Teaching Portfolio - Kansas State University · taking \sel es" or pictures that illustrate personal applications of economic principles we learned in class

$Page 1: Teaching Portfolio - Kansas State University · taking \sel es" or pictures that illustrate personal applications of economic principles we learned in class$
Teaching Portfolio

Sheryll Namingit

November 16, 2016

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Contents

1 Teaching Philosophy 3

2 Teaching Interests 5

3 List of Courses Taught 5

4 Teaching Award 5

5 Teaching Assessment and Students Comments 5

5.1 Teaching Evaluation (TEVAL) Statistics . . . . . . . . . . . . . . . . 5

5.2 Comments from TEVALs . . . . . . . . . . . . . . . . . . . . . . . . . 6

5.3 Sample Unsolicited Feedback . . . . . . . . . . . . . . . . . . . . . . . 8

6 Teaching Method 9

6.1 Storytelling . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9

6.2 Showing Media Clips . . . . . . . . . . . . . . . . . . . . . . . . . . . 10

6.3 Conducting Class Experiments . . . . . . . . . . . . . . . . . . . . . . 10

6.4 Using Social Media . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12

6.5 Polling the Class . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15

7 Appendix A: Raw Copies of TEVAL Summaries 16

8 Appendix B: Course Materials and Sample Work 21

8.1 Sample Syllabus . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21

8.2 Sample Homework . . . . . . . . . . . . . . . . . . . . . . . . . . . . 23

8.3 Sample Examination . . . . . . . . . . . . . . . . . . . . . . . . . . . 26

8.4 Econ Selfie Project and Sample “Selfie” Submission . . . . . . . . . . 38

8.5 Instruction on How to Conduct Macroeconomic Analysis, SampleFeedback to Students and Sample Student Work . . . . . . . . . . . 40

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1 Teaching Philosophy

As a teacher, I aim to awaken students’ curiosity and arouse their love for learning.I want my students to be excited about coming to class and to know that learningeconomics is fun, relevant and enriching. I especially enjoy teaching introductoryclasses where I can share with students the fun of exploring the wonderful world ofeconomic ideas and rediscovering the world around them with an economic lens. Tothis end, I strive to be entertaining, helpful and approachable.

A key ingredient to making learning fun is creating a dynamic learning environmentwhere students are active and engaged. To achieve this atmosphere, there are twostrategies that I employ. First, I make sure to enter and leave the classroom cheerfuland energetic. While it is important to be well-prepared and structured in teaching,it is also equally important to loosen up and have fun with the class. When I relax,I tend to be funnier, more real and spontaneous. Students benefit when they see myhuman side. They become more connected and less intimidated in class. Second, I usea mixed-format approach that blends storytelling, media clips, class experiments, real-world examples, collaboration, and structured active-learning exercises with lectures.

How does a typical day in class look like? To bring a jolt of energy at the start ofclass, I play upbeat music five minutes before the beginning of class. When the musicstops, it means that class is officially starting. Students enjoy hearing stories, so Iusually motivate each lesson by telling a relevant story from current events, podcasts,documentaries and articles. Other times, I use class experiments instead of stories tointroduce concepts. For example, when I introduce the law of demand, I bring a CaffeLatte to class and attempt to sell it by asking the students whether they are willingto pay a dollar for it. Then I increase the price to two dollars, then three, and so on.I make sure to note how many students were willing to buy the latte at each pricepoint to give a solid illustration of how the law of demand works. I then proceedwith the lecture. I design my lectures so that after 20 minutes I shift to anotherteaching mode to break monotony. Sometimes, I conduct live polls where studentscan participate by sending text messages. The anonymity enables them to provideunfiltered and sometimes very funny answers, making classroom learning more fun.

To help students realize that economics is everywhere, I assign fun assignments liketaking “selfies” or pictures that illustrate personal applications of economic principleswe learned in class. I also give them opportunities to play the role of an economist.For example, I design a group project where students collaborate with their groupmates, download real data, create graphs using excel and analyze trends in GDP,inflation and unemployment of different countries. One of the most rewarding daysin class is seeing my students present their work and hearing them explain economicissues.

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I want my students to know that I want them to succeed inside and outsidethe classroom. Hence, I make ways to know where students struggle and exerteffort to help them. Understanding where students get stuck can be tricky but,doing something as simple as tweaking the homework format can often do wonders.Recently, I learned that by breaking down homework questions so that students arerequired to show all the necessary steps in solving a problem allows me to see whatparts of the lessons were not understood. In contrast to simple multiple choicequestions, this format has enabled me to see where people are having difficulties.By giving simple questions involving graphing, I discovered that some students beganthe class without knowing how to graph properly. Most can graph but some getlost in an intermediate step. Moreover, I also discovered the power of incentivesto elicit response and gain access to students’ thought process. After class, I postvarious sample problems on our Facebook page and incentivize students to providedetailed answers. Since students are almost always on Facebook and respond well toincentives, I usually receive a lot of responses. I pay careful attention to how studentsjustify their answer. This gives me a quick gauge of students’ understanding of theprevious lesson. Moreover, I encourage students to come see me during my officehours by providing extra credit for consultation. In these consultations, I learnedmore about the different learning styles of students and where they struggle. Afteridentifying learning gaps, I respond accordingly.

I make sure that communication with my students outside of class is always openand constantly remind them that I can be reached at any time of day. I immediatelyrespond to email, I make myself available for consultation, and (to efficiently andquickly speak to as many students as possible) even go on Facebook live. My opendoor policy enables students to get immediate help and as a result, encourages themto succeed in class.

Finally, I recognize that I still have a lot to learn in teaching. Being willing to takerisks and valuing criticism are two of the greatest contributing factors to my growthas a teacher. These have helped me identify good teaching practices and have helpedme improved on my shortcomings. Earlier in my teaching journey, I received a bluntcomment from a student about the gap between the level of details that I teach onand the degree of difficulty my exams. I took this comment to heart, worked onmodifying the content of my lectures and provided more difficult examples in class.It resulted in a significant improvement in my performance, evident in a positivechange in student rating. More recently, I won the Graduate Teaching Award whichaffirms that with passion, dedication, humility to accept criticisms and hard work,one can continuously improve and excel at teaching.

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2 Teaching Interests

My teaching interests include Macroeconomics and Microeconomics at the principlesand intermediate levels, Labor Economics, Health Economics and ExperimentalEconomics.

3 List of Courses Taught

Course Semester Number of Students

Principles of Macroeconomics

Fall 2013 23Spring 2015 22Fall 2015 139Spring 2016 163Summer 2016 27

Principles of Microeconomics Fall 2016 150

4 Teaching Award

Graduate Teaching Award for undergraduate teaching excellenceDepartment of Economics, Kansas State University, 2016

5 Teaching Assessment and Students Comments

5.1 Teaching Evaluation (TEVAL) Statistics

Weighted Ave. Fall 2013 Spring 2015 Fall 2015 Spring 2016 Summer 2016

Overall effectiveness as a teacher 4.2 3.4 3.7 4.5 4.1 4.3Increased desire to learn about the subject 3.9 3.3 3.5 4.1 3.8 4.4Amount learned in the course 4.1 3.8 4 4.3 4 4.1Made the course goals and objectives clear 4.1 3.6 4.1 4.2 4.1 4.3Well prepared for class 4.4 4.2 4.3 4.5 4.4 4.3Interest in helping students learn 4.4 3.8 4.3 4.5 4.4 4.7Willingness to help outside of class 4.6 4.2 4.3 4.7 4.5 4.8

Number of Students 374 23 22 139 163 27

Notes:1. These were all courses in Principles of Macroeconomics2. All ratings are out of 5 possible points, with 5 being the highest. Some ratings are adjusted forindividual and cohort attributes.3. Average is weighted by class size.4. Complete copies of my TEVALS are attached in the appendix

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5.2 Comments from TEVALs

Summer 2016

• Ms. Namingit has brought much energy and eagerness to teach into the classroom. The effortin supporting students to understand is enormous. She is even willing to work later in theday outside of class and even using Facebook is helpful.

