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California State University, Bakersfield
Enterprise College: Economics for Future Leaders
Course Information
Course: The Economic Way of Thinking (ECON 100; 5.0 quarter units)
Term Summer 2011
Instructors: Dr. Abbas Grammy
Office: BDC Offices, Room 249 entering from 247
Phone: 661-654-2466
E-mail:
Website: www.csub.edu/~agrammy
Speaker s: Dr. Aaron Hegde, Dr. Charles Wall, Dr. Steven Daniels, Dr. Vince Carter, Dr.
Michael Bedell, Dr. Donna Simmons, Mr. Keith Brice
Course Description
This course is an introduction to economic theory and applications. The course objectives are (1) to learn the basic economic concepts and analyze economic theories and (2) to be able to apply the economic way of thinking and methodology in the analysis of historical and contemporary issues. In addition, students learn the essentials of leadership in an economic environment.
Course Textbook
Robert C. Guell, Issues in Economics Today, 5th edition, McGraw-Hill, 2010, E-book or paper copy
PowerPoint slides of class presentations are available on my website for you to print. If you decide to print, I recommend you print them as “handout” three slides to a page.
Reading Assignments
The 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
The Economic Way of Thinking – Applications:
The Environment Chapter 21
Health Care Chapter 22
The Economics of Prescription Drugs Chapter 24
The Economics of Crime Chapter 26
The Economics of Race & Sex Discrimination Chapter 27
Farm Policy Chapter 28
Ticket Brokers and Ticket Scalping Chapter 30
Poverty and Welfare Chapter 33
Energy Prices Chapter 36
The Stock Market & Crashes Chapter 38
The Cost of War Chapter 40
Class Schedule
Daily schedule of activities (Monday through Thursday) are shown below:
Check-in 7:40 – 7:55 a.m.
Session 1: 8:00 – 8:45 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. (Closed campus)
Session 3: 9:45 – 10:30 a.m.: Economic Way of Thinking – Theory / Applications
Session 4: 10:30 – 11:15 a.m.: Principles of Leadership
Session 5: 11:15 – 12:00 p.m.: Economics in Action
Date / Session 1 / Session 2 / Session 3 / Session 4 / Session 5Mon 6/13 / Introductions / Program Review / Research Method / Ch.1: Dr. Grammy / Econ in Action
Tue 6/14 / Ch. 2: Dr. Grammy / Ch.22: Dr. Hegde / Ch. 3 : Dr. Grammy / Dr. Wall / Econ in Action
Wed 6/15 / Ch. 4: Dr. Grammy / Ch.24: Dr. Hegde / Ch. 5: Dr. Grammy / Dr. Wall / Econ in Action
Thu 6/16 / Ch. 6: Dr. Grammy / Ch.28: Dr. Hegde / Ch. 26: Dr. Hegde / Dr. Wall / Test 1
Mon 6/20 / Test 1 Results / Ch.27: Dr. Hegde / Ch. 7: Dr. Grammy / Dr. Carter / Econ in Action
Tue 6/21 / Ch. 8: Dr. Grammy / Ch.33: Dr. Hegde / Ch. 9: Dr. Grammy / Dr. Daniels / Econ in Action
Wed 6/22 / Ch. 10: Dr. Grammy / Ch.21: Dr. Hegde / Ch.11: Dr. Grammy / Dr. Daniels / T-Shirt distribution
Thu 6/23 / Test 2 / Ch.30: Dr. Hegde / Ch.36: Dr. Hegde / Dr. Daniels / Class Photo
Mon 6/27 / Test 2 Results / Ch.12: Dr. Grammy / Ch.13: Dr. Grammy / Dr. Simmons / Econ in Action
Tue 6/28 / Ch.14: Dr. Grammy / Ch.38: Dr. Hegde / Ch.15: Dr. Grammy / Dr. Bedell / Econ in Action
Wed 6/29 / Ch.16: Dr. Grammy / Ch.40: Dr. Hegde / Ch.18: Dr. Grammy / Dr. Bidgoli / Econ in Action
Thu 6/30 / Test 3 / Test 3 Results / Mr. Brice / Closing Ceremony
Course Requirements:
Weekly Tests 65% As scheduled
Writing Assignment 15% Due Tuesday June 28
Leadership & Management Questions 10% Daily activity
Economics in Action Quizzes 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 16 - Chapters 1-5 and 22 and 24
Test 2 for 25%: June 23 - Chapters 6-11 and 26, 27, 28, 33, and 21
Test 3 for 25%: June 30- Chapters 12-15, 16 and 18 and 30, 36, 38, and 40
Economics in Action: A series of film presentations on economic theory and applications. After watching a film, you answer a few short-essay questions. Each exam will include one or more of such questions.
Leadership Questions consist of short-essay questions on leadership and management theory and practice. Each exam will include one or more of such questions.
Writing Assignment: You will track annual data (2000-2010) on unemployment rate, inflation rate, and economic growth rate. You will analyze the trends of these indicators and design a newsletter (one page: double-sided and laminated). Your newsletter is graded on
· Data accuracy
· Graphical illustrations
· Writing mechanics and organization
· Creativity and beauty of presentation
To collect data visit www.economagic.com, US Macro 1
· US Employment Data: Unemployment Rate
Transform to Annual Averages
· US Consumer Price Index: All Urban Consumers, SA
Transform to Annual Averages
Transform to Annual Percentage Change (to get inflation rates)
· US GDP and Components: Real Gross Domestic Product in Chained 2005 Dollars
Transform to Annual Averages
Transform to Annual Percentage Change (to get economic growth rates)
Use the GIF Chart feature to plot graphs (make sure to change 1990 to 2000 in the time box).
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 KHSD / 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 assigned 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 to receive credit for their senior year economics course at the Honors level. Others who pass the course with C- or higher 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.
Cheating & Plagiarism:
I follow the university 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. Course requirements are not group activities.