ECON 100: Economic Issues and Policies Spring 2015: February 9, 2015 May 18, 2015 Section 12: 235 Purnell Hall; M W F, 11:15 am 12:05 pm Section 13: 236 Purnell Hall; M W F, 12:20 am 1:10 pm Instructor: Amanda Hughey Office: 034 Purnell Hall Email: hughey@udel.edu Telephone: 831-0268 Office Hours: M, F 1:15 2:15; T 12:30 1:30; and by appointment

Course Description Economic Issues and Policies takes a non-technical approach to basic economics, and applies economic concepts to contemporary issues, problems and policies. Covers both macro and micro topics. For information about the Economics Department and about requirements for majors and minors in economics, please visit www.lerner.udel.edu/economics.

Required Course Materials Textbook Principles of Economics, Dirk Mateer and Lee Coppock, W.W. Norton & Company, Inc, New York, 2014 ISBN-13: 978-0-393-93336-9

Learning Device Web enabled device (i.e. laptop, tablet, smart phone). Quizzes are administered through Canvas (see below: Canvas) and require a web-enabled device to be capable of presenting all of the Canvas features. You should bring your learning device with you to class each day.

Canvas (Learning Management System) All course materials will be available via Canvas, http://udel.instructure.com.

UD Capture Class sessions are recorded via UD Capture with LiveMark. After the lecture, a student can review the UD Capture classroom recording along with their LiveMark notes from class. To learn more about LiveMark, visit http://ats.udel.edu/livemark. To view course recordings: http://udcapture.udel.edu/2015s/econ100-012/ or http://udcapture.udel.edu/2015s/econ100-013/

Office Hours You may reserve an appointment during office hours via ScheduleThing, http://hughey.schedulething.com. You may reserve a maximum of one 15 minute appointment per day. You must schedule your appointment by 8:00 am the day you wish to meet. If you would like to cancel a scheduled appointment, you must do so no less than 12 hours in advance. If you fail to attend a meeting you have scheduled, you will not be able to schedule future appointments via ScheduleThing. In the Comments section of the form, pleased describe your goal for the appointment.

Attendance Policy This course follows University of Delawares policy for class attendance and its impact on course activities. The policy is available online. Students who wish to have an absence excused for reasons other than those listed in the University of Delawares Class Attendance Policy, must contact the instructor before the affected class. This includes students who would like to be excused for minor illness. Students who do not contact the instructor prior to the affected class may not be allowed to make up missed assignments.

Academic Dishonesty The faculty of the Department of Economics are strongly committed to upholding the University policy on academic dishonesty. You are responsible for knowing and abiding by this policy. It will apply to every quiz, assignment, examination and paper in the course. The policy is available online.

This syllabus is subject to change, it is your responsibility to have the most current version. Updates will be posted on Canvas.

http://udel.instructure.com/http://ats.udel.edu/livemarkhttp://udcapture.udel.edu/2015s/econ100-012/http://udcapture.udel.edu/2015s/econ100-013/http://hughey.schedulething.com/http://academiccatalog.udel.edu/Pub_ShowCatalogPage.aspx?CATKEY=KEY_450&ACYEAR=2014-2015http://www.udel.edu/stuguide/14-15/code.html

Course Activities 1. Unit Exams: Exams are a blend of extended response, and problems. The exams are not cumulative. 2. Quizzes: Quizzes are a blend of multiple choice, extended response, and problems. Daily quizzes relate to the

objectives covered since the prior daily quiz. Weekly quizzes relate to objectives covered since the prior weekly quiz. 3. Video Arguments: Video Arguments includes preparing two visual arguments about a current economic problem.

Your visual arguments will be in the form of a 1-minutes video and a 5-minute video. 4. Op-Ed Article: This is a written argument about a current economic problem in the form of an op-ed article that you

might find in a national newspaper. 5. Journal Entries: Journal Entries include responses to Essential Questions, reflections on in-class discussions and

other course activities. 6. Formative Assessments: Formative Assessments blend multiple choice, extended response and problems in the

context of real world situations. They differ from exams and quizzes in that they are used to develop your critical thinking and skills required to demonstrate mastery on the exams and quizzes. Formative assessments include group and individual assignments completed in class and for homework.

