Florida State College at Jacksonville
Revised: November 2010
ECO2013: Principles of Economics (Macroeconomics)
3 Credit Hours
Term/Year: Spring 2011
Instructor: Dr Reza Sepassi, PhD
Web Page: https://webmail.fscj.edu/owa/redir.aspx?C=a925e7ba31d243c4828301525e6bda9a&URL=https%3
IMPORTANT COLLEGE DATES
Course Start Date: February 07, 2011
Drop with 100% refund March 14, 2011
Withdraw with "W" grade March 21, 2011
Course End Date: April 10, 2011
Additional critical dates for this course can be found by clicking the appropriate term links in the
online calendar at the Florida State College at Jacksonville Website.
This course in macroeconomics presents the foundations of economic analysis; the theory of
economic growth, development, and stabilization; current economic issues; and fiscal and
monetary public policy.
REQUIRED INSTRUCTIONAL MATERIALS
Sachse, A., Barrett, P. (2010). Principles of economics I: Macroeconomics. Jacksonville: Florida
State College at Jacksonville, SIRIUS. ISBN 13: 978-1-931997-28-7 (digital); ISBN 13:
The primary objective of this course is to explore the subject matter of the field and to become
familiar with the vocabulary and concepts.
When you finish this course, you will be able to
Compare and contrast the principles of scarcity, economic cost, and incremental
State the laws of demand and supply and define the terms demand, quantity demanded,
supply, and quantity supplied
Explain the causes of changes in demand and supply and predict the effects of these
changes on the equilibrium price/quantity relationship
Describe the determination of gross domestic product (GDP) and state the relationship
between GDP, net domestic product (NDP), national income (NI), personal income (PI),
and disposable income (DI)
Define fiscal and monetary policy and demonstrate the mechanics of discretionary fiscal
and monetary policy
Specific Learning Objectives. Specific learning objectives are found at the beginning of each
chapter. Use the objectives to identify what the chapter will cover and what you should know
when you are finished reading. In a very real sense, this is much like skimming the headlines of a
newspaper before you delve into a particular story. The objectives provide you with a basic
framework for learning and understanding; however, these objectives should not limit your
knowledge of or interest in the subject.
LEARNING MANAGEMENT SYSTEM (COURSE PLATFORM)
The online component of the course is delivered through the Blackboard learning management
Please use the following checklist to determine your computer readiness. You should own or
have access to
Computer with personal access to the Internet (e.g., computer with a modem or cable
modem connection) and an AMD or Pentium processor and at minimum a 56kbs Internet
An e-mail account
Web-browser software--at least Internet Explorer 7.0, Netscape 4.7, Firefox 3.0 or above
Windows XP or Vista or higher operating system (or MAC OS X or higher)
Plug-ins including Acrobat Reader and Flash Player
Additional hardware including speakers and microphone
If you require specific accommodations to complete this course, contact the Florida State College
at Jacksonville Services for Students with Disabilities. Contact information is available in the
Florida State College at Jacksonville catalog.
FIRST WEEK OF CLASS
You should complete and submit the Learner Agreement indicating that you agree to abide by
the course conditions outlined in the syllabus. You should then introduce yourself to your
classmates on the Discussion Board (Biography).
Students learn through interactions with each other, with the instructor, and with written,
auditory, and visual learning materials. To facilitate interactive learning among learners and
between learners and faculty, a major goal of this course is to encourage the development of
learning communities--that is, to help learners and faculty get to know and better understand
each other. Towards this end, the instructor will post a brief written biography introducing
herself/himself; this will be available online as a part of the first week of class. Learners are
asked to also introduce themselves by posting a brief biography on the Discussion Board--a
picture is also recommended. In addition, a discussion forum (Cyber Café) has been provided to
informally discuss things with other classmates without intervention of the faculty member. The
Cyber Café will also be a useful place to find classmates interested in forming the team required
in this course, if your instructor does not assign you to teams. Finally, the Discussion Board will
contain a place where you can post questions for the instructor.
One discussion board question (DBQ or Discussion Forum), worth 20 points, is included for
each chapter. In all formal discussions, you are to first read the question carefully, post an
answer to the question, read the responses of your classmates, and then post replies to your
classmates. Learners who participate in discussions are likely to experience a higher level of
learning and retention of the information contained in the course. To encourage your active
participation in the course, you will receive credit for your contributions to the Discussion
Forums. All Discussion Forums are posted based on Calendar of Activities (see below).
