Greetings Everyone!
On behalf of Solano College, I wish to welcome you to Econ 1, Principles of Economics
I am Professor Thom Watkins and I will be your instructor for the class. You will find that the information that you gain from this course will be valuable to you whether or not you enter the Business field. Some of it will amaze and astound you. You will find yourself exclaiming on occasion, “I didn’t know that!” I know that you will find it all very interesting. My job is not only to give you the information, but to make you successful and to give you the desire to want to continue to learn.
I have attached the Syllabus. Please read it carefully as it gives valuable information concerning the Course.
Please note that we will be using CONNECT for this class and some of the assignments will be done in, or submitted through CONNECT.
· The CONNECT web address is: http://connect.mheducation.com/class/t-watkins-econ-1-mwf-8am-80084
If you received this email, please reply Sooooo, as your first task, I would like you to respond to this e-mail so that we can make sure you will have access to all course communication. I will see you on Monday, August 17th at 8:00 am in Room 801.
Have a great semester!
Thom Watkins
SOLANO COMMUNITY COLLEGE
PRINCIPLES OF ECONOMICS
FALL 2015
ECON 001 / CRN 80084
COURSE MATERIALS
Professor Thom Watkins
SOLANO COMMUNITY COLLEGE
Principles of Economics, Econ 001, CRN:80084
FALL 2015
Aug 17th thru Dec 20th
Instructor: Thom Watkins Office: Room 523
Telephone: 707.864.7140 E-Mail:
Class Hours & Location: Mon-Wed-Fri. 1:00Pm, Rm 506.
Text: Macroeconomics: Principles, Problems and Policies 20th ed. (SCC customized)
by Campbell McConnell, Stanley Brue, and Sean Flynn
Office Hours: Below are my office hours. If you are unable to meet with me during these hours, please contact me to make arrangements for a scheduled appointment. Feel free to consult with me about any assistance you may need concerning the course you are taking:
Mondays, Wednesdays, and Fridays: 9:00 – 10:00 am
Tuesdays and Thursdays: 11:00 – 12:00 pm
Academic Standing or Personal Problems/Situations: If you have any questions concerning your academic standing, please contact me directly and immediately.
Academic Regulations: Each student is encouraged to familiarize him/herself with the “Academic Regulations” outlined in the Solano College catalog. See page 5 of this syllabus for a partial description of the academic regulations.
Testing and Grading: Your performance on the individual tests will comprise the majority of your final grade for the course. Grading will be based on the following scale:
90 – 100 “A”, 80 – 89 “B”, 68 – 79 “C”, 58 – 67 “D”, 57 and Below “F”.
All assignments must be completed using Connect. Your assignment must be submitted prior to the start of class on the day that it is due. Late assignments are not accepted. The homework consists of an assignment, and LearnSmart for each chapter.
You have a current events project that will be worth 50 points. It is due at the end of the semester before finals start. Absolutely no late projects will be accepted. See page 4 of the syllabus.
The tests will primarily consist of thirty multiple choice questions, each worth 2.5 points (30x 2.5 = 75) and one essay question worth twenty five (25) points for a total of 100 points. For scheduled tests, consult your course outline on page 2 of this handout.
Special Notes on Testing:
1. You will need to purchase (available in the College Bookstore) a SCANTRON MINI ESSAY book, FORM #886-E. You will also need a #2 pencil.
2. MAKE-UP TEST….YES, BUT… there will be an automatic 10 points taken off for not taking the test at the scheduled time. Make-ups will be given on the last regularly scheduled class period of the semester. You can only make up one test. If you fail to take the missed test, an automatic score of “0” will be given.
Attendance: After you are late to class twice, each additional time you are late to class will be handled as an absence. Be on time.
Other Grade Factors: 1) Attendance (see p.5), 2) Participation.
Tentative Outline
Chapters Title
1 Limits, Alternatives, and Choices (up to pg. 12) and the Appendix
3 Demand, Supply, and Market Equilibrium
TEST #1 CHAPTERS 1 and 3 HOMEWORK DUE THE DAY OF THE TEST!
7 Measuring Domestic Output and National Income
8 Economic Growth
9 Business Cycles, Unemployment, and Inflation
TEST #2 CHAPTERS 7, 8 and 9 HOMEWORK DUE THE DAY OF THE TEST!