7. Readings: Readings will primarily come from the textbook, but may be supplemented with other sources. Any supplemental readings will be posted on Canvas.

8. Video Lectures: Video Lectures are assigned as homework to enhance your understanding of the material presented in the textbook. These lectures will be posted on Canvas.

9. Class Attendance: Class attendance will be taken daily. Class time will be used for quizzes, problem sets, readings, and mini-lectures.

Grading of Course Activities The purpose of this course is for you to be able to:

1. Explain key economic concepts and describe how these concepts can be used.

2. Interpret economic data. 3. Prepare an organized, clearly written analysis of a

current economic problem. Prepare an argument that recommends action on an economic issue.

The key economic concepts will be presented through real world applications, activities, simulations, and problems. My goal for you this semester is that you understand what it means to think like an economist, and that you understand how to use economic models and analysis tools. Your achievement of these goals will be measured on four exams, two visual arguments, a written argument, and your responses to journal posts. Each day you will take a quiz designed to measure your incremental mastery of the course concepts. Most weeks you will take a quiz to measure overall mastery of topics. Formative Assessments, Readings, Video Lectures, and Class Attendance are not considered measures of concept mastery, but rather opportunities to inform you of the critical thinking and skills that comprise mastery. Therefore, Course Activities are graded as according to the pie chart at the right.

Letter Grade Numeric Grade Equivalence Grades in this course will be converted from numeric to letter grades using a 4-point system. The table to the right provides letter and numeric grade equivalencies. Numerical grades will not be rounded. Grades as displayed on Canvas will be accurate to the second-to-last displayed place value.

A+ (n/a) A 4.000-3.835 A- 3.834-3.500 B+ 3.499-3.165 B 3.164-2.835 B- 2.834-2.500 C+ 2.499-2.165 C 2.164-1.835 C- 1.834-1.500 D+ 1.499-1.165 D 1.164-0.835 D- 0.834-0.500 F+ (n/a) F 0.499-0.000 F- (n/a)

This syllabus is subject to change, it is your responsibility to have the most current version. Updates will be posted on Canvas.

Unit 1 Exam, 12%

Unit 2 Exam, 12%

Unit 3 Exam, 12%

Unit 4 Exam, 12%

5-Minute Video

Argument, 12%

Op-Ed Paper, 12%

Weekly Quizzes,

12%

Daily Quizzes,

5%

Journal Entries,

5%

1-Minute Video

Argument, 6%

Course Reading Guide and Essential Questions

Unit 1: The Economic Way of Thinking

Essential Questions What is economics and what is the value of studying it? How can economists explain irrational behavior? How can societies effectively respond to the problem of scarcity? Why do people engage in trade? How can economists use the Production Possibilities Frontier model to illustrate trade-offs and opportunity costs? How can economists use the Circular Flow Model to describe economic activity?

Readings Chapters 1, 2, 17

Unit 2: Introduction to Microeconomics

Essential Questions How are prices determined in a market economy? How does market structure affect the determination of the market equilibrium? How do economists use marginal costs and marginal benefits to analyze choices?

Readings Chapters 3, 8, 9, 10, 12, 13

Unit 3: Introduction to Macroeconomics

Essential Questions Why are some countries wealthy and other countries poor? How should we measure the wealth of a country? How does inflation affect businesses and households? Why doesnt unemployment capture the full impact of joblessness? How can we use economic indicators to make forecasts about the economy?

Readings Chapters 15, 19 21

Unit 4: The Role of Government in the Domestic and International Economy

Essential Questions What is the role of government in a market economy? Can fiscal policy be used effectively to manage the economy? Can monetary policy be used effectively to manage the economy? What kind of policies should the United States have with respect to international trade?

Readings Chapters 7, 29, 30, 32, 33

This syllabus is subject to change, it is your responsibility to have the most current version. Updates will be posted on Canvas.

