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Sistema Universitario Ana G. Méndez School for Professional Studies
Florida Campuses Universidad del Este, Universidad Metropolitana, Universidad del Turabo
ECON 122
INTRODUCTION TO ECONOMICS (MACROECONOMICS)
INTRODUCCION A LA ECONOMIA (MACROECONOMIA)
© Sistema Universitario Ana G. Méndez, 2007
Derechos Reservados.
© Ana G. Méndez University System, 2007. All rights reserved
ECON 122 Introduction to Economics 2
Prep. 2008. Pablo Andrade, M.A.E.
TABLA DE CONTENIDO/TABLE OF CONTENTS
Página/Page
Prontuario ......................................................................................................................3
Study Guide .................................................................................................................12
Workshop One.............................................................................................................19
Taller Dos .....................................................................................................................26
Workshop Three ..........................................................................................................30
Taller Cuatro ................................................................................................................35
Workshop Five/Taller Cinco .......................................................................................40
Anejo A/Appendix A ....................................................................................................46
Anejo B/Appendix B ....................................................................................................48
Anejo C/Appendix C ....................................................................................................50
Anejo D/Appendix D ....................................................................................................52
Anejo E/Appendix E ....................................................................................................54
Anejo F/Appendix F.....................................................................................................56
Anejo G/Appendix G....................................................................................................57
Anejo H/Appendix H ....................................................................................................58
Anejo I/Appendix I .......................................................................................................59
Anejo J/Appendix J .....................................................................................................61
Anejo K/Appendix K ....................................................................................................62
Anejo L/Appendix L.....................................................................................................63
ECON 122 Introduction to Economics 3
Prep. 2008. Pablo Andrade, M.A.E.
PRONTUARIO
Título del Curso: Introducción a la Economía (Macroeconomía)
Codificación: ECON 122
Duración: Cinco semanas
Prerrequisito: ECON 121
Descripción: Este es un curso introductorio sobre la teoría macroeconómica
donde se desarrollarán diversos enfoques y teorías sobre la determinación del nivel de
producción, ingreso, empleo, precios y otras de las principales variables
macroeconómicas. En el mismo conocerán los ciclos económicos por los que pasan
las economías y las políticas de estabilización macroeconómicas.
Objetivos Generales
A. Familiarizar al estudiante con los diferentes enfoques teóricos y las polémicas
concernientes a los determinantes de producción, precio, empleo, así como a otras
variables macroeconómicas.
B. Familiarizar al estudiante con el desarrollo sistemático, riguroso y analítico de los
modelos teóricos para representar y explicar las variables macroeconómicas.
C Ayudar al estudiante a comprender los problemas económicos de la actualidad a
través de los conocimientos teóricos.
Texto y Recursos: McEachern, W. A. (2008). Economics: A Contemporary Introduction. (8th ed.).
South-Western College Publisher.
McEachern, W. A. (2005). Macroeconomics. (7th ed.). Thomson South-Western,
Lieberman, Mark, & Hall, R. E. (2004) Introduction to Economics (2nd ed.). South
Western College Publishing, Thomson Learning.
Sitios de Internet:
ECON 122 Introduction to Economics 4
Prep. 2008. Pablo Andrade, M.A.E.
Taller Uno
U.S. Census Bureau
http://www.census.gov/hhes/incomes/midclass/index.htm/
US Bureau of Labor Statistics
http://www.bls.gov/home.htm
Taller II
Economagic Indicators
http://www.economagic.com/popular.htm
St. Louis Federal Reserve Economic Data (FRED)
http://www.stls.frb.org/fred/
Taller III
U.S. Census Bureau
http://www.census.gov/hhes/incomes/midclass/index.htm/
Taller IV
Federal Reserve Board
htpp://www.federalreserve.gov
Unidad de Investigaciones Económicas, Universidad de Puerto Rico
htpp://rrrpac.upr.clu.edu:9090/economía/
Taller V
U.S Department of Commerce
http://www.commerce.gov/
http://www.usatradeonline.gov/
http://www.eco.nm.ru/
Referencias y material Suplementario
The American Journal of Economic Review
ECON 122 Introduction to Economics 5
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New York Times (Economy and Finance Sections)
Yahoo Finance (Internet)
Evaluación
Descripción de la evaluación
Trabajos para realizar previo a cada taller 10%
Antes de cada taller el/la estudiante deberá completar ciertas tareas asignadas que le
ayudarán a prepararse para las actividades que se realizarán en el taller. Los mismos,
constarán de una selección de ejercicios asignados del libro de texto o de la búsqueda
en la Internet de información básica conceptual que le ayudará en el proceso de
comprensión de los temas bajo estudio. Los mismos, deberán entregarse a partir de la
primera reunión en el salón de clase. Cada trabajo tiene un valor de 10 puntos. No
entregar éstos en el tiempo establecido conlleva un descuento de 2 puntos por cada
día de tardanza en la entrega. No se aceptará ningún trabajo luego de 3 días de la
fecha de entrega establecida.
Cuatro (4) trabajos cooperativos 15%
De la primera a la cuarta reunión, el/la estudiante tendrá la oportunidad de trabajar en
grupo con diferentes compañeros matriculados en el curso ECO 122. El facilitador
seleccionará aleatoreamente la distribución del estudiante por grupo. Cada grupo
trabajará una situación asignada que desarrollará y presentará a la clase. La solución
de dicho ejercicio se entregará al finalizar cada taller con el nombre de todos los
participantes por grupo. Habrá cuatro (4) trabajos cooperativos a partir del primer taller,
cada uno de ellos con un valor de 10 puntos. En la quinta reunión no se realizará esta
actividad ya que se presentarán los estudios de casos.
Cuatro (4) pruebas para realizar en los talleres 20%
A partir de la primera reunión y hasta el cuarto taller, una vez discutidas las tareas
realizadas previo a cada taller y de realizar los trabajos cooperativos, el/la estudiante
estará capacitado para contestar una prueba. La misma constará de opciones
múltiples y las preguntas serán relacionadas al tema discutido en el taller. La prueba
tendrá 10 preguntas, cada respuesta correcta tendrá un punto para un total de 10
ECON 122 Introduction to Economics 6
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puntos. Los estudiantes no podrán tomar la prueba en ningún otro día que no sea el día
en el cual se ha discutido el tema.
Trabajo Final: Estudio de caso 50%
Durante el quinto taller, el/la estudiante presentará un estudio de caso de manera oral y
escrita. Este, será un trabajo en grupo. Sin embargo, la evaluación considerará ambas:
variables de desempeño individual como grupal. Dependiendo de la cantidad de
estudiantes matriculados en el curso, el facilitador seleccionará aleatoreamente hasta
un máximo de cinco (5) grupos cuya composición no excederá cinco (5) estudiantes por
grupo. Cada uno de los grupos presentará a la clase el análisis del caso asignado. Este
trabajo tiene un valor total de 150 puntos. El facilitador deberá informar durante el taller
uno, cuáles serán los casos asignados.
Además, en esta reunión se formarán los grupos que trabajarán los casos. Se le
entregará a cada estudiante copia de los casos que analizarán. Las actividades
efectuadas en cada uno de los talleres, proveerán las destrezas necesarias para que el
estudiante pueda contestar estos ejercicios. (Ver Anejo A: Definición de estudio de
caso y cómo se analiza y Anejo B, C: Rúbrica para la evaluación de la
presentación oral y escrita del estudio de casos)
Asistencia 5%
La asistencia a todos los talleres es necesaria e indispensable. En caso de ausencia,
el/la estudiante debe realizar todas las gestiones necesarias para comunicarse con el
facilitador de manera que pueda prepararse adecuadamente para la próxima reunión.
Todas las actividades realizadas en el taller ausente, sujetas a evaluación, serán
consideradas y ponderadas de acuerdo con los parámetros específicos. Es decir, es
vigente la pérdida de puntuación por cada trabajo del cual no fue partícipe el/la
estudiante por causa de la ausencia.
Escala
La evaluación final se calculará a base de promedios ponderados pero considerando la
escala estándar de porcientos.
Porciento Nota
ECON 122 Introduction to Economics 7
Prep. 2008. Pablo Andrade, M.A.E.
90 – 100 A
80 – 89 B
70 – 79 C
60 – 69 D
50 o menos F
Descripción de las Normas del Curso
1. Este curso sigue el programa “Discipline-Based Dual-Language Model®” del
Sistema Universitario Ana G. Méndez, el mismo esta diseñado para promover el
desarrollo de cada estudiante como un profesional bilingüe. Cada taller será
facilitado en inglés y español, utilizando el modelo 50/50. Esto significa que cada
taller deberá ser conducido enteramente en el lenguaje especificado. Los
lenguajes serán alternados en cada taller para asegurar que el curso se ofrece
50% en inglés y 50% en español. Para mantener un balance, el módulo debe
especificar que se utilizarán ambos idiomas en el quinto taller, dividiendo el
tiempo y las actividades equitativamente entre ambos idiomas. Si un estudiante
tiene dificultad en hacer una pregunta en el idioma especificado, bien puede
escoger el idioma de preferencia para hacer la pregunta. Sin embargo, el
facilitador deberá contestar la misma en el idioma designado para ese taller.
