ECONOMICS
2210 -- PRINCIPLES OF ECONOMICS I (MACRO)
SUMMER 2008 INFORMATION SHEET -- DR. HIPPLE
INSTRUCTOR:
Dr. F. Steb Hipple, Professor
of Economics
Office -- Wilson Hall is being renovated. No
temporary office has been assigned.
Phone/Voicemail -- 423.439.5304
Fax -- 423.439.8583
Email -- hipples@etsu.edu
Website -- http://faculty.etsu.edu/hipples
Office Hours – After class at 11:10am, Lamb Hall, Room 343.
TEXTBOOK:
Robin Bade & Michael Parkin, Foundations of Macroeconomics, 3rd
ed
Pearson Addison Wesley, 2007, with “MyEconLab
in CourseCompass”
(“a la carte” loose leaf edition)
WARNING!
Don’t buy the wrong edition, or the wrong version of the textbook.
This course will use the THIRD edition. (The fourth edition will be
available in late June.)
Purchase the text version that is “MyEconLab
in CourseCompass”.
Do not buy the text version that is just MyEconLab.
MEETING TIMES:
ECON
2210-051 -- MTWRF, 9:40am-11:10am, Room 343, Lamb Hall
COURSE DESCRIPTION AND
OBJECTIVES: This is an introductory survey course in economics, and is part of
the Core Curriculum of the University's General Education Program, and the
Business Core Requirements of the College of Business and Technology. The
course will provide a thorough understanding of the fundamental principles of
macroeconomics, and establish a foundation for further studies in economics,
business, and the social sciences.
LEARNING OUTCOMES: At the end
of this course, you should be able to: (1) understand the basic principles of
economics, including the difference between normative and positive economics,
the problem of scarcity, the significance of opportunity costs, and the use of
marginal analysis. (2) understand basic supply-demand
analysis, and follow its application to product, factor, and financial markets.
(3) monitor the functioning of the macro-economy using
business indicators such as gross domestic product, employment and
unemployment, and the inflation rate. (4) comprehend
the nature of the real economy including the concepts of full employment,
savings and investment, and the conditions necessary for economic growth and
higher standards of living. (5) describe the structure and functioning of the
financial system, including how banks create money, the operations of the
Federal Reserve System, and how the FRS conducts monetary policy. (6) use a basic aggregate supply-aggregate demand model to
explain economic fluctuations (the business cycle) and describe appropriate
government responses to cyclical fluctuations. (7) describe
the linkages of the domestic economy to the global economy through
international trade, international investment, and exchange rates.
COURSE ORGANIZATION:
PART 1 INTRODUCTION
Chapter 1. Getting Started
Appendix. Making and Using Graphs
Handout. The Economic Problem and
Economic Systems
Chapter 2. The
Quiz
#1 (Friday, July 11)
Chapter 3. The Economic Problem
Handout. Variables and Relationships
Chapter 4. Demand and Supply
Quiz #2 (Wednesday, July 16)
PART 2
MONITORING THE MACROECONOMY
Chapter 5. GDP and the Standard of Living
Chapter 6. Jobs and Unemployment
Chapter 7. The CPI and the Cost of Living
Handout. The Business Cycle and
Economic Indicators
Quiz #3 (Tuesday, July 22)
PART 3 THE REAL ECONOMY
Chapter 8. Potential GDP and the Natural
Unemployment Rate
Handout. The Financial Markets
Chapter 9. Investment and Saving
Chapter 10. Economic Growth
Quiz #4 (Monday, July 28)
PART 4 THE MONEY ECONOMY
Chapter 11. Money and the Monetary System
Chapter 12. Money Creation and Control
Chapter 13. Money, Interest, and Inflation
Quiz #5 (Thursday, July 31)
PART 5 ECONOMIC FLUCTUATIONS
Chapter 14. AS-AD and the Business Cycle
Handout. Monetary vs
Fiscal Policy
Chapter 16. Fiscal and Monetary Policy
Effects
Chapter 17. The Short-Run Policy Tradeoff
Quiz #6 (Tuesday, August 5)
Chapter 18. Fiscal and Monetary Policy
Debates
PART 6 THE GLOBAL ECONOMY
Chapter 19. International Trade
Chapter 20. International Finance
Quiz #7 (Friday, August 8)
Comprehensive Make-Up Quiz (Friday, August 8)
CLASS MEETINGS: Classes will
begin Monday, July 7, and end Friday, August 8. There are a total of 25
scheduled class meetings. Quiz #7 and a comprehensive make-up quiz will be
given on August 8.
PREPARATION: Assigned chapters should be carefully read
before class meetings. Class lectures will focus on the theoretical and
quantitative aspects of the textbook material.
MyEconLab: This course requires you to
use the MyEconLab (MEL) from Pearson Education.
Pearson is the parent firm of Addison Wesley, the textbook publisher. Our
version of MEL is included in CourseCompass which is
a Blackboard based system. We will have a class website at
www.coursecompass.com.
HOMEWORK ASSIGNMENTS: The homework assignments are a
very critical element in this course. There will be a Homework Assignment in MEL for each Bade & Parkin
chapter that we cover. You can work on the homework assignment until your score
is 100%, and the exercises selected for your homework will be your guide to
mastery of the chapter material. Most quiz questions will be based on the
homework assignments. You should complete each homework assignment before the
quiz, and not be satisfied with any score less than 100%. As an incentive, for
each set of completed homework assignments with a score of 100%, five bonus
points will be added to the quiz score. In addition, your semester average on
homework assignments will count as the equivalent of one quiz towards your
semester grade, so you should do all
of the homework assignments. (The MEL also includes Study Plan which is practice exercises linked to “checkpoints”
within each chapter, and two Sample Tests
for each chapter. You may use these for self study, but they do not contribute
to your semester grade.)
EXAMINATIONS: Seven quizzes will be given during the
semester. You may drop your lowest quiz grade and/or miss one quiz. The quiz
format will be multiple choice questions based on lecture, handouts, assigned
chapters, MEL homework, and class discussions. A comprehensive make-up quiz
will be given at the end of the semester. This is a bonus quiz and can be used
to increase your semester quiz average.
GRADING: Your semester grade
will be based on your six best quiz scores and your homework average. The grade scale is:
"A" = 90 to 100; "B" = 80 to 89; “C” =70 to 79; and etc. If
the class average is below 80, then the letter ranges will be adjusted
accordingly. For example, if the class average is 75, then the letter ranges
are: “A” = 85 and above; “B” = 75 to 84, “C” = 65 to 74; and etc. Plus and
minus grades will be assigned at the end of the semester and show strong or
weak performance within the letter range.
WEBSITE: The class website is at
http://faculty.etsu.edu/hipples. The
website will include the syllabus, handouts, quiz answers and grade
distributions, and announcements. Note
this is not our CourseCompass class website.
ATTENDANCE: Class attendance is expected, and can
actually help you get better grades!
HELP: I will have regular office hours to meet with
you, or by appointment. Please feel free to ask questions. Contact me if you
need help on your reading assignments or problems. Have a good semester.