Instructor:Dr. Anthony Gadzey; gadzeat@auburn.edu; Office: 7010 HC: Office Hours: MWF 8-9
am
Lectures: Class Meeting MW 11-11:50 am HC: 3195
Class Meeting MW 1-1:50 pm PARKR 307.
GTA Matthew Mitchell: Thursday Lab Secs. 1(8 am); 2(9:30 am); 3(11 am); mitchmc@auburn.edu; Office: HC 7063; ph: 4-5370 to leave a message; Off. Hours: MW 10-11 am.
GTA Anne Hammond:Thursday Lab Secs. 4 (12:30 pm); 5 (2 pm); 6 (3:30 pm) hammoae@auburn.edu; Office: HC: 8030D; ph: 4-4839; Off: Hours: M 6-8:30 pm; T 4-6:30 pm, W 7-9:30 pm
GTA William Thomas Faull: Friday Lab Secs: 19(10 am); 20(11 am); 22(1 pm); faullwt@auburn.edu; Office: HC 8030D; ph: 4-4839; Office Hours: W 12-1; Th 2-3 pm.
GRADING
6 Class Puzzles 12%
Attendance 8%
Two Mid-term Multiple Choice exams each worth 25%
Final Multiple Choice Exam 30%
THE CARDINAL RULES FOR THIS COURSE
1. Attendance is required. It is the responsibility of the student to ensure the proper and ontime signing of the attendance list before leaving each class and lab. A student is penalized 1% for each absence or departure prior to the end of class and lab without a valid university excuse. No student will receive a failing grade FA (failed attendance) who incurs more than 6 unexcused absences. Students with more than two absences will not benefit from any course curves or bonus points.
2. Mid-term exams will be given in the next class following the completion of the necessary segment of the course as indicated in the syllabus. Exams will be announced at least a week ahead of time.
3. Students with official university excuse, including student athletes, should make arrangements to have their absences removed from the records and to take make-up puzzles or exams no later than a week after the said exam.
4. Special assistance is available for students who are physically challenged in terms of classroom
sitting, extra office tutorials, and special arrangements for taking exams.
. Students should take the dates
and times for exams into account in arranging their personal out-of-town commitments and for the
summer vacation.
TOPICS
1. What is Political Economy? 5 classes 2-3 labs.
We start by addressing the fundamental questions raised by the theory of political economy. Political
economy is an resource allocative system that combines the logic (reasoning) and methods of both politics
and economics. Resource allocation is the careful (calculated) assigning of scarce resources to the economic
functions of society: production, distribution, consumption, and prestige and wealth accumulation. The need
to combine the two systems of politics (also, state, government) and economics (also, market exchange or
market system) is based on the assumption that certain areas of allocation can only be efficient if the values
pertinent to these two systems are taken into consideration in arriving at decisions. Students should find
answers to the following questions: What does the allocation of resources mean? Why is it necessary to
allocate resources? How is political economy different from politics and economics? And how many models
of political economy are known and used around the world?
Required Readings:
Gadzey Chapter 1; Introduction
We start by addressing the fundamental questions raised by the theory of political economy. Political economy is a system of resource allocation that uses a combination of both politics (or the state) and economics (or market). Certain forms of production, distribution, consumption, and prestige and wealth accumulation can only be efficient if done through a combination of the two systems. In this chapter we focus on economics-the first of the two political economy systems to have been established already by the mid seventeenth century. In contrast to the highly centralized system of politics, economics is a decentralized system. While the chapter exposes the student to the three dimensions of economics, first as a set of market institutions, second as the interaction of the market forces of supply, demand, and prices, it the third dimension of economics as the logic behind rational economic decisions that is emphasized in political economy. It is here that its differences from politics are most significant and relevant to how resources are allocated
Required Readings:
Gadzey, Chapter 2. Economics
2 labs.
3. What is Politics? 5 classes 3 labsPolitics is the second of the two political economy systems. In contrast to the disaggregated economic system, politics is a highly aggregated or hierarchical system. It is a system based on power or the authoritative use of coercion. And the reason is to be found in the nature of politics. Emphasis is laid on man's social environment as the source of political conflict, and how the resolution of that conflict is not possible without recourse to a third authoritative party or government. But politics is not all about constraints and things the individual cannot do because he lives in society, but also and more often about the many things he can only do through collaboration with others.
Required Readings:
Gadzey, Chapter 3. Politics
2 labs4. Macroeconomics I: Macroeconomic Variables 7 classes 4 labs
Chapter four is the first of three chapters dealing with macroeconomics. Macroeconomics describes government economic stability and the instruments employed in the attempt to keep the economy from both protracted recession and inflation. This chapter exposes the student to the basic economic indicators that give the government as a guardian of the economy a sense of the health and direction of the economy. These will include the notion of economic growth measured in terms of the Gross National Product (GNP), economic fluctuations, forecasting, business cycles, the consumer price index, interest rates and the money supply, inflation, full employment economics, and recession and unemployment. All illustrations are drawn from recent U.S. economic history.
Required Readings:
Gadzey Chapter 3, Macroeconomics I: Macroeconomic Variables
(Date and Time as assigned according to the university exam schedule).