Syllabus
ECON 335:  Public Finance
Fall 2004
Section 001, TR 9:45 am - 11:15 am, McElhaney Hall 205

Instructor:  Dr. Stephanie M. (Brewer) Jozefowicz
Email:  smjozef@iup.edu  (Note:  I tend to check email fairly infrequently.)
Economics Dept. Phone: 724-357-2640
My Office Location:  McElhaney Hall 202B
My Office Phone:  724-357-2642
Office Hours:  MW 1:15-3:15 pm, Thursdays 8:30-9:30 am, or by appointment
Course Website: http://www.chss.iup.edu/smjozef/brewerteach.html
Course Prerequisites: ECON 121, ECON 122 or instructor permission
Course Description:  Consumer behavior, theory of the firm theory of exchange, market structures, distribution, general equilibrium theory, welfare economics

 Textbook and Supplemental Readings

Harvey S. Rosen, Public Finance, 7th edition.

The textbook is designed to facilitate learning both inside and outside the classroom.  Reading assignments from the text are included on the course outline and will be mentioned about once a week.  You will know what you should be reading if you check the course outline.  Lecture material will make more sense if you read the text first; the text will make more sense if you attend lecture first.  Although exam questions are based on the lecture material, the text parallels the lectures.  Hence, the readings in the text should be thought of as a supplement to the lecture material.  You will likely want to bring the textbook with you to class.

Supplemental Readings Course Packet, ECON 355–Public Finance, Jozefowicz:  This course packet is available at Copies Now.  Included are sets of longer readings, shorter news articles, and exams from my section of this course taught during the Fall 2000 semester.  We will almost daily be using readings from this packet, so you need to bring it with you to class. 

I sometimes will hand out additional supplemental reading materials.  These readings will be news articles or other materials related to the current course topic.  You are responsible for obtaining these materials from me if you miss class.s.

ECON 335 Website

I have set up a website for this class.  The specific html address location is given above.  (This page is linked off of the Department of Economics website, as well, if you cannot remember the address.)  A variety of information will be accessible via this website.  I intend to update an “Announcements” page after every class.  Announce-ments will include the topic of the lecture material covered in class on a given day and any homework/quiz/extra-credit assignments collected or announced that day.  Answers to homework and exams will be posted as we progress throughout the semester.

Assignments and Grading Policy

Public Finance Journal: You will keep a current event journal of news articles related to public finance issues.  The U.S. does not have to be a part of the focus of the article.  You are responsible for finding two articles per week for the first 14 weeks of the semester (this includes Thanksgiving Break).  You may clip the articles from a newspaper, or print the articles from the web (English only, please).  This assignment will be due Tuesday, December 7.  The journal assignment will account for 5% of your final course grade.  See the separate handout assignment for more details.

Political Economy Project: There will be a project associated with this year’s November elections.  You will track a non-Presidential race, gathering news articles (distinct from your Public Finance Journal) and campaign materials, and interviewing one candidate, campaign staffer, or campaign volunteer.  You will write a summary paper based on your collected materials and political economy theory.  See the separate handout assignment for more details.  This assignment will be due Tuesday, November 16. This assignment will count for 5% of your final course grade.

Homework and In-Class Assignments:  Periodically homework and in-class assignments will be made.  These assignments may be problems from the text or other materials that I prepare.  In-class assignments will be due in class on the day they are assigned.  Generally, you will be asked to work in a small group as you complete in-class readings and assignments.  Learning to work better in groups and learning economic theory are both instructional goals from these in-class assignments.  They are also important instructional tools in breaking up class time rather than having 1½ hours of solid lecture every class.  Points will be deducted from any assignments turned in after they are due unless prior arrangements with the instructor have been made.  An assignment will not be accepted for a late grade once that assignment has been graded and returned to the class.  To be redundant, this policy means that if you miss a class, it is YOUR responsibility to check with a classmate to determine what, if any, assignments were made.  Not being able to reach me personally concerning assignments because you missed class is NOT a legitimate excuse for late homework.  If you know you will be missing the class in which a homework assignment is due, you can send the assignment with a classmate, turn in the assignment to me in advance, have it placed in my box (during normal business hours), or email the assignment to me attached as a Word or WordPerfect document.  Homework must be in my box or received as email by the end of the class period.  Homework and in-class assignments will count as 15% of your final course grade.

