ECO 2013: PRINCIPLES OF MACROECONOMICS Course

ECO 2013: PRINCIPLES OF MACROECONOMICS
Course Reference Number 154164
SUMMER A TERM 2015
I. GENERAL COURSE INFORMATION
Meeting Time and Location: M T W R F from 12:00 noon until 1:15 pm in HSS Classroom 120
Course Description: ECO 2013 covers basic economic concepts and theories, current economic problems, and
the application of public policy to these problems. We begin the semester with a discussion of core discipline
concepts, a description of today’s US economy, and a presentation of the basic Supply and Demand model for
competitive market analysis. Next, we discuss the Major Macroeconomic Statistics and how their values change
over the business cycle. Then, we build a graphical model of the US economy and use it to explain historical
events and predict the impact of future economic events. Finally, we discuss what the US federal government
can do, through Fiscal Policy and Monetary Policy, to “fix” macroeconomic problems when they occur.
Course Learning Outcomes: This academic year, we have chosen to focus special attention on three topics in
Principles of Macroeconomics. Upon completion of this course the student will be able to:
(1) Identify the three major macroeconomic statistics (Inflation, Gross Domestic Product, and Unemployment)
and explain how each is measured in America today; analyze and explain (a) the diversity of the unemployment
experience across gender/racial/age groups and (b) the impact of inflation across socioeconomic groups
(2) Explain the nature and purpose of Fiscal Policy; identify theoretical examples of Fiscal Stimulus and Fiscal
Restraint, and apply these concepts mathematically to real-world policy situations
(3) Analyze and explain how the price system functions in a market economy, using a competitive product
market model as the frame of reference
Course Structure: ECO 2013 is a three credit hour lecture course. Lectures are used by this professor to (a)
emphasize a subset of important topics from the textbook, and (b) to expand upon a subset of important topics
through applications using current events from the economic and political world. You are expected to be present
for each lecture meeting so you can take notes on the lecture presentation. Print the appropriate Chapter Handout
and bring it with you to class. Handouts will contain a brief outline of the planned lecture as well as graphs,
charts and tables of information that would be impossible or impractical for the student to copy down during
lecture. If you don’t bring the Handouts to class, then you will have difficulty keeping up with the lecture pace.
You will be doing something for a grade almost every single day in this class. You must keep up with the
“outside work” so you can learn the course material in a timely manner. This “outside work” includes:
(1) Reading each assigned textbook chapter while completing the appropriate Chapter Review document. Your
professor uses this document to show you the important terms and concepts to take away from each chapter.
Page
This “outside work” is not collected or graded.
You complete this work to help you learn the course material and perform well on quizzes and exams.
1
(2) Completing the Practice Exercise Set to accompany each assigned textbook chapter. Each Exercise Set is
designed to highlight the important graphical and computational components of each chapter. Use your lecture
notes and textbook to locate the relevant mathematical formulas. Refer to your lecture notes for examples of
similar math and graph problems that were presented in class. Solutions to select problems can be found on the
last page of each Practice Exercise Set, so you can check your work for accuracy.
Course Pre-Requisites: Documented exemption, appropriate placement scores, or completion of developmental
education reading and writing. In addition, this professor strongly recommends that a student successfully
completes College Algebra (MAC 1105) before registering for ECO 2013. Graphing and computational work on
quizzes and exams must be completed WITHOUT the use of a CALCULATOR. Review Syllabus Appendix I
for examples of the graphing and computational skills necessary to complete the coursework in ECO 2013.
Classroom Decorum Policies: The classroom environment must help students focus on learning the
challenging subject matter. The classroom environment must allow the professor to remain focused on doing her
job, which is to share her knowledge of Economics with college students.
(1) Students are expected to arrive on time for class and to fill in seats by the windows first. If you arrive late to
class, please take the first available seat by the door in the classroom. Habitual late arrival will not be tolerated.
(2) Students are expected to remain for the entire lecture period. If you cannot do so, please inform Professor
Sheffield before lecture begins and take a seat near the door to minimize the disruption that your early departure
will cause. Habitual early departure will not be tolerated.
(3) Each student is expected to pay attention to the lecture and take notes on the presentation. You may not
sleep, carry on conversations with classmates, read/work on materials for this class that are supposed to be
completed outside of class, read/work on stuff for other classes, or engage in any form of distracting behavior
during the lecture. Any student engaged in disruptive/distracting behavior will be dismissed from lecture.
(4) Once the lecture has started, no student should walk across the front of the classroom. Such behavior is
disrespectful to the professor and disruptive to the lecture.
(5) If for ANY REASON you need to leave the classroom during lecture, you are expected to take all of your
belongings with you and quietly exit the classroom. Do not return to the classroom. Exit and re-entry during a
given lecture period is strictly prohibited.
