1 Saint Leo University ECO 201 Principles o.docxmarilynnhoare
1
Saint Leo University
ECO 201
Principles of Macroeconomics
Course Description:
An introduction to the study of the determination of income, output, employment, and prices in the U.S.
economy. Emphasis on fundamental economic concepts, gross domestic product and its components,
monetary and fiscal policy, and contemporary macroeconomic issues.
Prerequisite:
None
Textbooks:
The textbook information which appears on our Saint Leo Bookstore ordering site is as follows:
Saint Leo University. Economics Today (Custom). ISBN: 9781323789582
Your custom textbook was created from the following National text(s):
Economics Today (Complete): Miller, R. L. (2018). Economics today(19th ed.). New York, NY: Pearson
Education. ISBN: 9780134478777
Learning Outcomes:
1. Explain the concepts of scarcity, opportunity cost, and the role of incentives in decision making.
2. Explain the primary statistics used to measure income, output, employment, and prices in the
aggregate economy.
3. Develop the basic Aggregate Supply/Aggregate Demand (AS/AD) Model.
4. Describe Monetary and Fiscal Policy within the context of the AS/AD model.
5. Relate the concept of deficit to debt by comparing government expenditures to government revenues.
6. Recognize the importance of specialization by comparative advantage in the face of globalization.
7. Distinguish between the balance of trade and the balance of payments.
8. VALUES OUTCOME: Integrate the relevance of Responsible Stewardship in the context of
macroeconomic analysis.
Core Value:
Responsible Stewardship: Our Creator blesses us with an abundance of resources. We foster a spirit of
service to employ our resources to university and community development. We must be resourceful. We
must optimize and apply all of the resources of our community to fulfill Saint Leo University's mission and
goals.
Evaluation:
Chapter Tests (55%)
Homework (10%)
Discussion (10%)
Writing Assignment (10%)
Final Course Assessment (10%)
Peregrine Formative Assessment (5%)
Tests:
2
The graded chapter tests in this class will occur in Modules 2-8, with practice tests in Module 1. All tests
will be completed online, through MyEconLab which is already embedded within D2L. Tests will cover the
material in the textbook and AVPs. The online homework assignments should be completed prior to
taking the tests, as they will help to better prepare you. There is one test per chapter, regardless of the
number of chapters covered per module.
Homework:
All homework assignments will be completed online, through MyEconLab which is already embedded
within D2L. There is one assignment per chapter, regardless of the number of chapters covered per
module. You are allowed two attempts per question.
Discussion:
There will be one required discussion question per module. The discussion questions ask you to apply th.
1 Saint Leo University ECO 201 Principles otroutmanboris
1
Saint Leo University
ECO 201
Principles of Macroeconomics
Course Description:
An introduction to the study of the determination of income, output, employment, and prices in the U.S.
economy. Emphasis on fundamental economic concepts, gross domestic product and its components,
monetary and fiscal policy, and contemporary macroeconomic issues.
Prerequisite:
None
Textbooks:
The textbook information which appears on our Saint Leo Bookstore ordering site is as follows:
Saint Leo University. Economics Today (Custom). ISBN: 9781323789582
Your custom textbook was created from the following National text(s):
Economics Today (Complete): Miller, R. L. (2018). Economics today(19th ed.). New York, NY: Pearson
Education. ISBN: 9780134478777
Learning Outcomes:
1. Explain the concepts of scarcity, opportunity cost, and the role of incentives in decision making.
2. Explain the primary statistics used to measure income, output, employment, and prices in the
aggregate economy.
3. Develop the basic Aggregate Supply/Aggregate Demand (AS/AD) Model.
4. Describe Monetary and Fiscal Policy within the context of the AS/AD model.
5. Relate the concept of deficit to debt by comparing government expenditures to government revenues.
6. Recognize the importance of specialization by comparative advantage in the face of globalization.
7. Distinguish between the balance of trade and the balance of payments.
8. VALUES OUTCOME: Integrate the relevance of Responsible Stewardship in the context of
macroeconomic analysis.
Core Value:
Responsible Stewardship: Our Creator blesses us with an abundance of resources. We foster a spirit of
service to employ our resources to university and community development. We must be resourceful. We
must optimize and apply all of the resources of our community to fulfill Saint Leo University's mission and
goals.
Evaluation:
Chapter Tests (55%)
Homework (10%)
Discussion (10%)
Writing Assignment (10%)
Final Course Assessment (10%)
Peregrine Formative Assessment (5%)
Tests:
2
The graded chapter tests in this class will occur in Modules 2-8, with practice tests in Module 1. All tests
will be completed online, through MyEconLab which is already embedded within D2L. Tests will cover the
material in the textbook and AVPs. The online homework assignments should be completed prior to
taking the tests, as they will help to better prepare you. There is one test per chapter, regardless of the
number of chapters covered per module.
Homework:
All homework assignments will be completed online, through MyEconLab which is already embedded
within D2L. There is one assignment per chapter, regardless of the number of chapters covered per
module. You are allowed two attempts per question.
Discussion:
There will be one required discussion question per module. The discussion questions ask you to apply th ...
1 Saint Leo University ECO 201 Principles o.docxadkinspaige22
1
Saint Leo University
ECO 201
Principles of Macroeconomics
Course Description:
An introduction to the study of the determination of income, output, employment, and prices in the U.S.
economy. Emphasis on fundamental economic concepts, gross domestic product and its components,
monetary and fiscal policy, and contemporary macroeconomic issues.
Prerequisite:
None
Textbooks:
The textbook information which appears on our Saint Leo Bookstore ordering site is as follows:
Saint Leo University. Economics Today (Custom). ISBN: 9781323789582
Your custom textbook was created from the following National text(s):
Economics Today (Complete): Miller, R. L. (2018). Economics today(19th ed.). New York, NY: Pearson
Education. ISBN: 9780134478777
Learning Outcomes:
1. Explain the concepts of scarcity, opportunity cost, and the role of incentives in decision making.
2. Explain the primary statistics used to measure income, output, employment, and prices in the
aggregate economy.
3. Develop the basic Aggregate Supply/Aggregate Demand (AS/AD) Model.
4. Describe Monetary and Fiscal Policy within the context of the AS/AD model.
5. Relate the concept of deficit to debt by comparing government expenditures to government revenues.
6. Recognize the importance of specialization by comparative advantage in the face of globalization.
7. Distinguish between the balance of trade and the balance of payments.
8. VALUES OUTCOME: Integrate the relevance of Responsible Stewardship in the context of
macroeconomic analysis.
Core Value:
Responsible Stewardship: Our Creator blesses us with an abundance of resources. We foster a spirit of
service to employ our resources to university and community development. We must be resourceful. We
must optimize and apply all of the resources of our community to fulfill Saint Leo University's mission and
goals.
Evaluation:
Chapter Tests (55%)
Homework (10%)
Discussion (10%)
Writing Assignment (10%)
Final Course Assessment (10%)
Peregrine Formative Assessment (5%)
Tests:
2
The graded chapter tests in this class will occur in Modules 2-8, with practice tests in Module 1. All tests
will be completed online, through MyEconLab which is already embedded within D2L. Tests will cover the
material in the textbook and AVPs. The online homework assignments should be completed prior to
taking the tests, as they will help to better prepare you. There is one test per chapter, regardless of the
number of chapters covered per module.
Homework:
All homework assignments will be completed online, through MyEconLab which is already embedded
within D2L. There is one assignment per chapter, regardless of the number of chapters covered per
module. You are allowed two attempts per question.
Discussion:
There will be one required discussion question per module. The discussion questions ask you to apply th.
1
Saint Leo University
ECO 201
Principles of Macroeconomics
Course Description:
An introduction to the study of the determination of income, output, employment, and prices in the U.S.
economy. Emphasis on fundamental economic concepts, gross domestic product and its components,
monetary and fiscal policy, and contemporary macroeconomic issues.
Prerequisite:
None
Textbooks:
The textbook information which appears on our Saint Leo Bookstore ordering site is as follows:
Saint Leo University. Economics Today (Custom). ISBN: 9781323789582
Your custom textbook was created from the following National text(s):
Economics Today (Complete): Miller, R. L. (2018). Economics today(19th ed.). New York, NY: Pearson
Education. ISBN: 9780134478777
Learning Outcomes:
1. Explain the concepts of scarcity, opportunity cost, and the role of incentives in decision making.
2. Explain the primary statistics used to measure income, output, employment, and prices in the
aggregate economy.
3. Develop the basic Aggregate Supply/Aggregate Demand (AS/AD) Model.
4. Describe Monetary and Fiscal Policy within the context of the AS/AD model.
5. Relate the concept of deficit to debt by comparing government expenditures to government revenues.
6. Recognize the importance of specialization by comparative advantage in the face of globalization.
7. Distinguish between the balance of trade and the balance of payments.
8. VALUES OUTCOME: Integrate the relevance of Responsible Stewardship in the context of
macroeconomic analysis.
Core Value:
Responsible Stewardship: Our Creator blesses us with an abundance of resources. We foster a spirit of
service to employ our resources to university and community development. We must be resourceful. We
must optimize and apply all of the resources of our community to fulfill Saint Leo University's mission and
goals.
Evaluation:
Chapter Tests (55%)
Homework (10%)
Discussion (10%)
Writing Assignment (10%)
Final Course Assessment (10%)
Peregrine Formative Assessment (5%)
Tests:
2
The graded chapter tests in this class will occur in Modules 2-8, with practice tests in Module 1. All tests
will be completed online, through MyEconLab which is already embedded within D2L. Tests will cover the
material in the textbook and AVPs. The online homework assignments should be completed prior to
taking the tests, as they will help to better prepare you. There is one test per chapter, regardless of the
number of chapters covered per module.
Homework:
All homework assignments will be completed online, through MyEconLab which is already embedded
within D2L. There is one assignment per chapter, regardless of the number of chapters covered per
module. You are allowed two attempts per question.
Discussion:
There will be one required discussion question per module. The discussion questions ask you to apply th.
1 Saint Leo University ECO 201 Principles o.docxmarilynnhoare
1
Saint Leo University
ECO 201
Principles of Macroeconomics
Course Description:
An introduction to the study of the determination of income, output, employment, and prices in the U.S.
economy. Emphasis on fundamental economic concepts, gross domestic product and its components,
monetary and fiscal policy, and contemporary macroeconomic issues.
Prerequisite:
None
Textbooks:
The textbook information which appears on our Saint Leo Bookstore ordering site is as follows:
Saint Leo University. Economics Today (Custom). ISBN: 9781323789582
Your custom textbook was created from the following National text(s):
Economics Today (Complete): Miller, R. L. (2018). Economics today(19th ed.). New York, NY: Pearson
Education. ISBN: 9780134478777
Learning Outcomes:
1. Explain the concepts of scarcity, opportunity cost, and the role of incentives in decision making.
2. Explain the primary statistics used to measure income, output, employment, and prices in the
aggregate economy.
3. Develop the basic Aggregate Supply/Aggregate Demand (AS/AD) Model.
4. Describe Monetary and Fiscal Policy within the context of the AS/AD model.
5. Relate the concept of deficit to debt by comparing government expenditures to government revenues.
6. Recognize the importance of specialization by comparative advantage in the face of globalization.
7. Distinguish between the balance of trade and the balance of payments.
8. VALUES OUTCOME: Integrate the relevance of Responsible Stewardship in the context of
macroeconomic analysis.
Core Value:
Responsible Stewardship: Our Creator blesses us with an abundance of resources. We foster a spirit of
service to employ our resources to university and community development. We must be resourceful. We
must optimize and apply all of the resources of our community to fulfill Saint Leo University's mission and
goals.
