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Argosy University
Schaumburg Campus
College of Business
COURSE SYLLABUS
B6102
Economic Analysis
Spring 2011 Term II (3/3 – 4/23/2011), Tuesday, 6 – 10 p.m.
Online access: http://www.myeclassonline.com
Students are responsible for checking their email, including Argosy email, and voice messages prior to class for any last
minute changes to the class. It is recommended that students check their messages three times per week during the term to get
updates and other information. To find out if the campus has closed due to inclement weather, call the main telephone number
to listen to any announcement 847-969-4900, and check the Emergency Closing Center at www.EmergencyClosings.com.
If there is a discrepancy between the textbook(s) on this syllabus and the MBS website, purchase the textbook on this syllabus.
Faculty Information
Faculty Name: George A Heyman, CPA, MAS, MBA
Campus: Schaumburg
Contact Information: Ph. 847.553.6118
Email: gheyman@mac.com
Office Hours: Before class and by appointment
Short Faculty Bio: George is a Professor Emeritus of Accounting and Economics. For 30 years he has taught both
undergraduate and graduate courses in Accounting, Economics, and Auditing. He is a CPA and has experience in both
public accounting and industry. Professor Heyman is currently the vice chair of the Ethics committee for the Illinois
CPA Society. He is associated with Leif Jensen and Associates CPAs.
Course Description: This course offers a practical examination of the principles of microeconomics and macroeconomics as they
relate to economic change, fiscal and monetary policies, regulatory action, and competition. Applications of economic principles and
consideration of economic history include international as well as domestic issues.
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Course Pre-requisites: None
Required Textbook:
Mankiw, N.G. (2008). Essentials of economics, 5th ed. Southwestern Publishing, College Publishing.
ISBN-10: 0324590024; ISBN-13: 978-0324590029
Course Length: 7.5 Weeks
Contact Hours: 45 Hours
Credit Value: 3.0
Program Outcomes
1. Communication
1.1 Communicate business concepts effectively, both written and orally appropriate to the audience
2. Team
2.1 Define the attributes of an effective team member and leader and the characteristics of an effective team in reaching specific
business goals
3. Cognitive
3.1 Problem Solving – Given a business problem, select and defend a business solution chosen from specific alternatives
3.2 Information Literacy – Given a business research question, access information from a variety of sources, select appropriate
sources to respond to a business question
4. Analysis/Application
4.1 Integration – Describe the interrelationship of the functional business areas of statistics, accounting, operations, finance,
marketing, and strategy
5. Ethics/Diversity
5.1 Diversity – Identify the issues and challenges related to diversity in current business organizations
5.2 Ethics – Identify the issues and challenges related to ethics in current business organizations
6. Financial Application
6.1 Given a specific business case, choose a financial strategy to reach a business goal
Course Objectives
1. The student will learn the basic framework to develop analytical skills necessary to evaluate the role of the individual in the
economy and make rational assessments of public economic policies.
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2. The student will gain insight into the complex nature of economic problems.
3. In addition to the above objectives, this course will help students develop the following competencies:
a. Define Problems
b. Construct Hypotheses
c. Gather, analyze, and interpret data and information
d. Differentiate between fact and opinion
e. Communicate findings effectively in writing
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Assignment Table
Problems from the chapters will be assigned at the end of each class.
Week Topics Readings Assignments
1 Overview of Chapters: 1, 2, 3 In-class Assignment. Suggested length is 3-5 Paragraphs
3/8 Economics (approx. 300-500 words), or as determined by instructor
Goals for the Economy IP : Independent Project
Graphs GP: Group Project
DB 1.1: (Relates to course objectives 1 & 2)
Discuss why we need to study economics. What is the
economizing problem?
DB 1.2: (Relates to course objective 2)
Discuss what is meant by the 10 economics principles.
