Principles of Macroeconomics: ECO201

Transcription

1 Principles of Macroeconomics: ECO201 Gogebic Community College E4946 Jackson Road Ironwood, MI (906) or Instructor: Dennis Mackey Office: B010, Solin Center for Business Education Phone: (906) , extension 244 (toll free ) Textbook: The Macro Economy Today 13E written by Bradley Schiller ISBN # A calculator will be helpful for homework, in class assignments, quizzes, and tests. Course Description: This course is designed to provide a study of aggregate behavior; how consumers, businesses, and society choose, and what determines the level of output that our economy chooses. Topics include GNP, GDP, unemployment, inflation, monetary policy, fiscal policy, & national debt. This course fulfills a social science requirement. Student Learning Outcomes I. Review the core issues of economics and the major components within II. Measure the macro outcomes of an economy III. Identify cyclical instability that members face IV. Use fiscal policy tools to measure efficiency V. Observe monetary policy options available Week one - Analyze scarcity the core problem - Production possibilities - Economic Growth - Basic Decisions - The mechanisms of choice Week Two Review American production - What produced? - How produced? - For whom produces? Week Three - Define supply & demand - Market Participants - The circular flow Course Objectives

2 - Equilibrium - Market Outcomes Week Four - Analyze government involvement - Market Failure - Growth of Government - Taxation - Government Failure Week Five Accounting for national income - Measures of output - The uses of output - Measures of income - The flow of income Week Six - Measuring unemployment - The labor force - Measuring unemployment - The human costs - Defining full employment - The historical record Week Seven Dissecting the impact of inflation - What is inflation? - Redistributive effects of inflation - Macro Consequences - Measuring Inflation - The Goal: Price stability Week Eight - Completing The Business Cycle - Measure stability - Historical cycles - A model of the Macro Economy Week Nine - Determining aggregate demand - Macro equilibrium - Consumption - Investment - Government & net export spending - Macro failure Week Ten Adjusting to instabilities - Leakages & injections - The multiplier process - Adjustment to an Inflationary GDP Gap

3 Week Eleven - Dissecting fiscal policy - Taxes & spending - Fiscal stimulus - Fiscal restraint Week Twelve - Analyzing Deficits & Debt - Budget effects of fiscal policy - Economic effects of deficits - Economic effects of surpluses - The accumulation of debt - Burden of debt Week Thirteen - Evaluating money & banks - What is Money? - The money supply - Creation of money - The money multiplier - Banks & the Circular Flow Week Fourteen - Reviewing The Federal Reserve - Structure of the Fed - Monetary Tools - Increasing the Money Supply - Decreasing the Money Supply Week Fifteen - What is Monetary Policy - The Money Market - Interest Rates & Spending - Policy Constraints Please note: The above schedule is tentative; due to extenuating circumstances we may vary from the times listed in the outline during the semester.

4 Standards of Achievement: Chapter Tests/Quizzes = 25% Multiple Chapter Exams = 60% Participation =15% ** Grading Basis A = 91.5% - 100% A- = % B+ = 85.5% % B = 81.5% % B- = 79.5% % C+ = 75.5% % C = 71.5% % C- = 69.5% % D+ = 65.5% % D = 61.5% % D- = 59.5% % F = Below 60% or Cheating!!!! ** Students completing all course requirements within the time frames allotted qualify to receive the full 20% toward one s final grade. Those students with missing and/or late assignments will be reduced accordingly. Attendance, Cell Phones, & Cheating!!! The attendance policy for this course will follow the guidelines in the GCC Student Handbook. Students late for class are welcome, but please do not disrupt class when entering. A student who is regularly absent, late, and/or disruptive will be subjected to a meeting with the instructor and the Dean of Students. The use of cell phones is allowed during class time within reason! As a courtesy to others please remember to turn your phone (ringer) off before class! Dishonesty of any kind, including cheating on examinations or any assigned work, may be dealt with in any manner deemed suitable by the instructor, including the recording of a failing grade for the course. Cheating on examinations may also result in the student appearing before the Student Personnel Committee and possible suspension from school if circumstances warrant. Academic Support Services ACES (Academic Center for Enrichment Services) This is our tutoring lab located on the 2 nd floor of the technical building. Students will need to check at ACES to find tutor hours available for the semester. Computer Labs The computer labs are located on the 2 nd floor of the Solin Center for Business. The labs are available during College open hours unless a class is being conducted in the lab at that time. Students may access the Moodle aspect of the course at Instructor Office Hours Go to the course website under Moodle to and click on Instructor Profile to find my office hours and contact information for the semester.

5 Disability Statement Disability statement: "Gogebic Community College abides by the American with Disabilities Act and Section 504 of the Rehabilitation Act of 1973 that prohibits federal and state agencies or programs from discriminating against qualified individuals with disabilities. Students in this course who have a documented disability, that limits a major life activity which may have some impact on your work in this class and for which you may require accommodations should meet with a counselor in Disabled Student Services and Program (DSP&S) as soon as possible. ADA Accommodation Statement for Students with Disabilities If you believe that you need academic accommodations for a disability that qualifies under the Americans with Disabilities Act and Section 504 of the Rehabilitation Act, please contact the Office of Disability Services, located in office T105C of the ACES Center, call x 237, or jessicaln@gogebic.edu to discuss your needs and the process for requesting accommodations. This office is responsible for coordinating disability-related academic accommodations and will issue students with verification letters as appropriate. Since accommodations may require early planning and generally are not provided retroactively, please contact the office as soon as possible.