Evaluation:
Chapter Tests (55%)
Homework (10%)
Discussion (10%)
Writing Assignment (10%)
Final Course Assessment (10%)
Peregrine Formative Assessment (5%)
Tests:
2
The graded chapter tests in this class will occur in Modules 2-8, with practice tests in Module 1. All tests
will be completed online, through MyEconLab which is already embedded within D2L. Tests will cover the
material in the textbook and AVPs. The online homework assignments should be completed prior to
taking the tests, as they will help to better prepare you. There is one test per chapter, regardless of the
number of chapters covered per module.
Homework:
All homework assignments will be completed online, through MyEconLab which is already embedded
within D2L. There is one assignment per chapter, regardless of the number of chapters covered per
module. You are allowed two attempts per question.
Discussion:
There will be one required discussion question per module. The discussion questions ask you to apply th.
1 Saint Leo University ECO 201 Principles otroutmanboris
1
Saint Leo University
ECO 201
Principles of Macroeconomics
Course Description:
An introduction to the study of the determination of income, output, employment, and prices in the U.S.
economy. Emphasis on fundamental economic concepts, gross domestic product and its components,
monetary and fiscal policy, and contemporary macroeconomic issues.
Prerequisite:
None
Textbooks:
The textbook information which appears on our Saint Leo Bookstore ordering site is as follows:
Saint Leo University. Economics Today (Custom). ISBN: 9781323789582
Your custom textbook was created from the following National text(s):
Economics Today (Complete): Miller, R. L. (2018). Economics today(19th ed.). New York, NY: Pearson
Education. ISBN: 9780134478777
Learning Outcomes:
1. Explain the concepts of scarcity, opportunity cost, and the role of incentives in decision making.
2. Explain the primary statistics used to measure income, output, employment, and prices in the
aggregate economy.
3. Develop the basic Aggregate Supply/Aggregate Demand (AS/AD) Model.
4. Describe Monetary and Fiscal Policy within the context of the AS/AD model.
5. Relate the concept of deficit to debt by comparing government expenditures to government revenues.
6. Recognize the importance of specialization by comparative advantage in the face of globalization.
7. Distinguish between the balance of trade and the balance of payments.
8. VALUES OUTCOME: Integrate the relevance of Responsible Stewardship in the context of
macroeconomic analysis.
Core Value:
Responsible Stewardship: Our Creator blesses us with an abundance of resources. We foster a spirit of
service to employ our resources to university and community development. We must be resourceful. We
must optimize and apply all of the resources of our community to fulfill Saint Leo University's mission and
goals.
Evaluation:
Chapter Tests (55%)
Homework (10%)
Discussion (10%)
Writing Assignment (10%)
Final Course Assessment (10%)
Peregrine Formative Assessment (5%)
Tests:
2
The graded chapter tests in this class will occur in Modules 2-8, with practice tests in Module 1. All tests
will be completed online, through MyEconLab which is already embedded within D2L. Tests will cover the
material in the textbook and AVPs. The online homework assignments should be completed prior to
taking the tests, as they will help to better prepare you. There is one test per chapter, regardless of the
number of chapters covered per module.
Homework:
All homework assignments will be completed online, through MyEconLab which is already embedded
within D2L. There is one assignment per chapter, regardless of the number of chapters covered per
module. You are allowed two attempts per question.
Discussion:
There will be one required discussion question per module. The discussion questions ask you to apply th ...
1 Saint Leo University ECO 201 Principles o.docxadkinspaige22
1
Saint Leo University
ECO 201
Principles of Macroeconomics
Course Description:
An introduction to the study of the determination of income, output, employment, and prices in the U.S.
economy. Emphasis on fundamental economic concepts, gross domestic product and its components,
monetary and fiscal policy, and contemporary macroeconomic issues.
Prerequisite:
None
Textbooks:
The textbook information which appears on our Saint Leo Bookstore ordering site is as follows:
Saint Leo University. Economics Today (Custom). ISBN: 9781323789582
Your custom textbook was created from the following National text(s):
Economics Today (Complete): Miller, R. L. (2018). Economics today(19th ed.). New York, NY: Pearson
Education. ISBN: 9780134478777
Learning Outcomes:
1. Explain the concepts of scarcity, opportunity cost, and the role of incentives in decision making.
2. Explain the primary statistics used to measure income, output, employment, and prices in the
aggregate economy.
3. Develop the basic Aggregate Supply/Aggregate Demand (AS/AD) Model.
4. Describe Monetary and Fiscal Policy within the context of the AS/AD model.
5. Relate the concept of deficit to debt by comparing government expenditures to government revenues.
6. Recognize the importance of specialization by comparative advantage in the face of globalization.
7. Distinguish between the balance of trade and the balance of payments.
8. VALUES OUTCOME: Integrate the relevance of Responsible Stewardship in the context of
macroeconomic analysis.
Core Value:
Responsible Stewardship: Our Creator blesses us with an abundance of resources. We foster a spirit of
service to employ our resources to university and community development. We must be resourceful. We
must optimize and apply all of the resources of our community to fulfill Saint Leo University's mission and
goals.
Evaluation:
Chapter Tests (55%)
Homework (10%)
Discussion (10%)
Writing Assignment (10%)
Final Course Assessment (10%)
Peregrine Formative Assessment (5%)
Tests:
2
The graded chapter tests in this class will occur in Modules 2-8, with practice tests in Module 1. All tests
will be completed online, through MyEconLab which is already embedded within D2L. Tests will cover the
material in the textbook and AVPs. The online homework assignments should be completed prior to
taking the tests, as they will help to better prepare you. There is one test per chapter, regardless of the
number of chapters covered per module.
Homework:
All homework assignments will be completed online, through MyEconLab which is already embedded
within D2L. There is one assignment per chapter, regardless of the number of chapters covered per
module. You are allowed two attempts per question.
Discussion:
There will be one required discussion question per module. The discussion questions ask you to apply th.
1
Saint Leo University
ECO 201
Principles of Macroeconomics
Course Description:
An introduction to the study of the determination of income, output, employment, and prices in the U.S.
economy. Emphasis on fundamental economic concepts, gross domestic product and its components,
monetary and fiscal policy, and contemporary macroeconomic issues.
Prerequisite:
None
Textbooks:
The textbook information which appears on our Saint Leo Bookstore ordering site is as follows:
Saint Leo University. Economics Today (Custom). ISBN: 9781323789582
Your custom textbook was created from the following National text(s):
Economics Today (Complete): Miller, R. L. (2018). Economics today(19th ed.). New York, NY: Pearson
Education. ISBN: 9780134478777
Learning Outcomes:
1. Explain the concepts of scarcity, opportunity cost, and the role of incentives in decision making.
2. Explain the primary statistics used to measure income, output, employment, and prices in the
aggregate economy.
3. Develop the basic Aggregate Supply/Aggregate Demand (AS/AD) Model.
4. Describe Monetary and Fiscal Policy within the context of the AS/AD model.
5. Relate the concept of deficit to debt by comparing government expenditures to government revenues.
6. Recognize the importance of specialization by comparative advantage in the face of globalization.
7. Distinguish between the balance of trade and the balance of payments.
8. VALUES OUTCOME: Integrate the relevance of Responsible Stewardship in the context of
macroeconomic analysis.
Core Value:
Responsible Stewardship: Our Creator blesses us with an abundance of resources. We foster a spirit of
service to employ our resources to university and community development. We must be resourceful. We
must optimize and apply all of the resources of our community to fulfill Saint Leo University's mission and
goals.
Evaluation:
Chapter Tests (55%)
Homework (10%)
Discussion (10%)
Writing Assignment (10%)
Final Course Assessment (10%)
Peregrine Formative Assessment (5%)
Tests:
2
The graded chapter tests in this class will occur in Modules 2-8, with practice tests in Module 1. All tests
will be completed online, through MyEconLab which is already embedded within D2L. Tests will cover the
material in the textbook and AVPs. The online homework assignments should be completed prior to
taking the tests, as they will help to better prepare you. There is one test per chapter, regardless of the
number of chapters covered per module.
Homework:
All homework assignments will be completed online, through MyEconLab which is already embedded
within D2L. There is one assignment per chapter, regardless of the number of chapters covered per
module. You are allowed two attempts per question.
Discussion:
There will be one required discussion question per module. The discussion questions ask you to apply th.
1 Saint Leo University ECO 201 Principles o.docxShiraPrater50
1
Saint Leo University
ECO 201
Principles of Macroeconomics
Course Description:
An introduction to the study of the determination of income, output, employment, and prices in the U.S.
economy. Emphasis on fundamental economic concepts, gross domestic product and its components,
monetary and fiscal policy, and contemporary macroeconomic issues.
Prerequisite:
None
Textbooks:
The textbook information which appears on our Saint Leo Bookstore ordering site is as follows:
Saint Leo University. Economics Today (Custom). ISBN: 9781323789582
Your custom textbook was created from the following National text(s):
Economics Today (Complete): Miller, R. L. (2018). Economics today(19th ed.). New York, NY: Pearson
Education. ISBN: 9780134478777
Learning Outcomes:
1. Explain the concepts of scarcity, opportunity cost, and the role of incentives in decision making.
2. Explain the primary statistics used to measure income, output, employment, and prices in the
aggregate economy.
3. Develop the basic Aggregate Supply/Aggregate Demand (AS/AD) Model.
4. Describe Monetary and Fiscal Policy within the context of the AS/AD model.
5. Relate the concept of deficit to debt by comparing government expenditures to government revenues.
6. Recognize the importance of specialization by comparative advantage in the face of globalization.
7. Distinguish between the balance of trade and the balance of payments.
8. VALUES OUTCOME: Integrate the relevance of Responsible Stewardship in the context of
macroeconomic analysis.
Core Value:
Responsible Stewardship: Our Creator blesses us with an abundance of resources. We foster a spirit of
service to employ our resources to university and community development. We must be resourceful. We
must optimize and apply all of the resources of our community to fulfill Saint Leo University's mission and
goals.
Evaluation:
Chapter Tests (55%)
Homework (10%)
Discussion (10%)
Writing Assignment (10%)
Final Course Assessment (10%)
Peregrine Formative Assessment (5%)
Tests:
2
The graded chapter tests in this class will occur in Modules 2-8, with practice tests in Module 1. All tests
will be completed online, through MyEconLab which is already embedded within D2L. Tests will cover the
material in the textbook and AVPs. The online homework assignments should be completed prior to
taking the tests, as they will help to better prepare you. There is one test per chapter, regardless of the
number of chapters covered per module.
Homework:
All homework assignments will be completed online, through MyEconLab which is already embedded
within D2L. There is one assignment per chapter, regardless of the number of chapters covered per
module. You are allowed two attempts per question.
Discussion:
There will be one required discussion question per module. The discussion questions ask you to apply th ...
Saint Leo University ACC 202 Principles of Accounti.docxagnesdcarey33086
Saint Leo University
ACC 202
Principles of Accounting II
Course Description:
This course is a continuation of ACC 201 and introduces cost accounting concepts, budgeting, cost-
volume-profit analysis and managerial decision-making. It also covers the three principal financial
statements: the income statement, balance sheet, and statement of cash flows.
Prerequisite:
ACC 201
Textbook:
Wild / Financial and Managerial Accounting (With Connect Access) / 5
TH
2013 / McGraw-Hill Create
Custom Book / ISBN# 9781308576893 (eBook package)
OR
Wild / Financial and Managerial Accounting (With Connect Access) / 5
TH
2013 / McGraw-Hill Create
Custom Book / ISBN# 9781308576619 (Loose-leaf print book package)
Students have the choice of the eBook or the loose-leaf package for this class. Both include the required
Connect access. The access is good for 364 days so students taking the courses consecutively do not
need to purchase another package.
Note: All purchase options for Connect Plus provide access for two 180-day terms; therefore, it is
recommended that you take ACC 201 and ACC 202 in consecutive terms (or within the same calendar
year) to avoid paying twice.
