This is a general syllabus for your information. To receive the one for your specific class call your instructor.

Macroeconomic Principles (ECO 210)

Prof. Ali A. Ataiifar

Office: #3311

Office Hours: By appointment

Phone: (610) 359-7360

E-mail: aataiifa@dccc.edu

Web Address: www.dccc.edu

Welcome to the Telecourse (Independent Study). The purpose of this letter is to inform you of your responsibilities and the steps you have to take to complete this course successfully. Although the course is designed to be completed mostly on your own, the material covered is the same as the courses that meet two or three times a week. To succeed, you must meet the deadlines set for taking the exams, turning in the term papers, homework assignments, if any, completing the computer work, and viewing the Video Tapes.

TO COMPLETE THIS COURSE YOU ARE REQUIRED TO:

1. Watch the Video Tapes: ECONOMICS U.S.A. These tapes are put on reserve in the library. They are not to be taken out of the library. The contents of the tapes will also be broadcast by the Public Broadcasting System (PBS) Channel 12. For additional information on the video tapes and the timing of the broadcast, contact the Instructional Media Services of the college at 359-5158.

2. Read the assigned chapters and answer the end of the chapter questions as indicated in the course outline. These questions are considered as homework and therefore are for practice purpose. You do not have to turn them in.

3. Take the exams. There are three exams.

During the exam dates, given below, you must go to the Learning Center (Room 4260) to take the test covering the chapters indicated in your course outline. Go in to the Learning Center, walk up to the front desk, give your name and student I.D. card, sign the list and ask for the Macroeconomics test for the "Telecourse Study." After you are done, turn in the test to the Learning Center staff. All exams must be taken on the main campus. BE SURE YOUR NAME IS ON THE TEST, THE ANSWER SHEET, AND YOUR HOMEWORK.

4. Call or contact me by e-mail for any questions and appointments.

Call the Learning Center at 359-5076 to inquire about their opening hours. You must be there at least two hours before their closing time. This will give you sufficient time to take the exam.

IF YOU DECIDE TO WITHDRAW FROM THE COURSE, YOU HAVE TO CONTACT THE RECORDS OFFICE AND FILL OUT THE APPROPRIATE FORMS FOR THIS PURPOSE, OTHERWISE YOU WILL AUTOMATICALLY RECEIVE A FAILING GRADE, i.e. "F".

Students with Disabilities
Students needing accommodations in this class due to a learning, physical or pyschological disability, please see me to discuss your accommodation letter. If you have not arranged accommodations, you must contact Ann Binder, Director of Special Needs Services, in the Career and Counseling Center (room 1320, 610-325-2748).

COURSE OUTLINE

RECOMMENDED MATERIALS:

1. Robert L. Heilbroner, The Worldly Philosophers, Touchstone Books. 1986, 6th ed.

2. William Greider, Secrets of the Temple, Simon & Schuster Publishers, 1987.

3. Head to Head, Lester Thurow, Morrow Publs., 1992**

4. Read on a regular basis a financial magazine or newspaper such as "The Wall Street Journal" or "Fortune" magazine. See your instructor for the subscription forms.

Successful completion of this course should enable the student to verbally, graphically and mathematically:

• Show how economic resources and goals relate to a price system based on supply and demand.
• Explain how the economy can be assessed through national income accounts (GDP,NI,PI,DI).
• Identify and evaluate the economic consequences of different trade policies.
• Explain how fixed and flexible exchange rates influence Balance of Payments accounts: the Current-Account, the Capital-Account and the Official Reserve Account.
• Assess the significance of international trade and finance for the U.S. and world economies.
• Evaluate economic instability and fiscal policy through classical Keynesian and monetarist models.
• Explain how financial markets, the Federal Reserve System and the banking system interrelate in monetary policy.

PREREQUISITE: Developmental Mathematics (MAT. 060) or equivalent placement test score.

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90-100 A

80-89 B

70-79 C

60-69 D

Below 60 F

THERE ARE NO MAKE-UP EXAMS! 

COURSE CONTENTS: CHAPTERS

I. An Introduction to Economics and the Economy

1. The Nature and Method of Economics

Read Chapter 1;

Appendix to Chapter 1: Graphs

2. The Economizing Problem

Scarcity-Choice-Opportunity Costs

Read Chapter 2;

3. Demand and Supply

Law of Demand; Law of Supply;

Market Equilibrium;

Read Chapter 3;

4. The Public Sector

Externalities; Public Goods;

The Circular Flow Model

Read Chapter 5;

1. National Income Accounting

GDP; NDP; NI; PI; DI;

Read Chapter 7;

2. Unemployment and Inflation

Read Chapter 8;

3. Aggregate Demand and Aggregate Supply

Read Chapter 11;

4. Fiscal Policy

Read Chapter 12;

1. Money and Banking

Read Chapter 13;

2. Money Creation Process

Read Chapter 14;

3. The Federal Reserve System

Read Chapter 20

See VT 1230A, International Trade...

* This is a non-technical book with no graphs or mathematical formulas. It talks about the lives, times and ideas of the great economic thinkers.

** This book provides a thorough analysis of competition between U.S. and Japan’s economy.

If there is one area that appears to give the beginning economics student more trouble than any other, it is the subject of graphs. It is true that economists make extraordinary use of "graphs" in the learning process, and the reason for this is not readily apparent to most students. Graphs are learning aids, crutches to assist you in the learning process. That they are an impediment to many students is, therefore, something of an irony.

Can economics be mastered without graphs? Sure, but not without great sacrifice of time and energy. So approach the use of graphs as a potentially valuable learning device, and master the concept early. It will pay dividends.

We will review only the basics of graphs, but that should be sufficient to reduce (or even remove) any fear you may have about the construction or interpretation of graphs.