• Overall, this was a great course. Sheryll came prepared to class every day and she was verywilling to help us with anything we were confused on. She definitely went above and beyondin making sure we understood the material. Sheryll is a great teacher and really cares abouther students’ successes. Overall, I enjoyed this course. I learned a lot and I will recommendother students to take the course from Sheryll.

• Always willing to help others and wants to make sure everyone understands. Great at applyinginformation to everyday life. Always enthusiastic about the subject.

Spring 2016

• You’re a great teacher. You are always so happy for every class period and you show howmuch you want us to learn. I can really tell you have our best interests of becoming betterstudents and learning the material well.

• She is awesome! I did not know anything about economics before she has made me love it!She is also very friendly and funny.

• This is a great class! You make econ fun and interesting.

• I love how considerate you are of the students.

• Good teacher. Well explained. Love her lectures

• She is always well prepared and eager to teach the class

• I really enjoyed this class and would take another with her if given the chance. I loved howavailable extra credit was in particular.

• She helped me with personal problems. Allowing me to learn the most I can in specificsituation.

• I like how thoroughly you went over the material in class.

• Sheryll is overall a good instructor. I look forward going to class because I know she will behere to help and always has a great attitude

• One of the more helpful teachers I have had at K-State. Always trying to encourage peopleto come to her office hours if struggling.

• She does a good job of being prompt to reply to emails also.

• I like that the instructor is trying to set us up to succeed. It seems like other professors aretrying to set us up to fail. In this class we have incentives to come and learn.

• Sheryll is a great teacher. I recommend her to all students.

• At first, I did not have any desire to take this course but I knew I had to. When you startedteaching, I instantly know how passionate you are about teaching and I am thankful for that.I wish that you would be more strict on the students that disrespect your time. I don’t knowhow you do it! Hope for best in your future! Thank you for your time!

• She brought me from an F to a B! Great teacher overall!

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• She did a good job getting material to us so we could understand. Class speed was fairly slowthough.

• You seem to really want us to learn and are very interested in helping us do so. I like howeasy you make it to get an A if you put in even minimal effort. I do wish you would let usdrop the final as our lowest test though. It was also very annoying when you decided to takeattendance right at 10:45 because I had a class halfway across campus at 10:55.

• Overall I think you are a great teacher and will definitely recommend you to my friends willingto take this course.

• I think overall she is a very good teacher. The only area of improvement I would say is tonot ramble so much in class. Some of it is helpful rambling, like examples, but other times itis wasteful.

Fall 2015

• One of the best teachers I’ve had at K-State. She make ECON class fun!

• Very good presentation of materials in each class.

• You are very good at what you do! I do hope you continue teaching. You made a subject Iwas not interested in and not excited about very exciting. And I like your jokes!

• Professor Namingit really puts forth a lot of effort to make sure students understand thecourse material.

• I have enjoyed this class and understood more clearly about what is being taught. This is mysecond time taking this class but I feel she has done a much better job in helping studentsunderstand the material.

• The class is a retake for me and the difference in my learning has increased a ton with her asmy professor. She is very clear in explaining subject material and helping outside of class.

• The course is very good and so is the teacher. The only negative thing I have to say is it goesa little slow.

• We move fairly quickly in this class which makes it hard to keep up sometimes

• Ms Namingit was willing to take time out of class and other than office hours to help everyone.Wanted students to do well.

Spring 2015

• I really liked Ms. Namingit. She truly cares about the students in her class and you cansee that she is eager to learn and teach. I thought she was a very good instructor and eventhough, I don’t really care to have another economics class, I would love to have her instructagain.

• Good, enthusiastic teacher who cares about the subject matter and is passionate abouther field and helping others learn. She is very approachable, nice and funny. The classis interesting but sometimes hard to follow because there is much information. Sometimeslessons are unclear because she goes fast and occasionally has monotone. Lesson plan shouldfollow more closely to handouts for organizational purposes and to make it easier to followalong.

• Lectures are so slow and boring yet when we get homework, it is extremely hard because shedidn’t teach it well enough. I have a good grade in this class but it is so frustrating. Thequizzes are the hardest part because they are in class at the end of time over material webarely learned.

• I feel as though the instructor would make a great teacher with more experience. As of rightnow, the overall effectiveness of the instructor wasn’t the highest (lots of potential though –more examples on how economic

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5.3 Sample Unsolicited Feedback

The following shows one of the random emails I got from grateful students.

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6 Teaching Method

As mentioned in my teaching philosophy, I use a mixed-format approach that blends storytelling,media clips, experiments, real-world examples, polling and structured active-learning exercises withlectures. The goal is to make students engaged by maintaining a dynamic classroom experience.

Please see below some examples of how I have used these various teaching methods in class.

6.1 Storytelling

Since students enjoy hearing stories, I tell stories in class to introduce, motivate or give cultural andhistorical context to the subject matter. Telling stories if possible is sometimes better than givinglessons in purely information-based form. Students are more likely to be more engaged when theyhear a narrative about events and are more likely to remember details.

I myself learn about economic concepts by listening to stories and I want to share this experience aswell to my students. One of my favorite source is NPR’s Planet Money. For example, the episodeson the following:

• The Great Inflationhttp://www.npr.org/sections/money/2015/11/20/456855788/episode-664-the-great-inflation

• A Locked Door, A Secret Meeting and the Birth of the Fed - http://www.npr.org/sections/money/2015/11/11/455675540/

• How To Make 3 Trillion Dollars Disappear- http://www.npr.org/sections/money/2015/10/23/451228005/episode-659-how-to-make-3-trillion-disappear

are great narratives that explain and stimulate thinking on inflation, the Federal Reserve andmonetary policy. I pay attention to how NPR fascinatingly tells these stories and try to applythe same story telling principles in class.

To fill my story bank, I regularly and leisurely listen, watch or read other relevant podcasts,documentaries and articles.

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http://www.npr.org/sections/money/2015/11/20/456855788/episode-664-the-great-inflation

http://www.npr.org/sections/money/2015/11/11/455675540/

http://www.npr.org/sections/money/2015/11/11/455675540/

http://www.npr.org/sections/money/2015/10/23/451228005/episode-659-how-to-make-3-trillion-disappear

http://www.npr.org/sections/money/2015/10/23/451228005/episode-659-how-to-make-3-trillion-disappear

6.2 Showing Media Clips

I borrow a lot of clips from the Economics of the Office and the teaching manual of Mateer andCoppock. The clips I show in class comes from movie/TV clips as well as speeches from famouspeople.

6.3 Conducting Class Experiments

Class experiments are students’ favorite. Whenever possible, I use experiments to create memorablelearning experiences.

When I did example 1 below, it came to my knowledge that students posted videos of the classactivity in KState Snapchat with the caption ”Push-ups and Economics?”. This means thatstudents were talking about the experience and were likely to remember the lessons illustratedby the experiment.

The following two examples were borrowed from the teaching manual of Coppock and Mateer (2014).

Example 1: To illustrate the PPF

To illustrate the PPF and the principles of efficiency, economic growth and opportunity cost, I calltwo student volunteers (student volunteer A and B) who can do push-ups and text in class. Then Itell the class to assume that these two people only have 15 seconds each to produce push-ups and/ortexts.

