Principles of Macroeconomics
ECON 1111
Course Syllabus

Our textbook for this semester is Economics Principles & Tools, 6th edition by O'Sullivan, Sheffrin and Perez (ISBN-10: 0136076440 or ISBN-13: 9780136076445). You may use the reserve copy in the library on the main campus to stay current with reading assignments if you should experience a delay purchasing a copy.

Quite a few students have asked about using the previous edition of our textbook since they still have it from another economics course. I understand the need to do so given the co$t of this book. I have reviewed the current edition and do not see any major changes. I have not read every page, but the concepts, principles and theories are the same and consistent with how the tests and exams are constructed. You will probably be okay using the previous edition, BUT I cannot guarantee that there are not important differences between the two that I have yet to discover. There is a copy of the current edition on reserve in the library if you wish to make a close comparison between the two.

COURSE DESCRIPTION
This course introduces and explores a variety of macroeconomic topics, including: aggregate supply and demand, market equilibrium, Gross Domestic Product, employment, income, prices, major schools of economic thought, fluctuations, growth, monetary policy, fiscal policy, the national debt, international trade, and international finance.
Prerequisites: DSPR 0800 and DSPW 0700

COURSE OUTCOMES
After completing ECON 1111, students should be able to:
1. State the Laws of Supply and Demand and explain the concept of equilibrium.
2. Identify and explain the basic principles of economics.
3. Enumerate and explain the three economic choices.
4. Provide a definition of Gross Domestic Product and describe the four components.
5. Define fiscal policy and explain how it can be used to cope with fundamental economic problems.
6. Explain how monetary policy can be used to cope with fundamental economic problems.
7. Describe how international finance can impact a nation’s Gross Domestic Product.

The following are detailed course competencies to support the course outcomes:
  1. Define both positive and normative economic analysis and explain the difference.
  2. Explain the scarcity principle and why scarcity is the fundamental economic problem.
  3. Discuss the principle of opportunity cost and provide examples.
  4. Interpret the production possibilities curve and explain how the graph embodies the principles of    scarcity and opportunity cost.
  5. Define the marginal principle and apply it in an economic analysis.
  6. Identify and explain the three economic systems.
  7. State the Laws of Supply and Demand and explain the concept of equilibrium.
  8. Provide a definition of Gross Domestic Product and describe the four components.
  9. Differentiate among the various types of employment and unemployment.
10. Explain how inflation impacts standard of living.
11. Describe how fiscal policy can be used to influence a nation’s economy.
12. Describe how monetary policy can be used to influence a nation’s economy.
13. Explain the advantages and disadvantages of international trade.
14. Describe how international finance can impact a nation’s Gross Domestic Product.

SUMMARY OF COURSE REQUIREMENTS
1) Read the assigned material in the textbook (see the Assignments page);
2) Complete the required online tests;
3) Complete the online Mid-Term Exam in a testing center; and
4) Complete the online Final Exam in a testing center.

OPTIONAL ACTIVITIES
There are a variety of learning materials within each chapter in the textbook and the online content, such as: quizzes, practice tests, Internet exercises, homework assignments, etc. These are not required but are recommended to help you develop mastery of the subject.

ONLINE TESTS/EXAMS
Important Requirement: The Respondus LockDown Browser is required to complete and review the required tests and exams. Click here for instructions.

There are 4 online tests, a Mid-Term Exam and a Final Exam (see Grading Criteria below). Test questions for each of the online tests and exams will come from material covered in the Web lessons and the textbook. The Mid-Term Exam will include materials covered to that point in the course. The Final Exam will emphasize material covered after the Mid-Term Exam. A good strategy to prepare for the Mid-Term and Final Exams is to review all prior tests that you have completed (see the instructions in the FAQ's). The online tests are timed and one attempt is allowed. The amount of time allocated begins when you click the link to access a test; therefore, you must be prepared to complete the test when you access it.

The Mid-Term and Final Exams require a password and must be completed in a testing center. A testing technician will enter the password necessary for you to complete the exam. You may complete all tests and exams online in the Kisber Library Testing Center located on the main Nashville State campus or at one of the Nashville State sites in Cookeville, Dickson, Southeast Center, or Waverly. The hours for the Testing Center on campus are: 8:00 a.m.-7:30 p.m. Monday - Thursday, 8:00 a.m.-4:30 p.m. Friday, and 9:00 a.m.-2:00 p.m. Saturday (video and Web students only on Saturday). If you plan to go to an off-campus testing center, I suggest that you check with them to determine their hours and procedures for the current semester. You must provide photo identification, your course name and number, and your instructor's name to take tests in the Testing Center. Tennessee Board of Regents rules and regulations require that no children under 12 years of age will be allowed in the Testing Center.