2 Scarce resources Chapters: 4,5,6 DB 2.1 What is meant by market equilibrium?
3/15 unlimited demand
Technology & IP 2.1: (Relates to course objectives 3, 5, & 6)
Economics –
Schumpeter. Respond to the statement that if we do not reinvent ourselves our
Supply & Demand economy will not survive.
3 Markets and Welfare Chapters: 7, 8, 9. DB 3.1: (Relates to course objectives 4, 9, & 10)
3/22 Discuss the idea of comparative advantage.
IP 3.1. Answer the question: Do we need a democracy for a
market system or a market system for a democracy?
GP: (Relates to course objectives 6 & 10)
4 Externalities Chapters: 10,11 DB 4.1: Discuss the concept of externalities. Who should pay
3/29 Economics of the for them?
public sector. What is Coase Theorem? How can we use it to make decisions?
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5 Firm Behavior Chapters: 12,13,14 DB 5.1:
4/5 Organization of Explain the different types of business organizations.
Industry DB 5.2: Discuss the different types of markets and when each
market is effective.
6 The economy over all Chapters: 15,16 DB 6.1:
4/12 The data of What is the tradeoff between inflation and unemployment?
Macroeconomics Describe the causes of stagflation.
Inflation
7 Money and Prices. Chapters: 21,22 DB 7.1:
4/19 Why is money important?
IP 7.3-
How could the savings and loan debacle of the early 1980s been
avoided? How are the credit problems of today like the early
1980s?
Market fluctuations. DB 8.1: What are some of the reasons that markets fluctuate?
Graduate Attendance
Students are expected to be punctual to all classes. Absences should only occur for such urgent reasons as ill health or critical
emergency. Whenever possible, students should notify the faculty of these absences in advance. Excessive late arrivals or absences,
regardless of the reason, may jeopardize the student’s academic standing and or class grade at the discretion of the instructor.
A student who does not participate in an online or blended course within the first five days (including weekend days) of a 7.5
week session or within the first ten days (including weekend days) of a 15-week semester, and has not submitted an official Add/Drop
form, will be dropped from the course automatically and receive a refund based on Argosy University Refund Policy.
Except as otherwise required, 33% absenteeism in a course will result, at the instructor’s discretion, in attendance failure. This
is equal to three classes in a 7.5-week course or five classes in a 15-week course. Students with 33% or greater absenteeism in a
course will receive an automatic “F” grade, at the instructor’s discretion. Individual courses may have more restrictive policies in
place and students will be held to the more restrictive policy.
Late Assignments
Late assignments will not be accepted unless approved by the instructor.
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Grading Criteria
Grading Scale Grading Breakdown
A 100 – 93 A surpasses expectations
A- 92 – 90 B exceeds expectations
B+ 89 – 88 C meets expectations
B 87 – 83 D misses expectations
B- 82 – 80 E requirements not met
C+ 79 – 78
C 77 – 73
C- 72 – 70
D+ 69 – 68
D 67 – 63
D- 62 – 60
F 59 and below
Professor reserves the right to make changes
Retain this syllabus for future reference
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Mission Statement
Argosy University Academic Catalog 2010-2011
At Argosy University, our passion is teaching and learning. We develop professional competence, provide opportunity for personal
growth, and foster interpersonal effectiveness. Students succeed because our university community engages and supports them.
College of Business
Mission Statement
Argosy University College of Business is dedicated to providing practical, evidence-based, high-quality, solutions-focused business
programs at the undergraduate and graduate level, as well as continuing business education and specified certificate training to
business practitioners and educators in public, private, and non-profit sectors across industries. All undergraduate and graduate
programs of the College of Business are designed for the business practitioner and business educator, to instill excellence of execution
in knowledge, skills, and ethical values relevant to today’s global business environment. The inherent goal of these academic
programs is to foster values of social responsibility in a supportive, learner-centered environment of mutual respect and professional
excellence.
Library
All resources in Argosy University’s online collection are available through the Internet. The campus librarian will provide students
with links, user IDs, and passwords.
