Dr. Edward Scahill
Office: O'Hara Hall 408E
Office Hours:
Phone: 941-4187
E-mail: EMS353@Tiger.uofs.edu
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EVALUATION & GRADING
The requirements for this course include:
1. Three multiple choice examinations that will test your understanding of economic concepts described in your text and the Economics U$A video tapes that accompany the text. The average score you receive on all examinations will be converted into a letter grade equivalent and count for 1/4 of the grade for the course. If, for example, you have an average grade of 90 percent or better (90 or more correct responses on all exams) this would be equivalent to an A grade for this course requirement. The correspondence between exam grades and letter grades is given below.
2. A written assignment and presentation on a topic chosen from the list provided elsewhere in the syllabus. Students will work in groups. An in class presentation is required as well as a written summary (typed, double spaced - at least five pages) of the presentation. In addition, each group will be required to submit three multiple choice questions based on the group presentation. Each student will be given a grade for the presentation and a grade for the written summary. Each grade is worth 1/4 of the final grade. (Note: this means that the fate of each student is a product of the work of others! There is an incentive for all group members to oversee the written summary!)
3. A final examination that will consist solely of questions submitted as part of the group assignments. (Answers to the multiple choice questions must be accompanied by a brief explanation.) The final examination is worth 1/4 of the final course grade.
Numerical Letter Grade Exam Grade Equivalent 90 and above A 88-89.9 A- 85-87.9 B+ 80-84.9 B 78-79.9 B- 75-77.9 C+ 70-74.9 C 68-69.9 C- 65-67.9 D+ 55-64.9 D UNDER 55 F
ATTENDANCE POLICY
Attendance will be taken for this course. Beginning with the second absence, final course grades will be reduced one-half letter grade for each absence. For example, two missed classes will result in a reduction of an A- grade to a B+ or a B+ to a B.
TEXT CHAPTERS/VIDEO TITLES*
Chapter 1 What is Economics? Chapter 2 Markets and Prices Chapter 15 The Business Firm: Organization, Motivation, & ` Optimal Input Decisions Chapter 3 National Income and Product Chapter 4 Business Fluctuations and Unemployment Chapter 7 Inflation Chapter 8 Money and the Banking System Chapter 9 The Federal Reserve and Monetary Policy * Chapter titles will be covered in the sequence listed, but note that the special nature of this course - it is not a traditional principles of economics course - will cause class lectures to veer from the text significantly, and additional material will be covered in class that will not be featured in the text. Additional chapters may be assigned if time permits. The number of chapters covered will depend on the progress made during the semester. Viewing of the video tapes may be done in the Weinberg Library. (These tapes may not be checked out.)
WRITTEN ASSIGNMENT/IN CLASS PRESENTATION
Each student must participate in a group project based on one of the topics listed below. Some reference materials are listed. Once groups have been formed and topics assigned meetings with the instructor should be arranged for the purpose of the discussing the format of the assignment. Each group will be responsible for the allocation of tasks; e.g., research, in class presentation and writing a summary of the presentation and multiple test questions. Presentations will not be scheduled prior to October. Additional resources will be assigned by the instructor during the group meetings. Presentations should include an activity (or activities) that illustrates the economic concepts relevant to the topic.
1. The True Wealth of Nations
Hawthorne, N., "The Golden Touch," in Stories for Seven-Year-Olds, Sara and Stephen Corrin (ed.). Winchester, MA: Faber and Faber, 1989, p. 175-188.
Ryan, E., "Mercantilism," chapter 2 in In the Words of Adam Smith. Sun Lakes, AZ.: Thomas Horton and Daughters. 1992. Chapter 2.
2. The Economics of Recycling
Tierney, John., "Recycling is Garbage," New York Times Magazine. June 30, 1996. pp.24-29.
3. The Economics of Voting: Rational Ignorance & the Special Interest Effect
4. The Lorax: How Dr. Seuss got it wrong! - Scarce Resources and Rationing Dr. Seuss, The Lorax. New York: Random House. 1971. (Also on video)
5. Real Values vs. Nominal Values
Twain, M. "Sixth Century Political Economy," in A Connecticut Yankee in King Arthur's Court. Reprinted in The Unabridged Mark Twain, Lawrence Teacher (ed.). Philadelphia: Running Press, 1976, p. 1124-1132.
6. The Economics of Contraband/Should Street Drugs Be Legalized?
"The Economics of Contraband." The Senior Economist. vol. 4 no. 2. Spring 1989. Joint Council on Economic Education.
7. The Economics of Marriage
"The Economics of Love." The Senior Economist. vol. 9 no. 3 February 1994. National Council on Economic Education. 8. Economic Analysis and Ethics: How Should Kidneys Be Rationed?
VIDEO MATERIALS
The following are available for use by teachers at various grade levels. Depending on student interest and course progress, video programs from this list may be shown in class and may be part of the in class demonstration of an economic education activity. Consult the instructor for more information. Please note that teachers may borrow video tapes and other teaching materials from the Center for Economic Education (CEE) at the University of Scranton. Some of these materials are available through Intermediate Units &/or may be obtained at little or no cost.
Econ & Me Trade-offs Give and Take Chickenomics Speaking About Economics Understanding TaxesClick here to link to Woodrow the Web page of the Minneapolis Federal Reserve Bank.
Click here to link to an Economics Education Web site.
For those who wish information about
1. Econ and Me
Econ and Me is a five part video series that introduces students from seven to ten years old to five important economic concepts: scarcity, opportunity cost, consumption, production, and interdependence. The Teacher's Guide that accompanies the series includes forty four activities - with handouts - that can be used to teach students to understand the concepts.
2. NCEE Teaching Materials
The National Council on Economic Education publishes a series of teaching materials that are geared toward various grade levels and subject areas. The focus of each of the guides is on the presentation of teaching activities that have been developed by and for teachers. Among the guides available from the Center for Economic Education at the University of Scranton are:
From A Framework for Teaching the Basic Concepts FUNDAMENTAL ECONOMIC CONCEPTS 1. Scarcity 2. Opportunity Cost and Trade-offs 3. Productivity 4. Economic Systems 5. Economic Institutions and Incentives 6. Exchange, Money and Interdependence MICROECONOMIC CONCEPTS 7. Markets and Prices 8. Supply and Demand 9. Competition and Market Structure 10. Income Distribution 11. The Role of Government MACROECONOMIC CONCEPTS 12. Gross National (Domestic) Product 13. Unemployment 14. Inflation and Deflation INTERNATIONAL CONCEPTS AND METHODS 15. Absolute and Comparative Advantage and Barriers to Trade MEASUREMENT CONCEPTS AND METHODS Tables Charts and Graphs Ratios and Percentages Percentage Changes Index Numbers Real vs. Nominal Values Averages and Distributions Around the Average
Student Objectives for in a Course in Economics