Course Syllabus - EC 202

Course Overview and Objective:  The central objective of the course is to provide an introduction to economy-wide assessment of economic activity.  Articles from the World Wide Web will be used as the primary source for public policy issues.  Emphasis will be on developing economic reasoning rather than learning knowledge only.  Enhancing the student's ability to read, understand, and interpret economic events will be a prime goal.  Rather than memorization, practice through problem solving will be important for success.

Required Course Materials:  Students have a choice of formats for the required custom book --- either an e-book or a printed book. (See note 2 at the bottom of this paragraph for information on the printed book option.) The e-book option is the custom eTextbook and Included Study Guide:  Introduction to Macroeconomics EC 202, McGraw-Hill Primus Online, ISBN: 0-390-62664-3 (includes selected chapters from Frank and Bernanke's Principles of Macroeconomics textbook and study guide, second edition).  Directions for accessing the e-book can be found on ANGEL in the global course items folder (the first folder), at the "finding and using course materials" page.
Note 1:  If you decide on the e-book option, it is strongly recommended that you choose "download" rather than "on-line viewing."  With on-line viewing you can run into internet access, firewall, printing, and slow connection problems all of which reduce value.  However, with the download option, you want to be certain to download it on to the computer you will be using throughout the semester since it is copy-protected.
Note 2:  An alternative to the e-book is a more expensive printed version, ISBN: 0-07-326916-6, available in bookstores.

Office Hours: MWF 11:30-12:00 p.m.  and on-line - TH 8:00-8:30 p.m. on AOL instant messenger service (AIM) with screen name econprof2 --- additional and/or alternate on-line times will be scheduled as convenient for student schedules --- AIM can be downloaded for free at:
http://www.aim.com/download.adp?aolp=

Examinations and Assignments:   There will be two exams in addition to the final exam.  The final exam is mandatory (0.0 course grade if missed without a satisfactory explanation) and will not be given early under any circumstances.  Each exam will be cumulative and will replace the preceding exam grade if there is improvement except an adjusted composite final exam grade will be used in place of the final exam grade.  Thus, the adjusted composite final exam grade is the course grade if there is improvement on it, but see special attendance requirements and assignment information below for how the adjusted composite final exam grade is determined.  Otherwise, the first two exam grades will have a 25% total weight (each with equal weight if no improvement) and the adjusted composite final exam grade will have a weight of 75% with the weighted average rounded to the nearest half grade (with .25 and .75 rounded down except if the normalized assignment score is 95% or more of the maximum assignment score) to determine the course grade (but a rounded weighted average of .5 receives a 1.0 course grade).  (With this grading method, it is not possible to receive a course grade of 4.0 without receiving a composite final exam grade of 4.0.)

There will be graded assignments during the semester that must be completed by the due date.  Everyone will receive extra credit of 18% of the maximum assignment score total to cover unavoidable late assignment completion and to cover possible graded assignment recording and construction problems.  Consequently, no excuses will be accepted for late assignment completion or submission issues regardless of the reason.  (To be safe from computer problems, always submit the assignment response at least 48 hours prior to the due date and be certain that the message, "Your response has been submitted successfully," appears afterwards.)

 The composite final exam score will be determined by setting the maximum assignment score equal to one-half (1/2) of the number of final exam questions.  The number of correctly answered final exam questions will be added to the normalized assignment score to determine the composite final exam score.  The normalized assignment score is determined by adding 18% of the maximum assignment score to the number found by multiplying the maximum assignment score by the fraction of the graded assignment points answered accurately and then rounding the total to the nearest whole number (with any .5 number rounded up) --- but the normalized assignment score can never be more than the maximum assignment score.  It will be necessary to maintain a record of graded assignment scores to be able to compute the composite final exam score.

Grading Example:  If the final exam contains 40 questions, then the maximum assignment score is equal to 20.  If 60% of graded assignment points are answered accurately, then 12 (60% of 20) is added to 3.6 (.18*20) to obtain 15.6, which is rounded to 16 for the normalized assignment score.  If, for example, 32 final exam questions are answered correctly, then the composite final exam score is 48 (16 + 32).  A scale is applied to determine the composite final exam grade.  Furthermore, if, for example, 48 is a 3.0 and if 51 is a 3.5, then if no more than four quizzes are missed (see below), a bonus of three points is earned so the adjusted composite final exam grade will be 3.5.  If, instead, more than four quizzes are missed, then the adjusted composite final exam grade will be 3.0 (see below for excused absence determination and other quiz absence provisions).  This adjusted composite final exam grade of 3.0 is the course grade if, for example, the grade from the first two exams is 2.0 (since it is higher).  If, instead, the grade from the first two exams is 4.0, the course grade would still be 3.0 (.75*3.0+.25*4 rounded down from 3.25 to 3.0 since the normalized assignment score of 16 is less than 19, which would have, instead, been rounded up to 3.5 with a course grade of 3.5 if the normalized assignment score had been 19 or 20).