Library Resources: Argosy University’s core online collection features nearly 21,000 full-text journals and 23,000 electronic books
and other content covering all academic subject areas including Business & Economics, Career & General Education, Computers,
Engineering & Applied Science, Humanities, Science, Medicine & Allied Health, and Social & Behavior Sciences. Many titles are
directly accessible through the Online Public Access Catalog at http://library.argosy.edu. Detailed descriptions of online resources are
located at http://library.argosy.edu/misc/onlinedblist.html.
In addition to online resources, Argosy University’s onsite collections contain a wealth of subject-specific research materials
searchable in the Online Public Access Catalog. Catalog searching is easily limited to individual campus collections. Alternatively,
students can search combined collections of all Argosy University Libraries. Students are encouraged to seek research and reference
assistance from campus librarians.
Information Literacy: Argosy University’s Information Literacy Tutorial was developed to teach students fundamental and
transferable research skills. The tutorial consists of five modules where students learn to select sources appropriate for academic-level
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research, search periodical indexes and search engines, and evaluate and cite information. In the tutorial, students study concepts and
practice them through interactions. At the conclusion of each module, they can test their comprehension and receive immediate
feedback. Each module takes less than 20 minutes to complete. Please view the tutorial at http://library.argosy.edu/infolit/
Academic Policies
Academic Dishonesty/Plagiarism: In an effort to foster a spirit of honesty and integrity during the learning process, Argosy University
requires that the submission of all course assignments represent the original work produced by that student. All sources must be
documented through normal scholarly references/citations and all work must be submitted using the Publication Manual of the
American Psychological Association, 6th Edition (2009). Washington DC: American Psychological Association (APA) format. Please
refer to Appendix A in the Publication Manual of the American Psychological Association, 6th Edition for thesis and paper format.
Students are encouraged to purchase this manual (required in some courses) and become familiar with its content as well as consult
the Argosy University catalog for further information regarding academic dishonesty and plagiarism.
Scholarly writing: The faculty at Argosy University is dedicated to providing a learning environment that supports scholarly and
ethical writing, free from academic dishonesty and plagiarism. This includes the proper and appropriate referencing of all sources.
You may be asked to submit your course assignments through “Turnitin®,” (www.turnitin.com), an online resource established to
help educators develop writing/research skills and detect potential cases of academic dishonesty. Turnitin® compares submitted
papers to billions of pages of content and provides a comparison report to your instructor. This comparison detects papers that share
common information and duplicative language.
Americans with Disabilities Act Policy
It is the policy of Argosy University to make reasonable accommodations for qualified students with disabilities, in accordance with
the Americans with Disabilities Act (ADA). If a student with disabilities needs accommodations, the student must notify the Director
of Student Services. Procedures for documenting student disability and the development of reasonable accommodations will be
provided to the student upon request.
Students will be notified by the Director of Student Services when each request for accommodation is approved or denied in writing
via a designated form. To receive accommodation in class, it is the student’s responsibility to present the form (at his or her
discretion) to the instructor. In an effort to protect student privacy, the Department of Student Services will not discuss the
accommodation needs of any student with instructors. Faculty may not make accommodations for individuals who have not been
approved in this manner.
The Argosy University Statement Regarding Diversity
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Argosy University prepares students to serve populations with diverse social, ethnic, economic, and educational experiences. Both the
academic and training curricula are designed to provide an environment in which students can develop the skills and attitudes essential
to working with people from a wide range of backgrounds.
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Acknowledgement of Syllabus Content
I have read and understand the course syllabus for B6102 at Argosy University,
Schaumburg Campus, which is being taught by Professor G. Heyman I hereby agree to the terms stated in this syllabus.
_______________________________________________ ________________________
Signature Date
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Print Name
Student Contact Info:
Address: ________________________________________________________________________
Phones: ________________________________________________________________________
Emails: ________________________________________________________________________
Read, sign, and date this form. Return to your professor at the first classroom meeting.