Associate Professor: Yuna Chen, Ph.D.

Office: Collins Hall, Room 210

Phone: 912.260.4251 Email: ychen@sgc.edu

Homepage: http://faculty.sgc.edu/ychen/

Online Learning Webpage: http://faculty.sgc.edu/vista/index.htm

Office Hours: 9:00 – 10:30 am or by appointment

 

I. Course Description
This is a principles of economics course intended to introduce students to concepts that
will enable them to understand and analyze economic aggregates and evaluate economic
policies.

II. Required Textbook and Materials
(1) Principles of Macroeconomics, by Yuna Chen, Manfred Fabritius, and James Willis.

First Edition. ISBN 1-56226-576-8. Copyright 2006 by CAT Publishing Company.

(2)  A calculator. (A simple one with +, -, x and / is sufficient).

III. Course Content
Chapter 1. Introduction
Chapter 2. Scarcity and Economic Development
Chapter 3. Supply and Demand
Chapter 4. Components of an Economic Society

Chapter 5. Measuring National Income and Product

Chapter 6. Unemployment and Inflation
Chapter 7. Economic Fluctuations and a Record of Growth
Chapter 8. Aggregate Demand and Aggregate Supply

Chapter 9. Fiscal Policy and the Multiplier Effect
Chapter 10. Money and Commercial Banking
Chapter 11. Monetary Policy and Central Bank

 

IV. Course Objectives

In completion of the course, a student should be able to

(1)   demonstrate the ability to measure gross domestic product, unemployment, and inflation;   

(2)   distinguish the difference between business cycles and economic growth;

(3)   interpret how Aggregate Demand and Aggregate Supply determine equilibrium price level and output in the short-run and long-run;

(4)   name the multiplier concept, compute the multipliers, and indicate its qualifications and limitations;

(5)   demonstrate the understanding of fiscal policy and/or monetary policy, their limitations and relative advantages and disadvantages, and how they affects aggregate economic activity;

(6)   distinguish the essential differences that separate the Classical and Keynesian Schools in macroeconomics;

(7)   identify the arguments pro and con for a policy of laissez-faire versus government activism in the management of macroeconomic policies;

Note: This course will enhance the following General Education Learning Outcome

A.       Graduates will apply critical thinking processes in the development of informed opinions and values.

B.       Graduates will demonstrate the ability to communicate at a college level in written and oral form.

F.        Graduates will demonstrate sufficient knowledge of the history, nature and interactions of individuals and groups to understand the individual's role in the community, state, nation and world.

H.       Graduates will demonstrate the ability to use appropriate technology to produce presentations and reports and/or to conduct research and data analysis.

V. Class Schedule

VI. Requirement

(1) Three online exams must be taken on the exam dates listed in the table above before 7:50 pm. Make-ups will be given only to students with extreme illness or tragedy. Had you missed Exam1 or Exam 2, contact the professor as soon as possible. Each make-up exam contains 10 short essay questions. Make-up exams are closed book and will be administered in Collins. There will be no make-ups for the final exam. There are 220 possible points in each exam. Missing any one of the tests or exam will be graded F.

(2) Homework must be completed by 7:50 pm via WebCT Vista on the due day listed above. No credit for late homework. Homework assignments are worth 20 points each. There are 11 homework assignments thus the total scores are 220.

(3) WebCT Activity Participation. Students will be awarded credits by actively participating in the WebCT activities. There is one activity per chapter and each activity is worth 10 points. Total participation points are 120.

(4) Academic honesty is a requirement. Cheating of any type will not be tolerated. Punishment is a failing grade in the course. Please see current SGC Student Handbook regarding Dishonesty.

VII. Final Grade
You may apply the following formula to find out your total scores of the course:
1st exam scores (highest possible = 220)                    Your score       __________ 
2nd exam scores (highest possible = 220)                   Your score       __________ 
Final exam scores (highest possible = 220)                 Your score       __________ 
Homework scores (highest possible = 220)                Your score       __________ 
WebCT participation (highest possible = 120)            Your score       __________ 
                                                                                    Total scores    __________
You can then find out your grade by using the following range:
900-1000 A;    800-899 B;      700-799 C;      600-699 D;      Below 600 F.

VIII. Special Needs Statement
Students requiring classroom accommodations or modifications because of a documented disability should discuss this need with the instructor at the beginning of the semester.  Students who have not presented validation for learning disabilities from the Regents' Center for Learning Disabilities (University System of Georgia) should complete proper paperwork with Ms. Angela Nuga in Student Support Services.  The telephone number is (912) 260-4435.  Students who have not presented validation for physical disabilities should register with the Office of the Vice President for Student Affairs.  The telephone number is (912) 260-4430.