(6) Cell phones/smart phones MUST BE TURNED OFF and PUT AWAY once the lecture begins. You may not
leave the classroom during lecture to message/call/text. That’s impossible, right, since your device has already
been turned off and put away!?! If an emergency situation or employment situation requires access to electronic
communication during the lecture period, arrangements must be made IN ADVANCE with Professor Sheffield.
Otherwise, any student violating this Technology Policy will be dismissed from lecture.
(7) Electronic devices MAY NOT BE USED for note-taking purposes in this class. An exception may be
granted by Professor Sheffield if a student has a documented physical disability. Please speak privately with
Professor Sheffield to request this exception.
(8) Professor Sheffield’s lectures MAY NOT be recorded. An exception may be granted by Professor Sheffield
when a student has a documented learning disability. Please speak privately with Professor Sheffield to request
this exception.
Students who comply with these policies are likely to have a “drama free” semester.
Page
This professor believes in the PUBLIC (not private) CORRECTION of decorum policy violations,
so that all students may benefit from a policy reminder.
2
Students who fail to comply with these policies are guaranteed to have a “drama filled” semester.
II. INSTRUCTOR INFORMATION
Instructor: Stacie Sheffield, Professor of Economics
Students are expected to address Professor Sheffield in a formal and respectful manner at all times.
Email: [email protected] (All emails should contain the subject line of ECO 2013 or MACRO)
Email correspondence with a different subject line - or no subject line - will likely be filtered into the “Junk
Mail” folder and go unread. When an email is properly formatted and appears to require a response, Professor
Sheffield usually does so within 24 hours. Responses take longer when email is sent during holidays, over the
weekend, or during any time outside of Professor Sheffield’s normal work hours.
Office Location: HSS Building, 215
Professor Sheffield usually keeps her office door closed to minimize the amount of noise filtering in from the
hallways. During the posted Office Hours, please knock and wait patiently for a response.
Office Hours for Summer A Term (Wednesday, May 6th – Wednesday, June 17th)
Monday
1:30 – 2:30 pm
Tuesday
1:30 – 2:30 pm
Wednesday
10:45 – 11:45 am
Thursday
10:45 – 11:45 am
Friday
1:30 – 2:30 pm
Feel free to visit the office if you have concerns regarding course material. Students should arrive with a welldefined question, since Professor Sheffield does not re-lecture course material during her office hours. When
you have a content-based question, please bring along your textbook, lecture notes and any other relevant
supplemental course materials. Professor Sheffield will use your course materials to help you answer your
question(s). If you do not have a textbook, lecture notes and the relevant supplemental materials with you, then
Professor Sheffield cannot help you with your content-based questions.
Office Phone: (850) 201-8772
Professor Sheffield is usually available at this number during her scheduled office hours; however, Professor
Sheffield does not answer the phone if she has students in the office. Visitors ALWAYS get first priority.
Furthermore, this professor does not return phone calls to students. If you are unable to reach Professor
Sheffield by phone, then contact her by email or visit her office during the designated office hours.
Professor Sheffield’s Syllabus Philosophy: I use the Course Syllabus to clearly outline my expectations for all
students. It is your responsibility to thoroughly read this Course Syllabus so you are aware of my expectations. It
is your responsibility to comply with all the policies and procedures outlined within this document. If you don’t
like some of my policies, or if you even think you might have a problem complying with some of my policies,
then please remove my class from your schedule. My policies and procedures are non-negotiable. All students
are held to the same set of standards – that’s “fair” in my book! I attempt to be upfront, and yes, sometimes
brutally honest with college students. I hope that we’re all “adult enough” to handle it. There will be no
surprises in this course – what you see (and read here) is what you get – nothing more and nothing less.
Page
Professor Sheffield reserves the right to alter syllabus policy if/when conditions warrant an alteration.
Any alterations made to syllabus policy will be announced during lecture.
An official document outlining the policy alterations will be posted to the Course Webpage.
3
If you have a general question - at any time during this semester - you should first look for an answer in the
syllabus. I put tons of information in this document so I don’t have to repeat it a thousand times. If you ask a
question that is answered in the syllabus, then I will simply refer you to the syllabus.
III. COURSE MATERIALS
Required Textbook: The Macro Economy Today, by Bradley R. Schiller, any of editions listed below are OK
13th edition paperback (ISBN 9780077416478)
13th edition loose-leaf (ISBN 9780077416645)
12th edition paperback (ISBN 9780077247409)
11th edition paperback (ISBN 9780073287119)
Each student is expected to purchase (or rent) and use the required course textbook. Please have a copy of this
textbook in your possession no later than Friday, May 8th and bring it with you to each lecture meeting. You will
need the textbook in the classroom to help you complete certain pieces of graded work. You will need the
textbook outside of the classroom to help you complete the ungraded work and to help you prepare for Exams.
