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California State University, Bakersfield
Enterprise College: Economics for Future Leaders (51029)
June 13-30, 2016
Course Information
Course: The Economic Way of Thinking (ECON 100; 5.0 quarter-units)
Instructors: Dr. Abbas Grammy and Dr. Aaron Hegde
Office: BDC Offices, Room 223
Phone: 661-654-2466
E-mail:
Speakers: Dr. Steven Daniels, Dr. Vince Carter, and Dr. Donna Simmons, Dr. Richard Gearhart, Dr. Nyakundi Michieka
Course Description
This course is an introduction to economics. Topics covered include theories and applications of microeconomics and macroeconomics. The course objectives are (1) to learn economic concepts and theories, (2) to be able to apply the economic concepts to contemporary issues, and (3) to be able to collect and analyze economic data. In addition, students learn the essentials of leadership within the economic environment.
Course Textbook
Openstax COLLEGE, Principles of Economics, Rice University, 2014, http://openstaxcollege.org/textbooks/principles-of-economics
Attendance Policy
Attendance in all class sessions is mandatory. You are required to attend all class sessions and participate in class activities. According to the CSUB rules and due to the intensity of the summer session, students missing class two class sessions will be subject to instructor’s initiated drop. Tardiness or early departure is not permitted and will be treated as absence.
Grading Policy
Grades will be determined by total points earned in the course, with the points corresponding to each letter grade to be assigned at the end of the term. I do not intend to grade on the curve. The grade distribution is as follows:
Midterm Exam 100 points
Final Exam 100
Leadership 20
Econ in Action 20
Newsletter 60
Total 300
285-300 A 240-250 B- 195-210 D+
270-285 A- 230-240 C+ 180-195 D
260-270 B+ 220-230 C 150-180 D-
250-260 B 210-220 C- < 150 F
Students earning “B+” or better will be recommended to KHSD to receive credit for their senior year economics course at the Honors level. Others who pass the course with “C” or better will be recommended to receive credit for their senior year economics course at the College Preparatory level. There is no make-up for missing assignments, projects, or exams. If you miss any of them due to illness, you would need to provide me with an appropriately signed and dated certificate from a medical doctor to become eligible for make-up. Late assignments, projects, or exams will not be graded. Incomplete grades will not be assigned for the reason of failing the course.
Class Schedule
Daily schedule of activities (Monday through Thursday) are shown below.
Session 0: 7:30 – 8:00 - Check-in
Session 1: 8:00 – 8:45 - Economic Theory
Session 2: 8:45 – 9:30 - Economic Application
Break: 9:30 – 9:45 - Closed Campus
Session 3: 9:45 – 10:00 - Econ in Action
Session 4: 10:00 – 10:45 - Economic Theory/Application
Session 5: 10:45 – 11:30 – Leadership/Economic Application
Date / Session 1 / Session 2 / Session 3 / Session 4 / Session 5Mon 6/13 / Introductions and Program Review / Econ in Action / Ch. 1: Dr. Hegde / Ch. 2: Dr. Grammy
Tue 6/14 / Ch. 3: Dr. Grammy / Econ in Action / Ch. 14: Dr. Hegde / Dr. Carter
Wed 6/15 / Ch. 4: Dr. Grammy / Ch. 17: Dr. Hegde / Econ in Action / Ch. 5: Dr. Grammy / Dr. Simmons
Thu 6/16 / Ch. 6: Dr. Grammy / Ch. 33: Dr. Hegde / Econ in Action / Ch. 7: Dr. Grammy / Ch. 15: Dr. Gearhart
Mon 6/20 / Ch. 8: Dr. Grammy / Ch. 16: Dr. Hegde / Econ in Action / Ch. 9: Dr. Grammy / Ch. 10: Dr. Gearhart
Tue 6/21 / Midterm Exam / Ch. 19: Dr. Grammy / Dr. Daniels
Wed 6/22 / Ch. 21: Dr. Grammy / Ch. 11: Dr. Hegde / Econ in Action / Ch. 22: Dr. Grammy / Dr. Daniels
Thu 6/23 / Ch. 24: Dr. Grammy / Ch. 20: Dr. Hegde / Econ in Action / Ch. 27: Dr. Grammy / Dr. Daniels
Mon 6/27 / Ch. 28: Dr. Grammy / Ch. 23: Dr. Hegde / Econ in Action / Ch. 30: Dr. Grammy / Ch. 12: Dr. Michieka
Tue 6/28 / Ch. 31: Dr. Grammy / Ch. 29: Dr. Hegde / Econ in Action / Ch. 32: Dr. Grammy / Ch. 13: Dr. Michieka
Wed 6/29 / Ch. 25: Dr. Grammy / Ch. 34: Dr. Hegde / Econ in Action / Ch. 26: Dr. Grammy / Keynes vs. Hayek
Thu 6/30 / Final Exam / Program Ends
Reading Assignments:
Chapter Title
1 Welcome to Economics
2 Choice in a World of Scarcity
3 Demand and Supply
4 Labor and Financial Markets
