Syllabi

UNIVERSITY OF MICHIGAN-FLINT
Taught at: the International Academy of Business and Banking
October 1999

Professor: Dr. Mark J. Perry
Office: XXX
Telephone: XXX
Email: mjperry@aumich.edu
Office Hrs: Before and after class, and by appointment

Textbook: Introduction to Economics: The Wealth and Poverty of Nations, by James Gwartney and Richard Stroup

Course Objective:
To understand the principles and mechanics of how the economy operates at both the macro and microeconomic level. Emphasis will be placed on the economic way of thinking and how economic thinking is used for business decision-making. Basic concepts in the economic organization of the microeconomy will be reviewed, including price theory, production theory, consumer theory, business structure, resource markets, and the role of government. The emphasis of the class will be on practical applications of microeconomic principles so that students can understand how economic theory can be applied to business decisions.

Basic concepts in the economic organization of the macroeconomy will be reviewed, including inflation, unemployment, national income, interest rates, monetary policy, fiscal policy, international trade, money and banking and the role of government. The emphasis of the macro part of the class will be on how monetary and fiscal policy issues affects the economy.

Pre-Test:
A pre-test (40 multiple choice questions) will be given before the class begins. The results of this test will not directly affect your grade, but will be used as an assessment tool to determine students' background in economics.

Grades:
Grades will be based on the following:
Take Home Midterm Examination 100 points (50 % )
Four quizzes (first week) 40 points (20 % )
Final Examination, in class 60points (30
TOTAL 200 points

Letter grades will be approximately as follows: A 90-100 % , B 80-89.9 % , C 7079.9 % , D 60-69.9 % , F less than 60 % . Pluses and minuses will be given.

Exams and Quizzes:
A ten point quiz will be given at the beginning of each class during the first week (except Monday) on the material that was covered the previous day. These quizzes will be multiple choice questions, similar to the questions in the Self-Test sections at the end of the chapters in the text. The midterm examination will consist of 100 multiple choice questions from the test bank and will cover Parts I and II from the textbook (chapters 1-11). The final examination will cover parts III and IV (chapters 12-19) from the textbook and handouts given out in class. The final exam will be approximately 60 multiple choice questions.

Attendance:
Regular attendance is expected. Poor class attendance may be reflected in final grade.

Web Page:
There is a web page for this course, which contains the lecture notes at spruce. flirit.umich.edu/-mjperry. Look for "MGT 551 - Business Economics" under "Class Notes" on the home page.

Course Schedule:
WEEK 1 - During the first week of class, we will do the following: a. cover the material in Chapters 1-9 (Micro) during lectures which will last about fours per day (during three IABB academic periods). b. watch the "Power of the Market" videotape by Milton Friedman c. have four, ten point quizzes daily from Tuesday-Friday d. on Friday, I will hand out the take-home exam on the material from Chapters 1-9, which will be due in class on Friday, Oct 22.

WEEK 2 -
During the second week we will do the following: a. cover the material in Chapters 12-18 (Macro) during lectures which will last about four hours per day (during three IABB academic periods). b. go over the take-home exam on Friday, Oct. 22, and review for the final examination. The final examination will be administered approximately one week after the end of class, about October 29.

See also list of students