To draw PPF, I ask these two students to do push-ups for the whole 15 seconds. Then I ask themto text within 15 seconds as many “I love ECON” to a classmate who can then count the numberof texts. Using the numbers of push-up and text produced, we graph the respective PPF of studentvolunteer A and student volunteer B. Given the PPFs, I tell them to calculate the slope and theopportunity cost of each volunteer.

In addition, I changed the time resource from 15 seconds to 30 seconds and see what is the totalnumbers of text (push-ups) produced if all of 30 seconds are allocated to the production of text(push-up). This gives an illustration of how increasing resources shifts the PPF.

Example 2: Illustrating the principle that trade creates value

In this experiment, I call about 10 students volunteers to the front and to stand in a line at the frontof the class. I randomly assign each of the students a present (e.g. candy, pen, apple). I then askeach student to rate his or her gift from zero (not preferable) to 10 (excellent). We add up Add upthe total rating of all the gifts (out of 100). Then I tell the class, ”What if we allow the students totrade, what will happen to the total value rating?” I then give 30 seconds to trade with one another.To do so, they must find a student willing to trade voluntarily. After the trades have occurred, I askthe students again to call out the names of their items and their ratings of the items. Then we addup the ratings and compare the ratings before and after trade. Total ratings after trade increasesignificantly and I am able to show that trade creates value to society.

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Facebook Example 1.

6.4 Using Social Media

Students spend a lot of their time in the internet and in social media. I take advantage of this byusing social media to reinforce learning. As seen in the following image: I use facebook to post moreexamples that students can think about and answer while they are on their phone. As mentionedin my teaching philosophy, I used the answers to understand students’ thought process and identifylearning gaps.

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Facebook Example 2

I also use Facebook to encourage students to come up with their own examples.

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Facebook Example 2

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6.5 Polling the Class

The following are examples of the class polls I do in class especially to make students participatemore.1

Example 1. Before I introduce the principle that nothing is really free because life is full of tradeoffs,I ask the class if they agree with the saying that ”The Best things in life are free”. Then I poll themto tell me about these things. Here is an example of their answers:

Example 2. To stimulate thinking on the unintended consequences of price floor, I survey the classregarding their opinion on increasing the minimum wage.

1I advise students to be appropriate in their answers but some students still do. However, ignoringsuch comments usually work.

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STANDARD DEVIATION

RELATIVE TO KSU CLASSES RATED BY 10 OR MORE STUDENTS: H=UPPER 10%; HM=NEXT 20%; M=MIDDLE 40%; LM=NEXT 20%; L=LOWEST 10%

ADJUSTED FOR STUDENT CHARACTERISTICS & CLASS SIZE: SEE TEVAL GUIDE

Responses from 24 of the 27 enrolled (89%) Offered: In Class

Overall EffectivenessNumber Responding [VL=1, VH=5] Statistics

VL L M H VH OMIT SD1 AVG

Obtained Responses1. Overall effectiveness as a teacher 0 1 3 11 9 0 0.8 4.211. Increased desire to learn about the subject 0 1 4 11 7 1 0.8 4.014. Amount learned in the course 0 2 4 12 6 0 0.9 3.9

Statistics Comparative Status2

Raw Adjusted3 Raw Adjusted3

Averages and Comparative Status1. Overall effectiveness as a teacher 4.2 4.3 M HM11. Increased desire to learn about the subject 4.0 4.4 M HM14. Amount learned in the course 3.9 4.1 M M

Ratings of Student Attributes and Instructional StylesNumber Responding [VL=1, VH=5] Statistics


Relevant Student Attributes12. Interest in the course before enrolling 2 3 10 7 2 0 1.0 3.213. Effort to learn in the course 0 2 2 13 7 0 0.8 4.0

Instructional StylesA. Establishing a Learning Climate

2. Made the course goals and objectives clear 1 1 2 6 14 0 1.1 4.33. Well prepared for class 0 0 4 8 12 0 0.7 4.35. Interest in helping students learn 0 0 1 6 17 0 0.6 4.710. Willingness to help outside of class 0 0 1 4 19 0 0.5 4.8

B. Facilitating Student Learning4. Explained the subject clearly 1 1 2 11 9 0 1.0 4.16. Stimulated thinking about the subject 0 1 2 9 12 0 0.8 4.37. Made helpful comments on student work 0 2 2 9 11 0 0.9 4.28. Grading procedures fair and equitable 0 1 2 9 12 0 0.8 4.39. Realized when students did not understand 0 2 4 9 9 0 0.9 4.0

Instructor's Description of ClassA. Type of classB. Class sizeC. Physical facilitiesD. Previously taught this course?E. Approach significantly different this term?F. Description of teaching load?G. Attitude toward teaching this courseH. Control of course decisionsI. Differences in student preparationJ. Student enthusiasmK. Student effort to learnL. Additional comments?

Teval Report: Student Ratings of Instruction

Teaching and Learning Center | Kansas State University

Faculty Member: Namingit, Sheryll Course #: ECON 110

Hr./Days: 910 MTWUF College: Arts & Sciences Term: Summer 2016

page 1 of 1

7 Appendix A: Raw Copies of TEVAL Summaries

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STANDARD DEVIATION









Averages and Comparative Status1. Overall effectiveness as a teacher 3.8 4.1 M M11. Increased desire to learn about the subject 3.2 3.8 LM M14. Amount learned in the course 3.6 4.0 LM M







Instructor's Description of ClassA. Type of class LectureB. Class size Too largeC. Physical facilities Less than adequateD. Previously taught this course? 2-3E. Approach significantly different this term? YesF. Description of teaching load? AverageG. Attitude toward teaching this course I was really enthusiasticH. Control of course decisions Yes- I was responsible for all decisionsI. Differences in student preparation A minor problemJ. Student enthusiasm Moderate; neither high nor lowK. Student effort to learn Variable; sometimes high, sometimes lowL. Additional comments? No additional comments




Hr./Days: 930 TU College: Arts & Sciences Term: Spring 2016

page 1 of 1

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STANDARD DEVIATION









Averages and Comparative Status1. Overall effectiveness as a teacher 4.1 4.5 M HM11. Increased desire to learn about the subject 3.5 4.1 M HM14. Amount learned in the course 3.9 4.3 M HM







Instructor's Description of ClassA. Type of class LectureB. Class size About rightC. Physical facilities Exceptionally goodD. Previously taught this course? 2-3E. Approach significantly different this term? YesF. Description of teaching load? AverageG. Attitude toward teaching this course I was really enthusiasticH. Control of course decisions Yes- I was responsible for all decisionsI. Differences in student preparation A minor problemJ. Student enthusiasm HighK. Student effort to learn SatisfactoryL. Additional comments?




Hr./Days: 1130 TU College: Arts & Sciences Term: Fall 2015

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STANDARD DEVIATION









Averages and Comparative Status1. Overall effectiveness as a teacher 3.6 3.7 LM LM11. Increased desire to learn about the subject 3.3 3.5 LM M14. Amount learned in the course 3.7 4.0 M M







Instructor's Description of ClassA. Type of classB. Class sizeC. Physical facilitiesD. Previously taught this course?E. Approach significantly different this term?F. Description of teaching load?G. Attitude toward teaching this courseH. Control of course decisionsI. Differences in student preparationJ. Student enthusiasmK. Student effort to learnL. Additional comments?




