Illinois Valley Community College
Economics
Course Number and Title: ECN 2003 Principles of Macroeconomics
Session: Winter Semester 2008
Instructor: David Gordon (B323)
Phone Number: (815) 224 - 0393 (email David_Gordon@ivcc.edu)
Office Hours: Mon. 11:00 A.M. – 1:00 P.M.
Tues. 1:45 P.M. – 2:30 P.M.
Wed. 11:00 A.M. - 1:00 P.M.
Thurs. 1:45 P.M. – 2:30 P.M.
Fri. 11:00 A.M. – 1:00 P.M.
Credit Hours: Three
Prerequisites: ECN 2002
Textbook: Principles of Macroeconomics, 7th edition, Prentice Hall Publishing,
Case and Fair. (Required)
Free To Choose by Milton and Rose Friedman (Any edition)
Principles of Macroeconomics, Study Guide, by Beveridge.
(Optional)
Periodicals: Wall Street Journal (Required)
Barrons (Optional)
Rationale:
The main goal of the course is to introduce the student to the fundamentals of economics, including the tools and models used by economists to study various macroeconomic problems. Students need to see how the aggregate sectors work together.
Course Objectives:
Upon completion of the course the student should have a firm grasp of the following topics:
1) The language of economics.
2) Thorough knowledge of forces that affect supply and demand.
3) Market equilibrium and disequilibrium.
4) Components of the macroeconomy.
5) National income accounting and measurements.
6) Recessions and unemployment.
7) Inflation and deflation.
8) Aggregate output and aggregate income.
9) Fiscal policy.
10) The Federal Reserve System.
11) Money creation and monetary policy.
12) Interest rate determination.
13) Aggregate demand and supply.
14) Keynesian economics.
15) Monetarism.
16) New classical economics.
17) Supply side economics.
Course Evaluation Information:
Evaluation:
Exam #1 15%
Exam #2 20%
Exam #3 20%
Exam #4 20%
Attendance/Assignments/
Quizzes 10%
Free To Choose Report 15%
Make-up exams will be given only in cases of documented
illnesses or qualifying emergencies.
Homework assignments:
Homework assignments will consist of problems in your textbook and supplemental problems given in the form of handouts.
Free To Choose Report:
You will be required to read Free to Choose and produce a five page report on any three chapters you choose. More information will be given on this after the first week of class.
Exams:
Exams will consists predominately of problems and other objective questions. The dates of the exams will be announced at least two weeks ahead of time.
Grades:
An average of 90% or above on all coursework guarantees an “A”, an average of 80% - 89% guarantees a “B”, etc.
Attendance:
I will formally take attendance. Attendance is STRONGLY encouraged for two main reasons: firstly, my exams closely parallel the topics emphasized in my lectures, secondly, the quizzes that will be administered will be “pop-quizzes”.
Withdrawal Procedure:
If you wish to withdraw from the class you must notify me in person. The withdrawal deadline is listed in the school catalog.
Tentative Schedule of Exam Material:
Week #1: Introduction and Chapter 1 (The Scope and Method of Economics)
Week #2: Chapter 2 (Scarcity and Choice)
Week #3: Chapter 3 (Demand, Supply and Market Equilibrium)
Week #4: Demand, Supply and Market Equilibrium continued. EXAM #1.
Week #5: Review of exam. Chapter 5 (Introduction to Macroeconomics) and Chapter 6 (Measuring National Output and National Income)
Week #6: Chapter 6 continued. Chapter 7 (Growth, Productivity, Unemployment, and Inflation)
Week #7: Chapter 8 (Aggregate Expenditure and Equilibrium Output)
Week #8: Chapter 8 continued. EXAM #2.
Week #9: Review of exam and Chapter 9 (The Government and Fiscal Policy)
Week #10: Chapter 10 (The Money Supply and the Federal Reserve System)
Week #11: Spring Break!!!!
Week #12: Chapter 11 (Money Demand, the Equilibrium Interest Rate and Monetary Policy)
Week #13: Chapter 11 continued. EXAM #3. Chapter 12 (Money, The Interest Rate and Output: Analysis and Policy)
Week #14: Chapter 12 continued. Chapter 13 (Aggregate Demand, Aggregate Supply, and Inflation)
Week #15: Chapter 14 (Unemployment and Inflation), Chapter 15 (Macroeconomic Issues), and Chapter 17 (Household and Firm Behavior in the Macroeconomy)
Week #16: Chapter 17 continued and Chapter 19 (Debates in Macroeconomics.)
Week #17: EXAM #4.
If you are a student with a cognitive, physical or psychiatric disability you may be eligible for academic support services such as extended test time, texts on tape, note taking services,
etc.... If you are interested in receiving academic support services, please contact the Special
Populations Office at 224-0284, office B-204.