Tools

EC 111 Section 901: Prin Of Macroeconomics

Spring, 2010
3 Credit Hours
Primary Instructor: Harold Elder
Core Designation: Social and Behavioral Sciences

Office Hours

Instructor Name: Dr. Harold Elder
Office Location: 232 Alston Hall
Phone: 205-348-8976
Email: helder@bama.ua.edu or eLearning Mail. (Responses to email will be provided within 24-36 hours.)
NOTE:  Students are encouraged to send messages to the bama email address, and it helps if the subject line includes the word "ONLINE."  This will distinguish the message from others sent by on-campus students. This email address is used exclusively for student questions.


Prerequisites

From the Student Records System
  • EC 110 (undergrad) with a minimum grade of C-


Course Description

This course is an introduction to macroeconomic analysis and will focus on issues concerning national income, price levels and inflation, employment and unemployment, monetary and fiscal policies, and international macroeconomics. This course should make students more discerning and critical consumers of information on the economy.


Objectives

This course provides the basis for you to gain the skills to use economic reasoning to address problems and to develop critical thinking skills. The course will focus on the operation of the economy at the aggregate level.

Upon completion of this course, you will be able to:

  • Understand the scarcity, competition, rationality assumption, opportunity costs, and trade-offs.

  • Calculate GDP, CPI, unemployment, and other aggregate measures.

  • Identify national economic goals.

  • Understand the role of the Federal Reserve and government.

  • Determine the use and measures of money.

  • Interpret national economic data.

  • Distinguish between fiscal and monetary policies.

  • Analyze stabilization policies.


Outline of Topics




 

Module Topics

 

 

Chapters

Aplia Assignments
FIXED Due Dates

Suggested Exam Window

Module 1: Economic Foundations

Ch 1-4

 

 

  • Readings: Chapters 1-4
  • Video PowerPoint Presentations
  • Discussion Posts
  • Aplia Assignments
    • Intro # 1 Introduction to Using Aplia Problem Sets
    • Intro # 2 Math and Graphing Assessment with Tutorials
    • Chapter 2: Thinking Like an Economist
    • Chapter 3: Interdependence and the Gains from Trade
    • Chapter 4: Market Forces of Supply and Demand
  • Practice Exam
  • Module Exam

 

Intro # 1 and 2 Assignments Due: January 17

Chapters 2-4 Assignments Due: January 24

 

 

January 25-30

Module 2: The Aggregate Economyl

Ch 10-13

 

 

  • Readings Chapters 10-13
  • Video PowerPoint Presentations
  • Discussion Posts
  • Aplia Assignments
    • Chapter 10 Measuring a Nation's Income
    • Chapter 11 Measuring the Cost of Living
    • Chapter 12 Production and Growth
    • Chapter 13 Saving, Investment and the Financial System
  • Practice Exam
  • Module Exam

 

Chapters 10-13 Assignments

Due: February 14

 

February 15-20

Module 3: Unemployment and Inflation

Ch 15-17

 

 

  • Readings Chapters 15-17
  • Video PowerPoint Presentations
  • Discussion Posts
  • Aplia Assignments
    • Chapter 15 Unemployment
    • Chapter 16 The Monetary System
    • Chapter 17 Money Growth and Inflation
  • Practice Exam
  • Module Exam

 

Chapters 15-17 Assignments

Due March 14

NOTE: Since the Suggested Exam dates coincide with Spring Break, students may wish to take exams during the week of March 22-27

 

March 15-19

Module 4: Economic Fluctuations

Ch 20-22

 

 

  • Readings Chapters 20-22
  • Video PowerPoint Presentations
  • Discussion Posts
  • Aplia Assignments
    • Chapter 20 Aggregate Demand and Aggregate Supply
    • Chapter 21The Influcte of Monetary and Fiscal Policy on Aggregate Demand
    • Chapter 22 The Short Run Tradeoff Between Inflation and Unemployment
  • Practice Exam
  • Module Exam

 

Chapters 20-22 Assignments

Due April 11

 

April 12-17

Module 5: Open Economy Macroeconomics

Ch 18-19

 

 

  • Readings
  • Video PowerPoint Presentations
  • Discussions
  • Aplia Assignments
    • Chapter 18 Open Economy Macroeconomics Basic Concepts
    • Chapter 19 Open Economy Macroeconomics Theory
  • Practice Exams
  • NO MODULE EXAM--PROCEED TO FINAL EXAM

 

Chapters 18-19 Assignments

Due May 2

 

NO MODULE EXAM FOR MODULE 5--TAKE FINAL EXAM

FINAL EXAM

Ch 18-22

 

May 3-8

In addition to the module exams, you will need to take the Final Exam. To receive full credit for this course, you need to take this exam by MAY 8.




