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Principles of Macroeconomics
ECON 2105 Fall 2012 (Last revision, 8/12/2012)
Faculty Information
Instructor:
Office Location:
Office Hours:
Voice:
E-Mail:
Webpage:
Reza Kheirandish
College of Business, Room T-237
Main Campus: Tuesday and Thursday 9:40am-11:10am & 12:30pm-1:15pm, Wednesday: 12:45am:1:30pm
Peachtree City: Thursdays 2:35pm-3:35pm
other times by appointment or email
678-466-4532
http://faculty.clayton.edu/rkheiran
The Mission of the School of Business
Our Mission is to: Prepare a diverse student body for business and professional careers by providing a quality
education. Provide a student-centered environment, using technology to enhance student learning. Support faculty in applied and instructional research and service to the profession. Serve primarily the metropolitan Atlanta area.
Course Information
General: 1) All students taking this course with this instructor should use this syllabus.
2) All of the tests in this course will be given on the campus on the days and times shown below.
3) I am teaching one section of this course:
Section 06, CRN 89362: TR 3:35PM- 4:50PM Room # T-116 (Main Campus)
Section 04, CRN 88957: TR 3:35PM- 4:50PM Room # 119 (Peachtree Campus)
For Academic Calendar, see http://www.clayton.edu/Portals/1/calendar/fall-2012-academic-calendar.pdf
Attendance is expected and will be rewarded (see extra credit).
Course Description: Application of microeconomics principles to economic problems; the theory of production, market
structures, income distribution, government regulation and business, labor organization, externalities, and
international trade.
Prerequisites: Math 1101 or higher.
Course Goals: This course will focus on the introduction to the study of Microeconomics--the study of firm and household
economic behavior. By developing economic tools, a framework of analysis will be built to aid in the
understanding of the many facets of modern economic activity. Special attention will be placed on analyzing
the laws of supply and demand, profit maximization under different market structures, regulation of
business by government, poverty and income inequality, and international trade.
Course Learning
Outcomes: The overall objective of this course is to familiarize the student with the microeconomic tools necessary to
understand the strengths and weaknesses of market processes in guiding the allocation of scarce resources.
Also, student should learn basic economic concepts and more about the economic system in which we live.
Upon successful completion of this course, the student should:
1. Relate, identify and be able to use Economic concepts such as scarcity, opportunity cost, and choice.
(LO1)
2. Learn how to apply economic models such as production possibilities, supply and demand, and other
diagrams to express economic relationships and to predict the consequences of changes in relevant
variables. (LO2)
3. Relate to and calculate microeconomic concepts and variables such as elasticity, marginal and average
costs, and marginal and average productivity, examine and analyze consumer decision making, firm theory,
market structures, labor markets and basic international trade. (LO3)
Textbooks, Supplementary Materials, Hardware and Software Requirements
Required Textbook: Krugman, Paul and Wells, Robin, Macroeconomics, 3rd
edition bundled with ECON Portal. ©2013, 2009,
2006 by Worth Publishers. This bundle also comes with a complimentary copy of The Cartoon Introduction
to Economics, Volume Two: Macroeconomics (Paperback, 2012) by Yoram Bauman (Author), Grady Klein
(Illustrator). Attend the first class to learn about textbook options. Note that you may purchase the
ECON Portal and use the electronic version of the book that comes with it, but the bundle option offered in
the bookstore is a very reasonable offer.
The following chapters of the book is going to be covered (time permitting):
Ch1: First Principles
Ch2: Economic Models: Trade-offs and Trade (Appendix: Graphs in Economics)
Ch3: Supply and Demand
Ch4 Price Controls and Quotas: Meddling with Markets
Ch5: International Trade (Appendix: Consumer and Producer Surplus)
Ch6: Macroeconomics: The Big Pictures
Ch7: GDP and CPI: Tracking the Macroeconomy
Ch8: Unemployment and Inflation
Ch9: Long-Run Economic Growth
Ch10: Saving, Investment Spending, and the Financial System (Appendix: Toward A
Fuller Understanding of Present Value)
Ch11: Income and Expenditure (Appendix: Driving the Multiplier Algebrically)
Ch12: Aggregate Demand and Aggregate Supply
Ch13: Fiscal Policy (Appendix: Taxes and the Multiplier)
Ch14: Money, Banking, and the Federal Reserve System
Ch15: Monetary Policy (Appendix: Reconciling the Two Models of the Interest Rate)
Time permitting, the following Chapters will also be covered
Ch16: Inflation, Disinflation, and Deflation
Ch17: Crises and Consequences
Ch18: Macroeconomics: Events and Ideas
Ch19: Open-Economy Macroeconomics
For the textbook companion website, go to:
http://bcs.worthpublishers.com/krugmanwellsmacro3/default.asp#t_768077____
Also, I am using ECON portal for HW. You need to register for ECON portal at:
http://courses.bfwpub.com/krugmanwellsmacro3.php
Supplementary
Materials: I strongly recommend each student read newspapers and periodicals that report on economic issues. In
particular, I recommend Atlanta Journal of Constitution, The Wall Street Journal, The New York Times,
The American Prospect, Fortune, and The Economist.
