William Rainey Harper College MACROECONOMICS ONLINE! MACROECONOMICS IN THE GLOBAL ECONOMY Fall 2008 ~/~ HOME ~/~ Syllabus ~/~ Schedule ~/~ Assignments ~/~ Lectures ~/~ Blackboard ~/~ Textbook Website ~/~

Welcome to ECO 212

Online! and BlendEd!

These webpages will be used by two sections of ECO 212, Macroeconomics.

Section 059 is a 100% online course. with one on-campus orientation on Tuesday, 8/26, 5:00-6:15, in room J-251.

Section 097 is a BlendEd course which has an online component and which also meets once a week on Thursdays from 10:50-12:05 in room J-253.

Students from the online section (section 059) are welcome to attend the BlendEd (section 097) classes on Thursdays.

Where do you start? At first the materials and structure of this course will seem confusing and maybe a bit overwhelming. This orientation will begin the process of learning to navigate through the course. Remember that you can always ask your instructor for help (mhealy@harpercollege.edu). For those students who missed the on-campus orientation, this web page contains the material that was discussed.

INSTRUCTOR / ROSTER

MATERIALS

Textbook and Study Guide: 

Macroeconomics by Campbell R. McConnell and Stanley L. Brue, 17th edition, McGraw-Hill, 2008   Study Guide to Accompany McConnell and Brue Macroeconomics by Walstad, McGraw-Hill, 2008   Textbooks can be bought at the Harper College bookstore (L building) or online at: http://www.harperstore.com

CLASS HOME PAGE: http://www.harpercollege.edu/mhealy/eco212i/home.htm

BLACKBOARD

• http://harper.blackboard.com/

   

• All students must log-in to our Blackboard site:
  • go to http://harper.blackboard.com
  • follow the instructions to "log-in",
    • See: How do I join my class?
    • And: What is my user name and password?
  • go to "courses" and
  • find "MACROECONOMICS! (ECO 212-059 and ECO 212-097 - Fall 2008 - Healy)".

    

  • CHANGE YOUR Blackboard E-MAIL ADDRESS: Be sure to:
    • enter your e-mail address when you enroll in Blackboard,
    OR
    • Click on "Course Tools", then "Personal Information", then "Edit Personal Information", and enter your correct e-mail address
    • by default blackboard enters your HARPER e-mail address. In order for you to receive email information from your instructor, you need to change this email address to one that you check regularly.

    

  • Blackboard site will contain:
    • WEEKLY ASSIGNMENTS
    • Discussion Board
    • Online Quizzes
    • Exams - taken online at the Harper Testing Center
    • Announcements
    • Grades

     

  • Blackboard help:
    • Blackboard help:
      • Blackboard Tutorials: http://www.harpercollege.edu/doit/dlinfo/Bb.shtml
      • Telephone, email, and face-to-face technical support
        • Telephone: 847.925.6866
        • Email: studentsd@harpercollege.edu
        • Student Service Desk

   

 OTHER:

• ECO 212-059 does NOT meet at Harper once a week and there is NO certain time that you must be online.

• ECO 212-097 DOES meet once a week on Thursdays from 10:50-12:05 in room J-253.

• Always put "ECO 212" and a message in the subject lines of e-mail messages sent to the me. To avoid viruses, I delete messages prior to reading them if I don't know who they are from.
  
• You are NOT on your own. Your instructor is available to provide assistance and answer questions:
  • The Blackboard Discussion Board for course CONTENT questions
  • E-mail for personal questions: mhealy@harpercollege.edu
  • Call me at
    • Home: 815-728-1571
    • Cell: 815-861-7265
    • Harper: 847-925-6352

 WHERE TO BEGIN YOUR STUDYING

• The Blackboard WEEKLY ASSIGNMENTS link will provide access to:
  • Chapter Survey Question
  • Online Lecture
  • Assignments

   

EXAMS:

• Exams for ECO 212-059 and ECO 212-097 will be taken at the Harper Testing Center sometime on, or before, the date it is scheduled (see Schedule ).
  • For the Testing Center location, hours, and phone number see: Assessment Center hours.
• BEFORE taking the exams, be sure to do the problems listed on the Assignments page. Use the Discussion Board to ask questions.

   

ASSIGNMENTS

• These are IMPORTANT.
• Always look here BEFORE beginning a new chapter. We do not always read the whole chapter and sometimes additional pages from another chapter are included.
• Few students pass the class without doing the assigned problems. DO THEM and use the Discussion Board if you have questions.
• The answers to the Study Guide questions are at the back of each chapter.
• I strongly urge you NOT to circle your answers to the multiple choice questions in the Study Guide
  • It is easier to grade your answers if they are written on a piece of paper
  • You will want to use some of the questions again as you study for the comprehensive final

   

MANY OF YOU WILL NOT COMPLETE THIS COURSE

• Distance learning courses tend to have a high drop rate. Many students who register for, and pay for, online classes never complete them. Harper gets your money and you get nothing. Up to half of you will not complete this course. If you cannot devote at least as much time or MORE to this course than you do to regular face-to-face college courses, drop now.
• College counselors suggest that you should spend 2 hours studying EACH WEEK for each course credit-hour. Since this is a 3 credit-hour online course you should spend around 9 hours EACH WEEK preparing (3 hours that you would normally be in class and 6 additional hours).
• If you decide not to finish the course and you do not officially withdraw by the drop date you will receive an "F" grade for the semester.
• For the last day to withdraw from course see the course schedule.