Attendance and Class Participation:  I believe class attendance and participation are closely linked with how well students learn and perform on exams.  All students will be expected to participate fully in the discussion of materials.  In other words, I expect you to be present in mind as well as body when you come to class.  Students routinely will be called upon to provide definitions of terms, examples for theories under consideration, and theories for examples under discussion.  This is non-punitive behavior–it merely enhances the learning environment.  Cardinal rule:  never, never, never cut class because you are unprepared:  such behavior will only compound how far behind you are.

Major exams:  There will be two major exams given in class during the semester.  Each exam will be worth 100 points, and each will count as 25% of your final semester grade.   The tentative exam dates are Major Exam #1:  Thursday, October 7 and Major Exam #2:  Tuesday, November 9.  There will be NO make-up exams in this class regardless of circumstances.  You may choose not to take one (and only one) of the two in-class exams simply by informing me prior to the end of the exam period.  (Thus, you may decide during the course of taking an exam that you do not wish to hand in the exam.  If this is your choice, then DO NOT turn in the exam.  If you walk out the door with the exam in your possession, I will assume your final decision (in the words of Regis Philbin!) is to not have the exam to count as part of your grade.)  Any exam turned in to me at the end of an exam period WILL BE graded and WILL partially determine your course grade.  If you elect not to take one of the two in-class exams, the comprehensive final exam will take on the additional weight of the missed exam.  Exam questions will stress analysis including short essay questions, numerical problem solving, and defining economic terms or concepts.  Using graphs to illustrate your reasoning is a critical part of answering most short essay questions.  Any written answer that cannot be deciphered due to handwriting illegibility will be counted as a wrong answer.  Exams will be based on the material covered in class.  You may use a basic, non-programmable calculator on exams.  Cell phones should be turned off and put away before any exam begins.  Once the exam is handed out, you will not leave the room until you are ready to hand in the exam.

Final exam:  There will be a final exam given on Thursday, December 16 from 10:15 am - 12:15 pm in McElhaney Hall 205.  The final exam will have the same format as the major exams.  The final exam will be comprehensive, covering all of the course material for the whole semester.  The final exam will count as 25% of your final semester grade.  (This means that if you miss either the first or second major exam, then the final exam will count as 50% (25% + 25%) of your final semester grade.) You may use a basic, non-programmable calculator on exams.  Cell phones should be turned off and put away before any exam begins.  Once the exam is handed out, you will not leave the room until you are ready to hand in the exam.   Unless alternative arrangements are made before the final exam, a score of zero will be entered in my grade sheet for the final exam if you do not show up in the correct room and at the correct time for the final exam.
Extra-credit:  Under no circumstances will I give extra-credit work to individual students.  However, during the semester, class exercises for which extra-credit points can be earned may be offered.  Offering extra-credit is subject to my discretion.

  Summary of grading::
            Public Finance Journal:                      5%
            Political Economy Project:                 5%
            Homework/In-Class Assignments:  15%
            Major Exam #1:                             25%
            Major Exam #2:                             25%
            Final exam:                                     25%
                                                                100%

Grading scale:  The standards are based on the below percentage distribution.  Changes to the distribution may be made at the instructor’s discretion, but any changes will be strictly in your favor in terms of expanding the ranges to include lower grade percentages.  A:  90 - 100%, B:  80 - 89%, C:  70 - 79%, D:  60 - 69%, F:  <  60%.

Miscellaneous

Many students may find it beneficial to discuss the course material with one another.  You are encouraged to share helpful suggestions for studying and mastering the material.  There is an underlying principle of learning when working together in small groups like this–you can determine what you know as you are forced to explain the concepts and problem solutions to one another.

You may wish to bring colored pens/pencils with you to class.  For some graphical analyses, I will use colored chalk in my presentation.  Some students have expressed that having colors of their own greatly enhances their ability to understand their notes.