Hr./Days: 930 MWF College: Arts & Sciences Term: Spring 2015

page 1 of 1

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STANDARD DEVIATION









Averages and Comparative Status1. Overall effectiveness as a teacher 3.3 3.4 LM LM11. Increased desire to learn about the subject 3.0 3.3 LM LM14. Amount learned in the course 3.5 3.8 LM M







Instructor's Description of ClassA. Type of class Lecture,SeminarB. Class size About rightC. Physical facilities Less than adequateD. Previously taught this course? NoneE. Approach significantly different this term?F. Description of teaching load? AverageG. Attitude toward teaching this course I wanted toH. Control of course decisions Yes- I was responsible for all decisionsI. Differences in student preparation A minor problemJ. Student enthusiasm Mixed; both high and lowK. Student effort to learn Variable; sometimes high, sometimes lowL. Additional comments? Comments written on the FIF




Hr./Days: 1230 MWF College: Arts & Sciences Term: Fall 2013

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PRINCIPLES OF

THE EASIEST WAY TO GET

AN A IS TO EARN A LOT OF

POINTS FROM TESTS.

There will be 3 exams— 2

midterms and a final exam.

You can earn a maximum of

500 points in each of the

midterm exams and 625

points for the final exam. The

final exam is CUMULATIVE .

Please note of the schedule

of the following:

Midterm Exam 1: June 24

Midterm Exam 2: July 14

Final Exam: July 29

Tips on how to do well in the

exams? The usual never over-

rated tips: 1. Study. 2. Prac-

tice using old homework as-

signments, class exercises,

practice exams and book

exercises. 3. Have a study

group.

And then, there is the usual,

HOMEWORK. Seven (7) home-

work sets will be assigned

throughout the semester.

Each homework is worth 50

points. Please check the

course site for the due dates

and the assignment details.

Make sure you finish your

home work before the dead-

line just in case you have an

emergency situation to attend

to. There will be no late sub-

missions as well as make-up

for missed homework for

whatever reason. To compen-

sate for any valid reason, your

two lowest homework scores

will be dropped.

Group Work Everyone is ex-

pected to work together on

group works and a group re-

port at the end of the semes-

ter. 15% of your grade will

come from your score on

group works and on your re-

port.

Participation Students are

encouraged to participate in

class discussions, experi-

ments and simulations de-

signed to enhance your intui-

tion for economic problems.

4% of your final grade will be

based on your overall class

participation

Bonus points. I will give oppor-

tunities to gain bonus points

in class.

Consult me. If you have ques-

tions on our lessons, let me

know as early as possible. Do

not allow yourself to be left

behind. You can email me or

see me. See information on

office hour on the left side of

this page. Email me if you

cannot make it during office

hours.

Keep up with the readings.

This is an important supple-

ment to learning well in class.

So you want to get an A?

Section A. . MWTUF 9:10 -10: 10am. Summer 2016

Textbook:

Principles of Macroeconomics

(Seventh Edition) by G. Mankiw

K-State Canvas: ECON 110 A

GRADING SCALE

A 90% to 100%

B 80% to 89%

C 70% to 79%

D 55% to 69%

F Below 55%

MACROECONOMICS

N E E D H E L P ?

Tutorials are available at the

Economics Dept.

Tuesday's: 5:30-7:00pm

Wednesday's 7:00-8:30pm

Where: Waters 231

http://www.k-state.edu/

aac/tutoring/

this for more information

on tutorial services on

campus.

Has disabilities and need spe-

cial accommodations?

Contact me or Student

Access Center.

accesscenter@k-

state.edu

Instructor: Sheryll Namingit

Email: [email protected]

Tel. No: 785-532-4585

Office: Waters 302-C

Office Hours: 10:30 - 11:30 AM

Monday and

Wednesday

GRADING POLICY:

Midterm 1 500

Midterm 2 500

Final Exam 625

Group Work 375

7 Homework

Assignments

(drop the 2 lowest)

400

Participation 100

TOTAL 2500

Join our group’s

page in facebook:

Econ 110 Section A

Sample Syllabus

8 Appendix B: Course Materials and Sample

Work

8.1 Sample Syllabus

21

Page 2

SEQUENCE & READING LIST**

ceived unauthorized aid on this

academic work." A grade of

XF can result from a breach of

academic honesty. The F indi-

cates failure in the course; the

X indicates the reason is an

Honor Pledge violation.

Campus Safety: Kansas State

University is committed to

providing a safe teaching and

learning environment for stu-

dent and faculty members. In

order to enhance your safety in

the unlikely case of a campus

emergency make sure that you

know where and how to quick-

ly exit your classroom and how

to follow any emergency direc-

tives. To view additional cam-

pus emergency information go

to the University’s main page,

www.k-state.edu and click on

Emergency Information button.

Classroom Conduct: All stu-

dent activities in the Universi-

ty, including this course, are

governed by the Student Judi-

cial Conduct Code as outlined

in the Student Governing Asso-

ciation By Laws, Article V,

Section 3, number 2. Students

who engage in behavior that

disrupts the learning environ-

ment may be asked to leave the

class.

Academic Honesty:

Kansas State Univer-

sity has an Honor

System based on

personal integrity,

which is presumed to

be sufficient assurance that, in aca-

demic matters, one's work is per-

formed honestly and without unau-

thorized assistance. Undergraduate

and graduate students, by registra-

tion, acknowledge the jurisdiction

of the Honor System. The policies

and procedures of the Honor Sys-

tem apply to all full and part-time

students enrolled in undergraduate

and graduate courses on-campus,

off-campus, and via distance learn-

ing. The honor system website can

be reached via the following URL:

www.k-state.edu/honor. A compo-

nent vital to the Honor System is

the inclusion of the Honor Pledge

which applies to all assignments,

examinations, or other course work

undertaken by students. The Honor

Pledge is implied, whether or not it

is stated: "On my honor, as a stu-

dent, I have neither given nor re-

The purpose of studying

economics is not to acquire

a set of ready-made answers

to economic questions, but

to learn how to avoid being

deceived by economists.

- Edwin Arlington

Robinson

Principles of Macroeconomics/Namingit

**subject to change

TOPICS READINGS

Introduction

Principles of Macroeconomics Chapter 1

Thinking like an Economist Chapter 2

Supply and Demand Chapters 4,5,6

Markets and Welfare Chapters 7-9

Measuring a Nation’s Income Chapter 10

Measuring the Cost of Living Chapter 11

Production and Growth Chapter 12

Saving, Investment and the Financial System Chapter 13

Wages and Unemployment Chapter 15

The Monetary System Chapter 16

Money, Growth and Inflation Chapter 17

Aggregate Demand and Aggregate Supply Chapter 20

The Influence of Monetary and Fiscal Policy on Aggre-gate Demand

Chapter 21

Lecture Notes:

I will upload handouts in

class. There are blank parts in

the lecture notes. You will fill

in the blanks as well as get

solutions to the examples

from coming to class.

My suggestions in taking

notes are:

1. Print the handouts out

before coming to class.

You can print multiple

slides in a page to save

money.

2. Printing is expensive so

one alternative is to use

your tablet. Download

any note-taking app that

allows you to write on a

PDF as well as to draw

graphs. One app that I

recommend is the app

"Notability". One of its

best features is it ena-

bles you to draw graphs.

We will be drawing a lot

of graphs in these

Continuation of Syllabus...

22

Sample Homework

NAME: _______________________________________________

Homework 4 (80 points)

Please print this. Place your answers in the blank provided. If no blank is provided, place your solution/answer in the

empty space below the question.

Deadline: Friday, July 8, in class. No late submission of homework.

1. Use the following table to answer the questions that follow.

a. Why would a government impose a price floor in the market for corn?

b. Draw the supply and demand schedules for corn in a single graph. Carefully label the x-axis

and the y-axis.