The motivated student may wish to read the following books:
Smith, Adam An Inquiry into the Nature and Causes of the Wealth of Nations Buchanan, James Cost and Choice Friedman, Milton Capitalism and Freedom
Heilbroner, Robert The Making of Economic Society
Dixit, Avinash and Barry Nalebuff Thinking Strategically.
Friedman, Thomas The World Is Flat 3.0: A Brief History of the Twenty-first Century
Each book is a classic, and provides a broader view of economics than the text.
For a fun way to learn microeconomics read: The Cartoon Introduction to Economics: Volume One:
Microeconomics (Paperback, 2010) By: Yoram Bauman (Author), Grady Klein (Illustrator).
ITP Choice: Each CSU student is required to have ready access throughout the semester to a notebook computer that
meets faculty-approved hardware and software requirements for the student’s academic program. See
http://itpchoice.clayton.edu/ for full details of this policy.
Technology
requirement:
You must have Microsoft Office Professional installed on your laptop. This is available as part of the CSU
Technology fee. Go to the following web site to schedule installation: http://thehub.clayton.edu/.
You must have access to the Internet, either through the local area network on campus, or through an
Internet Service Provider (ISP) of your choice (the costs for the ISP are your responsibility). No excuses
will be accepted for inability to access the Internet. Please note that America Online (AOL) sometimes
does not work very well with GA View. Also, be aware that Apple computer may have some issues with
GA View, too.
You must have a CSU e-mail account, which you are required to check on a regular basis (everyday). You
must also be able to access ECON portal and GA View. Your HW will be posted on ECON portal. All
grades will be posted on GA View. I make every effort to ensure that the grades are accurate; nevertheless,
it is your responsibility to check for errors. My preferred method of communication is email.
Assessment and Grading
Testing Procedures: There will be three mid-term exams plus a final examination. All of the exams in this course will be given on
the days and times as it is scheduled in this course syllabus. No make-up exams will be given unless it is pre-
approved by the instructor. Contact me well before the test if you will miss a test for a legitimate reason (then
I will decide if it is acceptable and what shall be done). Failure to take an exam will result in a grade of zero
for that exam.
Exams will be partly multiple-choice and also include short answer/essay questions. Some problem solving
skills will be required. Exams may include material from all reading assignments, all lectures, and all ECON
portal and other Internet assignments (see below). Important points will be emphasized in class.
Do your own work. You may not use your book or notes during exams. If you need assistance, talk to me. I
am happy to help, even during an exam. You must have a regular calculator to use during exams/quizzes.
Make sure to carry your calculator and a few #2 pencils everyday you come to class and especially on exam
days. Cell phones will not be accepted to be used as a calculator. Simple calculators are available at most
dollar stores. All students are required to submit 4 sheets of scantron to me during the first 2 weeks of
classes (available at the bookstore for purchase).
Grading Procedure: HW and quizzes: HW is given weekly on ECON Portal. Points Available: 200
Three exams: Points Available 500 (each 166.7 points, 3*166.7 = 500)
Final Exam: Comprehensive final exam covers all material covered through the semester. Points Available:
250 Attendance/Participation: Points Available 50 (see extra credit below)
Total 1000 points possible.