There are cost-effective ways to acquire a textbook for this class!
Professor Sheffield will discuss these options during the first class meeting.
Course Webpage:
http://faculty.tcc.fl.edu/hss/sheffields/
Professor Sheffield does not currently use Blackboard or Canvas. This is the webpage where you will find all
Supplemental Course Materials, including this Official Course Syllabus, Chapter Handouts, Chapter Reviews,
Practice Exercise Sets and the occasional Take-Home Quiz. Throughout the semester, additional documents
might be posted to the Course Webpage. It is the student’s responsibility to regularly visit the Course Webpage
to check for new postings. Please make full use of these Supplemental Course Materials. They are not designed
to waste your time! They are designed to help you actually learn the course material and successfully complete
the graded work in this course.
Course Supplies & Organization: Acquire a 3-ring binder (1.5 or 2 inches), a set of 14 tab dividers, and a
pencil case to organize your course materials. The first section in your binder should contain your syllabus and
other administrative documents. The remaining sections in your binder can organize your course materials by
chapter, and I’m planning to cover thirteen chapters with you this semester.
For each assigned chapter, you will have:
(1) A set of Lecture Notes
(2) A Chapter Handout document
(3) A Chapter Review document
(4) A Practice Exercise Set
(5) One or more quizzes
Page
This is just a suggested organizational plan.
You should organize your course materials in whatever manner best suits your individual learning style.
4
All graded work will be completed by the student with a No. 2 Pencil. You must bring several pencils with
functional erasers to each lecture meeting. Many students from previous semesters decided that colored pencils
or a set of markers can be very useful during the “heavy graph drawing” portions of this course. If you get a
zipper-pouch pencil case that’s designed for a 3-ring binder, then you’ll have what you need every day in class.
IV. COURSE GRADING POLICIES
Grading Philosophy: Course Grades are non-negotiable, and you will be assigned the grade you EARN. This
may or may not be the grade you want, need or think you deserve. You earn your grade by exhibiting the
required level of competency with the course material. Your final grade represents your actual performance in
this course, not how you could have performed under ideal circumstances. Examine your priorities and carefully
consider the academic choices you make this semester.
Course Grade Assignment: Final Course Grades are assigned using the standard college scale.
90.00 – 100.00 = A 80.00 – 89.99 = B 70.00 – 79.99 = C 60.00 – 69.99 = D 59.99 and below = F
How do I get my Final Course Grade? TCC posts final course grades to Student Passport Accounts on
Tuesday, June 23rd. If you have a question or concern about your final course grade, then you must bring your
question or concern in person to Professor Sheffield once Summer B 2015 classes begin on Wednesday, June
24th. Relevant office hours will be posted to the course webpage. In order to comply with student information
privacy laws, Professor Sheffield will not discuss any grade-related information or concerns by telephone,
through email, or in the presence of third parties.
Course Grade Calculation: Your Final Course Grade is a weighted average of quiz and exam scores. Please
note that Professor Sheffield does not round up in the assignment of any grade in this course.
Quiz Average: 30% of Course Grade
Midterm Exam: 35% of Course Grade
Final Exam: 35% of Course Grade
This formula is used calculate each student’s Final Course Grade:
GRADE = 0.30 * (Quiz Average) + 0.35 * (Midterm Exam Score) + 0.35 * (Final Exam Score)
As a college student, it is your responsibility to keep track of your grades throughout the semester. Please refer
to Syllabus Appendix II, where you’ll find a convenient little table designed for this specific purpose.
Page
Additional Comments on Grading: Professor Sheffield is a very particular grader. As previously mentioned in
this document, students will complete all graded work in PENCIL. When providing a written response to a
question, students are expected to use complete sentences/paragraphs that contain correct spelling and proper
grammar. When asked to provide a formula, students are expected to provide the entire formula: A + B = C.
Providing only A + B doesn’t cut it here! When asked to show work on a problem, students are expected to
show all of the work necessary to arrive at the correct solution. Some problems may require several steps to
solve correctly. Terminology is very important in Economics. For example, there’s a huge difference between a
“change in demand” and a “change in the quantity demanded”. Students are expected to use the correct
terminology in response to questions and problems. Answers to multiple-choice questions should be written in
the blank provided next to each question number. Failure to follow these and other basic guidelines will result in
a loss of points on your work.
5
As a college student, it is your responsibility to perform the basic calculations required to determine your
“current grade” at any point during this course. DO NOT ask the professor to make the calculation for you.
