Economic Principles and Problems-Macro
Outcomes
- Understand how personal and government decisions involve trade-offs, the strengths and weaknesses of the American market system, and the proper role of the government in this system; this includes the similarities and differences with alternative economic systems.
- Understand how to evaluate a nation’s economic health in the short run (business cycles) and prospects for sustained long-run economic growth using measures such as unemployment, inflation, gross domestic product (GDP), and other factors.
- Demonstrate how models like the aggregate expenditure model, the aggregate demand model, and the aggregate supply model help us understand the ways in which positive and negative shocks impact economic growth (GDP), unemployment, inflation, business cycles, and other factors.
- Understand the difference between fiscal and monetary policy, the institutions that implement these policies, and how these policies can help achieve macroeconomic stability by using models.
- Understand global trade and the economic interactions of nations.
Description
This introductory course in macroeconomics studies the national economy as a whole and its interaction with the global economy. Measurement of economic health and the use of fiscal and monetary policies to address unemployment, inflation, and growth are analyzed.
Learning Model Architecture
This course has been designed to follow a weekly schedule in which students complete a set of learning activities. You are expected to complete all of the learning activities for each week in the order they are listed and avoid skipping ahead without finishing. For example, complete all the learning activities in Week 01 before beginning any learning activities in Week 02. The instructor may shift the order of completion for some assignments and may even extend the deadlines on a few assignments if circumstances warrant it for the whole class.
Due dates and times for assignments may be found by accessing the Calendar tool in I-Learn. In addition, all required assignments and tests have been set up to appear in the Coming Up list that you will see whenever you log in to I-Learn. Also, all activities will have information on when the assignment or assessment opens and when it closes (due date and time). These due dates and times listed in the activity directions are based on Mountain Standard Time in the United States of America.
The deans of the colleges at BYU-Idaho have determined that the average amount of study time that students will put in per week per credit is 3–4 hours. So, for a 3-credit class, the deans expect students to spend on average between 9 and 12 hours of total study time. For this course, on average, it will take students approximately 9 hours of study time to complete all the learning activities for each week. This is the amount of time that you should expect to put into this class each week if you want to get a passing “C” grade. Students working towards an "A" or "B" grade will usually need to put in more study time than 9 hours a week, maybe even beyond 12 hours per week. In order to keep up with the assignments and learn the most from this class, you should make sure you schedule about 1–2 hours a day to study for this class. Also, be aware that with this course there is no “time off” for holidays that might occur during the week. Consequently, you should make sure to arrange your study schedule so that any holiday activities do not keep you from completing learning activities by the posted due dates and times.
Tentative Schedule
The course has been designed to follow a weekly schedule in which students complete a set of learning activities. You are expected to complete all of the learning activities for each week in the order they are listed. The instructor may shift the order of completion for some assignments, and may even extend the deadlines on a few assignments if circumstances warrant it for the whole class. Please refer to the Calendar tool for more information.
Homework, Quizzes, and Assessments
- Each of the Aplia homework and the extra credit assignments will be completed by following a link to your Cengage/MindTap textbook.
- The reading preparation assignment will be a reading outline along with the questions that will be on the group quiz.
- These questions should be answered before you meet with your group to take the group quiz. It will not be turned in for a grade, but it is essential that it is complete before you take the group quiz.
- You will take a group quiz that will have the same questions given as part of the individual preparation assignment. The group quiz will be taken together as you meet with your group in Zoom. Instructions on how to take the group quiz are provided.
- The homework questions are open book and may be attempted three times with no penalty.
- Quizzes are also open book, but each question may only be attempted once.
- There are no time limits imposed for any of these assignments.
Other Activities
In addition to the weekly homework and quiz assignments, there are other activities to better familiarize you with the material and also to allow you to ask questions and share ideas for improvement. These activities are arranged in a way that, working through them from top to bottom, will be most beneficial for you. Many of these activities will also be graded and will account for a portion of your final grade.
Exams
You will have a time limit of three hours to take each exam. Exams 1, 2, and 3 will consist of 50 questions worth two points each. Each exam will be counted toward your final grade. Each exam is closed-notes/closed-book and must be taken using an online proctoring software program. Exams are administered through I-Learn.