Learning Outcomes:
Upon completion of the course, students will be able to:
1. Analyze and understand the components of Stockholders’ Equity of the Balance Sheet, including
differences between common stock and preferred stock, and the computation of book value.
2. Explain the difference between financial and managerial accounting.
3. Define and give examples of cost terms used in planning, control and decision-making and
distinguish between manufacturing and nonmanufacturing costs.
4. Perform cost-volume-profit analysis.
5. Understand the budgeting process and prepare a budget.
6. Analyze financial statements using horizontal, common-size and ratio analysis.
7. VALUES OUTCOME Discuss and explain the relevance of responsible stewardship and integrity as it
relates to accounting.
Core Values:
With the core values of responsible stewardship and integrity in mind, students will discuss
management’s responsibility for creating the master budget. Additionally, students will discuss
management’s incentives for understating revenues and overstating expenses when creat ing budgets.
Responsible Stewardship: Our Creator blesses us with an abundance of resources. We foster a spirit of
service to employ our resources to university and community development. We must be resourceful. We
must optimize and apply all of the resources of our community to fulfill Saint Leo University's mission and
goals.
Integrity: The commitment of Saint Leo University to excellence demands that its members live its mission
and deliver on its promise. The faculty, staff and students pledge to be honest, just and consistent in word
and deed.
Evaluation:
Methods of assessment include discussion, assignments, and exams.
.
Covering the Economy Syllabus (Spring 2011) — DavidJermaine Taylor
At the center of all business journalism is the economy--creating and destroying jobs, spurring investment in some companies and sectors and shunning others, and transforming global relationships across national boundaries for good and bad. This course--the introduction to business journalism at the CUNY grad school--provides students with the economic context of the business world they seek to cover.
They need to be knowledgeable about key economic policy issues and know where to find and how to assess economic data.
The course, as all courses in the business and economics concentration, will be based on the economic news of the day—in this semester the Great Recession, the country’s anemic recovery, globalization, the tense U.S.-China economic relationship and the European debt crisis. The first two-thirds of the classes will concentrate on the big issues and the concepts of the economy. Meanwhile students will learn the art of economic writing through work on the class blog on economic indicators. The last part of the semester will apply what we have learned in three in-class exercises on class economics stories on the Producer Price Index, the unemployment rate and the economic outlook. The major assignment will apply economics to coverage of a story for general interest readers.
The goal is not to train students as economists, but to teach them enough about the terminology, concepts and policy issues to enable them to serve as reliable interpreters for the general public.
GB519: Measurement and Decision Making | Unit 5
Assignment: Case Study Part 3
Turn in Part 3 of the case study at the end of Unit 5.
The following Course Outcome is assessed in this assignment:
GB519-3: Examine global interconnectedness as it applies to managerial accounting and decision-making.
The third and final part of the case study is due at the end of Unit 5. Part 2 of the case study is a PowerPoint
presentation with voiceover recording. The voiceover will be the narrative you would be presenting if this were
a live presentation. You will be making a presentation to the board of directors of your organization.
Your Unit 4 Case Study Part 2 Assignment will be the starting point for your PowerPoint presentation.
However, the presentation will include an additional segment not required in the case paper. If you have not
submitted the Unit 4 Case Study Part 2 Assignment, you will not be eligible to submit Unit 5 Case Study Part
3.
Like the Unit 4 Case Study Part 2 Assignment, your PPT presentation should:
• Be based on the unit reading and additional articles.
• Begin with a brief review of the organization. Keep in mind that the members of the board may or may
not have read the report you completed in Parts 1 and 2 of the project. Even though this will be a brief
presentation, it should include all essential information and data.
• Identify significant costs in your organization.
• Include a section devoted to cost-volume-profit analysis (CVP).
• Discuss budgeting considerations. Include the organization’s budget process and budget variances and
discuss management decisions related to budgeting.
• Present a balanced scorecard, incorporating all four of the organizational dimensions (financial,
customer, internal business, and learning and growth).
New Requirement for the Presentation: Next, incorporate a discussion of “global interconnectedness” as it
applies to your organization. Use the textbook and the additional article readings as a basis for analysis. For
example, how do global economic pressures impact your organization? Are there any direct or indirect
international competitors? If so, how is that competition managed? Discuss any heuristic implications or biases
based on global interconnectedness.
Finally, end with a summary review of the performance evaluation. (A formal “Conclusion” slide is required.)
What are the key strengths and weaknesses of the organization? What changes would you recommend be
made to the current organizational strategy?
Additional content could include a discussion of any potential biases that could potentially impact the outcome
of the decision-making process related to the continued success of the organization.
The PowerPoint presentation should include 12–14 slides. The first slide must be a title slide, and the final
slide must be your reference list. The audio presentation (voiceover) should be 15–20 minutes long. In add ...
www.alphainstitute.edu.au
www.alphainstitute.edu.au
Student Assessment Tasks
BSBFIM501 Manage budgets and financial plans
Table of Contents
Table of Contents 2
Assessment Information 3
Assessment Instructions 5
Student Assessment Agreement 6
Assessment Task 1 Cover Sheet 7
Assessment Task 1: Written Questions 8
Assessment Task 1 Instructions 10
Assessment Task 1 Checklist 12
Assessment Task 2 Cover Sheet 13
Assessment Task 2: Budget planning project 14
Assessment Task 2 Instructions 15
Assessment Task 2 Checklist 18
Assessment Task 3 Cover Sheet 19
Assessment Task 3: Monitor and control finances project 20
Assessment Task 3 Instructions 21
Assessment Task 3 Checklist 22
Assessment Task 4 Cover Sheet 23
Assessment Task 4: Profit and loss review project 24
Assessment Task 4 Instructions 25
Assessment Task 4 Checklist 26
Assessment Task 5 Cover Sheet 27
Assessment Task 5: Debtor management project 28
Assessment Task 5 Instructions 29
Assessment Task 5 Checklist 31
Assessment Information
The assessment tasks for BSBFIM501 Manage budgets and financial plans are included in this Student Assessment Tasks booklet and outlined in the assessment plan below.
To be assessed as competent for this unit, the student must complete all of the assessment tasks satisfactorily.
Assessment Plan
Assessment Task
Overview
1. Written questions
Students must correctly answer all questions.
2. Budget planning project
Students must complete a budget template and participate in a meeting to discuss the budget. They must then present the budget to their team.
3. Monitor and control finances project
Students must review budget figures as part of a monitoring process and report on these.
4. Profit and loss analysis project
Students must review financial performance from a profit and loss account
5. Debtor Management project
Students must review and evaluate financial management processes
Assessment Preparation
Please read through this assessment thoroughly before beginning any tasks. Ask your assessor for clarification if you have any questions at all.
When you have read and understood this unit’s assessment tasks, print out the Student Assessment Agreement. Fill it out, sign it, and hand it to your assessor, who will countersign it and then keep it on file.
Keep a copy of all of your work, as the work submitted to your assessor will not be returned to you.
Assessment appeals
If you do not agree with an assessment decision, you can make an assessment appeal as per your Alpha Institute (Australia’s) assessment appeals process.
Students have the right to appeal the outcome of assessment decisions if they feel they have been dealt with unfairly or have other appropriate grounds for an appeal.
Naming electronic documents
Students are directed to name documents logically.
Each should include:
Course identification code
Assessment Task number
Document title (if appropriate)
Student name
Date it was created
For example, BSBFI ...
1 Saint Leo University MAT 131 College Mathemati.docxaryan532920
1
Saint Leo University
MAT 131
College Mathematics
Course Description:
Topics include critical thinking, number theory, measurement, percentages, geometry, counting
methods, probability, and statistics.
Prerequisite:
None
Textbooks:
Blitzer, B. (2011). Thinking mathematically with Mymathlab plus access (6th ed.). Boston, MA:
Pearson-Prentice Hall. ISBN-13: 978-0-321-86732-2
White, J., & White, S. (2015). Thinking critically to solve problems: Combining values and
college mathematics. Boston, MA: Pearson-Prentice Hall. ISBN-13: 978-1-5115-3917-3
The MyMathLab Plus access code includes Thinking Mathematically (Blitzer) eBook
access, so purchasing the physical Blitzer textbook is optional.
Learning Outcomes:
By the end of this course, students will be able to:
1. Solve problems involving data analysis and probability and obtain a better sense of
community when interpreting studies that relate to the world around them.
2. Use concepts that relate to number sense, concepts, and operations.
3. Use measurement techniques and demonstrate knowledge of geometry and spatial
sense.
4. Use basic problem-solving strategies.
5. Explore how mathematics can be used to enhance community.
Core Value:
Students will be learning the mathematical skills for solving problems and then investigate how
those skills and solutions can be used to enhance community.
Community: Saint Leo University develops hospitable Christian learning communities
everywhere we serve. We foster a spirit of belonging, unity, and interdependence based on
mutual trust and respect to create socially responsible environments that challenge all of us to
listen, to learn, to change, and to serve.
2
Evaluation:
In determining the final grade, the following weights will apply:
Problem Sets (7 @ 2% each) 14%
Quizzes (4 @ 2% each) 8%
Exams (2 @ 13% each) 26%
Final Test 20%
Discussions (8 @ 1% each) 8%
Group Project 12%
Individual Project 12%
Total 100%
Module Breakdown of Percentages:
Module 1: Problem Set 1 = 2%, Discussion = 1%
Module 2: Problem Set 2 = 2%, Discussion = 1%, Quiz 1 = 2%, Exam 1= 13%,
Module 3: Problem Set 3 = 2%, Discussion = 1%
Module 4: Problem Set 4 = 2%, Discussion = 1%, Quiz 2 = 2%, Group Project = 12%
Module 5: Problem Set 5 = 2%, Discussion = 1%
Module 6: Problem Set 6 = 2%, Discussion = 1%, Quiz 3 = 2%, Exam 2 = 13%
Module 7: Problem Set 7 = 2%, Discussion = 1%
Module 8: Discussion = 1%, Quiz 4 = 2%, Final Test = 20%, Individual Project = 12%
Grading Scale:
Grade Score (%)
A 94-100
A- 90-93
B+ 87-89
B 84-86
B- 80-83
C+ 77-79
C 74-76
C- 70-73
D+ 67-69
D 60-66
F 0-59
A minimum grade of “C” is needed to fulfill the degree requirement.
MyMathLab:
Most of your assignments for this course will be completed in MyMathLab, which is designed to ...
SYLLABUS ACC423 Intermediate Financial Accounting III Copyrig.docxsimba35
SYLLABUS
ACC/423 Intermediate Financial
Accounting III
Copyright 2014 by University of Phoenix. All rights reserved.
Course Description
This course is the third of a three-part series of courses related to intermediate accounting. This course examines owners'
equity, investments, income taxes, pensions and post-retirement benefits, as well as changes and error analysis. The
course finishes with a look at derivative instruments. Interwoven in the presentation of the material is an assortment of
ethical dilemmas that encourage discussions about how the accountant should handle specific situations.
Course Dates
Apr 07, 2015 - May 11, 2015
Faculty Information
Name : RAYMOND HO (PRIMARY)
Email Address :
[email protected]
Phone Number : See Policies
Policies
Faculty and students/learners will be held responsible for understanding and adhering to all policies contained within the
following two documents (both located on your student website):
• Academic Policies
University policies are subject to change. Be sure to read the policies at the beginning of each class. Policies may be
slightly different depending on the modality in which you attend class. If you have recently changed modalities, read the
policies governing your current class modality.
Program Information
• Program Map
Academic Resources
• WileyPLUS Student Support
Instructions
Review the WileyPLUS Student Support document.
SupportingMaterial
WileyPLUS Student Support document
Get Ready for Class
• Familiarize yourself with the textbooks used in this course.
Instructions
Kieso, D.E., Weygandt, J.J., & Warfield, T.D. (2013). Intermediate Accounting (15th ed.). Hoboken, NJ: John Wiley &
Sons.