Esto deberá ser una excepción a las reglas pues es importante que los
estudiantes utilicen el idioma designado. Esto no aplica a los cursos de lenguaje
que deben ser desarrollados en el idioma propio todo en inglés o todo en
español según aplique.
2. El curso es conducido en formato acelerado, eso requiere que los estudiantes se
preparen antes de cada taller de acuerdo al módulo. Cada taller requiere un
promedio de diez (10) horas de preparación y en ocasiones requiere más.
3. La asistencia a todos los talleres es obligatoria. El estudiante que se ausente al
taller deberá presentar una excusa razonable al facilitador. El facilitador
evaluará si la ausencia es justificada y decidirá como el estudiante repondrá el
trabajo perdido, de ser necesario. El facilitador decidirá uno de los siguientes:
ECON 122 Introduction to Economics 8
Prep. 2008. Pablo Andrade, M.A.E.
permitirle al estudiante reponer el trabajo o asignarle trabajo adicional en
adición al trabajo a ser repuesto.
Toda tarea a ser completada antes del taller deberá ser entregada en la fecha
asignada. El facilitador ajustará la nota de las tareas repuestas.
4. Si un estudiante se ausenta a más de un taller el facilitador tendrá las siguientes
opciones:
a. Si es a dos talleres, el facilitador reducirá una nota por debajo basado en
la nota existente.
b. Si el estudiante se ausenta a tres talleres, el facilitador reducirá la nota a
dos por debajo de la nota existente.
5. La asistencia y participación en clase de actividades y presentaciones orales es
extremadamente importante pues no se pueden reponer. Si el estudiante provee
una excusa válida y verificable, el facilitador determinará una actividad
equivalente a evaluar que sustituya la misma. Esta actividad deberá incluir el
mismo contenido y componentes del lenguaje como la presentación oral o
actividad a ser repuesta.
6. En actividades de grupo el grupo será evaluado por su trabajo final. Sin
embargo, cada miembro de grupo deberá participar y cooperar para lograr un
trabajo de excelencia, pero recibirán una calificación individual.
7. Se espera que todo trabajo escrito sea de la autoría de cada estudiante y no
plagiado. Se debe entender que todo trabajo sometido esta citado
apropiadamente o parafraseado y citado dando atención al autor. Todo
estudiante debe ser el autor de su propio trabajo. Todo trabajo que sea plagiado,
copiado o presente trazos de otro será calificado con cero (vea la política de
honestidad académica).
8. Si el facilitador hace cambios al módulo o guía de estudio, deberá discutirlos y
entregar copia a los estudiantes por escrito al principio del primer taller.
9. El facilitador establecerá los medios para contactar a los estudiantes proveyendo
su correo electrónico, teléfonos, y el horario disponibles.
10. EL uso de celulares esta prohibido durante las sesiones de clase; de haber una
necesidad, deberá permanecer en vibración o en silencio.
ECON 122 Introduction to Economics 9
Prep. 2008. Pablo Andrade, M.A.E.
11. La visita de niños y familiares no registrados en el curso no está permitida en el
salón de clases.
12. Todo estudiante esta sujeto a las políticas y normas de conducta y
comportamiento que rigen al SUAGM y el curso.
Nota: Si por alguna razón no puede acceder las direcciones electrónicas
ofrecidas en el módulo, no se limite a ellas. Existen otros motores de búsqueda y
sitios Web que podrá utilizar para la búsqueda de la información deseada. Entre
ellas están:
• www.google.com
• www.altavista.com
• www.ask.com
• www.excite.com
• www.pregunta.com
• www.findarticles.com
• www.telemundo.yahoo.com
• www.bibliotecavirtualut.suagm.edu
• www.eric.ed.gov/
• www.flelibrary.org/
El/la facilitador(a) puede realizar cambios a las direcciones electrónicas y/o
añadir algunas de ser necesario.
ECON 122 Introduction to Economics 10
Prep. 2008. Pablo Andrade, M.A.E.
Filosofía y Metodología Educativa
Este curso está basado en la teoría educativa del Constructivismo.
Constructivismo es una filosofía de aprendizaje fundamentada en la premisa, de que,
reflexionando a través de nuestras experiencias, podemos construir nuestro propio
conocimiento sobre el mundo en el que vivimos.
Cada uno de nosotros genera nuestras propias “reglas “y “métodos mentales”
que utilizamos para darle sentido a nuestras experiencias. Aprender, por lo tanto, es
simplemente el proceso de ajustar nuestros modelos mentales para poder acomodar
nuevas experiencias. Como facilitadores, nuestro enfoque es el mantener una
conexión entre los hechos y fomentar un nuevo entendimiento en los estudiantes.
También, intentamos adaptar nuestras estrategias de enseñanza a las respuestas de
nuestros estudiantes y motivar a los mismos a analizar, interpretar y predecir
información.
Existen varios principios para el constructivismo, entre los cuales están:
1. El aprendizaje es una búsqueda de significados. Por lo tanto, el aprendizaje debe
comenzar con situaciones en las cuales los estudiantes estén buscando
activamente construir un significado.
2. Significado requiere comprender todas las partes. Y, las partes deben entenderse
en el contexto del todo. Por lo tanto, el proceso de aprendizaje se enfoca en los
conceptos primarios, no en hechos aislados.
3. Para enseñar bien, debemos entender los modelos mentales que los estudiantes
utilizan para percibir el mundo y las presunciones que ellos hacen para apoyar
dichos modelos.
4. El propósito del aprendizaje, es para un individuo, el construir su propio significado,
no sólo memorizar las contestaciones “correctas” y repetir el significado de otra
persona. Como la educación es intrínsicamente interdisciplinaria, la única forma
válida para asegurar el aprendizaje es hacer del avalúo parte esencial de dicho
proceso, asegurando que el mismo provea a los estudiantes con la información
sobre la calidad de su aprendizaje.
5. La evaluación debe servir como una herramienta de auto-análisis.
ECON 122 Introduction to Economics 11
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6. Proveer herramientas y ambientes que ayuden a los estudiantes a interpretar las
múltiples perspectivas que existen en el mundo.
7. El aprendizaje debe ser controlado internamente y analizado por el estudiante.
ECON 122 Introduction to Economics 12
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STUDY GUIDE
Course Title: Introduction to Economics (Macroeconomics)
Code: ECON 122
Time Length: Five Weeks
Pre-requisite: ECON121
Description: This course will present the study of economics from a practical
viewpoint so the student will be able to make knowledgeable and informed business
decisions. Some of the aspects to be covered are: introduction to macroeconomics
aggregate supply and demand, national income accounting, classic supply and demand
theory, banking and money supply, federal budget and public policy and its application
to market analysis.
General Objectives
Upon completion of this course the student will be able to:
a. Summarize and or define the most significant theoretical characteristics and most
relevant concepts of macroeconomics and the fundamental aspects related to
growth, banking system, and monetary policy.
b. Familiarize the students with theory models using macroeconomics variables.
c. Apply macroeconomics theory into today’s economics problems.
Text and Resources
McEachern, William A.. (1998) Economics: A Contemporary Introduction.
Thomson Learning ISBN 0324072910.
McConnell, Campbell, R. y Stanley L. Brue (1997) Economía. McGraw Hill, Colombia
McEachern, William Macroeconomics: Thomson Learning, ISBN 0-324-07292-9
Lieberman, Mark y Robert Hall (1999) Introduction to Economics. South Western
College Publishing, Thomson Learning ISBN 0-324-00879-1
Electronic Links (URLs):
Workshop I
U.S. Census Bureau
http://www.census.gov/hhes/incomes/midclass/index.htm/
ECON 122 Introduction to Economics 13
Prep. 2008. Pablo Andrade, M.A.E.
US Bureau of Labor Statistics
http://www.bls.gov/home.htm
The Bereau of Economic Analysis
http:// www.bea.doc.gov/
Workshop II
Economagic Indicators
http://www.economagic.com/popular.htm
St. Louis Federal Reserve Economic Data (FRED)
http://www.stls.frb.org/fred/
Workshop III
U.S. Census Bureau
http://www.census.gov/hhes/incomes/midclass/index.htm/
Workshop IV
Federal Reserve Board
htpp://www.federalreserve.gov
Unidad de Investigaciones Económicas, Universidad de Puerto Rico
htpp://rrrpac.upr.clu.edu:9090/economía/
Workshop V
U.S Department of Commerce
http://www.commerce.gov/
http://www.usatradeonline.gov/
References and Supplementary Material
The American Journal of Economic Review
New York Times (Economy and Finance Sections)
Yahoo Finance (Internet)
ECON 122 Introduction to Economics 14
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Evaluation
Evaluation’s description
Assignment to do previous to each workshop 10%
Previous to each workshop the students will turn in assignments related with the topic in
the workshop. The assignments will be selected from examples in the textbook or
Internet sites related with the workshop topic. The assignments must be submitted
starting at the first meeting. Each assignment will be worth with 10 points. Each late
assignment will be penalized with 2 points per day of delay. No assignment will be
received after 3 days from the due date.
Group assignments (4) 15% Group activities will be performed in class starting on workshop one until workshop
fourth. The student will have the opportunity to work with different classmates registered
in ECON 122.The facilitator will select randomly the student distribution in each group.
Each group will be in charge of develop and present a specific activity to the class. The
group activity will be turn in to the facilitator at the end of the class.
