ECN 211x - Macroeconomic Principles

Spring 2021

I. COURSE OVERVIEW

This is a 3-credit hour course on Macroeconomic Principles. This course builds

your understanding of the macroeconomy from the ground up. We look at how
the decisions that households and businesses make add up to the macroeconomic
outcomes and how they are measured in terms of indicators like GDP, inflation,
and the unemployment rate. We consider how the market mechanism affects
these economic outcomes and how the government can use both fiscal and
monetary policy to intervene in the market and affect macroeconomic
performance. Finally, we look at how economies around the world are
increasingly intertwined and how such globalization affects the macroeconomy.

We study these topics with an eye on three main questions: (1) Why are some
countries so much richer than others?, (2) Why is the current generation so much
better off than their grandparents and great-grandparents, and (3) Why does
economic activity fluctuate a lot over time?

While performing well in this course does not guarantee you will eventually chair
the Federal Reserve or have a seat on the Council of Economic Advisers, a good
understanding of the topics in this class will allow you to become better informed
about the direct implications of macroeconomic policies.
This course satisfies the Macroeconomic Principles (ECN211) requirement at
Arizona State University (ASU). This course may satisfy an introductory
macroeconomics course requirement at other institutions; however, you are
strongly encouraged to consult with your institution of choice to determine how
these credits will be applied to degree requirements prior to transferring credit.

Learning Objectives and Topics

By the end of this course, students should be able to:
● Apply marginal analysis to common economic decision problems
● Describe economic decisions households and businesses make
● Understand economic efficiency and sources of deviations from it
● Interpret main macroeconomic indicators commonly analyzed to follow
economy in real time
● Understand the main policy discussions related to fiscal and monetary
policy
● Describe the advantages of trade

Topics include:
● Main macroeconomic indicators and stylized facts
● Consumer and production theory
● Market equilibrium and general equilibrium
● Economic efficiency and deviations from efficiency
● Labor markets and unemployment
● Public finance and fiscal policy
● Money, banking, and monetary policy
● Globalization, trade, and exchange rates

W. P. Carey School of Business at ASU Learning Goals

The Undergraduate Program of the W.P. Carey School of Business has established
the following learning goals for its graduates which it also aims for in its Global
Freshman Academy courses. (items in bold have significant coverage in this
course):
1. Critical Thinking.
2. Communication.
3. Discipline Specific Knowledge.
4. Ethical Awareness and Reasoning.
5. Global Awareness.

II. WEEKLY ACTIVITIES AND TIME COMMITMENT

Class preparation means completing the assigned readings and reviewing all
information required for that week. Attendance in an online course means
logging into the course on a regular basis and participating in all of the activities
that are posted.

This 7.5-week, three- credit course requires 135 hours of student work. Therefore,
expect to spend approximately 12-18 hours per week preparing for and actively
participating in this course. The second week of this course is the most time
consuming. Class preparation means reviewing all material and completing all
assessments required in a given week.

Course Content and Assignments

Course structure
This 7.5-week course has 7 weeks (W) of course material. Each week contains two
parts (P). Every part is split up in different sections (S) and each section is made
up of units (U) that each focus on a narrow topic. Course content is coded as
follows: W-P-S-U. Units at the beginning of each section have an introductory
video. Subsequent units contain interactive learning objects followed by practice
problems, surveys, and topic-specific videos. The final section of each part is a
review section.

Interactive Learning Objects

The core material for this course is offered in a set of interactive learning objects
that allow you to do three things:
 ● Experiment with and learn about the main intuition behind economic
decisions and concepts covered
● Analyze the main macroeconomic indicators for the U.S. and compare them
with other countries
● Learn, both verbally and visually, about the main theoretical frameworks
applied in macroeconomics

Videos
● Short lectures from your instructional team on specific topics, designed to
introduce you to key concepts
● Guest lectures and interviews by and with experts in the field

Graded Assignments
Graded assignments are required, and count toward the final grade for students
planning to earn credit for this course. Students must submit all assignments in
the course unless otherwise instructed. Each assessment has submission
instructions. The instructor will assess student performance throughout the
course and will determine if a curve will be applied. If a curve is applied, it will be
implemented before the final exam opens.

Practice problems - 10%: Many units have practice problems at the end of them.
Because these are meant to practice the material and concepts in the units,
students are allowed an infinite number of tries to answer them. Note that the
practice problems about the prerequisites, Part 0-2, do not count towards your
grade.

