Mac Econ (Coursework)

 This course is a review of fundamental concepts of macroeconomics and it is provided as the educational tool for learning the indispensable body of knowledge for anyone to undertake college education in general, and professional courses, in particular.

The core of the course deals with fiscal policies applying to taxation and government spending, and monetary policy affecting investments and currency value. The emphasis is placed on periodic setbacks in economic prosperity and the choice of policy tools to deal with them.

Major theoretical view points are contrasted. The first chapters offer basic definitions and general descriptions of economic processes and concepts. The last chapter touches upon economic growth.

Objectives:

After completing this course, a learner should have an adequate understanding of

– The role of government and limitations of its policies

– The major causes of economic disruptions to prosperity

– What corrective policies are available and how they have been used in the past

– To what extent economic disruptions affect every person and business

– The role of money, the effect of inflation and the methods to keep the value of money stable

– The importance of monetary policies for every person and business

Organization of chapters:

The topics are arranged in a sequence most commonly used to teach the material in college courses.

Chapter 1: Introduction to the Economic Science

Chapter 2: Definition of the Economic Problem

Chapter 3: Demand and Supply

Chapter 4: Mixed Capitalism

Chapter 5: National Income Accounting

Chapter 6: Business Cycle

Chapter 7: Classical vs Keynesian Controversy

Chapter 8: Keynesian_theory

Chapter 9: Fiscal Policy

Chapter 10: Definition of Money

Chapter 11: Central Banking

Chapter 12: Monetary Policy

Chapter 13: Monetary Controversy

Chapter 14: Supply-side Economics

Chapter 15: Economic Growth

Design of content:

The course is written for a rapid review of material studied from the textbook. It is a very simple, straightforward and easy to learn summary of the texybook.

The text is short, but every word counts. The content is not designed for approaching the subject matter for the first time: it can be used only as a study guide for an introductory course in macroeconomics which must be completed with the reading and studying to be carried out in the main textbook..

Studying approach:

One would normally read the text starting from chapter 1 and move on to each subsequent chapter as the material builds on concepts presented in previous chapters. Please the section studying advices.

Evaluation:

Taking the comprehensive test available at the end of the course should give a good assessment of the overall knowledge of course content. Because this content is fundamental for business studies a grade of 70 correct answers out of 100 is the very minimum that any learner should achieve. If one does not achieve close to that, it is strongly recommended that a full text introductory course be used to clarify concept misunderstood from this handbook.

For a complete introductory course, the provided comprehensive test is not sufficient for learner evaluation. Written assignments should be required.

One should note that the comprehensive test does not allow linking back to the underlying text. Although the questions and the answers in all tests are randomized to avoid memorizing correct answers (rather than underlying concepts), this comprehensive test is inferior to review quizzes for learning purposes.

The comprehensive test is only designed for a quick overall evaluation. Moreover, because the test taking is not proctored and the learner can use his/her notes, the reliability of the grade has some limitations.

The comprehensive test can be taken several times, and only the last result will count. Nevertheless, you are advised to take the comprehensive test seriously if you plan to use its results for further studies.

How to study the course?

This is mostly up to the learner, with possible guidance from the instructor.

The material provided is arranged so that it is compatible with different learning styles.

The normal sequence would be to – read one chapter at a time, taking detailed notes as one reads; – verify understanding of the chapter with the help of review questions; – apply the concepts with exercises and case assignments, and visit the links present; – assess the limits of a concepts by doing the research assignments; – expand the understanding of the material in the chapter by reading materials listed in bibliography.

After a body of chapters has been completed, the learner should prepare for comprehensive exams by conducting a review of concepts and their application with the help of cases and assignments designed specifically for that.

The above sequence can be significantly changed depending on the preferences and needs of individual learners.

For instance, if a learner believes that he/she already knows most of what is in a chapter, going over review questions will allow him/her to link back only to those concepts that are not fresh in mind.

Or, if the learner prefers a learning by doing approach, case studies will reveal what tools of that chapter are necessary to find solutions.