Course Materials
All electronic materials are available on your student website.
Week1 Apr, 07 - Apr, 13
Owners' Equity and Earnings per Share
Objectives/Competencies
1.1 Distinguish between contributed capital and retained earnings.
1.2 Record journal entries related to common, preferred, treasury stock, and dividends.
1.3 Calculate basic and diluted earnings per share (EPS).
1.4 Evaluate promulgated accounting treatments for stock compensation.
Required Learning Activities
• WileyPLUS Assignment: Intermediate Accounting, Ch.15
• WileyPLUS Assignment: Intermediate Accounting, Ch.16
• Week One Electronic Reserve Readings
Instructions
Read the Week One Electronic Reserve Readings.
Support Material
Week One Electronic Reserve Readings
• Week 1 Muddiest Point
Instructions
Click on the New Message icon and answer the following question:
What was the most challenging concept for idea from Week 1? Why was this challenging and how might you learn
more about this?
• WileyPLUS Read, Study, Practice - Week 1
Instructions
Complete WileyPLUS Read, Study, Practice - Week 1.
• Week 1 CPA Excel
Instructions
Click on the CPA Exam Assessment Tool icon located on the right.
Follow the directions for the CPA Exam Assessment Tool.
Complete the "Register Now" inf.
1ACC 201 Essentials of Accounting Accounting For Entreprene.docxfelicidaddinwoodie
1
ACC 201: Essentials of Accounting Accounting For EntrepreneursSpring 2016: Course Description
Accounting is a set of activities that translates day to day business transactions into quantifiable information useful for decision makers. Financial accounting focuses on outside decision makers such as investors, creditors, customers, suppliers and produces financial statements in the form of balance sheet, income statement and cash-flow statement. In contrast, managerial accounting focuses on inside decision makers, namely managers, and provides concepts beyond the financial statements to enhance managerial decisions.
An entrepreneur is both an outsider (investor) and insider (manager). As such, an entrepreneurial context is a good platform to learn both financial and managerial accounting. Accordingly, in this course, you will be required to form your own organization to meet a need in the market place that is in line with your personal desires and assets. The financial and managerial accounting principles you learn in this course will help you make better decisions and prepare a sound business plan of your entrepreneurial idea.
Accounting is also the language of business. In this role, it provides the entrepreneur the language to communicate between the branches of business be it finance, marketing, operations or management. This is why I have sub-titled this course as: Accounting for Entrepreneurs. Learning Objectives:
1. To identify a business idea in line with your ‘DNA’
2. To estimate and enhance the net cash flow of your organization
3. To learn accounting concepts that facilitate managerial decisions: IV, BEP, NPV, IRR, Tax Analysis and Optimal Financing
4. To understand the nature of balance sheet, income statement and cash flow statement
5. To prepare financial statements through the double entry process
6. To calculate and interpret ROI and the three DuPont Ratios
7. To prepare a business plan
8. To develop Excel skills Text Book / Clicker:
There is no required textbook for this course. All course-relevant materials will be posted on the blackboard
For those who like to be able to refer a book, I recommend: Financial and Managerial Accounting, Information for Decisions, by Wild, Larson and Chiappetta. McGraw Hill Irwin; the latest is the fifth edition but any earlier edition would be sufficient and cheaper.
You are required however to purchase any basic clicker which is available in the University Bookstore. Example: Response Card NXT Course Grade: Lecture Notes 10Clicker Questions 10 Homework 10Graded Lecture Notes 10Graded Homework 10Quizzes 20Business Plan 30Total 100Extra Credits / Debits
?Course Structure:
Each Tuesday’s class will introduce an accounting concept required to answer an entrepreneur’s question. Given that there is no required text for this course, it is very important that you come to this class with your laptop and take good notes. At the end of e ...
1 Saint Leo University ECO 201 Principles o.docxShiraPrater50
1
Saint Leo University
ECO 201
Principles of Macroeconomics
Course Description:
An introduction to the study of the determination of income, output, employment, and prices in the U.S.
economy. Emphasis on fundamental economic concepts, gross domestic product and its components,
monetary and fiscal policy, and contemporary macroeconomic issues.
Prerequisite:
None
Textbooks:
The textbook information which appears on our Saint Leo Bookstore ordering site is as follows:
Saint Leo University. Economics Today (Custom). ISBN: 9781323789582
Your custom textbook was created from the following National text(s):
Economics Today (Complete): Miller, R. L. (2018). Economics today(19th ed.). New York, NY: Pearson
Education. ISBN: 9780134478777
Learning Outcomes:
1. Explain the concepts of scarcity, opportunity cost, and the role of incentives in decision making.
2. Explain the primary statistics used to measure income, output, employment, and prices in the
aggregate economy.
3. Develop the basic Aggregate Supply/Aggregate Demand (AS/AD) Model.
4. Describe Monetary and Fiscal Policy within the context of the AS/AD model.
5. Relate the concept of deficit to debt by comparing government expenditures to government revenues.
6. Recognize the importance of specialization by comparative advantage in the face of globalization.
7. Distinguish between the balance of trade and the balance of payments.
8. VALUES OUTCOME: Integrate the relevance of Responsible Stewardship in the context of
macroeconomic analysis.
Core Value:
Responsible Stewardship: Our Creator blesses us with an abundance of resources. We foster a spirit of
service to employ our resources to university and community development. We must be resourceful. We
must optimize and apply all of the resources of our community to fulfill Saint Leo University's mission and
goals.
Evaluation:
Chapter Tests (55%)
Homework (10%)
Discussion (10%)
Writing Assignment (10%)
Final Course Assessment (10%)
Peregrine Formative Assessment (5%)
Tests:
2
The graded chapter tests in this class will occur in Modules 2-8, with practice tests in Module 1. All tests
will be completed online, through MyEconLab which is already embedded within D2L. Tests will cover the
material in the textbook and AVPs. The online homework assignments should be completed prior to
taking the tests, as they will help to better prepare you. There is one test per chapter, regardless of the
number of chapters covered per module.
Homework:
All homework assignments will be completed online, through MyEconLab which is already embedded
within D2L. There is one assignment per chapter, regardless of the number of chapters covered per
module. You are allowed two attempts per question.
Discussion:
There will be one required discussion question per module. The discussion questions ask you to apply th ...
Saint Leo University ACC 202 Principles of Accounti.docxagnesdcarey33086
Saint Leo University
ACC 202
Principles of Accounting II
Course Description:
This course is a continuation of ACC 201 and introduces cost accounting concepts, budgeting, cost-
volume-profit analysis and managerial decision-making. It also covers the three principal financial
statements: the income statement, balance sheet, and statement of cash flows.
Prerequisite:
ACC 201
Textbook:
Wild / Financial and Managerial Accounting (With Connect Access) / 5
TH
2013 / McGraw-Hill Create
Custom Book / ISBN# 9781308576893 (eBook package)
OR
Wild / Financial and Managerial Accounting (With Connect Access) / 5
TH
2013 / McGraw-Hill Create
Custom Book / ISBN# 9781308576619 (Loose-leaf print book package)
Students have the choice of the eBook or the loose-leaf package for this class. Both include the required
Connect access. The access is good for 364 days so students taking the courses consecutively do not
need to purchase another package.
Note: All purchase options for Connect Plus provide access for two 180-day terms; therefore, it is
recommended that you take ACC 201 and ACC 202 in consecutive terms (or within the same calendar
year) to avoid paying twice.
Learning Outcomes:
Upon completion of the course, students will be able to:
1. Analyze and understand the components of Stockholders’ Equity of the Balance Sheet, including
differences between common stock and preferred stock, and the computation of book value.
2. Explain the difference between financial and managerial accounting.
3. Define and give examples of cost terms used in planning, control and decision-making and
distinguish between manufacturing and nonmanufacturing costs.
4. Perform cost-volume-profit analysis.
5. Understand the budgeting process and prepare a budget.
6. Analyze financial statements using horizontal, common-size and ratio analysis.
7. VALUES OUTCOME Discuss and explain the relevance of responsible stewardship and integrity as it
relates to accounting.
Core Values:
With the core values of responsible stewardship and integrity in mind, students will discuss
management’s responsibility for creating the master budget. Additionally, students will discuss
management’s incentives for understating revenues and overstating expenses when creat ing budgets.
Responsible Stewardship: Our Creator blesses us with an abundance of resources. We foster a spirit of
service to employ our resources to university and community development. We must be resourceful. We
must optimize and apply all of the resources of our community to fulfill Saint Leo University's mission and
goals.
Integrity: The commitment of Saint Leo University to excellence demands that its members live its mission
and deliver on its promise. The faculty, staff and students pledge to be honest, just and consistent in word
and deed.
Evaluation:
Methods of assessment include discussion, assignments, and exams.
.
Covering the Economy Syllabus (Spring 2011) — DavidJermaine Taylor
At the center of all business journalism is the economy--creating and destroying jobs, spurring investment in some companies and sectors and shunning others, and transforming global relationships across national boundaries for good and bad. This course--the introduction to business journalism at the CUNY grad school--provides students with the economic context of the business world they seek to cover.
They need to be knowledgeable about key economic policy issues and know where to find and how to assess economic data.
The course, as all courses in the business and economics concentration, will be based on the economic news of the day—in this semester the Great Recession, the country’s anemic recovery, globalization, the tense U.S.-China economic relationship and the European debt crisis. The first two-thirds of the classes will concentrate on the big issues and the concepts of the economy. Meanwhile students will learn the art of economic writing through work on the class blog on economic indicators. The last part of the semester will apply what we have learned in three in-class exercises on class economics stories on the Producer Price Index, the unemployment rate and the economic outlook. The major assignment will apply economics to coverage of a story for general interest readers.
The goal is not to train students as economists, but to teach them enough about the terminology, concepts and policy issues to enable them to serve as reliable interpreters for the general public.
GB519: Measurement and Decision Making | Unit 5
Assignment: Case Study Part 3
Turn in Part 3 of the case study at the end of Unit 5.
The following Course Outcome is assessed in this assignment:
GB519-3: Examine global interconnectedness as it applies to managerial accounting and decision-making.
The third and final part of the case study is due at the end of Unit 5. Part 2 of the case study is a PowerPoint
presentation with voiceover recording. The voiceover will be the narrative you would be presenting if this were
a live presentation. You will be making a presentation to the board of directors of your organization.
Your Unit 4 Case Study Part 2 Assignment will be the starting point for your PowerPoint presentation.
However, the presentation will include an additional segment not required in the case paper. If you have not
submitted the Unit 4 Case Study Part 2 Assignment, you will not be eligible to submit Unit 5 Case Study Part
3.
Like the Unit 4 Case Study Part 2 Assignment, your PPT presentation should:
• Be based on the unit reading and additional articles.
• Begin with a brief review of the organization. Keep in mind that the members of the board may or may
not have read the report you completed in Parts 1 and 2 of the project. Even though this will be a brief
presentation, it should include all essential information and data.
• Identify significant costs in your organization.
• Include a section devoted to cost-volume-profit analysis (CVP).
• Discuss budgeting considerations. Include the organization’s budget process and budget variances and
discuss management decisions related to budgeting.
• Present a balanced scorecard, incorporating all four of the organizational dimensions (financial,
customer, internal business, and learning and growth).
New Requirement for the Presentation: Next, incorporate a discussion of “global interconnectedness” as it
applies to your organization. Use the textbook and the additional article readings as a basis for analysis. For
example, how do global economic pressures impact your organization? Are there any direct or indirect
international competitors? If so, how is that competition managed? Discuss any heuristic implications or biases
based on global interconnectedness.
Finally, end with a summary review of the performance evaluation. (A formal “Conclusion” slide is required.)
What are the key strengths and weaknesses of the organization? What changes would you recommend be
made to the current organizational strategy?
