Economics 101 Sample College Course Outline

Course Outline Principles of Economics I Macroeconomics – ECON 101 University Studies Administrative Information: Campus: Cranbrook Phone: 1-877-489-2687 Revised: January 2008 Program: University Studies Days and times: Tuesdays and Fridays 9:30 a.m. to 11:00 a.m. Instructor: Office: Phone: Email: James Wishart, BA, MA (Economics) 140C 250-489-2751, Ext 8436 wishart@cotr.bc.ca Author: Department Head: Location: Cranbrook Campus Required text(s): Sayre, John and Alan Morris (2006) Principles of Macroeconomics, 5th edition, (Toronto: McGraw Hill) Dean of Instruction: Implementation Date: January 2008 GENERAL COURSE DESCRIPTION: This course presents the economic principles that govern the behaviour of the nation’s economy. Topics include production possibility, supply and demand, national income analysis, money and banking, fiscal and monetary policy, and international trade. Current Canadian economic problems are discussed. This course may be taken with Economics 102 (Microeconomics) and is a prerequisite for Economics 280 (Labour Economics) and Economics 207 (Managerial Economics). RELATIONSHIP TO COLLEGE PROGRAM: This course is intended for University Transfer and Business Administration Diploma and Certificate students. Prerequisites: Co requisites: Principles of Math 11 or equivalent None Prior Learning Assessment: Learners may request formal recognition for prior learning, i.e. course credit, at the College of the Rockies. However, students should be aware that a PLA designation will appear on their transcript and the course may not then be acceptable for transfer purposes. Students should check with the receiving institution before deciding to exercise this option. Learners will be required to write and pass a comprehensive challenge examination to achieve PLA standing. College credit: Transfer Credit: 3 Credits For transfers within British Columbia institutions, please visit http://www.bctransferguide.ca, for transfer to the University of Lethbridge please visit http://www.uleth.ca/ross/admissions/cotr transfer agreements table.pdf Course by course transfer arrangements have also been made with Athabasca University. Please check with a College education advisor to determine course transferability. For professional associations, please visit each professional association website to determine transfer credits. © College of Rockies 1/17/08/do/H:\PSC\OUTLINE\RTF-PDF NewOutlines\ECON101.rtf/2 2 LEARNING OUTCOMES: University Studies at the College of the Rockies allow students to complete their first two years of study towards a university degree. College students gain academic knowledge and skills in their chosen subjects. They also cover general problem-solving and critical thinking skills. The combination can empower them to participate as educated citizens in the economic, political, and cultural life of their communities. Upon the successful completion of this course, you should be able to: • • • • • • • • define the economic problem; analyze national income accounting; calculate and interpret macroeconomic indicators; analyze aggregate demand, aggregate supply, and macroeconomic equilibrium; discuss the aggregate expenditures model; discuss money, banking, and the money market; discuss issues and concepts related to international trade, exchanges rates, and the balance of payments; and discuss fiscal and monetary policy. This course should help you • • • use written and oral communication skills effectively, employment methods appropriate to message and context; think clearly and critically, fusing experience, knowledge, and reasoning into considered judgement; and identify, interpret, and solve problems, effectively implementing and evaluating proposed strategies. ESSENTIAL SKILLS DEVELOPED IN THIS COURSE: Students may develop this skill during my course: Computer Skills • Use email to send and read messages, attach documents • Access COTR’s online learning resources Skills for Busy Students • Manage study time effectively • Use effective note-taking strategies • Develop problem-solving and memory skills Research Skills • Using the library catalogue; renew materials; place holds on resources • Using the internet to locate information; evaluate information from internet sources • Understand what constitutes plagiarism in academic writing • Cite, save, and print information for research © College of Rockies 1/17/08/do/H:\PSC\OUTLINE\RTF-PDF NewOutlines\ECON101.rtf/3 3 COURSE WORK: Delivery: 45 hours lecture and discussions EVALUATION AND ASSESSMENT: 1. Assignments 2. Term Tests 3. Final Exam: Total POLICY ON LATE ASSIGNMENTS: Assignments must be handed in on or before the date and time specified by the instructor. Late assignments will receive a grade of “0”. Extenuating circumstances may be accommodated, but the instructor must be notified on or before the due date. EXAM POLICY: Students must attend all required scheduled exams that make up a final grade, at the appointed time and place. Individual instructors may accommodate for illness or personal crisis. Additional accommodation will not be made unless a written request is sent to and approved by the appropriate Department Head prior to the scheduled exam. Any student who misses a scheduled exam without approval