Your Percentage = (Total Points Accumulated) / 10
Attendance/Participation credits:
I will reward up to 50 points credit for Attendance, class participation and discussion. There will be no penalty
for missing three hours (two sessions) of classes during the semester with or without excuse. After that, for
each additional session missed 15 points will be deducted from the extra credit (if you miss 6 sessions of your
classes, you will not get any credit for attendance). If you arrive in class late and miss to sign in at the
beginning of class, it will be considered as a missed class. Also, to receive full extra credit you should actively
engage in class discussions and ask relevant questions and answer the questions I ask in class. By the way, any
student misconduct in class will also be penalized by a 5-20 points per occurrence deduction from the extra
credit, for example if I see a student is surfing internet while I am teaching I deduct some points from his/her
attendance/ participation credit in addition to possible dismissal from class.
Jim Wood Speakers Series: Please go to: http://business.clayton.edu/speakers.htm
School of Business Jim Wood Speaker Series: You can earn up to 10 points Extra credits (five bonus points
per event) for attending any of the speaker sessions in the College of Business’ Jim Wood Speaker Series. Go
to the above website for the schedule. To earn the bonus points you must attend the presentation and sign the attendance roster or swipe your Laker
ID card. Also:
1. The doors will be closed at the start time; late arrivers will not be admitted. 2. Remember that you are representing Clayton State School of Business. Be attentive
and courteous (e.g., cell phones off, no chatting with your neighbor, no eating). 3. Look for opportunities to participate in the question and answer session by asking a
thoughtful question. 4. Remain for the entire presentation. Leaving early during the Q & A session is very
rude.
Dress for Success: Please go to: http://www.clayton.edu/business/dressforsuccess and read the policy.
Mid-term Progress
Report:
The mid-term grade in this course, which will be issued sometime before October 2, 2012, reflects
approximately 25% of the entire course grade. Based on this grade, students may choose to withdraw from
the course and receive a grade of “W.” Students pursuing this option must fill out an official withdrawal
form, available in the Office of the Registrar or online at http://adminservices.clayton.edu/registrar/, before
mid-term, which is on 10/05/2011.
Grading Scale: 90% & above A
80% to 89.99% B
70% to 79.99% C
60% to 69.99% D
Below 60% F
W: Withdrawal from the course before the withdrawal deadline
WF: Withdrawal from the course after the withdrawal deadline
Assignments and Participation
Class Participation: Students must participate in all interactive aspects of the course.
Punctuality: All active learning assignments--interactive assignments-- are due on the specified dates and time which will
be announced by the faculty during the semester or on class website/ECON portal announcement page.
Failure to submit an assignment on the date and time specified by the faculty will result in the loss of the
grade of that assignment. Because ECON portal is designed to post the correct answers right after deadline,
even one minute delay in submitting your HW will lead to completely missing the corresponding grade.
Therefore, make sure to do your HW well in advance.
Course Ground Rules
Attendance at all class sessions is expected and you are responsible for knowing what transpired in every
class. Except in an unforeseen emergency, I expect to be informed beforehand if you need to miss a
class. After each exam, I post the grade on the GA View and let you know. You can then come and see your
exam during my office hours, and review it and ask questions. I will keep your exams in my office all the time
and you can NOT take them with you. However, I will go over the test in class, as well. You are expected to
learn how to navigate in GA View, keep abreast of course announcements on ECON portal, use the assigned
university e-mail address as opposed to a personal e-mail address, and be intellectually curious. The Academic
Honor Code covers all assignments (projects)--students must abide by policies in the University Catalog, and
Student Handbook. When you are attending this class, you should turn off your beeper, cell phone, iPod,
palm, and other electronic devices that you have with you. You may use your laptop computer, when it is
required and permitted by the instructor, in this classroom. While using your laptop to take notes or follow the
power-point notes, any web surfing, email checking, chat, etc. is strictly prohibited and observing such a
behavior will result in dismissal from class. Only non-programmable calculators may be used on the
exams. Leaving the class in the middle of a session is not allowed unless it has been authorized by me in
advance.
Guidelines for Communications
Email: Always include a subject line with your course name and number as well as the section number.
Example: econ2105-04 Remember without facial expressions some comments may be taken the wrong way. Be careful in
wording your emails.
Use standard fonts.
Do not send large attachments.
Special formatting such as centering, audio messages, tables, html, etc. should be avoided unless
necessary to complete an assignment (or project) or other communication.
Respect the privacy of other class members.
Use my e-mail address [email protected] to communicate with me--NOT the class e-mail (list
serve), or GA View email, please!
