DCC Economics
Economic Issues
Mrs. Streever
(845) 298-5100 ext. 31077
Business Education Office=Room # 251
Welcome to the wonderful world of economics! My goal is to teach basic economic theory by applying important theoretical concepts to real-world, present-day economic issues. This is an introductory course in economics that integrates theory and contemporary issues in economics and political economy. You will find that economic issues are intriguing, far-reaching, and incredibly relevant to your everyday life.
The required text is:
Robert C. Guell, Issues in Economics Today, Fifth Edition
***Other Internet resources will also be utilized****
Supplemented by:
National Issues Forums
a. “Too Many Children Left Behind"
b. “The Energy Problem"
Goal: The Guell text combines eight chapters of technical economics with thirty-three chapters on various economic issues to which most Americans can relate. The goal of the course is to raise issues that are important in your economic life and see how the economist looks at the same issues. Guell does an excellent job in connecting theory to practice, but I must warn you that his "issues" chapters can be very challenging. That is good, as one half of our time will be discussing some of the ideas Guell raises.
Process: On most of the odd-numbered weeks, we will cover the technical aspects of the topic listed. There will be lectures and videos. We will attempt to clarify the more difficult concepts covered by the text. In the next class (mostly even weeks) we will discuss two issues that have practical consequences and also relate to the topic of the previous week. Again, depending upon the topic, discussion will be supplemented by videos and internet activities.
Responsibilities: It is critical that each student keeps detailed notes on readings assigned. Readings must be completed on the dates indicated. If they are not, the class will be meaningless. Also, students will be asked to summarize and analyze their Readings during the "Issues" classes. Finally, these detailed notes will be critical in the successful completion of your final examination.
WEEK 1 & 2: ECONOMICS:
1) THE STUDY OF OPPORTUNITY COST
Guell, Chapter 1 and 33
2) POVERTY AND WELFARE
*Internet Assignment*
TEST
______
WEEK 3: ISSUES:
1) FISCAL POLICY
QUIZ
2) FEDERAL SPENDING
Guell, Chapter 9 and 13
*Internet Assignment CHAPTERS 9 & 13
QUIZ CH 9 and QUIZ CH 13(Separate)
______
WEEK 4 & 5: SUPPLY AND DEMAND
Guell, Chapter 2
QUIZ
GROUP/INDIVIDUAL ASSIGNMENT-BOOKLET ON ENERGY:
Read the Nations Issues Forum booklet :( “The Energy Problem") on energy options. This booklet presents three approaches in dealing with the issue. There will be a student discussion/presentation and open-note quiz on this booklet.
______
WEEK 6: ISSUES
1) THE ECONOMICS OF RACE AND SEX DISCRIMINATION
2) TICKET BROKERS AND TICKET SCALPING
*Internet Assignments*
Guell, Chapters 27 and 30
TEST CH 27, 30
______
WEEK 7: THE CONCEPT OF ELASTICITY & CONSUMER AND PRODUCER SURPLUS
Guell, Chapter 3
______
WEEK 8 & 9: ISSUES
1) THE LINES BETWEEN LEGAL & ILLEGAL GOODS
**Internet Assignment**
2) HEALTH CARE
*Internet Assignment*
Guell, Chapters 20 and 22
Project-SOCIAL ISSUES PAPER
TEST
______
WEEK 10-EVERYTHING MACROEONOMIC
Guell, Chapter 6
______
WEEK 11 & 12: ISSUES:
1) MONETARY POLICY
**Internet***(Assignments on Ketcham)About the Fed
Guell, Chapters 10
Test
GROUP/INDIVIDUAL ASSIGNMENT: BOOKLET ON EDUCATION
Read the Nations Issues Forum booklet :( “Too Many Children Left Behind") on the crisis in education. This booklet presents three approaches in dealing with the issue. There will be a student discussion/presentation and open-note quiz on this booklet. ______
WEEK 13: INTEREST RATES AND PRESENT VALUE
Guell, Chapter 7
______
WEEK 14 & 15: ISSUES
1) PERSONAL INCOME TAXES (Chapter Outline)
(Assignments on Ketcham)
**Internet Assignment**
2) SOCIAL SECURITY
**Internet Assignment**
Guell, Chapters 35 and 34
TEST
WEEK 16: 1) MINIMUM WAGE
Guell, Chapter 29
2) UNIONS
Guell, Chapter 39
______
WEEK 17 & 18: ISSUES
1) FEDERAL DEFICITS, SURPLUSES AND THE NATIONAL
DEBT
**Internet Assignment**(Assignments on Ketcham) Federal Deficits
2) ECONOMICS AND THE LAW
Guell, Chapters 14 and 25
TEST
______
WEEK 19: FINAL EXAMINATION PREPARATION (REVIEW SHEET)
This class will be used to hit any topics that were missed due to time
Shortage and to review of topics and issues covered on the final examination.
______
WEEK 20: FINAL EXAMINATION
All tests and quizzes are announced. There will be a review before each test.
Reading Assignments
I expect you to keep up with the course readings. Each week has an assigned list of chapters and/or additional readings—make sure you have read each week’s assigned readings and be prepared for classroom discussion.
Grade Determination:
15%=Homework
15%=Notebook
40%: Tests/Quizzes
10%: class participation, preparation and discussion
20%: Project
**There will be a Final Examination***
ECONOMIC PROJECT: SOCIAL ISSUES PAPER
NOTE: YOUR PAPER “MUST” BE SUBMITTED ON TIME
PLAGERISM WILL NOT BE TOLERATED (Severe consequences will be enforced)
Step by step instructions:
1. Research and complete a comprehensive paper on any current issue of your choice. (Please see Mrs. Streever for approval & input)
2. You must use a minimum of 4 different reference sources.
3. Your Paper must be of “4-8 pages” in length.
***I encourage you to go beyond the 4 page minimum.***
4. Your paper must be 4-8 DOUBLE-SPACED TYPED PAGES of “TEXT” relating to your Topic of Interest.
· PLEASE NOTE: This does NOT include Pictures, Graphs, Charts, Cartoons, or any other information that is copy/paste items inserted into this paper. ****
· *Pictures/cartoons/graphs do not need to be cited*
· You need to include references in the text as well as a reference page at the end of the paper.
· All materials gathered from outside sources must be referenced!!
· Use MLA style reference format.
· A WORK CITED page is required(listing sources used)
· If the paper is submitted without references and work cited page a 20% reduction in the paper grade will occur.
· Your paper must be submitted on time. Late points will be assessed for each day the paper is late.