Course Outline Spring Semester 2014 Online Class Session

Course Outlinespring Semester 2014 Online Class Sessionprinciples Of

Course outline Spring Semester 2014---Online-Class Session principles of Economics------------Eco 211 Professor: Stephen M. S. Kaifa, Ph.D. Professor of Economics and Finance Department of Anthropology, Sociology & Economics County College of Morris Randolph, NJ 07869 Office: DH 319 Office Hours: Monday and Wednesday from 11:00 AM to 12:00 Noon and Wednesday from 5:15 to 6:15 PM. Phone: ( E-mail: [email protected] [email protected] · Textbook: Principles of Macroeconomics , by Case, Fair & Oster, 11th edition. · Supplementary: Study Guide, YouTube, Economics Websites ( and Professor’s Handouts.

Course Objective: To help students master the essential principles of economics with applications. To help students better understand economic perspectives, reasoning and issues. To help students enjoy economics and create interest in the subject matter. To understand why the real world is what it is. To recognize that the choices we make and the manner or approach in which we make these choices will help explain much of why the real world is what it is.

We will focus on those issues that will make you understand how a modern market oriented society works. It involves looking attentively at aggregates or general overview of the market and its major components. Beginning courses in economics are traditionally divided into two components: Macroeconomics and Microeconomics. They contain some differences in viewpoints and some similarities. Macroeconomics is chiefly concerned with the economy as a whole, or with large segments of it.

It focuses on such issues as macro-measurements, private and public sectors, unemployment and inflation, the nation’s total output of goods and services, and government policies as well as money and banking issues. Economics in general is a science concerned mainly with the way society employs, manages or allocates its scarce resources which have alternative uses to produce goods and services for present and future consumption to satisfy human unlimited material wants. It is about the choices we make and the way we make those choices, the impacts and the costs and benefits. Economics is a social science embedded in a web of social institutions, customs, beliefs, and attitudes. The central of economics in society is to give us the fundamentals in understanding the forces that drive these institutions.

Increasingly, adults must make economic decisions affecting themselves, their families, the community, and even their nation. · Businesses and governments make decisions affecting themselves, the communities, the nation and even other nations. · When they face economic issues, they are likely to find these issues complex and confusing, especially if they lack economic knowledge and the ability to apply economic reasoning to economic problems. · An understanding of economic analysis can help us understand why individuals, businesses, and governments behave as they do and helps people make sense of their world. · The Nature of economics helps students become smarter consumers and better decision makers. · The Nature of Economics helps students prepare for their roles as producers, problem solvers and better citizens Course Outline: This course is divided into three parts.

Each part consists of about four to five chapters and each part has a test. Also, you will have four online assignments. All students in this section must register with your student access code to mypearsonlabs.com. All your assignments and tests will be posted at that site and you will do them online at . All assignments and Tests will be done Online .

You are required to take a big responsibility for your learning and I will serve has a coach/instructor. You will be required to read the chapters and all class material on a timely basis. You are required as an ONLINE class to use this website . Below are the chapter listings for reading and studying for all assignments and tests. Hopefully, each of you is highly motivated and self-disciplined to work most often independently.

You must have a lot of conscientiousness and self-direction in doing an ONLINE course. You must also have excellent time management skills. Now let’s begin: You may want to form a chat group with your classmates. The book comes with a website for studying and practicing many of the concepts and principles discussed in the chapters. Additionally, the textbook comes with a host of learning tools; they include a study plan; unlimited practice exercises online, a graphing tool, flash cards, study guide and videos.

You are required to visit the website at regular intervals for important information and announcements. Registration process is listed below. Part one will cover the Introduction to Economics, the Scope and Methods of Economics, Theories and Models, Working with Graphs and Math, Resources, Scarcity, Choices, Opportunity Costs, Specialization, Production Possibilities Curve, Economic Systems, Markets, Demand and Supply, Price System, Introduction to Macroeconomics and Public and Private Sectors. Part One---- Chapters 1, 2, 3, 4 & 5 Test One = 25% of total grade * Test date: ______________TBD Part two will cover Introduction to Macroeconomics continuation, The circular Flow Diagram, the National Income Accounting, Aggregate Expenditure/Output Models, International Trade and Comparative Advantage, The Balance of Payments, the Foreign Exchange Market/Global Economy, Business Cycle and Economic Growth, Unemployment and Inflation Issues.

Part two ----Chapters 6, 7, 8, 19 & 20 Test Two----25% of total grade Test date: ______________TBD Part three will cover the Basic Macro- Relationships and the Aggregate Expenditure Model continuation, Aggregate Demand and Supply, Income and Expenditure Models, Federal Government & Fiscal Policy, Money and Banking, Federal Reserve System & Monetary Policy, and Macro Policy Issues and Tradeoffs. Part three---- Chapters 9, 10, 11, & 12 Test Three----25% of total grade Test date__________________TBD You will also be given four online assignments on the Pearson’s website in addition to the three tests. These assignments will be worth (combined) 25% points of your total grade. *Notice: There is absolutely no makeup in this class.

Sorry. In an emergency situation which will be analyzed on a case by case basis, consideration maybe given reluctantly. Please discuss this with me. Again, we have a NO make-up policy in this class. CLASS POLICIES AND GRADING SYSTEM The Final Comprehensive Exam at the end of the semester is optional (in-person exam given at CCM campus)—for those opting to take it; you may use the final exam grade as a replacement grade for your grade (average of the three tests and assignments combined or as a replacement for just one low previous grade).

Textbook and pearsonmylabs.com access code are required for this course. Grades Distribution: · · 90% and above = A · 80% to 89% = B · 70% to 79% = C · 60% to 69% = D · Below 60% = F *There will be absolutely no makeup given in this class for any and/or all missed test(s) and assignments. Let me re-emphasis that again…there will be no make-up in this class for any missed works (tests and assignments)