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Course Syllabus ECON 2010 - Introduction to Macroeconomics

Fall Semester, 2016 3.0 Credit Hours

(Last updated: 8/20/2016)

Instructor: Garry L. Carroll, M.A. Ed. Phone1: 731-989-1641 voice or text E-mail: glcrroll@memphis.edu

Office Hours: will be 30 minutes prior to class each Tuesday, as this is a hybrid class combining both online and in-class instruction, the standard means for communicating with the instructor is in person before or after class or via course email throughout the semester. Phone calls may be scheduled.

Course Overview:

ECON 2010 - Intro to Macroeconomics (3)

(2110). Nature and functions of the national economy in a global context. Includes consumption and

investment behavior, national income and product determination, fiscal and monetary policy, and

international trade. [G]

Pre-Requisites/Co-Requisites: There are no course pre-requisites to enrolling in this course. However, the student should have a good grasp of basic mathematics and applied writing skills. In general, it is assumed that all students who are registering for Fogelman College classes have successfully completed any pre-requisites or are enrolled currently in any co-requisites associated with this course. Required Texts (and Related Materials):

Principles of Economics, 6th Edition Author: N. Gregory Mankiw Published by: South Western/Cengage Learning ISBN: 978-0-538-45305-9 or 0-538-45305-2 Recommended Texts (and Related Materials): It is recommended (but not required) that students have access to at least one periodical that includes business news (Commercial Appeal, Wall Street Journal, Bloomberg, etc.) Location of Course Materials: This is a hybrid class which means a combination of classroom time and online course time is required. Many course materials (discussion topics, news, assignments, etc.) are located on the eCourseware website. Course Objectives: 1. The student should be able to define scarcity, opportunity costs, demonstrate how they affect economic decisions, and identify those costs in a given economic decision. 2. The student should be able to understand and describe the concepts and measurement of gross domestic product, unemployment, and inflation, and how these variables correspond to the business cycle. 3. The student should be able to understand and describe the difference between short-run business cycles and long-run economic growth and the factors that contribute to each. 4. The student should be able to understand and describe how Aggregate Demand and Aggregate Supply determine macroeconomic equilibrium price and output in the short

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run and the long run.5. The student should be able to understand and describe the following for both fiscal policy and monetary policy: concepts, tools, implementation, limitations, relative advantages and disadvantages, and how each affects aggregate economic activity. 6. The student should be able to understand and describe the arguments pro and con for a policy of laissez-faire versus government activism in the management of macroeconomic policies. 7. The student should be able to understand and describe the concepts of comparative advantage, the balance of payments and its components, and the determinants of exchange rates. Fogelman College: Learning Outcomes for Your Degree This course is designed to help you to meet the overall learning objectives for the BBA degree offered by the Fogelman College. You should take the time to become familiar with the overall learning objectives as a student in the BBA program:

http://www.fcbeassessment.net/LearningOutcomes/BBADegreeLearningOutcomes.pdf

Course Methodology This is a hybrid class which means a combination of classroom time and online course time. Much of the learning will be self-managed and self-paced. This has the benefit of accommodating each student’s unique schedule and learning style. All assignments will be completed online. Professor’s Expectations of Students: In general, you should assist the instructor in creating a positive, supportive environment for learning by staying engaged in the course and actively participating in all online and classroom discussions. Student's Expectations of the Professor: In my role as your instructor, there are certain things you can expect from me including: well-organized and engaging learning experience, response to emails within two (2) business days, and feedback on all work submitted within 7-10 calendar days.

Grading and Evaluation Criteria Over the semester, you will have a variety of opportunities to earn points towards your final (overall) letter grade in this course. This section of the syllabus describes the assessed work you will be doing and how overall (final) letter grades will be computed.

Final Course Grades Final course grades are earned according to the following table:

Grading Scale: Points:

A = 90% - 100% 810 - 900

B = 80% – 89% 720 - 809

C = 70% - 79% 630 - 719

D = 60% – 69% 540 – 629

F = Below 60% Below 540

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Your overall grade for the semester is based on how well you perform on a mixture of formal activities including discussions, quizzes, exams, and unit assignments. A detailed description of each of the assessed activities can be found after the scoring summary table below.

