DEL MAR COLLEGE
DEPARTMENT OF BUSINESS ADMINISTRATION
ECON 2301 FALL 2008
PRINCIPLES OF MACROECONOMICS
INSTRUCTOR: ED COHN
E-MAIL: Please use WebCT Email. ALTERNATE E-MAIL: [email protected]
PHONE: 698-1408 or 879-0911
OFFICE: VB 158
OFFICE HOURS: M-F 8-9AM
COURSE DESCRIPTION
History, development, and application of macroeconomic and microeconomic
theory underlying the production, distribution, and exchange of goods and
services including the utilization of resources, analysis of value and prices,
national income analysis, fiscal policies, monetary and banking theory and policy,
distribution of income, labor problems, international economics, and economics
systems. Attention given to the application of economic principles to economic
problems.
Assessment Levels: R3, E3, M2.
INCOMING COMPETENCY OF STUDENT EXPECTED BY INSTRUCTOR
The students are required to effectively communicate their responses to questions
in written form and to participate articulately in class discussion of current
economic issues.
COURSE STATEMENT OF OBJECTIVES
After completing the course, the student will be able to:
I. Set priorities and make value judgments using the principles involved in
opportunity cost analysis.
C1-3, C5-3, C12-3, C15-3;
F1-3, F3-3, F4-3, F16-3, F17-3
II. Utilize class lectures, class discussions, and examinations to understand how our
economic system copes with the problem of scarcity.
C1-3, C5-3, C12-3, C15-3;
F3-3, F4-3
III. Be able to read newspapers, periodicals, view television, and other resources to
ascertain the pulse of the economy.
C1-3, C5-3, C12-3, C15-3;
F3-3, F4-3, F5-3
IV. Use overhead transparencies, tables, end-of-chapter assignments, and websites for
learning supports.
C1-3, C4-3, C5-3;
F3-3, F4-3
V. Make use of the Internet to get current economic data and expert opinions and
make use of e-mail to seek information and assistance from instructor.
C1-3, C4-3, C5-3, C12-3;
F3-3, F4-3, F5-3
EXEMPLARY CORE OBJECTIVES
1. To use and critique alternative explanatory systems or theories.
2. To differentiate and analyze historical evidence (documentary and statistical), and
differing points of view.
3. To analyze, critically assess, and develop creative solutions to public policy
problems.
TEXT USED
Principles of Macroeconomics 4th Edition
By N. Gregory Mankiw Thomson Publishing
(Students are NOT required to purchase the bundle from the bookstores. The Key Code is
not required to access WebCT for my course. Students may use the 3rd or 4th Edition of
Principles of Macroeconomics but the 4th edition is preferable.)
WEBCT USE:
These classes use WebCT in hopes of helping students help themselves in the
course. There are numerous learning resources provided on the WebCT homepage. These
include chapter outlines; chapter power points; chapter video lectures; exam study
guides; and acronyms dictionary. There are also numerous communication resources,
which include WebCT e-mail; discussion area (particularly “News and Updates From
Mr. Cohn”); and chat rooms (particularly Chat Room 1, which I will be in every Friday
from 8-9 AM to answer questions). Finally, there are ongoing evaluations that include
quizzes and exams.
My intent is to place all necessary resources at your fingertips in real time.
Nevertheless, WebCT can be challenging, especially for first time users. I want to make
sure you have the training necessary to use WebCT effectively. Therefore, I will be
available during office hours or by appointment to go over WebCT, its use, and
capabilities with any student who is not comfortable with WebCT.
GRADING POLICY:
Three Objective Exams
Final Exam - Comprehensive
Final Presentation & Paper
Homework/Quizzes
In-class Assignments, Class Participation,
Discussion Topics (Online) & Attendance
TOTAL
Exams:
Exam 1 covers Chapters 1-4
300pts Best 2 out of 3 exams.
200pts
150pts
250pts 25 pts each; 13 total
100pts
1000pts
Exam 2 covers Chapters 10-12 & 15
Exam 3 covers Chapters 16, 17, & 20
Finals Exam is Comprehensive with emphases on Chapter 21 and Chapter 23.
EXAMS ARE INDIVIDUAL TESTS AND ARE NOT TO BE TAKEN AS A GROUP.
WebCT has safe guards in place that automatically checks for cheating, as well as tracks
each student’s progression within the exams. Students caught cheating will be held
responsible for their actions in accordance with the Student Handbook.
Students earning an average of 90 or above on the three Exams and who has completed
ALL assigned quizzes/homework and in-class assignments will be exempt from taking
the Final Exam. Such students must continue good attendance and class participation,
quizzes/homework, in-class assignments, and Final Project.