Workshop quizzes (4) 20% Begining on meeting one until workshop fourth, after the group activities have been
completed the students will be able to take an in-class quiz. The quiz will contain a
multiple choice questions related with the topic discussed in the workshop. Each correct
answer worth 1 point for a total of 10 possible points. The students will not be able to
make-up the quizzes.
Final Assignment: Case of study 50% During workshop five the students will be able to sustain a case of study, which consist
in an oral and writing presentation. The case of study will be a group assignment.
However, the evaluation will be handling in both ways: individual and group
participation. Based upon the number of students registered in this course, the facilitator
will select at random a maximum of five (5) groups with no more of five (4) students in
ECON 122 Introduction to Economics 15
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each group. Each group will present to the class the analysis of case of study. During
workshop one, the facilitator will inform the students what case of study will be
assigned. Furthermore, in this initial meeting all groups will be formed. The facilitator will
submit to each student a copy of the case of study. The class activities will supply to the
students the skills necessary to develop the final project (See annex A: Case study
definition and analysis. Annex B, C: Rubric evaluation for oral and writing presentation
of case study ).
Attendance 5% Attendance is mandatory in all the workshops. In case of absence, the student will
communicate the facilitator. All the activities sustained in his absence will be subject to
an evaluation based upon specific parameters. In other words, the student will be
penalized for each assignment that he/she did not participate due to his/her absence.
Scale
The final grading will be calculated base on average grades within the standard
percentages scale.
Percentage Grade
90 – 100 A 80 – 89 B 70 – 79 C 60 – 69 D 0 – 59 F
ECON 122 Introduction to Economics 16
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Description of course policies
1. This course follows the Sistema Universitario Ana G. Méndez Dual-Language
Discipline-Based Immersion Model® designed to promote each student’s
development as a Dual Language Professional. Workshops will be facilitated in
English and Spanish, strictly using the 50/50 model. This means that each workshop
will be conducted entirely in the language specified. The language used in the
workshops will alternate to insure that 50% of the course will be conducted in
English and 50% in Spanish. To maintain this balance, the course module may
specify that both languages will be used during the fifth workshop, dividing that
workshop’s time and activities between the two languages. If students have difficulty
with asking a question in the target language in which the activity is being
conducted, students may choose to use their preferred language for that particular
question. However, the facilitator must answer in the language assigned for that
particular day. This should only be an exception as it is important for students to use
the assigned language. The 50/50 model does not apply to language courses where
the delivery of instruction must be conducted in the language taught (Spanish or
English only).
2. The course is conducted in an accelerated format and requires that students prepare
in advance for each workshop according to the course module. Each workshop
requires an average ten hours of preparation but could require more.
3. Attendance at all class sessions is mandatory. A student that is absent to a
workshop must present the facilitator a reasonable excuse. The facilitator will
evaluate if the absence is justified and decide how the student will make up the
missing work, if applicable. The facilitator will decide on the following: allow the
student to make up the work, or allow the student to make up the work and assign
extra work to compensate for the missing class time.
Assignments required prior to the workshop must be completed and turned in on the
assigned date. The facilitator may decide to adjust the grade given for late
assignments and make-up work.
4. If a student is absent to more than one workshop the facilitator will have the
following options:
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a. If a student misses two workshops, the facilitator may lower one grade based
on the students existing grade.
b. If the student misses three workshops, the facilitator may lower two grades
based on the students existing grade.
5. Student attendance and participation in oral presentations and special class
activities are extremely important as it is not possible to assure that they can be
made up. If the student provides a valid and verifiable excuse, the facilitator may
determine a substitute evaluation activity if he/she understands that an equivalent
activity is possible. This activity must include the same content and language
components as the oral presentation or special activity that was missed.
6. In cooperative activities the group will be assessed for their final work. However,
each member will have to collaborate to assure the success of the group and the
assessment will be done collectively as well as individually.
7. It is expected that all written work will be solely that of the student and should not be
plagiarized. That is, the student must be the author of all work submitted. All quoted
or paraphrased material must be properly cited, with credit given to its author or
publisher. It should be noted that plagiarized writings are easily detectable and
students should not risk losing credit for material that is clearly not their own (see
Academic Honesty Policy).
8. If the Facilitator makes changes to the study guide, such changes should be
discussed with and given to students in writing at the beginning of the first workshop.
9. The facilitator will establish a means of contacting students by providing an email
address, phone number, hours to be contacted and days.
10. The use of cellular phones is prohibited during sessions; if there is a need to have
one, it must be on vibrate or silent mode during class session.
11. Children or family members that are not registered in the course are not allowed to
the classrooms.
12. All students are subject to the policies regarding behavior in the university
community established by the institution and in this course.
ECON 122 Introduction to Economics 18
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Note: If for any reason you cannot access the URL’s presented in the module, do
not stop your investigation. There are many search engines and other links you
can use to search for information. These are some examples:
• www.google.com
• www.altavista.com
• www.ask.com
• www.excite.com
• www.pregunta.com
• www.findarticles.com
• www.telemundo.yahoo.com
• www.bibliotecavirtualut.suagm.edu
• www.eric.ed.gov/
• www.flelibrary.org/
The facilitator may make changes or add additional web resources if deemed
necessary.
ECON 122 Introduction to Economics 19
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Teaching Philosophy and Methodology
This course is grounded in the learning theory of Constructivism. Constructivism
is a philosophy of learning founded on the premise that, by reflecting on our
experiences, we construct our own understanding of the world in which we live.
Each of us generates our own “rules” and “mental models,” which we use to make
sense of our experiences. Learning, therefore, is simply the process of adjusting our
mental models to accommodate new experiences. As teachers, our focus is on making
connections between facts and fostering new understanding in students. We will also
attempt to tailor our teaching strategies to student responses and encourage students to
analyze, interpret and predict information.
There are several guiding principles of constructivism:
1. Learning is a search for meaning. Therefore, learning must start with the issues
around which students are actively trying to construct meaning.
2. Meaning requires understanding wholes as well as parts. And parts must be
understood in the context of wholes. Therefore, the learning process focuses on
primary concepts, not isolated facts.
3. In order to teach well, we must understand the mental models that students use to
perceive the world and the assumptions they make to support those models.
4. The purpose of learning is for an individual to construct his or her own meaning, not
just memorize the "right" answers and regurgitate someone else's meaning. Since
education is inherently interdisciplinary, the only valuable way to measure learning is
to make the assessment part of the learning process, ensuring it provides students
with information on the quality of their learning.
5. Evaluation should serve as a self-analysis tool.
6. Provide tools and environments that help learners interpret the multiple perspectives
of the world.
7. Learning should be internally controlled and mediated by the learner.
Workshop One
Specific Objectives
1. Become familiar with GDP concept and GDP components.
2. Explain the circular flow.
ECON 122 Introduction to Economics 20
Prep. 2008. Pablo Andrade, M.A.E.
3. Calculate GDP by income and expenditure approach.
4. Explain the difference between Real GDP and Nominal GDP.
5. Apply GDP concepts to real case scenarios.
6. Elaborate graphs and tables with GDP data
Language Objectives
1. Reading: The student will read and explain economic definitions assigned during the
first week. The student will read an article in class related to GDP and will explain the
content to the class.
2. Writing: The student will define economic terms using full sentences. The student will
use correct grammar (verb tenses, subject-verb agreement, etc) when writing a
sentence Related to Student’s writing activities.
3. Speaking: The student will use appropriate pronunciation in both languages. The
student will use appropriate intonation when speaking in class.
Electronic Links (URLs)
The Bureau of Economic Analysis
http://www.bea.doc.gov/
US Bureau of Labor Statistics
http://www.bls.gov/home.htm
Data 360
http://www.data360.org/index.aspx
National Science Foundation
http://www.nsf.gov/
Business week
http://www.businessweek.com/
The Economist
http://www.economist.com/
International monetary fund
http://www.imf.org
The World Bank
http://www.worldbank.org/
ECON 122 Introduction to Economics 21
Prep. 2008. Pablo Andrade, M.A.E.
The financial forecast center
http://www.forecasts.org/gdp.htm
Washington post
http://www.washingtonpost.com/
Assignments before Workshop One:
1. Read the recommended URL’s, textbooks and other reference materials. Pay
close attention to the rubrics in the Appendix section. These rubrics will be used
to assess your knowledge.
2. The student will search information about basic macroeconomic concepts. The
students will elaborate a written assignment with definitions of gross domestic
product (GDP); obtain examples for each definition; provide analysis/conclusions;
and references. Students can make up an assignment; a 10% penalty per day in
each late assignment will be imposed. No assignment will be received after 3
days from the due day.
3. The students will read an article related with U.S. Gross Domestic Product from
the URL’s, textbooks or any other reference materials and will discuss in class.
Activities
1. The facilitator and the students will introduced themselves by engaging in an
icebreaking activity suggested by the facilitator.
The facilitator will divide the class in groups of three or four students. Each group will
work on the following practical exercise related to the workshop topic.
2. Answer the next question(s) on the basis of the following data. All figures are in
billions of dollars.
Net investment $70.00 Consumption $150.00 Government expenditure $50.00 Depreciation $30.00 Exports $12.00 Imports $25.00
Refer to the above data. Calculate:
a. GDP b. Gross Investment.
ECON 122 Introduction to Economics 22
Prep. 2008. Pablo Andrade, M.A.E.