Exams and Assignments

The topics for this course are covered by students at their own pace by covering the Learning Modules in sequence. The presentation takes a number of forms. This includes the online textbook, and in addition, there are narrated PowerPoint presentations here on the eLearning site, along with supplemental PowerPoint presentation materials. The Aplia site provides the homework assignments and a gateway to view the Tomlinson video presentations.

A key element of this process is the set of exams that students take upon completion of the materials in each Learning Module. This is done via eLearning using the Assessments link in the Course Tools menu. There are two types of exams.

  • One type is the Practice Exam. Students should use these as a preparation tool for the Module Exams. Students can take the Practice Exams on their computer and have two opportunities to take each Practice Exam.

  • The second type of test is the Module Exam. These are taken in a proctored testing environment (more information about how the exams are taken can be found in the discussion in the Proctoring Information section below).

Student Assessment. Each module contains a set of assignments that must be completed to meet the course requirements: 

  • Aplia Assignments.  These are homework assignments keyed to the materials from the textbook.  These assignments have fixed due dates that must be followed to be able to receive credit for the assignment.
  • Discussion Posts.  Students must complete at least one post per Learning Module.  These will be graded according to their quality and appropriateness to the topic, following this grading rubric.  Additional Discussion Points may be made to receive extra credit.
  • Practice Exams.  There is one Practice Exam for each module. You may make two attempts at a quiz. Your higher score will be recorded. Quizzes are timed for 75 minutes, simulating the Module Exam, and are not proctored. You may take this Practice Exam on any computer of your choosing. The practice exams are excellent preparation for the Module Exams and can be used to assess your readiness to take the Module Exam.
  • Module Exams. There is one Module Exam per module.  These exams are proctored and are either taken on campus or in a secure proctored test environment. Students who are on campus at the University of Alabama and those who live within a 50-mile radius of the campus should take these exams in the Testlab operated by the Department of Economics, Finance and Legal Studies (EFLS LAB.)  Students who live outside of this area are responsible for making the necessary arrangements for proctoring the exams. See the section on Proctoring Information below for more information.

Exams

  • Practice Exams

Practice Exam should be used as a preparation tool for the Module Exams. Practice Exams may be taken on any computer. Each Practice Exam may be taken two times to take each Practice Exam and the higher score is counted toward the course grade. It is important to note that both Practice Exams and Module Exams will be drawn from the same bank of exam questions.  This underscores the value of the Practice Exams as a way to be well prepared for the Module Exams.

The primary objective of the practice exams is to aid your preparation to take the Module Exam. I would strongly suggest that you use the two attempts on the Practice Exam as part of your preparation for the Module Exam. In particular, since you have two attempts, you should use the first attempt to provide you with information about the types of questions that are on the Module Exam as well as provide you with information about which topics you need to study more carefully. After taking the Practice Exam the first time, focus your preparation on understanding the parts of the exam that you did not do as well on, then take the Practice Exam the second time to determine how much more preparation you will need prior to taking the module exam.

  • Module Exams

Module Exam can be taken only one time and must be completed within the 75-minute time limit. Module Exams are taken only in a proctored testing environment like the department's TestLab. See the Proctoring Information section below for more information.

Exams may be taken at the discretion of the student. This applies to both the practice and module exams. Nevertheless, students are strongly urged to follow the schedule shown below, so that they can complete the course requirements in a systematic and productive way. A set of Suggested Exam Dates can be found in the Course Schedule.

 

IMPORTANT: Suggested Exam Dates

Exam dates listed in the Course Schedule are recommended dates. This is NOT a required completion schedule--It is only SUGGESTED.