Class Schedule, Assignments, and Due Dates* Date Content Assignments/Assessments

(all assignment due at 11:59 unless otherwise noted)

February 9 Introduction and Course Expectations Journal Post 1

February 11 Class meets in the Student Multimedia Design Center, Rm B

February 13 What is economics? Journal Post 2

February 16 How can economists explain irrational behavior? Journal Post 3

February 18 Class meets in the Student Multimedia Design Center, Rm B

February 20 Broad Social Goals Weekly Quiz 1 Journal Post 4

February 23 Economic Systems Journal Post 5

February 25 Why people trade and Opportunity Cost Journal Post 6

February 27 Modeling in Economics & Production Possibility Frontiers Weekly Quiz 2 1 Min Video Storyboard & Annotated Sources

March 2 Production Possibility Frontier continued Journal Post 7

March 4 Circular Flow Model Journal Post 8

March 6 Introduction to Supply and Demand Unit 1 Exam (March 6 March 8)

March 9 Determinants of Supply and Demand Journal Post 9 1 Minute Video Final Draft

March 11 Equilibrium in the Market

March 13 Multimarket Equilibrium Weekly Quiz 3

March 16 Market Structures

March 18 Oligopoly and Game Theory Journal Post 10

March 20 Marginal Analysis Weekly Quiz 4 5-Minute Topic & Initial Sources

March 23 Diminishing Marginal Returns Journal Post 11

March 25 Diminishing Marginal Returns continued Unit 2 Exam (March 24 March 27)

March 27 Income Distribution 5 Minute Video Annotated Sources

Continued on next page

This syllabus is subject to change, it is your responsibility to have the most current version. Updates will be posted on Canvas.

Date Content Assignments/Assessments

(all assignment due at 11:59 unless otherwise noted)

April 6 Income Distribution and Wealth of Nations

April 8 Measuring Wealth and Determinants of Long Run Growth Journal Post 12

April 10 Measuring Wealth continued Weekly Quiz 5 Op-Ed Topic & Initial Sources 5 Minute Video Storyboard

April 13 The Business Cycle

April 15 Inflation Journal Post 13

April 17 Unemployment Weekly Quiz 6 Op-Ed Outline & Annotated Sources

April 20 Factors affecting the Business Cycle Journal Post 14

April 22 Factors affecting the Business Cycle continued

April 24 Six Economic Functions of Government Unit 3 Exam (April 24 April 26)

April 27 Fiscal Policy 5 Minute Video Complete Draft

April 29 Monetary Policy

May 1 Debates about Fiscal and Monetary Policy Weekly Quiz 7 Op-Ed Final Draft

May 4 Market Failures and Externalities 5 Minute Video Peer Reviews

May 6 Externalities and Public Goods

May 8 Public Goods and Price Controls Weekly Quiz 8

May 11 Trade Policies

May 13 Trade Policies

May 15 No class Unit 4 Exam (May 15 17)

May 18 No class 5 Minute Video Final Draft

*Note: Course content and assignments subject to change.

This syllabus is subject to change, it is your responsibility to have the most current version. Updates will be posted on Canvas.

Course DescriptionEconomic Issues and Policies takes a non-technical approach to basic economics, and applies economic concepts to contemporary issues, problems and policies. Covers both macro and micro topics. For information about the Economics Department and about r...Required Course MaterialsTextbookLearning DeviceCanvas (Learning Management System)UD Capture

Office HoursYou may reserve an appointment during office hours via ScheduleThing, http://hughey.schedulething.com. You may reserve a maximum of one 15 minute appointment per day. You must schedule your appointment by 8:00 am the day you wish to meet. If you woul...Attendance PolicyAcademic DishonestyCourse ActivitiesGrading of Course ActivitiesLetter Grade Numeric Grade EquivalenceCourse Reading Guide and Essential QuestionsUnit 1: The Economic Way of ThinkingEssential QuestionsReadings

Unit 2: Introduction to MicroeconomicsEssential QuestionsReadings

Unit 3: Introduction to MacroeconomicsEssential QuestionsReadings

Unit 4: The Role of Government in the Domestic and International EconomyEssential QuestionsReadings

Class Schedule, Assignments, and Due Dates*