Mrs. Lea Templer

Office: HSLH-333

Ph: 661-362-3375

Email: lea.templer@canyons.edu

Office hours: M-W 1-3

T-Th 1-3

Or by Appointment

SPRING 2012

ECONOMICS 201

Course Title: Macroeconomics

Course Credit: 3 units

· TEXT: Economics, 10^th Edition, by Roger Arnold

Student Learning Outcome: Analyze and evaluate the problem of scarcity throughout markets by applying and evaluating the Classical and Keynesian solutions, in terms of growth, inflation and unemployment.

· Supplies: Scantrons: 3 #886 – 1 #882

· STUDENT EVALUATION:

Exams (4 @ 100 points each) 400

Final Exam 100

Current Event 5

Homework Quizzes (10 points each) 0 to 100

Extra Credit (optional) 0 to 25

* The lowest exam score will be dropped. If you miss an exam, then you have self selected the exam that you drop. Exams will not be individually rescheduled. There will be no make up exams. The final exam is required of everyone.

· GRADE EARNED:

A - 90% B - 80% C - 70% D - 60%

• Borderline cases will be evaluated according to attendance (roll is taken in each class session), class participation, homework, and a review of all grades. Width of the border line is self-determined, and is equal to the amount of extra credit submitted.

· EXAMS:

• Unit exams consist of 30 multiple choice questions and 4 short essays/problems.
• Final exam consists of problems relating to material covered during the entire semester. The final exam will part of the last unit test.
• Unit exam dates will be announced one week ahead – exams will be given when unit is completed.

· HOMEWORK QUIZZES:

· Homework quizzes, will be given on the day that the homework assignment is due. The assignments are found on the schedule.

· The lowest two grades will be dropped.

· Each quiz is worth 10 points – no make ups.

· ATTENDANCE - Attendance is taken every day.  After more than four absences, the student may be dropped from the class before the drop deadline.

· CHEATING  - Any  student  caught cheating on an exam  receives  a fail for the assignment. No exceptions. It is not fair to those students who do their own work! See page 5 of the syllabus.

· DROP DATE - It is the student's responsibility to drop a  class before March 30th, otherwise it will lead to a failing grade for the class. It is the student’s responsibility to drop the class. The instructor has no way to know whether the student is ill or has dropped the class.

· ADD DEADLINE - The last day to add a class is February 21st

· CURRENT EVENT/EXTRA CREDIT - Find an article in the newspaper or magazine and analyze it as it relates to class discussion. Your analysis should contain a summary of the article (no more than a few sentences), and an economic analysis as it pertains to the course material.  Do not include an article that is merely financial news.

· Each current event should not be more than one page long.

· Each article should be turned in within a few weeks of the publishing date. 

· Include a copy of the article or if possible the original article. 

· Each article will earn up to 5 points for its analysis.

· No more than 5 articles may be submitted for extra credit. 

· No more than 2 articles can be turned in at the same time.

· The analysis should be typed or clearly written.

· Note:  The first analysis is required of everyone, and then you may proceed to do 5 extra credit.

· The last day to turn in current event or extra credit is May 17th

APPROXIMATE SCHEDULE

DATE	TOPIC	READING	HOMEWORK
Feb 7-9	What Economics is All About Production Possibilities Frontier Framework	Ch 1 Ch 2	Q2-1,5,8 W2-1,4,5,6,7,8
Feb 14	Supply and Demand: Theory	Ch 3	Handout Q3-1,3,5,6,9,11,17,23 W3-2,5,7
Feb 21-23	Prices: Free, Controlled and Relative	Ch 4	Q4-2,4,5,6,9,11 W4-1,2
Feb 29-Mar 1	Supply and Demand and Price: Applications	Ch 5	Q5-1,3,4,14 W5-1,2
	Exam #1 – Ch 1-5
Mar 6-8	Prices and Unemployment	Ch 6	Q6-1,4,5,7,8,12 W6-1,3,4,5,6,7,9,10
Mar 13-15	GDP and Real GDP	Ch 7	Q7-1,2,4,5,7,10,11 W7-4,7,8
	Exam #2 – Ch 6-7
Mar 20-22	Aggregate Demand and Aggregate Supply	Ch 8	Q8-2,4,6,7,10,14,17 W8-1,2,3,4
Mar 27-29	Classical Macroeconomics and the Self-Regulating Economy	Ch 9	Q9-1,6,8,10,11,12,18 W9-1,2,3
April 3-5	SPRING BREAK
April 10-12	Keynesian Macroeconomics and Economic Instability: A Critiques of the Self Regulating Economy	Ch 10	Q10-1,3,5,7,9,10,11 W10-1,3,4
April 17-19	Fiscal Policy and the Federal Budget	Ch 11	Q11-5,8,9,10,12,15,17 W11-1,2,3,5,8
	Exam #3 – Ch 8-11
April 24-26	Money, Banking and the Financial System	Ch 12	Q12-3,4,6,8,9 W12-1,2,4
May 1-3	The Federal Reserve System	Ch 13	Q13-2,3,4,5,6, W13-1,2,4
May 8-10	Monetary Policy	Ch 15	Q15-2,3,5,8,9, W15-3,4,5,6
May 15-17	Money and the Economy	Ch 14	Q14-1,8,14 W14-1,5,6
May 22-24	The Financial Crisis of 2007-2009	Ch 18
May 29 May 31	Review Final Exam – Ch 1-15,18