V. DETAILED INFORMATION REGARDING QUIZZES AND EXAMS
Quizzes: Designed to encourage regular attendance for lectures and to emphasize select course topics. Quizzes
cannot be “made-up” for any reason. If you do not take a quiz, then it is recorded as a ZERO in my grade book.
At the end of the semester, each student’s FOUR LOWEST quiz scores will be dropped. These dropped quizzes
compensate for any reason why you might miss class, be late for class, or submit poor-quality work.
In-Class Quizzes: Will be unannounced and given during the first 15 minutes of the lecture period.
Students are expected to do their own work, but may use their own paper copy of the required course
textbook and their own lecture notes to complete the quiz. No other resources or devices are permitted.
Students are expected to follow the precise instructions printed on each quiz paper. Failure to do so will
result in a loss of points on the quiz.
If you arrive late to class on In-Class Quiz day, then you will still receive a quiz IF there is more than
half the quiz period remaining on the timer. However, you will only have this time remaining to work
on your quiz. IF less than half quiz period remains on the timer, then you will not be given a quiz paper.
If you leave early from class on In-Class Quiz day, then your quiz will not be graded.
Take-Home Quizzes: These may be distributed at the end of the lecture period for overnight completion.
These may be posted to the course webpage for students to print and then complete overnight. Unless
otherwise stated, the rules that apply to in-class quizzes also apply to take-home quizzes: you are
expected to do your own work and may use your lecture notes and textbook to complete the quiz.
Take-Home Quizzes are due at the beginning of the next (or indicated) lecture period – that’s 12:00
noon. This professor does not accept late work. When you show up at 12:01 pm, you’re late for class.
You must be present in class to submit your Take-Home Quiz, and you must remain for the entire
lecture period in order for your Take-Home Quiz to be graded.
Midterm Exam: scheduled for Friday May 29th covering Chapters 1 – 3 and 5 – 7
The Midterm Exam will be composed of 80 – 100 multiple-choice questions. Professor Sheffield will grant her
students fifteen additional minutes to complete the Midterm Exam.
Exam questions may be taken from the Required Course Textbook and any of the Supplemental Course
Materials prepared for use in this class. Exam questions are designed to evaluate student comprehension of basic
definitions and concepts, and measure student critical thinking skills through application of basic concepts and
definitions in real-world scenarios. On certain multiple-choice questions, students will be required to show
computational work in order to receive credit for a correct answer selection. Stated differently, there are certain
exam questions where “guessing” is prohibited. When this “special rule” applies, it will be clearly marked in
bold font on the exam paper.
Page
How do I get my Midterm Exam score? The Midterm Exam should be graded by Tuesday, June 2nd. Professor
Sheffield will bring “grade cards” to class and distribute them to students in attendance. If you do not attend
class on the day that “grade cards” are distributed, then you must visit Professor Sheffield’s office during the
designated Office Hours to pick up your Grade Card.
6
Professor Sheffield will not provide a review sheet for the Midterm Exam, nor will she allocate lecture time for
review in advance of the Midterm Exam. As a college student, it is your responsibility to utilize all course
resources and adequately prepare yourself for the Midterm Exam.
Can I review my Midterm Exam paper? Exam papers are the intellectual property of this professor and will
not be returned to students. You are encouraged to review your Midterm Exam paper in the secure environment
of Professor Sheffield’s office. No appointment necessary – just show up during any of the posted office hours.
By reviewing your work along with the answer key, you should be able to (a) identify the course concepts that
need your further attention and (b) discover areas for improvement in your exam preparation process.
Final Exam: Scheduled for Thursday, June 18th from 12:45 – 2:25 pm covering Chapters 8 – 14
The Final Exam will be composed of 100 – 120 multiple-choice questions. Professor Sheffield will grant her
students ten additional minutes to complete the Final Exam.
Professor Sheffield will not provide a review sheet for the Final Exam, nor will she allocate lecture time for
review in advance of the Final Exam. As a college student, it is your responsibility to utilize all course resources
and adequately prepare yourself for the Final Exam.
The College is responsible for establishing the schedule for Final Exams. Please carefully check your class
schedule and your Final Exam Schedule early in the semester, so you can plan the allocation of your study time
appropriately. Professor Sheffield will not make arrangements for students to take the Final Exam on an earlier
day, later day, or at a different time. A Final Exam may be rescheduled only due to an extreme emergency, and
rescheduling requires the approval of the appropriate academic dean or director.
Exam Day Classroom Policies: Discussed in detail within Syllabus Appendix III. Please review this
document in advance of the Midterm Exam and again in advance of the Final Exam. If you want your exam
paper graded, and if you want to receive full credit for your work, then please comply with these policies.
Extra Credit: Extra credit opportunities are not available in this course. Please do not ask for an exception, as
none will be granted.