For certain topics, there are links that permit a learner to follow their development in the context of different chapters. These are available for narrowly focused investigations. A learner should be discouraged from making a habit of jumping around too much.

Additional relevant guidelines on approach to each course can be found in the foreword of each course.

After reading the text, the learner is urged to use the review quizzes present at the end of each chapter. The quizzes test the knowledge of each concept in the chapter with the ability to link back to the chapter if it is not clear why the correct answer is what it is.

See typical Grade Evalution

Student Name Chinese

(Pinyin)

Student Name

(English)

Student Number Class Code
Major Year
QUIZ EVALUATION TABLE Week

Due

Done

Y/N

Total

Quiz

Marks

X Quiz

Total

Marks

Total

Perc

Grade

E, G, A, P, F

Quiz Chapter 1 2nd 11 Question 1-2 (5% marks each), 3 -11 (10% marks each) Total Marks = 100
Quiz Chapter 2 3rd 11 Question 1-2 (5% marks each), 3 -11 (10 marks each) Total Marks = 100
Quiz Chapter 3 4th 20 All questions 5% each Total Marks = 100
Quiz Chapter 4 5th 20 All questions 5% each Total Marks = 100
Quiz Chapter 5 6th 20 All questions 5% each Total Marks = 100
Quiz Chapter 6 7th 20 All questions 5% each Total Marks = 100
Quiz Chapter 7 8th 16 Questions 1 – 10 (5% mark each), 11 – 15 (8% mark each),  16 (10% mark) Total Marks = 100
Quiz Chapter 8 9th 20 All questions 5% each Total Marks = 100
Quiz Chapter 9 10th 20 All questions 5% each Total Marks = 100 Total Marks = 100
Quiz Chapter 10 11th 0 Included in Chapter 11 Total Marks = 100
Quiz Chapter 11 12th 20 All questions 5% each Total Marks = 100
Quiz Chapter 12 13th 14 Question 1 to 12 x 5 % each = 60 Marks and Questions 13 – 14 x 20% each = 40 Marks. Total 100
Quiz Chapter 13 14th 12 Question 1 to 6 x 5 % each = 30 Marks and Questions 7 – 10 x 10% each = 40 Marks and Questions 11 – 12 x 15% each = 30 marks. Total 100
Quiz Chapter 14 15th 12 Question 1 to 6 x 5 % each = 30 Marks and Questions 7 – 10 x 10% each = 40 Marks and Questions 11 – 12 x 15% each = 30 marks. Total 100
Quiz Chapter 15 16th 4 25% each Total Marks = 100
Final Review Quiz 17th 50 50 = 2 marks each Total 100
Total Target  1600  Total Achieved
ASSIGNMENT

EVALUATION TABLE

Week

Due

Done

Y/N

Total

Quiz

Marks

X Quiz

Total

Marks

Total

Perc

Grade

E, G, A, P, F

Quiz Chapter 1 2nd 1 1 = 100 Total
Quiz Chapter 2 3rd 2 2 = 50 each Total 100
Quiz Chapter 3 4th 4 4 = 25 each Total 100
Quiz Chapter 4 5th 5 5 = 10 each Total 100
Quiz Chapter 5 6th 5 5 = 10 each Total 100
Quiz Chapter 6 7th 7 1 = 10 each (40), 2 to 7 = 15 each (60) Total 100
Quiz Chapter 7 8th 8 1 to 4 = 10 each (40), 5 to 8 = 15 each (60) Total 100
Quiz Chapter 8 9th 10 5 = 10 each Total 100
Quiz Chapter 9 10th 6 1 to 4 = 15 each (60), 5 & 6 = 20 each (40) Total 100
Quiz Chapter 10 11th 5 Included in Chapter 11 and same Marks as per Chap 11
Quiz Chapter 11 12th 1 1 = 100 Total
Quiz Chapter 12 13th 5 5 = 10 each Total 100
Quiz Chapter 13 14th 3 1 = 20 each, 2 & 3 = 40 each Total 100
Quiz Chapter 14 15th 5 5 = 10 each Total 100
Quiz Chapter 15 16th 3 1 = 20 each, 2 & 3 = 40 each Total 100
Total Target  1500  Total Achieved

Registration for Office Hours

It is recommende that the learner does register for consultation hours with the lecture in charge. Consultation hours are conducted three time per week and last three hours. Each learner can apply every time for a 20 minutes one to one consultation appointment. Consultation hour are conducted in English language and must be booked in advance through the instructor email or through the class’s Teacher Assistant.

