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Outcomes
As a result of successful completion of this course, the student will be able to:
- Use the basic concepts of economics
- Use critical thinking to analyze problems addressed by economics
- Recognize the domestic and global environmental variables relative to their impact on organizational decision making
- Understand the role of government in the economic system
- Understand the relationship between components of the economic system
- Understand the creation of value through the integrated production and distribution of goods, services and information as they relate to economic, financial and marketing theory and practice
Required Textbooks
Open Education Resource Provided by Instructor
Additional Materials/Resources
Provided by Instructor
Grading Criteria
A = 90-100;
B = 80-89;
C = 70-79;
D = 60-69;
Below 60 = F
Grading Scale
| 100-90 |
A |
| 89-80 |
B |
| 79-70 |
C |
| 69-60 |
D |
| 59-below |
F |
Assessments
Weights for each category
Exams 76%
Sapling Assignments 20%
Weekly Discussion Assignments 4%
Course Outline
Module 1: Introduction
Explanation of the economic way of thinking and the benefits of trade
By the end of this module you will be able to:
1. Describe the Ten Big Ideas in economics
2. Evaluate how trade improves the welfare of both low-productivity and high-productivity countries
Module 2: Basic price theory
Presentation of the supply and demand model as a framework for understanding how prices are determined and the roles that prices play in a market
economy
By the end of this module you will be able to:
1. Describe what a demand curve is, what shifts it, and why
2. Describe what a supply curve is, what shifts it, and why
3. Justify how using supply and demand analysis can help them explain the world around them
4. Describe the effect that institutions have on the creation of value and wealth
Module 3: GDP, the wealth of nations, and the measurement of progress
Presentation of how national output is calculated, how progress is measured, and the long run factors which determine the standard of living that citizens of a nation will enjoy
By the end of this module you will be able to:
1. Define GDP and explain what it does and does not measure.
2. Interpret GDP as a measure of production, expenditure, and income
3. Identify the basic facts about economic growth, appreciate the importance of growth, and understand the process of
economic growth
Module 4: The financial system, the measurement and causes of unemployment
Explanation of the significance of saving and investment, and the role of the financial sector. Exploration of the nature and causes of unemployment
By the end of this module you will be able to:
1. Evaluate the relationship between saving and investment, and the function of the financial system
2. Describe how unemployment is measured, the different types, and evaluate how unemployment varies over the business
cycle
Module 5: The causes of inflation and business fluctuations
Development of the aggregate demand-aggregate supply model as a framework for thinking about inflation and the business cycle
By the end of this module you will be able to:
1. Explain what economists mean by inflation and how price indexes can be used to measure and adjust for inflation.
2. Use the quantity theory of money to explain what causes inflation.
3. Derive and use the AD–AS model to explain how demand shocks and real shocks together explain business fluctuations.
Module 6: The Federal Reserve and monetary policy
Exploration of how money is created, how it affects the economy, how the Federal Reserve is structured, and of the nature of
monetary policy
By the end of this module you will be able to:
1. Explain transmission mechanisms that can turn small, isolated shocks into larger, economy-wide business cycles
2. Explain the basic facts about money creation, the organization and role of the Federal Reserve, and how money is
created
3. Identify problems that make effective use of monetary policy difficult
Module 7: The federal budget and fiscal policy
Exploration of the main sources of government revenue and spending, and how fiscal policy impacts the macroeconomy
By the end of this module you will be able to:
1. Describe the limits of fiscal policy
2. Identify the major sources of government tax revenue
3. Identify the major sources of government spending
4. Identify the limits of fiscal policy
ATTENDANCE
Students must be officially enrolled in any course that they attend. It is expected that students will attend scheduled classes regularly and on time. If an absence occurs, it is the responsibility of the student to make up all missed work, if approved by the instructor. Students who stop attending a course and do not officially withdraw will receive grades of “0” for all work missed and will result in a punitive final grade. This policy shall be superseded by any more stringent attendance policy required by a regulatory or licensing body having jurisdiction over program requirements. Attendance will be tracked and maintained for various reporting purposes.
CLASS WITHDRAWAL POLICY
The deadline for dropping a class is published each semester on the CLTCC website in the academic calendar. A student who officially withdraws from a class prior to the designated date will receive a grade of “W” in that class. Any student who receives financial aid and withdraws from any or all classes is subject to repaying a portion of the funding received.
ACADEMIC HONESTY
The faculty of Central Louisiana Technical College supports the concept of academic honesty. The teaching faculty encourages academic honesty in all classes and we require academic honesty from all students. All students are expected to maintain honesty and integrity when completing all academic assignments and examinations. Plagiarism, cheating, and other forms of academic dishonesty will not be tolerated. Any student found guilty of such dishonorable acts in academic work will receive a “0” for the work presented. The instructor may also refer the student to the appropriate administrator for further disciplinary actions, which could result in an “F” in the course, dismissal from the course, or dismissal from the college.
STUDENT CODE OF CONDUCT
Students will be suspended for actions detrimental to the welfare of other students, instructors, staff, and the campus. These actions include, but are not limited to: Firearms and/or weapons, alcoholic beverages, and illegal drugs will not be permitted on campus. Profanity and fighting are strictly prohibited. Smoking or use of any other tobacco products is prohibited. Students must not eat or drink beverages in classrooms or labs. Vandalism will not be permitted on campus. Dishonesty will not be tolerated under any circumstances. Students who cheat, or aid in the act thereof, may be dismissed from campus. Students must display a respectable attitude and behavior toward instructor and other students. The college has a Zero Tolerance Policy, meaning the campuses should be completely free of threats and assaults to ensure the highest standard of safety for all faculty, staff, students, and visitors on each campus. The college will take all reasonably available steps to protect all such persons from violence. Violators of the Zero Tolerance Policy will be suspended.
Title IX
Central Louisiana Technical Community College faculty and staff are committed to helping create a safe and open learning environment for all students. If you (or someone you know) have experienced any form of sexual misconduct, including sexual assault, dating or domestic violence, or stalking, know that help and support are available. The College strongly encourages all community members to act, seek support, and report incidents of sexual misconduct to the Title IX Office. Be advised that we must disclose information about misconduct as per Title IX of the Education Amendments of 1972.
If you wish to speak to a confidential employee who does not have this reporting responsibility, you can contact the Title IX Coordinator for Students at 318-487-5443 ext. 1129. If it is an ADA issue, you can contact CLTCC's ADA Coordinator for Students at 318-487-5443 ext. For more information about reporting options and resources at CLTCC and the community, visit our Title IX page. Please complete the following Incident Report by clicking here to report the incident. Under "Nature of this Report," choose Title IX or Disability Service Request regarding a Reasonable Accommodations issue.
DISCIPLINARY PROBATION
A student may be placed on disciplinary probation when campus rules and policies are disregarded. When a student is placed on disciplinary probation, the student is given a specified time to improve his/her record. If the student’s record does not show improvement, the student may be suspended for a specific time, usually a semester or more.
STUDENTS WITH DISABILITIES
The Central Louisiana Technical College complies with Section 504 and the Americans with Disabilities Act. Students with disabilities who seek accommodations must make their requests known by contacting the Disabilities Coordinator at the beginning of each semester. If a disability is identified later in the semester, a non-retroactive accommodation plan will be developed.
Course Transferability
A student should contact the institution to which he or she intends to transfer to inquire about the potential transferability of the course and to determine whether the course will count in his or her major.
Instructor Credentials
All instructors for this course meet or exceed the criteria for academic and professional preparation as required in the SACS/COC standards for accreditation.