Catalog Course Description:

An examination of what determines the total output of goods and services, the rate of unemployment, the price level, the rate of inflation, rates of interest, and foreign exchange rates within a mixed price-market economic system. This course satisfies area studies-social and behavioral sciences for general education.

Prerequisites: None

Course Objectives:

This is the first course in a two semester sequence of courses, consisting of Economics 201 and Economics 202, which together serve as an introduction to the field of economics. However, the sequence can be taken in either order, and either course can be taken by itself. Students who successfully complete this sequence will have obtained an elementary introduction to most of the main topics in economics.

In Economics 201 the course objective is to introduce students to the basic concepts, principles, and theories of macroeconomics. Students will learn macroeconomic principles and theories at the introductory level, as well as relevant institutional material, and be able to use them to understand how the economy functions at the aggregate level. Upon successful completion of the course, students will have a basic knowledge of what determines the output of final goods and services of the economy, the unemployment rate, the price level, the rate of inflation, interest rates, and foreign exchange rates, and how public policies affect them.

Examinations:

Four twenty five minute examinations will be given during the semester; each will be worth 100 points. The final examination will be worth 150 points. There will be two Internet assignments requiring students to look up macroeconomic data on the Internet. These will part of two of the four examinations, be submitted in class when the exams are taken, and constitute part of the grades for them. Therefore the total number of points that can be earned for the semester is 550.

Students may use simple calculators during the examinations, but programmable calculators, PDAs, etc. will not be allowed. The passing of calculators between students is not permitted.

Basis for Semester Grade:

No letter grades are assigned to individual exams. The semester grade is based on the average score obtained on all examinations, with the final exam counting for one and a half times as much as the other exams.

The TENTATIVE curve is as follows:

A: 85% and up.
B: 70% - 84%
C: 60% - 69%
D: 50% - 59%
E: 49% and lower.

This curve MAY be adjusted downward as the course develops, if needed. However, it will not be adjusted upward.

Attendance Policy:

Four points will be deducted from the score on the next examination for each unexcused absence. There are two free excused absences for the semester. Students with valid reasons for missing additional classes can obtain excuses for the additional absences from the Instructor. In order to obtain such excuses, the student must see the Instructor in person. Excuses will not be granted on the basis of e-mail, voice mail, or other messages.

Missed Exams:

Students must receive permission from the Instructor ahead of time to miss an exam, unless there is a last minute emergency. If such a last minute emergency arises, it is the student's responsibility to contact the Instructor to arrange for a make up.

If a student has not arranged for a make up for an exam by at least 10:00 A.M. of the day that the exam is returned to the class, the student will not be allowed to make up the exam, no matter how valid the excuse. The first time this occurs, the exam is not included in the semester average and the final exam will count for 250 points. If it occurs any additional times, each additional missed exam will count as a zero in the semester average.

Americans with Disabilities Act:

In compliance with the ADA, all students with a documented disability are entitled to reasonable accommodations and services to support their academic success and safety. Though a request for services may be made at any time, services are best applied when they are requested at or before the start of the semester. To receive accommodations and services the student should immediately contact the Disability Services Coordinator in the Office of Academic and Career Services, 223 Allie Young Hall, 606-783-5188, http://www.moreheadstate.edu/acs.

Dishonesty Policy:

If a student is found to have engaged in cheating during any of the exams (including the final), that exam (including the final) will count as a zero in the semester average. A second incidence of cheating will result in an automatic failing grade for the course.

Class Conduct:

Students are expected to give the class their undivided attention. Talking in class (except when called on), reading material not related to the class, sleeping in class, wearing earphones, etc, is not permitted.

All cellular telephones, pagers, and iPods are to be turned off before students enter the classroom and to remain off until students have left the classroom. (However, pagers used by emergency personnel for official functions may be left on.)

Except in cases of emergency, student must receive the Instructor's permission ahead of time if they wish to leave the classroom early.