 

IMPORTANT: Final Exam Information

All students are required to take the Final Exam, unless the student has an average of 90% or above prior to the final exam. Students with averages above 90% have the option to take this exam (students who wish to opt out of the final exam must verify their average with the instructor). The final exam covers chapters 13-17. This exam is also proctored following the procedures described above. To complete the course within the semester, you will need to take the exam by May 8.

These comprise all of the required components of the course. Students may have the opportunity to receive additional credit through posting materials on the class discussion board as designated by the instructor. No additional extra credit or bonus opportunities will be provided.

 

Aplia Assignments

Aplia assignments should be completed by the due date listed for that assignment. There is at least one required assignment for each chapter of the textbook. 

IMPORTANT: Aplia Assignment Due Dates

Dates for completing Aplia assignments are FIXED—if the assignments are not completed by these dates, then you cannot receive credit for them. Once the due date has passed, you will no longer be able to access these assignments. You can learn more details about Aplia by reading this document. The Course Schedule includes a list of the module topics and the corresponding Aplia assignment due dates.

  

IMPORTANT: Grading Aplia Assignments

There are a total of 17 Aplia assignments during the course. The lowest 3 scores will be dropped and Aplia grade will be based upon the 14 highest scores completed (based upon the percentage score).

NOTE: Aplia is also used to access a set of supplemental video presentations, which are listed as the Learning Path videos. These videos are often labeled the Tomlinson videos; this is because these materials were developed by an economist named Steve Tomlinson. It is important for you to note that Aplia only serves as a link to a separate website that houses the video materials. Students need to complete a separate registration step to gain access to these videos. Students who complete the Aplia registration process in the first few days of the semester will be emailed an access code for the Learning Path videos; students who register with Aplia after this period will need to email the tech support at Aplia and request the access code for these videos.

Discussion Posts

Within each learning module are a set of topical articles and associated with most of these is the opportunity to make a discussion post related to the article. Students are required to complete at least one Post to the Discussion Board for each Learning Module. Discussion posts will be graded according to their quality and appropriateness to the topic, following this grading rubric.

 

IMPORTANT: Discussion Bonus Points

Students should make at least one post for each Learning Module. Discussion posts can also provide bonus points. Most of the modules will provide two or more opportunities for posts, and there is an opportunity to earn bonus points by providing additional posts to the discussion board. Bonus points--up to 2% of a student's course grade can be earned through these additional posts, based upon a student's overall average on these extra posts. If a student posts more than one time in a given module, the highest scoring post will be used to meet the course requirement and then the other(s) will be used for bonus points.

Although not required, students may wish to respond to at least one other classmate's posting to foster further discussion of the topic.

Electronic Submission of Assignments

 

All work is submitted online, unless otherwise noted by the professor or for special accommodations. As described before, students will complete Aplia assignments following a predetermined schedule for each module. In addition, students will complete practice exams and module exams for each module. These two types of exams are found by clicking on Assessments in the Course Tools menu.


Grading Policy

Here is the weighting for each component of the course:

 

Component Weighting

Aplia Assignments (see note below)

16 % of course grade
Discussion Board Posts 5% (A minium of 1 post per module)
Practice Exams 10 % of course grade (5 modules @ 2% per module)
Module Exams (4 of these) 44 % of course grade (11% per module)***
Final Exam 25 % of course grade
Total
100 %

 

 

NOTE: There will be 17 Aplia assignments during the semester. The Aplia grade will be based upon the highest 14 assignments completed (based upon the percentage score).

Grades will be determined following the grading scale shown below is set in accordance with the policies of The University of Alabama. The ranges detailed below will be followed.

 

Grade Average Range

Guaranteed Course Grade

90 % and higher

A

80 to 89%

B

70 to 79%

C
60 to 69%
D

59% and Down

F

GRADE DETERMINATION:There is no set distribution of grades for this course. My goal is for you to receive the highest grade that you can earn. The table above details a guaranteed range, but actual grade ranges are usually flexible downward, though this tends to vary by letter grade. However, in no case will the lower bound on D (or D-) grades fall below 50%. Final grades will follow the +/-grade policy in assigning final course grades.