VI. ADDITIONAL COURSE POLICIES
Attendance: Taken at the beginning of each lecture period and reported through Starfish as required by College
Policy. Each student is expected to attend each lecture meeting and take notes on the lecture presentation.
Attendance and participation are two of the most significant factors that promote student success at the college
level; therefore, attendance and participation are required elements in this course. Professor Sheffield will
withdraw any student who accumulates FIVE or MORE absences by the college-established withdraw deadline.
Page
Student Withdrawal / Administrative Withdrawal: Students may withdraw themselves from this course no
later than the TCC-established deadline of Thursday, June 4th. Any student who accumulates 5 (five) or more
absences by Thursday, June 4th will be Administratively Withdrawn by Professor Sheffield.
7
What should I do if I miss a day of lecture? The student is responsible for all work and all material covered
during the lecture period, whether or not the student is present for lecture. Professor Sheffield’s PowerPoint
slides are not made available to students. Professor Sheffield does not provide missed lecture notes to students.
If you miss a day of lecture, it is your responsibility to get the missed lecture notes from a classmate. You are
expected to be “caught up” by the next lecture meeting.
Make-Up Exams: Seriously, do we have to go here? There’s a Midterm Exam on Friday, May 29th and a Final
Exam on Thursday, June 18th. You must be present to take these exams.
Exception #1: What if I have required military duty, a mandated court appearance, or observe a
recognized major (Christian, Orthodox, Jewish or Muslim) religious holiday – and this event conflicts
with the Midterm Exam date? Speak with Professor Sheffield immediately, or as soon as you are
notified of the required duty or mandated appearance.
Exception #2: What if there’s a death in my immediate family and the funeral date conflicts with the
Midterm Exam date? Professor Sheffield must be notified no less than 24 hours in advance of the
Midterm Exam. You must provide a copy of the obituary indicating date of death, and you must provide
a copy of the funeral program indicating date of service.
Exception #3: What if I’m so sick on Midterm Exam Day that I have to visit the doctor or hospital? Oh,
it better be a doctor or hospital in Tallahassee. If you’re well enough to “drive home” to see a doctor,
then you’re well enough to take the Midterm Exam. Professor Sheffield must be notified no less than 24
hours in advance of the Midterm Exam. You must provide a copy of the medical documentation
indicating prohibition from work/school. You must provide a copy of your receipt showing payment to
doctor/hospital for these medical services.
Translation: Whether you realize it or not, you’re always better off showing up and taking the Midterm Exam
as scheduled. Professor Sheffield’s Make-Up Exams are three-hour all-essay exams. Any approved Make-Up
Exams will be given on Tuesday, June 16th from 1:30 – 4:30 pm.
* Failure to provide the required advanced notification disqualifies you from taking a Make-Up Exam *
As stated on page 7, the Final Exam in this (or any course) may be rescheduled only due to an extreme
emergency. Such rescheduling requires the approval of the appropriate academic dean or director.
Incompletes: The grade of Incomplete (I) is assigned by this professor in rare circumstances when the Official
Withdraw Deadline has passed, the student has completed all coursework to date, the student has earned a
weighted average grade of C or better on the work, but is unable to complete the remaining work in the course.
If an “I” grade is assigned by this professor, all grades earned by the student carry over to the next semester, and
the student is responsible for completing (on his/her own time) the missing work. An “I” grade is not assigned to
prevent a student’s GPA from falling too low, nor is it intended to be a free pass to start over in this course
without having to pay additional tuition.
Page
* Copying from another student’s academic assignment, quiz or exam
* Possessing or using unauthorized notes, text or other study aids during a quiz or exam
* Talking, whispering or using a cell phone / smart phone during a quiz or exam
* Possessing or using an unauthorized electronic device during a quiz or exam
* Soliciting, obtaining, possessing or providing to another person an exam or portions of a quiz or
exam prior or subsequent to the administration of the quiz or exam
* Unauthorized collaboration: working with other students WITHOUT the instructor’s permission
in the completion of an academic assignment, where the expectation is that the work to be
completed is an individual and independent effort
* Facilitation: intentionally or knowingly assisting any person in the commission of an academic
integrity violation; for example: allowing another student to copy one’s answers during a quiz or
8
Tallahassee Community College Student Conduct Code: It is the responsibility of each student to understand
the various provisions of this code and abide by them at all times. Detailed information regarding TCC’s Student
Conduct Code can be found in the “My Policies” section of the TCC Student Handbook. Professor Sheffield
REFUSES to tolerate any form of academic dishonesty! Academic Dishonesty includes, but is NOT limited to:
exam, giving another student one’s assignment to copy, taking a quiz or exam or completing an
assignment for another student
* Misrepresenting or falsifying class attendance for another student, which includes signing an
attendance sheet for a student who was not present in class
If any such incident takes place this semester, all involved students will receive a ZERO for the academic
assignment in question (a non-dropped ZERO if a quiz). This professor will report the incident to the Student
Conduct and Community Standards Office, where additional academic charges may be brought against the
student(s) involved.