10 Basic Macroeconomic Relationships
11 The Aggregate Expenditures Model (up to pg. 250)
TEST #3 CHAPTERS 10 and 11 HOMEWORK DUE THE DAY OF THE TEST!
11 The Aggregate Expenditures Model - Adding the Public Sector (starting on p.250)
13 Fiscal Policy, Deficits, and Debt
TEST #4 CHAPTERS 11 and 13 HOMEWORK DUE THE DAY OF THE TEST!
14 Money, Banking, and Financial Institutions
16 Interest Rates and Monetary Policy
TEST #5 - FINAL FINAL: CHAPTERS 14 AND 16 HOMEWORK DUE THE DAY OF THE TEST - Wed, Dec 16, 8:00am
Homework
The homework assignments are available in Connect and must be completed and submitted via Connect. There are several components to the homework. There will be a graded assignment for each chapter in which most questions are worth 1 point each. When completing the assignment, you will be able to check your answer to each question one time.
You will also need to complete Learn Smart for each chapter. You will be graded on participation. Each chapter is worth 5 points. If you complete Learn Smart, then you will receive full credit. If you don’t complete Learn Smart then points will be deducted based on the amount that was incomplete.
All of the components will be due on the day of the test where the test covers the same chapters as the homework.
Student Learning Outcomes
Describe basic economic concepts, identify market equilibrium and be able to recommend appropriate fiscal and monetary policies to reduce unemployment and control inflation and increase GDP.
Classroom Rules
Cell phones can not be out during class.
Text messaging is not allowed during class.
Headphones are not allowed in the classroom.
Current Events Project
The current events paper must be typed and it is due at the end of the semester prior to the start of finals week. You must use a minimum of 5 newspaper articles within the last year and write a minimum of 3 complete pages. Articles from any other source require the instructor’s approval. Font should be 12 point Times New Roman and double-spaced with 1 inch margins all around. You will need to include a bibliography using MLA citation format. Be sure to cite your sources appropriately. In your current events paper you will need to apply concepts you learned in class to the information in the articles.
You will need to include a copy of all of your articles.
Scenario: You are an economist writing a memo to the President of the United States addressing the current status of the economy, the problems facing the U.S. economy, and the policies that should be implemented (fiscal and monetary) to fix our current problems and achieve the United States’ economic goals. To fully assess the state of our economy you will need to consider the following and any other relevant information about the economy:
· Inflation – what is the inflation rate? Good or Bad? Cause of inflation?
· Unemployment – what is the unemployment rate? Good or bad? Why? Type?
· GDP – what is GDP? What does it mean? Good or bad? Why?
· Aggregate Expenditures – rising or falling? What does it mean? Why? Good or bad?
· Phase of the Business Cycle – Based on above, what phase are we in? Why?
Policy Recommendations:
· Fiscal Policy – higher/lower taxes and government spending. Impact on budget, aggregate expenditures, GDP, and employment.
· Monetary Policy – higher/lower interest rates. Assess the impact on investment spending, aggregate expenditures, GDP and employment.
Your explanations must answer the questions above and include additional information. Then using the information from your newspapers articles, analyze the economy based on the criteria above to determine the problems the U.S. economy faces.
Thoroughly explain the reasoning behind your recommendations using theories and concepts you learned in class.
This is not graded based on right or wrong, but how well you support your ideas using the information in the articles and in class and following instructions. The paper is also graded based on proper grammar, punctuation, spelling, and MLA citation.
1
STUDENT RESPONSIBILITIES
Attendance and Participation
Students must attend the first meeting of their classes each semester in order to verify their class enrollments. Students failing to appear may be withdrawn from class rolls. Regular attendance and participation is required of all students enrolled in courses and laboratories at Solano Community College. This includes regular attendance, completion of examinations, assignments, participation in class activities and discussions. Instructors shall provide students with written statements describing course requirements, grading standards and course prerequisites.
Regular attendance is an obligation assumed by every student at the time of registration. Absences per semester should not exceed the number of hours or the number of days, as determined by the instructor, that a class meets per week. Absences in excess of the maximum may result in students being dropped from classes or having their grades lowered. Students who fail to attend their classes may be dropped by their instructors no later than the end of 62.5 percent of a full-term class, short-term class, or summer session.