Exams are normally taken on-line during the times specified unless this causes hardship,
in which case you must discuss alternative times and places for taking the exam with me
a week PRIOR to the exam due date. Exams are open book, but strictly timed. You may
take the exam at home, or any place on campus or with Internet access.
Brick and mortar students (who meet in a classroom) may take the exam during class
time.
Quizzes and Homework:
Quizzes and Homework are online in a WebCT environment; some are done in
class and some at home. Students are encouraged to do quizzes and homework in teams.
Students can open the quiz/homework; work on it for a while, save the answers as they
are completed through out the week; close WebCT; return to WebCT and reopen to
continue working on the assignment. The only requirement is that the students submit the
assignment before the deadline that is specified on the WebCT calendar and on the
assignment. Do not submit the assignment until it is complete. No extensions will be
granted. No make-ups will be permitted unless I am notified in advance and approve.
There are 13 quizzes/homeworks at 25 points each, so there is a 75-point cushion allotted
to obtain the maximum total of 250 points. My expectation is that most of you will
receive close to the maximum number of points.
In-class Assignments, Discussion Topics, Class Participation and Attendance.
In-Class Assignments:
The brick and mortar students will maintain an informal folder of in-class
assignments. I will ask for the folder during the next to last week of classes.
All assignments must have proper heading or they will not be graded. Example:
Name:
John Doe
Course & Section:
2301-001 (Macro) **If you are unsure of your course section,
please ask.
Date:
04-20-08
Discussion Topics:
I will post discussions for most chapters in the course. All students will be
expected to participate in the discussion topics. Discussion topics for pure internet
students form the basis for the Participation grade (100 points).
Attendance Policy:
You are expected to attend and participate in class. When this is not possible, you
should inform me in advance. Missing four- (4) class consecutively or six (6) classes in
total or an Exam will subject the student to possible dropping from the class by the
instructor. However, you should not rely on the instructor to drop you from the class.
In addition, attendance counts as part of the participation grade for brick and
mortar students.
Class Participation: This refers to your participation in class discussions and group work.
It applies only to brick and mortar students.
MAKE UPS
For security reasons, there will be ABSOLUTELY NO MAKE-UPS OR
EXCEPTIONS to the deadlines set on any of the assignments or exams no matter the
reason for missing the deadlines, except by prior arrangement. I understand that
events come up that may cause you to miss a deadline; therefore, I only count the
best two exams.
GRADE OF “I”:
A grade of “I” is rarely given and will be considered ONLY under ALL of the
following conditions;
1. All course work up to the final exam has been completed with a passing
average
2. The student has attended at least 90% of the class meetings for this course
3. The student must provide documentation from a college official and/or a
physician indicating the reason for being unable to take the final exam as
scheduled.
4. The instructor must receive notification before the scheduled exam period.
When a student does not complete a course because of illness or other acceptable reason,
in any semester, the instructor may assign the "I" grade, signifying that the student's work
is incomplete. The instructor will provide for the student and his Department Chair Form
ADM 006 giving a reason for the assignment of an "I" grade, a description of the work to
satisfy course requirements, and a timeline, for the student to have completed the work
and the instructor to submit a grade change form to the Registrar.
If the "I" grade change is not completed at the end of the subsequent full-term semester
(Fall or Spring), the "I" grade will automatically change to an "F.”
ACADEMIC INTEGRITY
Students are expected to maintain the integrity of the College by avoiding dishonesty in
their own behavior and by expecting honest behavior from their fellow students. Meeting
this requirement means avoiding plagiarism, collusion, and cheating and protects the
student from disciplinary action. Please refer to the Del Mar College Manual of Policies
and Procedures (Policy on Scholastic Dishonesty, B7.13.6) for possible consequences
related to disciplinary action. Students would demonstrate high ethical standards,
principles of behavior, and personal integrity
STUDENT RIGHTS AND RESPONSIBILITIES:
Students are expected to maintain the integrity of the College by following all the
guidelines set out in the Standards of Student Conduct in the Del Mar College Student
Handbook. www.delamr.edu/sthandbook/
STUDENT SERVICES:
Students requesting disability accommodations or information are encouraged to
contact the Office of Special Services, Harvin Center, Room 188, or call 698-1298.
STUDENT GUIDELINES:
1. Check the CALENDAR a couple times a week for exams. Check for due dates for
assignments and any other information needed to meet the requirements of the
course. Any changes made to the course calendar will be posted ON the WebCT
Calendar and/or on the “News and Updates From Mr. Cohn.” The calendar is a
tentative calendar; dates are subject to change.
2. Familiarize yourself with WebCT.
3. Make use of the Internet to get current economic data and expert opinions. Make
use of e-mail and WebCT systems to seek information and assistance from the
instructor and fellow students.