Summary of Graded Activities Points earned on the assessed activities will be distributed as follows:

Deliverable Total Points

Discussion Board (8 @ 24pts each) +33 based on punctual response

201

On-line Quizzes (3@ 33 ) 99

Unit Assignments (4 @ 50pts) 200

Exams (3@ 100pts) 300

Comprehensive Final Exam 100

Total 900 pts

Course Topics: Topics to be covered and Referenced Text Material:

UNITS Title Referenced Textbook

Chapters

Learning Objective

Addressed

UNIT 1

Topic 1 Intro to Econ / Key Principles Chapters 1 and 2 1, 2

Topic 2 Choice, Opportunity Cost and Specialization Chapter 3 2, 3, 7

Topic 3 Demand and Supply Chapter 4 3, 4

UNIT 2

Topic 4 National Income Accounting Chapter 23 2

Topic 5 Inflation and Unemployment Chapters 24 and 28 2

Topic 6 Monetary Policy / Banking Chapter 29 6, 5

Topic 7 Monetary Growth / Inflation Chapter 30 6, 7, 1, 5

Unit 3

Topic 8 Aggregate Demand / Supply Chapter 33 5, 6

Topic 9 Fiscal Policy Chapter 34 1, 5

Topic 10 Economic Trade Offs Chapter 35 2, 1, 7

UNIT 4

Topic 11 Macroeconomics Viewpoints Chapter 36 1, 3, 6

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Topic 12 Economics Growth & Current Events Chapter 25 1, 2, 5, 6

Course Methods:

1. Lecture 2. Discussion (classroom & on-line) 3. Videos (on-line) 4. Unit Assignment Questions & Problems 5. Discussion Board 6. Exams

Schedule of Activities For a complete semester schedule of readings, activities, and due dates for assignments, please refer to the “Semester Calendar” that can be found in the online course area under “Getting Started”.

Final Exam Schedule The final exam for this class will be scheduled according to the Registrar’s academic calendar website.

Course Policies E-MAIL: All students are required to maintain and access their University of Memphis email account (@memphis.edu). You will receive all official course correspondence at this email account. Any inability to receive incoming mail in a timely fashion (e.g., not regularly checking your email, having a “full mailbox” condition, etc.) is the student’s responsibility. Attendance: You are expected to stay active and engaged throughout the academic term and keep up with the schedule of activities. Your full engagement in the class begins on the first day of the semester and should be maintained until the last assignment is submitted. For students receiving federal student loans, any lack of engagement in the course may be treated as non-attendance and potentially impact access to student loans in the future. The class objective is to not only advise you of the course material you will need to be successful in the

"real" business world, but to aid you in developing good work ethics as well. One of the main areas of

concern for companies today is how to encourage good attendance and punctuality. Attendance in this

course is not mandatory but highly encouraged since it has been found that consistent class attendance

highly aids in the success and retention of the class material! Taking detailed notes and participating in

discussions and activities is also encouraged because the student is held accountable for information

provided in class as well as the text. If a student portrays a "good work ethic" by having perfect

attendance, two (2) additional points will be added to the final course grade.

Adding / Dropping: If you have questions about adding or dropping classes, please refer to this page on the Registrar’s website. Academic Integrity: The University of Memphis has clear codes regarding cheating and classroom misconduct. If interested, you may refer to the Student Handbook section on academic misconduct for a discussion of these codes. Note that using a “Solutions Manual” is considered cheating. Should your professor have evidence that

