House Bill 2504

Spring 2011 Course Syllabus

ECON-2301-01 (Prin Economics - Macro)

Faculty Information
SemesterSpring 2011
InstructorBoudreaux, Lowell Anthony
Phone(409) 984-6389
Business, Math, and Science
Chair:Glenda Dupuis
Telephone:(409) 984-6316
Hours:M-F 11:00a-1:00p
Building:Bookstore & Faculty Offices (PAFO)
Room #:112
Course Information
Course ID #10444
Course Subject-Number-SectionECON-2301-01
Course TitlePrin Economics - Macro
Course Description Emphasizes monetary theory; national income analysis; fluctuation and growth, public finance, international trade and current economic problems.
Course Prerequisites Basic skills competency in reading and writing.
Required Textbooks Required Economics by McConnell and Brue, Eighteenth Edition, McGraw-Hill, ISBN 978-0-07-337569-4; MHID 0-07-337569-1
Learning Objectives •Define Economics.

•Explain what economic principles are and how they are derived.

•List eight economic goals and give examples of conflicting and complementary goals.

•Define the economizing problem.

•Identify the four economic factors of production and income associated with each.

•Explain the concepts of allocative efficiency, productive efficiency and full production.

•Describe in detail the production possibilities curve.

•Differentiate between supply/demand, graph supply/demand curves, and state the Law of Demand and the Law of Supply.

•List the major determinates of demand and supply.

•Explain the concept of equilibrium price and quantity.

•Differentiate between economic and normal profits.

•Explain the three forms of business.

•Define and explain the differences between spillover benefits and cost.

•Identify the major sources of revenues and expenditures for local, state and federal government.

•Describe the business cycle and explain frictional, cyclical and structural unemployment.

•Define inflation, list the types of inflation and explain the effects of inflation on output and employment.

•Identify determinates of consumption, savings, and investment.

•Explain the injections vs. leakages approach to determining equilibrium GDP.

•State and explain the relationship between the multiplier, MPS and MPC.

•Explain aggregate demand/supply and discuss determinates of each.

•Distinguish between discretionary and nondiscretionary fiscal policy.

•Explain expansionary and nonexpansionary fiscal policy.

•Discuss the benefits and shortcomings of fiscal policy.

•Define money, and identify M1, M2 and M3.

•Discuss the structure and functions of the Federal Reserve System.

•Explain the three main Fed tools of monetary policy,

•Distinguish between loose and tight monetary policy.

•Discuss the relationship between economic growth and productivity.

•Explain the philosophical and mechanical differences between classical and Keynesian economics.

•Explain the causes and differences between public debt and budget deficits.

Major Assignments Six major exams will be given during the semester. The final exam will not be comprehensive and will only comprise material covered after the fifth exam. Students may elect to have their lowest exam grade to be dropped. A student may volunteer to take a comprehensive final exam over all covered material. The student’s grade will then be averaged using the final exam score. If the student scores higher on the final than his/her semester average his/her semester grade will be the higher of the two. Questions for all six exams will cover textbook readings, handouts, and class discussions. The daily average is made of selected assignments from the text, pop quizzes and other assigned projects. Each student will have the opportunity to earn 30 points of extra credit, which can be used to supplement their total possible points. Extra credit projects and activities will be assigned throughout the semester. Students, who elect to participate, will have the opportunity to pick from among several various assignments.
Discussion Topics Assignments are due when specified by the instructor. If you miss a daily or homework assignment, you will be given a grade of 0 for that assignment.

Attendance Policy Research has shown a cause and effect relationship between attendance and college success. Record will be taken at the beginning of each class, by seating chart. Being in class, on time, each class meeting is extremely important. A student, who enters the classroom after the bell and/or the roll, has been checked, will be considered absent. If a student is late or absent, it is the student’s responsibility to obtain the assignment. Under special circumstances make-up exams will be given at the end of the semester. I must be notified, the day of the exam if a special circumstance exists.
Determination of Final Grade Six major exams (100 points each) 600 Daily average 100                  Total possible points 700

Course grades will be assigned using the following scale

Points Grade

630-700 A

560-629 B

490-559 C

420-489 D

0 – 419 F

Final Exam Date May 13, 2011 - 11:00 AM
Campus Policies
Lamar State College - Port Arthur

Mission Statement

Lamar State College-Port Arthur is an open-access, comprehensive public two-year college offering quality instruction leading to associate degrees and a variety of certificates. The college, a member of The Texas State University System, has provided affordable, quality educational opportunities to residents of the Southeast Texas area since 1909.Lamar State College-Port Arthur embraces the premise that education is an ongoing process that enhances career potential, broadens intellectual horizons, and enriches life. The faculty, staff, and administration share a commitment to a mission characterized by student learning, diversity, and community service. The foundations for student success include compensatory education programs designed to fulfill our commitment to accommodate students with diverse goals and backgrounds, technical education programs that provide for the acquisition of the skills and demeanor necessary for initial and continued employment, and a core curriculum that develops the values and concepts that allow the student to make a meaningful contribution in the workplace or community. Student achievement is measured by the completion of courses and programs of study, successful performance following transfer to a baccalaureate program, and the attainment of individual goals.

Lamar State College-Port Arthur operates in the belief that all individuals should be:

* Treated with dignity and respect;

* Afforded equal opportunity to acquire a complete educational experience;

* Given an opportunity to discover and develop their special aptitudes and insights;

* Provided and opportunity to equip themselves for a fulfilling life and responsible citizenship in a world characterized by change.

 College Grading Scale

Below 59F

(Some specialized programs may have different grading scales)


 Academic Dishonesty

Academic dishonesty in any form will not be tolerated.  Please consult the student handbook for consequences of academic dishonesty.  These policies will be strictly enforced.


 Facility  Policies

        No food, drinks, or tobacco products are allowed in the classroom.

        Only students enrolled in the course are allowed in the classroom.

        Cell phones and/or pagers are allowed ONLY on vibrate mode. Leaving the classroom to answer a page or phone call may constitute an absence or a tardy.


 Special Considerations

         The American with Disabilities Act (ADA) is a federal anti-discrimination statute that provides comprehensive civil rights for persons with disabilities. Among other things, this legislation requires that all students with disabilities be guaranteed a learning environment that provides for reasonable accommodation of their disabilities. If you believe you have a disability requiring an accommodation, please contact the Special Populations Coordinator, Room 231, in the Madison Monroe Building. The phone number is (409) 984-6241.

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