5 Elasticity
6 Consumer Choices
7 Cost and Industry Structure
8 Perfect Competition
9 Monopoly
10 Monopolistic Competition and Oligopoly
11 Monopoly and Antitrust Policy
12 Environmental Protection and Negative Externalities
13 Positive Externalities and Public Goods
14 Poverty and Economic Inequality
15 Issues in Labor Markets: Unions, Discrimination, Immigration
16 Information, Risk, and Insurance
17 Financial Markets
19 The Macroeconomic Perspective
20 Economic Growth
21 Unemployment
22 Inflation
23 The International Trade and Capital Flows
24 The Aggregate Demand/Aggregate Supply Model
25 The Keynesian Perspective
26 The Neoclassical Perspective
27 Money and Banking
28 Monetary Policy and Bank Regulation
29 Exchange Rates and International Capital Flows
30 Government Budgets and Fiscal Policy
31 The Impact of Government Borrowing
32 Macroeconomic Policy Around the World
33 International Trade
34 Globalization and Protectionism
Examinations: There are two exams, each having 50 multiple-choice questions for 100 points. The exams cover the following chapters:
Midterm Exam: June 21 – Chapters 1-10, 14-17, and 32
Final Exam: June 30 – Chapters 11-13, 19-31, and 33-34
Leadership Questions: Short-essay questions on leadership theory and practice. Each exam will include one question for 10 points.
Econ in Action Questions: Short-essay questions from Reason TV video clip you view in the class. Each exam will include one question for 10 points.
Writing Assignment: Your assignment is to make an informative and colorful one-page (double-sided) laminated newsletter. You track annual data from 2000 to 2015 on the following macroeconomic indicators. For each indicator, analyze its trends and compare the data average with its “desired” rate. Your newsletter is graded on data accuracy, graphical illustrations, writing mechanics and organization, and creative design and presentation beauty. The data source in www.economagic.com and the data collection process is outlined below:
Unemployment Rate
Bureau of Labor Statistics
United States
US Unemployment Rate
Transform these series to Annual Averages
Use GIF Chart to draw the graph and show recessions
Calculate the data average and compare it with the “natural rate” of 5.0 percent.
Inflation Rate
Bureau of Labor Statistics
Consumer Price Index by Item and Place (use the first link)
CPI: US City Average
SA All Items
Transform the series to Annual Averages
Transform these series to Annual Percentage Changes
Use GIF Chart to draw the graph and show recessions
Calculate the data average and compare it the “target rate” of 2.0 percent.
Interest Rate
U.S. Government
Federal Reserves, Board of Governors
Interest Rates
Bank Prime Loan Rate
Transform these series to Annual Averages
Use GIF Chart to draw the graph and show recessions
This interest rate is a policy variable, changing in response to economic conditions.
Economic Growth Rate
Department of Commerce
BEA: National Accounts (Gross Domestic Product)
Table 1.1.6. Real Gross Domestic Product, Chained Dollars
Gross Domestic Product (Annual)
Transform the series to Annual Percentage Changes
Use GIF Chart to draw the graph and show recessions
Calculate the data average and compare it with the “historical rate” of 3.2 percent.
Academic Honesty
Students are expected to do all assigned work without unauthorized assistance. CSUB policy requires that instructors: (1) refer possible violations (with evidence) to the Office of Student Rights and Responsibilities for investigation and possible disciplinary action and (2) impose a grade penalty deemed appropriate, which includes possibly assigning a final grade of F. Campus policy on academic honesty can be found by doing a word search for "academic integrity" in the online CSUB Catalog. In this course, you are expected to do your own work on exams (including take-home components), following all guidelines for use of calculators and allowable reference materials. In particular, answers taken from outside sources such as the textbook’s Instructor’s Manual and seemingly identical examinations and assignments will be subject to the cheating and plagiarism policy. You must work independently in the completion of all assignments and examinations in this course. All course requirements are not group activity.