4. It is your responsibility to check your WebCT e-mail daily. All correspondence
pertinent to the individual student will be sent by the WebCT e-mail. Do not email me outside of WebCT.
5. It is your responsibility to check the Discussion Topic “News and Updates from
Mr. Cohn” daily. Any changes in deadlines, bonus opportunities, make-ups, and
other important items of general interest will be posted here.
6. You must log in to WebCT to do work at least twice a week. The computer keeps
a log of every time you log in and this will be monitored.
7. Discussions: The discussion area is for students to interact and help each other
with questions. Please remember this discussion area is part of the course and
should be used appropriately.
DATES TO REMEMBER: **PLEASE SEE THE CALENDAR ON THE
HOMEPAGE OF WEBCT
FINAL PAPER AND PRESENTATION ALTERNATIVES
Due No Later Than Last Day of Class
Students may choose a Service Learning Project (Junior Achievement) and a Power Point
Presentation or a Research Paper and Power Point Presentation. Both are normally done
in teams. However, a student may present individually upon prior consultation with the
instructor.
JUNIOR ACHIEVEMENT:
This option requires participation in the basic Junior Achievement program.
Junior Achievement is a well-established nationwide program. College students teach K12 grades about business and economics. More material on Junior Achievement can be
found by accessing the JA icon on the homepage and under “News and Updates from Mr.
Cohn” in the Discussion section of WEBCT. Dual credit students are encouraged to
participate in Junior Achievement. The summer version consists of traveling to
Recreation Centers and Y’s.
Junior Achievement members are normally placed in teams for course purposes. The
team will prepare a 10-15 minute power-point presentation covering:
1. Your experience in the classroom.
2. Pros and Cons of your JA experience in the program.
3. An analysis of the relationship of the topics in this course to the topic(s) presented
in the Junior Achievement class.
4. The implications of this analysis for the topics taught in this course.
5. Ideas for changing the topics and/or presentational material used in Junior
Achievement.
6. Assessment of the value of the program to student teachers and students with
recommendations or whether the program should be continued. No paper is
required for this option.
Honors Component of Junior Achievement:
This Topic may be used as the Honors component of this course. Honors students may
for example:
1. Assist in the administrative aspects of the JA program (this involves helping
Jayne Woodall the JA District Director coordinate the student effort);
2. Assess the effectiveness of the program by either questionnaire or focus group of
both the Del Mar students and the classroom teachers; and
3. Develop an informational material to recruit Del Mar students to the JA Program.
THERE ARE TWO RESEARCH ALTERNATIVES TO JA FOR THE FINAL
MAJOR ASSIGNMENT:
(Note: any two or more students may propose an alternative research assignment to the
instructor)
1. You are the Council of Economic Advisors (www.whitehouse.gov). Go to
“Latest Economic Indicators” of the U.S. Census Bureau at
www.census.gov/econ/www/; left click on Economics Briefing room. This site
tracks the latest economic indicators. Print out (or copy/paste) the indicators.
Assign a +1 to those economic indicators that point to an expansion in the near
future (one year), assign a –1 for those indicating contraction in the near future, or
0 if indeterminate or neutral. Sum these values for a crude forecast. (HINT, be
sure to click on the graphs on the far left of every indicator to see the trend line
over the last few years) Based on this information:
a. Advise the president as to what his major fiscal and monetary policy
options are, consider the pros and cons of any active short-run policy.
b. Explain the short-run impacts for each policy. For example, include the
impact on specific components of GDP such as C, G, I, or Xn; the impact
of the GDP multiplier; the impact on aggregate demand; equilibrium GDP;
inflation; employment and unemployment; interest rates; money supply;
and balance of trade and public debts and deficits. Be sure to describe
potential problems of implementing the policies.
c. What are the long-run impacts? Are these more important or less
important than the short-run impacts?
d. Briefly, what is your recommendation and why?
e. For each policy, indicate whether the President can implement the policy
alone. Who does he need to convince. How can he convince them?
f. Turn in the power point printout. Also write and turn in a 3-5-page paper.
2. WARS AND THE ECONOMY. Is War Good for The Economy or Not? Use the
course material to demonstrate the possible impacts of war on the U.S. economy.
Consider, for example:
g. The impact of war on capital and human resources within the framework
of the PPF.
h. The impact of war on specific commodities.
i. The impact of the war on Aggregate Demand and Expenditures.
j. Impact of Tax Cuts during War on the Macro economy
k. Other impacts of War (e.g., international trade, trade deficits)
l. Turn in the power point printout. Also write and turn in a 3-5-page paper.