The consultation times will be registered and all the following data will be kept for record taking: date, time in and timeout, topics discussed, student inquiries, advices given to the learner, overall instructor’s feedback about learner attitude and progress.

The learner by attenting as many as consultantion hours will enjoy two major outcomes. First, once signed in, the learner will have a more profound approach to learning and comprehension through detailed guidance. Second, the learner will naturally and consequentially improve English language skills and also use and mastering of Economic vocabulary.

For the learner with limited English language skills, it is possible to arrange for an assistant translator for the meeting.

Questions or comments:

Your comments, corrections and suggestions are most welcome: please email them to the instructor email 3233707094@qq.com directly

Teaching Philosophy

Teamwork

Each class is divided in teams. Each team will be composed by maximum 3 member depending on the total students in the class. Each team will have to choose a name from categories of names decided by the teacher, like the followings: names of animals, Chinese horoscope; Chinese cities or province or traditional dishes; European or American or African or Asian Countries or Capital Cities: Fashion brands: flowers, fruits, vegetables or animals, football teams or basketball teams.

Each team must have a leader. The role of the leader is to ensure the team performs at her best all the time by practicing good behavior in class, actively interacts with the teacher, punctually hands over home assignments and projects as per assessing requirements, and collaborates in promoting a motivating learning environment by increasing the enthusiasm and team spirit among the members.

The team is successful or otherwise depending upon the performance of the members. SUCCESS AND FAILURES ARE SHARED EQUALLY AND FAIRLY. Therefore, Close Collaboration and Trust among the members are vividly encouraged and expected.

The attendance and discipline in class for the team is carried by the leader and the final marks on class participation, attendance, teamwork, project is evenly distributed among all members.

Each team will have a shared mark for class attendance based on the total presences recorded by the team during the semester. Example; if a team has 3 members and the total weeks of the semester is 16 then a team scoring 48 attendances will have achieved 100% or 5% for each member. If the team scores 44 presences then the total attendance percentage will be 90% or 4.5% for each member.

The same criteria will be used to allocate marks for class participation, midterm project and teamwork.

Ladies and Gentlemen

The students are not considered students but young adults entering and starting their college life and, as such, considered mature enough to be responsible for their own actions and approach to learning and living independently and away from the comforts of their homes.

As ladies and gentlemen, students will not be called by their names but the will be addressed by the teacher with the title of Mr. and Miss. followed by their first name or preferred English name. This is to create in the student the feeling to be in the adulthood phase and not a late adolescence. In this way, the student will feel that respect is received and given at equal proportion and same quality in life in the way it is enjoyed by others and one’s self.

Based on this principle, no behavior contrary to respect and honor will be entertained or accepted and the highest regard for such titles (Lady or Gentleman) and the manners in which they are carried out do constitute a point of merit in the final evaluation.

This philosophy of teaching is based on the most effective training methods used by the Ritz Carlton Hotel Group where everyone is important and essential for the betterment, development and success of the company through a very exciting, motivating and enticing learning and working environment.

As adults, the students will feel the responsibility rested on their shoulders and behave respectfully and diligently by searching the best ways to outperform themselves and take up various challenges during their time spent in college.

Furthermore, the students will develop the understanding and comprehension of the importance of trust, friendship, teamwork, give and receive help and support, as well as responsibility, and commitment. Simultaneously, the students will be able to learn the intrinsic meaning of hardworking and determination and soft skills as interpersonal communication and social interaction, acceptance of diversity and celebration of individual uniqueness.

