SYLLABUS FOR INTRODUCTION TO GENERAL ECONOMIC THEORY

Term: Summer, 2000 (993) (May 1 - August 5, 2000)

Course Number: ECN150X

Instructor: Mr. David Kasper

Office Hours: By Appointment Only

E-mail: Seminar7@aol.com

Home Phone: (773) 646-4886

Course Time: Friday 6:30-9:30 p.m.

Course Description: This course introduces a range of approaches to economic theory. The basic principles of both micro-economics, as well as macro-economics are covered, together with alternative approaches to economic analysis. Note: Students may not receive credit for both ECN 150 and ECN 210. ECN 150 does not fulfill the prerequisite requirements for ECN 211.

Prerequisites: None

Textbooks: UNDERSTANDING ECONOMICS TODAY, Walton & Wykoff, Irwin

"Barron's"

"Business Week"

"Fortune"

"Money"

"US News and World Report"

"Smart Money"

"Wall St. Journal"

"Investors Business Daily"

"Crain’s Chicago Business"

Other Materials: Calculator, Spiral Notebook

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After the last day for class changes has passed (see College calendar), students may withdraw from a course in which they are registered with permission from the faculty member conducting the course. A written request detailing the reason(s) for the withdrawal must be filed with the Registrar. Written request for withdrawal must be received by the Registrar by the last day of classes prior to the final examination dates specified in the catalogue. Written requests may be mailed to the Registrar or faxed to the College fax number 219-473-4259. Students are to make note of the refund schedule when withdrawing from courses. The request is forwarded to the faculty member, who makes the final determination to accept or deny the request. If the request is honored, the student will receive notification of official withdrawal; if denied, the notification will indicate why the withdrawal is disallowed. Note: Degree Completion Division (DCD) students should consult the DCD Student Handbook for information on DCD withdrawals.

An official withdrawal is recorded as a "W" grade on the student's transcript. Dropping a

course without written permission automatically incurs an "F" grade for the course (see

Refund Schedule).

Attendance is mandatory. Remember that you receive points based on your attendance record. Please see your instructor beforehand if you know you are going to miss class. It is the student’s responsibility to get class lecture notes and make up any work missed.

Students may hand in assignments late. Late work will have one point taken off for each week late. Students may make up missed exams during the final week, after all other class business has been taken care of.

Students in this course will:

• Define terms used to explain economic concepts
• Explain the responsibilities of the "practical economist"
• Defend the study of economics
• List and briefly explain the three economic questions that every society must decide
• Describe the factors of the circular flow and describe how they are linked together
• State and apply the Law of Supply
• State and apply the Law of Demand
• Compare and contrast the four basic market models
• Utilize the economic method and recommend solutions to a contemporary economic problem
• Utilize graphs and demonstrate the impact of externalities
• Describe the factors that determine the distribution of income
• List and explain the economic functions of government
• Given a contemporary problem, evaluate the results of government intervention
• Evaluate the impact of a large federal government deficit
• Describe the three tools the Federal Reserve can use in controlling the money supply
• Explain the process of international trade
• Interpret economic statistics such as GDP, CPI, and the unemployment rate
• Describe the payroll tax and its effects on the economy
• Calculate federal and state tax liability for a given income
• Learn the basics of the Internet and on-line research
• Manage a stock portfolio

A 297 – 330 B 264 – 296 C 231 – 263 D 198 – 230 F 000 – 197

1. From time to time, handouts of recent economic events will be distributed. This is testable material.
1. Take good notes in class! I give you much more information than what is in the text. I will also be showing the video series "Economics USA" to illustrate real life cases of economic theory. This is also testable material.
2. Reading assignments should be completed before attendance in class.
3. Contact your instructor if additional help is required or if an emergency comes up that requires you to miss more than one class.
4. Projects must be typed (double-spaced) or written in legible handwriting.
5. If, for any reason, you decide to withdraw from the course, write a letter of explanation to the Registrar so that a "W" and not an "F" will appear on your record.
6. The instructor handles class cancellations. Please provide me with a telephone number or pager number on the sign in sheet.

Class Date Topic - Assignment