3. Using the following table determine the GDP by both the expenditures and the
income approach.
Personal consumption $245.00
Net foreign factor income
Earned in the U.S -$ 4.00
Rents $ 14.00
Depreciation $ 27.00
Interest $ 13.00
Proprietor’s income $ 33.00
Net export $ 11.00
Compensation of employees $ 250.00
Taxes in production and imports $ 26.00
Corporate profits $ 56.00
Government purchases $ 72.00
Net private domestic investment $ 33.00
4. Assume an economy that is producing only one product and that year 3 is the
base year. Output and price data for a five-year period are as follows. Answer
the next question(s) on the basis of these data.
Year Quantity Price per unit
1 3 3
2 4 4
3 6 5
4 7 7
5 8 8
Refer to the above data. Calculate:
a. If year 1 is chosen as the base year, what is the price index for all the
years?
ECON 122 Introduction to Economics 23
Prep. 2008. Pablo Andrade, M.A.E.
b. What is the nominal GDP for year 4?
c. What is the Real GDP for year 5?
5. Which of the following are included in this year’s GDP?
a. Interest on an AT&T corporate bond. b. Social security payments received by a retired factory worker.
c. The services of a painter in painting the family home.
d. The money received by Smith when she shells her economics textbook to a book
buyer.
e. The monthly allowance a college student receives from home.
f. Rent received on a two-bedroom apartment.
g. The money received by Carlos when he resells his current-year-model Honda Civic to Andrea.
h. The purchase of an insurance policy.
i. The purchase of 100 shares of GM common stock
6. Assume an economy that is producing only one product. Output and price data
for a three-year period are as follows. Answer the next question(s) on the basis
of these data.
Year Quantity Price per unit
1 20 4
2 25 4
3 30 6
Refer to the above data. Calculate:
a. If year 2 is chosen as the base year, what is the price index for year 1?
b. What is the nominal GDP for year 3?
ECON 122 Introduction to Economics 24
Prep. 2008. Pablo Andrade, M.A.E.
c. If year 2 is chosen for the base year, what is nominal and real GDP for
year 3?
7. Round-table: The students will exposure the article read from one of the
resources in the module and will have an open discussion in class.
8. Quiz # 1 – Multiple-choice type.
Assessment:
Class activities
The student will have the opportunity to apply the theory learned in class to real cases
experiments. These activities will be interactive and collaborative. The student will
complete each activity and will keep a portfolio for review at the end of the five weeks.
Students will receive one point for each complete activity. The student who doesn’t
complete the activity will receive an incomplete grade equal to zero. The student can
make up an activity; a 10% penalty in each late activity per day will be imposed. No
activities will be received after 3 days from the due day. (see rubric in annex C).
Class participation
Classroom participation consists of continue interaction between the facilitator and
students in the classroom. Students are welcome to bring personal/labor experiences
related with the topic. Students will participate in short discussion articles and/or
business examples. For the most part these participation will be collaborative and
interactive; hence an excellent way to break from the traditional lecture format. Class
participation will be assessed based upon the rubric in annex D.
Assignments
Each assignment will be evaluated based upon de following criteria: definitions (2.5
points); examples (2.5 points); analysis/conclusion (2.5 points); references (2.5 points)
(see rubric in annex E). The student who doesn’t complete the assignments will receive
an incomplete grade equal to zero. The student can make up an assignment; a 10%
penalty in each late assignment per day will be imposed. No assignments will be
received after 3 days from the due day.
ECON 122 Introduction to Economics 25
Prep. 2008. Pablo Andrade, M.A.E.
Quiz # 1
The students will be ready to take quiz #1. The quizzes will contain question relevant to
the workshop topic discussed during class. The quiz contents 10 multiple-choice type
questions. Each correct answer has a value of 1 point for a total of 10 points. Each quiz
should be completed within 20 minutes.
ECON 122 Introduction to Economics 26
Prep. 2008. Pablo Andrade, M.A.E.
Taller Dos
Objetivos Específicos
1. Explicar el concepto de desempleo y los tipos de desemplo.
2. Calcular la tasa de desempleo en la economia.
3. Explicar la relacion entre desempleo y producto interno bruto.
4. Revisar la teoria de la tasa natural de desempleo.
4. Calcular la tasa de inflacion.
5. Explicar los efectos de la inflacion en la economia.
Objetivos del Lenguaje:
1. Escribir: El estudiante definirá los conceptos de desempleo e inflacion utilizados en el
taller II. El estudiante utilizara la gramática adecuadamente (verbos, preposiciones,
oraciones completas, etc.).
2. Hablar: El estudiante utilizara una pronunciación adecuada en ambos idiomas. El
estudiante utilizara un tono de voz apropiado para un salón de clases.
3. Leer: El estudiante leerá las definiciones económicas investigadas en la tarea del
taller II. El estudiante tendrá la oportunidad de leer un articulo en clase y explicará el
contenido del mismo en clase.
Enlaces Electrónicos:
US Bureau of Labor Statistics
http://www.bls.gov/home.htm
Economagic Indicators
http://www.economagic.com/popular.htm
US Department of Labor:
http://www.dol.gov
National Bureau of Economic Research
http://www.nber.org/
National Council of Economic Education
http://www.ncee.net
Council on Foreign Relations
http://www.cfr.org/
ECON 122 Introduction to Economics 27
Prep. 2008. Pablo Andrade, M.A.E.
National public radio
http://www.npr.org/
Businessweek
http://www.businessweek.com/
The Economist
http://www.economist.com/
Oracle thinkquest
http://www.thinkquest.org/library
Asignaciones antes del Taller:
1. Revisar los sitios de internet y libros de texto recomendados. Revisar la matriz
valorativa en la sección de anejos Las matrices servirán para evaluar su
conocimiento del tema.
2. Los estudiantes buscaran información sobre definiciones de desempleo e inflación.
Los estudiantes presentarán un escrito sobre las deficiones de desempleo
estructural, friccional, ciclico y temporal. Ademas, traerán las definiciones de
inflación y el efecto de la inflación en la economia. Definiciones impresas
directamente de los sitios de internet no serán acceptados.
3. Los estudiantes buscarán un articulo en el internet relacionado con inflación y lo
discutirán en clase.
4. Los estudiantes buscarán un articulo relacionado con desempleo en el internet y lo
discutirán en clase.
Actividades
1. Los estudiantes realizarán una encuesta a 10 miembros de la Universidad incluido
el/la encuestador/a para determinar el mercado laboral. Realizarán preguntas sobre
empleo, desempleo y fuerza laboral luego calcularán la tasa de desempleo y la
fuerza laboral en el mercado universitario.
2. Basado en la siguiente tabla, calcule: a. Fuerza laboral total.
b. Tasa de desempleo por cada año.
ECON 122 Introduction to Economics 28
Prep. 2008. Pablo Andrade, M.A.E.
2. 3. 3.
3. Evalué como los siguientes individuos podrían ser afectados por una inflación
anticipada de 10 porciento por año:
a. Un jubilado cuyo único ingreso es la compensación del seguro social.
b. Un empleado de un restaurant de comida rápida.
c. Un trabajador petrolero que pertenece a un sindicato.
d. El dueño de una hacienda con gran cantidad de deudas.
e. Un ejecutivo retirado cuyo ingreso mensual depende únicamente de los
intereses pagados por bonos del gobierno.
f. El dueño de un pequeño negocio.
4. Determine cuál de los siguientes ejemplos se podría considerar como empleo
friccional, estructural, temporal o cíclico:
a. Un empleado de UPS quien ha sido contratado para las Navidades fue
despedido luego de la temporada navideña.
b. Un trabajador ha sido despedido debido a una caída de la demanda
agregada en la economía.
c. Un trabajador de la fábrica de maquinas de escribir fue despedido debido
a que las computadoras están reemplazando a las maquinas de escribir.
d. Un recién graduado de la universidad está buscando desempleo durante
el verano.
5. Basado en la información de la siguiente tabla, calcule:
a. El IPC (índice de precios al consumidor) para el año 2007, tomando en consideración los precios del año 2000 (precio base).
2005 2006
Población adulta mayor a 16 años
100 million 200 million
Empleados 80 million 130 million
Personas buscando trabajo
8 million 10 million
Personas que no están buscando
trabajo
12 million 60 million
ECON 122 Introduction to Economics 29
Prep. 2008. Pablo Andrade, M.A.E.
b. Cuál es la tasa de inflación en el año 2007.
Precios del año 2000
Cantidad Precios del año 2007
Cervezas $2.50 10 $3.15 Hamburguesas $1.89 20 $2.15 Cine $5.50 6 $8.50 DVD películas $19.00 60 $14.99
6. Dado la siguiente información calcule la tasa de inflación para los años 2, 3 and 4. Calcule el salario real y la tasa de interés real para cada año:
Año IPC Tasa de
inflación Salario nominal
Salario real
Tasa de interés nominal
Tasa de interés real
1 100 $10.00 16% 2 110 $12.00 15% 3 120 $13.00 13% 4 115 $12.75 8%
7. Mesa redonda: Los estudiantes expondrán el articulo investigado sobre inflación y desempleo y se tendrá abierta en clase.