Your discussion grade will be based upon the thoroughness, accuracy, and insightfulness of your
responses. You will also be graded based upon your use of correct spelling and grammar and
correct sentence and paragraph format (ALWAYS spell check your responses) and the number
and depth of your responses to other student posts.
Your performance in this class will be evaluated in several ways: chapter quizzes, discussion
questions (as noted in the previous section), written assignments, a midterm and final exam and a
team project, All work must be completed on time.
There is a 10 item quiz covering material for each chapter; each quiz is worth 20 points. Upon
completion of the material and activities in each chapter, you should take the online quiz. The
quiz items are drawn from large data bases, and you may retake the quiz as many times as you
choose without penalty. Your goal should be to achieve a score of 80% or higher on each quiz.
The quizzes are not timed. However, all quizzes should be completed based on the schedule
specified by the Calendar of Activities.
Current Events--Extra! Extra! Read all about it!
Every day we hear and read about the economy on the radio, on television, in the newspaper, on
the Web, and in magazines. This assignment is your opportunity to evaluate what an article or
news story has to do with economics. You will complete a short (500 words) briefing on a
selected article or topic and explain how this illustrates a principle or topic in economics. Give a
brief summary of the article; then, tell which part of the article applies to economics and how it
applies. Your article must be recent, within the past 90 days.
Each student will present an article/topic. When? Check the Calendar of Activities. Each week,
you will see an entry such as “Extra! Extra! 1, 2, 3, 4.” This means that in this week, students
with numbers of 1, 2, 3, and 4 will each present an article. How do you know what your number
is? Your instructor will randomly assign your numbers on the first day of class.
This assignment is worth 40 points. In this on-line course, you will submit your Extra! Extra!
assignment to the appropriate assignment drop box for grading and to the designated
Discussion Board area to share with your classmates. Late submission (see CALENDAR OF
ACTIVITIES) will not receive any credit; please do not ask for exception.
Economic Analysis Paper
In this paper, you will explain at least one economic principal you have read about in a short
newspaper, magazine, or journal article. Do not use multiple sources. Your article must be
recent--less than three months old. Do not use advertisements, editorials, blogs, Wikis, or
Websites such as Ask.com or About.com as your source article. The source must be a recognized
newspaper, magazine, or journal article. Online newspapers and magazines are acceptable.
This is NOT a research paper. You are demonstrating in writing that you can recognize economic
principles in the real world, synthesize the concept, and apply it. Do NOT just summarize the
article. Tell how that story or article demonstrates an economic principle. Examples: How does
the article support the simple circular flow model? How does the article support the supply and
demand model? How does the article reflect what we’ve discussed on long-run growth?
This assignment is worth 120 points. In the business world, written work is usually reviewed
and critiqued by other team members. You will work with classmates to ensure that your papers
are peer reviewed prior to submission. The deadline for Economic Analysis Paper is March 01,
2011. One-day late submission will be accepted with 20% penalty (= 24 points). However no
submission will be accepted after the mid night of March 02, 2011.
What topic in macroeconomics would you like to investigate in more depth? Participate in a team
(your instructor will notify you how teams will be formed), select a topic of interest to you and
your team members, and prepare a paper. You may develop your paper in one of the two
1. Conduct a research review of the published literature, and write a concise summary and
evaluation of the research that is related to your area of interest. The review should contain a
description of information with research citations related to your topic of interest. You will
need to include the identification of any theoretical conflicts or controversies related to your
topic; also, any needs or questions for further research should be addressed.
2. The alternative is to identify and conduct a group project that is practical, real world, and
applicable to the learning objectives of this course and then write a paper describing the
project, its execution, and the findings.
All paper or project topics must be approved by the instructor. All completed papers/projects
must be in APA format.
The completed paper should contain a minimum of five pages. A formal paper (option 1 above)
should have a minimum of 10 scientifically recognized references. For projects (option 2 above),
the paper should first briefly explain the relevant economic theory you are applying and then
describe the project and its outcome. Some projects will have their own requirements which will
take precedence over these requirements. The paper should be double spaced and should use a
12-point Times New Roman font.
