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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
Email:
hughey@udel.edu
Office Hours: M, F 1:15 2:15; T 12:30 1:30; and by appointment

Course Description

Office:
034 Purnell Hall
Telephone: 831-0268

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.

Course Activities
1.
2.

Unit Exams: Exams are a blend of extended response, and problems. The exams are not cumulative.
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.

2.
3.

Explain key economic concepts and describe how


these concepts can be used.
Interpret economic data.
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.

Daily
Quizzes,
5%

1-Minute
Video
Journal Argument,
6%
Entries,
5%

Unit 1
Exam,
12%

Weekly
Quizzes,
12%

Op-Ed
Paper,
12%

5-Minute
Video
Argument,
12%

Unit 2
Exam,
12%

Unit 4
Exam,
12%

Unit 3
Exam,
12%

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)
B+ 3.499-3.165
C+ 2.499-2.165
D+ 1.499-1.165
F+ (n/a)

A 4.000-3.835
B 3.164-2.835
C 2.164-1.835
D 1.164-0.835
F 0.499-0.000

A- 3.834-3.500
B- 2.834-2.500
C- 1.834-1.500
D- 0.834-0.500
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.

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
February 9
February 11
February 13
February 16
February 18
February 20
February 23
February 25
February 27
March 2
March 4
March 6
March 9
March 11
March 13
March 16
March 18
March 20
March 23
March 25
March 27

Content

Assignments/Assessments

Introduction and Course Expectations

Journal Post 1

What is economics?

Journal Post 2

Journal Post 3

Weekly Quiz 1
Journal Post 4

Journal Post 5

Why people trade and Opportunity Cost

Journal Post 6

Weekly Quiz 2
1 Min Video Storyboard & Annotated Sources

Production Possibility Frontier continued

Journal Post 7

Journal Post 8

Introduction to Supply and Demand

Unit 1 Exam (March 6 March 8)

Journal Post 9
1 Minute Video Final Draft

Equilibrium in the Market


Multimarket Equilibrium

Weekly Quiz 3

Market Structures

Oligopoly and Game Theory

Journal Post 10

Weekly Quiz 4
5-Minute Topic & Initial Sources

Diminishing Marginal Returns

Journal Post 11

Unit 2 Exam (March 24 March 27)

Income Distribution

5 Minute Video Annotated Sources

Class meets in the Student Multimedia Design Center, Rm B


How can economists explain irrational behavior?

Class meets in the Student Multimedia Design Center, Rm B


Broad Social Goals

Economic Systems

Modeling in Economics & Production Possibility Frontiers


Circular Flow Model

Determinants of Supply and Demand

Marginal Analysis

Diminishing Marginal Returns continued

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

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
April 6
April 8
April 10
April 13
April 15
April 17
April 20
April 22
April 24
April 27
April 29
May 1
May 4
May 6
May 8
May 11
May 13
May 15
May 18

Assignments/Assessments

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

Income Distribution and Wealth of Nations

Journal Post 12

Measuring Wealth continued

Weekly Quiz 5
Op-Ed Topic & Initial Sources
5 Minute Video Storyboard

The Business Cycle


Inflation

Journal Post 13

Weekly Quiz 6
Op-Ed Outline & Annotated Sources

Factors affecting the Business Cycle

Journal Post 14

Six Economic Functions of Government

Unit 3 Exam (April 24 April 26)

5 Minute Video Complete Draft

Weekly Quiz 7
Op-Ed Final Draft

Market Failures and Externalities

5 Minute Video Peer Reviews

Public Goods and Price Controls

Weekly Quiz 8

Unit 4 Exam (May 15 17)

5 Minute Video Final Draft

Measuring Wealth and Determinants of Long Run Growth

Unemployment

Factors affecting the Business Cycle continued


Fiscal Policy

Monetary Policy

Debates about Fiscal and Monetary Policy


Externalities and Public Goods
Trade Policies
Trade Policies
No class
No class

*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.