Required Texts

UA Supply Store Textbook Information

  • MANKIW / PRINCIPLES OF MACROECONOMICS
    (Optional)
  • APLIA (DIGITAL BOOK) / PRIN OF ECON APLIA (ON CAMPUS)
    (Required)


Other Course Materials

All of the materials for this course are obtained via the internet. You will also complete homework assignments using the Aplia web site. Use this Registration Information to access the course materials on Aplia. Aplia is a required element of this class. Aplia is an online homework system that provides online assignments that are coordinated with the materials in the Mankiw textbook. You will complete regular assignments on this site. In addition, the electronic version of the Mankiw text—an e-book—is included as part of the access to this site. 

All of the materials for this course are obtained via the internet from two separate sources. The eLearning site will provide many of the course materials as well as being the means by which examinations will be given (using the Assessment link in the Course Tools). The second source is via a website called Aplia. 

IMPORTANT: Course Textbook

Registration with Aplia provides you with access to the course textbook, Principles of Macroeconomics, by N. Gregory Mankiw, 5th edition.

Use this Registration Information to get access to the course textbook and required assignments.

Aplia also provides access to an important tool that you will use to complete homework assignments. The ability to work through problems and develop the critical thinking skills are an important part of being successful in understanding macroeconomics. This is why these Aplia assignments are an important part of and a requirement in this course. To start this process, you will want to read the Registration Information, which will allow you to complete the registration process that will allow you to access all of these materials. If you wish to learn more about the the history of Aplia, its founder and its objectives, read this Washington Post article.

In addition, this bundle provides access to a series of online videos entitled Learning Path Videos. These are a set of presentations that feature an economist named Steve Tomlinson. The videos are organized in conjunction with the coverage of materials in the Mankiw textbook. I strongly urge you to make use of these video presentations as an integral part of your understanding of the topics covered.  You will receive a separate set of instructions as to how you will access these course materials.

The cost for access to all of this is $80—that is, access to the homework assignments, the Mankiw e-book and the Learning Path Tomlinson videos. (Incidentally, this price is generally less than buying a used hardcopy of the textbook.) Access to Aplia and to the e-book ends at the end of the semester. Students who want to obtain a hardcopy of the textbook can purchase this on the Aplia site, at a discounted price.

Alternative Textbook Options: You may wish to obtain a hardcopy of the text via some other method.  If so, the ISBN number for the textbook is: ISBN-10:0324589999 .  Please contact me for suggestions if you want to obtain a copy of the textbook through some other means.


Learning Options

 

The course, through Aplia and eLearning, provides a range of content that covers the course topics to assist each student in learning the material based upon his or her own learning style. In addition to the textbook, there are the following learning options:

  1. Narrated PowerPoint Presentations. Each Learning Module contains a set of PowerPoint presentations that feature discussions of the course materials produced by the course instructor. It should be noted that these presentations are different from the PowerPoint files produced by the publisher and from the Tomlinson videos, to provide additional insight into the topics that are covered.

  2. Learning Path Tomlinson Videos.  These videos are presentations that are organized following the sequence of the topics that are covered in Mankiw and provide useful discussions of the topics under consideration as well as examples to provide a context for the material being described. A suggested approach is to read the textbook material and then view the corresponding video for that material. You can view these videos through the Aplia web site. You should note that there are quizzes that you can complete on this site.  These quizzes are not required and are not part of your course grade. If you complete these quizzes, please do not email the results to me.

  3. PowerPoint Slides.  Within each learning module is a set of PowerPoint slides produced (by the publisher) for this textbook. Two different types of slides are provided: one is a set of slides that coordinate with the textbook content—these carry the tag “Lectures” in the link, and the others are supplementary slides which cover the same topics but have some different ideas and also include some problems to work covering specific ideas. These slides have the tag “Notes."

  4. Additional course materials. In each module, students will begin to develop their understanding of the macro-economy by a series of discussion posts that will require the student to assemble and discuss relevant data about the macro-economy in the US and in a selected country. The objective is to allow the student to develop his or her understand of the separate elements of the economy and, more importantly, how these are interconnected. Students are required to make these posts. Additional posts can be made with an opportunity to earn extra credit for the course. The focus of these posts is to broaden the learning experience and relate course materials to real-world macroeconomic situation.  For further detail on these discussion posts, please examine the description of these in each of the learning modules.

