Principles of Macroeconomics

Economics  202

Yakima Valley College

Autumn Quarter 2019 – Line Item #3305

 

Instructor: Timothy Jeske, Ph.D.                                         Office: Glenn-Anthon 167

Telephone: 574-4809 (Voice Mail)                                       E-mail: tjeske@yvcc.edu or through Canvas     

Office Hours: M - F 10:30 - 11:20, or by appointment.

Course Description

This course examines the organization of and issues surrounding the modern U.S. macro economy.  Students will capture a glimpse of the development of fiscal and monetary policy, and the impact of economic policy on the business cycle, inflation, unemployment, and economic growth.    

This course fulfills five credits towards the social science distribution requirement towards completion of the Associate of Arts degree at Yakima Valley College.  

The social sciences are a collection of academic disciplines that use a variety of methods to investigate human behavior and culture. These methods share a commitment to explanations derived from observable, measurable, and verifiable phenomena. Claims of knowledge require such empirical evidence to be considered valid.  The social sciences generally are committed to employing knowledge for the improvement of the human condition.  In the context of American democracy, social scientists typically share a commitment to influencing public discussions and policies regarding individual liberty, social responsibility, and what constitutes a more just society.

Institutional Assessment: In addition to the content of each discipline, YVC emphasizes the development of the following three outcomes: Communication (C), Computation/Analytical Reasoning (C/AR), and Human Relations (HR). As a student, your abilities may be assessed in one or more of these outcome areas. For further information, refer to general education outcomes in the catalog.

Course Prerequisites

Students enrolled in Economics 202 must be eligible for ENGL 101 or successful completion of BA 138 and MATH 084/085 or successful completion of BA 115.

Course Outcomes 

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

• Students will analyze and apply current economic information in reference to unemployment, inflation, interest rates, and the money supply.
• Students will apply fiscal policy levers used by the government to achieve different macro economic outcomes.
• Students will analyze monetary policy changes and how the Federal Reserve Banking System influences the economy.

 Course Objectives and Abilities Practiced

Students will have the opportunity to practice Analytical Reasoning (AR). 

To reach the designated Outcomes of this course, students will:

• interpret relevant language and acronyms used in the study of macro economics,
• identify the causes and implication of business cycles and their influence on income, unemployment, and inflation,
• develop a systematic approach to accounting for GDP, GNP, NDP, NNP, and NI,
• solve the consumption function for aggregate expenditure, define aggregate supply and aggregate demand, recognize destabilizing factors related to aggregate supply and aggregate demand, and apply fiscal policy to stabilize the economy, 

• compare current macro economic principles with historical macro economic principles,

• solve the consumption function for aggregate expenditure, define aggregate supply and aggregate demand, recognize destabilizing factors related to aggregate supply and aggregate demand, and apply fiscal policy to stabilize the economy,
• apply deficit spending and identify the positive and negative aspects of public debts,
• apply supply-side and demand-side fiscal policy to correct any instabilities, and,
• identify the significance of money and banking and the role of the Federal Reserve System, calculate money multipliers, and use appropriate methods to expand and contract the money supply.

Required Texts:

Lucky you! Your e-textbook is free and a print version is available at very low cost! The book is available in a wide variety of free online formats via the website listed below. You can use the book in whichever format(s) you want; we recommend that you download the entire .pdf so that you always have access to your book.

