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MACROECONOMICS                                                                                                           IRVINE VALLEY COLLEGE
Martha Stuffler                                                                                          Web Page: http://www.ivc.edu/faculty/mstuffler
Office B271, Telephone:  (949) 451-5759             
Office Hours:  TTh 11:00 a.m. -- 12:30 p.m. and W 6:00-8:00 p.m. online
Email:  mstuffler@ivc.edu                                                                                                

                                                          SYLLABUS AND COURSE OUTLINE

Macroeconomics studies economic aggregates such as Gross Domestic Product, income, inflation, and unemployment.  Concepts discussed include business cycles, diverse macroeconomic theories, fiscal and monetary policy, international trade and finance, and the Federal Reserve System.  We employ basic mathematics and use graphs throughout this course.

STUDENT LEARNING OUTCOMESUpon completion of this course, you will be able to:

1.    Define the economic problem of scarcity and explain how it relates to the concepts of choice and costs.

2.    Examine a production possibilities model to demonstrate efficiency, opportunity cost, scarcity and economic growth.

3.    Define and quantitatively depict and analyze the economy in terms of GDP, NDP, NI, PI and DI, in both real and nominal terms.

4.    Use the Aggregate Demand and Supply model to assess and interpret the affects of fiscal and monetary policy on output, price and unemployment.

5.    Compare and contrast the interaction of monetary and fiscal policies as they are applied to the problem of economic stabilization.

6.    Determine the effects of fiscal and monetary policy on the budget balance and the national debt.

7.    Differentiate among alternative economic approaches to explain and predict changes within the economy.

8.    Define and calculate real GDP, the inflation rate, the unemployment rate, and the economic growth rate and interpret changes in these variables.

9.    Explain the banking and monetary system and analyze the role of money, credit conditions and monetary policy in economic stabilization.

10.  Determine the effects of the foreign sector and exchange rates on the macro economy.

REQUIRED MATERIALS
:

Macroeconomics Resource Guide, 7th edition, 2014, new and unused, by Martha Stuffler outlines course lectures, organizes the structure and format of classroom presentations.  Each student must use their own copy of the Resource Guide during each class to record lecture notes, complete problems, perform graphical analysis and participate in problem solving and class discussions.  In addition, the Guide provides hundreds of practice problems and homework assignments. 

The textbook, Principles of Macroeconomics,1st
edition Mateer and Coppock 2013 supplements the course lectures, but does not need to be brought to class.

A calculator
(or you may use your cell phone) and the Resource Guide must be brought to every lecture

Three Scantron Forms No. 882 for the three exams.


Access to your IVC email account (or forward your IVC email, instructions on my webpage) and MySite.

ASSESSMENTS:  Exams are application-oriented and in-depth using multiple choice, short-answer, essay, and graphical analysis based on material covered in lectures and if assigned, outside readings.  Students must complete all parts of the three exams or earn an "F" grade for the course. 

Students must complete all exams on the date and time with the class for which they are registered.  The instructor does not give make-up exams.  If you cannot attend your scheduled exam with advance notice to the instructor, you may take the exam early. If you miss an exam, since no midterm score may be dropped for grade calculation, you must drop the course or earn an "F".

                                     Points Possible/Percent

     Midterm 1                         100                25%

     Midterm 2                         100                25%

     Final exam                       100                25%

     Graded Homework           100                25%

                     Total                 400 points = 100%

 

Homework assignments are tear-out sheets in the back of the Resource Guide. They are collected at the beginning of class on the due date.  Late assignments, if accepted, will bear opportunity costs of a decreased point value.  Any assignment not turned in to the instructor during class and later discovered in the instructor's mailbox will be late or may not be accepted. 

No assignments will be accepted for any reason if these assignments have been returned to any class.  Missed assignments may not be made up.

GRADING:  Total possible points for the course are 400: 

A = 360 or more points      (90% or higher)

B = 320 to 359 points        (80% but less than 90%)

C = 280 to 319 points        (70% but less than 80%)

D = 240 to 279 points        (60% but less than 70%)

F < 240 points                   (Less than 60% or for cases

                                              of academic dishonesty)

Academic dishonesty includes turning in work that is not your own; removing test questions or other test material from the classroom; discussing test material with students who have not taken the exam; looking at another student's assignment or test and copying their answers, etc.  Students should read and understand this syllabus and the Student Code of Conduct in the class schedule.