8. Examen # 2, opciones múltiples.
Avalúo
Actividades en clase. El estudiante tendrá la oportunidad de aplicar la teoría aprendida en el salón de clase
con experimentos de casos reales. Estas actividades serán interactivas y colaborativas.
El estudiante completaran las actividades en el salón de clase y mantendrá un
portafolio que será entregado en el taller cinco (ver anejo D). Los estudiantes recibirán
un punto por cada actividad cumplida. Los estudiantes que no entreguen las
actividades recibirán una nota de incumplimiento equivalente a cero. Los estudiantes
que no asistieron podrán entregar las actividades en otro dia. Una penalidad de 10% de
ECON 122 Introduction to Economics 30
Prep. 2008. Pablo Andrade, M.A.E.
la nota diaria será impuesta en cada actividad atrasada. No se resiviran actividades
atrasadas despues del tercer dia de la fecha de entrega pactada.
Participación en clase.
El estudiante participara activamente de discusiones cortas de artículos relacionados
con el tema de clase y ejemplos prácticos de la situación actual de la economía. Esta
participación será una interacción entre el facilitador y los estudiantes permitiendo de
esta manera romper con el sistema tradicional de enseñanza. La participación de clase
será evaluada de acuerdo a la rubrica en el anejo C.
Tareas.
Las tareas serán evaluadas bajo la siguiente modalidad: definiciones (2.5 puntos);
ejemplos (2.5 puntos), análisis/conclusiones (2.5 puntos), bibliografía/referencias (2
puntos) (ver anejo E). Los estudiantes que no asistieron podrán entregar las tareas en
otro dia pero esta a su vez será acumulativa. Una penalidad de 10% de la nota diaria
será impuesta en cada actividad atrasada. No se resiviran actividades atrasadas
despues del tercer dia de la fecha de entrega pactada (ver anejo E).
Examen # 2:
El estudiante estará dispuesto a tomar el examen # 2 al final de la clase. El tipo de
examen es de opción múltiple. Cada respuesta correcta tiene un valor de 1 para un
total de 10 puntos. El examen evaluara el conocimiento adquirido de los estudiantes
sobre el tema tratado en el taller # 2. El estudiante tendrá 20 minutos para resolver el
examen.
Workshop Three
Specific Objectives
1. Define the aggregate demand and supply model.
2. Explain the components of aggregate demand and supply.
3. Calculate the marginal propensity to consume and save.
4. Calculate the multiplier and the effect in the aggregate demand.
5. Have an understanding of fiscal policy and applications.
ECON 122 Introduction to Economics 31
Prep. 2008. Pablo Andrade, M.A.E.
Language Objectives
1. Reading: The student will read and explain economic definitions assigned during the
first week. The student will read an article in class related to fiscal policy and will explain
the content to the class.
2. Writing: The student will define economic terms using full sentences. The student will
use correct grammar (verb tenses, subject-verb agreement, etc) when writing a
sentence Related to Student’s writing activities.
3. Speaking: The student will use appropriate pronunciation in both languages. The
student will use appropriate intonation when speaking in class.
Electronic Links (URLs)
The Federal Reserve Bank
http://www.federalreserve.gov
The Bureau of Economic Analysis
http://www.bea.doc.gov
U.S. Bureau of Labor Statistics
http://www.bls.gov/home.htm
Data 360
http://www.data360.org/index.aspx
National Science Foundation
http://www.nsf.gov
Businessweek
http://www.businessweek.com
The Economist
http://www.economist.com
Economagic indicators
http://www.economagic.com
Financial pipeline
http://www.finpipe.com/
The library of economics and liberty
http://www.econlib.org/
Assignments before Workshop Three:
ECON 122 Introduction to Economics 32
Prep. 2008. Pablo Andrade, M.A.E.
1. Read the recommended URL’s, textbooks and other reference materials. Pay close
attention to the rubrics in the Appendix section. These rubrics will be used to assess
your knowledge.
2. The student will search information about marginal propensity to consume,
multiplier, and fiscal policy. The students will elaborate a written assignment with
definitions of marginal propensity to consume and fiscal policy; obtain examples for
each definition; provide analysis/conclusions; and references. Students can make up
an assignment; a 10% penalty per day in each late assignment will be imposed. No
assignment will be received after 3 days from the due day.
3. The students will read an article related with U.S. fiscal policy from the URL’s,
textbooks or any other reference materials and will discuss in class.
Activities:
1. Explain how each of the following will affect the consumption schedules or
the investment schedule, other things equal:
a. A large increase in the value of real estate, including private houses.
b. A decline in the real interest rate.
c. A sharp, sustained decline in stock prices.
d. An increase in the rate of population growth.
e. The development of a cheaper method of manufacturing computer chips.
f. A sizable increase in the retirement age for collecting Social Security
benefits.
g. The expectations that high inflation will persist in the next years.
h. An increase in the Federal personal income tax.
2. Complete the following table:
GDP C S MPC MPS
$260 $0 $280 $4 $300 $8
ECON 122 Introduction to Economics 33
Prep. 2008. Pablo Andrade, M.A.E.
$320 $12 $340 $16 $360 $20
a. What is the expenditure multiplier? b. How much the GDP would increase if consumption increases $20 billion in the economy?
3. Use these sets of data to graph the aggregate demand and aggregate supply curves.
Amount of real GDP demanded (billions)
Price level (price index)
Amount of real GDP supplied
Full employment GDP(billions)
$100 300 $450 100 200 250 400 200 300 200 300 300 400 150 200 400 500 100 100 500
a. What is the equilibrium price level and equilibrium level of real output in the economy? b. Suppose that buyers desire to purchase $200 billion of extra rear domestic output at each price level. Sketch in the new aggregate demand curve as AD1. What is the new equilibrium price level and level of real output? c. If full employment in this economy remains at 300 billions, the new equilibrium output in AD1 will create an inflationary gap or a recessionary gap? What will be the consequences of this gap?
Assessment
Class activities
The student will have the opportunity to apply the theory learned in class to real cases
experiments. These activities will be interactive and collaborative. The student will
ECON 122 Introduction to Economics 34
Prep. 2008. Pablo Andrade, M.A.E.
complete each activity and will keep a portfolio for review at the end of the five weeks.
Students will receive one point for each complete activity. The student who doesn’t
complete the activity will receive an incomplete grade equal to zero. The student can
make up an activity; a 10% penalty in each late activity per day will be imposed. No
activities will be received after 3 days from the due day. (see rubric in annex C).
Class participation
Classroom participation consists of continue interaction between the facilitator and
students in the classroom. Students are welcome to bring personal/labor experiences
related with the topic. Students will participate in short discussion articles and/or
business examples. For the most part these participation will be collaborative and
interactive; hence an excellent way to break from the traditional lecture format. Class
participation will be assessed based upon the rubric in annex D.
Assignments
Each assignment will be evaluated based upon de following criteria: definitions (2.5
points); examples (2.5 points); analysis/conclusion (2.5 points); references (2.5 points)
(see rubric in annex E). The student who doesn’t complete the assignments will receive
an incomplete grade equal to zero. The student can make up an assignment; a 10%
penalty in each late assignment per day will be imposed. No assignments will be
received after 3 days from the due day.
Quiz # 3
The students will be ready to take quiz #3. The quizzes will contain question relevant to
the workshop topic discussed during class. The quiz contents 10 multiple-choice type
questions. Each correct answer has a value of 1 point for a total of 10 points. Each quiz
should be completed within 20 minutes.
ECON 122 Introduction to Economics 35
Prep. 2008. Pablo Andrade, M.A.E.
Taller Cuatro
Objetivos Específicos
1. Reconocer las funciones del dinero y la creación del dinero.
2. Definir los diferentes tipos de dinero en la economía.
3. Explicar el rol del banco central en el sistema bancario.
4. Reconocer la relación entre demanda y oferta de dinero.
5. Revisar la política monetaria aplicada en la economía.
Objetivos del Lenguaje:
1. Escribir: El estudiante definirá los conceptos de dinero, tipos de dinero, y
herramientas de política monetaria utilizadas en el taller IV. El estudiante utilizará la
gramática adecuadamente (verbos, preposiciones, oraciones completas, etc.).
2. Hablar: El estudiante utilizará una pronunciación adecuada en ambos idiomas. El
estudiante utilizará un tono de voz apropiado para un salón de clases.
3. Leer: El estudiante leerá las definiciones económicas investigadas en la tarea del
taller IV. El estudiante tendrá la oportunidad de leer un artículo en clase y explicara el
contenido del mismo en clase.
Enlaces Electrónicos:
The Federal Reserve Bank
http://www.federalreserve.gov
Wallstreet
http://www.wallstreet.com
The White House
http://www.whitehouse.gov/fsbr/money.html
The Journal of Internet Banking and Commerce
http://www.arraydev.com/commerce/JIBC/current.asp
First Monday
http://www.firstmonday.org
National Bureau of Economic Research
http://www.nber.org
ECON 122 Introduction to Economics 36
Prep. 2008. Pablo Andrade, M.A.E.
International Monetary Fund
http://www.imf.org
Economics.about.com
http://economics.about.com
Businessweek
http://www.businessweek.com/
The Economist
http://www.economist.com
Asignaciones antes del Taller:
1. Revisar los sitios de internet y libros de texto recomendados. Revisar la rúbrica
en la sección de anejos Las rubricas servirán para evaluar su conocimiento del
tema.
