House Bill 2504

Spring 2011 Course Syllabus

ECON-2301-73 (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 #10445
Course Subject-Number-SectionECON-2301-73
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 required, ready access to a computer, basic computer skills, Internet access with e-mail, e-mail skills, Internet navigation skills, file management skills. Software: Windows 95, Word 97, Excel 97, Access 97, and PowerPoint 97 (or newer).
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 Chapter 1: Limits, Alternatives, and Choices

Chapter Quizzes and Assignment

Chapter 2: The Market System and the Circular Flow

Chapter Quizzes and Assignment


Chapter 3: Demand, Supply and Market Equilibrium

Chapter Quizzes and Assignment

Chapter 4: The U.S. Economy: Private and Public Sectors

Chapter Quizzes and Assignment


Chapter 24: Measuring Domestic Output and National Income

Chapter Quizzes and Assignment

Chapter 25: Economic Growth

Chapter Quizzes and Assignment

Chapter 26: Business Cycles, Unemployment, and Inflation                

Chapter Quizzes and Assignment


Chapter 27: Basic Macroeconomic Relationships                

Chapter Quizzes and Assignment

Chapter 28: The Aggregate Expenditures Model

Chapter Quizzes and Assignment

Chapter 29: Aggregate Demand and Aggregate Supply

Chapter Quizzes and Assignment


Chapter 30: Fiscal Policy, Deficits, and Debt

Chapter Quizzes and Assignment

Chapter 31: Money and Banking

Chapter Quizzes and Assignment


Chapter 32: Money Creation

Chapter Quizzes and Assignment

Chapter 33: Interest Rates and Monetary Policy

Chapter Quizzes and Assignment


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 Students are expected to read assignments, answer objectives, use on-line resources, participate in on-line chat discussions and complete other learning activities assigned by the instructor in order to achieve course objectives. A calendar will be provided to the student learner. Quizzes, exams and assignments will be made available for selective release to the student learner at specific times and for limited durations. Students who fail to observe course time constraints will be penalized. Under special circumstances, make-up opportunities will be given.
Determination of Final Grade DETERMINATION OF FINAL GRADE:



Quizzes 35%


5% Exam II 5% Exam III 5% ExamIV

5% Exam V5% ExamVI


Each student will have the opportunity to earn 3% of extra credit, which can be used to supplement their total possible score. Extra credit projects and activities will be assigned throughout the semester.

Final Exam Date May 18, 2011 - 12:00 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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