Campus Safety Statement:

Emergency response information will be discussed in class. Students should familiarize themselves with the nearest exit routes in the event evacuation becomes necessary.

You should notify your instructor at the beginning of the semester if you have special needs or will require assistance during an emergency evacuation.

Students should familiarize themselves with emergency response protocols at:

http://www.moreheadstate.edu/emergency

Instructional Materials:

Required Text: Macroeconomic, by Paul Krugman and Robin Wells, Worth Publishers

Web Site: There is a Web site for this text at this link:

The material in the graphing center is required. Students can expect exam questions based on it. However, the material should not be submitted to the Instructor.

All other material on the Web site is optional.

Old Exams: A complete set of the old exams from the last two times the course was taught by the Instructor will be made available at the following links:

ECON 201 SPRING 2007 EXAMS

PART ONE: Exams 1-5

PART TWO: Final

ECON 201 FALL 2007 EXAMS

PART ONE: Exams 1-3

PART TWO: Final

Part of the examination questions for this semester will be based on these questions.

Other Instructional Material: All other instructional material for this course will be linked to this syllabus.

The course does NOT make use of a Blackboard site.

SEMESTER GRADES

10:20 SECTION

1:50 SECTION

LINKS:

Council of Economic Advisers

Bureau of Economic Analysis

Bureau of Labor Statistics

Board of Governors of the Federal Reserve System

National Bureau of Economic Research

I. Introduction and a Brief Look at Microeconomics

Introduction, pp. 1-4
Appendix to Ch. 2, pp. 41-53
Ch. 1
Ch. 2
Ch. 3

EXAM #1, THURSDAY, FEB 7

II. Introduction to Macroeconomics

Ch. 6, pp138-149
Internet Reading #1
Ch. 6, pp. 149-157
Internet Reading #2
Internet Reading #3
Ch. 7
Internet Assignment #1

EXAM #2, THURSDAY, FEB. 28

Ch. 19, pp. 461-464
Ch. 8
Ch. 9, pp. 210-211, bottom 221-234, 211-221
Ch. 16, pp. 400-402

III. Money and the Monetary System

Ch. 13, pp. 321-329, 334-middle336,

EXAM #3, FRIDAY, MARCH 28

Ch. 19, pp. 464-469
Ch. 13, pp. 330-334, 336-339
Internet Assignment #2
Ch. 14, pp. 342-354
Ch. 19, pp. 460, 469-477

IV. Aggregate Supply and Aggregate Demand

Ch. 10, pp. 236-237, 246-251

EXAM #4, TUESDAY, APRIL 22

Ch. 10, pp. 251-254, 237- 246
Ch. 15, pp. 368-382
Ch. 10, pp. 254-266
Ch. 14, pp. 354-357

V. Macroeconomic Policy

Ch. 12, not including Appendix
Internet Reading #4

NEW MATERIAL ON FINAL

Ch. 14, pp. bottom357-365 EXTRA CREDIT 12 POINTS
Ch. 19, pp. 478-488 EXTRA CREDIT 12 POINTS

VI. Inflation and Unemployment

Ch. 15, pp. bottom382-390 EXTRA CREDIT 12 POINTS

A limited number of outside readings will be assigned where appropriate.

STUDENTS ARE RESPONSIBLE FOR ALL OF THE MATERIAL IN THE READING ASSIGNMENTS, WHETHER THEY ARE COVERED IN CLASS OR NOT.

Internet Address

Lecture Notes for Ch. 1 & 2

Lecture Notes for Ch. 3

Lecture Notes for Ch. 6

Lecture Notes for Ch. 7

Lecture Notes for Ch. 8

Lecture Notes for Ch. 9

Lecture Notes for Ch. 13

Lecture Notes for Ch. 14, Part 1

Lecture Notes for Ch. 10, Part 1

Lecture Notes for Ch. 10, Part 2

Lecture Notes for Ch. 14, Part 2

Lecture Notes for Ch. 15