SYLLABUS
[Go to: http://www.harpercollege.edu/mhealy/eco212i/macsyli.htm]

BLACKBOARD
You may want to take a quick "tour" of the web pages that you will be visiting often this semester.

• Class Web Pages:
  • [Home]
  • [Orientation]
  • [Syllabus]
  • [Schedule]
  • [Discussion Board]
  • [Review]

• TEXTBOOKS

  • Macroeconomics by Campbell R. McConnell and Stanley L. Brue, 17th edition, McGraw-Hill, 2008   Study Guide to Accompany McConnell and Brue Macroeconomics by Walstad, McGraw-Hill, 2008   Textbooks can be bought at the Harper College bookstore (L building) or online at: http://www.harperstore.com

• Textbook Webpage:
  http://www.mcconnell17.com/
  • click on "Macroeconomics",
  • then click on "Online Learning Center - Student Edition" in lower left-hand corner

    

GETTING STARTED

• The BEST place to begin to organize your studying is the WEEKLY ASSIGNMENTS link on Blackboard which will guide you through all the course components week-by-week
  

ONLINE/BLENDED vs. FACE-TO-FACE

• You should think of these distance learning classes as similar to a normal face-to-face class. In both types of courses there is/are:
  • lectures
  • class discussions on the Discussion Board
  • textbook and study guide
  • assignments
  • exams and quizzes
  • an instructor
    • E-MAIL: mhealy@harpercollege.edu
    • Discussion Board
    • Harper: 847-925-6352
    • Home: 815-728-1571
    • Cell: 815-862-7265

 I. Introduction to Macroeconomics in the Global Economy

A. Why "the Global Economy"?

1. Who has taken a MICROeconomics course (ECO 211)?

2. no prerequisite for ECO 212

3. need to review of microeconomic principles

4 Therefore, we'll do so, but in an international context

B. The three issues of Macroeconomics

a. Unemployment (UE)
b. Inflation (IN)
c. Economic Growth (EG)

 C. Structural Adjustment and Globalization:

1. What is Structural Adjustment?

2. Structural Adjustment Policies

• Privatization
• Promotion of Competition
• Reduced Role of Government
• Removing Price Controls
• Freer Trade and Convertible Currency
• Foreign Investment
• Other

3. Goals of SAPs / Globalization / Economics

• Maximize society's satisfaction = improve the standard of living
  • Be sure to read the "5Es" lecture
• Macroeconomic Goals:
  • full employment
  • low inflation
  • economic growth

4. Problems with SAPs:

• initial inflation and unemployment
• initial falling output and living standards
• inequality and social costs - some people are worse off

We need to know basic economic principles to understand WHY the world is moving toward Structural Adjustment or Globalization.

D. Applications / Examples

1. Video: Korea vs. Sri Lanka

While watching the video look for answers to these questions:

a. What are they doing? (POLICIES)

b. Why are they doing it? (BENEFITS)

c. What negative effects might arise? (COSTS)

 

Available online at: Click on: http://www.learner.org/resources/series86.html Scroll down to: 10. Developing Countries - How these nations have been helped or hurt by the rapid growth since WWII. Case studies: comparing South Korea and Sri Lanka; aid vs. trade in Tanzania. Click on (A free registration is required for first time users) Then slide the timer to minute 7:45 for the eight minute South Korea vs. Sri Lanka case study

2. Iraqis Confront Mysteries of Capitalism

by Adam Davidson
Weekend Edition Sunday, February 5, 2006 · Just three years ago, Iraq had one of the most rigidly controlled economies in the world. Today Iraqis are struggling to understand an emerging capitalist system. Listen by clicking the link below.
http://www.npr.org/templates/story/story.php?storyId=5190405

3. Read: http://www.cnn.com/ALLPOLITICS/time/1999/12/06/free.trade.html

"The mystical power of free trade: Some people find it hard to believe it really works, but it does. " By Michael Kinsley

 

4. Some people oppose Structural Adjustment

WTO PROTESTS IN SEATTLE / CANCUN, Mexico

http://cnn.com/ALLPOLITICS/time/1999/11/22/seattle.battle.html
http://www.cnn.com/2003/WORLD/americas/09/11/cancun.wto/index.html

5. But most economists, political leaders and people (?) support SAPs

Why?

To answer this we need to:

• Understand the GOAL of Economics
• Learn the 5 Es of Economics

But this article will show you some of the results of SAPs:

Also read:

STRUCTURAL ADJUSTMENT IN AFRICA:
http://www.csmonitor.com/durable/1998/04/01/p7s1.htm