Macroeconomics
ECON 2010
Course Syllabus

Description: Description: Description: C:\Users\pulliam_q\Documents\NSCC Files\Web Courses\QP Expression Web site\Assets\ECON OSullivan 7th.jpgOur textbook for this semester is Economics Principles & Tools, 7th edition by O'Sullivan, Sheffrin and Perez (there are several versions - ISBN-10: 0132772752 or ISBN-13: 9780132772754 or ISBN-10: 013139343X or ISBN-13: 978-0131393431). 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: Completion of all Learning Support competencies for reading and writing.

COURSE OUTCOMES
After completing ECON 2010, 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.

 

COURSE OUTLINE
    I. Introduction
       A. Introduction: What is Economics?
       B. Key Principles of Economics
       C. Exchange and Markets
       D. Demand, Supply, and Market Equilibrium
   ll. The Basic Concepts in Macroeconomics
       A. Measuring a Nation’s Production and Income
       B. Unemployment and Inflation
  lll. The Economy in the Long Run
       A. The Economy at Full Employment
       B. Why Do Economies Grow?
  lV. Economic Fluctuations and Fiscal Policy
       A. Aggregate Demand and Aggregate Supply
       B. Fiscal Policy
       C. Investment and Financial Markets
   V. Money, Banking, and Monetary Policy
       A. Money and the Banking System
       B. The Federal Reserve and Monetary Policy
  Vl. Inflation, Unemployment, and Economic Policy
       A. From the Short Run to the Long Run
       B. The Dynamics of Inflation and Unemployment
       C. Macroeconomic Policy Debates
 Vll. The International Economy
       A. International Trade and Public Policy
       B. The World of International Finance

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 80 minutes and may use one page of notes (8 1/2 X 11 both sides) for each test or exam. The notes may be configured as you wish - hand written, typewritten or a combination of both. You should schedule a full hour to complete each test or exam. The test is locked if the time expires and the test is not submitted, and you will be unable to do anything further at that point. It is imperative that you save answers as you enter them.

PROCTORS
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. Most towns and cities have acceptable proctors 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 willing to proctor an exam. The proctor must have an email address which clearly reflects the name of the institution and the proctor's name. Please have the proctor contact me for arrangements via email (Quenton.Pulliam@nscc.edu). The proctor must contact me and express a willingness to proctor your exam(s) before I contact her/him. This is a matter of courtesy to the proctor. Additionally, the proctor must have the Respondus LockDown Browser installed on the computer to be used for the exam, be willing to install it, or you will need to furnish a computer with the browser installed. Your arrangements must be completed by the third week of the semester for a 14-week semester course, and by the end of the first week for a 5 or 7-week course.

MISSED TEST/EXAM POLICY
The dates published in the Assignments/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. Occasionally, a student will complete all four required tests and have one low score which will lower the semester grade. As a matter of equity, I do not allow that to happen. I look closely at all test scores for each student before submitting final grades. If one low score will reduce the final grade by a letter, I adjust the student's final grade accordingly.

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%)

You can earn a maximum of 1150 points from a combination of the required tests and exams, and opportunities for extra credit. Extra credit points are included at the end of the semester. For example, if you earn 775 points (C) from tests 1-4, the mid term and final exams, and 50 extra credit points for a combined total of 825 points, you will earn a B in the course.

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

Opportunities for Extra Credit
            Practice Tests: You can earn up to 100 additional points by completing practice tests. You may attempt these as many times as you wish and only the highest score will count towards your grade.            

            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

I have received several plagiarized papers recently. In an attempt to provide a "level playing field" for all students, a copy of all papers will be submitted to Turnitin.com to verify authenticity. Please review the college’s honesty policy.

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.

NSCC POLICIES:

Student Communication Channels
It is the student’s responsibility to check NS Online and MyNSCC email on a regular basis.  These are the official communication channels between the college and students. Students are responsible for the information communicated through those channels.  NS Online contains specific course information and MyNSCC contains information important for other purposes.

Early Warning System
Nashville State Community College has implemented an Early Warning System to notify students via e-mail about academic problems such as poor classroom attendance, poor performance on assignments/tests, poor communication skills, late/missing assignments, and/or lack of classroom participation.  Please note that Early Warning Alerts do not affect a student’s academic standing.

ADA Compliance Statement
Nashville State complies with the Americans with Disabilities Act.  If you wish to request any special accommodations for any courses in which you are enrolled, contact the Student Disabilities Office at 353.3721.

Classroom Misconduct
Nashville State Community College has a zero tolerance policy for disruptive conduct in the classroom. Students whose behavior disrupts the classroom will be subject to disciplinary sanctions. Please consult your Student Handbook for more specific details. The instructor has primary responsibility for control over classroom behavior and maintenance of academic integrity. He/she can order temporary removal or exclusion from the classroom of any student engaged in disruptive conduct or in conduct which violates the general rules and regulations of the College. Disruptive behavior in the classroom may be defined as, but is not limited to, behavior that obstructs or disrupts the learning environment (e.g., offensive language, harassment of students and professors, repeated outbursts from a student which disrupt the flow of instruction or prevent concentration on the subject taught, failure to cooperate in maintaining classroom decorum, etc.), the continued use of any electronic or other noise or light emitting device which disturbs others (e.g., disturbing noises from beepers, cell phones, palm pilots, lap-top computers, games, etc.).

Please be aware that children are not allowed in class or unattended on campus.

Academic Dishonesty (Honor Code)
Any form of academic dishonesty, cheating, plagiarizing, or other academic misconduct is prohibited. “Plagiarism may result from: (1) failing to cite quotations and borrowed ideas, (2) failing to enclose borrowed language in quotation marks, and (3) failing to put summaries and paraphrases in your own words (A Writer’s Reference 331). Academic dishonesty may be defined as, but is not limited to, intentionally trying to deceive by claiming credit for the work of another person, using information from a web page or source without citing the reference, fraudulently using someone else’s work on an exam, paper, or assignment, recycling your own work from another course, purchasing papers or materials from another source and presenting them as your own, attempting to obtain exams/materials/assignments in advance of the date of administration by the instructor, impersonating someone else in a testing situation, providing confidential test information to someone else, submitting the same assignment in two different classes without requesting both instructor’s permission, allowing someone else to copy or use your work, using someone else’s work to complete your own, altering documents, transcripts or grades, and forging a faculty/staff member’s signature.

In addition to other possible disciplinary sanctions that may be imposed through regular college procedures as a result of academic dishonesty the instructor has the authority to assign an “F” or a “Zero” for the exercise, paper, or examination or to assign an “F” for the course. Students may appeal through the appropriate college grade appeal procedures.

Inclement Weather Policy
In the event of an inclement weather event, check the Nashville State web site home page at www.nscc.edu for announcements on campus closures. Campus closures will also be announced on local television stations (channels 2, 4, 5, and 17). When classes are cancelled, an online assignment will be posted in NS Online. Check your NS Online email for a message from your instructor regarding your online assignment requirements. Even though classes may be cancelled, some areas, i.e. Testing Center, may be open. However, you should check before commuting to campus. The Vice President for Academic Affairs and the Director of Security are responsible for cancellation decisions during an inclement weather event for the Nashville State main campus and the Southeast campus. Cookeville, Waverly, and Dickson Campus Directors will make class cancellation decisions based on conditions in their respective areas. Decisions about class cancellations are based on actual conditions, not forecasts. The perspective used for making decisions is that of the college as an employer, not as a K-12 institution. Students should use their own best judgment in determining whether to report to campus during inclement weather when classes are not cancelled.