All computer exam, graded assignment, and quiz grading is assumed accurate unless there is reasonable evidence (more than just a conflict with hand-recorded copies of scantron answers and more than just individual assignment scores not recorded) to indicate otherwise.  (It is the student's responsibility to submit responses to graded assignments prior to their deadlines.  Only saving, instead of submitting, responses will result in an assignment score of zero correct. Only the score on the last submission before the deadline for each graded assignment will count in the determination of the normalized assignment score.)  Scores on any graded assignments containing answer or question defects, with such defects discovered, and with the instructor notified, prior to the final exam, at the instructor's discretion, may not count in the determination of normalized assignment scores with a change of those defective graded assignments to practice assignments for all students.  However, notification to the instructor of any such graded assignment defects on the date of, or after, the final exam will be considered past the deadline for such notices and, consequently, will have no effect on normalized assignment scores.  After course grades are submitted to the Office of the Registrar, they will not be changed (either up or down) without demonstration of a grading error; that is, grading in conflict with the provisions stated in this syllabus.

Important: The first exam is Monday, October 8, from 7:00 p.m. to 9:00 p.m. at B108 Wells Hall.  The second exam is Monday, November 12, from 7 to 9 p.m. at B108 Wells Hall.  There will be no make-up exams for either of the first two exams regardless of the reasons.  (However, for exam conflicts involving university events, or other activities valuable for the student, approved in advance, and for documented medical emergencies, the highest of the first two exam grades may be used in determining the grade for the first two exams.)  Due dates for graded assignments are in the ANGEL lesson folders.  Graded assignment due dates may be postponed, but only upon request prior to the due date.

Important:  The adjusted composite final exam grade involves special requirements of attendance and can be higher than the actual composite final exam grade.  A surprise quiz may be given at any time of any class.  Missing more than four will result in the loss of an addition (a bonus) to the composite final exam score.  However, a quiz shall not be considered missed if there are compelling reasons qualifying as excused absences as defined in what follows.  Only documented emergency medical care (during the quiz) and participation in university events will be accepted as compelling reasons for at most, normally, three (3) excused absences.  (No excuses will be accepted if documentation is first presented at or after the final exam and may not be accepted if first presented more than one week after the absence unless earlier supporting documentation submission was not possible.)  All other absences including those caused by vehicle breakdowns, family vacations, bus arrival times, medical or legal reasons, religious observances, and family deaths are to be included in the four quizzes automatically (no supporting documentation is needed) allowed to be missed without losing the bonus.

  If no more than four quizzes are missed and if the composite final exam score is as much as three points away from a higher grade, then the adjusted composite final exam grade will be that higher grade.  (In effect, the quiz bonus is three points added to the composite final exam score.)
NOTE: THE EFFECT OF MISSING MORE THAN FOUR QUIZZES MAY BE TO LOWER THE COURSE GRADE FROM WHAT IT OTHERWISE WOULD BE to the extent that a higher composite final exam score results in being necessary to achieve a grade.

(The incorrect listing of name or student number on a quiz or exam can be equivalent to missing it if the scanning computer is unable to report properly as a result.  For similar reasons, students must take exams and quizzes in the section in which they are officially registered.)  (Plan for the possibility of future necessary or involuntary absences when deciding whether to miss a class.  Students who cannot regularly attend class, regardless of whether absences are unavoidable, should enroll in a section without attendance requirements, if a satisfactory grade is expected.)  (EC 202-730 is a recommended alternative, which is an on-line course with the same instructor. There are no attendance requirements, but also no quiz bonus.)

Course Web Addresses:
Instructor Web Page
ANGEL Course Management System

Suggestions/Messages: During the semester an unofficial survey of students will be made available for ratings and comments.  All responses and comments are automatically anonymous.  In addition to providing anonymous comments and suggestions for improvement, students are encouraged to send email messages directly for rapid action and a response.

Email:  obst@msu.edu

Policy on Academic Honesty: No student shall:
1. Claim or submit the academic work of another, as one's own.
2. Procure, provide, accept or use any materials containing questions or answers to any examination or graded assignment without proper authorization.
3. Complete or attempt to complete any graded assignment or examination for another individual without proper authorization.
4. Allow any examination or graded assignment to be completed for oneself, in part or in total, by another without proper authorization.

I. Guidelines for Learning Economics

II. Overview of Macroeconomics
CT,CS: Chapter 4.

III. Measuring GDP and Unemployment
CT,CS: Chapter 5.

IV. Measuring the Price Level and Inflation
CT,CS: Chapter 6.

V. Financial Markets and Money
CT,CS: Chapter 11 from 281-291 and chapter 10.

VI. The Short-Run
CT,CS: Chapter 12.

VII. Aggregate Demand and Output in the Short-Run
CT,CS: Chapter 13.

VIII. Stabilization Policy
CT,CS: Chapter 14 from 361-383.

IX. International Finance
CT,CS: Chapter 17.

X. Economic Growth
CT,CS: Chapter 7.

Note:  CT refers to the custom textbook (from Frank and Bernanke) and CS to the included study guide.)

Links to other sites on the Web

Instructor Web Page
ANGEL Course Management System
Department of Economics

© 2007 obst@msu.edu

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