In addition to the content pages, a title page at the beginning of the paper should contain the title
of your paper, the team name, and the names of the students who participated in developing the
paper, the course number and name, and the term and year. Text should begin on the next page.
Your paper should have a one-inch margin bordering your text on all four sides.
Be sure that you make a copy of your paper; then, submit it as requested by your instructor.
Submit it to the drop box in the Assignments area. Your instructor will review the paper, identify
areas that may need more work, and return it to you in time for the team to make final revisions
before the final due date (see Calendar of Activities for deadlines).
Remember--you must work together with other members of your group in gathering information,
and each team member must contribute to the development of the paper. Following submission
to the instructor, the team leader will post the paper on the Discussion Board, and each student
will have an opportunity to read and respond to the papers.
The grade for the paper will be based on your use of economic theory, the thoroughness,
accuracy, and insightfulness of the coverage of the topic, correct usage of the APA format,
correct spelling and grammar, and correct sentence and paragraph format. (ALWAYS spell
check your paper.) The grade for the project will also reflect your use of data. All team members
will receive the same grade. The course shell contains help in applying the APA format to the
development of the paper and in participating in team activities.
Midterm Exam: The midterm exam is worth 120 points. The midterm is online. It is an open
book, open notes exam. You are limited to 90 minutes for completion. You will lose two points
for every minute you exceed 90 minutes. DO NOT OPEN THE MIDTERM UNTIL YOU ARE
READY TO SIT DOWN AND COMPLETE IT. It is NOT like the quizzes; you have just one
opportunity to take the midterm. Once you open it, the 90-minute clock starts, and you must
complete the exam. DO NOT browse while taking the midterm exam. If you try to navigate away
from the exam while it is open, you will be locked out of the exam.
Final Exam: The final exam is worth 120 points. This exam is limited to 90 minutes for
completion. You will lose two points for every minute you exceed 90 minutes. DO NOT OPEN
THE FINAL UNTIL YOU ARE READY TO SIT DOWN AND COMPLETE IT. It is NOT like
the quizzes; you have just one opportunity to take the final. Once you open it, the 90-minutes
clock starts, and you must complete the exam. DO NOT browse while taking the exam. If you try
to navigate away from the exam while it is open, you will be locked out of the exam.
Your final letter grade will be determined by totaling the points for all of the above activities as
indicated in the chart below.
GRADED ASSIGNMENTS POINTS
Quizzes (12 @ 20 points each) 240
Discussion Board (12 @ 20 points each) 240
Current Events --Extra! Extra! 40
Economic Analysis Paper 120
Team Project 120
Final Exam 120
TOTAL POINTS 1000
A 900-1000 points
B 800-899 points
C 700-799 points
D 600-699 points
F 0-599 points
FN Grade: Students who fail a course due to non-attendance may be awarded an FN grade.
Incomplete Grade: Information about an incomplete (“I”) grade is available in the current
CALENDAR OF ACTIVITIES
Week Topic Dates
Week 1 Introduction to Online Courses
Complete and submit the Learner Agreement (go to
Biography: Please post an introduction of yourself on the
Discussion Board Feb 07- Feb 13
Chapter 1. Introduction
Extra! Extra! Read all about it. Students with
numbers 1, 2, 3, and 4
Chapter 2. Economizing Problem
Extra! Extra! 5, 6, 7, and 8
Week 2 Chapter 3. Economizing Problem Expanded
Extra! Extra! 9, 10, 11, and 12 Feb 14- Feb 20
Chapter 4. Supply and Demand
Extra! Extra! 13, 14, 15, and 16
Week 3 Chapter 5. Business Cycles
Extra! Extra! 17, 18, 19, and 20 Feb 21- Feb 27
Chapter 6. Money
Extra! Extra! 21, 22, 23, and 24
Week 4 Economic Analysis Paper is due
the second day of this week ---------------------→ March 01
Midterm: covers chapters 1-6--------------------
The Midterm is available for 24 hours from 12:00 March 04 – March 05
PM on February 04 – 12:00 PM February 05, but
the duration of the exam is 90 minutes (see page 6)
Rough draft of Team Project due ----------- →
Week 5 Chapter 7. National Income Accounting
March 07 – March 13
Extra! Extra! 25, 26, 27, and 28
Chapter 8. Aggregate Demand / Aggregate Supply
Extra! Extra! 29, 30, 31,and 32
Week 6 Chapter 9. Financial Intermediaries, Banks, and
the Federal Reserve
March 14 – March 20
Extra! Extra! 33, 34, 35, and 36
Chapter 10. The Federal Reserve System and
Extra! Extra! 37, 38, 39, and 40
Week 7 Chapter 11. The Public Sector
Chapter 12. Fiscal Policy March 21 – March 27
Week 8 Spring Break March 28 – April 03
Week 9 Final Team Project is due ----------------------→ April 04
Final Exam: covers chapter 7-12-------------------- April 08 – April 09
The final exam is available for 24 hours from 12:00
PM on March 04 – 12:00 PM March 05, but the
duration of the exam is 90 minutes (see page 6)
FREQUENTLY ASKED QUESTIONS
1. What learning management system is used at Florida State College for the online portions
of this course?