2. Los estudiantes buscarán información sobre las funciones del dinero y tipos de
dinero en la economía. Los estudiantes presentarán un escrito sobre las funciones
del dinero y los tipos de dinero en la economía.
Definiciones impresas directamente de los sitios de internet no serán
aceptadas.
3. Los estudiantes buscarán un artículo en el internet relacionado con política
monetaria y lo discutirán en clase.
4. Los estudiantes buscarán un articulo relacionado con tasas de interés en el
internet y lo discutirán en clase.
Actividades:
1. Por favor ordene las siguientes cuentas desde el activo con mayor grado de
liquidez (entiéndase el activo que puede convertirse en dinero efectivo más
rápidamente) hasta el activo con menor grado de liquidez.
a. Bienes raíces (casas).
b. Bonos y acciones.
c. Certificados de depósitos (CD’s)
d. Cash
e. Oficinas de venta en edificios comerciales
ECON 122 Introduction to Economics 37
Prep. 2008. Pablo Andrade, M.A.E.
f. Muebles de antigüedad (Antique).
g. Autos
Menor liquidez
Mayor liquidez
2. Basado en la siguiente base de datos (in billones de dólares), calcule el valor
de M1, M2, M3.
Dinero efectivo en manos del público 50
Cuenta de cheques 250
Cuenta de ahorros 1,200
Pequeños depósitos a corto plazo (menos de $100K) 950
Cheques de viajero 10
Certificados de depósitos 120
Depósitos a largo plazo (sobre $100K) 20
Cuentas de mercado de dinero (Money markets) 100
Balance de tarjetas de crédito 250
3. Si usted es un miembro (con voto) de la Reserva Federal y la economía está
experimentando una tendencia inflacionaria.
Que cambios en política monetaria usted recomendaría en:
a. el encaje bancario?
b. en la tasa de descuento?
c. en las operaciones de mercado abierto?
4. Asumiendo la siguiente información es proporcionada por el banco central de
un país con respecto a la situación monetaria:
Oferta de dinero = $200 billones
Demanda de dinero para transacciones = $150 billones
Demanda de dinero como activo = $10 billones al 12% de interés,
ECON 122 Introduction to Economics 38
Prep. 2008. Pablo Andrade, M.A.E.
Incrementándose $10 billones por cada 2-porciento de caída en la tasa de
interés en el mercado.
a. ¿Cuál sería la tasa de interés de equilibrio? Explique.
b. ¿Cuál sería la oferta y la demanda de dinero en equilibrio?
5. Basado en la siguiente información, calcule M1, M2, and M3
Depósitos a largo plazo (sobre $100K) $304 billones
Dinero efectivo en manos del público $438 billones
Cuenta de cheques $509 billones
Pequeños depósitos a corto plazo (menos de $100K) $198 billones
Cheques de viajeros $ 18 billones
Cuentas de ahorros $326 billones
Cuentas de fondos mutuos $637 billones
6. Suponiendo que la oferta monetaria es de $1 billón. Los miembros de la
Reserva Federal Americana deciden reducir la oferta monetaria en $100 billones
(considere un encaje bancario de 5%), cuales son las políticas monetarias que la
Reserva Federal podría tomar para llevar a cabo su plan? Cual seria las políticas
monetarias que la Reserva federal podría tomar para incrementar la oferta
monetaria en $100 billones?
7. Mesa redonda: Los estudiantes expondrán el artículo investigado sobre
política monetaria y tasas de interés y se tendrá un discusión abierta en el salón
de clase.
8. Examen # 4, opciones múltiples.
Avalúo
Actividades en clase. El estudiante tendrá la oportunidad de aplicar la teoría aprendida en el salón de clase
con experimentos de casos reales. Estas actividades serán interactivas y colaborativas.
El estudiante completaran las actividades en el salón de clase y mantendrá un
portafolio que será entregado en el taller cinco. Los estudiantes recibirán un punto por
cada actividad cumplida. Los estudiantes que no entreguen las actividades recibirán
una nota de incumplimiento equivalente a cero. Los estudiantes que no asistieron
ECON 122 Introduction to Economics 39
Prep. 2008. Pablo Andrade, M.A.E.
podrán entregar las actividades en otro día. Una penalidad de 10% de la nota diaria
será impuesta en cada actividad atrasada. No se recibirán actividades atrasadas
después del tercer día de la fecha de entrega pactada.
Participación en clase.
El estudiante participara activamente de discusiones cortas de artículos relacionados
con el tema de clase y ejemplos prácticos de negocios. Esta participación será una
interacción entre el facilitador y los estudiantes permitiendo de esta manera romper con
el sistema tradicional de enseñanza. La participación de clase será evaluada de
acuerdo a la rúbrica en el anejo C.
Tareas.
Las tareas serán evaluadas bajo la siguiente modalidad: definiciones (2.5 puntos);
ejemplos (2.5 puntos), análisis/conclusiones (2.5 puntos), bibliografía/referencias (2
puntos) (ver anejo E). Los estudiantes que no asistieron podrán entregar las tareas en
otro día pero esta tendrá una penalidad de 10% por día en cada actividad atrasada. No
se recibirán actividades atrasadas después del tercer día de la fecha de entrega
pactada (ver anejo E).
Examen # 4
El estudiante estará dispuesto a tomar el examen # 2 al final de la clase. El tipo de
examen es de opción múltiple. Cada respuesta correcta tiene un valor de 1 para un
total de 10 puntos. El examen evaluara el conocimiento adquirido de los estudiantes
sobre el tema tratado en el taller # 2. El estudiante tendrá 20 minutos para resolver el
examen.
ECON 122 Introduction to Economics 40
Prep. 2008. Pablo Andrade, M.A.E.
Workshop Five/Taller Cinco
NOTA: Este taller es bilingüe. Tanto,
el Facilitador como los estudiantes,
deberán utilizar el idioma asignado
para cada tarea y actividad.
NOTE: This is a bilingual workshop.
Both the facilitator and student
should use the language assigned
for each homework and activity.
Specific Objectives
1. Have an understanding of international trade and its benefit.
2. Define the balance of payments and the relationship of each account.
3. Recognize the different types of exchange rate systems in the world.
4. Have an understanding of the determinants of the exchange rate.
5. Explain the relationship between balance of payments and exchange rate.
Language Objectives
1. Reading: The student will read and explain economic definitions assigned during the
first week. The student will read an article in class related to fiscal policy and will explain
the content to the class.
2. Writing: The student will define economic terms using full sentences. The student will
use correct grammar (verb tenses, subject-verb agreement, etc) when writing a
sentence Related to Student’s writing activities.
3. Speaking: The student will use appropriate pronunciation in both languages. The
student will use appropriate intonation when speaking in class.
Electronic Links (URLs):
The Bureau of Economic Analysis
http://www.bea.doc.gov
U.S. Bureau of Labor Statistics
http://www.bls.gov/home.htm
Export-Import Bank of the United States
http://www.exim.gov/
U.S. Census Bureau
http://www.census.gov/foreign-trade/www/
ECON 122 Introduction to Economics 41
Prep. 2008. Pablo Andrade, M.A.E.
TradeStats Express
http://tse.export.gov
USDA Foreign Agriculture Service
http://www.fas.usda.gov/data.asp
U.S. Department of Commerce
http://trade.gov
Encyclopedia of the Nations
http://www.nationsencyclopedia.com
Bloomberg.com
http://www.bloomberg.com
The Economist
http://www.economist.com
Assignments before Workshop Five:
1. Read the recommended URL’s, textbooks and other reference materials. Pay close
attention to the rubrics in the Appendix section. These rubrics will be used to assess
your knowledge.
2. The student will search information about balance of payments and exchange
rates. The students will elaborate a written assignment with definitions of balance of
payments and types of exchange rate systems; obtain examples for each definition;
provide analysis/conclusions; and references. Students can make up an assignment;
a 10% penalty per day in each late assignment will be imposed. No assignment will
be received after 3 days from the due day (in English).
3. The students will read an article related with U.S. exports/imports from the URL’s,
textbooks or any other reference materials and will discuss in class (in Spanish).
Activities:
1. Atlantis’s balance-of-payments data for 2007 are shown below.
All figures are in billions of dollars.
Goods exports $40 Net transfers $10 Good imports $30 Foreign purchases of assets
in Atlantis $10
Services exports $15 Atlantis purchases of assets $40
ECON 122 Introduction to Economics 42
Prep. 2008. Pablo Andrade, M.A.E.
abroad. Service imports $10 Official reserves $10 Net investment income
$5
Obtain: a. the balance of trade. b. the balance of goods and services
c. the balance of current account d. the balance of capital account e. does Atlantis have a balance-of-payments deficit or
surplus?
2. Billons of Dollars Export of goods 350.00 Imports of goods -450.00 Service exports 170.00 Service imports -145.00 Net transfers -21.5 Outflow of U.S. capital -45.0 Inflow of foreign capital 70.0 Explain where in the U.S balance of payments an entry would be made for each of the following:
a. A Hong Kong financier buys some U.S corporate stock.
b. A U.S tourist in Paris buys some perfume to take home.
c. A Japanese company sells machinery to a pineapple company in Hawaii.
d. U.S. farmers make a gift of food to starving children in Ethiopia.
e. The U.S. Treasury sells a bond to a Saudi Arabian prince.
f. A U.S. company sells insurance to a foreign firm.
