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Course Description Introduction to Macroeconomics Econ 102 – Fall 2007 Dr. Philip J. McLewin Voice: 201.684.7041; Office: ASB 326 Web page: http://phobos.ramapo.edu/~pmclewin/PM_F07/macrointro07.htm Why should I take economics? Economics is an exciting field of study because economic forces affect much of what happens in our lives – as consumers and producers and, yes, as students. What you pay for tuition and books, for instance, or how much you earn on a job -- or even if you can find a job – depends on the state of the economy and economic policy . Economics is also an intellectually rigorous and demanding discipline providing you an opportunity to demonstrate a capacity for analytical thinking and problem solving. These are crucial marketable skills which add significantly to the value of your education as you start your career. In macro-economics the focus is on the market system as a whole. This directly affects how corporations, unions, governments, and community and social services agencies function. It also determines the general condition of the job markets, employment and inflation. Learning goals for this course . . . you should be able to: The economy in context: Write an essay or successfully complete a test about essential features of modern capitalism, including private property, the market system, and the roles of government, households, corporations, money and the financial system. The economy measured: Identify and calculate macroeconomic measurements of unemployment, price inflation, gross domestic product and inequality. Write an essay or complete a test about the trade-offs that exist in reaching macroeconomic goals The economy explained: Write an essay or successfully complete a test using elementary macroeconomic models of the economy Create and manipulate analytical graphs derived from economic theory and interpret macroeconomic data and descriptive graphs Identify competing explanations between classical/monetary economics and Keynesian economics The economy changed: Write an essay or successfully complete a test exploring macroeconomics as a policy science by applying theoretical knowledge to every-day policy issues, with an emphasis on monetary and fiscal policies. Identify the role of the Federal Reserve Bank in stabilizing the economy The learning environment: Complete in-class exercises in groups designed to create a student-centered learning environment. Identify the similarities between this class and others you are or have taken (integration) Use a wireless response system to register your responses and opinions about the subject matter. Write a reflective essay on what your learned and how you best learned it Argue with your parents or friends about important macroeconomic issues and see yourself as more confident about your ability to learn this material and be less intimidated by it Your grade will be based on the following scale: Activity Weight (%) Points Test 1 [multiple choice & essay] 20.0 100.0 Test 2 [multiple choice & essay] 20.0 100.0 Test 3 [multiple choice & essay] 20.0 100.0 Test 4: Make-up [optional] [no essay] Replace one from above Final [multiple choice & essay] 20.0 100.0 Work in progress [before class] 5.0 25.0 Group learning activities [during class] 5.0 25.0 Attendance 5.0 25.0 Class participation 5.0 25.0 No fault quizzes [see below] Extra Credit Total 100.0 500.0 Tests and the final exam will consist of multiple-choice questions and short answer essays. An optional make-up [Test 4] will allow you to replace your lowest test score. If you miss a test or do poorly on one, you may use Test 4 to make it up. “Work in progress” and “group learning activities” are not graded, but must be handed in on time. Extra Credit [this is it – do not request additional assignments!] No fault quizzes: Most class sessions will have questions to answer. I will accumulate your right responses and, based on your performance, give you up to five points extra credit on the next test – this is “extra credit” over and above your graded score. If you do not get many of the daily questions right, it does not count against you (that is why it is “no fault”), and the ones you got right still help you. Attendance policy: Each time you attend a class session you will earn points; you must click-in with your wireless response pad before I close attendance window. If you have an attendance issue, contact me in advance by telephone or e-mail (unless, of course, it is a genuine emergency, but even then make sure someone contacts me soon afterward). Books & clickers: Download Chapters 1 to 12 of the textbook Macroeconomics in Context (Global Environment and Development Institute, Tuffs University, 2006) available without cost at: http://www.ase.tufts.edu/gdae/publications/textbooks/macroeconomics.html From the college’s bookstore purchase a CPS clicker, a Classroom Response System wireless response pad that looks like a stripped down TV remote [eInstruction, 888-333-7532] Activate your clicker on line at www.einstruction.com, the fee is $15. More detailed instructions are on the course web site, or call the toll-free number above. You will need to use the appropriate class key: o TF 9:45 section: class key = L30429L766; class name “Macro TF 945” o TF 11:30 section: class key = K30437H564; class name “Macro TF 1100” o WED 8:00 section: class key = I30438H714; class name “Macro WED 800” The Wireless Response Pad [Classroom Performance System – CPS] The wireless response pad is a hand held device that enables you to respond electronically to questions, issues, problems I pose in the classroom. There is instant feedback showing class results. I expect to use it at least once in every class session, usually more often. Sometimes the activity will be graded, other times not. You must bring it with you every time, otherwise your presence will not be acknowledged if any graded activity takes places that day. I cannot accept any excuses for leaving it elsewhere. Academic Integrity: Students are expected to read and understand Ramapo College’s academic integrity policy, which can be found in the College Catalog. Members of the Ramapo College community are expected to be honest and forthright in their academic endeavors. Violations of the policy will be sanctioned. Students with disabilities: If you need course adaptation or accommodations because of a documented disability, please make an appointment during my office hours.
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