This course is intended to provide a working knowledge of
Exams and Grading: The course grade will be based exclusively on your performance on the exams. Do not ask for exceptions in the form of points for attendance, participation, special projects, or other favorites when you realize that you did not study enough. There will be four exams. Of these four exams, the mid-term and the final will be comprehensive exams that cover all course material up to the point of the exam. The comprehensive exams will override all previous exam grades if your performance on the comprehensive exams has improved compared to before. If your performance on the comprehensive exams is worse than your previous standing, they will count only a quarter each toward your final grade.
Here are some examples to clarify the grading process. Example 1: assume your performance on the four exams is 81%, 60% (midterm), 72%, and 64% (final); your midterm does not override the first exam because it is worse; the final is worse than your standing after three exams [(81 + 60 + 72)/3 = 71]; therefore, your final percentage is derived as (81 + 60 + 72 + 64)/4 = 69.25. Example 2: your exams are 75%, 82% (midterm), 66%, and 80% (final); your midterm overrides your first exam; after the third exam your standing is (82 + 82 + 66)/3 = 76.67; your final exam is better than that; hence, your final grade will be based only on your final exam result. Example 3: your exams are the same as those for example 2, except that you received only 70% on the final; your final exam is worse than your standing after three exams; therefore, your final grade will be based on the following percentage: (82 + 82 + 66 + 70)/4 = 75. Example 4: same as example 2, except you missed exams 2 and 3; your grade will be based only on the final as it overrides exam 1. Example 4: same as example 1, except that you missed the final; your final percentage for your course grade is derived as (81 + 60 + 72 + 0)/4 = 53.25. Example 5: same as example 1, except that you missed all exams other than the first one; your grade will be based on the following calculations: (81 + 0 + 0 + 0)/4 = 20.25.
Here are the dates of the exams: Exam 1 - September 23; Exam 2 (midterm) - October 21; Exam 3 - November 18; Exam 4 (final) - December 16 (12:30 - 2:30 p.m.). The exams will start at the beginning of the class or of the scheduled exam period. There will be no class after the exams. If you are late to any exam, you will not receive extra time to complete the exam.You will need to be ready to show proof of identity during each of the exams: have your student ID card readily available for a check.
Each of the exams may consist of multiple choice and questions which require brief answers in the form of calculations, graphs, or a few written sentences. What cannot be read, will not count; therefore, write legibly! The questions closely reflect what we do in class, but they may also refer to assigned material. Bring answer sheet B to each exam as well as two blank sheets of paper with your name on top. Note that no electronic devices of any type are allowed during exams! This includes calculators but is not limited to them. All books, notebooks, or other material that can potentially be associated with a cheating attempt need to be removed from your desktop and stowed during the exam. All baseball or similar caps need to be removed for the duration of the exam. The same applies to sunglasses. Make sure there is sufficient space between you and your neighbors during the exam. Fully utilize the classroom space. Cheating on an exam will lead to a zero percentage on that exam plus a reporting of the offense to the university's administration. No exceptions.
Grading will be based on letter grades with pluses and minuses. Exam questions tend to be challenging. This has two consequences: first, make sure you study the material for more than a couple of hours the night before the exam because vague recollection from class, having a rough idea of the material, or just plain common sense will definitely not suffice to identify the correct answers. Second, grading will be based on a curve. To give you a rough idea: 80 percent will typically suffice for an A, 65 for a B, 50 for a C, and 35 for a D-. Plus and minus grades are interpolated from these benchmarks.
Class attendance and behavior: Class material will not be repeated to those skipping class during office hours or in subsequent classes! It is your duty to come to class, every time! If you cannot possibly attend, you will need to assign somebody else to take notes for you. Do not call or send emails asking such questions as "Are you going to talk about something important during next class?" or "What are you covering next class?" or "What have you covered last class?" It is your responsibility not anybody else's to keep up with what is going on in this course. NOTE: There is no need to notify me if you cannot attend a class or an exam! If you choose to come to class, turn off all electronic listening and viewing devices during class, including but not limited to cell phones and MP3 players. Calculators and laptops are allowed. However, the latter must not be used for entertainment purposes or email checking. If you feel a strong urge for entertainment, communicating with friends outside of class, or sleeping, do not come to class! You will learn nothing while being a nuisance to those attending class with the idea of learning something. If you think you cannot abide by these simple rules of behavior, I strongly urge you to enroll in a different class, preferably an on-line class. Finally, if you think you may not have sufficient time for this course, drop it now, and choose an alternative less time consuming course!
Textbook and ancillary material: Classes will not follow a particular textbook. Instead of studying a textbook you will need to read up on the topics covered in class by going to the recommended web sites. The starting place for most topics will be the cyber-economics material provided by Prof. Schenk. Your next stop should be an older but very useful set of course web pages provided by Dr. Jay Kaplan. Other on-line textbooks also exist and may be of interest. If you want to get some deeper insight into macroeconomics, you may want to download the course material for principles of macroeconomics from the undergraduate MIT Open Courseware webpage.
Specific class topics are available from the D2L content page. Class material, such as powerpoint slides or Excel files, or suggested readings can be accessed from associated D2L web pages. These will be updated as the course proceeds.
As you go through this course, you will find it very helpful for your understanding of economics and the world around you to keep up with economically relevant facts and events. This will be significantly easier if you get into the habit of checking, on a regular basis, the on-line material published by the following sites:
Office hours: Mo 12:00 through 2:15, We 3:45 through 6:00, by E-mail or by appointment. If you have any questions, make sure you first contact me by email or through D2L.
Special Note to Students with Diability: Students with a disability that may require assistance or accommodation, or with questions related to any accommodations for testing, note takers, readers, etc., should contact the instructor as soon as possible. Students may also contact the Office of Disabled Students Services (898-2783) with questions about such services.
Tennessee Lottery Scholarship: To retain Tennessee Education Lottery Scholarship eligibility, you must earn a cumulative TELS GPA of 2.75 after 24 attempted hours and a cumulative TELS GPA of 3.0 thereafter. A grade of C, D, F, or I in this class may negatively impact TELS eligibility. Dropping a class after 14 days may also impact eligibility. If you withdraw from this class and it results in an enrollment status of less than full time, you may lose eligibility for your lottery scholarship. For additional lottery scholarship rules please refer to your Lottery Statement of Understanding form, contact the MTSU financial aid office at 898-2830, or review lottery scholarship requirements on the Web at http://scholarships.web.mtsu.edu/telsconteligibility.htm.
1) Principles
2) Basics of Trade/Exchange
3) Demand and Supply
4) Application of Demand/Supply to the Foreign Currency Market
5) Measurement Issues
6) Economic Growth
Mid-term Exam (October 21)
7) Saving, Investment, and Financial Markets
9) Money and Inflation
10) Open Economy Issues
11) Aggregate Demand and Supply
12) Macroeconomic Policy Issues
Final Exam (December 16, 12:30 pm)
Detailed topics are provided on the D2L course content webpage.