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COURSE IDENTIFICATION
Section#: 30817
Class Begins: February 3, 2009
Time/Day: 6:30-9:40 p.m., Tuesday
Location: Science Lecture Hall 101
PROFESSOR
Name: Ralph F. Lewis
Office: Science Lecture Hall Course Assistant's Office
Office Hours: 5:15-6:15 p.m. Tuesdays
Telephone: (949) 630-3685
E-mail: ralph@ralph-lewis.com
Webpage: http://www.ralph-lewis.com/
COURSE ASSISTANTS
Assistant: Earleen Dunn Attendance Taker: Lena
Office Location: Forum Lecture Hall Office: Science Lecture Hall
Telephone: (714) 432-5755 Telephone: (714) 432-5697
Office Hours: M-Th 6:00-10:00 p.m. Office Hours: M-Th 5-10: p.m.
COURSE DESCRIPTION
An introduction to the principles and problems of macroeconomics. Surveys
the basic economic ideas and principles of macroeconomics, national income,
unemployment, inflation, economic growth, fiscal and monetary policy,
banking, the Federal Reserve System and international economics.
Three semester credit hours. (UC) Offered: F;S;Sum.
COURSE OUTLINE
I. Introduction to Economics
Lecture 1: The Nature and Method of Economics Audio Slides
Lecture 2: The Economizing Problem Audio Slides
Lecture 3: Demand, Supply, Prices, and Markets Audio Slides Handouts
Lecture 4: Capitalism and the Market System Audio Slides
Lecture 5: Consumers, Businesses, and Governments in the U.S. Economy Audio Slides Handouts
Exam 1: February 24th
Lecture 6: The Role of America in the Global Economy Audio Slides
II. National Income, Employment, and Fiscal Policy
Lecture 7: Measuring National Income and Output Audio Slides Handouts
Lecture 8: Unemployment, Inflation, and the Business Cycle Audio Slides Handouts
Lecture 9: How National Income and Output is Determined Audio Slides Handouts
Lecture 10: The Multiplier Theory Audio Slides
Exam 2: March 24th
Lecture 11: Aggregate Demand and Supply Analysis Audio Slides
Lecture 12: Fiscal Policy Audio Slides
III. Money, Banking, and Monetary Policy
Lecture 13: Money and Financial Institutions Audio Slides
Lecture 14: How Banks Create Money Audio Slides Handouts
Lecture 15: The Federal Reserve Banks and Monetary Policy Audio Slides Handouts
Exam 3: April 28th
IV. Macroeconomic Problems and Controversies
Lecture 16: Alternative Views on Monetary Theory and Policy Audio Slides
Lecture 17: Inflation, Unemployment, Expectation Theory, and the Phillips Curve Audio Slides
Lecture 18: Economic Growth in the U.S. Audio Slides
* Lecture 19: Federal Budget Deficits, Surpluses, and the Public Debt Audio Slides
V. International Economics
Lecture 20: International Trade and Trade Agreenments Audio Slides
Lecture 21: International Finance and the Balance of Payments Audio Slides
* Lecture 22: Economic Growth in the Lesser Developed Economies Audio Slides
* Lecture 23: Russia, China, Cuba & Japan: Economies in Transition Audio Slides
Exam 4 (Final Exam): May 26th
* Note: Lectures 5, 19, 22, and 23 are not on exams.
STUDENT LEARNING OUTCOMES
At the conclusion of the course students should be able to:
1. Apply the fundamental concepts and methods of economic analysis to interpret,
analyze, and solve problems while effectively communicating the economic
principles upon which the solution is based.
2. Apply standard economic models to explain the determination of the major
components of the macro economy.
3. Analyze the effects of economic policies on the macro economy in the short-
run and in the long-run.
COURSE MATERIALS AND RESOURCES
A. TEXTBOOK: (Either of these textbooks is acceptable.)
1. Macroeconomics, by McConnell/Brue, 16th edition, 2004. ISBN #0-07-287557-7
2. Macroeconomics, by McConnell/Brue, 17th edition, 2008. ISBN #0-07-327308-2
Textbook Website (16th Edition)
Textbook Website (17th Edition)
B. LECTURES, LECTURE SLIDES, AND OTHER RESOURCES
Lecture Audio
Recordings of the lectures in the MP3 file format can be downloaded.
Lecture Slides
Adobe Acrobat files containing the instructor's lecture slides can be
downloaded and printed. Printout these slides and bring them to class.
Use these slides to help you follow lectures. Take your notes directly
on these printouts. This should be an excellent source of material
to prepare you for exams.
Other Resources
Special links to articles, presentations, videos, and other resources
are available to you.
C. TUTORIAL AND SIMULATION SOFTWARE (recommended)
1. MacroSIM, by Ralph Lewis, 1989.
This is a computerized macroeconomic simulation of the U.S. economy.
You can make changes in the nation's money supply, government expenditures,
and marginal tax rate and evaluate the effect your changes have on the
condition of the economy from quarter to quarter. This is a free download.
D. OTHER SUGGESTIONS:
1. The Wall Street Journal: Business, economic, and political news.
Delivered to your house five days per week. Subscribe here for the
lowest possible rates. Subscribe Here
2. The Economist: A British weekly magazine with world-wide circulation
that provides an outstanding overview of world politics, business, and
economic affairs. Subscribe here for the lowest possible rates. Use your
professor's ID #1133 to receive the lowest rates. Subscribe Here
CLASS ATTENDANCE AND BEHAVIOR
Attendance Policy: Attendance is required and is taken using an attendance
slip. You must fill out and turn in an attendance slip for each session you attend.
Punctuality is expected. Students with more than four (4) absences may be dropped
without further notice.
Classroom Behavior: Food and drinks are prohibited in the classroom. Talking,
so as to disturb others, sleeping, reading nonrelated material, and placing your
feet on desks are prohibited when class is in session. Mobile telephones and
pagers must be silenced during lectures and turned off during exams.
WITHDRAWAL POLICY
If you decide to withdraw from this class you must initiate your withdrawal
through the college's records office. If you stop attending class and do not
officially drop the class, you will receive an F grade for the semester.
EXAMS, EXTRA CREDIT, AND YOUR FINAL GRADE
There will be three (3) midterm exams and one (1) final exam. Each exam will
consist of about 50 multiple-choice items. The exam questions will be based on
material covered during lectures and in your reading assignments. Each exam is
worth 100 grade points including the final exam. All students must take the
final exam in order to pass the class.
What You Need to Bring to Exams
Your Test Scores and Test Review
If you miss a midterm exam you will receive a zero score on that exam. No make
up exams will be given. Instead, you will have a special written assignment to
complete. It must be completed prior to the first class meeting following the
exam. Therefore, you will need to contact the instructor prior to the next class
to receive the assignment.
Your grade will be determined by a curve based on your cumulative points earned
on exams and extra credit points you earn by completing extra credit assignments.
Limit on Extra Credit: The maximum total combined amount of extra credit from
all sources cannot be greater than 35 points.
The percentage cutoffs for each letter grade may change during the semester
depending on class performance on the exams. However, the final grade criteria
will not be more demanding than the following:
Final Grade Minimum % Cumulative Points
----------- --------- -----------------
A 90% 360-400
B 80% 320-359
C 70% 280-319
D 60% 240-279
F 0% 0-239
Academic Honesty Policy
Please review the academic honesty policy and rules for our class. You are responsible for
knowing, understanding, and following these rules. Display the policy and rules