Class Code of Disciplinary Conduct

Each student will be given 1 mark for each attendance in class and the team will be given the total attendance of each member divided by 5% as final attendance mark. If a student is late for class not beyond ten minutes then he/she will be allowed in class upon asking permission toward the teacher and the class. If the lateness is beyond ten minutes but not more than 30 minutes, the student will be allowed in class but his attendance will be marked as 0.5. If the lateness is beyond 30 minutes then the student will be allowed in class but an absence from class will be recorded, even though the student is seating in class.

Use of phone or any electronic device is not allowed in class unless it is authorized by the teacher. Cell phones can be used to record the lesson if prior permission has been granted by the teacher. Sometimes, phones can be used during class time if required by the teacher for surfing web sites or looking up for sources of information or even for QQ group communication and information.

In each class, the teacher may choose two or three assistants who are required to assist in the effective management of the class and oriented to improve class behavior and performance.

Chatting or any form of class disruptions, including unauthorized use of cell phones or any other electronic devices, will be awarded a penalties of mark subtracted from the overall final mark in the following way:

1)     The first offence will be awarded a 5% cut from the overall final mark

2)     The second offence will be awarded a further 10% mark from the final mark

3)     The third offence will be awarded another 15% cur from the final overall mark

4)     The 4th offence will be awarded a further 20% cut from the final overall mark meaning that the highest mark achievable by the student is just passing mark

5)     Any further offence will grant an immediate failure from the course with no further chance of being reinstated into the class.

All these penalties are personal and do not affect other members of the teams but be disruptive to the team effectiveness and team work

If the student needs to answer a very urgent call then he/she must raise the hand and ask to be allowed to temporarily exit the class and, after terminating the call, return in class.

Any student leaving the class earlier then the regular hours will be considered absent for the whole class and, with him/her, the entire team to which he/she belongs. If a student must leave the class because of any urgent reason, early dismissal from class can be authorized only by the teacher who will then record time and reason of leaving.

The reading of other books related to any topic or subject not related to the current topic discussed by the teacher will be regarded and treated as the rules and regulations governing the unauthorized use of cell phones.

Projects, assignments and home works are to be handed over on a timely and punctual manner without exceptions. A delay of a minute but within same day will be awarded a cut of 10% of the possible mark. A delay of one day after the due deadline will be awarded a cut of 20% of the possible mark. Any further delay will only receive a passing mark when and if considered fitting the teaching standard requirements.

Students must not insist about being given chances and no reason will be entertained. The principle of Ladies and Gentlemen is applied overall the teaching, learning and class management.

Teacher’s Assistants (TAS)

The teacher selects in each class two or three teacher’s assistants. The TA will be helping, supporting and assisting the teacher in the management of the class covering areas like discipline, homework, project completion, attendance, student counselling, peers’ support and social and group activities suggested by the class.

The TAs have a monthly meeting with the teacher every second week of the month (in case of Holiday or unforeseen events the TA Monthly Meeting is postponed to the following week). During the meeting the TAs are expected to be present to represent their class. Eventually, in case of urgent matters, at least one TA out of two shall be present to the TA Monthly Meeting.

Each TA is responsible to ensure that all teams in the class do attend the semester’s office meeting with the teacher to be awarded the 5% as part of the final assessment.

TA is also charged with supervising the booking of the meetings between the teacher and the teams or students and to update the excel sheet for the purpose in the QQ group Teacher Assistant TIANFU.

Each TA is also in charge of the class QQ group and, as such, it is the duty of the TA to ensure the class members do make use of it in a very proficient way. Uploading and downloading files, and using, as much as possible, English language, stopping any sort of advertisement in the group in any forms and shapes, keeping the content of the group chats within the criteria conforming to the College’s directives and disciplinary conduct.

The TA shall also be considered a class leader and team leader and as such he shall conduct him or herself in a highly distinguished manner and be seen as role model by all the classes.

The TA is also considered an assistant manager to the teacher and, in such role, he/she represents and speaks on behalf of the teacher as instructed by the teacher and be the carrier of class feedback and suggestions to the teacher.