The instructor retains graded materials that have not been returned to students for 90 days after grades have been posted. If any student wishes to review these materials used for grade determination, the student must contact the instructor before this date.

ATTENDANCE: Students are responsible for all lecture material and assignments given.  If you miss class, ask another student to get assignments, fill in Resource Guide notes, and gain any other information missed.  Your instructor does not provide a copy of notes that you have missed.

If you decide to drop the course, it is your responsibility to drop the course through Admissions and Records.  Deadlines for dropping courses are shown in the class schedule.  Any student who does not complete the course and does not drop the course will earn the grade of "F". The instructor reserves the right to drop any student who misses more than three classes.

EDUCATIONAL PHILOSOPHY:  A student learns best when he/she knows what is expected and is presented with a challenge.  I will do my best to present complex material in a simplified manner.  I need your classroom participation to know whether or not you grasp the material.  I do not believe in surprises on exams, but they will test your knowledge in-depth.  I will help every student who is sincerely trying to pass the course.  You may reach me by phoning my office or meeting with me during office hours or by appointment.  Please do not hesitate to ask for help at any time.

INSTRUCTOR MESSAGES:  If you need to reach me, call my office telephone (949) 451-5759 during office hours or leave a voice mail message.  I will return your call as soon as possible.  Meet with me during my office hours or by arranged appointments.  Please do not leave messages for me with office staff. 

SUGGESTIONS FOR SUCCESS: 

1.  Attend each class meeting and complete the lecture material required in the Resource Guide

2.  Complete the Practice Questions and Assignments in the Resource Guide.

3.  Use the Launch Pad online resources that come with the textbook which include Learning Curve quizzes, video lectures, Students Tutorials and Assessments.  These online resources help you to prepare for exams and homework assignments and will confirm your strengths or identify areas where you need more study. 

4.  Tape record lectures, replay to reinforce learning. 

5.  Ask questions during lectures. 

6.  Expect to spend and dedicate 6 hours in home study per week to be successful in this course. 

7.  Form study groups to discuss and apply concepts.

8.  Read the Resource Guide material and the textbook within 24 hours AFTER the lecture.  Reread the material at least once before exams. 

9.  If you have not taken Econ 1 or 20, read textbook chapters covering supply and demand at home to provide material you will need to understand.    

10. Students dissatisfied or unsuccessful on the first exam must meet with me to discuss their progress. 

READING ASSIGNMENT AND TEST SCHEDULE:  This schedule is tentative and is subject to change at the instructor's discretion based on the pace that we are able to maintain.  Chapters are listed in the textbook and Lessons are in the Resource Guide.

Unit One: Read Chapters 1, 6-8, and Lessons 1–4

Day 1 – Lesson 1 Introduction to Economics

Day 2 – Lesson 2 Production Possibilities Curve

Day 3 – Lesson 3 Introduction to Macroeconomics

Day 4 – Lesson 4 National Income and Product Accounts

Day 5 – Lesson 4 and Unit One Test 

Unit Two:  Read Chapters 13-16 and Lessons 5-8

Day 6 – Lesson 5 Aggregate Demand and Aggregate Supply  

Day 7 – Lesson 6 History of Macroeconomic Theory

Day 8 – Lesson 6 and 7 The Keynesian Multiplier and Fiscal Policy

Day 9 – Lesson 7 The Keynesian Multiplier and Fiscal  Policy

Day 10 – Lesson 7 and 8 Federal Budget and Fiscal Policy

Day 11 – Lesson 8 and Unit Two Test

 Unit Three:  Read Chapters 17, 18, 11, 20 and  Lessons 9-12

Day 12 – Lesson 9 The Banking System and Money

Day 13 – Lesson 9 and 10 Financial Markets and Monetary Policy

Day 14 – Lessons 10 and 11 Economic Growth

Day 15 – Lesson 11 Economic Growth

Day 16 – Lesson 11 and 12 International Trade and Finance

Day 16 – Lesson 12

Final Exam
 

Note:    For the 8 week course, each class day shown above covers one week of course material for a comparable 16 week class.  The final exam will be held on the last class meeting. 


 

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