3. In 2006-2007, Atlantis was running a large current account surplus.
ECON 122 Introduction to Economics 43
Prep. 2008. Pablo Andrade, M.A.E.
a. What did this suggest about its capital account?
b. Atlantis balance of payments was in surplus. What does this suggest about its
exchange rate regime?
c. What actions was the Atlantis central bank likely undertaking in the foreign
exchange markets?
4. Will the following be suppliers or demanders of U.S dollars in foreign exchange
markets?
a. A U.S. tourist in Latin America.
b. A Peruvian tourist in the United States.
c. A Ecuadorian investor in the United States.
d. A Colombian foreign exchange trader who believes that the dollar exchange
rate will fall.
5. The students will participate of a fictional exchange rate market in the classroom. The
class will be divide in 2 groups; sellers and buyers; they will interact each other selling
and buying foreign exchange currency (Spanish).
6. Explain why you agree or disagree with the following statements (English):
a. A country that grows faster than its major trading partners can expect the
international value of its currency to depreciate.
b. A country whose interest rate is raising more rapidly than interest rates in other
countries can expect the international value of its currency to appreciate.
c. A country’s currency will appreciate if its inflation rate is less than that of the
rest of the world.
7. Students will hand in the Portfolio.
8. The students will present their projects. The students will have 20-25 minutes for their
oral presentation (English or Spanish).
Assessment:
Class activities
The student will have the opportunity to apply the theory learned in class to real cases
experiments. These activities will be interactive and collaborative. The student will
complete each activity and will keep a portfolio for review at the end of the five weeks.
Students will receive one point for each complete activity. The student who doesn’t
ECON 122 Introduction to Economics 44
Prep. 2008. Pablo Andrade, M.A.E.
complete the activity will receive an incomplete grade equal to zero. The student can
make up an activity; a 10% penalty in each late activity per day will be imposed. No
activities will be received after 3 days from the due day. (see rubric in annex C).
Class participation
Classroom participation consists of continue interaction between the facilitator and
students in the classroom. Students are welcome to bring personal/labor experiences
related with the topic. Students will participate in short discussion articles and/or
business examples. For the most part these participation will be collaborative and
interactive; hence an excellent way to break from the traditional lecture format. Class
participation will be assessed based upon the rubric in annex D.
Assignments
Each assignment will be evaluated based upon de following criteria: definitions (2.5
points); examples (2.5 points); analysis/conclusion (2.5 points); references (2.5 points)
(see rubric in annex E). The student who doesn’t complete the assignments will receive
an incomplete grade equal to zero. The student can make up an assignment; a 10%
penalty in each late assignment per day will be imposed. No assignments will be
received after 3 days from the due day.
ECON 122 Introduction to Economics 45
Prep. 2008. Pablo Andrade, M.A.E.
Anejos/Appendixes
ECON 122 Introduction to Economics 46
Prep. 2008. Pablo Andrade, M.A.E.
Anejo A/Appendix A
MATRIZ VALORATIVA PARA PRESENTACIONES ORALES
CURSO:______________________ PT_________SECCIÓN_______________ NOMBRE:________________________________________________________ FECHA:__________________________________________________________
No
Cumplió Deficiente Regular Bueno
Muy Bueno
Exelente
Contenido
Puntos Puntaje total 0 2 4 6 8 10
Identifica el propósito, los objetivos e ideas principales que se incluyen en la presentación.
10
La presentación es interesante y amena. 10
El presentador demuestra dominio del tema o materia de la presentación al explicar con propiedad el contenido y no incurrir en errores.
10
Las ideas y argumentos de la presentación están bien fundamentados en los recursos presentados, consultados o discutidos en clase.
10
Uso efectivo de la tecnología, ayudas visuales, drama o ejercicios de acuerdo al ejercicio y el tema presentado.
10
La presentación demuestra creatividad. 10
Capta la atención e interés de la audiencia y/o promueve su participación.
10
Lenguaje
Se utiliza un lenguaje apropiado y tono adecuado 10
Correcto uso gramatical y conjunción de verbos. 10
Uso adecuado de la terminación económica. 10
Puntaje Total 100
ECON 122 Introduction to Economics 47
Prep. 2008. Pablo Andrade, M.A.E.
ORAL PRESENTATION RUBRIC
COURSE:______________________ PT_________SECTION_______________ NAME:________________________________________________________ DATE:__________________________________________________________
Fail Deficient Regular Good
Very Good
Excellent
Content Points Total Score 0 2 4 6 8 10
Identify the main purpose, objective, and ideas in the presentation
10
The presentation is interesting and pleasant. 10
The expositor shows control and understanding of the topic.
10
The ideas and arguments during the oral presentation are based upon the theory and examples used in class
10
Correct use of presentation tools such as Microsoft applications, visual aids, dramatization, videos, boards, etc
10
The presentation shows creativity 10
Adequate timing and audience participation
10
Language
There is a correct use of the English language and correct use of the wording
10
Correct tone and pronunciation 10
Adequate use of economic terminology and vocabulary. 10
Total Points 100
ECON 122 Introduction to Economics 48
Prep. 2008. Pablo Andrade, M.A.E.
Anejo B/Appendix B
EVALUACIÓN ESCRITA DE LA INVESTIGACIÓN
Nombre_______________________________________________ Fecha___________________ Título______________________________________
No
Cumplió Deficiente Regular Bueno
Muy Bueno
Exelente
Contenido Puntos Puntaje
total 0 2 4 6 8 10
Es apropiado cumple con los objetivos de la investigación.
10
Es organizado sigue un secuencia lógica. 10
Incorpora la teoría aprendida en clase a la investigación.
10
Existe un análisis de la investigación. 10
Contiene conclusiones y recomendaciones. 10
Presenta una bibliografía y referencias. 10
Esta elaborado bajo el estilo APA. 10
LENGUAJE
Utiliza la gramática apropiadamente y correctamente.
10
Existe un correcto uso de verbos y sintaxis. 10
Utiliza adecuadamente la terminología económica (vocabulario; flujo de ideas, definiciones).
10
Puntaje Total 100
ECON 122 Introduction to Economics 49
Prep. 2008. Pablo Andrade, M.A.E.
WRITTEN RESEARCH RUBRIC
Name______________________________________________ Date___________________ Theme______________________________________
Fail Deficient Regular Good Very Good Excellent
Content Points Total
Score 0 2 4 6 8 10
Is appropriate-fulfill the research objectives.
10
Organization- Follow a logic sequence. 10
Theory- Apply the theory learned in
class. 10
Critic thinking- Use of analysis and
conclusion based upon the findings throughout the
research.
10
There are conclusions and
recommendations.
There are bibliography and
references. 10
Correct use of APA style. 10
Language
Uses grammar appropriately and
correctly. 10
Manages and uses verbs appropriately
and correctly. 10
Adequate use of economic terminology (vocabulary, flow of ideas, definitions).
10
Total Points 100
ECON 122 Introduction to Economics 50
Prep. 2008. Pablo Andrade, M.A.E.
Anejo C/Appendix C
MATRIZ VALORATIVA PARA PARTICIPACION EN CLASE
Nombre______________________________________________ Fecha___________________ Sesion #_________________
No Cumplió
Deficiente Regular Bueno Muy Bueno
Excelente
Criterio Puntos Puntaje
total 0 2 4 6 8 10
Contribuye frecuentemente a las discusiones en clase
10
Contesta preguntas del facilitador y sus compañeros.
10
Formula preguntas pertinentes al tema de la clase.
10
Demuestra atención y apertura a los temas y argumentos tratados en clase.
10
Demuestra iniciativa y creatividad en las actividades de clase.
10
Contribuye con información relevante al tema tratado en clase.
10
Puntaje Total 60
ECON 122 Introduction to Economics 51
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CLASS PARTICIPATION ASSESSMENT RUBRIC
Name______________________________________________
Date___________________ Session #_________________
Fail Deficient Regular Good Very Good Excellent
Criteria Points Total
points 0 2 4 6 8 10
Contributes frequently to class discussions. 10
Answers questions made by the facilitator and classmates.
10
Asks questions pertinent to the class topic. 10
Demonstrates attention and opening to the arguments discussed in class.
10
Demonstrates initiative and creativity during class activities.
10
Contributes with information relevant to the topic.
10
Total points 60
ECON 122 Introduction to Economics 52
Prep. 2008. Pablo Andrade, M.A.E.
Anejo D/Appendix D
Guidelines to Prepare the Portfolio
1. Determination of sources of content
The following, but not limited to, documentation will be included:
a. Projects, surveys, and reports.
b. Oral presentations
c. Essays: dated writing samples to show progress
d. Research papers: dated unedited and edited first drafts to show progress
e. Written pieces that illustrate critical thinking about readings: response or
reaction papers.
f. Class notes, interesting thoughts to remember, etc.
g. Learning journals, reflexive diaries.
h. Self assessments, peer assessments, facilitator assessments.
i. Notes from student-facilitator conferences.
2. Organization of documentation
Documentation will be organized by workshop, and by type of assignment within
workshops. Workshops will be separated from one another using construction paper
or paper of different colors, with tabs indicating the workshop number.
3. Presentation of the portfolio
• Documentation will be posted in a binder or in a digital version (e-portfolio).
