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Principles of Macroeconomics
Econ 2301-83004
SPRING 2013 | 3 Credit Hours

INSTRUCTOR’S NAME: Pete Mavrokordatos
TELEPHONE NUMBER: 817-515-6270
CLASS MEETING TIME: MWF 2.10pm – 3.05pm
DROP DATE: April 18, 2013



Econ 2301: Principles of Macroeconomics-- This is a Texas Common Course Number. This is a DCCCD Core Curriculum Course. An introduction to the principles of macroeconomics is presented. Economic principles are studied within the framework of classical, Keynesian, monetarist and alternative models. Emphasis is given to national income determination, money and banking, and the role of monetary and fiscal policy in economic stabilization and growth. Other topics include international trade and finance. (3 Lec.) Coordinating Board Academic Approval Number 4506015125

COURSE PREREQUISITES: Developmental Reading 0093 or English as a Second Language (ESOL) 0044 or have met the Texas Success Initiative (TSI) standard in Reading. Sophomore standing recommended.


Macroeconomics: Understanding our Material World, 2nd edition, published by Kendall Hunt. Online E-Text: Digital Format, Internet Delivered. Access code can be purchased online at this link and all needed course material downloaded: Online E-Text ISBN: 978-0-7575-4725-6 Access code can also be purchased at campus bookstores—Bookstore Access Code ISBN: 978-0-7575-4496-5 Remember, the delivery of all course materials, assignments and assessments will be digital and internet based—the course does not utilize a traditional textbook*. All portions of the materials can be printed from your computer as well. *Students now have the option of purchasing a package at campus bookstores which contains the access code as well as a hard copy of the textbook. The ISBN for this option is: 978-0-7575-8049-9

BE SURE TO ENTER YOUR CORRECT SECTION NUMBER WHEN YOU REGISTER WITH WEBCOM FOR THE COURSE MATRIALS. (See your fee receipt) If you have any difficulty in ordering the course materials or registering in the WebCOM system, contact:


Economics 2301, as part of the Core Curriculum satisfies the following Exemplary Educational Objectives in Economics set forth by the Texas Higher Education Coordinating Board.


A. Understanding the methods, technologies, and data that economists use to investigate the human condition. B. Understanding the development of our economic institutions and processes and how they relate to our political system and culture. C. Demonstrating the use of and offer critiques for alternative explanatory systems and theories in the principles of macroeconomics course. D. Understanding and describing alternative explanations and approaches to domestic social issues. E. Analyzing how historical, social, political, cultural and global issues have an influence on our economy. F. Understanding the evolution and current macroeconomic role of the U.S. in the world economy. G. Differentiating and analyze historical evidence (documentary and statistical) and differing points of view in economics. H. Developing the ability to establish and apply reasonable criteria in determining the acceptability of historical evidence and social research. I. Analyzing, critically assessing, and developing creative solutions for macroeconomic problems. J. Being able to apply the macroeconomic principles and theories presented in this course by using the information obtained from the news media and other appropriate sources to evaluate current economic policy as it relates to the current economic and public policy environment.


Upon successful completion of Economics 2301, you should be able to: Identify the major microeconomic problems confronting the United States economy Identify and explain the primary causes of these problems Identify and explain the principal, economic effects of these problems Demonstrate mastery of the macroeconomics theory necessary to think intelligently about these problems Identify, explain, and justify appropriate policy options for resolving these problems Evaluate the validity of policies proposed by others for resolving these problems Succeed in subsequent business courses that require an understanding of macroeconomics theory for successful or enriched completion Apply the theory of macroeconomics to subsequent courses in the arts, humanities, sciences, and social sciences

Topics covered in this course shall include, but not be limited to:

B.Macroeconomic organization
C.Production possibilities and alternative cost
D.Demand, supply, and market equilibrium
E.National income accounting
F.Circular flow of income and output
G.Aggregate demand, supply, and macroeconomic equilibrium
H.Macroeconomic instability
I.The role of government in a market directed economy
J.National income determination via consumption and investment
K.Fiscal theory and policy as a tool of macroeconomic stabilization
L.Monetary theory and policy as a tool of macroeconomic stabilization
M.Activist versus non-activist macroeconomic policy
N.Macroeconomic application of international trade and finance
O.Budgets, deficits, public debt, and public policy
P.Productivity and growth
Q.Alternative explanations to classical and Keynesian theory


Economics 2301 satisfies the following Core Curriculum Intellectual Competencies defined by the Texas Higher Education Coordinating Board.

READING: the ability to analyze and interpret a variety of printed materials-above 12th grade level. WRITING: the ability to produce clear, correct and coherent prose adapted to purpose, occasion and audience-above 12th grade level. LISTENING: analyze and interpret various forms of spoken communications, possess sufficient literacy skills of writing and reading-above 12th grade level. CRITICAL THINKING: think and analyze at a critical level. COMPUTER LITERACY: understand our technological society, use computer based technology in communications, problem solving, and acquiring information.