Additional content could include a discussion of any potential biases that could potentially impact the outcome
of the decision-making process related to the continued success of the organization.
The PowerPoint presentation should include 12–14 slides. The first slide must be a title slide, and the final
slide must be your reference list. The audio presentation (voiceover) should be 15–20 minutes long. In add ...
www.alphainstitute.edu.au
www.alphainstitute.edu.au
Student Assessment Tasks
BSBFIM501 Manage budgets and financial plans
Table of Contents
Table of Contents 2
Assessment Information 3
Assessment Instructions 5
Student Assessment Agreement 6
Assessment Task 1 Cover Sheet 7
Assessment Task 1: Written Questions 8
Assessment Task 1 Instructions 10
Assessment Task 1 Checklist 12
Assessment Task 2 Cover Sheet 13
Assessment Task 2: Budget planning project 14
Assessment Task 2 Instructions 15
Assessment Task 2 Checklist 18
Assessment Task 3 Cover Sheet 19
Assessment Task 3: Monitor and control finances project 20
Assessment Task 3 Instructions 21
Assessment Task 3 Checklist 22
Assessment Task 4 Cover Sheet 23
Assessment Task 4: Profit and loss review project 24
Assessment Task 4 Instructions 25
Assessment Task 4 Checklist 26
Assessment Task 5 Cover Sheet 27
Assessment Task 5: Debtor management project 28
Assessment Task 5 Instructions 29
Assessment Task 5 Checklist 31
Assessment Information
The assessment tasks for BSBFIM501 Manage budgets and financial plans are included in this Student Assessment Tasks booklet and outlined in the assessment plan below.
To be assessed as competent for this unit, the student must complete all of the assessment tasks satisfactorily.
Assessment Plan
Assessment Task
Overview
1. Written questions
Students must correctly answer all questions.
2. Budget planning project
Students must complete a budget template and participate in a meeting to discuss the budget. They must then present the budget to their team.
3. Monitor and control finances project
Students must review budget figures as part of a monitoring process and report on these.
4. Profit and loss analysis project
Students must review financial performance from a profit and loss account
5. Debtor Management project
Students must review and evaluate financial management processes
Assessment Preparation
Please read through this assessment thoroughly before beginning any tasks. Ask your assessor for clarification if you have any questions at all.
When you have read and understood this unit’s assessment tasks, print out the Student Assessment Agreement. Fill it out, sign it, and hand it to your assessor, who will countersign it and then keep it on file.
Keep a copy of all of your work, as the work submitted to your assessor will not be returned to you.
Assessment appeals
If you do not agree with an assessment decision, you can make an assessment appeal as per your Alpha Institute (Australia’s) assessment appeals process.
Students have the right to appeal the outcome of assessment decisions if they feel they have been dealt with unfairly or have other appropriate grounds for an appeal.
Naming electronic documents
Students are directed to name documents logically.
Each should include:
Course identification code
Assessment Task number
Document title (if appropriate)
Student name
Date it was created
For example, BSBFI ...
1 Saint Leo University MAT 131 College Mathemati.docxaryan532920
1
Saint Leo University
MAT 131
College Mathematics
Course Description:
Topics include critical thinking, number theory, measurement, percentages, geometry, counting
methods, probability, and statistics.
Prerequisite:
None
Textbooks:
Blitzer, B. (2011). Thinking mathematically with Mymathlab plus access (6th ed.). Boston, MA:
Pearson-Prentice Hall. ISBN-13: 978-0-321-86732-2
White, J., & White, S. (2015). Thinking critically to solve problems: Combining values and
college mathematics. Boston, MA: Pearson-Prentice Hall. ISBN-13: 978-1-5115-3917-3
The MyMathLab Plus access code includes Thinking Mathematically (Blitzer) eBook
access, so purchasing the physical Blitzer textbook is optional.
Learning Outcomes:
By the end of this course, students will be able to:
1. Solve problems involving data analysis and probability and obtain a better sense of
community when interpreting studies that relate to the world around them.
2. Use concepts that relate to number sense, concepts, and operations.
3. Use measurement techniques and demonstrate knowledge of geometry and spatial
sense.
4. Use basic problem-solving strategies.
5. Explore how mathematics can be used to enhance community.
Core Value:
Students will be learning the mathematical skills for solving problems and then investigate how
those skills and solutions can be used to enhance community.
Community: Saint Leo University develops hospitable Christian learning communities
everywhere we serve. We foster a spirit of belonging, unity, and interdependence based on
mutual trust and respect to create socially responsible environments that challenge all of us to
listen, to learn, to change, and to serve.
2
Evaluation:
In determining the final grade, the following weights will apply:
Problem Sets (7 @ 2% each) 14%
Quizzes (4 @ 2% each) 8%
Exams (2 @ 13% each) 26%
Final Test 20%
Discussions (8 @ 1% each) 8%
Group Project 12%
Individual Project 12%
Total 100%
Module Breakdown of Percentages:
Module 1: Problem Set 1 = 2%, Discussion = 1%
Module 2: Problem Set 2 = 2%, Discussion = 1%, Quiz 1 = 2%, Exam 1= 13%,
Module 3: Problem Set 3 = 2%, Discussion = 1%
Module 4: Problem Set 4 = 2%, Discussion = 1%, Quiz 2 = 2%, Group Project = 12%
Module 5: Problem Set 5 = 2%, Discussion = 1%
Module 6: Problem Set 6 = 2%, Discussion = 1%, Quiz 3 = 2%, Exam 2 = 13%
Module 7: Problem Set 7 = 2%, Discussion = 1%
Module 8: Discussion = 1%, Quiz 4 = 2%, Final Test = 20%, Individual Project = 12%
Grading Scale:
Grade Score (%)
A 94-100
A- 90-93
B+ 87-89
B 84-86
B- 80-83
C+ 77-79
C 74-76
C- 70-73
D+ 67-69
D 60-66
F 0-59
A minimum grade of “C” is needed to fulfill the degree requirement.
MyMathLab:
Most of your assignments for this course will be completed in MyMathLab, which is designed to ...
SYLLABUS ACC423 Intermediate Financial Accounting III Copyrig.docxsimba35
SYLLABUS
ACC/423 Intermediate Financial
Accounting III
Copyright 2014 by University of Phoenix. All rights reserved.
Course Description
This course is the third of a three-part series of courses related to intermediate accounting. This course examines owners'
equity, investments, income taxes, pensions and post-retirement benefits, as well as changes and error analysis. The
course finishes with a look at derivative instruments. Interwoven in the presentation of the material is an assortment of
ethical dilemmas that encourage discussions about how the accountant should handle specific situations.
Course Dates
Apr 07, 2015 - May 11, 2015
Faculty Information
Name : RAYMOND HO (PRIMARY)
Email Address :
[email protected]
Phone Number : See Policies
Policies
Faculty and students/learners will be held responsible for understanding and adhering to all policies contained within the
following two documents (both located on your student website):
• Academic Policies
University policies are subject to change. Be sure to read the policies at the beginning of each class. Policies may be
slightly different depending on the modality in which you attend class. If you have recently changed modalities, read the
policies governing your current class modality.
Program Information
• Program Map
Academic Resources
• WileyPLUS Student Support
Instructions
Review the WileyPLUS Student Support document.
SupportingMaterial
WileyPLUS Student Support document
Get Ready for Class
• Familiarize yourself with the textbooks used in this course.
Instructions
Kieso, D.E., Weygandt, J.J., & Warfield, T.D. (2013). Intermediate Accounting (15th ed.). Hoboken, NJ: John Wiley &
Sons.
Course Materials
All electronic materials are available on your student website.
Week1 Apr, 07 - Apr, 13
Owners' Equity and Earnings per Share
Objectives/Competencies
1.1 Distinguish between contributed capital and retained earnings.
1.2 Record journal entries related to common, preferred, treasury stock, and dividends.
1.3 Calculate basic and diluted earnings per share (EPS).
1.4 Evaluate promulgated accounting treatments for stock compensation.
Required Learning Activities
• WileyPLUS Assignment: Intermediate Accounting, Ch.15
• WileyPLUS Assignment: Intermediate Accounting, Ch.16
• Week One Electronic Reserve Readings
Instructions
Read the Week One Electronic Reserve Readings.
Support Material
Week One Electronic Reserve Readings
• Week 1 Muddiest Point
Instructions
Click on the New Message icon and answer the following question:
What was the most challenging concept for idea from Week 1? Why was this challenging and how might you learn
more about this?
• WileyPLUS Read, Study, Practice - Week 1
Instructions
Complete WileyPLUS Read, Study, Practice - Week 1.
• Week 1 CPA Excel
Instructions
Click on the CPA Exam Assessment Tool icon located on the right.
Follow the directions for the CPA Exam Assessment Tool.
Complete the "Register Now" inf.
1ACC 201 Essentials of Accounting Accounting For Entreprene.docxfelicidaddinwoodie
1
ACC 201: Essentials of Accounting Accounting For EntrepreneursSpring 2016: Course Description
Accounting is a set of activities that translates day to day business transactions into quantifiable information useful for decision makers. Financial accounting focuses on outside decision makers such as investors, creditors, customers, suppliers and produces financial statements in the form of balance sheet, income statement and cash-flow statement. In contrast, managerial accounting focuses on inside decision makers, namely managers, and provides concepts beyond the financial statements to enhance managerial decisions.
An entrepreneur is both an outsider (investor) and insider (manager). As such, an entrepreneurial context is a good platform to learn both financial and managerial accounting. Accordingly, in this course, you will be required to form your own organization to meet a need in the market place that is in line with your personal desires and assets. The financial and managerial accounting principles you learn in this course will help you make better decisions and prepare a sound business plan of your entrepreneurial idea.
Accounting is also the language of business. In this role, it provides the entrepreneur the language to communicate between the branches of business be it finance, marketing, operations or management. This is why I have sub-titled this course as: Accounting for Entrepreneurs. Learning Objectives:
1. To identify a business idea in line with your ‘DNA’
2. To estimate and enhance the net cash flow of your organization
3. To learn accounting concepts that facilitate managerial decisions: IV, BEP, NPV, IRR, Tax Analysis and Optimal Financing
4. To understand the nature of balance sheet, income statement and cash flow statement
5. To prepare financial statements through the double entry process
6. To calculate and interpret ROI and the three DuPont Ratios
7. To prepare a business plan
8. To develop Excel skills Text Book / Clicker:
There is no required textbook for this course. All course-relevant materials will be posted on the blackboard
For those who like to be able to refer a book, I recommend: Financial and Managerial Accounting, Information for Decisions, by Wild, Larson and Chiappetta. McGraw Hill Irwin; the latest is the fifth edition but any earlier edition would be sufficient and cheaper.
You are required however to purchase any basic clicker which is available in the University Bookstore. Example: Response Card NXT Course Grade: Lecture Notes 10Clicker Questions 10 Homework 10Graded Lecture Notes 10Graded Homework 10Quizzes 20Business Plan 30Total 100Extra Credits / Debits
?Course Structure:
Each Tuesday’s class will introduce an accounting concept required to answer an entrepreneur’s question. Given that there is no required text for this course, it is very important that you come to this class with your laptop and take good notes. At the end of e ...
