Course Syllabus

UNIVERSITY OF MARY

 

ECN 101

ECONOMICS OF SOCIAL ISSUES

 

Semester/Term and Year: Fall 2016

Credit Hours  3

Course Location: Weld Library 141

Instructor Dr. Ivan Jankovic

Course Format:  Seated

Course Schedule  TR, 12:30-1:45

 

Major Requirement and Liberal Arts Core Elective

 

 

Office Hours:  TR, 2:00-3:00

Office Location: Welder Library 172           

Phone Number: 701.355.8025         

Email: ijankovic@umary.edu

 

 

Course Description:

 

The goal of the course is to introduce the students to basic principles of economic theory and policy and to apply those principles to some of the pertinent social issues of our time. It strives to encourage students to think about the world as economists, by using theoretical concepts and methodological procedures of economic science, as well as to equip them with analytical skills necessary to apply those economic principles to a wide variety of social problems, some of which are not always considered “economic” in nature, such as: inequality, crime, environmental pollution, gender and racial discrimination, relationship between intellectuals and markets, and so on.

 

Course Outcomes:  

 

The student will be able to:

 

O1       Understand and express in oral and written form the basic principles of economic analysis and economic policy.

O2       Apply in written and oral form the principles of economic analysis to selected social issues.

O3       Develop a basic interdisciplinary understanding of the relationship between economics and other social and humanistic disciplines.

O4       Develop organizational and academic skills.

     

 

Major Assignments:

 

Quizzes (O1-O4)

Writing a short essay on an economic topic (O1-O4)

Midterm Exam (O1-O4)

Final Exam (O1-O4)

 

 

Methods for Evaluation and Grading:

The final grade is the weighted average of the following grades:

 

Midterm exam 20%

Final exam 35%

Class participation 20%

Short essay 10%

Quizzes 15%

 

Grading scale:

90 – 100% A

80 – 89% B

70 – 79% C

60 – 69% D

0 – 59% F

 

The midterm and final exams will include a combination of multiple choice and short essay questions.

 

There will be five announced short quizzes overall (15% of your grade), testing your understanding of the readings for that particular week.

 

Since this class will include extensive reading, it is essential that you read the material before class and participate in the discussions centered on them. I will not hesitate to call on you and ask for your opinion on the readings. To increase participation points read the required material before the class and keep track of it in your own notes.

 

You will write a short essay/reflection (2000-2500 words) on a novel or other work of art that elaborates on certain economic and social ideas studied in the course. More details about this assignment will be given in class.

 

Required Texts and Resource Materials:

 

 

Thomas Sowell. 2014. Basic Economics, 5^th edition. Basic Books.

 

ISBN-10: 0465060730

ISBN-13: 978-0-465-06073-3

 

Additional textbook (required):

Henry Hazlitt (1988[1946]), Economics in One Lesson. Crown Business Publisher.

 

For some weeks, there will be articles and other reading materials beyond these two textbooks, and all these additional materials will be posted on Canvas. In most cases they will the substitution for the textbook readings.

 

 

Expectations

 

Since this is a 3 semester credit undergraduate level course, you can expect to spend a minimum of 3 hours per week of instructional time and another 6 hours per week studying outside of instructional time.

 

Attendance Policy

 

Students are expected to attend all classes. Class participation impacts the final grade, as described above.

 

Statement on Academic Honesty:

 

The Honor Code guides and informs University policies on Academic Honesty. For the complete code, please refer to https://my.umary.edu/ICS/icsfs/Academic_Honor_Code_and_Honor_System.pdf?target=c71dccf1-9147-4a46-b04f-67a9b1460dee.

 

Channel for Communication Relating to this Course:

 

Instructor: Dr. Ivan Jankovic>Dr. Leroy Huizinga > Dr. David Fleischacker > Dr. Diane Fladeland

 

 

Statement Regarding Reasonable Accommodations: The University of Mary, in compliance with the Americans with Disabilities Act and in the spirit of our mission, offers support for students who provide required documentation. Students with disabilities who need accommodations should apply to the Office of Student Accessibility Services.   For further information,  Director of Student Accessibility Services in the Student Success Center, located in the lower level of Welder Library, at (701) 355-8264.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Tentative Reading Schedule:

 

Once again, it is essential that you read the assigned chapter(s) before the class. Below is the provisional schedule of the required readings - any changes and updates will be announced in class.

 

Date	Reading (Sowell, 2014): Hazlitt (1946)
Week 1	Introduction; Chapter 1 and Hazlitt ch.1: What is Economics? Chapter 2 and Hazlitt, ch.15: The Role of Prices.
Week 2	Chapter 3 and Hazlitt, chs 16 and 17: Price Controls Chapter 4: An Overview of Prices Chapter 5: The Rise and Fall of Business
Week 3	Chapter 6 and Hazlitt ch 21: The Role of Profits and Losses Chapter 7: The Economics of Big Business Chapter 8: Regulation and Anti-Trust Laws [additional articles]
Week 4	Chapter 9: Market and non-Market Economies Chapter 10: Productivity and Pay Chapter 11 and Hazlitt chs.18 and 19: Minimum Wage Laws
Week 5	Chapter 12 and Hazlitt ch.20: Special Problems in Labor Markets  Chapter 13: Invest Chapter 14: Stocks, Bonds, and Insurance
Week 6	Chapter 15: Special Problems of Time and Risk [plus video] Midterm Overview
Week 7	Midterm Exam Hazlitt chapters 23 and 24: Macroeconomics: Inflation and Money Articles: Inflation and Money
Week 8	Chapter 18: Government Functions Hazlitt, chs. 4-10
Week 9	Chapter 21: International Trade Chapter 22: International Transfers of Wealth Chapter 23: International Disparities in Wealth
Week 10	Chapter 24: Myths about Markets Articles: What is “social justice”?
Week 11	Articles: Protecting the environment: costs and benefits Articles: Climate change: costs and benefits.
Week 12	Articles: free markets and intellectuals [short essay due]
Week 13	Overview