Proctoring Information

This course contains exams that must be completed under the supervision of a proctor. You will not be able to access the exam(s) without the assistance of the proctor. The procedures for finding a proctor are outlined in the two sections below.

Section 1: Proctor Arrangements In or Around Tuscaloosa, AL

Students living within a 50 mile radius of The University of Alabama campus must take the proctored exam(s) on the UA campus.  Two options are available to you:

  1. Option 1:  The C&BA Proctored Study Hall is open several days a week at both the Bashinsky Computer Lab and the E-Commerce Lab in Bidgood Hall (Room 373).  You may drop-in without an appointment whenever and wherever the C&BA Proctored Study Hall is open.  The C&BA Proctored Study Hall closes at specific times whether you are done with your exam or not, so be sure to allow yourself sufficient time to complete the exam.  Use this schedule for the C&BA Proctored Study Hall when planning your visit. This schedule changes frequently so check it before traveling.
  2. Option 2:  If the lab does not offer available dates and times you may choose to test in the Academic Outreach office in Room 127 Martha Parham West.  Testing is available Monday – Friday from 9:00 a.m. – 3:00 p.m.  Students must make an appointment to test at the Academic Outreach office. Please call (205) 348-7642 at least 48 hours in advance to make an appointment to take an exam at this location.  Walk-ins are not accepted. 

Section 2: Proctor Arrangements for Distance Students
Students living outside the 50 mile radius of The University of Alabama campus must find a suitable proctor.  You must use a proctor from any regionally accredited 2- or 4-year college or university.  Most institutions have testing services available.  You can use a current staff or faculty member at that institution if no specific testing center is available.  In some instances, a local librarian may serve as a proctor if testing at a 2 or 4 year college or university is not possible.  Military personnel only may take examinations under the supervision of a commissioned officer. 

After identifying your proctor, print and complete the Proctor Form.  Acquire all appropriate signatures and return the completed form to the Academic Outreach Office at the address or fax number provided on the form.  This form must be received at least 48 hours prior to your test.  Testing information will then be provided directly to your proctor by the Academic Outreach office.  You must schedule your testing date and time directly with the proctor.  Make sure they have received the testing information prior to your arrival


System Requirements

This course requires a high-speed Internet connection and the following free multimedia plug-ins:

  • Adobe Reader
  • Flash Player
  • PowerPoint Viewer
  • QuickTime, RealPlayer
  • Windows Media Player.
  • In the event that you will need a plug-in to listen to Media Site lectures, you will be prompted to download Silver Light.

You must have speakers installed and working properly on your computer before beginning the course. Contact techsupport@ccs.ua.edu for assistance with technical issues: phone 205-348-9157, toll-free 1-866-205-1011.

To be compatible with the requirements of Aplia, you will need to make sure that both the Flash Player and Java software are up to date; when using the Aplia site, you would want do the configuration test to determine if your computer has updated versions of the necessary software. If not, you can download these via the Aplia website if needed.

A headset with a microphone is ideal for using the Wimba Live Classroom, although a telephone connection is the minimum requirement.

All technical/compatibility issues with your computer should be reported to tech support for assistance (techsupport@ccs.ua.edu or 205-348-9157 or 866-205-1011).


Recommended Courses of Study

Effective student learning can be accomplished by following these guidelines. Academic success requires maturity, discipline, and structure.  It is strongly suggested that you develop a consistent pattern of regular study.
Here are several important instructions that will aid your study process and result in better performance in the course. 