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using a “Solutions Manual” has occurred, he/she may take steps as described on the campus’ Office of Student Conduct website. If you have any questions about academic integrity or plagiarism, you are strongly encouraged to review the Fogelman College's Website on Academic Integrity. Participation: To be successful in this course as a student, you must stay active and involved throughout the entire semester. Students are expected participate in all interactive aspects of the course. You should also regularly communicate with the instructor as part of your overall learning experience, check into the course frequently for announcements (usually on the course home page), and actively participate in threaded discussion events (both formal and informal). You should plan on logging into the course at least three times each week. Classroom or Online Behavior: All participants in the course should be considerate of the other course participants and treat them (as well as their opinions) with respect. The class will operate under the assumption that any and all feedback offered is positive in nature and that the intentions of the person(s) providing feedback are strictly honorable. Insensitivity in this area will not be tolerated. If you have any questions about online communication, you should review the Fogelman College's Netiquette website. Late Assignments: Assignments and projects may be submitted anytime up to and including the date due. Please review all information in this syllabus and related “Course Activity Summary / Schedule” for all due dates for formally assessed work. If your work is not submitted on time, the instructor reserves the option to deduct up to 20% of the grade value for tardiness depending upon the circumstances and appropriate communication between the student and the instructor. Extra Credit: There is no extra credit offered in this course. Your final grade will be computed based on your work on the formal/assessed activities previously described in this syllabus. Reporting Illness or Absence: Due dates and deadlines have been established for each graded assignment. In this course, deadlines are taken very seriously. Please do not wait until the last day to submit assignments or to take quizzes and exams. If an emergency should arise, it is the student’s responsibility to contact the instructor prior to the deadline to discuss the matter. A deadline extension will be considered only if all of the following conditions are met: (1) Extreme emergency and (2) Instructor contacted prior to the due date. Inclement Weather: In the event that inclement weather requires the cancellation of classes at The University of Memphis, local radio and television media will be immediately notified. Additionally, The University of Memphis has established an Inclement Weather Hotline at 678-0888 as well as TigerText, an emergency alert text messaging service to students, faculty and staff. This optional service is used in the event of an on-campus emergency, an unscheduled university closing, or a delay or cancellation of classes due to, for instance, inclement weather. Click Here for information on TigerText. Syllabus Changes: The instructor reserves the right to make changes as necessary to this syllabus. If changes are necessitated during the term of the course, the instructor will immediately notify students of such changes both by individual email communication and posting both notification and nature of change(s) on the course bulletin board.

Student Services Please access the FCBE Student Services page for information about:

Students with Disabilities Tutoring and other Academic Assistance Advising Services for Fogelman Students Technical Assistance

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DISCUSSION BOARD - Each Discussion is worth a max. of 28 points Each Discussion is

worth 24 points for a total of 168 points. An additional 32 points will be awarded for prompt participation in all

seven topics from the rubric in the following manner. Two additional points will be awarded for each original post

and two additional points for the first reply for each discussion board, if made within the first two days of

availability for posting. If all seven post receive the max score an additional four points will be awarded making a

total of 200 possible points for the Discussion Board.

No participation in a discussion board activity will result in a zero for that activity. The Discussion Board

will be graded according to the following rubric:

Criteria 4 3 2 1

Critical Thinking

• rich in content

• full of thought,

insight, and

analysis

• substantial

information

• thought,

insight, and

analysis has

taken place

• generally

competent

• information is

thin and

commonplace

• rudimentary

and superficial

• no analysis or

insight is

displayed

Connections

•Clear connections

to previous or

current

• to real-life

situations

• new ideas or

connections

• lack depth

and/or detail

• limited, if any

connections

• vague

generalities

• no connections

are made

• off topic

Uniqueness

• new ideas

made with

depth and detail

• new ideas

• lack depth

and/or detail

• few, if any new

ideas

• rehash or

summarize other

postings

• no new ideas

• “I agree with…”

statement

Stylistics

• Few grammatical

or stylistic errors

• Several

grammatical or

stylistic errors

• Obvious

grammatical or

stylistic errors

• Errors interfere

with content

• Obvious

grammatical or

stylistic errors

• Makes

understanding

difficult

Activity • Read min. 6

original posts

• Read min. 5

original posts

• Read min. 4

original posts

• Read min. 3

original posts

Replies • Replied to min. 4

Classmates

• Replied to min. 3

classmates

• Replied to min. 2

classmates

• Replied to min. 1

Classmates

Discussion 1- open Aug 23, 7:30 p.m. original post due by 11:59p.m. Aug. 25. Review the following clip

www.youtube.comwatch?v=tVqWcrMPxfy. Then compare it with any other clip of your choice regarding on-

line discussion board etiquette. State which video you thought was most beneficial to you and why. You

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should include the link to your second video. You must make your original post before you can reply to another

classmate's post. You should reply to another classmate's post between Aug. 23 and 11:59p.m. August 28.

Discussion 2- open Aug 23, 7:30 p.m. original post due by 11:59p.m. Aug. 25. Write about yourself. Tell me

and your classmates a brief summary of yourself, your background, your educational background, your

ambitions and goals. You must make your original post before you can reply to another classmate's post. You

should reply to another classmate's posts between Aug. 23 and 11:59p.m. August 28.

Discussion 3- open Aug 30, 7:30 p.m. original post due by 11:59p.m. Sep. 1. Read the Ten Principles again

and choose one to discuss in detail. Which one do you think might be the most important and why? Justify

your answer. You must make your original post before you can reply to another classmate's post. You should

reply to at least two other classmates' posts between Sep. 1 and 11:59p.m. Sept. 11, preferably on two different

days.

