Online
Course Alignment
General Education Outcomes are the knowledge, skills, abilities, attitudes, and behaviors that students are expected to develop as a result of their overall experiences with any aspect of the college, including courses, programs, and student services, both inside and outside of the classroom. The General Education Outcomes specifically learned in this course are:
- Communication
- Critical Thinking
Course information
Subject Code: ECON
Course Number: 1553
Course Name: Principles of Macroeconomics
Course Description:
Students will study the nature and method of macroeconomics and the fundamental operations of the American economy, interpret national income information and study forces which determine levels of production and employment. Students also will study monetary and fiscal controls and the impact of government on the U.S. economy. IAI: S3 901.
Prerequisite Narrative:
ENGL 1422 with a grade of C or better or appropriate assessment score - Must be taken either prior to or at the same time as this course. MATH 1424 with a grade of C or better or appropriate assessment score, or STEM pathway of transitional math - Must be completed prior to taking this course.
Lecture Hours: 3
Lab Hours: 0
Credit Hours Narrative: 3 Credits
Academic Division: Business and Technology
IAI number: S3-902
IAI title: Principles of Macroeconomics
General Education Outcomes: Communication, Critical Thinking
Outcomes
Define the features of the economic perspective
Explain how the market system determines what to produce, how to produce it, and who obtains it
Explain how changes in supply and demand affect equilibrium prices and quantities
Explain how gross domestic product (GDP) is defined and measured
Identify the general supply, demand and efficiency forces that give rise to economic growth
Explain the types of unemployment and inflation and their impact on an economy
Distinguish between fiscal and monetary policy and their impact on an economy
Analyze the impact of exchange rates on trade deficits
Faculty Contact Information
Office Hours: M/W – 3:00 – 5:00 PM
Outside of these office hours, you can always reach me through email. I will be happy to schedule virtual meetings with you outside of these hours.
Course Information
At the end of this course, students will be able to:
- Define the features of the economic perspective
- Explain how the market system determines what to produce, how to produce it, and who obtains it
- Explain how changes in supply and demand affect equilibrium prices and quantities
- Explain how gross domestic product (GDP) is defined and measured
- Identify the general supply, demand and efficiency forces that give rise to economic growth
- Explain the types of unemployment and inflation and their impact on an economy
- Distinguish between fiscal and monetary policy and their impact on an economy
- Analyze the impact of exchange rates on trade deficits
You do not have to purchase the book. The textbook is not required for this course -- just the ability to access Canvas for required readings and weekly submissions.
Description of Assignments:
Reflections: Each week, you will be asked to complete assigned readings out of the textbook and additional works as assigned. Each class will contain both a lecture and class discussion of the material you read. Based on these, you will complete a written reflection of what you learned and what questions you still have. A document with prompts will be accessible through Blackboard. Some of these will include a mathematical problem to solve, some will not. Reflections will be due the following Monday at 5PM. (The evening before the following week’s Tuesday class)
Class Discussion: Each week will include discussion posts on Canvas regarding the material that has been covered in readings and in lecture, as well as relevant current events. Your participation in these discussions is graded, both on the quality of the insights and questions you provide and the volume of your participation. You will be expected to complete one post in response to the week’s reading that is no less than 500 words, two responses to your peers that is no less than 200 words, and one response to a note you received on your original post that is no less than 200 words.
Exams: The midterm exam will cover the first half of the course. The final exam will cover the second half of the course, as well as select topics from the first half of the course. Exams will include short answer and mathematical questions, as well as the use of graphs or charts.
Evaluation:
| Item | Points |
| Class Participation | 25 |
| Weekly Reflections | 25 |
| Midterm Exam | 50 |
| Final Exam | 100 |
| Grading Scale | Grade |
| 90%-100% | A |
| 80%-89% | B |
| 70%-79% | C |
| 60%-69% | D |
| Below 60% | F |
Business, Technology & Human Services
Dean, Paul Carlson; 815-802-8858; V105; pcarlson@kcc.edu; Division Office – W102; 815-802-8650
ATTENDANCE POLICY & MAKE-UP POLICY:
You are expected to complete all assignments at home.
You are responsible for completing assignments on time. If you choose not to complete an assignment on time, you will receive a 0 for that assignment. There are no do-overs.*
- If you require additional time to complete an assignment for a personal emergency, email me to accommodate your situation.
- Make-up Exams are given with a valid reason. Please email me prior to the exam if you are not able to make it. No tests are given prior to their scheduled time.
Grading Timeline:
Graded work will be returned in a timely manner. Reflections will most often be returned the following week, discussion grades will most often be posted promptly, and exams will most often be returned within two weeks.
Tips for Success:
A strong grade in this course will not be attainable through lectures exclusively. You will need to be actively involved in your learning in order to succeed. Complete your readings, participate in class discussions, and ask questions to further your understanding. If you do these things, there will be no surprises in the midterm or final course examinations.
Course Methods of Instruction:
This course will rely heavily on lecture and online class discussion. As this is an online offering, much of the responsibility will fall on YOU to remain up-to-date with weekly assignments. This course will progress in weekly blocks, with the entire week’s content being made available to you at the beginning of the week. You will be expected to complete this content at your pace, respective of deadlines and due dates. You will be provided reading assignments for each week in class and through Canvas. It is my expectation that you will have read these prior to engaging with the respective video lecture and class discussion.
The course is designed for you to study consistently throughout the semester. There are a number of assignments that include reading, videos, questions, problems, etc. that are to be completed each week in class. There are no extra credit opportunities so consistency is key for success in this course.
Tentative Course Schedule:
Module 1:
- week 1: What is Economics, the miracle of trade
- week 2: Supply and demand
- week 3: Equilibrium
- week 4: Economic calculation
- week 5: Elasticity and profit
- week 6: Price controls and economic knowledge
- week 7: Taxes and subsidies
- week 8: Midterm Exam
Module 2:
- week 9: Externalities
- week 11: Competition and Property
- week 12: Monopoly and monopoly price
- week 13: Price strategy
- week 14: Market structures
- week 16: Lighthouses and public goods
Important Dates:
January 12th - first day of class
March 9th – 13th – Spring Break
Final Exam: TBD – will be completed online.
College Policies, Resources and Supports
For information related to the Student Code of Conduct Policy, Withdrawal Policy, Email Policy, and Non- Attendance/Non-Participation Policy, please review the college’s Code of Campus Affairs and Regulations webpage, which can be found at catalog.kcc.edu under the Academic Regulations & Conduct Guide.
KCC offers various academic and personal resources for all students. Many services are offered virtually, as well as in person. Please visit Student Resources - Kankakee Community College to access student resources services such as:
- Clubs and organizations
- Counseling and referral services
- Office of disability services
- Student complaint policy
- Transfer services
- Tutoring services, etc.
The materials on this course are only for the use of students enrolled in this course for purposes associated with this course. Further information regarding KCC's copyright policy is available at https://kcc.libguides.com/copyright.
|Course syllabus/calendar is subject to change.