Principles of Macroeconomics, from OpenStax College, ISBN 1938168259, https://cnx.org/contents/J_WQZJkO@9.2:3ZlSW1C7@6/Introduction

Printed copies at a significantly reduced textbook rate are also for sale via the YVC college bookstore or www.openstaxcollege.org

Disability Support Services - YVC is committed to providing access for all students wishing to attend its campuses and complies with Section 504 of the Vocational Rehabilitation Act of 1973 and the Americans with Disabilities Act (ADA). As part of this commitment, the college’s Disability Support Services (DSS) program works on an individual basis with qualifying students by providing appropriate classroom accommodations, access to adaptive equipment, and barrier-free facilities. http://catalog.yvcc.edu/content.php?catoid=5&navoid=322

Student Rights and Responsibilities

The YVC student handbook states that the following is a violation of college rules: buying, copying, or borrowing or otherwise plagiarizing another’s images, ideas, evidence, examples, opinions, or other original products or documents from published, unpublished, or electronic sources for the purpose of deceiving an instructor as to the product’s origination.  If the student is found plagiarizing or in otherwise being academically dishonest, s/he may receive an immediate failure and disciplinary action may be taken in accordance with the code procedures.  The 2018-19 YVC catalog and the most current copy of Students Rights and Responsibilities reviews your rights and responsibilities as a student. http://catalog.yvcc.edu/content.php?catoid=5&navoid=317

Class Attendance: Requirement and Policy

Regular class attendance is an important element for this course because students who do not regularly attend class generally do not keep up with the assigned readings and do not succeed to their full potential.  A high rate of absences by several students also slows down the progress of the entire class.  Students are expected to make every effort to schedule other appointments around this class period including medical or dental appointments.  You are expected to arrive to class on time; arriving late disturbs other students and will not be tolerated.    

Students are responsible for withdrawing themselves from the course. The instructor can administratively withdraw students who fail to attend class on a regular basis.  The last day to withdraw from the course is Friday, November 15, 2017. The instructor will not give administrative withdrawals or an incomplete grade after November 15 unless there is a bona fide medical or family emergency and the student is currently passing the course.

Graded Assignments:

Your final course grade will be determined from the satisfactory completion of the following graded assignments:

• Four in-class examinations; @ 75 points each = 300 points
• 10 homework quizzes; @ 20 points - 200 points. 
• Bonus points added to some homework and exams; other bonus point opportunities at instructor's discretion.  

About the exams: Please purchase Scantron Form - FORM NO. 886-E .  These forms are available for purchase in the YVC Bookstore.  Exams will be multiple-choice questions and answer free response questions. There is no make-up examination without prior approval of the instructor. If you are not able to attend class on an exam day you should arrange with the instructor to take the exam early.  Late, make-up examinations will be penalized 5 points for each day late and no make-up exam will be given after two class sessions from the original exam day.  There is no make-up exam for the fourth exam.       

About the quizzes: The ten quizzes are to be completed by the due date/time.  They are timed, and available for the student to attempt only one time.  Do not open the quiz until you are ready to take and complete the quiz.  Be sure when you take your quiz that the technology you are using is reliable and take it when you won't be interrupted. If you are taking the quiz on your own computer I will not allow another attempt should your technology fail or you were interrupted during the quiz time.  I recommend that you take the quiz in a YVC computer lab so that should a technology problem occur that prevents you from completing the exam it can be verified by the lab technicians and I can allow you another attempt.  

The following percentage scale based on 500 points (note there are also bonus points added to several exams) determines your final grade:

100% - 94% = A  

93.9% - 90% = A-

89.9% - 87% = B+        

86.9% - 83% = B 

82.9% - 80% = B-

79.9% - 77% = C+        

76.9% - 73% = C 

72.9% - 70% = C-

69.9% - 67% = D+        

66.9% - 60% = D 

59.9% - 0%   = F 

 

Course Section Schedule   (Subject to Instructor Change)

Section One: Introduction to Economics & Macroeconomics.    September 23 - October 4

Readings: Textbook, Chapters 1 - 3

Section Two: Macroeconomic Perspective  October 7 - 31

Readings: Textbook, Chapters 6 - 9

Section Three: Macroeconomic Theories    November 4 - November 15

Readings: Textbook, Chapters 11 - 13

Section Four: Government and the Economy: Monetary and Fiscal Policies    November 18 - December 6

Readings: Textbook,  Chapters 14 & 15 , 17 & 18