Principles of Macroeconomics
|Dr. Terrel Gallaway
Office: STRO 368
and by appointment
Economics is a social science. Therefore, economists are interested in people, the decisions they make, and how these decisions affect society. In particular, this course will focus on the decisions of consumers and producers. We will examine, among other things, how these decisions determine what is produced, how it is produced, and how final goods are distributed among consumers. As we do, we will pay particular attention to issues of efficiency, equity, & economic stability.
The subject matter of this course includes much that affects you daily. The decisions you make about what to wear, what to eat, or where to work are (partly) economic decisions. In fact, topics as diverse as unemployment, world hunger, pollution, and whether or not to go to class are all things that can be studied and analyzed using economic theory. Despite this focus on such every-day topics, our approach in this class will largely be a theoretical one. That is, in this course you will not be expected to learn a bunch of facts and figures. Instead, you will be expected to learn a series of relationships and how to use these relationships to logically evaluate a wide variety of issues.
Economics graduates enjoy interesting and rewarding careers. Well-known economics graduates include former presidents Ford, Reagan, and Bush, Alan Greenspan, Ben Bernanke, governor Arnold Schwarzenegger, Tiger Woods, Ted Turner, the cartoonist Scott Adams, Astronaut Eileen Collins, Lionel Ritchie, Supreme Court Justice Sandra Day O'Connor, political columnist William F. Buckley, Paul Newman, Ben Stein, and the CEO's of several Fortune 500 corporations. For more information on the economics major at Missouri State, please visit: http://www.missouristate.edu/econ/22809.htm
Learning is an active process. As students, you must take primary responsibility for your education. If you hope for a passing grade in this class, you should start by living up to these minimum expectations:
Among the many things students should learn in a macroeconomics course, there are a few broad concepts that stand out for their importance in understanding the economy and for their vast relevance to public affairs. By the end of the semester you should have a solid understanding of each of these important concepts:
Final grades will reflect student performance on quizzes, two midterm exams and a final exam. Deductions might also be made as outlined above. Exams will be given on the days indicated in the class schedule. Scores will be weighed on the following basis:
|First Exam: 250 points
Second Exam: 250 points
Final: 275 points each
Quizzes, Papers, etc. 225 points total
Total 1000 points
Final grades will be awarded based on the following scale:
|931 - 1000 points = A
881 - 930 points = A-
831 - 880 points = B
781 - 830 points = B-
731 - 780 points = C
681 - 730 points = C-
600 - 680 points = D
below 600 points = F
There are no "plus" grades in this course. However, if a student feels strongly about it, a "minus" grade can be replaced by the next lower "plus" grade. Though the students should not count on such good fortune, the instructor reserves the right to modestly widen the ranges for passing grades.
The final exam will primarily cover material from the third unit. Additionally, part of the exam will be comprehensive and cover topics from throughout the semester that are particularly important or that students failed to learn for earlier exams.
Students will be given two or more quizzes, class discussions, or reaction papers each unit. These assignments will generally relate to the supplementary texts or to additional outside readings for the course. The point value of these small assignments will very depending on the length of the assignment and the total number of short assignments given. Typically they will count for 50 points or less. Generally, there will be no quiz make-ups. However, students may drop their lowest score on one of these assignments.
At the discretion of the instructor, some extra credit assignments may be given. These assignments will be on BlackBoard. The extra credit is voluntary, but all students must register for BlackBoard.
Technology: All cell phones should be turned off when entering class. For tests, only simple calculators will be allowed. Graphing calculators, programmable calculators, and cell phones will not be allowed.
Permission must be obtained from the instructor before using any recording device in class. Violation of this policy may be considered an act of cheating or plagiarism (see below). The contents of class lectures are protected property. Recordings of the class including, but not limited to, digital audio, digital video and tapes, is not allowed without first obtaining written permission of the instructor.
Absentee Policy: Attendance will be taken throughout the course. Although attendance and grades tend to be positively correlated, I will not directly deduct any points for absenteeism.
Plagiarism and Cheating Policy: All members of the University community share the responsibility and authority to challenge and make known acts of apparent academic dishonesty. Any student detected participating in any form of academic dishonesty will be subject to sanctions as described in the Student Academic Integrity Policies and Procedures, http://www.missouristate.edu/assets/provost/AcademicIntegrityPolicyRev-1-08.pdf also available at the Reserves Desk in Meyer Library, and in abbreviated form in the Missouri State Undergraduate Catalog. Possible sanctions include issuing an "XF" for a semester grade. It is your responsibility to read and fully understand Missouri State's Student Academic Integrity Policies and Procedures.
At a minimum, anyone caught plagiarizing or cheating will automatically receive a zero for the assignment. This zero will automatically be averaged into the semester's final score without any possibility of it being dropped, made-up, or weighted less. Students caught cheating on a quiz will have their semester grade lowered one letter in addition to receiving a zero on the quiz. Cheating and plagiarism include a variety of activities. If in doubt, ask me.
Makeup Policy: There will be NO make-up or early exams without an official, WRITTEN excuse. With a valid excuse, students will be allowed to take the exam on or before the day for which it was scheduled. After that day, the exam can be made-up only by taking an exam different than the one given in class. Students hoping to take a makeup exam should contact me immediately. The exam will be scheduled for the earliest time that is mutually workable. Students who do not make up their exam promptly will not be allowed to take it at all.
Please note their are policies common to all MSU classes. These policies can be viewed here: http://www.missouristate.edu/econ/63185.htm