ADA Statement: Tallahassee Community College provides accommodations to eligible students in full
compliance with the Americans with Disabilities Act Amendments Act (ADAAA 2008). Reasonable
accommodations are available for students with a documented disability. If you have a disability and may need
accommodations to fully participate in this class, please visit the Disability Support Services (DSS) Office. All
accommodations MUST be approved through DSS (Student Union, 172). Please stop by or call 850-201-8430 to
make an appointment with a counselor.
Campus Emergencies: TCC is committed to the safety of its students, faculty, staff and visitors, and when
conditions warrant will be in constant communication with the appropriate state and local agencies. Through the
College’s Alerts Website, as well as local radio and television stations, TCC will communicate important
emergency information during weather-related and other emergencies.
Class Cancellation: Whenever possible, Professor Sheffield will inform students in advance if she needs to
cancel a particular lecture meeting. If Professor Sheffield is ill or experiences a personal emergency, the History
and Social Sciences Division Office will post a “Class Cancellation Sign” on the classroom door. This sign may
contain information regarding specific assignments for students to complete during the professor’s absence.
VII. OUT OF CLASS RESOURCES FOR STUDENTS
In addition to the Required Course Textbook and Supplement Resources designed by Professor Sheffield
and posted to the Course Webpage, the following resources are available to students in ECO 2013:
TCC Learning Commons: The TCC Learning Commons has a variety of handouts and reference materials,
and even offers on-site tutoring for individuals and small groups of students. The Learning Commons is open
from 7:30 am to 7:30 pm on Monday – Thursday and 7:30 am – 5:00 pm on Friday.
Suggested Non-Technical Publications: It might be easier to understand complex course concepts if they are
explained to you in everyday terminology. If you think such explanations might assist you, consider one of the
following non-technical publications, all of which are available from Amazon.com for $15.00 or less:
Page
Textbook Publisher’s Website: www.mhhe.com/schiller13e/
Free access to the publisher’s materials is available, regardless of which textbook edition you purchase. Use the
above link and then click on the picture of the “Macro Economy Today 13th edition” textbook cover. On the lefthand side of the screen, about half-way down the page, you will see the Online Learning Center box. Click on
the “student edition” link. On the left-hand side of this new screen, select the appropriate textbook chapter from
the drop-down menu. You can now access multiple-choice quizzes, flashcards and other cool resources.
9
Cliff’s AP Notes Economics: Macro & Micro by Ron Pirayoff (ISBN 076456999X)
Macroeconomics Demystified by August Swanenberg (ISBN 0071455116)
Economics for Dummies by Sean Flynn (ISBN 0470879483)
VIII. PROJECTED COURSE SCHEDULE
Week
#1
Day
Wednesday
Thursday
Friday
Date
May 6th
May 7th
May 8th
Lecture Topic
Review of Course Syllabus
Core Concepts
Production Possibilities
Textbook
None
CH 1
CH 1
#2
Monday
Tuesday
Wednesday
May 11th
May 12th
May 13th
CH 2
CH 2
CH 3
Thursday
May 14th
Friday
May 15th
Three Core Questions: What & How
Three Core Questions: How & For Whom
Introduction to Market Analysis
The Concept of Demand
The Concept of Supply
Equilibrium
Changes in Equilibrium Outcomes
Monday
May 18th
Tuesday
Wednesday
Thursday
Friday
May 19th
May 20th
May 21st
May 22nd
Final Comments on Supply & Demand
Inflation
Inflation
Inflation
National Income Accounting
National Income Accounting
CH 3
CH 7
CH 7
CH 7
CH 5
CH 5
#4
Monday
Tuesday
Wednesday
Thursday
Friday
May 25th
May 26th
May 27th
May 28th
May 29th
Memorial Day Holiday
Unemployment
Unemployment
Unemployment
MIDTERM EXAM
12:00 noon – 1:30 pm
None
CH 6
CH 6
CH 6
CH 1 – 3,
CH 5 – 7
#5
Monday
June 1st
CH 8
Tuesday
June 2nd
Wednesday
Thursday
June 3rd
June 4th
Friday
June 5th
The Business Cycle
Classical Theory vs Keynesian Theory
Classical Theory vs Keynesian Theory
Building the AD/AS Model
Components of AD
Components of AS
States of the Macro Economy
The Expenditure Multiplier
CH 10
#6
Monday
Tuesday
Wednesday
Thursday
Friday
June 8th
June 9th
June 10th
June 11th
June 12th
Fiscal Policy
Fiscal Policy
National Debt
National Debt
Money & Banks
CH 11
CH 11
CH 12
CH 12
CH 13
#7
Monday
Tuesday
Wednesday
Thursday
June 15th
June 16th
June 17th
June 18th
Money & Banks
Federal Reserve
Federal Reserve
FINAL EXAM
12:45 – 2:25 pm
CH 13
CH 14
CH 14
CH 8 – 14
CH 8
CH 9
CH 9
10
W/AW
CH 3
Page
#3
CH 3
SYLLABUS APPENDIX I
PRE-REQUISITE MATH SKILLS FOR ECO 2013
In order to successfully complete the coursework in ECO 2013, the student must already possess these basic
math skills. In addition, for Professor Sheffield’s sections of ECO 2013, the student is required to perform these
calculations on QUIZZES and EXAMS without the use of a calculator or computational device.
