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California State University, Bakersfield
Department of Economics
Course Information
Course: The Economic Way of Thinking (ECON 100; 5.0 quarter units)
Term Summer 2010
Instructors: Dr. Abbas Grammy and Mr. Andrew Karnowski
Office: BDC Offices, Room 249 entering from 247
Phone: 661-654-2466
E-mail:
Website: www.csub.edu/~agrammy
Course Description
This course is an introduction to economic theory and applications. The course objectives are twofold: to learn the basic economic concepts and analyze economic theories and to be able to apply the economic way of thinking and methodology in the analysis of historical and contemporary issues.
Course Textbook
Robert C. Guell, Issues in Economics Today, 5th edition, McGraw-Hill, 2010. You can buy either its E-book or paper copy.
The PowerPoint slides of my class presentations are available on my website for you to print. Print them as “handout” three slides to a page.
Reading Assignments
Economic Way of Thinking – Theory
The Study of Opportunity Cost Chapter 1
Supply and Demand Chapter 2
Elasticity, Consumer and Producer Surplus Chapter 3
Firm Production, Cost and Revenue Chapter 4
Perfect Competition and Monopoly Chapter 5
Macroeconomic Concepts Chapter 6
Interest Rates and Present Value Chapter 7
Aggregate Demand and Aggregate Supply Chapter 8
Fiscal Policy Chapter 9
Monetary Policy Chapter 10
Housing Bubble Chapter 11
Recession of 2007-2009 Chapter 12
Federal Spending Chapter 13
Federal Deficits and National Debt Chapter 14
International Finance and Exchange Rates Chapter 16
Economic Growth and Development Chapter 18
Economic Way of Thinking – Applications
Poverty and Welfare Chapter 33
The Economics of Race & Sex Discrimination Chapter 27
Health Care Chapter 22
Minimum Wage Chapter 29
Unions Chapter 39
Why College Textbooks Cost so Much? Chapter 31
Education Chapter 32
The Environment Chapter 21
Ticket Brokers and Ticket Scalping Chapter 30
Sports Questions Chapter 37
The Cost of War Chapter 40
Social Security Chapter 34
Personal Income Taxes Chapter 35
Class Schedule
Daily schedule of activities are:
Check-in: 8:00 – 8:15 a.m.
Session 1: 8:15 - 9:00 a.m.: Economic Way of Thinking – Theory
Session 2: 9:00 - 9:30 a.m.: Economic Way of Thinking - Applications
Break: 9:30 – 9:45 a.m.
Session 3: 9:45 – 10:30 a.m.: Economic Way of Thinking – Theory / Applications
Session 4: 10:30 a.m. – 11:15 a.m.: Principles of Leadership
Session 5: 11:15 a.m. - 12:00 p.m.: Lesson from U.S. Economic History
Date / Session 1 / Session 2 / Session 3 / Session 4 / Session 5Mon 6/14 / Introductions / Program Review / Ch.1: Dr. Grammy / Ch.33: Mr. Karnowski / U.S. Econ History
Tue 6/15 / Ch. 2: Dr. Grammy / Ch.27: Mr. Karnowski / Ch. 3 : Dr. Grammy / Dr. Wall / U.S. Econ History
Wed 6/16 / Ch. 4: Dr. Grammy / Ch.22: Mr. Karnowski / Ch. 5: Dr. Grammy / Dr. Wall / U.S. Econ History
Thu 6/17 / Ch. 6: Dr. Grammy / Ch.29: Mr. Karnowski / Ch. 39: Mr. Karnowski / Dr. Wall / Test 1
Mon 6/21 / Test 1 Results / Ch.31: Mr. Karnowski / Ch. 7: Dr. Grammy / Dr. Paris / U.S. Econ History
Tue 6/22 / Ch. 8: Dr. Grammy / Ch.32: Mr. Karnowski / Ch. 9: Dr. Grammy / Dr. Daniels / U.S. Econ History
Wed 6/23 / Ch. 10: Dr. Grammy / Ch.21: Mr. Karnowski / Ch.11: Dr. Grammy / Dr. Daniels / U.S. Econ History
Thu 6/24 / Test 2 / Ch.30: Mr. Karnowski / Ch.12: Dr. Grammy / Dr. Daniels / Class Photo
Mon 6/28 / Test 2 Results / Ch.37: Mr. Karnowski / Ch.13: Dr. Grammy / Dr. Simmons / U.S. Econ History
Tue 6/29 / Ch.14: Dr. Grammy / Ch.40: Mr. Karnowski / Ch.16: Dr. Grammy / Mr. Coffey / U.S. Econ History
Wed 6/30 / Ch.18: Dr. Grammy / Ch.34: Mr. Karnowski / Ch.35: Mr. Karnowski / Dr. Bedell / U.S. Econ History
Thu 7/1 / Test 3 / Test 3 Results / Mr. Brice / Closing Ceremony
Course Requirements:
Weekly Tests 65% As scheduled
Economic Newsletter 15% Due Monday June 28
Leadership & Management Questions 10% Daily activity
U.S. Economic History Questions 10% Daily activity
Weekly Tests: There are three multiple-choice-question tests in the course, all counting for 65% of your grade. Tests are given on the following Thursdays:
Test 1 for 15%: June 17 - Chapters 1-5 and 33, 27, and 22
Test 2 for 25%: June 24 - Chapters 6-11 and 29, 39, 31, 32, and 21
Test 3 for 25%: July 1- Chapters 12-14, 16 and 18 and 30, 37, 40, 34, and 35
U.S. Economic History Questions include a series of film presentations on the economic history of the United States. After watching a film, you answer two essay questions. Exams include one or more of such essay questions.
