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Introductory Economics DAVIDSON COLLEGE
Office Hours: TBA and by appointment. Required Text: Principles of Economics, by Ben Bernanke and Robert H. Frank. McGraw-Hill, 2001. This course examines the role of economic systems in allocating scarce resources to satisfy the needs and wants of individual members of a society. We'll accomplish this by applying economic principles to the world around us. In the microeconomic component of the course, primary emphasis is placed upon the development of models that explain the behavior of consumers and producers. Market structures and the appropriate role of the government will also be addressed. The macroeconomic component of the course presents the aggregate view of the capitalist economy and explores the manner in which the overall levels of national income, employment, and inflation are determined in the economy. The focus is on the forces that act to shape these factors. The role of government in influencing the level of economic activity is also addressed. (There are no prerequisites for this course.) Course Requirements: You are responsible for the material covered in lectures and all required reading. Grading Procedure:
Quizzes: Five quizzes will be given throughout the semester. The in-class quizzes will begin promptly at 10:00 AM. They are typically limited to 15 minutes. If you are late, it is to your detriment. No make-up quizzes will be given. The lowest quiz grade will be dropped. Reviews: Any valid excuse for missing a review must be approved by me prior to the review. An approved excuse will result in either a make-up review or a re-weighting of subsequent reviews. (The final examination must be taken.) Homework Assignments: Each student is required to purchase a spiral notebook to be used exclusively for problem solving. Problems may be assigned from a lecture in class, from the book, e-mailed, or handed out in class. These problems must be sequentially numbered throughout the course. It is the responsibility of the student to keep up with the various assignments and to bring their problem-set notebook to each class. The notebooks will be collected, at random at least twice during the semester. Two grades will be given at the time that the notebooks are collected. First, the assignment to be completed that day will be graded. (The effort evident in the work shown will determine this grade.) Then, a 'notebook' grade, for the work done since your notebook was last collected, will be given. Effort and correctness will be important grading criteria. All notebooks will be collected for grading on December 5th. Short Papers: Two separate groups of readings--which will be placed on Reserve in Little Library--are those upon which your 'short papers' should be based. Base each paper upon one of the articles in each of the relevant groups. Your composition should address each of the questions posed at the end of the articles. Also, a distinct introduction and conclusion should be included. This is not a research paper - no outside sources are needed. What is needed is a clear, concisely written analysis of the major economic issues addressed in each of the articles. Discussing the various economic issues involved in the articles necessitates the use of the tools we will be learning in class. Applying those tools is an effective way to gain a solid understanding of them. In all cases, a complete essay will need to address questions for which there are not necessarily 'right' answers, the strength and logical consistency of your argument are key in such instances. The goal of the assignment is multifaceted; to learn to identify economic theory in everyday situations, to apply the tools you are learning in class, and to refine your writing skills.
Specifications: Maximum of 3 double-spaced pages (exclusive of graphs which may included at the end). Honor Code: The following statement is the official Honor Pledge of Davidson College as quoted from the Redbook (http://www.davidson.edu/student/redbook/honorgeneral.html): "On my honor I have neither given nor received unauthorized information regarding this work, I have followed and will continue to observe all regulations regarding it, and I am unaware of any violation of the Honor Code by others." Strict compliance to the College's academic honesty and integrity policies will be adhered to throughout this course. It is the student's responsibility to know what 'unauthorized information' is with regard to any assignment. Absences: It is expected that each student will make a concerted effort to attend all classes. (Planned absences for athletic and other college-sponsored extracurricular activities should be discussed with me prior to the activity. ) Reviews will be based upon material presented in class, which will include subjects and examples not covered in the text. It is the responsibility of the student to keep abreast of announcements made in a missed class, and to obtain the class notes from a fellow student. General Resources: Aaron Houck is the Teaching Assistant for this course. Aaron will review answers to the homework problems, quizzes and exams during an additional class hour per week. Meetings will be scheduled during the evening, once per week. (Within the first week of class, a recurrent, weekly meeting time for these sessions will be determined.) While these sessions are not required, you are strongly encouraged to take advantage of this resource by preparing for, and attending, each of the classes. The Economics Center. Tutoring is available four evenings a week in the Economics Center (Chambers 228). The Center is manned by students. Appointments are not necessary. The specific hours will be posted outside of the Center. If you're looking for specific information about the economy or web sites that you'll find increasingly attractive as the semester goes on (I'm optimistic!), check out the following Departmental web page: http://www.davidson.edu/academic/economics/website/econweb.htm Important things to note regarding the proposed course outline that follows:
Remember, the attached outline will change over the course of the semester. It is your responsibility to keep up with any changes made to the course syllabus. Introduction to Economics Course Syllabus
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