This course is delivered in the Blackboard online course platform.
2. Do I have to have Internet access at home?
Reliable and consistent Internet access is recommended for all online courses. The College also
computer labs available on each campus for students who wish to use them.
3. What if I need special accommodations to take the course?
If you require specific accommodations to complete this course, contact Services for Students
with Disabilities and consider notifying your instructor.
4. How long will I have to wait for a response from the instructor to my e-mail?
Faculty respond to emails within 48 hours.
5. What is proper email etiquette?
Email to other learners and the instructor needs to be addressed in a manner appropriate to polite
interactions. Please review the Netiquette section in the Blackboard orientation folder.
6. What will help me succeed in this course?
Strong discipline and desire to succeed. You’ll need to login to class often during the typical
week, motivating yourself to meet the requirements for success.
Ability to work well independently. You’ll develop the support of fellow learners all taking
the same coursework together, but it will be different than a typical classroom environment.
If you work well independently, your chance of success is higher.
Computer savvy. If you’re not familiar with the Internet and e-mail communication, we
recommend that you take a computer enrichment class prior to enrolling in this course.
Faculty assumes you know how to access and send data on the Internet.
7. What about academic dishonesty?
Academic dishonesty, in any form, is expressly prohibited by the rules of the District Board of
Trustees of Florida State College at Jacksonville. Academic dishonesty incorporates the
Cheating which is defined as the giving or taking of any information or material with the
intent of wrongfully aiding oneself or another in academic work considered in the
determination of a course grade.
Plagiarism which is defined as the act of stealing or passing off as one’s own work the words,
ideas, or conclusions of another as if the work submitted were the product of one’s own
thinking rather than an idea or product derived from another source.
Any other form of inappropriate behavior which may include but is not limited to falsifying
records or data; lying; unauthorized copying, tampering, abusing or otherwise unethically
using a computer or other stored information; and, any other act of misconduct which may
reasonably be deemed to be a part of this heading.
Any student alleged to have committed any act of academic dishonesty as defined herein shall be
entitled to due process as defined in the District Board of Trustees’ Rule 6Hx7-2. 18 prior to the
administration of disciplinary action, including suspension and dismissal.
8. What is the Florida State College Code of Ethics?
Consistent with The Code of Ethics of the Education Profession in Florida, 6B-1.06, Principles
of Professional conduct for the Education Profession in Florida, an obligation to the learner
requires that an individual shall not harass or discriminate against any learner on the basis of
race, color, religion, sex, age, national or ethnic origin, political beliefs, marital status,
handicapping condition, sexual orientation, or social and family background and shall make
reasonable effort to assure that each learner is protected from harassment or discrimination.
9. May I repeat this course?
Learners repeat a course in an attempt to improve a grade previously earned. State Board Rule
6A-14.0301 limits such attempts to courses where a “D,” “F,” or “FN” grade was earned. A
learner has only three total attempts in any course, including the original grade, repeat grades,
and withdrawals. Upon the third attempt in a course, the learner must be given an “A,” “B,”
“C,” “D” or “F.”
When learners repeat a course only the last grade earned is calculated in their cumulative grade
point average (GPA). However, learners with an excessive number of “W” or “FN” grades and
those who repeat courses to improve their GPA may jeopardize their admission to programs in
the Florida State University System (SUS) or other institutions.