8.2 Sample Homework

23

Sample Homework

c. The equilibrium price is ________________________ and the equilibrium quantity is

______________________.

d. If the price floor for corn is set at $5.00, there will be an initial _____________ (surplus,

shortage of _____________ corn. After the market adjusts, the final market outcome will be

____________ (the same initial shortage, the same initial surplus, market equilibrium). The

price floor is _____________ (binding, not binding).

e. If the price floor for corn is set at $2.50, there will be an initial _____________ (surplus,

shortage of _____________ corn. After the market adjusts, the final market outcome will be

____________ (the same initial shortage, the same initial surplus, market equilibrium). The

price floor is _____________ (binding, not binding).

f. What will be the amount of government expenditure required if a price floor for corn is set at

$4.50 and the government agrees to purchase the amount of disequilibrium? Note government

expenditure = unit price x quantity bought. Show your solution.

g. In the market for CORN, the suppliers are the _________________(firms, consumers) and

the buyers are the _________________________ (firms, consumers). In the market for

LABOR, the suppliers are the _________________(firms, consumers) and the buyers are the

_________________________ (firms, consumers).

h. Aside from market disequilibrium, what are possible unintended consequences of a binding

price floor in the market of corn? Identify at least 2. In order to answer this, you may want to

refer to see ideas from the thought experiment we had in class in the market of milk.

Continuation of Sample Homework

24

Sample Homework

2. Use the following graph to answer the questions that follow.

D

S

$7.25

2.75 7.25 in thousands

$2.75

1 2 3 4 5 6 7 8 9 10 workers

1

2

3

4

5

6

7

8

9

10wage

a. After the market adjusts, the market outcome if there is a minimum wage of $2.75 is

____________________ (a surplus, a shortage, the equilibrium).

b. In this market, a minimum wage of $7.25 is ______________________ (binding/not binding).

c. Suppose the market for labor is initially in equilibrium. The government, however, concludes that the

wage is too low and imposes a minimum wage of $7.25.

Number of people employed in equilibrium=___________________

Number of people employed at $7.25 =________________________

How many people will lose their jobs after the minimum wage is imposed? _____________

d. In this market, the number of people unemployed at a minimum wage of $7.25 is

______________________.

Continuation of Sample Homework

25

Sample Exam

Kansas State University Department of Economics

Summer 2016

EC0N 110 Section A - Exam 1 June 28, 2016

This exam includes two parts: Multiple Choice (350 points) and Problem Solving (150 points)

You will have 60 minutes to complete this exam.

For the multiple choice, place all of your answers in the scantron. Use pencil.

For the problem solving, place your answer in the space provided on the questionnaire. In some

cases, you will need to fill in the blank.

Use your best handwriting.

You are allowed to use your calculator, but cellphones are not allowed.

Good Luck!

LAST NAME: _______________________________________

FIRST NAME: ______________________________________

Student, please do not write anything on this box.

Multiple Choice (350 points): _____________________

Problem solving (150 points): _____________________

TOTAL GRADE (out of 500 points): _________________

8.3 Sample Examination

26

Sample Exam

Part I. Multiple Choice (350 points, 10 points each)

Identify the choice that best completes the statement or answers the question.

____ 1. Economics is the study of:

a. how to make money.

b. how to allocate scarce resources to satisfy unlimited wants and needs.

c. capitalism.

d. how to make workers more productive and firms more profitable.

e. markets.

____ 2. Macroeconomics is the study of:

a. the economic motives of voters and elected officials.

b. individual decision-making units such as households and businesses.

c. how government purchases affect specific markets.

d. the operation of the economy as a whole.

e. the interaction between the government and businesses.

____ 3. The opportunity cost of working rather than going to school is:

a. the cost of food and housing.

b. the cost of clothing and transportation.

c. zero because the person is earning an income by working.

d. the higher wages that come with additional education.

e. the annual wages earned by working.

____ 4. The scientific method and the tools of economics are useful in examining:

a. only how individuals make decisions.

b. only how business firms make decisions.

c. only how government policies affect macroeconomic outcomes.

d. only the trade-offs evident in production possibilities frontier (PPF).

e. anything; economists will use their tools to study anything in the world around them.

____ 5. When a country has a comparative advantage in producing a certain good,

a. the country should import that good.

b. the country should produce just enough of that good for its own consumption.

c. the country’s opportunity cost of that good is high relative to other countries’ opportunity

costs of that same good.

d. the country should specialize in that good

____ 6. The most obvious benefit of specialization and trade is that they allow us to

a. work more hours per week than we otherwise would be able to work.

b. consume more goods than we otherwise would be able to consume.

c. spend more money on goods that are beneficial to society, and less money on goods that

are harmful to society

d. consume more goods by forcing people in other countries to consume fewer goods.

____ 7. For a market for a good or service to exist, there must be a

a. group of buyers and sellers.

b. specific time and place at which the good or service is traded.

c. high degree of organization present.

d. All of the above are correct.

Continuation of Sample Examination

27

Sample Exam

____ 8. The term price takers refers to buyers and sellers in

a. perfectly competitive markets.

b. monopolistic markets.

c. markets that are regulated by the government.

d. markets in which buyers cannot buy all they want and/or sellers cannot sell all they want.

____ 9. The line that relates the price of a good and the quantity supplied of that good is called the supply

a. schedule, and it usually slopes upward.

b. schedule, and it usually slopes downward.

c. curve, and it usually slopes upward.

d. curve, and it usually slopes downward.

____ 10. Which of the following is an example of a market?

a. a gas station

b. a garage sale

c. a barber shop

d. All of the above are examples of markets.

____ 11. A movement along the demand curve might be caused by a change in

a. income.

b. the prices of substitutes or complements.

c. expectations about future prices.

d. the price of the good or service that is being demanded.

____ 12. In a free market, what adjust to bring the market to equilibrium?

a. the government

b. lawyers

c. lotteries

d. prices

____ 13. The term ________ means “additional.”

a. “marginal”

b. “comparative”

c. “incentive”

d. “opportunity cost”

e. “trade-off”

____ 14. What is the opportunity cost of taking this exam?

a. all of the things that you could have done by not studying

b. each of the questions that you miss on the exam

c. the highest valued alternative that you gave up to prepare for and attend the exam

d. the money you spent purchasing the textbook and the other materials you study with

e. the money you spent on tuition

____ 15. Mrs. Abel has a absolute advantage in producing cabbage if, in comparison to Mrs. Bee, Mrs. Abel can grow

cabbage:

a. with equal amount of inputs.

b. with fewer inputs.

c. at a lower equilibrium.

d. at a lower opportunity cost.

e. at a higher opportunity cost


28

Sample Exam

____ 16. The production possibilities frontier (PPF) shows:

a. the trade-off between the efficient production of two different goods.

b. the difference between micro analysis and macro analysis.

c. the difference between normative and positive analysis.

d. how a firm should price a new product.

e. how price and quantity are related for a single good.

____ 17. Unemployment would cause an economy to

a. produce inside its production possibilities frontier.

b. produce on its production possibilities frontier.

c. produce outside its production possibilities frontier.

d. experience an inward shift of its production possibilities frontier.

____ 18. Economists speaking like policy advisers make

a. positive statements.

b. descriptive statements.

c. claims about how the world is.

d. normative statements

____ 19. While pollution regulations yield the benefit of a cleaner environment and the improved health that comes

with it, the regulations come at the cost of reducing the incomes of the regulated firms’ owners, workers, and

customers. This statement illustrates the principle that

a. trade can make everyone better off.

b. rational people think at the margin.

c. people face tradeoffs.

d. people respond to incentives.

