SECTION I

SUBJECT AREA AND COURSE NUMBER: Economics 120
COURSE TITLE: Principles of Economics I
UNITS: 3

CATALOG COURSE DESCRIPTION:
(Use complete sentences, present tense, 600 characters-about 6 lines at 10 font using Times New Roman)
(.A brief description of the class)
This is an introduction to basic economic principles and theory relating to problem analysis, structure of our institutions and the formulation of public policies. Emphasis is placed on the broad overall performance (macro-analysis) of the economy with concentration in such areas as incomes, employment and output; economic stability and growth; fiscal and monetary policy.

(Explain the need the class will fulfill-prep for major, GE, job skill, etc.)
This course is intended for the transfer student planning to major in business, economics, or other social science degrees. This course meets general education, CSU IGETC, and TAG requirements. (FT)

TRANSFER CREDIT: CSU, UC CAN ECON 2 (articulation officer has this information-not the same at each college)

LECTURE HOURS PER WEEK: 3

LAB HOURS PER WEEK: 0

ADVISORY:
Completion of English 51 and 56 with a grade of “C” or better, or equivalent, or Assessment Skill Level W5 and R5.

Bloom’s Taxonomy - Action Verbs requiring Cognitive Outcomes - Begin course objectives with these verbs.

COURSE OBJECTIVES: Upon successful completion (licensing may require a grade or test score) of this course, the student will be able to: (Start with action verbs --Bloom's. Define the nature and scope of economics. Read, interpret, and develop economic graphs. Define and explain the concepts of scarcity, necessity of specialization, and comparative advantage in reaching maximum output levels; and evaluate the role of the U.S. in a global community. Appraise and evaluate the impact of various global decisions on the domestic economy, such as international monetary- and capital flows; multi- national corporations' use of technology, capital, and labor in a global marketplace; and effect of trade on the quality and availability of goods and services. Identify, utilize, and interpret various economic models such as production possibility curves, supply and demand, aggregate expenditure model, and aggregate supply and demand Analyze the concept of equilibrium level of national income and product by applying supply/demand concepts, and evaluate the various policies that can be applied to achieve desirable equilibrium levels. Measure national income and national product. Compare and contrast the role of capitalism in the domestic economy and the growth of capitalism in the global community, and compare the results of capitalism on an economy versus the effect of other economic systems. Interrelate the roles of business, government and the consumer, and analyze their respective effects in the market place. Apple fiscal and monetary policy options to achieve desirable domestic economic goals and analyze the effect of those decisions on the global community. Define the concepts of business fluctuations, inflation, and unemployment. Compare and contrast the global consequences of various nations' policies to control business fluctuations, inflation, and unemployment.

SECTION II 1. COURSE CONTENT AND SCOPE: A. OUTLINE OF TOPICS TO BE ADDRESSED IN THE COURSE (Outline reflects course description all topics covered in class, objectives. Sequential, but not one to one. Variable units--must show difference Two levels-technical courses may have more. ) (SIMILAR TO THE TABLE OFCONTENTS IN THE REQUIRED TEXT) Nature and scope of economics (level one) General introduction to terminology (level two) Methodology Scarcity and choice Rational behavior Economic Graphs Read Interpret Develop The United States in the global economy Growth of world trade Specialization and comparative advantage Foreign exchange market Government and trade Multilateral agreements and free-trade zones International monetary flows Multi-national corporations use of technology, capital. and labor Economic Models Demand Supply Aggregate expenditures theory Consumption and saving Investment The multiplier effect Aggregate demand Aggregate supply Equilibrium Market equilibrium Equilibrium--expenditures/output approach and leakage/injections approach International trade and equilibrium output Effect of government on equilibrium Equilibrium and full-employment GDP Equilibrium--real output and the price level Changes in equilibrium Measuring domestic output, national income, and the price level Gross domestic product Expenditures approach Income approach Measuring the price level Nominal and real GDP Global considerations Types of economic systems Capitalism Command Traditional Mixed Mixed economy--private and public sectors Household as income receivers Households as spenders Economic functions of business Economic functions of government Government policy Source of funds Appropriation of funds Budget deficit and public debt Discretionary and non-discretionary fiscal policy Global considerations Money and banking Supply, of money Demand for money The money, market The Federal Reserve system and how it functions How banks create money Money-creating transactions of commercial banks Monetary multiplier Federal Reserve Banks and monetary policy Purpose and function of the Federal Reserve System Tools of monetary policy Effectiveness of monetary policy Global considerations Macroeconomics instability--unemployment and inflation The business cycle. Unemployment Inflation Distribution and output effects of inflation Global considerations

B. APPROPRIATE READINGS

Students will be expected to understand and critique college level texts or the equivalent. Reading assignments may include but are not limited to the following:

(This section should specifically describe the type of reading assignments students will be asked to complete in order it) meet course objectives The list must include THREE or more items that are GENERALLY related to the subject matter stated in the objectives. The subject related items are in bold. Do not bold items in your outline.)

1. Assigned textbook.
2. Financial pages of daily newspaper such as The Wall Street Journal.
3. Economic journals such as Federal Reserve Bulletin.
4. Weekly current magazines such as The Economist and Buisness Week.
5. Corporate Financial Reports.
6. Reports by government agencies such as Economic Indicators.
7. Internet reports on economic issues.

