William Rainey Harper College

MACROECONOMICS

IN THE GLOBAL ECONOMY

ECO 212 -- Fall 2006-- SYLLABUS
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GENERAL INFORMATION

Office Hours:

See: http://www.harpercollege.edu/mhealy/office/officehours.htm

TEXTS
  • Macroeconomics by Campbell R. McConnell and Stanley L. Brue, 16th edition, McGraw-Hill, 2005

 

  • Study Guide to Accompany McConnell and Brue Macroeconomics by Bingham and Walstad, McGraw-Hill, 2005

 

COURSE DESCRIPTION

Almost every day we hear news reports of economic problems and successes from around the world. All over the world, countries are undertaking economic reforms (often called STRUCTURAL ADJUSTMENT POLICIES) that their leaders believe will provide their citizens with lower unemployment and higher living standards.

This course will cover the area of economics commonly defined as macroeconomics. The main goal of macroeconomics is to gain a better understanding of the causes of, and remedies for, UNEMPLOYMENT and INFLATION, as well as the factors that affect ECONOMIC GROWTH (unemployment, inflation, and economic growth).

We will study these macroeconomic issues in an international context to try to understand the economic reforms many countries are undertaking.

 

BLACKBOARD

All students must log-in to our BlackBoard website, study the syllabus, and take the required 5-point, online, "Syllabus Quiz" before Thursday, Aug. 31.

 

GRADING

The final grade for the class will be awarded according to the following point system:
  • Online Syllabus Quiz (must be taken before Thursday, Aug. 31. go to http://harper.blackboard.com , 5 points)
  • Quizzes (5 quizzes, 10 points each) 40 points [lowest quiz score will be dropped]
  • 3 unit exams (40 points each, 40 multiple choice questions) 120 points
  • Final Exam (Comprehensive, 80 multiple choice questions ) 80 points

 

  • TOTAL: 245 POINTS
Letter grades: 90%=A, 80%=B, 70%=C, 60%=D, below 60%=F

MAKE-UP POLICY

Exams:
Students will be allowed to take an exam at a time other than the scheduled class period only IF:
1. the instructor is notified BEFORE the scheduled exam time AND
2. the student has a very good reason to miss the exam at the scheduled time.

Quizzes:

Since only four of the five quizzes will be included in the final point total, there should be little need to take a quiz at a time other than the scheduled class time.

COURSE OUTLINE: MACROECONOMICS IN THE GLOBAL ECONOMY

NOTE: Do not use this outline as your reading assignments. For the exact reading assignments see: http://www.harper.cc.il.us/mhealy/eco212/assign/assign.htm

UNIT 1

Part 1 Why is the World Moving to Capitalism?

23W *

Transition Economies: Russia and China - An Intro. to the Global Economy

Ch. 4

The Market System

Ch 1, 2

Introduction to Efficiency and to the Study of Economics
* Chapter 23W is online at: http://www.mcconnell16.com

Part 2 How Capitalism Works

Ch. 3

Efficiency and Markets: Supply and Demand

Ch. 5

Efficiency, Equity, and the Role of Government

Ch. 6, 20

Efficiency, Specialization, and Exchange (Trade)

UNIT 2

Unemployment, Inflation, and Economic Growth

Ch 5

Government Finance

Ch. 11

A Model of the Macro Economy: AS and AD

Ch. 8

Introduction to Economic Growth and Instability: UE, IN, & EG

Ch. 7

Measuring Domestic Output

Ch. 17

Economic Growth

Ch 22W *

The Economics of Developing Economies
* Chapter 22W is online at: http://www.mcconnell16.com

UNIT 3

Fiscal and Monetary Policy

Ch. 12

Fiscal Policy and the Multiplier Process

Ch. 13-15

Monetary Policy

NOTE: This outline may be changed! Regular class attendance is needed since changes will be announced in class.

 

ATTENDANCE POLICY

Class attendance is strongly recommended, but not required. Former students have indicated that the material covered in class is very helpful at the time of the examinations.

 

HOW TO PASS ECONOMICS

This is a difficult course! There is an old rule of thumb concerning studying for college courses: on average students should study TWO hours for every ONE hour of class. This is an average, which means some courses require more study time and some less. You may find that economics requires MORE.

The following suggestions should help you learn economics:

  1. Passive reading of the textbook is not very helpful. Read with a pen in your hand and a notebook on which to list, repeat, copy, calculate, etc. ALSO, pay close attention to the TABLES and GRAPHS. THEY ARE IMPORTANT.
  2. Attend class. Your instructor will review the material from the textbook, add additional material, and answer questions. Come to class with your questions and problems. While in class TAKE NOTES and lots of them! We will go fast. If you want something repeated, ASK.
  3. Do problems. The "assignments" web page lists the assigned problems from the textbook and Study Guide. DO THEM ALL. If you can't do a problem ask about it in class or you will do poorly on the quizzes and exams. You will find additional problems on the "review" web page
  4. When doing the multiple choice questions in the Study Guide, it is suggested that you do NOT circle the answers in the book. Rather, write the letter of the answer that you selected on a separate sheet of paper. There are two reasons for doing this: (1) it is easier to grade them since all answers are listed together at the end of the Study Guide chapters, and (2) by not writing in the study guide you can go over the questions again and again without having the correct (or incorrect) answers already marked.
  5. See the instructor for assistance. This should be done EARLY in the semester. The Tutoring Center also offers help.
  6. Keep up. It is easy to get behind. To get a good grade you will have to devote a significant amount of out of class time to studying economics. If you get behind there simply will not be enough time.
  7. Try to APPLY the concepts learned in class to the "real world" including issues in the news and aspects of your personal life.

 

SUMMARY OF IMPORTANT DATES

The following dates are TARGETS only. THEY CAN BE CHANGED!. Any changes will be announced in class at least one week before the scheduled date of the quiz, exam, or paper and posted on the internet.

SYLLABUS QUIZ

Take the 5-point Syllabus Quiz at: http://harper.blackboard.com/
[ECO 212-004-Fall 2006 - MAcroeconomics (Healy)]

Tue., Jan. 24

QUIZ 1

Intro/Ch. 1, 4, 23 :
(5Es, Economic Systems, and Structural Adjustment Programs )

Tue., Feb. 7

NO CLASSES

Lincoln's Birthday

Mon., Feb. 13

QUIZ 2

Chapter 3: Supply and Demand

Thur., Feb. 23

QUIZ 3

Ch. 6/ 20: Trade

Thur. Mar. 2

EXAM 1

Unit 1

Thur., Mar. 9

QUIZ 4

Chapter 11: AS / AD

Thur. Mar. 23

NO CLASSES - SPRING BREAK

Mar. 26 - April 2

LAST DAY TO DROP A CLASS

Mon., April 17

EXAM 2

Unit 2

CHANGED TO:
Tue. April 25

QUIZ 5

Chapter 9, 12: Fiscal Policy

Thur. May 4

EXAM 3

Unit 3

Thur., May 11

FINAL EXAM

Comprehensive

Tue., May 16
9:55 - 11:40