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Complete the Mandatory Orientation (& sign up on Remind) by January 17thst
The purpose of this course is to familiarize you with the generally accepted principles of macroeconomics. Though ultimately based on the actions of individual households and business firms, macroeconomics deals with aggregates--i.e., consumers as a whole, producers as a whole, exporters and importers as a whole, the effects of government spending and taxation, and the monetary policy of the central bank. Macroeconomics is concerned with such things as unemployment, inflation, and the business cycle.
Hello and Welcome
Hello and Welcome
Your Instructor --- Dr. D.
(Iris Diamond, PhD)
Your Instructor --- Dr. D.
(Iris Diamond, PhD)
- Class on Tuesdays and Thursdays 12.00-1.20 PM in RGC10.Rm TBD
I will be available for office hours from 1.30 to 2 PM in room 1333 and to a very limited extent before class.
Or meet by appointment during other days ( mostly on Zoom)
- Best Contact:
Communicate with me by Email - iris.diamond@austincc.edu
Please add Subject: Global Macro Section 39 (if applicable, at least include class time if you don't know the section number)
Expect a reply within 24 hours Monday to Saturday - most of the time sooner
If you do not hear back assume your message was lost. Follow up!
Warning: I do not check my ACC phone messages.
REMIND messages (send them at any time, 24/7) It's the fastest way to get a hold of me on my phone.
Note: My phone is unsuitable to research answers that require a computer (i.e. using MEL or BB to answer specific questions). Please send those questions to my email, but if urgent also alert me by REMIND to check my email asap. I often only check email only in the evenings otherwise.
The Big Picture What This Course Is About
Course Description & Rationale
Course Description & Rationale
The purpose of this course is to familiarize you with the generally accepted principles of macroeconomics. Economic analysis is based on the actions of individual households and business firms, and macroeconomics deals with its aggregates--i.e., consumers as a whole, producers as a whole, exporters and importers as a whole, the effects of government spending and taxation, and the monetary policy of the central bank. Macroeconomics is concerned with such things as unemployment, inflation, and the business cycle.
This insight into the dynamics of our national economy can help you to become a better-informed citizen, allowing you to follow the debates over national economic policy in the news, and make research-backed decisions if you become active in politics yourself. This course is also a foundation course that will prepare you to be successful in upper-division finance, marketing, business administration, economics, government, and social work courses.
Common Course Objectives/Student Outcomes as established by the economics department:
Common Course Objectives/Student Outcomes as established by the economics department:
Students who complete this course will be able to:
critically evaluate GDP, unemployment, and inflation data;
explain the business cycle and its phases
manipulate the basic Aggregate Supply, Aggregate Demand model of the macroeconomy;
explain fiscal policy tools and defend and criticize the usage fiscal policy;
describe how a fractional reserve banking system works;
explain monetary policy tools and defend and criticize the usage of monetary policy.
Discipline Program Student Learning Outcomes
Discipline Program Student Learning Outcomes
PSLO 1: Socially Optimal and Suboptimal Outcomes- Model and explain under what circumstances markets are capable of creating socially optimal and socially suboptimal outcomes.
PSLO 2: Economic Policy -Defend and criticize the role of economic policy in a mixed market economy.
PSLO 3: Economic Data -Critically evaluate economic data.
Global Studies Student Learning Outcomes
Global Studies Student Learning Outcomes
PSLO 2 Interdependence: Identify the interrelated nature of the actions and impacts of individuals, groups, and institutions at the local, regional, national, and global levels.
PSLO 3 Globalization: Analyze the interrelated impact of global structures (such as social, cultural, religious, environmental, political, and/or economic) on aspects of nations, regions, communities, and individuals.
General Education Competencies
General Education Competencies
Civic and Cultural Awareness - Analyzing and critiquing competing perspectives in a democratic society; comparing, contrasting, and interpreting differences and commonalities among peoples, ideas, aesthetic traditions, and cultural practices.
Critical Thinking - Gathering, analyzing, synthesizing, evaluating and applying information.
Quantitative and Empirical Reasoning - Applying mathematical, logical and scientific principles and methods.
Written, Oral and Visual Communication - Communicating effectively, adapting to purpose, structure, audience, and medium.
Let Learning Objectives help you
Let Learning Objectives help you
Exams in this course are based on learning objectives that you can find by clicking HERE. Before you read the corresponding chapter in the textbook, take a few minutes to read these objectives carefully. ATTENTION: These Learning Objectives are exactly correlated with the questions on the exams and are more detailed than the ones found on the first page of every chapter in the textbook under "Learning Objectives". Bookmark these detailed Learning Objectives now.
In general, after studying each chapter, you should be able to:
Answer questions about the topics from that chapter the exam will cover. (See Learning Objectives)
Define all the key terms introduced in the chapter and review the "what you should know" section at the end of the chapter.
Apply your knowledge and Practice Practice Practice
(blue is required, in black is optional)
Successfully complete the Homework Assignment over the chapter in MEL (MyEconLab).
Earn Mastery over all sections (or just the difficult ones) in the STUDY PLAN section of MEL.
Answer questions in the Sample Tests in MEL.
Take the Quiz over the chapter assigned in MyEonLab by your instructor.
During steps 1-4 add info to your cheat sheet (crib sheet) for the UNIT exam.
After you completed steps 1 to 4 for four chapters in MEL, take the UNIT EXAM on BB (BlackBoard).
The learning objectives are there to help you focus your mind on the important concepts and theories discussed in the unit. Then, most importantly practice (see 1 to 5) and apply the concepts. Starting with Learning Objectives will help you efficiently allocate your mental energies from the top down, and hopefully avoid getting lost in some details of the chapter, while not leaving you time to understand the big picture..
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