Students have the responsibility for verifying their enrollment status. If students withdraw from classes, it is their responsibility to make sure that drop cards have been submitted to the Admissions and Records office or that they have completed the withdrawal online at MySolano.
It is the responsibility of students to know the status of their attendance records and to complete all academic work missed due to absences. Compliance with the above regulations may be waived in the presence of verifiable extenuating circumstances including accidents, illnesses, shift changes and temporary changes in military assignments. Students who are dropped from classes because of unsatisfactory attendance and/or participation may petition their instructors for class reinstatement. Instructors may reinstate a student by signing an add card and writing “Reinstate” on the card. The add card must be submitted to the Admissions and Records office.
Withdrawal from Classes
Students are responsible for officially dropping from classes and verifying that drop cards are submitted to the Admissions and Records office or complete the drop process using the web online services. Non-attendance or non-payment of fees is not a guarantee of removal from a course and does not alleviate responsibility to pay fees.
Students who do not officially drop courses may receive an “F” for the term and incur a student debt.
Courses should be dropped online. Courses dropped after 30% of instruction through the end of 62.5% of instruction will be recorded as a “W” on the student’s record. A student must petition the Academic Council for a “W” after the last day to drop if extenuating circumstances apply. Documentation shall be required.
Short-term or summer session courses, which are less than a full semester in length, dropped during the first 30% of the class will not appear on the student’s record. Courses dropped 31% to 62.5% of the term/session will be recorded as a “W” on the student’s record. Students should refer to their Schedule Bill for course specific deadlines.
Withdrawal from College
Students who find it necessary to drop all courses during the semester are required to fill out a Withdrawal Card at the Admissions and Records office or withdraw using the web online services. Seeing a counselor is advised before deciding to withdraw. It is important to clear any debts owed to the College before leaving the College. Failure to withdraw properly could result in a failing grade and a student debt.
Source: SCC Catalog 2014-2015
TO THE STUDENT: A WAY TO LEARN ECONOMICS
For many beginning economics students, FEAR can best describe their feelings prior to taking the course. Economics has often been labeled a HARD subject to master. BUT IT NEED NOT BE.
Below is just one plan of study that may benefit you.
STEP 1: Read the behavioral objectives: Can you do any of them? Do you have any preconceived notions about the topics to be discussed?
STEP 2: Read the assigned chapter relatively rapidly without attempting to understand portions of it that you find difficult. Put it away for a few hours or even a day.
STEP 3: Reread the chapter, stopping at each point where you have difficulty and noting such difficulties on a separate sheet of paper. Look at the new ideas, concepts, and terms when you first encountered them. Do they make sense? If they don’t, reread the material – yes, over and over. J
STEP 4: Draw the graphs yourself (explore them), reading the captions (legends) in the book as you do so. Do they make sense? If they don’t, it means that you missed an important theoretical concept or its application.
STEP 5: Read each assigned question or problem. Try to answer these without going back to the text materials. Then if you need to review the material – do so.
STEP 6: Read through the glossary items. By now they should be familiar. (4 x 6 cards)
STEP 7: Read the point-by-point chapter summary: Do all of the points make sense? If they don’t, go back to the appropriate sections.
STEP 8: (OPTIONAL) Use the study guide. This may be particularly appropriate just prior to examinations. If you have mastered the chapter materials, the study guide will reinforce your mastery of them and also improve your ability to do well on exams.
STEP 9: REREAD THE CHAPTER in preparation for an exam.
STEP 10: To quote Nike: JUST DO IT! JUST DO IT! JUST DO IT!
The above study program is not necessarily rigid and can be done in a different order. Depending on your ability to understand the material, you can skip various steps. The program outlined is basically for a student who wishes to fully master all of the materials assigned by the instructor.
Previous Students’ Comments
v “Before I started this class, I assumed that it would be like high school economics. It turned out to be a lot more in depth and much tougher than I expected. I spent more time on this class than any of my other classes which included psychology, English, and history. A huge help was the study guide. I would not have passed this class without it.”