1. Agenda - DAY 1 (Mon – Period 1) Stock Contest Update / Discuss Unit #4 Test & Final Essay Work on Objective #1 in Lab HOMEWORK – Complete Objective #1 of Final Project for tomorrow Final Exam Essay on Friday
2. Agenda - DAY 1 (Mon – Period 3) CI / Stock Contest Update / Discuss Unit #4 Test & Final Essay PowerPoint Notes on Money & Banking Begin Econ Alive Reading on the Federal Reserve Watch Money Factory DVD CO HOMEWORK – Final Exam Essay on Friday
3. Final Essay Hand-written in class on Friday This is an informative essay worth 30% of your Final Exam grade Minimum 3 paragraphs – Intro, Supporting Paragraph, & Conclusion You are expected to make more economic connections than just supply, demand, & elasticity USE AS MUCH ECONOMIC REASONING/EXPLANATION AS POSSIBLE Advanced scores will examine issue at a micro and macro perspective You may prepare an outline or jot down notes on the question page ONLY (they must be hand-written) You MUST bring the question/rubric sheet on Friday to turn in with your written essay
4. Synthesis Questions – Intro to Fed Article What role does the Fed play in managing our nation’s economy? Why is the Fed necessary? Or is it?
5. Agenda – Day 2 (Tues) Fed Notes Period #3 – Stocks Contest Update Homework – Enjoy your break! Final Exam Essay on Friday, Jan. 7th
6. Agenda - DAY 3 (Mon) CI & Check Stock Contest Final Essay Requirements Preview to Monetary & Fiscal Policy Fed PowerPoint Notes Quick Fed Review/Practice Reading on Theories of Managing Economy Review Theories and Add in Hayek Hayek vs. Keynes Rap http://econstories.tv/#6 If time: Review Final Project Instructions CO HOMEWORK – Fed/Money Quiz tomorrow Final Exam Essay this Friday
7. Final Essay on Friday In-Class Written Essay Worth 30% of final exam grade (entire final exam is worth 20% of final economics grade) You are allowed 1 side of a sheet of paper of notes! (you may only use the question sheet) Essay question online but you will be provided ONE tomorrow with the rubric
8. Fiscal & Monetary Policy Preview Examine the list of possible actions that policymakers could take to help the failing economy. Predict what you think the effect of each possible action might be. Choose from these effects: Effect A – Stimulate the economy Effect B – Neither stimulate nor slow down the economy Effect C – Slow down the economy
9. Possible Policy Actions Increase spending on government programs, such as Social Security and food stamps. Increase taxes on individuals and corporations. Increase the amount of money banks are required to hold in reserve. Increase the interest rate at which banks can borrow money from the Federal Reserve. Increase the purchasing of government bonds by the Federal Reserve.
10. Debriefing Each of the former actions are considered tools available to policymakers for stabilizing the economy. These tools can be used as part of fiscal or monetary policy to: Stimulate an economy during contraction Slow down an economy during expansion Ex: In 1975, President Ford proposed a one-year $16 billion tax cut to businesses
11. Unit #5: Managing the National Economy How do policymakers use fiscal and monetary policy to stabilize the economy?
12. Agenda - DAY 4 (Tues) Stock Contest Update & Hand out Final Essay Sheet Work on Objective #1 of Final Project in Lab Fed/Money Quiz Review “Important Economic Theories” Reading Keynes vs. Hayek rap battle If time: Intro Fiscal Policy HOMEWORK – Objective #1 due Thursday Final Essay on Friday
13. Synthesis Questions – “Obama Gives Keynes His First Real World Test” 1. Specifically, how has Keynes influenced the U.S.’ approach to fixing the economy? 2. Evaluate whether or not Keynes’ solutions to a recession are working or will work for the U.S.
14. Agenda - DAY 5 (Wed) CI Fiscal Policy Notes Read pages 279-282 of Econ Alive Complete notes on fiscal policy and know what the “multiplier effect” is and what “automatic stabilizers” are Cruise Ship example If time: Notes on AS & AD CO Go to Lab for Final Project Finish Objective #1 & move onto Objective #3 HOMEWORK – Objective #1 due tomorrow – either emailed or a physical copy Describe Economic & Social Costs in Notes Packet (Use Pgs. 418-421 of your textbook) Final Essay Writing on Friday
16. Agenda - DAY 6 (Thurs) Check out stock contest Discuss costs of economic instability Cruise Ship Example Notes on AS & AD Continue work on Final Project Complete Objective #3 If you finish, begin working on #2 & #4 which will be part of your final product: the photostory or interactive powerpoint HOMEWORK – Final Essay Writing tomorrow Objective #3 due soon
17. Costs of Economic Instability Define/describe the social/economic costs of economic instability in notes packet (section VI. ) using textbook pages 418-421 Economic Costs Stagflation Misery Index GDP gap Social Costs Political Instability, Uncertainty, Wasted Resources, Increase in Crime / Worse Family Values
18. Agenda – DAY 7 (Fri) Review Essay Directions and Write Final Essay Once finished: Complete Economic Advisor Sheet Complete the top part of sheet reviewing three schools of thought on managing the economy Choose 4 problems total to solve using one or a combination of solutions such as: demand-side, supply-side, and monetary policy (monetarism). Be specific in explaining which tools you would use (ex. Increase taxes or lower discount rate) Also, detail the effects of your solutions in the far right column. Be sure that you list numerous positive and negative effects! Complete the Managing the US Economy Review Sheet Follow the instructions on the right hand side of the sheet HOMEWORK – Due Monday: Objective #3 of Final Project Managing U.S. Economy Review Sheet Economic Advisor Sheet
19. Final Essay Reminders Use any type of spacing and write legibly in pen or pencil There is no length requirement but you must have an intro, supporting paragraphs, and conclusion You MUST incorporate supply, demand, and elasticity but you are expected to include more economic connections to earn an advanced score in the “content” category
20. Agenda - DAY 8 (Mon) CI & collect Objective #3 (check homework) Review Economic Advisor Assignment PowerPoint Notes on Taxes & Taxes Flipchart Computer Lab to work on Final Project Work on Objectives #2 & #4 CO HOMEWORK – Unit #5 Test on Friday Final Project due Friday
21. Agenda – DAY 9 Tues CI & Hand back CORE Intro “Final Product” of Final Project & Show Samples Review Managing our Economy Sheet & Taxes Flipchart Ten Trillion & Counting – “What Obama Inherited” PowerPoint Notes on Government Spending Ten Trillion & Counting – “Partisan Politics in a Time of Crisis” & “Obama’s Budget” Review for Unit #5 Test Pass out Review Sheet Unit #5 Overview CO HOMEWORK – Unit #5 Test on Friday Final Project due Friday Turn in Textbooks!
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23. Agenda – DAY 10 Thurs Review for Unit #5 Test Test Breakdown & Pass out Review Sheet Pass out Review Materials Review Directions for Final Product Work on Final Projects in Lab HOMEWORK – Unit #5 Test tomorrow (I will be here afterschool if you would like to stay to review!) Final Projects due Tuesday Final Exam Multiple Choice next Thursday Turn in Textbooks!
24. Unit #5 Test Breakdown 50 scantron items (2 points each) No short answers!!! 100 POINTS TOTAL! Remember this test covers: Money, Federal Reserve, Monetary/Fiscal Policy, Aggregate Supply/Demand, Taxes, Impacts of Gov’t Spending, & Deficit Spending, & Social/Economic costs of Economic Instability
25. Agenda – DAY 11 (Thurs) Review for Unit #5 Test Unit #5 Overview – Managing our Economy Silent Jeopardy / Terms Review Computer lab to work on Final Project (last day in class!) Discuss Turning in Projects HOMEWORK – Unit #5 Test tomorrow Final Projects due Tuesday Final Exam Multiple Choice next Thursday Turn in Textbooks!
26. Agenda – DAY 12 (Fri) Study for 5 min. Take Unit #5 Test Complete #21 & #22 first with calculator Once you finish, pick up final exam review sheet and thoroughly look over it to identify five areas of concern (circle/star these areas or concepts so that we can review them Tuesday) Also, review your notes for Units #1-3 since we haven’t talked about them for awhile Final Exam Review Review Sheet & Exam Details Review Units #1 - #3 Connect Four? HOMEWORK – Final Project due Tuesday Final Exam Multiple Choice Thursday Bring in textbooks!
27. Final Exam – Fri. 1/21 Period #1 Exam time: 7:25-9:00 am Come with a pencil & textbook if you still need to turn it in Exam Room: C121 (my room) proctored by Ms. Hunter Period #2 Exam time: 7:25-9:00 am Come with a pencil & textbook if you still need to turn it in Exam Room: C132 proctored by Mrs. Zaleski
28. What to study? Final Exam Review Sheet Notes Packets Notes PowerPoints Online Unit #1-3 Practice Test
29. Agenda - DAY 10 (Tues) Hand in textbooks & Discuss Final Exam/Final Project/ Unit #5 Test Announce Stocks Contest Winners & Award AB Bucks Review Sheet Questions & Discussion on 5 starred items Discuss Unit #1 - #3 Major Concepts Unit #1-3 Retest ZONK Review HOMEWORK - Final Exam M.C. is Friday Bring in your textbook to turn in, otherwise it’s an obligation!
30. Agenda - DAY 11 (Wed) Hand in textbooks & Discuss Final Exam Announce Stocks Contest Winners & Award AB Bucks Take Questions about Content Review Key Concepts of Unit #1-3 Unit #1-3 Retest ZONK Review HOMEWORK - Final Exam M.C. is Friday Bring in your textbook to turn in, otherwise it’s an obligation!
31. The PASS System – Share & Discuss What did you think about it? (If you had to use some type of reading strategy) Did you see value or purpose in it? How could I improve the system? Evaluate how interesting/relevant the readings were and the number of readings that I made you do!
32. Agenda - DAY 11 (Mon) Collect textbooks Take Final Exam Once finished, pick up course reflection and please complete & turn in NO HOMEWORK – Thanks for a great marking period! If you have any missed work, I will pull you out of senior day!
33. Final Exam – Thurs. 6/18 at 7:30-9:05 am Period #1 Exam in room C119 (Mr. Wetzel) Proctored by Celinski Period #2 Exam in room C121 (Mr. Allgyer) Proctored by McDonough
34. FINAL EXAM Put all of your belongings up front except for a #2 PENCIL Clean out your desk slot and there can be nothing on top of your desk! Stay quiet the entire time! Once you finish, the time is yours to read, listen to ipod, etc.
36. Money $$$ Money: a substance that functions as a… medium of exchange standard of value store of value Money is… Acceptable Portable Durable Divisible Uniform Scarce
37. Types of Money We generally talk about two kinds of money: Commodity money – money that has some value in trade as a commodity Fiat money – money that gains value through government decree
38. Measuring the Money Supply The Money Supply is the total amount of money in the economy M1 – the money supply that can be used as cash or easily converted to cash– includes currency (coins & bills), checking accounts, and Traveler’s Checks M2 – broader measure of money supply and includes M1, savings accounts, and money market funds
39. So we have money, but how do we have that money transferred between people? = BANKS!!!
40. U.S. Banking System We use a Fractional Bank Reserve System: Requires banks to keep a fraction (called the Reserve Requirement) of their deposits on hand in the form of reserves The current Reserve Requirement is 10% Banks use the extra money as loans to consumers & businesses that they earn interest off of **In a sense, as banks continuously lend money that is not in reserves they are “creating money”. This lending is increasing the flow of money that ordinarily wouldn’t be able to happen!**
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42. How much do banks need to keep on reserves? Reserves = Total Deposit X RR (in % form) -------------------------------------- 1000 x .20 = 200 1000 – 200 = 800 -------------------------------------- 800 x .20 = 160 800 – 160 = 640 LOAN Dave’s $640 LOAN Kim’s $800 Kim’s $800 Pat’s $1000 Pat’s $1000 Pat’s $1000
43. Examples – Calculating Reserves Use this formula: Amount of Reserves = Total Deposit X RR (in % form) Mr. Allgyer’s bank gets a deposit of $20,000. The reserve requirement is 20%. How much does he need to keep in reserves? Mr. Allgyer’s bank now gets a deposit of $10,000. The reserve requirement is 15%. How much does he have to lend out?
