Principles of Macroeconomics: ECON 202 

About the Textbook

Principles of Economics

Description:  

Principles of Economics covers scope and sequence requirements for a two-semester introductory economics course. The authors take a balanced approach to micro- and macroeconomics, to both Keynesian and classical views, and to the theory and application of economics concepts. The text also includes many current examples, which are handled in a politically equitable way. 

Senior Contributing Authors:

•  Steven A. Greenlaw - University of Mary Washington
• Timothy Taylor - Macalester College 

Formats:  

The book is available online and as a PDF. It is also available as a printed copy from Amazon for $38.50.

Supplemental resources: 

A Student Getting Started Guide is available as well as Instructor Resources such as a Getting Started Guide, Sample Syllabus Language, Instructor Solutions Manual, Test Bank and PowerPoint Slides. 

Peer reviews: 

This book has not yet been peer reviewed.

Cost savings:  

I previously used Principles of Macroeconomics by Gregory Mankiw, which retails for $187 on Amazon. Since I teach about 235 students each year, the total cost savings for students is about $45,945.

Accessibility and diversity statement: 

Yes. The text can be accessed on both mobile devices and computers. The college has numerous computers for those to use that do not have access to them otherwise. Not all formats of the textbook have been evaluated yet, but the most recent version is available in a Bookshare format, which supports DAISY and Braille-Ready-Format (BRF).

License:

This textbook is licensed with a Creative Commons Attribution 4.0 International License. This means you are free to copy and redistribute the material in any medium or format and remix, transform, and build upon the material for any purpose, even commercially. You must give appropriate credit, provide a link to the license, and indicate if changes were made. You may do so in any reasonable manner, but not in any way that suggests the licensor endorses you or your use.

About the Course

ECON 202: Principles of Macroeconomics

Description:  

The economy is the subject of study in this course. Includes gross domestic product, inflation, unemployment, interest rates, monetary policy, fiscal policy, budget deficits, trade deficits, international trade, exchange rates, business cycles, expectations, and a comparison of different macroeconomic schools of thought. 

Prerequisites: None

GE credit: 3 units 

Learning outcomes:

Upon successful completion of the course the student will be able to: 

• Apply economic terminology to describe and explain the fundamental assumptions of economic analysis. 
• Interpret and create economic graphs. 
• Use economic graphs to explain demand, supply and market equilibrium and government price controls. 
• Calculate price levels and real and nominal gross domestic product (GDP) in a variety of given economic scenarios. 
• Compare and contrast economic systems. 
• Explain the economic functions of the government. 
• Identify government revenue and tax sources. 
• Differentiate among tax structures and calculate taxes under each. 
• Analyze and fiscal and monetary policy using macroeconomic models. 
• Explain the banking and monetary system and analyze the role of money, credit and the Federal Reserve in the national economy. 
• Assess the effects of unemployment and inflation on various sectors of the economy. 
• Analyze the role of international trade and finance in domestic economic activity. 
• Identify and analyze the factors that contribute to economic growth and development.

Curricular changes:

I did change both my textbook and syllabus due to this adoption. The biggest curricular changes involved definitions and chapter numbers compared to my previous text. I tried to stay consistent with the definitions in the textbook and altered the chapter sequence to set the course up in the sequence that I prefer to teach the material. Additionally I used the embedded links in the textbook to illustrate points during my lessons on the chapters.

Teaching and learning impacts:

Collaborate more with other faculty: Yes      
Use wider range of teaching materials: Yes
Student learning improved: No
Student retention improved: No
Any unexpected results: No

I have discussed teaching materials with my colleagues who also use OER texts. 

I now use a wider array of internet-based resources due to the number of imbedded urls that are in the text.

I looked at the student results on some problem sets that I maintained from my previous few semesters to see how these students would fare on identical questions to those the previous students faced.  While not a perfect study it did not appear that there was much of a difference in student performance this semester as compared to last.

Students:

The majority of students are freshman and sophomores, although there are occasionally juniors and seniors as well. Sophomores tend to make up the largest percentage of students in these courses. The vast majority of students are Business majors. The students come from a wide range of socio-economic demographics

Sample assignment and syllabus:

Assignment
This is an example of a problem set of questions for this class.

Syllabus
This is the syllabus I used for Spring 2017.

Textbook Adoption

OER Adoption Process

I know that textbook cost is a big concern among students and I wanted to do what I could to help ease the financial burden they face each semester when buying books.  I felt that one of the obstacles facing some students in the class is that they were not able to afford the textbook and thus were at a disadvantage when trying to maximize their potential in the class.  Additionally this OER resource would be available to them on any device as long as they had internet access.

I spoke with other faculty to see what they were doing and browsed OER sites myself until I found one that I thought was a good fit for my class.  Once I identified an OER text, I evaluated the resources that were available to see how they might contribute to my course.

Student access:  

Most students access the book online, but it  is available as a PDF and on iBooks at a cost. They can also purchase a printed copy from Amazon.

Student feedback or participation:

The students I spoke with seemed to like the online textbook.  They found it very easy to access and use.  They were elated with the fact that the textbook was free. 

• I loved not having to purchase a book that was available to me at all times.
• 10/10.  Would love to have this in another class
• The use of free resources in this class was so convenient
• It was helpful and convenient. More professors need to incorporate this free text program
• This was an amazing provision. I wish all my classes were like this. Please provide this for all classes!
• I liked the CALM project.  It saved me a lot of money.
• Awesome idea!  Keep it going!

Best Practices:

I spoke with some of my peers to inform them as to what I was doing and how it was going throughout the process.  Some faculty were interested in what I thought of this resource and how the course was going with its use.

Mark Abajian, Ph.D.  

I am an economics professor at the California State University, San Marcos. 

I believe my primary goal is improving student learning.  I feel everyone is capable of achieving their educational goals.  Since learning occurs in many forms, I vary my instructional styles to accommodate all types of learners.  

 I firmly believe that economics should be an integral part of a quality curriculum.  Thus, I strive to make the courses I teach reflect this belief.  The goals for my courses continue to include teaching my students to “think like an economist”, which will help them better understand the world around them, teaching them to make better economic decisions in their lives, and preparing them for upper division courses in economics and business. My major goal in organizing and planning courses and lessons continues to be the enhancement of student learning.  This not only includes learning skills specific to economics, but core portable skills as well. 

I structure my courses so that I am able to teach to all types of learning styles (visual, audio, and active learners), since most courses have a diverse student population  By offering specific types of assignments, I am able to accomplish one or more of the desired learning strategies.  For example, an assignment that asks a student to find an article discussing a current economic event that illustrates a particular topic and answer questions about the article incorporates critical thinking skills, reading skills, and writing skills in one assignment.  I also describe each key learning point in a variety of ways so as to reach all of my students.  I use words, graphs, and symbols to illustrate key concepts.  

I continue teach my courses in a variety of ways in order to enhance student learning.  Doing so allows me to better reach all of my students.  From the first day of class, my courses are structured so student learning will be enhanced.  I ensure that all my course syllabi clearly state the course objectives, the student learning outcomes, explain the methods of evaluation, and include a course calendar listing specific dates for all pertinent course information, such as due dates and lecture topics.  This material is discussed with the students during the first day of class to ensure they know exactly what the course entails and what I expect of them.  

My main research area of interest is Sports Economics.