Spring 2025
Principles of Macroeconomics
PRINCIPLES OF MACROECONOMICS (ECON 2301 924) CREDIT 3 Semester Credit Hours (3 hours lecture, 0 hours lab) MODE OF INSTRUCTION Online PREREQUISITE/CO-REQUISITE: C or better in Composition I (ENGL 1301) COURSE DESCRIPTION An analysis of the economy as a whole including measurement and determination of Aggregate Demand and Aggregate Supply, national income, inflation, and unemployment. Other topics include international trade, economic growth, business cycles, and fiscal policy and monetary policy. COURSE OBJECTIVES Upon completion of this course, the student will be able to 1. Explain the role of scarcity, specialization, opportunity cost and cost/benefit analysis in economic decision-making. 2. Identify the determinants of supply and demand; demonstrate the impact in shifts in both market supply and demand curves on equilibrium price and output. 3. Define and measure national income and rates of unemployment and inflation. 4. Identify the phases of the business cycle and the problems caused by cyclical fluctuations in the market economy. 5. Define money and the money supply; describe the process of money creation by the banking system and the role of the central bank. 6. Construct the aggregate demand and aggregate supply model of the macro economy and use it to illustrate macroeconomic problems and potential monetary and fiscal policy solutions. 7. Explain the mechanics and institutions of international trade and their impact on the macro economy. 8. Define economic growth and identify sources of economic growth. INSTRUCTOR CONTACT INFORMATION Instructor: Steven Joiner Email: scjoiner@lit.edu Office Phone: 409-247-4995 Office Location: TA4 Room 105 (Back Office Office Hours: Monday – Wednesday: 10:00am – 1:00pm Tuesday – Thursday: 8:00am – 1:00pm REQUIRED TEXTBOOK AND MATERIALS Principles of Macroeconomics by OpenStax Book Versions Free Weblink: https://openstax.org/details/books/principles-macroeconomics-3e Hardcover: ISBN-13: 978-1-711471-47-1 Paperback: ISBN-13: 978-1-711471-48-8 Digital: ISBN-13: 978-1-951693-64-0 ATTENDANCE POLICY To be successful in this online course, the student MUST purchase the assigned textbook and log into BlackBoard 4-5 times weekly. Regular, reliable access to BlackBoard via Internet is required for this online course. DROP POLICY If you wish to drop a course, you are responsible for initiating and completing the drop process. If you stop coming to class and fail to drop the course, you will earn an “F” in the course. IMPORTANT DATES These dates are tentative and subject to change if necessary. • First Day to Submit Intent to Graduate: January 24, 2025 • Last Day to Drop WITHOUT Academic Penalty: February 26, 2025 (Full Term) • Last Day to Submit Intent to Graduate: March 14, 2025 • First Day to Apply for Graduation: March 24, 2025 • Last Day to Apply for Graduation: April 4, 2025 • Last Day to Drop WITH Academic Penalty: April 14, 2025 (Full Term) • Commencement/Graduation: May 15, 2025 COURSE CALENDAR (Subject to Change) DATE TOPIC READINGS ASSIGNMENTS (Due on this Date) Week 1 1/21-1/26 Welcome to Economics Syllabus Chapter 1 Introduction Discussion Board Chapter 1 Quiz 2/3/2025 Week 2 1/26-2/2 Choice in a World of Scarcity Research Project Chapter 2 Country Selection Chapter 2 Quiz Research Project Topic Selection 2/3/2025 Week 3 2/2-2/9 Demand and Supply Chapter 3 Discussion Board Chapter 3 Quiz Unit 1 Exam 2/10/2025 Week 4 2/9-2/16 The Macroeconomic Perspective Chapter 6 Chapter 6 Quiz 2/17/2025 Week 5 2/1-2/23 Economic Growth Chapter 7 Discussion Board Chapter 7 Quiz 2/24/2025 Week 6 2/23-3/2 Unemployment Chapter 8 Discussion Board Chapter 8 Quiz Research Project Rough Draft 3/3/2025 Week 7 3/2-3/9 Inflation Chapter 9 Discussion Board Chapter 9 Quiz 3/17/2025 Spring Break 3/9-3/16 Spring Break Spring Break Spring Break Week 8 3/16-3/23 International Trade and Capital Flows Chapter 10 Chapter 10 Quiz Unit 2 Exam 3/24/2025 Week 9 3/23-3/30 Money and Banking Chapter 14 Discussion Board Chapter 14 Quiz 3/31/2025 Week 10 3/30-4/6 Research Project Final Paper Research Project Final Paper Research Project Final Paper 4/7/2025 Week 11 4/6-4/13 Monetary Policy and Bank Regulations Chapter 15 Discussion Board Chapter 15 Quiz 4/14/2025 Week 12 4/13-4/20 Exchange Rates and International Capital Flows Chapter 16 Discussion Board Chapter 16 Quiz 4/21/2025 Week 13 4/20-4/27 Government Budgets and Fiscal Policy Chapter 17 Chapter 17 Quiz Unit 3 Exam 4/28/2025 Week 14 4/27-5/4 Macroeconomic Policy Around the World Chapter 19 Chapter 19 Quiz 5/5/2025 Week 15 5/4-5/11 International Trade Chapter 20 Chapter 20 Quiz Unit 4 Exam 5/12/2025 Week 16 5/11-5/13 Final Exam Final Exam 5/13/2025 COURSE EVALUATION Final grades will be calculated according to the following criteria: GRADE SCALE • 90 - 100 A • 80 - 89 B • Chapter Quizzes 15% • Discussion Boards 15% • Unit Exams (4) 30% • Final Exam 25% • Research Project 15% • 70 - 79 C • 60 - 69 D • 0 - 59 F LIT does not use +/- grading scales If this class is part of your core classes you must make a ‘C’ or better to receive credit, if this is a general education class you must make a ‘D’ or better to receive credit. ACADEMIC DISHONESTY Students found to be committing academic dishonesty (cheating, plagiarism, or collusion) may receive disciplinary action. Students need to familiarize themselves with the institution’s Academic Dishonesty