C. WRITING ASSIGNMENTS

(This section should specifically describe the type of writing assignments students will be asked to complete in order to meet course objectives. The list must include THREE or store items that are GENERA LLY to the .subject matter stated in the objectives. The subject related items are in bold Do not bold items in your outline.)

Writing assignments are required. All written work will require application of analytical skills. Standard paper formats and structures will be applied. The results of this analysis will be communicated by written assignment. Appropriate writing assignments may include, but are not limited to the following:

1. Essay examinations.
2. Analytical semester projects that require the application of graphic analysis to economic problems.
3. Short essays involving written critiques and comparisons of economic graphs and theories.
4. Reviews of current periodicals such as Federal Reserve Bulletins, Economic Indicators, or The Economist.
5. Position papers.

D. APPROPRIATE OUTSIDE ASSIGNMENTS

(This section should help establish the rigor of the course. Two hours of appropriate outside assignments are required for every one hour of lecture. The list must include THREE or more items that are GENERALLY related to the subject matter stated in the objective. The subject related items are in bold Do not bold items in your outline.)

Out of class assignments are required These assignments may involve, but are not limited to:

1. Reading and writing assignments as specified in the course syllabus.
2. Library electronic and other archival research on a variety of economic subjects.
3. Viewing of assigned/recommended media materials.
4. Observations. e.g. field trips. to attend pertinent lectures/conferences.
5. Analytical semester project that require the application of graphic analysis to economic problems.
6. Position papers.
7. Reviews of current periodicals such as The Economist, Economic Indicators, or Federal Reserve Bulletins.

E. APPROPRIATE ASSIGNMENTS THAT DEMONSTRATE CRITICAL THINKING

(This section should specifically describe the type of critical thinking assignments students will be asked to complete in order to meet coarse objectives. Critical thinking requires independent analysis, comparison, inference, application, prediction or evaluation and must be reflected throughout the course. Examples of subject related items are in bold You must have at least THREE subject related items.)

Critical thinking assignments are required and may include but are not limited to the following:

1. Analyze and compare various economic models in different contemporary situations.
2. Apply economic theory d rules of model building to the analysis of contemporary issues.
3. Apply the various economic models to the analysis of alternative outcomes to contemporary events.
4. Review current periodicals.
5. Prepare position papers.

2. METHODS OF EVALUATION

(This section should define the ways students will demonstrate that they have met the course objectives. Examples of subject relater! items are in bold.)

A student's grade shall be determined by the instructor using multiple measures of performance related to the course objectives. Methods of evaluation may include but are not limited to the following:

1. In class objective examinations that test for definitions and major economic concepts.
2. Out of class writing assignments that test the application of economic theory to contemporary government, business, and consider decisions including:
   1. Take home essay examinations.
   2. Analytical semester projects.
   3. Position papers.
3. Supplementary activities:
   1. Participation in classroom situations that apply theory to current political, business, and consumer issues.
   2. Participation in field trips.
   3. Participation in group projects.
4. Class participation. including:
   1. Weekly exercises involving written critiques and comparisons of economic graphs and theories.
   2. Library and on-line Internet research.
   3. Oral presentations on a variety of economic subjects.

3.METHODS OF INSTRUCTION:

Methods of instruction may include, but are not limited to:

1. Lecture and usual aids.
2. Discussion and problem solving performed in class.
3. Quiz and examination review performed in class.
4. Optional materials available at the Independent Learning Center.
5. Homework and extended projects.
6. Field observation and field trip.
7. Guest speakers.
8. Collaborative projects.
9. Technically mediated instruction.
   1. T/V
   2. Internet.
   3. Point-to-point.

When this course is offered in a distance learning modality, no additional or special requirements in the areas of Course Content and Scope, Methods of Evaluation, and Required Texts will be necessitated except as specified in each of these sections of the course outline.. All methods of instruction, when used in conjunction with distance learning modality, will be implemented in an equivalent manner as in a traditional classroom setting. (Each student will receive effective regular contact.)

4. REQUIRED TEXTS AND SUPPLIES:

(The suggested texts must cover the Outline of Topics and be an appropriate instructional tool for achieving the objectives and implementing the methods of evaluation and instruction. Transfer classes need TWO college level texts.)

The required college-level textbooks may include, but are not limited to the following:

1. Bruce, Stanley L. & McConnell, Campbell R, Economics. New York, N.Y., McGraw Hill, 1996.
2. Miller, Roger L., Economics Today, New York, N.Y., Addison Wesley, 1997.
3. Current periodicals, such as:
   1. Council of Economic Advisers, Economic Indicators.
   2. Dow Jones & Company, Inc., The Wall Street Journal, New York, N.Y., Dow Jones & Company, Inc.
   3. The Federal Reserve Bank of Kansas City, Economic Review, Kansas City, Missouri, The Federal Reserve Bank of Kansas City.
   4. The Federal Reserve Bank of St. Louis, Review, St. Louis Missouri, The Federal Reserve Bank of St. Louis.
   5. The Federal Reserve Bank of St. Louis, National Economic Trends, St. Louis, Missouri, The Federal Reserve Bank of St. Louis.
   6. The Federal Reserve Bank of St. Louis, International Economic Trends, St. Louis, Missouri, The Federal Reserve Bank of St. Louis.
   7. The Federal Reserve Bank of St. Louis, Monetary Trends, St. Louis, Missouri, The Federal Reserve Bank of St. Louis.