Quizzes - 30%: There are 13 quizzes, one for each part (two a week), except for
part 7-1. Each quiz is open book, but must be completed by you (see the
Academic Integrity section). The quizzes are multiple choice and based on the
course material covered in each part. The quizzes are 30% of your total grade. You
may take a quiz at any time during the week but must complete it by the
stipulated deadline. Note that the quiz at the end of the prerequisites, Part 0-2,
does not count towards your grade.
Midterm Exam - 30%: The midterm is 30% of your total grade and covers content
from weeks 1 through 3.

Final Exam - 30%: The final exam is 30% of your total grade and covers content
from weeks 4 through 7. The Final Exam is a proctored exam. (Proctoring is
required for students interested in pursuing credit. More information follows
below, as well as in both the “Before the Course Begins” and in the “Final Exam
Overview” sections of the course.)

Ungraded Assignments
These assignments are optional but strongly encouraged in order to maximize
your learning, as well as interaction with your peers and course team.

Inline questions: The interactive learning objects are filled with inline questions
and fill-in exercises to keep you actively involved in the course material while
going through it. Completing these questions and exercises will significantly
improve your understanding of the course material and make you more prepared
for the quizzes, midterm, and final.

Surveys: The surveys in the course allow you to reflect on how the topics discuss
affect your daily life and to make up your mind about some of the most pressing
economic issues and questions we are struggling with.

Introductions: Please visit the “Introduce Yourself” subsection located in “Before

the Course Begins,” to tell the course team and class a little bit about yourself,
your community, and what health means to you in the course’s Introduce Yourself
discussion forum.

III. COURSE REQUIREMENTS AND COMMUNICATION

Course Requirements
Recommended Prior Knowledge: To be successful in this course, we recommend
English language fluency and basic math skills. Part 0-2 is designed for you to
check your familiarity with the prerequisites for the course.
Online Course Requirements: You will find all content and learning activities
within the course. All course interactions use Internet technologies. It is your
responsibility to watch all required videos, study the interactive learning objects,
and complete all graded assessments (quizzes, exams, interactives, and case
studies). You are encouraged to interact with your peers and course team in the
discussion forums, and ask questions there as well.

Course Communication
All communication will take place in discussion boards, course updates, and on
the course home page.

Each week, there will be a dedicated discussion board called “General Questions
Discussion Forum,” where you can post general questions and comments about
the subject matter, as well as any direct inquiries for the instructor and course
team. Please use this forum to ensure timely response.

IV. STUDENT EVALUATION

Here is the breakdown of how your performance is calculated in terms of your

final grade:

Weight Proctored
Item (# of
assignments) Graded

Practice problems 10% No Yes

Quizzes (13) 30% No Yes

 30% No Yes
Midterm Exam (Weeks
1-3)
30% Yes
Final Exam (Weeks 4- Yes (Credit Eligible Track)
7) No (Audit Track)

Final grades are based on the number of points you earn on the course activities
listed above. There is no extra credit available. You can see your percentage of
the total points to date on your course progress page. Final scores will be
absolute, there will be no + or - added to grades.

IMPORTANT NOTE: Please pay attention to course announcements, there is a

possibility of a grading curve to be applied to the final grade. This announcement
will be posted towards the end of the course.

You must pass the course with a grade of C or higher, and on the credit eligible
track, in order to be eligible for credit from Arizona State University.
Please note that exams that fail the proctoring review will result in an assignment
grade of 0. A student earning an overall grade of a C or higher who fails proctoring
is not eligible for course credit. If your proctored exam is marked suspicious, you
have up to 75 days from when you completed the exam to appeal the decision.
After that time, appeals will not be accepted or reviewed.

Note: You have up to one year to purchase credit after you become eligible.
Please see Section IX, below, “Taking this Course for ASU Credit,” for specifics on
fees and deadlines.

V. COURSE POLICIES

Assignment Deadlines: This is an online course. Your instructional team will

provide all content and learning activities in the course. All course interactions
will use Internet technologies; it is your responsibility to review all content, fulfill
all assignments on time, and ask any questions you have in our designated
discussion area. For more information, please see section VI, “UTC Time Zone”
below.

Late assignments will not be accepted at any point during the course. We
recommend that you establish your time management schedule for this course
during the first two days that the course is open to meet all course obligations.

Subject to Change Notice: This syllabus is to be used as a guide only. Information

contained here, such as assignments, grading scales, deadlines, and other
materials are subject to change. It is your responsibility to read the course
announcements regularly to be aware of any changes or updates in the course.