• The cover page will follow exactly APA guidelines applied to a cover page of
research papers submitted at Metro Orlando Campus. This cover page will be
placed at the beginning of the portfolio.
• The entire portfolio will follow APA style: Courier or Times New Roman font,
size 12, double space, and 1-inch margins. See a “Publication Manual of the
APA, Fifth Edition”
• A log of entries that can be expanded with each new entry properly
numbered. The table, which should be located at the beginning, should
include a brief description, date produced, date submitted, and date evaluated
(Appendix ___).
• Introduction and conclusion of the income and outcome of the portfolio.
ECON 122 Introduction to Economics 53
Prep. 2008. Pablo Andrade, M.A.E.
• A list of references and appendixes of all assignments included will be added
to the end of the portfolio.
• The Portfolio Informational Sheet will be placed in the transparent front pocket
of the binder for identification purposes (Appendix ___).
4. Student-Facilitator Feedback Template: Progression follow-up
The final step in implementing portfolios, before returning them to the student or
school life, is sharing feedback with each student to review the contents, student
reflections, and your evaluations of individual items and all of the work together as
related to learning targets (Banks, 2005).
Facilitators will e-mail a feedback template to all students. This template will contain
information pertaining to weaknesses and strengths found in students’ portfolios
(Appendix ___). Facilitators will focus their attention on showing students what is
possible and their progress rather than what is wrong; however, this does not mean
that facilitators will not cover weaknesses and areas for improvement during the
conference. Facilitators will send this feedback template upon completion of
workshop one.
Students will also have the opportunity to respond to the facilitator’s feedback and
write their own comments and/or ideas of how to improve the quality of their
portfolios, and how to become better metacognitive learners on the feedback
template. Students will e-mail the template with their comments back to the facilitator
after every workshop.
5. Portfolio storage:
• Portfolio samples will be safely stored for a six-month term on campus.
• Students will sign an official document empowering Ana G. Mendez
University System with rights to use their portfolios with educational or
accreditation purposes during this term (Appendix ____).
• After this term, and if their authors authorize Ana G. Mendez University
System to discard their portfolios by signing an official document, portfolio
samples will be destroyed; otherwise, they will be returned to their original
authors (Appendix ____).
ECON 122 Introduction to Economics 54
Prep. 2008. Pablo Andrade, M.A.E.
Anejo E/Appendix E
MATRIZ VALORATIVA PARA TAREA SEMANAL
Nombre______________________________________________ Fecha___________________ Tarea #_________________
Criterio Puntos Semana 1 Semana 2 Semana 3 Semana 4 Semana 5
Definiciones son
claras y relevantes al
tema del taller.
2.5
El estudiante utiliza
ejemplos para ilustrar
las definiciones.
2.5
El estudiante
incorpora análisis y
conclusiones para
explicar lo
investigado.
2.5
El estudiante cita
referencias y
bibliografía de la
fuente utilizada en la
investigación..
2.5
Puntaje total 10
ECON 122 Introduction to Economics 55
Prep. 2008. Pablo Andrade, M.A.E.
WEEKLY ASSIGNMENT RUBRIC
Name______________________________________________ Date___________________ Assignment #_________________
Criteria Points Week 1 Week 2 Week 3 Week 4 Week 5
Definitions are
clearly stated and
related with the
workshop topic.
2.5
Student uses
examples to illustrate
the definitions.
2.5
Student incorporates
analysis and
conclusions to
explain the
understanding of the
topic.
2.5
Bibliography/
References listed. 2.5
Total Points 10
ECON 122 Introduction to Economics 56
Prep. 2008. Pablo Andrade, M.A.E.
Anejo F/Appendix F
PORTFOLIO INFORMATIONAL SHEET
Sistema Universitario Ana G. Méndez Metro Orlando Campus
Universidad del Este, Universidad Metropolitana, Universidad del Turabo
Check one: � Universidad del Este � Universidad Metropolitana � Universidad del Turabo Check one: � Undergraduate
� Graduate
Concentration
Student’s Name
Facilitator’s Name
Course:
Portfolio rated as
Reason of this rate
ECON 122 Introduction to Economics 57
Prep. 2008. Pablo Andrade, M.A.E.
Anejo G/Appendix G
Log of Entries
Entry Description
Date of Entry
Date
Submitted
Date
Evaluated
Page #
1
2
3
4
5
6
7
8
9
10
ECON 122 Introduction to Economics 58
Prep. 2008. Pablo Andrade, M.A.E.
Anejo H/Appendix H
Checklist for Portfolio Assessment
Has the student set academic goals?
Does the portfolio include enough entries in each area to make
valid judgments?
Does the portfolio include evidence of complex learning in realistic
setting?
Does the portfolio provide evidence of various types of student
learning?
Does the portfolio include students’ self-evaluations and
reflections on what was learned?
Does the portfolio enable one to determine learning progress and
current level of learning?
Does the portfolio provide clear evidence of learning to users of
the portfolio?
Does the portfolio provide for student participation and
responsibility?
Does the portfolio present entries in a well-organized and useful
manner?
Does the portfolio include assessments based on clearly stated
criteria of successful performance?
Does the portfolio provide for greater interaction between
instruction and assessment?
Adapted from: Gronlund, N. E. (2003). Assessment of student achievement. 7th ed. Boston: Pearson
Education, Inc.
ECON 122 Introduction to Economics 59
Prep. 2008. Pablo Andrade, M.A.E.
Anejo I/Appendix I
Portfolio Rubric
4 3 2 1
PORTFOLIO APPEARANCE
� Readable: Are entries typed in an appropriate font and size? Are
entries free of errors? Do ideas expressed in entries follow a logical sequence with appropriate transitions among paragraphs and topics?
� Professionalism: Is the appearance of the portfolio
professional? Are graphics, colors and portfolio language consistent with professional workplace expectations? Is the portfolio presented in a neat and orderly manner?
� Organization: Is the portfolio organized in a manner that makes
it easy to follow and easy to quickly locate information?
PORTFOLIO CONTENT AND FUNCTION
� Content: Are all required entries included in the portfolio? Are
entries relevant to the content of the portfolio? Do all entries contain the student’s reaction or reflection on the selected topics? Do entries provide thorough understanding of content? Resume, Activities List, Varied Samples of Written Work, Evidence of Problem Solving, and Evidence of Decision Making.
� Authenticity: Are the samples and illustrations a true reflection
of the student’s efforts and abilities?
� Growth/Development: Do samples provide thorough
understanding of growth and development related to their field of concentration? Do items show what the student has learned?
� Collaboration: Do items show examples of both individual and
group work? Does the student provide clear understanding of collaboration, and use collaboration to support his/her learning?
ECON 122 Introduction to Economics 60
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� Reflection and Personal growth: Do items show exceptional
understanding of how to be a reflective thinker and how to seek opportunities for professional growth? Does the student include self-reflective comments? Does the student reflect enthusiasm for learning?
� Professional Conduct: Do items show clear understanding of
ethical behavior and professional conduct? Do items display the pride the student has in his or her work?
Overall Portfolio Impact
� Is this portfolio an asset in demonstrating the student’s value
(skills, abilities, knowledge) to a potential employer or college representative?
Rating Scale 4 = Outstanding 3 = Very good 2 = Good 1 = Needs improvement Source: Retrieved from www.lcusd.net/lchs/portfolio/rubric.htm on February 10th, 2007. Adapted
02/10/2007 by Fidel R. Távara, M.Ed. Coordinator of Assessment and Placement – Metro
Orlando Campus
ECON 122 Introduction to Economics 61
Prep. 2008. Pablo Andrade, M.A.E.
Anejo J/Appendix J
Portfolio Assessment Feedback Template
Strengths Weaknesses Improvement Ideas
Facilitator’s comments
Student’s response and comments
ECON 122 Introduction to Economics 62
Prep. 2008. Pablo Andrade, M.A.E
Anejo K/Appendix K
Use and Return of Portfolio
Sistema Universitario Ana G. Méndez Universidad del Este, Universidad Metropolitana, Universidad del Turabo
I, ____________________________________, grant permission to the office of
Assessment and Placement of the Ana G. Méndez University System, to keep in
their records a copy of my portfolio. I understand that the portfolio is going to be
used for accreditation or educational purposes only, and that is not going to be
disclosed without my consent.
By signing this document I authorize the office of Assessment and Placement to
keep a copy of my portfolio for six months and return it to me at the end of this
period of time.
_______________________________ ___________
Student’s Name (print) Date
_______________________________ ___________
Student’s Signature Date
ECON 122 Introduction to Economics 63
Prep. 2008. Pablo Andrade, M.A.E
Anejo L/Appendix L
Use and Discard of Portfolio
Sistema Universitario Ana G. Méndez Universidad del Este, Universidad Metropolitana, Universidad del Turabo
I, ____________________________________, grant permission to the office of
Assessment and Placement of the Ana G. Méndez University System to keep in
their records a copy of my portfolio. I understand that the portfolio is going to be
used for accreditation or educational purposes only, and that is not going to be
disclosed without my consent.
By signing this document I authorize the Office of Placement and Assessment to
keep a copy of my portfolio for six months and discard it at the end of this period
of time.
.
_______________________________ ___________
Student’s Name (print) Date
_______________________________ ___________
Student’s Signature Date
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