44. How much total money do banks create? Because each loan decreases in size, we will eventually run out of money to loan based on one initial deposit. We can figure out where it caps out by using the equation: Amount of Money Created = Total Deposit / RR (in % form) Ex) Total Deposit: $1000 Reserve Requirement: 20% Money Supply: $5000
45. Example – Money Creation Use this formula: Amount of Money Created = Total Deposit / RR (in % form) Mr. Allgyer’s bank gets a deposit of $3000 and the reserve requirement is 10%. How much money will be put into the money supply through loans/deposits?
46. The Federal Reserve System The Fed is the central bank of the U.S. Its goal is to keep the entire banking system stable and healthy Their responsibilities include: Holding reserves Providing cash & loans to banks Clearing checks Control the nation’s money supply (they set the Reserve Requirement!) Issues Federal Reserve Notes (our paper currency)
47. Controlling the Economy School of Thought #1: MONETARISM Belief that changes in the money supply can play an important role in controlling the economy Pushed by economist Milton Friedman He believed that it was the Fed’s job to control the money supply to influence the economy!
48. The Federal Reserve System Econ Alive pages 282-288 Complete Section III (A-E)
49. “The Fed” = CENTRAL BANK OF THE U.S. Primary method of managing the economy is through monetary policy central bank policy aimed at regulating the amount of money in circulation and interest rates Goal of policy is to allow the economy to grow, achieve full employment, and keep price stable Created in 1913 by Congress SLIDE 1
50. Structure of Fed Chairman of Board & FOMC – Ben S. Bernanke Board of Governors Board of 7 Governors appointed by President for 14-year terms (1 vacancy/2 years) Purpose is to supervise banking system & control direction of monetary policy Chairman is appointed by President for 4 year term & is spokesperson for Fed Federal Open Market Committee (FOMC) Made up of 7 members of Board of Gov., 5 district bank presidents (1 is always the Pres. Of NY Fed) Meets 8 times a year to determine changes to monetary policy Fed Reserve District Banks 12 Districts with a Federal Reserve Bank in each one
51. Policies followed by Fed Easy Money Policy (Expansionary) Fed expands the money supply trying to cause cheaper lending to stimulate economic growth Interest rates lower but too much easy money policy leads to INFLATION Tight Money Policy (Contractionary) Fed shrinks the money supply trying to cause lending to be more expensive to slow the economy Interest rates rise but too much tight money policy leads to a RECESSION
52. The Fed carries out monetary policy by using these 3 tools… 1. Reserve Requirement 2. Discount Rates 3. Open Market Operations
53. Tools of the Fed Open Market Operations DEFN: buying & selling of gov’t securities in bond market Buy Securities = More $ Sell Securities = Less $ Most-Used Tool Reserve Requirements DEFN: amount of deposit bank keeps in reserves High RR = Less $ Low RR = More $ Least-Used Tool Discount Rates DEFN: Interest Rates on loans the Fed gives to banks High DR = Less $ Low DR = More $ Rarely-Used Tool
54. Targeting the Federal Funds Rate Fed Funds Rate – interest rate that banks charge each other for short-term loans Banks set this rate, so this is NOT a monetary policy tool HOWEVER, the Fed sets a target rate based on its view of the economy & uses OMO to nudge the rate towards the target!
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56. UNIT #5 Fed REVIEW: Define monetary policy in your own words. If the Fed wanted to increase the money supply using the discount rate, what would they do? Would the Fed be attempting to stimulate or slow down the economy? If the Fed wanted to decrease the money supply using reserve requirement, what would they do? What would happen to interest rates? If the Fed wanted to increase the money supply using open market operations, what would they do? Would this be considered easy or tight money policy? What is the relationship between interest rates and the amount of credit demanded?
59. The basics… Aggregate supply = total supply of goods and services produced in the nation’s economy Aggregate demand = total demand for goods and services in the nation’s economy Macroeconomic Equilibrium = when aggregate demand equals aggregate supply
60. Review of Demand-Side vs. Supply Side What do demand-siders want? What do supply siders want? How do they want us to achieve those effects?
61. Supply & Demand’s Influence on Monetary Policy How does the Fed stimulate the economy?
62. CI’s & CO’s What is monetary policy? How would you stimulate the economy right now using ONE TOOL of monetary policy (discount rate, reserve requirement, or open market operations)? How could the government stimulate or slow down the economy? List anything you know about fiscal policy (their way of managing the economy). Describe a major similarity and difference between monetary & fiscal policy. How do demand-side and supply-side policies differ? How are aggregate supply & demand different from the supply & demand that we’ve already covered? Draw an aggregate supply & demand graph, show the effect of demand-side policies on the graph, and explain the two ways in which Keynes and demand-siders argued that they could achieve this effect (list the two tools!). Describe one economic cost & one social cost of economic instability. What is deficit spending, and why does the government do this? Define transfer payments in your own words. Also, provide an example of a transfer payment. Some costs of economic instability are stagflation, a high misery index, a large GDP gap, wasted resources, political instability, and increasing crime. Choose two of these & describe them! Scenario – Taxes on all businesses are increased. Draw what happens to aggregate supply. What are transfer payments? Describe the difference between the 3 major taxes: regressive, proportional, and progressive. Also, give a real life example of one of the taxes. By the government keeping both individual income taxes and business income taxes high, how will this impact the economy? Also, what type of fiscal policy is this: expansionary or contractionary?
63. Fiscal Policy Read pages 279-282 & complete Section on “Government Influence on Economy” (A – C)
64. What is fiscal policy? the use of government spending and taxing to influence economic activity Goals are economic growth, full employment, & stable prices Expansionary Fiscal Policy – Goal is to stimulate economic activity Increase spending & Lower taxes Contractionary Fiscal Policy Goal is to slow down economic activity Decrease spending & Increase taxes
65. Theories on the Government Role in the Economy DEMAND-SIDE Economics SUPPLY-SIDE Economics Policies designed to stimulate aggregate demand (nationwide consumption) by cutting individual income taxes and increasing government spending Put forth by Keynes in 1936 (called Keynesian economics) Idea that GOV’T HAS BIGGER ROLE IN ECONOMY policies designed to stimulate aggregate supply (nationwide production) by lowering corporate income taxes and the individual income tax on high-income taxpayers Idea that GOV’T HAS SMALLER ROLE IN ECONOMY
66. Impact of Government Spending The government’s spending has a magnified effect on the economy due to… the “multiplier effect” – each dollar spent encourages more spending Option 1 – spend more = stimulate the economy Option 2 – spend less = slow the economy Government uses “automatic stabilizers” to manage the economy These stabilizers counter the fluctuations of the business cycle Examples include: transfer payments (payments for which the government receives nothing in return) such as unemployment benefits, food stamps, welfare Tax brackets They work by increasing or decreasing aggregate demand
68. Two Tax Principles Conditions: Those who benefit from gov’t services should be the ones who pay for them People should pay taxes in proportion to the amount of services or benefits they receive People should be taxed according to their ability to pay, regardless of the benefits they receive Benefit Principle Ability-to-Pay Principle
69. Three Types of Taxes Proportional –same % rate of taxation on everyone, regardless of income Progressive –higher % of taxation on persons with higher incomes Regressive –higher % of taxation on lower incomes than higher
70. Specific Taxes Sales Tax = taxes paid on purchases Varies by state by amount and which items are actually taxed Tend to be a Regressive tax FICA (Federal Insurance Contributions Act) = federal tax levied for SS & Medicare Medicare is federal healthcare program available to all senior citizens regardless of income Example of a Proportional Tax (1.45% of all earnings) Social Security is a federal retirement fund SS is capped tax that doesn’t exceed 6.2% of wages & salaries up to $106,800 Example of a Proportional tax (up to $106,800) but then Regressive afterwards Federal Individual Income Tax = tax on people’s earnings is paid through a payroll’s withholding system example of Progressive tax
71. Specific Taxes Excise Tax= taxes paid on products the government wants to regulate Examples include cigarettes, alcohol, & gasoline Tend to be a Regressive tax Property Tax= taxes for land & buildings Property taxes are a significant source of revenue for public schools Example of a Proportional Tax based on the assessed value of property Other Taxes – Luxury, Estate, Corporate Income, Unemployment
75. Government Spending Government revenues come from: Individual income tax, payroll taxes (ex. FICA), corporate income taxes, and excise taxes Government spends their money on: 1. Mandatory spending – Fixed by law must pay interest on national debt & on entitlements/transfer payments (ex. Social security, welfare, & medicare) 2. Discretionary spending – Can be raised or lowered as Congress sees fit Examples are education, defense, health care, foreign aid, etc.
76. Deficit Spending YOU MUST distinguish between debt & deficit! A deficit is not having enough revenues to meet gov’t spending in one year Deficit 2006 + Deficit 2007 + Deficit 2008 = DEBT So national debt is the accumulation of all deficits (total money owed from borrowing) over time! Deficit Spending is when the government spends more money than it collects in revenue
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80. Deficit Spending THE AMERICAN GOV’T LOVES TO DEFICIT SPEND!! But why??? spending more may help to stimulate the economy we need to protect ourselves we have to do it (mandatory spending – baby boomers hitting the retirement age)
81. Effects of Deficit Spending Adds to national debt Inflation can occur! Unease about foreign-owned debt Citizens become discouraged Worried about the tax burden on future citizens Feel like their money is wasted Fear of Government Bankruptcy How does uncertainty hurt the economy? Purchasing power transfer from private sector (private individuals/businesses) to public sector (levels of government) because the government taxes us more so they can spend! CROWDING OUT EFFECT!! When the gov’t borrowing drives interest rates up so high that people are no longer willing to borrow money to invest in businesses, to buy products on credit, etc.
Editor's Notes
Use pg. 151 of notebook guide and 177 of procedures manual of Econ alive.
Most common measure of money supply is M1 – currency (coins & paper money), checking accounts (demand deposits), & T-Checks (buy checks to use as cash for money ready for spending) ALL ASSETS THAT CAN BE USED OR CONVERTED TO CASH QUICKLY M2 is broader classification of money – money not as easily accessible like savings accounts/funds (near-money)Credit cards are not moneyWhy look at money supply? – forecast inflation, demand, investment, business, etc. (greatly influences what happens in the economy)
With every deposit, there is an increase in the lending power of the bankThus, the monetary value of one deposit will have lending power well beyond its value
#1 Answer = $4,000#2 Answer = $1,500
Answer = $30,000
Holding reserves – holds the reserve requirement for banksProviding cash (when funds are low due to withdrawals) & loans (discount rate)Clearing checks – transfer funds from one account to another (from your account to the store’s account you bought something from)
Critic of Keynes who argued that the Great Depression was not because of a lack of demand, it was a drop in the money supply between 1929 & 1933 as banks failed and wiped out the accounts of depositors. As $ supply shrank people stopped spending = falling prices, rising unemployment & business failure, & declining incomesBelieve we should used monetary policy or in this case the Fed should have expanded the $$$ supply during depression so with more money in circulation spending would have picked up & expansion would have ensued
GOAL IS TO INCREASE MONEY SUPPLY FAST ENOUGH TO KEEP UP WITH GROWTH BUT NO FASTER!Easy money – consumers spend too much, increase in demand causes demand-pull inflationTight money – deflation results with low levels of investment & spending
Required to get quick loans if they don’t have enough reservesWhy this rate? = easiest rate to change using OMO, affects interest rates for mortgages/credit cards/savings accounts/bonds
The FOMC Policy Decision"The Committee will maintain the target range for the federal funds rate at 0 to 1/4 percent and continues to anticipate that economic conditions, including low rates of resource utilization, subdued inflation trends, and stable inflation expectations, are likely to warrant exceptionally low levels of the federal funds rate for an extended period. The Committee will continue to monitor the economic outlook and financial developments and will employ its policy tools as necessary to promote economic recovery and price stability."Again, the FOMC opted for no change in the target federal funds rate, essentially repeating the March policy statement. 'The fed funds rate can't be used effectively to help the member banks, who borrow reserves at the fed funds rate from other member banks. With the target so low, monetary policy, especially open market operations, is not an effective stimulatory tool.