EXPECTATIONS FOR POWER POINT PRESENTATIONS:
Final Presentations for Brick and Mortar students
(Note: physical presentations are required only for brick and mortar students. All other
students will submit their power-point and, if needed, paper via WebCT e-mail)
A Power Point Presentation is an outline of the major points in the Final Paper. Work
Shops will be held, as needed, to assist students in Power Point dynamics, set-up,
creation, and examples of previous Power Points will be provided. The following are the
characteristic of past, outstanding student presentations:
1. Presentations are professional, seamless and complete
a. Business attire (men-no jackets but tie, business slacks and shirt)
b. “We” not “I”
c. Pay attention when others on your team are presenting
d. All members on time and ready
e. Assume the listeners are top management in your company
f. Try to minimize reading and mumbling. Notes are okay.
g. You must pass out copies of your power points to “top management”
h. Same power point template
i. No fumbling
j. Your disc runs on my machine (pre-check)
k. If someone is sick, the others will cover his portion
l. The slides will match the verbal presentation
2. Content (economic theory) is accurate.
3. Last day for presentations: last day of class. Earlier presentations encouraged
4. Presentations will be 10-15 minutes. Please notify me if you need more time.
Remember, there often many teams presenting on the last day of class.
5. Every member of the team must present.
6. Listeners (the students in the audience) must be courteous.
7. Team members will receive different grades based upon:
m. My observation of preparation and presentation
n. Peer evaluation by team members, based on reliability, team work,
contribution to group effort, and leadership
o. Listener evaluation of the presentation
8. As to the final paper:
p. Most people hand in a signed group paper. All signers receive the same
grade on the paper itself (but not on the presentation)
q. Individuals may choose to hand in their own paper for an individual grade
r. The paper should be 3-5 pages but may be longer if the material is
pertinent.
s. The paper should contain a list of all sources.
DEL MAR COLLEGE
BA DEPARTMENT
SCANS (Secretary's Commission on Achieving Necessary Skills) competencies are
integrated into this course competency-based outcomes to improve your education by
helping you better define and use work place skills needed for employment. Each
competency will integrate several scans competencies to assist you in developing and
reinforcing employable skills. Competencies are criterion referenced (i.e., they are
measured against predetermined levels of proficiency in skills for effective job
performance). The know-how identified by SCANS is made up of five competencies and
a three-part foundation of skills and personal qualities that are needed for solid job
performance. These are:
WORKPLACE COMPETENCIES -Effective workers can productively use:
Resources -They know how to (C1) allocate time, (C2) money, (C3) materials, and (C4)
staff
Information -They can (C5) acquire and evaluate data, (C6) organize, and maintain files,
(C7) interpret and communicate, and (C8) use computers to process information.
Interpersonal Skills -They can work on (C9) teams, (C10) teach others; (C11) serve
customers, (C12) lead, (C13) negotiate, and (C14) work well with people from culturally
diverse backgrounds.
Systems -They (C15) understand social, organizational, and technological systems; (C16)
they can monitor and correct performance; and (C17) they can design or improve
systems.
Technology -They can (C18) select equipment and tools, (C19) apply technology to
specific tasks, and (C20) maintain and troubleshoot equipment.
FOUNDATION SKILLS -Competent workers in the high-performance workplace need:
Basic Skills - (F1) reading, (F2) writing, (F3) arithmetic and (F4) mathematics, (F5)
listening and (F6) speaking.
Thinking Skills - (F7) to think creatively, (F8) to make decisions, (F9) to solve
problems, (F10) to visualize, (F11) the ability to learn, and (F12) to reason.
Personal Qualities - (F13) individual responsibility, (F14) self-esteem, (F15) sociability,
(F16) self-management, and (F17) integrity.
COMPETENCY-BASED OUTCOMES WITH WORKPLACE PROFICIENCY LEVELS
for ECON 2302:
Resources
A
B
C
D
E
C1
3
3
3
3
3
Information
C2
C3
C4
C5
3
3
3
3
3
3
3
C6
C7
Interpersonal Skills
C8
C9
C10
C11
C12
3
3
3
Systems
C13
C14
C15
3
3
3
Technology
C16
C17
C18
C19
C20
3
COMPETENCY-BASED OUTCOMES WITH FOUNDATION SKILLS LEVELS:
Basic Skills
F1
A
B
C
D
E
3
F2
Thinking Skills
F3
F4
3
3
3
3
3
3
3
3
3
3
F5
F6
F7
F8
F9
Personal Qualities
F10
F11
F12
F13
F14
F15
F16
F17
3
3
3
3
PROFICIENCY LEVELS FOR SCANS COMPETENCIES:
1
2
5
rarely
routinely
routinely
performs task
performs task
performs task
w/moderate
supervision
3
4
routinely
routinely
performs task
performs task
w/minimal
supervision
over/beyond
designated task
F18
F19
F20