Spring/Fall 2011: Economics in English - Exploring Economics Concepts

Gakushuin University

Instructor: Phil Stilwell

philstilwell@yahoo.com

Goals

By the end of this course, students should be able to...

• understand and utilize vocabulary related to major concepts in macro-economics

• understand the concepts and dynamics of macro-economics
• read and understand macro-economics books and articles with ease
• effectively explain macro-economics concepts to others

Requirments

In order to take part in the class, you must have English skills which are high enough to participate
actively in the discussions.
• You need to have an e-mail address.
• Photo – If I don’t already have a digital picture of you, the instructor will take one of you with a
digital camera. This picture will be used only to remember who you are so the instructor can
evaluate your participation.

Textbook

"50 Economics Ideas You Really Need to Know"

Author: Edmund Conway
Amazon: http://www.amazon.co.jp/Economics-Ideas-Really-Need-Know/dp/1848660103/

We will cover as many topics as time permits. The goal is to cover one chapter per class session.

Two Terms

Students many take the course in both the spring term and the fall term. While the basics will be
repeated, much of the remaining content will be different each term.

Spring Term Schedule Fall Term Schedule

-THE BASICS -THE BASICS
The Invisible Hand The Invisible Hand
Supply and Demand Supply and Demand
The Malthusian Trap The Malthusian Trap
Opportunity Cost Opportunity Cost
Incentives Incentives
Division of Labor Division of Labor
Comaprative Advantage Comaprative Advantage
-THE MOVEMENTS -FINANCE AND MARKETS
Capitalism Bond Markets
Keynesianism Banks
Monetarism Stocks and Shares
Communism Risky Business
Individualism Boom and Bust
Supply-Side Economics. Pensions and the Welfare State
The Marginal Revolution Money Markets
Blowing Bubbles
-HOW ECONOMIES WORK Credit Crunches
Money
Micro and Micro -THE ISSUES
Gross Domestic Product Creative Distruction
Central Banks and Intrest Rates Home-Owning and House Prices
Inflation Government Deficits
Debt and Deflation Inequality
Taxes Globalization
Unemployment Multilateralism
Currencies and Exchange Rates Protectionism
Balance of Payments Technological Revolutions
Trust and the Law
Energy and Oil -ALTERNATIVE ECONOMICS
Development Countries
Environmental Economics
Behavioral Economics
Game Theory
Criminomics
Happynomics

21st-Century Economics
Preparation for Class

• Read the scheduled chapter.

• Prepare 3 discussion questions concerning the chapter's concept.
• Prepare one real-life example of the chapter's concept at work. This example will be
analyzed by your group.

Method

1) Before class
a. Reading assigned selections
b. Unknown Vocabulary Look-up
c. Review of the concepts from the previous class
2) Group discussion and Q&A with instructor to confirm content
3) Student-guided discussions in small groups based on the readings
4) Short presentations in English summarizing the concepts
5) Occasional quizzes (vocabulary and concepts)
6) Instructor feedback regarding:　
a. English and communication
b. Presentation and discussion techniques
c. Understanding of the concepts

Evaluation

Participation (60%)
Be prepared for class – this is essential since the class depends almost entirely
on student-centered activity!
Using English – Your chances outside class to use English are limited. Use this
opportunity wisely.
Active – Stay alert. Pay careful attention to what others are saying and look for
chances to speak. Don’t be
shy about asking questions. Volunteer to give answers.
Supportive of your classmates’ learning – You should try your best to be
cheerful, helpful, and cooperative.
This supports not only your own learning but also encourages your classmates.
Remember that they are
investing a lot of time and money to be in this class!

Attendance (20%)
Excused absences – Please document these for me. Valid excuses are medical,
dental, or family emergencies.
Unexcused absences – each unexcused absence reduces your attendance
grade by 10% (= 2% of your total
grade). More than five unexcused absences per semester will automatically
result in your failing the class.

Vocabulary quizzes and homework (20%)

*Detailed information will be provided on the first day of class

Class Size
A maximum of 15 students will be accepted