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College in the Schools - Course Offerings

Applied Economics (ApEc 1101, 1102)

FAQs about CIS Program
FAQs about CIS Applied Economics
Sample Syllabus and Other Syllabus Resources

Course Description:



APEC 1101. Principles of Microeconomics.



(3.0 cr [max 3.0 cr])



Theory of the household and firm; demand and supply; price determination; government in the market; market structures; agriculture and food; externalities and the environment; labor markets and unions; capital and interest; project evaluation; human capital.



APEC 1102. Principles of Macroeconomics.



(3.0 cr [max 3.0 cr]; prereq 1101 or Econ 1101)



Unemployment/inflation, measures of national income, macro models, fiscal policy/problems. Taxes and the national debt. Money/banking, monetary policy/problems. Poverty and income distribution. International trade and exchange rates. Economic growth/development.



Textbooks:

The following is the student text, which is required for the two-semester sequence. Prices may vary slightly depending on the vendor. Economics: Principles and Policy. 10th edition, by Baumol and Blinder. South-Western College Publishing, (2007).

Faculty Coordinator:

Donald Liu, Associate Professor, Department of Applied Economics. Phone 612-625-6765 or e-mail dliu@umn.edu.


Sample Syllabus for CIS Applied Economics
U of M Syllabus Resources and Requirements


Frequently Asked Questions

Are the readings specified or mandated by the University of Minnesota?  If not, what are the choices?

The main textbook is required: Baumol and Blinder (now in its 10th Edition).  Teachers adopted this text as a group when the program started.  Textbooks can be reconsidered whenever teachers would like.  Teachers are welcome to augment the text with additional readings of their choosing.

Do teachers have choice in assignments?  Are there required assignments?

There are two “common assignments” in each course, basically problem set papers with short essay answers too.  Teachers make up their own exams and other assignments.

Who creates the exams?

Individual teachers create exams, with support from the group (sample problem sets and exams shared).

Is there a mentoring system for new CIS Economics teachers?

Yes.  New teachers attend two formal new teacher workshops—the first concentrates on course related content and pedagogy, while the second introduces teachers to University processes and resources.  Veteran teachers also play an active part in daily mentoring for new teachers.

What happens at typical teacher workshops?

CIS teachers attend professional development workshops each term to stay current with U of M curriculum and the CIS program, to learn about innovative research, to network, and to share materials.  Workshops serve as faculty meetings with course and program development discussions with special attention dedicated to content, pedagogy, and assessment of the college courses.

What happens at typical student field days?

Student field days provide an opportunity for CIS students to meet their peers, practice skills they have learned in class, and explore the Twin Cities campus.  The applied economics student field day involves the use of citizen juries.  Students convene in the morning and divide into three large groups, each of which considers a different important economic issue.  They hear testimony from experts on several sides of the issue.  After hearing the experts, students adjourn into much smaller groups to conduct a jury discussion.  The students discuss and debate the assigned issue, and then take a vote and issue a majority report. Students who disagree with the report may issue a dissent.  Then a larger discussion takes place among all students whose jury discussed one particular issue, and they attempt to formulate a consensual position on that issue.  Finally, once that is done, they present their recommendation to an elected official who listens to and comments on their recommendations. The public official then conducts a general discussion of the issues involved.

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