Economics as a field of study seeks to explore a series of ongoing issues and problems, which confront all of us in our daily lives as producers, consumers, and citizens. Economics seeks to provide some insight into the nature of these issues and problems and suggests possible solutions. When making decisions as producers, consumers, and citizens in the real world, however, we know we must face certain realities, such as limited resources; and the fact that every proposed solution has a cost. Economics seeks to deal with these realities as it pursues an ultimate goal of improving the overall quality of life that people might enjoy. In summary, as you move through this course it is hoped that a better understanding of the way the world "works" will emerge...along with some better ways to achieve an understanding world.


Orientation --Lesson 1
The Fundamentals of a Market Economy

Lesson 2
The Economic Problem

Lesson 3
Market Allocation--Supply and Demand

Lesson 4
The Public and Private Material World

Lesson 5
National Income Accounting—Measuring our Material World

Lesson 6
Instability—Business Cycles

Lesson 7
Classical Economics and Modern Theory

Lesson 8
Understanding the Aggregates and the Multiplier

Lesson 9
Fiscal Policy and Public Debt

Lesson 10
Money and the Federal Reserves System

Lesson 11
Commercial Banks: the Critical Link

Lesson 12
The Federal Reserve and Monetary Policy

Tentative Calendar

At this point specific dates have not been assigned for exams, quizzes and homework. All homework should be completed and turned in during the class period after the chapter was finished. No late homework will be accepted. The quizzes are not pop quizzes and will be taken the day after the chapter is finished. NO MAKE UPS FOR THE QUIZZES. The exams will cover 3 chapters each and we’ll decide together when to schedule an exam. If there is a need for a make up, this will be decided between the instructor and the student.


Chapters Homework 1. 1 pp 16 3 pp 17 2. 2 pp 39 3. 1 pp 65 2 pp 65 4 pp 66 EXAM 1 100 POINTS

4 1 pp 93 5 QUIZ 1 25 POINTS 1 pp 117 2 pp 117 6 1 pp 139 EXAM 2 100 POINTS

7 3 pp 160 8 QUIZ 2 25 POINTS 1 pp 181 2 pp 182 9 2 pp 210 EXAM 3 100 POINTS

10 1 pp 230 11 2 pp 250 12 2 pp 280 FINAL EXAM 100 POINTS


No grade information will be given out over the telephone or via e-mail.




Course Grade Total Points

A 90% UP 558 UP B 80% - 90% 496 - 558 C 70% - 80% 434 - 496 D 60% - 70% 372 - 434 F 60% DOWN Below 372



Also, please register on the eCampus (Blackboard) site as soon as it is available. You will be using both the eCampus and the Webcom site during the term.

Blackboard--Go to:
Click “Login” and enter the letter “e” followed by your seven digit Student ID number for Username and for Password / Press Enter Click on the “Courses” tab at the top of the page.
Your own BlackBoard (Bb) page will appear with your name and courses listed. Click on the course name to enter the course.
To avoid “security problems” please change your Password after accessing the course.

Go to “Student Tools/Personal Information” and choose Change Password … and be sure to verify/enter your own personal Email address under “Edit Personal Info”, don’t forget to click on “Submit” at the bottom of that page! The email address that you provide will be our primary means of communication regarding exams, deadlines, etc. during the semester.  Also be sure to update your email address if it changes during the semester.

For “Technical Assistance” with Blackboard (eCampus) contact: or 972-669-6402

Free Tutoring Assistance:

Economics Tutoring Lab--Room M216-Richland Campus
The Learning Center
Medina Hall M-216 972-238-6226

Please call for current schedule. You can also get help with any questions about the Webcom system set-up and function.


There are seven components in each of the 12 Lessons for your Macroeconomics course. Each Lesson follows this format:

1. Video Introduction
2. Preview Questions
3. PowerPoint
4. E-Text
5. Animations / Interactives
6. Drills and Practice
7. Lesson Quiz

The following Study Sequence will maximize your chances for success in each Lesson:

1.      Watch the Video Introduction and complete the short set of Preview Questions 2.Complete the Power Point presentation for each lesson. 2.       Read all of the E-Text
4.Watch the Animations (print if needed) and complete the Interactive Exercises 3.       Do the Drills and Practice review questions. 4.       Review the topics that you did not fully understand by listening to the voice over PowerPoint or you can advance the slides manually. Contact your Instructor or visit the Economics Lab if you need help. 5.       Actively participate in the class. This is part of your grade! 6.       Pay attention to the due dates.

7.       Complete the appropriate Lesson Quizzes after completing your work on the designated set of Lessons … and prior to the designated deadline! 8.      Review


In order to be successful students must attend and participate in enrolled courses. Attendance is required for this class. See EVALUATION PROCEDURES section for complete details.


Students are encouraged to discuss academic goals and degree completion with their instructors. Specific advising is available throughout the semester. Check for more details.

XI. INSTITUTION POLICIES: Refer to the Richland College website:

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