Leadership Questions consist of essay questions on leadership and management theory and practice. Exams include one or more of such essay questions.
Newsletter: You’ll track annual data (2000-2009) on unemployment rate, inflation rate, and economic growth rate. You will analyze the trends of these indicators and design a newsletter (one double-sided and laminated page). Your newsletter is graded on
· Data accuracy
· Graphical illustrations
· Writing mechanics and organization
· Beauty of presentation
To collect data visit www.economagic.com
US Macro 1
US Employment Data: Unemployment Rate
US Consumer Price Index: All Urban Consumers, SA
US GDP and Components: Real Gross Domestic Product in Chained 2005 Dollars
Within each database you can transform data to Annual Averages and/or Annual Percentage Change. You can also forecast and plot graphs using the GIF Chart feature.
Course requirements and grade distribution are as follows:
Attendance Policy
Attendance in all class sessions is mandatory. You are required to attend all class sessions and actively participate in class discussion and activities. According to the KHSD and CSUB rules and due to the intensity of the summer session, students missing two days of the class will be subject to instructor’s initiated drop. Tardiness is not permitted and will be treated as absence.
Grading Policy
Grades will be determined by total percentage points earned in the course, with the points corresponding to each letter grade to be determined at the end of the term. I do not intend to grade on the curve. Rather, I use the usual standard that corresponds to each letter grade:
95-100 A 84-87 B 74-77 C 60-65 D
90-95 A- 80-84 B- 70-74 C- 50-60 D-
87-90 B+ 77-80 C+ 65-70 D+ 0-50 F
Students earning B+ or higher will be recommended to KHSD for receiving credit for their senior year economics course at the Honors level. Other who pass the course with C- and higher will be recommended for receiving 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.
Cheating & Plagiarism:
I follow the university’s policy on Academic Integrity enumerated below:
The principles of truth and integrity are recognized as fundamental to a community of teachers and scholars. The University expects that both faculty and students will honor these principles and in so doing will protect the integrity of all academic work and student grades. Students are expected to do all work assigned to them without unauthorized assistance and without giving unauthorized assistance. Faculty have the responsibility of exercising care in the planning and supervision of academic work so that honest effort will be encouraged and positively reinforced.
There are certain forms of conduct that violate the university's policy of academic integrity. ACADEMIC DISHONESTY (CHEATING) is a broad category of actions that use fraud and deception to improve a grade or obtain course credit. Academic dishonesty (cheating) is not limited to examination situations alone, but arises whenever students attempt to gain an unearned academic advantage. PLAGIARISM is a specific form of academic dishonesty (cheating) which consists of the misuse of published or unpublished works of another by claiming them as one's own. Plagiarism may consist of handing in someone else's work, copying or purchasing a composition, using ideas, paragraphs, sentences, phrases or words written by another, or using data and/or statistics compiled by another without giving appropriate citation. Another example of academic dishonesty (cheating) is the SUBMISSION OF THE SAME, or essentially the same, PAPER or other assignment for credit in two different courses without receiving prior approval.
In particular, seemingly identical examinations and assignments will be subject to the cheating and plagiarism policy. The course of action is to assign Failure (F) grades to students caught cheating and for the instructor to report them to the university administration for further disciplinary actions. You must work independently in the completion of all assignments and examinations in this course. All course requirements are not group activities.