ECONOMICS FOUNDATIONS (ECON 200)

ECONOMICS FOUNDATIONS (ECON 200)
Buena Vista University, Spring 2014
Instructor: Jeremy Horpedahl
Office Phone: 712-749-2422
Email: [email protected]
Cell Phone: 605-670-0576
Office Hours: Monday – Thursday, 11:00am – Noon and by appointment
Academic Assistants: Tanner Truesdell (Office Hours: 8:30-10:30am, Tuesday and Thursday)
Ashley Mendenhall (Office Hours: 6-8pm, Monday and Thursday)
COURSE DESCRIPTION
This course introduces students to the discipline of economics and the economic way of thinking.
It covers the broad areas traditionally known as microeconomics and macroeconomics, but the
focus is on understanding the market process and how economics can help us to make sense of the
world. Students will learn microeconomic topics such as how individuals, households, and firms
make decisions, as well as how those widely varied decisions are coordinated. Students will also
learn macroeconomic topics such as how national income, unemployment, and inflation are
determined, as well as how the material prosperity of societies varies around the world and across
time.
This course addresses BVU Objective #4: Students will be able to integrate theory and practice.
PREREQUISITE
Math Foundation must be completed, which means you must have passed one of the following:
MATH 124, 130, 140, 143, or 145 (see page 8 of the Academic Catalog for details).
READINGS
There is one required textbook for the course: Modern Principles of Economics by Tyler Cowen
and Alex Tabarrok. All the required readings will be found in this book, unless otherwise
announced in class. We are using the 2nd edition, though the 1st edition is not dramatically different.
ONLINE RESOURCES
Sapling Learning – You are required to purchase a subscription to Sapling Learning for this
course. We will use this website for homework and quizzes. Go to SaplingLearning.com, click on
US Higher Ed, and create an account. You should be able to find this course once you indicate
you are at BVU.
Angel – We will use Angel as the official site for posting grades. Check here to see how you are
doing in the course. Links to relevant assignments will also be posted under Course Content.
NPR Planet Money – Each lecture will have a Planet Money podcast paired with it. The best way
to find these podcasts is to simply use Google to search for “Planet Money ###.” You may also
want to keep up with their blog as a studying resource.
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RESOURCES FOR STUDYING
Khan Academy: Microeconomics and Macroeconomics – short instructional videos on most of the
topics covered in class, this website is also useful if you need to brush up on your math skills
Liberty Academy: The Economic Way of Thinking – videos and short quizzes for core economic
concepts (you may want to create a login to track your progress)
Ten Key Ideas: Opening the Door to the Economic Way of Thinking – list of readings related to
the core concepts in this course
Marginal Revolution – a blog run by the authors of our textbook. Not really for “studying” per se,
but it will get you into the heads of the authors and get you into the habit of following current
economic news and research.
GRADES
The grading scale for the course is:
≥ 92%
A
≥ 82%
B
≥ 72%
C
≥ 62%
D
≥ 90%
≥ 80%
≥ 70%
≥ 60%
A–
B–
C–
D–
≥ 88%
≥ 78%
≥ 68%
< 60%
B+
C+
D+
F
Late assignments incur a penalty of 10% plus an additional 2% for each 24-hour period.
Examinations (60%): There will be three examinations, based primarily on material covered in
lectures, as well as the assigned readings. Only the final exam is cumulative. Makeup exams are
only given for extreme, unforeseeable circumstances such as medical or family emergencies.
Quizzes (15%): For each class period, there will be a quiz on Sapling that corresponds to the
readings for that day. You are required to complete the quiz before class begins.
Homework (15%): Each class period will also have an associated homework assignment on
Sapling. Homework assignments will be due after the lecture has been completed, and the due
dates will be clearly indicated on each assignment.
Podcasts (10%): Episodes from NPR’s Planet Money podcast have been selected to complement
the readings and lectures. Students are expected to complete a notecard (at least 3” x 5”) for each
episode as specified in the How to Fill Out a Notecard document. Due dates are included on the
attached Course Outline. Notecards must be submitted at the beginning of class on the due date.
Late notecards will not be accepted under any circumstances. A notecard may be completed early.
Failure to complete a notecard on time results in no credit for the assignment. Note: some dates
have more than one episode listed, and you should listen to all episodes listed under each date.
