Middlesex Community College
Syllabus
Course: ECN 101 (3 Credits)
Course Title: Principles of Microeconomics
Department: Social Sciences
Semester: Spring 2008
CRN: 1133
Lecture Hours: Class members may log on to the WebCT course website anytime.
Location: Online. Class members are expected to log on to the course website each week.
Instructor: Professor A. Payne
Office Hours: by appointment
Office Location: campus
E-mail: Please email the instructor using ProfPayne@yahoo.com and your personal email account. The course mail function is not available on the course site, as the instructor responds much more quickly to emails sent to the above address. Please do not hesitate to send your questions and/ or concerns! In order to have access to this information when the site is down, each class member should print a copy of this course syllabus during the first week of the term.
Text: Principles of Economics, 4th edition
Author: N. Gregory Mankiw
Publisher: Thomson South-Western
CATALOG COURSE DESCRIPTION: An elementary study of the macroeconomic system. A study of the interrelationships among the household, business, and government sectors. An elementary study of output, income, employment, consumption, inflation, fluctuations in the economy, and fiscal and monetary policy. This course should be taken after ECN 102. Prerequisites: MAT 95 required; English 101 and Math 137 recommended.
SCOPE OF THE COURSE: Upon completion of the course, participants will have a basic understanding of the economic system, especially with respect to relatively large economies rather than individual economic units. Objectives include discussion related to economy-wide phenomena, including aggregate supply and aggregate demand.
ADA ACCOMMODATIONS STATEMENT: Class members with physical or learning disabilities who may require accommodations are encouraged to contact the Counseling Office. After disclosing the nature of the disability, class members are urged to discuss their needs with individual instructors. This should be done at the beginning of each semester. Instructors, in conjunction with appropriate college officials, will provide assistance and/ or accommodations only to those class members who have completed this process.
ACADEMIC ETHICS STATEMENT: “At Middlesex Community-Technical College we expect the highest standards of academic honesty. Academic dishonesty is prohibited in accordance with the Board of Trustees’ Proscribed Conduct Policy in Section 5.2.1 of the Board of Trustees’ Policy Manual. This policy prohibits cheating on examinations, unauthorized collaboration on assignments, unauthorized access to examinations or course materials, plagiarism, and other proscribed activities. Plagiarism is defined as the use of another’s idea(s) or phrase(s) and representing that/ those idea(s) as your own, either intentionally or unintentionally.” (Board of Trustee’s Policy 5.2.1)
EVALUATION AND GRADING:
Quizzes – 25%
Discussion – 35%
Field Assignment – 15%
Final Paper – 25%
Quizzes – Each week, class members should read the assigned chapter then take a 15-question multiple-choice quiz, which can be accessed by clicking on “Assessments” at the top of the course home page. Quizzes may be taken up to 5 times, and only the highest score will be recorded. During each attempt, questions will differ. Each week, quizzes are due by the end of the week, which is Sunday at 11:59pm. No late work will be accepted. Class members are strongly encouraged to complete work early, as all quizzes are available at the beginning of the term.
Discussion – At the beginning of the course text, there is a section entitled “Contents in Brief” followed by a more complete section entitled “Table of Contents”. In the Table of Contents there are highlighted articles that appear in red, including “In the News”, “Case Study”, and “FYI”. Class members should select one of these articles from the chapter reviewed that week, and post a response to the following two questions in the Discussion area:
Please note: The response to each question should be NUMBERED and at least one paragraph in length. Standard paragraphs are 3 to 5 sentences. This initial post is due each week by Tuesday at 11:59pm.
Class members must also reply to the initial posts of at least two others. Make sure to distribute replies evenly amongst the group. Replies must be at least 3 sentences in length and should discuss the economic analysis presented by the class member. Sentences such as “I agree” are absolutely welcome, but will not count toward the minimum requirement of 3 sentences that address the economics analysis. Replies that include only statements such as “good job” or “great work” will receive zero credit. Discussion replies are due each week by the end of the week, which is Sunday at 11:59pm. No late work will be accepted. Class members are strongly encouraged to post replies early in the week, although the discussion area will not be available until the start of the week in order to encourage all participants to become very actively involved during the week in which discussion is due.
Field Assignment – The Field Assignment is the term project, and allows class members to become more familiar with current issues within the field of economics. Each individual will select an article from a scholarly book, journal, or magazine and research an aspect of Macroeconomics. Class members will respond to the Field Assignment Questions, then present the assignment to the class by posting the responses in the designated discussion area. Details regarding the field assignment guidelines and due date will be available in a few weeks. Please pay close attention to the weekly announcements that are posted directly on the course home page!
Final Paper – Class members will develop an analysis of the economic impact of one or more macroeconomic factors. The analysis will require that class members utilize concepts from various chapters throughout the text. Each individual will be required to submit a final paper proposal. Details and the due date of the proposal will be available toward the end of the academic term, and an announcement will be posted on the course home page when they are available. Similarly, details and the due date of the final paper will be available toward the end of the academic term, and an announcement will be posted on the course home page when they are available.
GENERAL OBJECTIVES OF THE COURSE
(Statement identifying educational goals of the course)
The class member will become acquainted with:
1. the definition of markets and how markets work
2. concepts of aggregate demand and aggregate supply
3. the interrelationships among the household, business, and government sectors
4. economy-wide phenomena including income, employment, consumption, inflation, and fiscal and monetary policy.
SPECIFIC OBJECTIVES BY 6 INSTRUCTIONAL COMPONENTS
(Statement identifying what the class member will be able to do at the completion of the component)
The class member will be able to do the following:
Introduction to Economics
To define economics and its goals.
To understand how economists look at consumer, producer, and government behavior and their interactions.
To understand how economists conduct research and utilize economic terminology.
To read, interpret, analyze, and create graphs, charts, and tables.
To apply the theory of comparative advantage to everyday life and national policy.
To understand opportunity costs and trade-offs that people face.
The Data of Macroeconomics
To understand how to measure a nation’s income.
To examine how to measure the cost of living.
The Real Economy in the Long Run
To recognize production and growth.
To apply economic analysis to saving, investment, and the financial system.
To identify the basic tools of finance.
To define and measure unemployment
Money and Prices in the Long Run
To discuss economic benefits and challenges of the monetary system.
To critically analyze money growth and inflation.
The Macroeconomics of Open Economies
To understand open-economy macroeconomic basic concepts.
To apply macroeconomic theory of the open economy.
Short-run Economic Fluctuations
To define and measure aggregate demand and aggregate supply.
To analyze the influence of monetary and fiscal policy on aggregate demand.
To explain the short-run tradeoff between inflation and unemployment.
*Professor Payne reserves the right to make changes to the course syllabus at any time.