Economic performance can be illustrated through the concepts of aggregate supply and aggregate demand. LAW OF SUPPLY - It is upward-sloping because at higher prices firms have an incentive to produce more, and at lower prices they are likely to produce less.LAW OF DEMAND - It is downward-sloping because at higher prices, consumers, firms, government, and foreign customers are less willing to buy, while they will likely buy more at lower prices. Shifts in the aggregate supply and aggregate demand curves can illustrate changes in the performance of our economy. If consumer confidence in the economy falls and people reduce their spending, aggregate demand can fall, reducing real output and prices and possibly dropping the country into a recession. However, if the money supply is too large, excessive consumer demand can push up the aggregate demand, raising real output and prices and possibly pushing the country into serious inflation.
Keynes recommends that,during periods of recession, Congress should increase government spending in order to “prime the pump” of the economy. At the same time, he recommends, Congress should decrease taxes in order to give households more disposable income with which they can buy more products. Through both methods of fiscal policy, the increase in aggregate demand stimulates firms to increase production, hire workers, and increase household incomes to enable them to buy more.Economists generally look to annual goals of GDP growth of 2.5-3 percent, an inflation rate of 3-4 percent, and an unemployment rate of approximately 5 percent for stable economic growth. However, our economy generally follows an economic cycle of recession and expansion every few years. As John Maynard Keynes argued in his 1936 book General Theory of Employment, Interest, and Money, nations need not wait for potential economic problems to correct themselves. He advocated that government take an active role in resolving economic issues through the use of two policies: fiscal policy and monetary policy. (classical theory says that market/economy will correct itself)
The demand for money consists of consumers borrowing for such items as cars and homes, firms borrowing for such items as factories and equipment, and the government borrowing to finance the national debt. The supply of money is set by the Federal Reserve Board of Governors, the central banking system for the United States. The supply and demand for money determine the interest rate that must be paid for the use of borrowed money. So if the Federal Reserve increases the money supply, interest rates will fall, making it less expensive to borrow money. In that case, those wishing to borrow money will be more likely to do so-- and be more likely to spend that money on products. If the Federal Reserve reduces the money supply, interest rates will rise, so less will be borrowed and spent (because of the higher cost of borrowing).
Expansionary - economy is sliding into recession, need to stimulate economyExample of expansionary – issue stimulus checks/tax rebates, increase gov’t purchases of goods/servicesContractionary – economy is overheating, buyers are demanding more than what can be produced, prices rising, etc.
Demand-Side Policies - believe best way to deal with sluggish economy is to stimulate demand by cutting taxes (consumers buy more) & spending more (stimulus check) which gets businesses going again-business/investment sector is cause of instability in OE model, ended up causing magnified impact on other spending-government can step in to offset changes in investment sector spending (ex. Lower taxes and enact other measures to encourage businesses & consumers to spend more)-major example of this policy is deficit spending-when economy recovers, tax collections rise, and gov’t would have surplus to pay back debt-idea is that gov’t spends to make up for I sector ‘s lack of spending but then should stop when I sector recovers-use automatic stabilizers (programs that trigger benefits if changes in economy threaten people’s incomes) such as unemployment insurance & federal entitlement programs (welfare, pensions, medicare, Social Security)Supply-Side Policies- stimulate output by cutting taxes, as businesses & investors have more money then supply will increase, spurring economy (leads to more income to workers then more demand)GOV’T MUST CONSIDER BOTH APPROACHES WHEN DEVELOPING THEIR ECONOMIC POLICY!!!
1,000 spent by gov’t to provide income to teen for making trails in public parkTeen saves $300 and spends $700 on bicycleShop owner saves $200 and spends $500 on car repairsMechanic saves $100 and spend $400 on a painter to paint his fenceAlso SAVINGS turns into loans!Stabilizers during bad economyDemand drops and businesses lay off workers in recessionWorkers earnings decline so lower tax bracket and slowed business does the sameWorkers start getting unemployment benefits, welfare payments, and food stamps to encourage spending and to help improve economy
Why?– societies not always able to measure benefits & persons with higher incomes suffer less discomfort paying taxes than persons with lower incomesAtPay – Income tax, luxury itemsBenefit – people who drive should pay for highway system (tolls & gas taxes)
Progressive operates under ability-to-pay principle & puts greater tax burden on the wealthy than on the poor, is this fair though? (does it punish those who work, save, & invest?
Federal Gov’t receives most revenues from individual income taxes, corporate income taxes, & SS taxesStates & Fed Gov’t issue progressive income taxesSales – proportional that turns regressive but to limit the progressive effects governments do not tax necessities such as food & medicineSocial Security – tax on wages a company pays its employees (company pays half & employee pays half for total of 12.4%)Medicare – split for company & employee for total of 2.9%, no cap which makes it a true proportional taxCorporate Income tax – applied to profits of corporations, they are progressiveUnemployment tax – state payroll tax used to assist workers who lose their jobsProperty tax – for land, buildings, & sometimes personal property like cars and boats (they are proportional taxes on assessed value) – these pay for public schoolsExcise – levied on goods/services that the gov’t wants to regulate (generally regressive), ex. Such as cigarettes & alcohol called sin taxesLuxury taxes – levied on sale of luxury goods like fur goat or private jet, progressive b/c consumption increases as income increasesEstate tax (fed gov’t) & inheritance tax (state gov’t) – on assets left to heirs if someone dies, are progressive because larger estates are taxed at a higher rateBoth the federal and state governments levy excise taxes on goods such as alcohol, motor fuel, and tobacco products. Even though federal excise taxes are geographically uniform, state excise taxes vary considerably. However, taxation constitutes a substantial proportion of the retail prices on alcohol and tobacco products.Local governments may also impose an excise tax. For example, the city of Anchorage, Alaska charges a cigarette tax of $1.30 per pack, which is on top of the federal excise tax and the state excise tax.Investopedia explains Regressive TaxSome examples include gas tax and cigarette tax. For example, if a person has $10 of income and must pay $1 of tax on a package of cigarettes, this represents 10% of the person's income. However, if the person has $20 of income, this $1 tax only represents 5% of that person's income.Sales taxes that apply to essentials are generally considered to be regressive as well because expenses for food, clothing and shelter tend to make up a higher percentage of a lower income consumer's overall budget. In this case, even though the tax may be uniform (such as 7% sales tax), lower income consumers are more affected by it because they are less able to afford it.
Federal Gov’t receives most revenues from individual income taxes, corporate income taxes, & SS taxesStates & Fed Gov’t issue progressive income taxesSales – proportional that turns regressive but to limit the progressive effects governments do not tax necessities such as food & medicineSocial Security – tax on wages a company pays its employees (company pays half & employee pays half for total of 12.4%)Medicare – split for company & employee for total of 2.9%, no cap which makes it a true proportional taxCorporate Income tax – applied to profits of corporations, they are progressiveUnemployment tax – state payroll tax used to assist workers who lose their jobsProperty tax – for land, buildings, & sometimes personal property like cars and boats (they are proportional taxes on assessed value) – these pay for public schoolsExcise – levied on goods/services that the gov’t wants to regulate (generally regressive), ex. Such as cigarettes & alcohol called sin taxesLuxury taxes – levied on sale of luxury goods like fur goat or private jet, progressive b/c consumption increases as income increasesEstate tax (fed gov’t) & inheritance tax (state gov’t) – on assets left to heirs if someone dies, are progressive because larger estates are taxed at a higher rateBoth the federal and state governments levy excise taxes on goods such as alcohol, motor fuel, and tobacco products. Even though federal excise taxes are geographically uniform, state excise taxes vary considerably. However, taxation constitutes a substantial proportion of the retail prices on alcohol and tobacco products.Investopedia explains Regressive TaxSome examples include gas tax and cigarette tax. For example, if a person has $10 of income and must pay $1 of tax on a package of cigarettes, this represents 10% of the person's income. However, if the person has $20 of income, this $1 tax only represents 5% of that person's income.Sales taxes that apply to essentials are generally considered to be regressive as well because expenses for food, clothing and shelter tend to make up a higher percentage of a lower income consumer's overall budget. In this case, even though the tax may be uniform (such as 7% sales tax), lower income consumers are more affected by it because they are less able to afford it.
Here's what's going on:In 2007 and 2008, US government tax revenues averaged about $633.15 billion per quarter. For the first quarter of 2009, however, the numbers just in tell us that tax receipts totaled only about $442.39 billion – a decline of 30%. Looking to confirm the trend, we compared the data for April – typically the big kahuna of tax collection months – to the 2007-2008 average, and found that individual income taxes this year were down more than 40%. The situation is even worse for corporate income taxes, which were down a stunning 67%. f the shortfall in individual and corporate tax revenue persists – and we expect it will – then the deep hole the government is already digging for itself will be that much deeper. Using the government's own expense projections, the revenue shortfall, even if it doesn't worsen further, would push the fiscal 2009 budget deficit up to about $1.958 trillion. Case in point, in January the government projected a $1.2 trillion deficit for fiscal year 2009...in March, just three months later, they upped the projection to $1.8 trillion. That $600 billion "adjustment" alone totaled more than any full-year budget deficit in the nation's history.
payments to disadvantaged like SS, welfare, unemployment, & aid to handicap), include payment for highways to states (grant-in-aid) or subsidies to individuals or businesses to protect/promote economic activity (ex. Farmers)
Debt is money owed while Deficit is spending more than you take in (debts are a result of deficit spending & debts are accumulated over years of time) If we add up all federal bonds & other debts, we have a measure of federal debt (total amount borrowed from investors to finance deficit spending)
That's because the Treasury is buying toxic investments (mortgage bonds, credit-card loans and so on) and putting them on the books with a higher value than the market is willing to assign.While that makes the budget deficit appear smaller, it doesn't negate the fact that the government still must borrow the money needed to buy the toxic paper in the first place. The additional revenue shortfall means they have to raise that much more money. Based on the struggle they had pushing the $14 billion in long-term notes at the latest auction, it becomes increasingly apparent that when push comes to shove, the only way the government is going to come up with the money needed to meet its aggressive spending is to print it up. We also believe that inflation could start setting in as early as Q3 of 2009 and will accelerate sharply by 2010. Treasury Rates will start climbing and the era of cheap money will end, making it harder for overleveraged consumers, businesses, and governments to service their debt.
In Keynes model, sometimes gov’t has to step in & stimulate demand or supply therefore making expenditures is necessary -we can always borrow more & lowering deficits lowers the demand for money (raise interest rates)
-deficit adds to the national debt-countries will eventually stop lending to the U.S. & stop trusting U.S. (maybe our bonds will be downgraded to less than AAA rating)-balanced budget is bad during recession b/c it will get worse if we cut spending & transfer paymentsalso bad during boom to cut taxes & increasing spending will cause inflation-transfer of purchasing power from private to public (if gov’t wants to increase military spending then they will raise taxes therefore decreasing purchasing power of private individuals)-can change distribution of income (federal tax structure favors some classes - ex. If gov’t borrows from rich then taxes paid to make interest payments go to rich & middle class suffer)-crowding out effect = when gov’t runs deficit they need to sell bonds or somehow get money, because they are increasing demand for money interest rates rise & force private borrowers to either pay higher rates or stay out of the marketA WAY TO COMBAT CROWDING OUT - monetize the debt? Create enough extra money to offset deficit spending (increase money supply) to keep interest rates downAs gov’t borrows more, interest rates rise because credit is being competed for therefore interest rates can riseGov’t increases money supply (therefore increasing credit) to keep interest rates stable)-individual incentives – if people believe the gov’t is spending freely therefore they are taxed more, then people lose initiatives to work harder, save, and invest