Summer I 2025
Principles of Macroeconomics
Introduction to Macroeconomics (ECON 2301 2A0) CREDIT 3 Semester Credit Hours (3 hours lecture, 0 hours lab) MODE OF INSTRUCTION Online PREREQUISITE/CO-REQUISITE: None 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: By Appointment REQUIRED TEXTBOOK AND MATERIALS Shapiro, D., MacDonald, et al. (2022). Principles of Macroeconomics 3E (3rd ed.). OpenStax, Rice University. ISBN: 978-1711471471 ATTENDANCE POLICY This is a fully online class. You are expected to log into Blackboard 3 to 4 times a week to check for updates and announcements. 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 Drop Dates: Last Day to Drop with Refund: 6/17/2025 Last Day to Pay Tuition to Avoid Drop: 6/17/2025 Last Day to Drop without Academic Penalty: 6/23/2025 Last Day to Drop with Academic Penalty: 7/18/2025 COURSE CALENDAR (Subject to Change) DATE TOPIC READINGS ASSIGNMENTS (Due on this Date) Week 1 6/2-6/8 Class Introduction/Syllabus Welcome to Economics! Choice in a World of Scarcity Chapters 1 and 2 Introduce Yourself Discussion Journal Entry 6/8/2025 Week 2 6/9-6/15 Demand and Supply Chapter 3 Chapter 3 Discussion Chapter 1,2,3 Quiz 6/15/2025 Week 3 2/2-2/9 The Macroeconomic Perspective Chapter 6 Chapter 6 Discussion Chapter 6 Quiz 6/22/2025 Week 3 6/16-6/22 Test 1 Chapters 1,2,3,6 6/22/2025 Week 4 6/23-6/29 Economic Growth Chapter 7 Chapter 7 Assignment Chapter 7 Quiz 6/29/2025 Week 5 6/30-7/6 Unemployment Chapter 8 Chapter 8 Discussion Chapter 8 Quiz 7/6/2025 Week 6 7/7-7/13 Inflation Chapter 9 Chapter 9 Discussion Chapter 9 Quiz 7/13/2025 Week 7 7/14-7/20 The International Trade and Capital Flows Chapter 10 Chapter 10 Assignment Chapter 10 Quiz 7/20/2025 Week 7 7/14-7/20 Test 2 Chapter 7,8,9,10 7/20/2025 Week 8 7/21-7/27 Money and Banking Chapter 14 Chapter 14 Discussion Chapter 14 Quiz 7/27/2025 Week 9 7/28-8/3 Monetary Policy and Bank Regulations Chapter 15 Chapter 15 Assignment Chapter 15 8/3/2025 Week 10 8/4-8/10 Exchange Rates and International Capital Flows Chapter 16 Chapter 16 Discussion Chapter 16 Quiz 8/10/2025 Week 10 8/4-8/10 Test 3 Chapters 14,15,16 8/10/2025 Week 11 8/11-8/14 Final Exam All Chapters Final Exam 8/14/2025 COURSE EVALUATION Final grades will be calculated according to the following criteria: Assignments/Discussions 25% Chapter Quizzes 25% Tests (10 x 3) 25% Final Exam 25% GRADE SCALE • 90-100 A • 80-89 B • 70-79 C • 60-69 D • 0-59 F 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 1. Email is the preferred method of communication (scjoiner@lit.edu). Please do not use Blackboard Messages. I do not get a notification that you sent a message and may not see it for days. I will respond to emails within 48 hours except on weekends and holidays. 2. A grade of ‘C’ or better must be earned in this course for credit towards degree requirement. 3. All assignments are due on the dates indicated in Blackboard. Any late work will receive a thirty-point deduction. After a week, you will receive a zero. 4. Tests are assigned a due date and must be completed by that date. Tests will not be reactivated after the due date. 5. All written assignments should be submitted in APA format. Refer to the “APA Format Assistance” section in the introduction section of the Blackboard course. Assignments not in proper format will not be graded 6. All assignments must be submitted via Blackboard unless specified by your instructor. Assignments submitted through any other method will receive a “0”. 7. Grades for assignments may be accessed through Gradebook in Blackboard. Each assignment shows your grade and any grading comments made on your assignment. 8. All assignments must be turned in before the final exam. 9. Assignments should be graded within a week of the due date. 10. Using AI (Artificial Intelligence) for assignments will result in a grade of “0”. Please refer to the AI statement above. 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