Policy available in the Student Catalog & Handbook at http://catalog.lit.edu/content.php?catoid=3&navoid=80#academic-dishonesty. TECHNICAL REQUIREMENTS The latest technical requirements, including hardware, compatible browsers, operating systems, etc. can be online at https://lit.edu/online-learning/online-learning-minimum- computer-requirements. A functional broadband internet connection, such as DSL, cable, or WiFi is necessary to maximize the use of online technology and resources. DISABILITIES STATEMENT The Americans with Disabilities Act of 1990 and Section 504 of the Rehabilitation Act of 1973 are federal anti-discrimination statutes that provide comprehensive civil rights for persons with disabilities. LIT provides reasonable accommodations as defined in the Rehabilitation Act of 1973, Section 504 and the Americans with Disabilities Act of 1990, to students with a diagnosed disability. The Special Populations Office is located in the Eagles’ Nest Room 129 and helps foster a supportive and inclusive educational environment by maintaining partnerships with faculty and staff, as well as promoting awareness among all members of the Lamar Institute of Technology community. If you believe you have a disability requiring an accommodation, please contact the Special Populations Coordinator at (409)-951-5708 or email specialpopulations@lit.edu. You may also visit the online resource at Special Populations - Lamar Institute of Technology (lit.edu). STUDENT CODE OF CONDUCT STATEMENT It is the responsibility of all registered Lamar Institute of Technology students to access, read, understand and abide by all published policies, regulations, and procedures listed in the LIT Catalog and Student Handbook. The LIT Catalog and Student Handbook may be accessed at www.lit.edu. Please note that the online version of the LIT Catalog and Student Handbook supersedes all other versions of the same document. ARTIFICIAL INTELLIGENCE STATEMENT Lamar Institute of Technology (LIT) recognizes the recent advances in Artificial Intelligence (AI), such as ChatGPT, have changed the landscape of many career disciplines and will impact many students in and out of the classroom. To prepare students for their selected careers, LIT desires to guide students in the ethical use of these technologies and incorporate AI into classroom instruction and assignments appropriately. Appropriate use of these technologies is at the discretion of the instructor. Students are reminded that all submitted work must be their own original work unless otherwise specified. Students should contact their instructor with any questions as to the acceptable use of AI/ChatGPT in their courses STARFISH LIT utilizes an early alert system called Starfish. Throughout the semester, you may receive emails from Starfish regarding your course grades, attendance, or academic performance. Faculty members record student attendance, raise flags and kudos to express concern or give praise, and you can make an appointment with faculty and staff all through the Starfish home page. You can also login to Blackboard or MyLIT and click on the Starfish link to view academic alerts and detailed information. It is the responsibility of the student to pay attention to these emails and information in Starfish and consider taking the recommended actions. Starfish is used to help you be a successful student at LIT. ADDITIONAL COURSE POLICIES/INFORMATION EAGLE LEARNING ESSENTIALS Eagle Learning Essentials (ELE) https://lit.edu/student-success/eagle-learning-essentials is an affordable textbook rental program through the Barnes and Noble Bookstore. Through this program, students can receive required textbooks, lab manuals, access codes and electronic books conveniently before the first day of class. The ELE bundle will provide the needed learning materials at $14 per credit hour (added to your student account), saving students up to 35-50% on the cost of course materials. The cost can be paid by financial aid or by the student. If a student enrolls in a payment plan, this charge will be included in the payment plan calculations. Supplies are not included in this program and will need to be purchased separately. LIT students are automatically enrolled in the program at the time of registration and will begin receiving emails about selecting their preferred delivery method. Course Policies 1. Email is the preferred method of communication (scjoiner@lit.edu). I cannot respond to Blackboard Messages, I can see them, but I have no way to respond. I will respond within 48 hours except for weekends and holidays. 2. Any work submitted after the assigned due date will receive a 10-point deduction the first 2 days and 15 points after 2 days. There is a one-week limit for late work, after one week it will be a 0. 3. Exams are assigned a due date and must be completed by that date to receive full credit. Exams will be open for 5 days total, 3 days for full credit and 2 days for 15-points off. There will be no makeup exams. 4. All assignments must be submitted via Blackboard unless specified by your instructor. Assignments submitted through any other method will receive a “0”. 5. Grades for assignments may be accessed through Gradebook in Blackboard. Each assignment shows your grade and any grading comments made on your assignment. 6. All assignments must be turned in before the final exam. Nothing will be graded after the final exam.