General Expectations
I expect students to:
attend all scheduled classes. Always be on time
UNIVERSITY ATTENDANCE POLICY Students are expected to attend and participate in every class meeting. Instructors establish specific policies
relating to absences in their courses and communicate these policies to the students through the course syllabi.
Individual instructors, based upon the nature of the course, determine what effect excused and unexcused
absences have in determining grades and upon students’ ability to remain enrolled in their courses. The
university reserves the right to determine that excessive absences, whether justified or not, are sufficient cause
for institutional withdrawals or failing grades.
have read the textbook and required supplemental readings before class
turn in assignments when due
check your email on a regular basis
ask questions and participate in class discussion and answer my questions
be intellectually curious
The Academic Honor Code covers all assignments--students must abide by policies in the University
Catalog, and Student Handbook
For the University's "Basic Student Responsibilities," go to the following address and check student
handbook for the policies and procedures: http://www.clayton.edu/Portals/46/docs/student-handbook.pdf
The link below is to the Basic Undergraduate Student Responsibilities from Clayton State's online
Academic Catalog: http://www.clayton.edu/publications
Please familiarize yourself with these responsibilities as part of your contractual relationship with Clayton
State University.
CSU Policy Concerning Children in Classes and On-campus
Children are not permitted in classrooms. Faculty will not allow children to be present in their classrooms. If a student brings children to class, the
student and children must be told to leave the classroom. Unattended children will not be permitted on-campus (in hallways, the gym, the library, outside of buildings,
etc.). Public Safety (678) 466-4050 will be notified if unattended children are observed on campus. If faculty or
staff observe unattended children on-campus, they are responsible for informing Public Safety. The campus
police will take any unattended children to the classroom of the parent, and will get the parent out of class.
The parent will not be permitted to bring such children into the classroom.
Alternative Format/Disabilities Service
Individuals with disabilities, who need to request accommodations or obtain this document (or any document
in the School of Business) in an alternative format, please contact Disability Service Coordinator at 678-466-
5445 or e-mail [email protected] or visit the website at:
http://www.clayton.edu/disability/home. Contact me before the end of first week of classes and let me know
about your situation.
Exam Dates
Date & Time
First Exam: September
Second Exam: October
Third Exam: November
Final Exam: As announced by University
Course Changes
This course syllabus provides a general plan for the course. The instructor reserves the right to make changes
to the syllabus; including: assignments (projects), timetable, and examinations, etc., in order to accommodate
the needs of the class as a whole and fulfill the goals and objectives of the course. If changes are necessitated
during the term of the course, the instructor will immediately notify students of such changes by e-mail
communication and/or announcement in class.
APPLYING FOR ADMISSION TO THE SCHOOL OF BUSINESS
Upon completion of 45 hours of credit which must include ACCT 2101, ACCT 2102, ECON 2105, ECON
2106, BLAW 2106, CPTG 2201 and MATH 1231, you are eligible to apply for Admission to the College of
Business. If you are close to meeting this requirement, you must schedule an appointment with one of the
School’s academic advisors. If you need any assistance with registration or scheduling, please ask me to help
you contact them.
FINANCIAL AID
Financial Aid, including grants, scholarships and loans, can only be used to cover the costs of courses that are
required for your currently declared major. It is your responsibility to contact the Office of Financial Aid to
request an adjustment to your award if you register for courses that cannot be covered. If you do not do so,
you will eventually be billed for any financial aid that you have received for courses that were not required for
your declared major. It is also your responsibility to re-apply for financial aid each academic year;
applications become available January of each year for the following fall semester. If you are unsure about
your major, go to the Duck to see how it is listed. If you are unsure about what is covered under financial aid,
please call the financial aid office. Also, please note that the HOPE Scholarship only covers 127 hours. (There
are some minor exceptions for students taking additional hours to pursue the CPA designation.) Courses that
you have withdrawn from will count towards those hours. For more information contact the office of Financial
Aid on web at: http://www.clayton.edu/financial-aid.
Center For Academic Success
Center for Academic Success (CAS) offers a variety of personalized academic services to all Clayton State
University students, including staff and peer tutoring and multimedia instruction. The CAS develops and
facilitates instructional resources, workshops, and courses to support all students’ academic success. The
Learning Support Program, Supplemental Instruction,, and the Regents' Writing and Reading Skills courses
are also coordinated by the CAS. Take advantage of their services.
