ECON 151 : Economic Principles and Problems (Macro)

Outcomes

  • Understand how personal and government decision involves 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 one lesson per week. You are expected to complete all of the learning activities for each lesson in the order they are listed. Also, you should complete each lesson in order and avoid skipping ahead without finishing a lesson. For example, complete all the learning activities in Lesson 01 before beginning any learning activities in Lesson 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 Upcoming Events 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.

No matter where you are in the world, assignments are due at the same time. The time and date an assignment is due doesn't shift according to your time zone. To help you with this, I-Learn gives users the ability to adjust the time zone so that everyone can see deadlines in their own relative time. Each student must update his or her own time zone settings. Update your settings by following the instructions in the "How Do I Set My Timezone?" tutorial.

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 to 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 lesson. 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 to 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 one lesson per week. You are expected to complete all of the learning activities for each lesson in the order they are listed for each lesson. 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 Course Schedule for more information.

Homework, Quizzes, and Assessments

Each lesson module has the following structure:

Overview

Due Date 1 

Due Date 2

Due Date 3

Additional Resource (Optional)

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 lesson 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 on a live Google Hangouts on Air session. Instructions on how to take the Group Quiz are provided. The homework questions may be attempted three times with no penalty and they are open book. 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 the 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.  

An additional free resource will be the WebNotes.

Since this is an online course, it is your responsibility to arrange to use a computer with internet access. The higher speed you have for 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 lesson.

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, you may visit the University Standards web page (http://www.byui.edu/Documents/catalog/2015-2016/University%20Standards.pdf) to get more information.

Students with Disabilities

BYU-Idaho is committed to providing a working and learning atmosphere which reasonably accommodates qualified persons with disabilities. If you have any disability which may impair your ability to complete this course successfully, please contact the Disabilities Services by phone at 208-496-9210 or via email at disabilityservices@byui.edu. Reasonable academic accommodations are reviewed for all students who have qualified, documented disabilities. Services are coordinated with the student and instructor by this office. If you need assistance or feel you have been unlawfully discriminated on the basis of disability, you may seek resolution through established policy and procedures.

Sexual Harassment

Title IX of the Education Amendments of 1972 prohibits sex discrimination against any participant in an educational program which receives federal funds, including federal loans and grants. Title IX also covers student-to-student sexual harassment. If you encounter unlawful sexual harassment or gender-based discrimination, please contact the Dean of Students, Kip Harris, at 208-496-9200 or via email at harrisk@byui.edu.