____ 20. What you give up to obtain an item is called your

a. opportunity cost.

b. explicit cost.

c. monetary cost.

d. direct cost.

____ 21. You are considering staying in college another semester so that you can complete a major in economics. In

deciding whether or not to stay you should

a. compare the total cost of your education to the total benefits of your education.

b. compare the total cost of your education to the benefits of staying one more semester.

c. compare the cost of staying one more semester to the benefits of staying one more

semester.

d. compare the total benefits of your education to the cost of staying one more semester.

____ 22. The following table contains a demand schedule for a good.

Price Quantity Demanded

$10 100

$20 Q1

If the law of demand applies to this good, then Q1 could be

a. 50.

b. 100.

c. 200.

d. 400.


29

Sample Exam

____ 23. At the equilibrium price, the quantity of the good that buyers are willing and able to buy

a. is greater than the quantity that sellers are willing and able to sell.

b. exactly equals the quantity that sellers are willing and able to sell.

c. is less than the quantity that sellers are willing and able to sell.

d. Either a) or c) could be correct.

____ 24. A university's football stadium is never more than half-full during football games. This indicates

a. a surplus and the ticket price is above the equilibrium price.

b. a shortage and the ticket price is below the equilibrium price.

c. the ticket price is at the equilibrium price.

d. nothing about the equilibrium price.

____ 25. Which of the following is not an example of a group responding to an incentive?

a. Students attend class because of an attendance policy that reduces their grade for absences.

b. Consumers buy more of a product when it is on sale at a reduced price.

c. Universities offer fewer online classes when they generate more revenue than traditional

classes.

d. Employees work harder to earn higher commissions.

____ 26. A competitive market is one in which there

a. is only one seller, but there are many buyers.

b. are many sellers, and each seller has the ability to set the price of his product.

c. are many sellers, and they compete with one another in such a way that some sellers are

always being forced out of the market.

d. are so many buyers and so many sellers that each has a negligible impact on the price of

the product.

____ 27. When the price of a good is higher than the equilibrium price,

a. a shortage will exist.

b. buyers desire to purchase more than is produced.

c. sellers desire to produce and sell more than buyers wish to purchase.

d. quantity demanded exceeds quantity supplied.

____ 28. When economists make positive statements, they are

a. speaking as scientists.

b. speaking as policy advisers.

c. making claims about how the world should be.

d. revealing that they are very conservative in their views of how the world works.

Table 4-3

Price Bert’s

Quantity

Demanded

Ernie’s

Quantity

Demanded

Grover’s

Quantity

Demanded

Oscar’s

Quantity

Demanded

$0.00 20 16 4 8

$0.50 18 12 6 6

$1.00 14 10 2 5

$1.50 12 8 0 4

$2.00 6 6 0 2

$2.50 0 4 0 0


30

Sample Exam

____ 29. Refer to Table 4-3. If these are the only four buyers in the market, then when the price increases from $1.00

to $1.50, the market quantity demanded

a. decreases by 1.75 units.

b. increases by 2 units.

c. decreases by 7 units.

d. decreases by 24 units.

Table 4-7

Price Quantity

Demanded

Quantity

Supplied

$10 10 60

$8 20 45

$6 30 30

$4 40 15

$2 50 0

____ 30. Refer to Table 4-7. If the price were $4, a

a. shortage of 5 units would exist, and price would tend to rise.

b. surplus of 25 units would exist, and price would tend to fall.

c. shortage of 25 units would exist, and price would tend to rise.

d. surplus of 45 units would exist, and price would tend to fall.

Figure 4-4

____ 31. Refer to Figure 4-4. Which of the following would cause the demand curve to shift from Demand C to

Demand A in the market for DVDs?

a. an increase in the price of DVDs

b. a decrease in the price of DVD players

c. a change in consumer preferences toward watching movies in movie theaters rather than at

home

d. an expectation by buyers that their incomes will increase in the very near future

Demand CDemand BDemand A

Quantity

Price


31

Sample Exam

Figure 4-6

____ 32. Refer to Figure 4-6. The movement from D’ to D could be caused by

a. a decrease in price.

b. a decrease in income, assuming the good is inferior.

c. buyers expecting the price of the good to fall in the near future.

d. an increase in the price of a complement.

Figure 4-14

____ 33. Refer to Figure 4-14. At a price of

a. $2, there is a shortage of 6 units.

b. $5, there is a surplus of 25 units.

c. $5, there is a shortage of $25.

d. $7, there is a shortage of 4 units.

D' D

quantity

price

D

S

1 2 3 4 5 6 7 8 9 10 Quantity

1

2

3

4

5

6

7

8

9

10

Price


32

Sample Exam

Refer to the following figure to answer the questions that follow.

____ 34. Which of the following represents an inefficient point?

a. point A

b. point B

c. point C

d. point D

e. point E

____ 35. Which of the following represents a point that is unattainable with current resources and technology?

a. point A

b. point B

c. point C

d. point D

e. point E


33

Sample Exam

Part II. Problem Solving/Illustrate Your Answers

1. What would happen to the equilibrium price and equilibrium quantity of lattés if consumers’ incomes decline and

lattés are a normal good? Illustrate your answers using the 3 steps we did in class. (30 points)

Step 1:

Step 2:

Step 3:

Correctly label the x-axis

and the y-axis.

Identify the old and new

equilibrium, equilibrium

price, equilibrium

quantity

Final answer The will be a/an _____________ (increase, decrease, ambiguous effect) in

equilibrium price.

The will be a/an _____________ (increase, decrease, ambiguous effect) in

equilibrium quantity.

2.What would happen to the equilibrium price and quantity of lattés if the following events happen: a) Coffee shops

began using a machine that reduced the cost of production, and b) Scientists discovered that lattés cause

anxiety attacks? (40 points)

Step 1:

Step 2:

Step 3:

Correctly label the x-axis

and the y-axis.

Identify the old and new

equilibrium, equilibrium

price, equilibrium

quantity

Use two graphs to

illustrate any ambiguous

effect.

Final answer The will be a/an _____________ (increase, decrease, ambiguous effect) in

equilibrium price.


34

Sample Exam

The will be a/an _____________ (increase, decrease, ambiguous effect) in

equilibrium quantity.

3. The figures below depict the production possibilities frontiers (PPFs) for two people who can allocate the

same amount of time between making pizzas and making stromboli. (30 points)

a. Calculate the opportunity costs using the empty space below and fill the following table.

b. __________ (Jim/Pam) has the comparative advantage in producing pizza.

c. __________ (Jim/Pam) has the comparative advantage in producing stromboli.

Opportunity Cost of Producing:

Stromboli Pizza

Jim ______________ pizza ____________ stromboli

Pam ______________ pizza ____________ stromboli


35

Sample Exam

4. Assume that England and Spain can switch between producing cheese and producing bread at a constant

rate. Each country has 40 labor hours. (50 points)

Labor Hours Needed

to Make 1 Unit of

Number of Units

Produced in 40 Hours

Cheese Bread Cheese Bread

England 5 4 8 10

Spain 2 8 20 5

a. Draw the PPF of Spain and the PPF of England. Use cheese as the good in the x-axis and bread in the

y-axis.

PPF of England PPF of Spain

b. Calculate the opportunity costs using the empty space below and fill the following table.

Opportunity Cost of Producing:

Cheese Bread

England ______________ bread ____________ cheese

Spain ______________ bread ____________ cheese

c. __________ (England/Spain) has the comparative advantage in producing cheese.

d. __________ (England/Spain) has the comparative advantage in producing bread.

e. __________ (England/Spain) has the absolute advantage in producing cheese.

f. __________ (England/Spain) has the absolute advantage in producing bread.