If you do not regularly check your IUP email, you should set a mail forward on your IUP account to whatever email address you do regularly check.  I may the class information, but I will only use your assigned IUP email addresses.

I follow the policy outlined in the IUP Academic Integrity Policy and Procedures with regard to cheating and academic dishonesty.  I will give an incomplete only for the specific reasons outlined in the IUP Incomplete policy, so please don't ask for exceptions to these rules.  Both policies can be found in the Undergraduate Catalog 2004-2005.

I will be available for questions or comments about class during my office hours.  I will arrange to see you by appointment if you are not able to come see me during the designated office hours.  Please talk with me after class to arrange any appointments.

Summary of Important Dates for Fall 2004

Course Outline

Ch. 1: Introduction
Appendix: Some Basic Microeconomics
Ch. 2:  Tools of Positive Analysis
Ch. 3:  Tools of Normative Analysis
Ch. 4:  Public Goods
Ch. 5:  Externalities
Ch. 6:  Political Economy
Ch. 7:  Income Redistribution: Conceptual Issues (pp. 136 - 148)
Ch. 12:  Taxation and Income Distribution (pp. 252 - 271)
Ch. 15:  The Personal Income Tax
Ch. 18:  Deficit Finance (pp. 455-460)
Ch. 19: Taxes on Consumption and Wealth
Ch. 20:  Public Finance in a Federal System 

As time allows:
Ch. 7:  Income Redistribution: Conceptual Issues (pp. 149 - 154)
Ch. 11:  Cost-Benefit Analysis
Ch. 17: The Corporation Tax
Ch. 18:  Deficit Finance

DR. S. JOZEFOWICZ’S TOP TEN LIST
FOR A SUCCESSFUL SEMESTER:

1. Attend class regularly.  Missing class means you lose out on easy attendance points, course lecture material that is vital to successful performance on quizzes and exams, in-class quizzes, in-class assignments, and valuable discussion with peers.

2. Be on time for your own benefit and out of consideration for others–the disruptions you cause by coming in late affect everyone (in economics, we call such impacts negative externalities).

3. If you know you will have to leave before class ends, then sit by the door to minimize disruptions and interruptions for your classmates that will occur if you don’t sit near the door and have to stomp over the top of them and/or parade across the front of the room as you exit (furthermore, I would appreciate if you would kindly mention your need to leave to me before class starts).

4. Having to get up and leave in the middle of class in the case of an emergency is one thing, but DO NOT make it a habit to wander into and out of lecture–this is rude and disruptive behavior causing a NEGATIVE impact on your fellow classmates and instructor.

5. KEEP UP--the materials build as the semester progresses--very few students can succeed by just studying the night before the exam.  You have many opportunities for working on sample quiz and exam questions between formal in-class and homework assignments, the course packet, materials on the web, graded multiple choice quiz questions, and practice written response questions on the back of quizzes.  Students who perform at the top of the class generally are the ones who work on these sample questions and ask questions as they go about what they don’t understand.

6. Take excellent class notes–write out explanations and examples of the concepts covered rather than just copying down the definitions or graphs–this will help you immensely as you work on assignments and as you study for quizzes and exams.

7. Look over your class notes and text readings before (yes, I said before!) coming to class–for each section of notes, go back and think how you can reorganize them so they make sense to you (students have found that making flow diagrams can help connect the material in a personally meaningful way).

8. Make use of office hours–clear up questions as they arise and are fresh on your mind... generally students find I am friendly and helpful in office hours, and the additional one-on-one attention does wonders for truly comprehending the material.

9. Realize at the outset that you may have really buckle down and approach studying for this class differently.  This class will require much more than basic memorization and regurgitation of definitions.  This class has the reputation of being “hard” for a reason.  Merely showing up every day for class is likely to be insufficient to secure an “A” or even a “B” letter grade.  Expect that generally speaking, we will have class every day and that we will stay the entire length of class.  Class time is a mixture of lecture/note taking, in-class practice problem solving, and peer discussion.

10. Just as you expect to be treated with respect, remember to treat your fellow students and me with the same high level of respect.

 
Back to ECON 335 Home Page.