COC Statement and Policy on Academic Integrity and Plagiarism

Approved by Academic Senate in May, 2010

Statement on Academic Integrity at College of the Canyons

Students are expected to do their own work as assigned. At College of the Canyons, we believe that academic integrity and honesty are some of the most important qualities college students need to develop and maintain. To facilitate a culture of academic integrity, College of the Canyons has defined plagiarism and academic dishonesty. Due process procedures have been established when plagiarism or academic dishonesty is suspected.

At COC, we define plagiarism as follows: Plagiarism is the submission of someone else’s work or ideas as one’s own, without adequate attribution. When a student submits work for a class assignment that includes the words, ideas or data of others, without acknowledging the source of the information through complete, accurate, and specific references, plagiarism is involved. This may include dual submissions of a similar work for credit for more than one class, without the current instructor’s knowledge and approval.

To be specific, below are some of the situations that will be considered plagiarism at COC:

· Use information from any source, online or in print, in one’s own writing without acknowledging the source in the content and in the reference page of the assignment;

· Simply list the sources in the reference page, without parenthetical citations in the body of the essay;

· Take more than one printed line of words consecutively from the source without putting quotation marks around them, even though the student has put the author’s name in the parentheses or in the reference page;

· Turn in work done for other classes, regardless how big or small the assignment may be, without the current instructor’s approval—this is considered “self-plagiarism,” which is a form of academic dishonesty; or,

· Turn in work by another student, even by accident.

In addition, COC has strict rules against using electronic devices during exams without the instructor’s approval. To be specific, absolutely no cell phones or any electronic devices can be on the desk or in sight during test or exam without the instructor’s approval. The presence of electronic devices in sight during exams may be considered as intention to cheat and will be processed as a form of academic dishonesty.

Cases of alleged academic dishonesty, such as plagiarism or cheating, will be referred to the Dean of Student Services for investigation. See your syllabus for course specific policies, rules, and guidelines on plagiarism and academic dishonesty.

	UNEMPLOYMENT/RECESSION	INFLATION	DEFICIT
SELF REGULATING	Unemployment is high, wages will go down, firms will hire more workers, costs of production will go down, SRAS will shift to the right, unemployment will go down, Real GDP will increase and Price Levels will fall	Unemployment is low, wages will go up, firms will be forced to pay more to find workers, costs will go up, SRAS will shift to the left, unemployment will go up, Real GDP will decrease and Price Levels will increase	None
Issues with Self Regulating Economy	Too slow, wages may not go down - rigidity - contracts may prevent wages from falling	Too slow, firms may not hire at higher wages - hyperinflaton may result as inflationary spiral occurs	Government has to solve its own problem
FISCAL POLICY	Lower Taxes, Raise Government Spending, do both, or Raise Government Spending and Taxes	Raise Taxes, Lower Government Spending, or both, or Lower Government Spending and Taxes	Lower Government Spending or Raise Taxes or both
Issues with Fiscal Policy:	1. Can be done nationally. 2. Can be done gradually on a weekly basis or dramatically all at once		Change G or T ------> change GDP
MONETARY POLICY	Lower Reserve Requirements, Lower Discount Rate and Federal Fund Rate, Buy Securities from Public	Raise Reserve Requirements, Raise Discount Rate and Federal Fund Rate, Sell Securities to Public	none
Issues with Monetary Policy:	1. Can be done nationally. 2. Can be done gradually on a weekly basis or dramatically all at once	3. More effective when dealing with inflation then unemployment. 4. Not always effective because many parts have to fall into place.	change Ms-->rr-->rm-->I-->GDP
SUPPLY SIDE POLICY	Lower Taxes to increase productivity, encourage more saving	Lower Taxes to increase productivity, encourage more saving	none
Issues with Supply Side Economics	1. Can only work if firms are willing to increase productivity and create jobs	2. Cannot be in a recession for it to work.	3. Firms have to expand their own productivity not merge with other firms to take advantage of tax breaks