General Conduct and Behavior

The teacher will not implement any harsh ways of class management. The role of a teacher does not require the establishment of a despotic or authoritarian regime. As before mentioned, the class members will all be considered Ladies and Gentlemen and treated with, spoken to and addressed by respectful ways.

As such, adult behavior shall be the norm and not exception. High integrity and moral uphold with purely moral and ethical conduct shall not an expectation but rather a habit to be cultivated for the overall benefit and a fully rounded personal and educational growth.

A class member, fully conscious of possibilities in self-growth and development, will certainly express the inner and outer self in the best possible manner aiming at becoming a well admired and appreciated young mind.

The teacher shall support and advice the class member in any case or situation where the teacher shall be able to suggest solutions and, if none can be found, then the teacher shall find support and advice from external sources or higher levels in order to provide the most effective and efficient educational experience to the class member.

Course Assessment

The course assessment shall provide a complete evaluation of the student’s comprehensions of the fundamental concepts and methods of history of economics, with local and global analysis, and English language knowledge.

The student shall be assessed over two levels of participation: as personal interest and active participation to the class time and as member of a team in which he needs to perform with responsible academic behavior towards the members.

The assessment criteria of the course are as follows:

1)     Participation 10%

  1. a) Class participation is the assessment criteria based on class attendance, participation, note taking, homework, active dynamism in the learning process, and team work.

2)     Week 8 Mid Term Written Test Quiz 20% (Covering academic program covered from Week 1 to 7)

  1. a) The student will be given an in class test with a set of four objective questions (25% mark each complete answer) and the test will last 90 minutes. The student on the exam day will need to register 10 minutes in advance and be seated at the numbered seat allocated by the teacher. The student will need to bring two black ink pens, personal ID card and student card. Paper will be given by the teacher on the day together with the set of questions. The student will be allowed to bring water or any other non-intoxicating drink in class. Any form of cheating will not be tolerated and the student will be invited to leave the class and be given a failure mark

3)     Quizs and Assignments given on a weekly basis 30%

  1. a) Every student will be randomly asked to answer four questions orally during the semester. Each valid answer will be marked 25%. The only language used is English and the student needs to be aware that the Random Oral Test will be randomly asked during the weekly lecturing time at the sole discretion to the lecturer

4)     Week 14 Pre Final Exam Written Test 20% (Covering academic program covered from Week 8 to 12)

  1. a) The student will be given an in-class test with a set of four objective questions (25% mark each complete answer) and the test will last 90 minutes. The student on the exam day will need to register 10 minutes in advance and be seated at the numbered seat allocated by the teacher. The student will need to bring two black ink pens, personal ID card and student card. Paper will be given by the teacher on the day together with the set of questions. The student will be allowed to bring water or any other non-intoxicating drink in class. Any form of cheating will not be tolerated and the student will be invited to leave the class and be given a failure mark

5)     Week 17 Final Exam Written Test 20% (Covering academic program covering from Week 13 to 16)

  1. a) The student will be given an in class test with a set of four objective questions (25% mark each complete answer) and the test will last 90 minutes. The student on the exam day will need to register 10 minutes in advance and be seated at the numbered seat allocated by the teacher. The student will need to bring two black ink pens, personal ID card and student card. Paper will be given by the teacher on the day together with the set of questions. The student will be allowed to bring water or any other non-intoxicating drink in class. Any form of cheating will not be tolerated and the student will be invited to leave the class and be given a failure mark

1)    All TEACHING REFERENCES, complementary reading and lectures are delivered in English and English is the sole medium of learning, studying and communication in class.

2)    Students lacking the necessary language skills are sincerely encouraged to find time and resources to dedicate towards the improvement of their language skills and knowledge in order of being able to successfully pass the exams.

3)    ALL MATERIAL OF THE COURSE IS EITHER UPLOADED IN THE CLASS QQ GROUP OR IS DOWNLOADABLE FROM THE INSTRUCTOR’S WEBSITE

https://grandemareopenseatoknowledge.wordpress.com/

The lecturer shall provide the students with office time and weekly fixed quantity of available hours in order to further enhance and encourage the students in learning and asking questions and seeking answers.

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