Academic Integrity: Academic honesty is expected of all students in all

coursework and exams. The possible sanctions include, but are not limited to,
appropriate grade penalties, course failure (indicated on the transcript as a grade
of E), course failure due to academic dishonesty (indicated on the transcript as a
grade of XE), loss of registration privileges, disqualification, and dismissal. For
more information, review ASU’s Academic Integrity Policy

Prohibition of Commercial Note Taking Services: In accordance with ACD 304-06

Commercial Note Taking Services, written permission must be secured from the
official instructor of the class in order to sell the instructor's oral communication
in the form of notes. Notes must have the notetaker's name as well as the
instructor's name, the course number, and the date.

Title IX: Title IX is a federal law that provides that no person be excluded on the
basis of sex from participation in, be denied benefits of, or be subjected to
discrimination under any education program or activity. Both Title IX and
university policy make clear that sexual violence and harassment based on sex is
prohibited. An individual who believes they have been subjected to sexual
violence or harassed on the basis of sex can seek support, including counseling
and academic support, from the university. If you or someone you know has been
harassed on the basis of sex or sexually assaulted, you can find information and
resources at https://sexualviolenceprevention.asu.edu/faqs.
As a mandated reporter, I am obligated to report any information I become aware
of regarding alleged acts of sexual discrimination, including sexual violence and
dating violence. ASU Counseling Services, https://eoss.asu.edu/counseling, is
available if you wish to discuss any concerns confidentially and privately.

VI. UTC TIME ZONE

To accommodate students from across the globe, all deadlines are posted in UTC
time, the global standard. Please see the “Course Information and Support” or
“Important Deadlines” subsections in “Before the Course Begins” for a detailed
explanation.

Remember, it is your responsibility to understand UTC and determine the due

dates and times for your time zone. Make sure you address this, ideally before the
first set of assignments is due, and definitely before the midterm, to avoid any
unnecessary stress. Deadline extensions will NOT be granted for
misunderstanding UTC time.

VII. GENERAL AND TECHNICAL REQUIREMENTS

This course is best accessed by a reasonably modern browser on a laptop or

desktop computer. You can also access course videos via a browser on your
mobile device.

Students who are interested in taking the course for credit will need additional
computer requirements and skills to access the remote proctor service. Please see
the Software Secure site, which details Proctor Now’s requirements.

If you are not certain about your system, it is highly recommended that you
complete the practice proctored exam in the “Before the Course Begins” section
to confirm system compatibility.
VIII. GENERAL AND TECHNICAL ASSISTANCE

Student Support and Accessibility: Please access the Learner’s Guide for solutions
to common problems, and review the “Student Support” page in the “Before the
Course Begins” section for further information.

Accessibility: If you are a student with a disability, and you would like to request
an accommodation, please send an email to [email protected].

Proctoring: For students taking the midterm and final exams proctored, please do
the following to address any technical issues:

1. Contact our proctoring partner, Software Secure, at 1-855-436-2039.

2. Send an email to edX at [email protected]

Both Software Secure and ASU must be informed of the issue to ensure resolution.

Please put “Problem with proctored exam” in the subject line. Also, provide as
much information as possible, including screenshots, error messages, and urgency
due to upcoming deadlines.

IX. TAKING THIS COURSE FOR ASU CREDIT

ASU Credit: Students wishing to take this course for ASU credit are required to do
the following:
● Opt to Upgrade for this course by January 19, 07:00 UTC
● Opt in to proctoring for the final exam
● Pass the course with a C or better

Please note that exams that fail the proctoring review will result in an
assignment grade of 0. If your proctored exam is marked suspicious, you have
up to 75 days from when you completed the exam to appeal the decision. After
that time, appeals will not be accepted or reviewed.
Important: Provided you have met all requirements for this course, you can
purchase credit from ASU for up to one year after you become credit eligible.

Your date of eligibility may differ from the course end date or the date certificates
are issued. Please visit your course progress page, specifically the “Requirements
for Course Credit” section, to see the status of your credit eligibility.

Please review “Important Information on Credit Eligibility and Proctoring” in your

“Before the Course Begins” section for additional details.

Note: Potential limitations of internet connectivity by some countries are beyond

the control of Arizona State University and may limit the ability of a credit-eligible
student residing in those countries to complete all the assessments, and therefore
potentially impede the eligibility to earn college credit. Students impacted by such
limitations should contact [email protected].