MACROECONOMICS                                                                                                      IRVINE VALLEY COLLEGE
Martha Stuffler                                                                                                Web Page: http://faculty.ivc.edu/mstuffler
Office B262A, Telephone:  (949) 451-5759                                                              Office Hours:  TTh 11:00 – 12:30 p.m. 
Email:  mstuffler@ivc.edu                                                                                                and Sat 10:00 a.m. – 12:00 p.m.

SYLLABUS AND COURSE OUTLINE

 

Macroeconomics studies economic aggregates such as Gross Domestic Product, income, inflation, and unemployment.  Concepts discussed include business cycles, diverse macroeconomic theories, fiscal and monetary policy, international trade and finance, and the Federal Reserve System.  We employ basic mathematics and use graphs throughout this course. 

 

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

1.  Define the economic problem of scarcity and explain how it relates to the concept of choice. 

2.  Describe and analyze the components of total spending in the economy—consumption, investment, government, and net exports.

3.  Quantitatively describe and analyze the economy in terms of GDP, NDP, NI, PI and DI, in both real and nominal terms.

4.  Use a macroeconomic model (Classical or Keynesian) to evaluate the appropriateness of a given level of output and prices, apply the fiscal policies that are warranted, and describe the effect of such policies.

5.  Explain the banking and monetary system and analyze the role of money, credit, and Federal Reserve monetary policy in economic stabilization.

6.  Evaluate the interaction of monetary and fiscal policies as they are applied to the problem of economic stabilization.     

7.  Explain the role of international trade based on comparative advantage on the domestic economy.

8.  Describe the effects of trade restrictions and exchange rate changes on the domestic economy.    

 

REQUIRED MATERIALS: 

Macroeconomics Resource Guide, 5th edition, new and unused, by Martha Stuffler outlines course lectures, organizes the structure and format of classroom presentations.  Each student must use their own copy of the Resource Guide during each class to record lecture notes, complete problems, perform graphical analysis and participate in problem solving and class discussions.  In addition, the Guide provides hundreds of practice problems and homework assignments. 

 

Calculator and Resource Guide brought to every lecture. 

 

The textbook, Macroeconomics, 8th edition by Roger A. Arnold supplements the lectures, but does not need to be brought to class. The textbook is on reserve in the library. 

 

Three Scantron Forms No. 882 for each exam.

 

Access to your IVC email account (or forward your IVC email, instructions on my webpage) and MySite.
ASSESSMENTS:  Exams are application-oriented and in-depth using multiple choice, short-answer, essay, and graphical analysis based on material covered in lectures and if assigned, outside readings.  Students must complete all parts of the three exams or earn an "F" grade for the course. 

 

Students must complete all exams on the date and time with the class for which they are registered.  The instructor does not give make-up exams.  If you cannot attend your scheduled exam with advance notice to the instructor, you may take the exam early.  If you miss an exam, since no midterm score may be dropped for grade calculation, you must drop the course or earn an "F". 

 

                                     Points Possible/Percent

     Midterm 1                        100                25%

     Midterm 2                         100                25%

     Final exam                       100                25%

     Graded Homework           100                25%

                     Total                 400 points = 100%

 

Homework assignments are tear-out sheets in the back of the Resource Guide. They are collected at the beginning of class on the due date.  Late assignments, if accepted, will bear opportunity costs of a decreased point value.  Any assignment not turned in to the instructor during class and later discovered in the instructor's mailbox will be late or may not be accepted. 

 

No assignments will be accepted for any reason if these assignments have been returned to any class.  Missed assignments may not be made up.

 

GRADING:  Total possible points for the course are 400: 

A = 360 or more points      (90% or higher)

B = 320 to 359 points        (80% but less than 90%)

C = 280 to 319 points        (70% but less than 80%)

D = 240 to 279 points        (60% but less than 70%)

F < 240 points                   (Less than 60% or for cases

                                              of academic dishonesty)

 

Academic dishonesty includes turning in work that is not your own; removing test questions or other test material from the classroom; discussing test material with students who have not taken the exam; looking at another student's assignment or test and copying their answers, etc.  Students should read and understand this syllabus and the Student Code of Conduct in the class schedule.

 

The instructor retains graded materials that have not been returned to students for 90 days after grades have been posted.  If any student wishes to review these materials used for grade determination, the student must contact the instructor before this date.