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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

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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

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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

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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:

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ECON 122 Introduction to Economics 4

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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

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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

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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

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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:

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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.

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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.

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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.

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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.

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ECON 122 Introduction to Economics 12

Prep. 2008. Pablo Andrade, M.A.E.

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/

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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)

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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

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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

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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.

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ECON 122 Introduction to Economics 18

Prep. 2008. Pablo Andrade, M.A.E.

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.

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ECON 122 Introduction to Economics 19

Prep. 2008. Pablo Andrade, M.A.E.

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.

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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/

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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.

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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?

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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?

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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.

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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.

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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/

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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.

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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

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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

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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.

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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:

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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

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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

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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.

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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

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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

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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,

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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

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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.

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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/

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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

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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.

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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

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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.

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Anejos/Appendixes

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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

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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

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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

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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

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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

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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

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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.

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• 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 ____).

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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

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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

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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

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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

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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.

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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?

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ECON 122 Introduction to Economics 60

Prep. 2008. Pablo Andrade, M.A.E.

� 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

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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

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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

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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