36

Sample Exam

g. Without trade, England produced and consumed 4 units of cheese and 5 units of bread and Spain

produced and consumed 10 units of cheese and 2.5 units of bread. Then, each country agreed to

specialize in the production of the good in which it has a comparative advantage and trade 6 units of

cheese for 4 units of bread. Fill in the following table and calculate the gains from trade.

ENGLAND

Without Trade With Trade Gains From Trade Production Consumption Production Export Import Consumption

Cheese

Bread

SPAIN

Without Trade With Trade Gains From Trade Production Consumption Production Export Import Consumption

Cheese

Bread


37

ECON SELFIES GROUP ACTIVITY

This is one of the group assignments that your group is going to do.

A self‐portrait is one of the simplest forms of self‐expression and this allows you to

express your feelings or ideas. We will use this to show that Economics is everywhere

and is “super” relevant to our lives. Hence for this project, you are going to take

selfies that contains some type of economic content and is relevant to the lessons

that we (will) talk about in class. You will need to briefly explain what it is you are

trying to illustrate (maximum of five sentences). For example, in chapter one, we

discussed about opportunity cost. One student took this picture to illustrate such

concept:

Source: http://econimages.tumblr.com/post/129936387869/grace-riley-micro-01-

september-20th-jyc

8.4 Econ Selfie Project and Sample “Selfie” Submission

In this section, I attached the description of the “Selfie Project”and a sample of students’ submissionon how students used this assignment to relate the economic concepts we learned in class to theirpersonal life.

38

Sample Selfies Submitted by Students

I’ve decided to use the concept of trade-off, meaning I could spend a little more money a month on bills and live more comfortably, or turn everything off and save some money but not live comfortably

My selfie utilizes the concept of negative consequences. Me getting a fine/ticket for not “fully” stopping at a stop sign is a negative incentive for me not to do it again. The ticket is a negative consequence which discourages me from doing this sort of action ever again

Paying the doctor for the service to remove my wisdom teeth is considered a consumption © and has a positive impact on the GDP. Y=C+I+G+NX

Today was pay day. After receiving my check I decided to compare it to the GDP per capita of the United States. Sadly, it is much lower.

Sample Selfie Submission

39

Group Work

This is compose of two parts:

1. Data analysis. This is worth 100 points.

2. Class report (10 minutes). This is worth 125 points.

The previous group work has been very easy but this work needs more work. Grading will be

stricter on this project.

The objectives of this class assignment are:

1. To substantiate our knowledge on macroeconomic measures on income, prices and

unemployment

2. To virtually “travel” the world and know more about different countries.

3. To learn/apply how to use excel to calculate, graph and analyze data. This is a skill that will

be very helpful after college (in the workplace).

4. To be able to hone your “working-with-other-people” skill. This skill is very important to

have especially in the real world.

Timeline:

1. Start collecting data on GDP on July 14, Thursday. Submit preliminary analysis on July 15:

hard copy in class and excel file through email. I will give preliminary comment to help

you be on the right track.

2. Continue collecting data on CPI and unemployment. Submit additional analysis on July

22: hard copy in class and excel file through email. I will give additional comment.

3. Final output will be submitted on July 27. You are expected to submit the final hard copy

containing your analysis (in class) and email the excel file containing your data.

4. Report will be on July 25-26.

8.5 Instruction on How to Conduct Macroeconomic Analy-sis, Sample Feedback to Students and Sample StudentWork

I attach how I instructed and gave feedback to students to help them conduct macroeconomicanalysis. Attached also is a sample of students work on analyzing the economy of Greece.

40

Part I. Data Analysis

You will randomly choose your country of assignment from a list of countries. You will choose in

class. In this exercise, you will act as an economist and you will collect real data on your country’s

GDP, CPI and unemployment. Compile all your data in one excel sheet. Then you will analyze the

state of the country’s macroeconomy, produce original graphs and explain notable points (peaks

and lows) in the graphs by answering the guide questions below.

1. Give a brief description of the country: location, language, population, type of government,

brief history etc.

2. Download the real GDP of country of assignment from 1970-2015 or earliest available

after 1970.

a. Calculate the real GDP growth rate. Graph the real GDP growth rate with year on

the x-axis and real GDP growth rate on the y-axis.

i. At what year do you see the lowest GDP growth rate? Research and explain

what happened to the country during that year.

ii. At what year do you see the highest GDP growth rate? Research and explain

what happened to the country during that year.

iii. What is the average real GDP growth rate during the period?

3. Download the real GDP per capita through time from 1970-2015 or earliest available after

1970. Graph the real GDP growth per capita with year on the x-axis and real GDP per

capita on the y-axis. Do you see the standard of living improving through time? Calculate

the growth rate of real GDP per capita. What is the average real GDP per capita?

4. Download the components of real GDP from 1970-2015 or earliest available after 1970:

Consumption (in real terms, not nominal terms)

Investment (in real terms, not nominal terms)

Government Expenditure (in real terms, not nominal terms)

Net Exports (in real terms, not nominal terms)

a. Calculate the share of the components of the GDP to total real GDP. Graph the

share of the components with year on the x-axis and share of consumption,

investment, government spending and net exports on the y-axis. Below is an

example of the graph:

Continuation of Instruction....

41

b. What is the country’s top-export? Import? Any interesting story on why the country

export what they export and import what they import?

5. Download CPI from 1950-2015. Calculate the inflation rate.

a. At what year do you see the highest inflation rate? Research and explain what

happened to the country during that year. Any interesting story?

b. At what year do you see the lowest inflation rate? Research and explain what


6. Download Unemployment Rate from 1950-2015.

a. At what year do you see the lowest unemployment rate? Research and explain what


b. At what year do you see the highest unemployment rate? Research and explain what



42

Part II. Report

Your group will present your analysis in class. You are given 10 minutes to present. The goal of

the presentation is to educate the class about the country you are assigned, making sure that you let

the class know about your answers in questions 1-6. A good presentation is informative being told

with pictures, graphs and good stories that you read on the country. You can do the traditional

powerpoint presentation, create a video etc. Be creative. Be passionate.

Suggestion on where to find the data:

You can use any data source as long as you cite your sources. You can go to the country’s

statistical website, the country’s central bank website.

One suggestion is to use the Worldbank’s World Development Indicators.

http://databank.worldbank.org/data/reports.aspx?source=world-development-indicators

1. In database, choose “World Development Indicators”.

2. Choose the country of your assignment.

For GDP data:

3. In Series, go to the filter.

Choose national accounts/Local Currency at constant prices. Go to National Accounts and

tick “US$ at constant 2010 prices” and then “Aggregate indicators” and “Expenditure on

GDP”. Choose


43

8/16/2016 Comments Sheryll Namingit

https://outlook.office.com/owa/?viewmodel=ReadMessageItem&ItemID=AAMkAGMwNmY0Njk4LTAzNDMtNDQ4Ni04NGEzLTQ5N2IzMThlYzU5MABGAAA… 1/1

Comments

Hi Jason, Molly and Dylan:

Here are my comments on your group submission last Friday:

Excellent start on the data and the write‐up! One of my favorite submissions so far! I like the graphs; they arevery clean and readable. (Just don’t forget the ꛶�tle in other graphs)

It would be very nice ifa. you can explain in class the Greek government‐debt crisis and how it led the recession in 2011b. you can expound why joining the EU lowered unemployment.