(1) Draw and interpret basic graphs on the x-y plane
Price per
gallon
This graph reflects the relationship between
the price per gallon and the number of gas
gallons purchased per week in Tallahassee.
$3.50
If gas is $2.00 per gallon, how many gallons
are purchased per week in Tallahassee?
$3.00
$2.50
If gas is $3.00 per gallon, how many gallons
are purchased per week in Tallahassee?
$2.00
0
42
k
75
k
106
k
139
k
Quantity of gallons
purchased per week
Price per unit
Using the data in this table, plot
the supply curve for blenders.
$70
Price per
blender
$30
$40
$50
$60
$60
$50
$40
Quantity made
per week
200 units
300 units
400 units
500 units
$30
100 200
300
400 500
600
700
Number of units
Page
0
11
$20
(2) Work basic algebra problems
14 + a = 32
Solve for a.
2,500 * x = 10,000
Solve for x.
b / 50 = 4
Solve for b.
30 / c = 0.75
Solve for c.
400 * 5 = y
Solve for y.
z * 4 = 3,000
Solve for z.
(3) Compute the percentage change in a statistic
Suppose the value of a statistic increases from 150 to 200.
Percentage change = ______________________
Suppose the value of a statistic increases from 250 to 300.
Percentage change = ______________________
Suppose the value of a statistic falls from 400 to 300.
Percentage change = ______________________
Suppose the value of a statistic falls from 80 to 40.
Percentage change = ______________________
(4) Convert decimals to their factional equivalents.
Decimal: 0.10 Fractional equivalent __________
Decimal: 0.20 Fractional equivalent __________
Decimal: 0.25 Fractional equivalent __________
Decimal: 0.33 Fractional equivalent __________
Decimal: 0.40 Fractional equivalent __________
Decimal: 0.50 Fractional equivalent __________
Decimal: 0.60 Fractional equivalent __________
Decimal: 0.67 Fractional equivalent __________
Decimal: 0.70 Fractional equivalent __________
Decimal: 0.75 Fractional equivalent __________
Decimal: 0.80 Fractional equivalent __________
Decimal: 0.90 Fractional equivalent __________
(5) Work with complex fractions
=
1 – 0.50
1
=
1 – 0.75
1
=
1 – 0.80
=
1 – 0.90
12
1
Page
1
SYLLABUS APPENDIX II
KEEPING TRACK OF MY GRADES IN ECO 2013
Quiz
Number
#1
Date Taken (if in-class)
Date Due (if take-home)
Due by Monday 5/11
Quiz
Topic
What’s in the Syllabus?
Quiz
Grade
Current
Quiz AVG
#2
#3
#4
#5
#6
#7
#8
#9
#10
#11
#12
#13
#14
#15
#16
#17
#18
#19
Page
MIDTERM EXAM: ___________________
13
#20
SYLLABUS APPENDIX III
EXAM DAY CLASSROOM POLICIES
Please review this set of policies before the Midterm Exam and again before the Final Exam. Some of these
policies are designed to provide a quiet and secure testing environment for students, reducing and/or eliminating
the opportunities for academic dishonesty to occur. Some of these policies are designed to make the grading
process as easy as possible for this professor, so she can provide students with feedback in a timely manner.
A condensed version of these policies will be printed on the front page of each exam paper.
There is NO EXCUSE for ignorance of these policies and/or non-compliance with these policies!
Failure to comply will result in a loss of points on your exam paper.
(1) All exams must be completed within allocated time period. For the Midterm Exam, students will be allowed
a total of 90 minutes to test. For the Final Exam, students will be allowed a total of 110 minutes to test. If you
show up adequately prepared on “Exam Day”, then you should have no problem completing the exam. It is
YOUR responsibility to properly budget your testing time. Life will be full of situations where you face
deadlines and other time constraints. Consider taking my exams to be “good practice” for the rest of your life!