Discussion 4- Opens Sept. 13 Original post due before 11:59p.m. Sept 15. In your opinion should the United

States trade with other countries when so many Americans are unemployed? Why or why not? Using your

text and any other authenticated sources justify your answer with as much factual information as possible.

You must make your original post before you can reply to another classmate's post. You should reply to other

classmates posts between Sept. 15 and 11:59p.m. Sept. 25, preferably on two different days

Discussion 5- Opens Sept. 27 Original post due before 11:59p.m. Sept. 29. Unit 2 looks at several statistical

measurements that economists use. Discuss in detail any limitations these measurements might have.

Justify your answers. You must make your original post before you can reply to another classmate's post. You

should reply to other classmates posts between Sept. 29 and 11:59p.m. Oct. 9, preferably on two different days.

Discussion 6- Opens Oct. 18. The Original post is due before 11:59p.m. Oct. 20. In your opinion is the concept

or theory of Minimum Wage (not the price or wage rate) good or bad? Should employers be restricted to

the wages paid or should employees be allowed to work for less than a specified amount? Justify your

opinion of this concept with facts, and details, not just opinions. You must make your original post before you

can reply to another classmate's post. You should reply to other classmates posts between Oct. 22 and 11:59p.m.

Oct. 30, preferably on two different days.

Discussion 7- Opens Nov. 1. Original post due before 11:59p.m. Nov. 3. Since we have discussed the Federal

Reserve Bank and with your current knowledge of the political system; please expound on your thoughts of

how the new congress and the Fed should work together handling our economic policy in the near future in

regards to interest rates, money supply and taxes. Try to think about our class discussions and readings

not just the politics, but also policies. You must make your original post before you can reply to another

classmate's post. You should reply to other classmates posts between Nov. 5 and 11:59p.m. Nov. 13, preferably on

two different days.

UNIT ASSIGNMENTS – Each worth a maximum of 50 points (Subject to change)

Questions for Review / Problems and Applications / Quick Quizzes / In the News / Case Studies: There is no

length requirement – answers should be succinct and with enough content that your knowledge of the material is

proven. Answers must be submitted in the DROP BOX via e-learn before 11:59 p.m. the date due listed below. If

the assignment is submitted late you automatically lose 10 points.

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UNIT Assignment #1 – due September 4th Questions for Review- Assignment 1: Chapter 1- Pages 18-19 - #1 thru 10 Chapter 2- Page 38 - #1, 2, 4, 5, 8, 9, and 10 Chapter 3 Page 60 - #1 thru 7 Chapter 4 Pages 85-86 - #1 thru 8 Problems and Applications Questions: Chapter 1- Pages 19-20 - #3, #9, and #12 Chapter 2- Page 39 - #6 Chapter 3 Page 61 - #3

UNIT Assignment #2 – due October 23th Questions for Review- Assignment 2: Chapter 23 pages 510 - #1, 2, 3,4, 5 and 7 Chapter 24 page 527 - #1, 2, 3, 4, and 5 Chapter 28 page 614 - #1, 2, 3, 4, 5, and 6 Chapter 29 page 641 - #1 thru 10 Chapter 30 page 666 - #1, 2, 3, 4, 6, and 7 Problems and Applications Questions: Chapter 23 page 510 - #1 Chapter 24 page 527 - #2 Chapter 28 pages 615 - #5 Chapter 29 page 642 - #8, and 12 Chapter 30 page 667 - #7

UNIT Assignment #3 – due November 20th Questions for Review- Assignment 3: Chapter 31 page 691 - #1, 2, 3, 4, and 5 Chapter 33 page 753 and 754 - #1, 2, 3, 4, 5, 6, and 7 Chapter 34 page 781 - #1, 2, 3, 4, and 5 Chapter 35 page 807 - #3 thru 5 Problems and Applications Questions: Chapter 31 pages 691- #1 and 2 Chapter 33 pages 755 - #9, and 10 Chapter 34 page 782 - #4, Chapter 35 pages 808 - #7

UNIT Assignment #4 – due November 27th Questions for Review- Assignment 4: Chapter 36 page 830-831 - #1 thru 11 Problems and Applications Questions: Chapter 36 page 831 - #7