You are at a very good place right now. The only thing to do is to make sure you understand the mechanism bywhich events result to certain outcomes. Example: How will an increased foreign investment and large scaleinfrastructure works in the country lead to growth in the Greek economy? What components of the GDP areaffected by the debt crisis that lead overall GDP to decrease as well? And when you explain it in class, try tosimplify the words so that your classmates can easily understand.

Next steps, collect the data on CPI and unemployment and start doing your presenta꛶�on. Make sure you cite your sources.

Best,

Sheryll

Sheryll NamingitTue 7/19/2016 2:04 PM

To:Jason Walsh <[email protected]>; Molly Ridder <[email protected]>; Dylan Schmitz <[email protected]>;

Giving feedback is an essential part of students’ success. Below is a sample of how I provide feedbackon the preliminary work of students.

44

Sample Group Work

Greece Dylan Schmitz – Jason Walsh – Molly Ridder

1. Greece is located in southeastern Europe, consisting of two peninsulas and thousands of

islands in the Aegean and Ionian Seas. It shares borders with Albania, Bulgaria, and

Turkey. This area is mostly mountainous with ranges extending deep into the sea. Often

called the birthplace of Western Civilization, 11.03 million people live in Greece as of

2013. The official language is Greek and they have a Constitutional Republic, a state

where the officials are elected as representatives of the people, and must govern

according to existing laws that limit power over the citizens. The first Greek-speaking

tribes arrived in Greek mainland around 1900 BC. Hellenes (people of the mainland)

organized naval and military expeditions to try and conquer surrounding areas. During

the 5th century, Greece became a world power, with city-states such as Athens, Thebes,

and Sparta. In 146 BC, Greece fell to the powerful Roman Empire. In 1452 the Romans

fell to the Turks and the Greeks remained under rule of the Turks until they revolted in

1821 and won their independence. After many years of relatively turmoil-free

government, in 1967 the Greek government was overthrown by George Papadopoulos,

a colonel who led the coup that took place in Greece. This was eventually suppressed

and the Greek government was put back into place. In 2007, the Greek government

undercounted shortages all throughout the economy and tax evasion was at an all-time

high, leading to a massive economic collapse in the country, requiring a huge bailout

from the EU and billions of dollars in loans being taken out just so the country could pay

their bills.

Sample Output

45

Sample Group Work

2. GDP GROWTH RATE

i. Lowest GDP Growth Rate – -9.1% (2011)

1. Greece has suffered two major recessions since 1970, one being

in 1974, and the second being in 2011. The more severe

recession, in 2011, started with the 2008 Stock Market Crash,

which sent the entire world economy into a flurry that we are still

recovering from to this day. While economies were still failing,

Greece suddenly announced that they have been understating its

deficit figures for years. This caused world banks and other

countries to completely cut off any financial help to Greece,

putting them on the fast track to bankruptcy by spring 2010. The

International Monetary Fund (IMF) and the European Commission

issued bailouts to Greece, eventually totaling more than $296

billion dollars. These bailouts had harsh conditions, though, with

harsh budget cuts and steep tax increases to make up for the

Greek government’s blunder.

(0.150)

(0.100)

(0.050)

-

0.050

0.100

0.1501

97

0

19

72

19

74

19

76

19

78

19

80

19

82

19

84

19

86

19

88

19

90

19

92

19

94

19

96

19

98

20

00

20

02

20

04

20

06

20

08

20

10

20

12

20

14

GR

OW

TH R

ATE

YEAR

GDP Growth Rate

Sample Output

46

Sample Group Work

ii. Highest GDP Growth Rate – +10.2% (1972)

1. In 1967, a group of right wing military officers seized control in a

coup. By effectively gaining control of the capital city of Athens,

these officers were able to gain strategic positions on the

government and the people of Greece. These men also sent out a

large number of small units to arrest political leaders and other

leaders in the Greek government and military, which would total

up to almost 10,000 arrests. Outside countries saw this an

opportunity to capture key areas of the Greek economy, with

American monopolies and investments accounting for more than

50% of foreign investment. Most of the domestic companies and

enterprises were wiped out, leading to more and more growth in

the foreign sector of the economy.

iii. Average GDP Growth Rate – +1.7%

Sample Output

47

Sample Group Work

3. On Excel Spreadsheet

a. GDP/Capita

i. Average - $21,087.80

ii. Growth Rate – +1.3%

b. The Standard of living, according to the graphs and data, has generally improved

over time, with times of decline around 1970, during the military coup and in

2007-2012, during the government-debt crisis in Greece. Although the data

shows an average positive growth rate, this rate isn’t reflective on how life really

was in Greece. Unemployment has always been a problem in Greece, even

during times of economic prosperity. Greece is currently still trying to recover

from the 2011 recession, so while the standard of living may be better than what

it was in 1970, it is still at its lowest point since 2000.

$-

$5,000.00

$10,000.00

$15,000.00

$20,000.00

$25,000.00

$30,000.00

$35,000.00

19

70

19

72

19

74

19

76

19

78

19

80

19

82

19

84

19

86

19

88

19

90

19

92

19

94

19

96

19

98

20

00

20

02

20

04

20

06

20

08

20

10

20

12

20

14

GD

P

YEAR

GDP per Capita

Sample Output

48

Sample Group Work


a. Components of Real GDP

b. Top Export – Petroleum Oils

i. By being so close to the Aegean and Ionian Sea, the Greek government is

looking more and more into underwater petroleum oil drilling, which is

one of the most profitable ways to get oil out of the ground, barring any

disaster with spills or fires. Greece is home to billions of barrels of oil and

trillions of cubic meters of gas, which could be seen as a savior for a

county going through such economic turmoil in the last decade. As of

today, Greece produces around 1,751 barrels per day (ranking 95th in the

world) and exporting 19,960 (ranking 53rd in the world). Along with being

one of the top exporters in the world, Greece also ranks 25th in the world

in importing oil, with around 355,600 barrels per day.

0%

10%

20%

30%

40%

50%

60%

70%

80%

1965 1970 1975 1980 1985 1990 1995 2000 2005 2010 2015 2020

Pe

rce

nta

ge

Year

Elements % of Total GDP

Export % of GDP Import % of GDP Consumption % of GDP

Investment % of GDP Govt. Spending % of GDP

Sample Output

49

Sample Group Work


a. Highest Inflation Rate – +26.87% (1974)

i. During the military coup from 1967 to 1974, increased foreign investment

and large scale infrastructure works in the country led to a very high

inflation rate when the economy finally decided to slow down after a

couple years of heavy borrowing and mass investment from foreign

powers.

b. Lowest Inflation Rate - -1.74% (2015)

i. The unemployment rate was so high, which in turn put a downward

pressure on wages. People were more likely to accept lower wages and

their dollar would not go as far in terms of buying power.


a. Lowest Unemployment Rate – 3.4% (1981)

i. In 1981, Greece joined the EU, meaning the Greece gave up certain things

like their own currency (drachma), in exchange for things like financial

stability and hopefully a more profitable future without major economic

collapses like in 2011.

b. Highest Unemployment Rate – 27.3% (2013)

i. Fresh off the greatest and most severe debt crisis Greece has ever seen

and one of the largest bailouts in the eastern world, it is expected for

unemployment to be at an all-time high as people are scrambling to pick

up the pieces of an economy that failed them.

-20.000

0.000

20.000

40.000

60.000

80.000

100.000

120.000

1965 1970 1975 1980 1985 1990 1995 2000 2005 2010 2015 2020

Year

Comparison of CPI, Inflation Rate, and Unemployment Rate

CPI Inflation Rate (%) Unemployment Rate (%)

Sample Output

50

Documents

Teaching Portfolio - Kansas State University · taking \sel es" or pictures that illustrate personal applications of economic principles we learned in class