  1. Read the syllabus carefully to fully understand the course objectives, especially the guidelines for grading and submission of all assignments.
  2. Read quickly through all the chapters assigned for each module to get an overview of the content.
  3. Work through the narrated PowerPoint slides for that chapter and review the textbook material in conjunction with the presentation. The two of these together can broaden your understanding of the materials.
  4. Complete a post on the Discussion Board for that topic.
  5. View the video lectures by Tomlinson for that chapter. An additional tool is the set of PowerPoint slides that are available to you. You can access these in the learning modules.
  6. Complete the Aplia assignments for each chapter in the module. If necessary, reread the chapter or section of the textbook that relates to the materials covered in the Aplia assignment. An important feature of Aplia is that it allows you to rework all or part of an assignment. Use this to improve your understanding of materials that you had difficulty with. Your score on the assignment will be the average over the scores for each time that you complete the assignment or a portion of the assignment. IT IS ESSENTIAL THAT YOU COMPLETE THE APLIA ASSIGNMENTS BY THE DUE DATES LISTED ON THE APLIA SITE. IF YOU DO NOT COMPLETE THESE BY THIS DATE, THEN YOU WILL NOT BE ABLE TO WORK THEM AND RECEIVE CREDIT FOR THIS WORK
  7. You may want to read each chapter again, with greater intensity. There are end of the chapter problems that can also improve your understanding of the materials. If it helps, take notes as you read or prepare a topical outline. Any time you have an opportunity to work problems, do so. It is crucial to your success that you be able to understand and apply the concepts developed.
  8. Use the other links available to you to improve your understanding. The publisher’s student support website, linked on the Course Contents page, has a great deal of useful information about topics under consideration. You may also want to seek the additional reading material you can find on various business-related publications. There is a link to some suggested sources on the Web Links page in your course.

Disability Statement

If you are registered with the Office of Disability Services, please make an appointment with me as soon as possible to discuss any course accommodations that may be necessary. If you have a disability, but have not contacted the Office of Disability Services, please call 348-4285 or visit 133-B Martha Parham Hall East to register for services. Students who may need course adaptations because of a disability are welcome to make an appointment to see me during office hours. Students with disabilities must be registered with the Office of Disability Services, 133-B Martha Parham Hall East, before receiving academic adjustments.

Policy on Academic Misconduct

All students in attendance at the University of Alabama are expected to be honorable and to observe standards of conduct appropriate to a community of scholars. The University expects from its students a higher standard of conduct than the minimum required to avoid discipline. Academic misconduct includes all acts of dishonesty in any academically related matter and any knowing or intentional help or attempt to help, or conspiracy to help, another student.

The Academic Misconduct Disciplinary Policy will be followed in the event of academic misconduct.


Severe Weather Protocol

In the case of a tornado warning (tornado has been sighted or detected by radar; sirens activated), all university activities are automatically suspended, including all classes and laboratories. If you are in a building, please move immediately to the lowest level and toward the center of the building away from windows (interior classrooms, offices, or corridors) and remain there until the tornado warning has expired. Classes in session when the tornado warning is issued can resume immediately after the warning has expired at the discretion of the instructor. Classes that have not yet begun will resume 30 minutes after the tornado warning has expired provided at least half of the class period remains.

UA is a residential campus with many students living on or near campus. In general classes will remain in session until the National Weather Service issues safety warnings for the city of Tuscaloosa. Clearly, some students and faculty commute from adjacent counties. These counties may experience weather related problems not encountered in Tuscaloosa. Individuals should follow the advice of the National Weather Service for that area taking the necessary precautions to ensure personal safety. Whenever the National Weather Service and the Emergency Management Agency issue a warning, people in the path of the storm (tornado or severe thunderstorm) should take immediate life saving actions.

When West Alabama is under a severe weather advisory, conditions can change rapidly. It is imperative to get to where you can receive information from the National Weather Service and to follow the instructions provided. Personal safety should dictate the actions that faculty, staff and students take. The Office of Public Relations will disseminate the latest information regarding conditions on campus in the following ways:

  • Weather advisory posted on the UA homepage
  • Weather advisory sent out through Connect-ED--faculty, staff and students (sign up at myBama)
  • Weather advisory broadcast over WVUA at 90.7 FM
  • Weather advisory broadcast over Alabama Public Radio (WUAL) at 91.5 FM
  • Weather advisory broadcast over WVUA 7. WVUA 7 Storm Watch provides a free service you can subscribe to that allows you to receive weather warnings for Tuscaloosa via e-mail, pager or cell phone. Check http://www.wvua7.com/stormwatch.html for details.