will be given a grade of zero for the exam. Students must pass the final exam in order to pass the course. PLAGIARISM POLICY: Plagiarism – using the oral or written words and ideas of others without proper acknowledgment – is an academic offence. Because plagiarism is a form of academic misconduct, students found guilty face serious consequences. Students who are unsure of what constitutes plagiarism are advised to consult with an instructor or to refer to section 2.4.4 in the College Policy Manual. COURSE GRADES WILL BE ASSIGNED AS FOLLOWS: >90 85 - 8076 - 72 – 68 - 64 - 60 - 55 - 50 - < 50 Mark 89 84 79 75 71 67 63 59 54 (Percent) Grade A+ A AB+ B BC+ C CD F A grade of "D" grants credit, but may not be sufficient as a prerequisite for sequential courses. % of total grade 20% 40% 40% 100% © College of Rockies 1/17/08/do/H:\PSC\OUTLINE\RTF-PDF NewOutlines\ECON101.rtf/4 4 COURSE UNITS: 1. Introduction to Economics and the Canadian Economy 2. Demand and Supply (micro level) 3. National Income Accounting 4. Macroeconomic Data 5. The Aggregate Demand and Supply Model 6. The Aggregate Expenditures Model 7. Money and Banking 8. The Money Market 9. International Trade 10. Exchange Rates and Balance of Payments 11. Fiscal Policy 12. Monetary Policy UNIT OUTLINES: 1. Introduction to Economics and the Canadian Economy Definition of economics, graphs in economics, the production possibilities curve, and the circular flow model 2. Demand and Supply (micro level) Determinants of demand and supply and market equilibrium 3. National Income Accounting Complete circular flow model and measuring national income (expenditures and income approaches) 4. Macroeconomic Data Economic growth, unemployment, and inflation 5. The Aggregate Demand and Supply Model Aggregate demand, supply, and potential GDP and macroeconomic equilibrium (Keynesian and Neoclassical) 6. The Aggregate Expenditures Model Autonomous and induced spending, the multiplier, and expenditures equilibrium (graphically, tabular, and mathematical) 7. Money and Banking Characteristics and functions of money, fractional banking system, and money creation by banks 8. The Money Market Demand for money, supply of money, equilibrium in the money market, changes in money demand, and changes in the money supply (Keynesian and Monetarist) © College of Rockies 1/17/08/do/H:\PSC\OUTLINE\RTF-PDF NewOutlines\ECON101.rtf/5 5 9. International Trade Comparative and absolute advantage and trade restrictions 10. Exchange Rates and Balance of Payments Flexible and fixed exchange rates and the balance of payments 11. Fiscal Policy Counter-cyclical and balanced-budget fiscal policies and the national debt 12. Monetary Policy Tools of monetary policy expansionary and contractionary monetary policy, and stagflation Student Supports Student Services offers a wide range of supports to help students meet their educational, career and personal goals. We are committed to helping students succeed. • Tutorial support through peer tutoring • Aboriginal Services and Resident Elder support. • Assistance with educational and career planning • Assistance in resolving issues that may affect students’ academic performance or college adjustment. • Financial aid • Student employment services • Disability Services provides information, support, and accommodation in all College programs to students with documented disabilities ranging from attention deficit, learning disabilities, chronic health issues, hearing and visual impairments, physical disabilities, and temporary impairments due to accident, illness, or injury Contact Student Services by phone at 489-8243 or 1-877-489-2687 Local 8243 or by email at studentservices@cotr.bc.ca COURSE/PROGRAM COSTS: The tuition fees and any other fees such as student union fees for this course/program are determined by the fee structure for University Studies, Career Technical, or Vocational programs/course. For details of current tuition fees, please check current College of the Rockies Program Guide and/or our website at www.cotr.bc.ca/registration under Fees and Refunds. Please note that some programs/courses require students to pay equipment fees; check specific programs for details. College of the Rockies reserves the right to change fees without notice. Please visit the College Bookstore at www.cotr.bc.ca/bookstore to view the list of textbooks and other learning materials or tools required for the course. © College of Rockies 1/17/08/do/H:\PSC\OUTLINE\RTF-PDF NewOutlines\ECON101.rtf/6 6 FOR FURTHER INFORMATION: Your instructor: James Wishart, 250-489-2751 local 8436; E-mail wishart@cotr.bc.ca Department Head: Sharon Richardson, 250-489-2751 local 3416; E-mail richardson@cotr.bc.ca Dean: Dr. Ardy Smith Miller, 250-489-2751, local 8219, E-mail smithmiller@cotr.bc.ca COURSE CHANGES: Information contained in this course outline is correct at the time of publication. Content of the courses is revised on an ongoing basis to ensure relevance to changing educational, employment, and marketing needs. The instructor will endeavour to provide notice of changes to students as soon as possible. The instructor reserves the right to add or delete material from courses. The timetable may also be revised. © College of Rockies 1/17/08/do/H:\PSC\OUTLINE\RTF-PDF NewOutlines\ECON101.rtf/7 7