Professor Sheffield will use the same online timer on “Exam Day” that she uses for the In-Class Quizzes. When
the timer expires, all students must bring their exam papers to the front immediately.
(2) You are expected to arrive ON TIME for every class meeting, but especially on “Exam Day”. If you arrive
LATE on “Exam Day”, then you will have ONLY the time remaining to complete your exam. Additional testing
time IS NOT GIVEN to late-arriving students! Keep this in mind: One of your classmates is likely to be a fast
test-taker and finish in probably 35 minutes. Once the first student completes and submits an exam paper, no one
else will be allowed to start taking the exam. This policy is designed to prevent academic dishonesty. It is a
violation of the TCC Student Conduct Code to “solicit, obtain, possess or provide to another person an exam or
portions of an exam prior or subsequent to the administration of the exam”.
(3) Once you have received a copy of the exam paper, you MAY NOT LEAVE THE CLASSROOM for any
reason until you are done with the exam. You need to conduct all of your personal business, visit the restroom,
and get a drink of water before you come to class on “Exam Day”. If you need to leave the classroom before
completing your exam, then your exam paper will be graded “as-is”. This policy is designed to prevent
academic dishonesty. It is a violation of the TCC Student Conduct Code to “solicit, obtain, possess or provide to
another person an exam or portions of an exam prior or subsequent to the administration of the exam” or to
“possess or use unauthorized notes or study aids during an exam”.
Page
(5) Calculators or other computational devices are PROHIBITED on exams in this class. Unfortunately, some
students in previous semesters decided to behave in an academically dishonest manner by programming all sorts
of formulas and other information into their calculators. Given this calculator prohibition policy, the use of any
computational device on an exam in this course is a violation of the TCC Student Conduct Code, which
specifically prohibits “possessing or using unauthorized notes or study aids during an exam”. If I see a calculator
or any computational device out during the exam period, I will confiscate your exam paper and you will be
assigned a score of ZERO for the exam.
14
(4) All cell phones/smart phones and electronic devices must be turned off (OFF means OFF – not on vibrate!)
and put away during the examination period. This professor should not see an electronic device sitting out on a
desktop, window ledge or in a lap during the administration of an exam. This policy is designed to prevent
academic dishonesty. Once again, it is a violation of the TCC Student Conduct Code to “possess or use
unauthorized notes or study aids during an exam”.
(6) Exam papers must be completed in PENCIL, just like every other piece of graded work that you submit this
semester. It is YOUR responsibility to bring several pencils with functioning erasers on Exam Day. Exam
papers completed with ink WILL NOT BE GRADED. Any student in violation of this policy will receive an
invitation to Professor Sheffield’s office, where the student will be required to complete a new exam paper in
PENCIL. A one letter grade deduction will be applied to the exam paper for each class day that passes
until the exam paper is properly completed.
(7) The answer to each multiple-choice question must be clearly written in the space provided next to each
question. If nothing is written in the blank, then you didn’t answer the question. The BEST WAY to answer
these exam questions is illustrated below:
______ 1. The discipline of Economics is primarily concerned with:
A)
Wrong Answer.
B)
Right Answer.
C)
Wrong Answer.
D)
Wrong Answer.
If you clearly print your answer choice in the space provided AND circle it below, then your answer choice is
obvious to this professor. If you change your mind about an answer, completely erase your original choice and
write your new selection in the blank. This professor will not attempt to decipher poor handwriting and
numerous scratch-outs – if she can’t read your answer, then she will just mark it wrong! If one answer is written
in the blank and a different answer is circled below, then she will mark your answer wrong for inconsistency!
(8) As previously mentioned, there will be some multiple-choice questions where students are required to show
their work in order to receive credit for a correct answer selection. These questions will be clearly marked in
bold font on the exam paper. Make sure you show all of the work necessary to arrive at a correct solution.
(9) When you THINK that you’re finished with your exam paper (and if there is time remaining in the testing
period), flip back through the exam and make sure you have answered all of the questions. It’s kind of silly to
leave a question blank on a multiple-choice exam!
(10) When you KNOW that you’re finished with your exam paper, please bring to Professor Sheffield. She will
mark your exam paper as “received” on the Class Roster and note the time at which your submitted your exam
paper. Professor Sheffield will then record on the upper right-hand corner of your exam paper the order in which
your paper was received. This process makes it obvious to Professor Sheffield if she “misplaces” any exam
papers. This process also prevents any potential confusion regarding which students DID or DID NOT take a
particular exam.
Page
15
(11) Once your exam paper has been “processed”, Professor Sheffield will tell you that “you’re good to go”.
Now you are free to leave the classroom! Please gather your possessions and exit the classroom as quietly as
possible, since your classmates might still be working on their exam papers.