Fall 2025
Principles of Macroeconomics
Approved: Initials/date Introduction to Macroeconomics (Econ 2301 9B4) 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 • Explain the role of scarcity, specialization, opportunity cost, and cost/benefit analysis in economic decision-making. • Identify the determinants of supply and demand; demonstrate the impact of shifts in both market supply and demand curves on equilibrium price and output. • Define and measure national income and rates of unemployment and inflation. • Identify the phases of the business cycle and the problems caused by cyclical fluctuations in the market economy. • Define money and the money supply; describe the process of money creation by the banking system and the role of the central bank. • 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. • Explain the mechanics and institutions of international trade and their impact on the macro economy. • 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: T4 – Room 105 (Back Office) Office Hours: MWF: 11:00 – 12:30, TTh: 8:00 – 12:30 By appointment as needed REQUIRED TEXTBOOK AND MATERIALS Frank, R. H. (2021). Principles of Macroeconomics, a streamlined approach (4th ed.). McGraw Hill US Higher Ed. ISBN: 9781264239917 PARTICIPATION POLICY You are expected to check into class at least 3 times a week. 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 9/10/2025 Last Day to Pay Tuition to Avoid Drop 9/22/2025 Last Day to Drop without Academic Penalty 9/26/2025 Last Day to Drop with Academic Penalty 10/31/2025 COURSE CALENDAR (Subject to Change if necessary) DATE TOPIC READINGS (Due on this Date) ASSIGNMENTS (Due on this Date) Week 1 8/25-8/31 Syllabus/Class Introduction Thinking Like an Economist Syllabus Chapter 1 Chapter 1 Homework Week 1 Current Event (8/29/2025) Week 2 8/31-9/7 Supply and Demand Chapter 2 Chapter 2 Homework Week 2 Current Event (9/5/2025) Week 3 9/7-9/14 Macroeconomics: The Bird’s-Eye View of the Economy Chapter 3 Chapter 3 Homework Week 3 Current Event (9/12/2025) Week 4 9/14-9/21 Measuring Economic Activity: GDP, Unemployment, and Inflation Chapter 4 Chapter 4 Homework Week 4 Current Event (9/19/2025) 9/19/2025 Test 1 Chapters 1-4 9/19/2025 Week 5 9/21-9/28 Economic Growth, Productivity, and Living Standards Chapter 5 Chapter 5 Homework Week 5 Current Event (9/26/2025) Week 6 9/28-10/5 The Labor Market: Worker, Wages, and Unemployment Chapter 6 Chapter 6 Homework Week 6 Current Event (10/3/2025) Week 7 10/5-10/12 Saving and Capital Formation Chapter 7 Chapter 7 Homework Week 7 Current Event (10/10/2025) Week 8 10/12-10/19 Money, the Federal Reserve, and Global Financial Markets Chapter 8 Chapter 8 Homework Week 8 Current Event (10/17/2025) 10/17/2025 Test 2 Chapters 5-8 10/17/2025 Week 9 10/19-10/26 Short-Term Economic Fluctuations and Fiscal Policy Chapter 9 Chapter 9 Homework Week 9 Current Event (10/24/2025) Week 10 10/26-11/2 Stabilizing the Economy: The Role of the Fed Chapter 10 Chapter 10 Homework Week 10 Current Event (10/31/2025) Week 11 11/2-11/9 Aggregate Demand, Aggregate Supply, and Inflation Chapter 11 Chapter 11 Homework Week 11 Current Event (11/7/2025) Week 12 11/9-11/16 International Trade and Trade Policy Chapter 12 Chapter 12 Homework Week 12 Current Event (11/14/2025) Week 13 11/16-11/23 Exchange Rates and the Open Economy Chapter 13 Chapter 13 Homework Week 13 Current Event (11/21/2025) 11/21/2025 Test 3 Chapters 9-13 11/21/2025 Week 14 11/23-11/30 Happy Thanksgiving None None Week 15 11/30-12/7 Final Exam Review All Chapters Week 16 12/7-12/10 Final Exam Final Exam COURSE EVALUATION Final grades will be calculated according to the following criteria: • Chapter Homework Assignments 25% • Tests (3 Tests/10% each) 30% • Current Events 10% • Final Exam 35% 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). I cannot respond to Blackboard Messages, I can see them, but I have no way to respond. 2. All assignment due dates are indicated in the Blackboard course for this class. Any work submitted after the assigned due date will receive a 10 point per week deduction. 3. All assignments must be submitted via Blackboard unless specified by your instructor. Assignments submitted through any other method will receive a “0”. 4. Grades for assignments may be accessed through My Grades in Blackboard. Each assignment shows your grade and any grading comments made on your assignment. 5. All assignments must be turned in before the final exam.