You will be allowed one hour and may use one page of notes (8 1/2 X 11 both sides) for each test or exam. You should schedule a full hour to complete each test or exam. The notes may be configured as you wish - hand written, typewritten or a combination of both.

You may make arrangements with an acceptable proctor if you have truly extraordinary circumstances, rather than mere convenience, and cannot come to campus or an off-campus site to complete the Mid-Term and/or Final Exam. Just about every town, or one nearby, has an acceptable proctor which could include: school teachers, college professors, school administrators (e.g. principals), and librarians. Most community colleges and universities have testing centers which are usually quite willing to proctor an exam. The proctor must have an email address which clearly reflects the name of the institution and the individual's name. You must contact me with your arrangements for a proctor by the third week of the semester.

MISSED TEST/EXAM POLICY
The dates published in the semester calendar are not the due dates, they are the last opportunity to complete a test or exam. I expect that students will not wait until the last opportunity but some always do and often run into unexpected complications. The usual last-minute difficulties each semester include: computer malfunction, had to work late, illness, car troubles, read the calendar date wrong, etc. Believe me, something will happen if you wait until the last day and I do not approve extensions! Tests and exams will not be available after the date published in the Semester Calendar. The only exception to this policy will be if you can document a severe, personal tragedy such as hospitalization or death. Do not ask for an extension unless you are able to document such an event. The lowest test grade for the semester will be substituted for the first missed test. Subsequent missed tests will receive a score of zero. Missed exams will receive a score of zero. Clearly, this is to encourage you not to procrastinate until the deadline.

REVIEWING TESTS
I strongly encourage reviewing prior tests as you prepare for the mid term and final exams. Click Grades and the submission icon to the right of the test or exam you wish to review.

GRADING CRITERIA
Final grades for the semester are calculated on a basis of 1000 points which can be earned from the required tests and exams:
A = 900+ points (90%+)
B = 800-899 points (80-89%)
C = 700-799 points (70-79%
D = 600-699 points (60-69%)
F =      0-599 points 0-59%)

Required Tests and Exams
4 Tests: 400 points possible (100 points each)
Mid-Term Exam (Testing Center): 300 points possible
Final Exam (Testing Center): 300 points possible

            Position Paper: You can earn up to 50 additional points by composing a position paper and posting it as an attachment in the Discussion area for class members to review. Please choose a contemporary topic from our text book or any topic that is relevant to our subject. I encourage you to be selective and choose one which will be interesting and meaningful to you. Examples of position papers and an excellent guide from the University of Hawaii are available in the Help section of the Content page.

I shall grade only those papers which meet the following 5 requirements:
1) Consist of a minimum of 3-5 pages;
2) Use at least 5 information sources of your choosing (Wikipedia.org is not an acceptable source);
3) Format must be derived from the style manual of your choice, such as: Chicago, Campbell, Keithley, Hacker, Turabian, MLA, or APA;
4) A bibliography, list of references, or footnotes; and
5) Posted in the NS Online Discussion area absolutely no later than the deadline listed in the Assignments/Semester Calendar.

Grading Rubrics
Content and persuasiveness = 40 points
Grammar, punctuation, spelling, and style = 10 points

In short… compose this paper as you would for an English composition class.

Course Access, Attendance, and Satisfactory Progress
Access to the NS Online component for all courses, study aids, tests, and exams will be available on the first day of classes for the semester. The benefit which you can derive from your course is related directly to the effort which you put into your studies. Attendance, defined as completing assignments on time, is critical to your success. Dates are published for the last opportunity to complete various assignments such as chapters to read, and tests and exams to complete. These dates will not be extended. A student that stops attending (completing assignments on time) during the semester, and does not withdraw, will be assigned a grade of “FA” - Failure, attendance related (unofficial withdrawal).  A student that never attends, and does not withdraw, will be assigned a grade of “FN” - Failure, never attended class (unofficial withdrawal). A student must withdraw officially from a course or the college rather than stop attending. Please refer to the most recent Nashville State catalog for information on withdrawing.

HONESTY
Plagiarism, cheating, and other forms of academic dishonesty are prohibited. Students guilty of academic dishonesty, either directly or indirectly through participation or assistance, are immediately responsible to the instructor of the class. In addition to other possible disciplinary sanctions which may be imposed through the regular institutional procedures as a result of academic misconduct, the instructor has the authority to assign an “F” or a “zero” for the exercise or examination or to assign an “F” in the course.

ADA POLICY
As a public higher education institution, Nashville Tech adheres to the Americans with Disabilities Act. If you require an accommodation in order to function effectively in this class, please contact me about it before the end of the first week of the semester.