COURSE SYLLABUS

ECON 1010:  SURVEY OF ECONOMICS

3 CREDIT HOURS

 

 

 

INSTRUCTOR:  Ali Hekmat, Ph.D.

                                 Office: CBB 240

                                 Office Phone: 613-5218

                                 Email: ali.hekmat@ceu.edu

 

 

REQUIRED TEXTBOOK:

Survey of Economics, Irvin Tucker, 3rd Edition 2004, South-Western Publishing.

 

OPTIONAL MATERIALS:  

Study guide for the above textbook, The Wall Street Journal, The Salt Lake Tribune, Newsweek, Economics Journals, Utah Economics and Business Review, the Internet, and websites such as www.bls.gov

 

LIBRARY REFERENCES:

An important part of college training takes place in the library.  Numerous library books are available dealing with the various economic topics.

 

COURSE DESCRIPTION:

This course overviews both microeconomics and macroeconomics for students planning no further formal study of business and/or economics.  Analysis of resource allocation, supply and demand, price determination under competitive and monopolistic conditions. It also analyzes factors influencing aggregate levels of output, employment, and prices, introduction to U.S. fiscal and monetary policy, international trade and international monetary systems.

 

COURSE REQUIREMENTS AND GRADING:

There will be four exams, four homework assignments, and eight short reports on current economic issues. Class time will be primarily lecture and discussion. 

 

GRADING:

Exams                                     60%                       

HW                                         20%       

Online Exercises-reports     20%       

Extra credit: Up to 20 extra points will be given for attendance and in class participation.

Grade percentages are as follow:

95-100%=A           90-94%=A-

87-89%=B+            84-86%=B              80-83%=B-

77-79%=C+            74-76%=C              70-73%=C-

67-69%=D+           64-66%=D              60-63%=D-

below 60%=E

 

NOTES: 

-No early or late exams will be given.  However, arrangements can be made to take an exam one or two days prior to or immediately after the scheduled day of the exam in the case of an emergency. Failure to make prior arrangements to reschedule the examination will deny the student the right to a make-up exam. The make-up exam will be harder and is counted as only 85% of the examination.

-Late homework and report policy: Not handing homework and reports in class time will lose 5 points.

-Not everything in the textbook will be covered in class, nor will everything discussed in class be in the

assigned textbook.

-All exams are multiple choices, so please bring scantron and pencils with you.

 

 

COURSE OUTLINE AND EXAM SCHEDULE (SUBJECT TO CHANGE):

 

TOPICS                                                                                                CHAPTER               STUDY QUESTIONS

 

PART I.  INTRODUCTION TO ECONOMICS                                               

 

Introducing the Economic Way of Thinking                                   1                              #4,8,10,12

 

Production Possibilities and Opportunity Costs                            2                              #2,6,8,12

 

PART II.  THE MICROECONOMY

 

Supply and Demand Analysis                                                           3                              #2,4,6,8,10

 

Markets in Action                                                                                4                              #2,4,6,10

 

Price Elasticity of Demand                                                  5                              #2,6,8,10

 

Exam 1, Chapters 1-5                                                        

 

Production Costs                                                                                 6                              #2,4,6,8

 

Perfect Competition                                                                             7                              #2,4,6,12

 

Monopoly                                                                                             8                              #2,4,8,10

 

Monopolistic Competition and Oligopoly                                       9                              #4,6,8,10

 

Labor Market and Income Distribution                                            10                            #2,8,10

 

Exam 2, Chapters 6-10

 

PART III.  THE MACROECONOMY AND FISCAL POLICY

 

Gross National Product                                                                       11                            #2,4,8,12

 

Business Cycles and Unemployment                                               12                            #4,6,8

 

Inflation                                                                                                 13                            #2,4,6,8

 

Aggregate Demand and Aggregate Supply                                    14                            #2,4,8

 

Fiscal Policy                                                                                          15                            #2,4,6,8

 

Exam 3, Chapters 11-15

 

The Public Sector                                                                                 16                            #2,4,6,8

 

The Federal Deficits, Surpluses, and the National Debt                17                            #4,6,8,10

 

PART IV.  MONEY, BANKING, AND MONETARY POLCY

 

Money and the Federal Reserve System                                         18                            #4,6,8

 

Money Creation                                                                                   19                            #2,8,10

 

Monetary Policy                                                                                  20                            #2,4,10,12

 

International Trade and Finance                                                       21                            #2,4,8,10

 

Economies in Transition                                                                     22                            #2,6,8

 

Exam 4, Chapters 16-22