The exception is when there is a star (*) next to the number, in which case you may choose one
podcast for that day.
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ADDITIONAL OPPORTUNITIES FOR POINTS
Out-of-Class Reading Group (5 percentage points on final grade): An out-of-class reading group
will meet roughly 5 times during the semester for 2 hours each time. The days and times will be
chosen in the future, based on what best suits the instructor and participating students. Full details
will be posted on Angel and announced in class.
NOTICES
Academic Honesty: As stated in the Academic Catalog, “Buena Vista University believes that
personal integrity and academic honesty are fundamental to scholarship. … Any attempt to cheat,
misrepresent someone else’s work as one’s own, receive credit for work one did not do, obtain an
unfair advantage over other students, or aid another student to do the above will be considered a
breach of academic integrity.” This statement is taken seriously in this class. You are encouraged to
read the academic honesty policy in the Academic Handbook (pages 21-23,
http://www.bvu.edu/academics/catalog/), though most of this is common sense to a responsible
adult such as yourself. Violations result in a failing grade for the course. Plagiarism is more obvious
and easier to detect than you think.
All assignments are covered by the academic honesty policy, including homework assignments.
Disability Accommodations: BVU complies with Section 504 granting accommodations for
students with disabilities who have appropriate documentation. If you have a disability, contact the
Director of the Center for Academic Excellence for assistance or to fill out paperwork requesting
accommodations. Also, please see me in private within the first week of class.
Laptop and iPad Policy: Laptops and iPads should not be used during class, expect when we are
explicitly using them for classroom activities. The professor will make it clear when use is allowed.
Otherwise, these devices should be turned off and closed.
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COURSE OUTLINE
Date
January 30
February 4
6
11
13
18
March
Textbook
Chapters
1
2
3
4&5
6
7&8
Podcast
#
Podcast Title
Topic
Big Ideas
Trade and Comparative Advantage
Supply and Demand
Equilibrium and Elasticity
Taxes and Subsidies
Price System, Ceilings and Floors
20 9
25 10
International Trade
Externalities
27 11
4 12
6 13 & 14
Competition
Invisible Hand
Monopoly and Price Discrimination
357
508
438*
265*
Where The Planet Money T-Shirt Began
Why A Dead Shark Costs $12 Million
An Economist Gets Stoned
The No-Brainer Economic Platform
How Fear Turned a Surplus into a Shortage
Demand for Ammunition is Up. Why Aren't Prices?
The Lollipop War
The One-Page Plan To Fix Global Warming
What A 16th Century Guild Teaches Us About
Competition
A Bet on the Future of Humanity
Mavericks, Monopolies And Beer
Groupon! Monty Python! Price Discrimination!
11 review
13 EXAM #1
18 15 & 16
Cartels, Oligopolies, and Network Goods
478*
326*
427
Rocky Pipkin, Private Eye Vs. The Raisin Outlaw
Why Does A Taxi Medallion Cost $1 Million?
LeBron James Is Underpaid
433
435
480
464
156
337
Holding A Rainforest Hostage? (Update)
Why Buying A Car Is So Awful
The Charity That Just Gives People Money
When A Poor Country Gets A Lot Richer*
Why GDP Matters For Schoolkids
The Secret Document That Transformed China
20 17
NO CLASS - Spring
25 & 27 Break
April
1 18
3 19 & 20
8 24
10 25
496
189
146
387
320
n/a
454
472
Labor Markets
Public Goods
Political Economy, Ethics, and Public Policy
GDP and the Measurement of Human Progress
The Wealth of Nations and Economic Growth
4
April
May
15
17
22
24
29
26 & 27
28
29
review
EXAM #2
NO CLASS 1 Buenafication Day
6 30 & 31
8 32 & 33
13 34 & 35
15 review
Solow Model and the Financial System
Unemployment
Inflation
415
446
216
Can A Poor Country Start Over?
The Invisible 14 Million
How Four Drinking Buddies Saved Brazil
Business Fluctuations
The Federal Reserve and Monetary Policy
398
450*
235*
202
Obama, Ryan And Two Dead Economists
Bitcoin Goes to the Moon
A Giant Stone Coin at the Bottom of the Sea
The Great Stimulus Experiment
Taxes, Spending, and Fiscal Policy
Final Examination is Wednesday, May 21st, 2014 at 2:45pm.
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