.Attempting to observe the work of another student.
6.Taking an examination for another person or permitting someone else to do so.
7.Collaborating improperly by discussion, joint research, or joint effort in any way expressly prohibited by the instructor. This includes using a cell phone or other device to access information from another source or another student.
8.Improper knowledge of contents of an examination - No student shall knowingly acquire unauthorized knowledge of an examination or any part of an examination, or solicit, offer, or give information about any part of an examination.
B. Student work offenses include, but are not limited to, the following, which are expressly prohibited in the absence of prior written approval of the instructor or instructors involved:
1.Resubmission of work - Submitting work which has been previously submitted for credit.
2. Plagiarism - Submitting work done wholly or partly by another, including the unattributed copying of all or parts of a published work or internet document. Using generative Artificial Intelligence (AI) sources to produce work (when not expressly permitted) is also a form of plagiarism. Some instances of plagiarism are the result of ignorance rather than dishonesty. When plagiarism is encountered, the instructor should be sure that the student knows proper procedures for attributing content.
3.Prohibited sources - Consulting material or persons contrary to the directions of the instructor.
4.Improper collaboration - Engaging in any discussion, joint research, or joint effort of any kind expressly prohibited by the instructor.
5.Deception - Misrepresenting the authenticity of sources, citations, or principles in any written work.
6. Sharing work – Students who share their work with others are responsible for how that work is used. For example, if a student shares a paper with another student to help him or her understand an assignment, and that student submits the work as their own, the author of the paper shares responsibility for the plagiarism committed by the other student.
D. Other misconduct - Engaging in any other improper conduct as specified by the instructor.
E. Lying – deliberately providing false information relevant to academic matters, such as misrepresenting the inability to take an examination because of illness.
F. Disruptive or disrespectful classroom behavior – causing a disturbance in the classroom, interrupting instruction, speaking rudely or threatening students or faculty.
Class Attendance Policy |
ADA (Americans with Disabilities Act)
Students with Disabilities
In accordance with ADA (Americans with Disabilities Act Amendments Act of 2008 (ADA), Section 504 of the Rehabilitation Act of 1973), Wilmington College provides access through reasonable accommodations to students with documented physical and psychological disabilities.
Students who wish to access Services need to meet with the Director of Accessibility and Disability Services and provide verification of their disability. To register with Accessibility and Disability Services, students submit an Application for Services. In addition, the student must provide the Disability Verification form accompanied by current disability documentation from a licensed professional. For more information, contact the Director of Accessibility and Disability Services at accessibility@wilmington.edu or 937.481.2444, 114 Robinson Communcation Center.