Required Materials
The required online Cengage/MindTap textbook, Principles of Macroeconomics, 8th + MindLink for MindTap® Economics is the only required text for this course.
- This textbook and accompanying materials are digital and will be accessed directly through this course in I-Learn. (Do not attempt to access the materials through any other website; simply use the links provided in the course.)
- Rather than purchasing the text, your student account will be automatically charged after the add/drop deadline. (If you plan to drop this course, do so before the add/drop deadline to avoid being charged for the digital textbook.)
An additional free resource: WebNotes.
Since this is an online course, it is your responsibility to arrange to use a computer with internet access. The higher the speed of your internet access, the easier the course will be for you to complete. It is also your responsibility to make sure you have the word processing, spreadsheet, and presentation software required to complete your assignments.
In order to participate in online meetings with the instructor and your classmates, you are required to have a microphone for your computer and a set of earphones that will work with your computer. You will use the microphone and earphones to talk with others in a variety of learning activities in this course. Directions for setting up your microphone and earphones to work with the online meeting tool will be provided in a learning activity in the Course Introduction week.
Grading Policies
Grades will be based on a weighted percentage of the total number of points students may earn from major exams, assignments, quizzes, and completion of any other learning activities assigned by the instructor. You can find information in your I-Learn gradebook on the different weighted grading categories and their percentages. You may check your progress in the course at any time by accessing the gradebook. Below are the weights of the assignments, and they are subject to change.
Grade Category Percentages
Points will be distributed according to the following percentages:
Group Quizzes (Drop lowest one): 10%
Aplia Homework (Drop lowest one): 15%
Quizzes (Drop lowest one): 20%
Discussion Boards and Application Activities: 15%
Exams: 40%
Letter Grades
In assigning final grades for this course, the instructor will use the BYU-Idaho Standard Grade Definition criteria listed below.
A
The grade of “A” represents outstanding understanding, application, and integration of subject material and extensive evidence of original thinking, skillful use of concepts, and ability to analyze and solve complex problems. It demonstrates diligent application of Learning Model principles, including initiative in serving other students.
B
The grade of “B” represents considerable/significant understanding, application, and incorporation of the material, which would prepare a student to be successful in next level courses, graduate school, or employment. The student participates in the Learning Model as applied in the course.
C
The grade of “C” represents sufficient understanding of subject matter. The student demonstrates minimal initiative to be prepared for class. Sequenced courses could be attempted, but mastering new materials might prove challenging. The student participates marginally in the Learning Model.
D
The grade of “D” represents poor performance and initiative to learn, understand, and apply course materials. Retaking a course or remediation may be necessary to prepare for additional instruction in this subject matter.
F
The grade of “F” represents failure in the course.
Grading Scale:
| A | 100%–93% |
| A- | 92%–90% |
| B+ | 89%–87% |
| B | 86%–83% |
| B- | 82%–80% |
| C+ | 79%–77% |
| C | 76%–73% |
| C- | 72%–70% |
| D+ | 69%–67% |
| D | 66%–63% |
| D- | 62%–60% |
| F | 59% and lower |
Disclaimers
The instructor reserves the right to change any part of this syllabus at any time during the semester in order to adapt to changing course needs. You will be notified prior to any changes that may take place.
You should read the following course policies and make sure that you understand what these policies mean to you regarding your interactions with the instructor and other students in this course. If you have questions about any of these policies, you should contact your instructor immediately.
Personal Honor
In this class, our interactions with each other should be guided at all times by the following principles of personal honor.
Principles of Personal Honor: “True at all Times”
- Personal honor is integrity in fulfilling commitments, responsibilities, and covenants.
- Personal honor begins with willing obedience and is fully developed when we consistently govern ourselves by true principles.
- Personal honor increases spiritual strength through the ministry of the Holy Ghost.
- Personal honor is central to every aspect of our lives, including the BYU-Idaho experience.
- Personal honor brings us joy and happiness; deepens our desire to love, serve, and lift others; and ultimately helps us to become more like the Savior.
You should make sure that you understand the above principles of personal honor. It is important for all class members to strive to follow the above principles in our associations with one another.
If you have any questions about how personal honor is related to academic honesty or the university’s dress and grooming standards, please read the University Standards document to get more information.