Economics 2020 - Principles of Economics II:  Macroeconomics

Purpose: to help other instructors teaching the same course

Common Course ID:  Economics 2020
CSU Instructor Open Textbook Adoption Portrait

Abstract: This open textbook is being utilized in an economics course for undergraduate by Lizzette Arroyo at California State University, Los Angeles. The open textbook provides chapter by chapter readings, summaries, and practice questions with solutions. The main motivation to adopt an open textbook was reduce the overall cost of obtaining an education. Most students access the open textbook online.

Course Title and Number: Economics 2020 – Principles of Economics II: Macroeconomics

Brief Description of course highlights:  Concepts and tools of aggregate economic analysis; inflation, unemployment, balance of payments, national income; determinants of the level of economic activity; money and banking; the role of government..

Student population: Most students taking the course a first or second year students studying business.  The prerequisite course is Economics 2010, Principles of Economics I: Microeconomics. 
Learning or student outcomes: 

• SLO 1: Understand important macro-economic measures and variables: GDP, Interest rate, inflation, price level
• SLO 2: Demonstrate understanding of circular flow model of the economy
• SLO 3: Define and understand aggregate demand and supply
• SLO 4: Understand the role money and the banking system plays in the economy
• SLO 5: Demonstrate understanding of fiscal and monetary policy's effect on the macro-economy
  Syllabus and/or Sample assignment from the course or the adoption: Students complete reading quizzes from the textbook prior to each lecture. 

Textbook or OER/Low cost Title: Principles of Macroeconomics, 2e

Brief Description: “Principles of Macroeconomics 2e covers the scope and sequence of most introductory economics courses. The text includes many current examples, which are handled in a politically equitable way. The outcome is a balanced approach to the theory and application of economics concepts. The second edition has been thoroughly revised to increase clarity, update data and current event impacts, and incorporate the feedback from many reviewers and adopters”. - Openstax
Please provide a link to the resource:  Principles of Macroeconomics
Authors:  Greenlaw and Shapiro
Student access:  Students have the option of viewing the textbook online at the OpenStax website, downloading the OpenStax app, downloading a PDF file, ordering a print copy, or downloading the book on Kindle. 

Supplemental resources: When students create a profile on OpenStax they gain access to additional features such as highlighting and creating study guides.
Provide the cost savings from that of a traditional textbook.  The typical economics textbooks is about $300. The OER book is completely free.
License: Creative Commons Attribution License v4.0.

OER/Low Cost Adoption Process

Provide an explanation or what motivated you to use this textbook or OER/Low Cost option. I chose OpenStax because the offer their online textbooks completely free of charge. The offer material in many subjects. I browsed the book a bit and determined it was user friendly with short sections, illustrations, and review questions to help with understanding.

How did you find and select the open textbook for this course? I have heard great recommendations of the OpenStax textbooks.

Sharing Best Practices: The sustainability of open education relies on sharing with others. Please give suggestions for faculty who are just getting started with OER or Low Cost options.  List anything you wish that you had known earlier.

Describe any challenges you experienced, and lessons learned. The book is free so it does not compare against economics textbooks from the large publishers. The interactive features that often help with understanding (common with large publishers) are not available for the OpenStax book I use. It is lacking in some topics but I have learned to make up for it by creating my own worksheets and spending more time on those lessons.  

Instructor Name:  Lizzette Arroyo
I am an economics instructor at the California State University, Los Angeles. I teach microeconomics and macroeconomics.

Describe your teaching philosophy and any research interests related to your discipline or teaching.
As a life-long learner, my goal as an instructor is to instill in my students the joy of learning for the sake of it. I believe that with the right teachers, any person can be a bookworm, a nerd, a thinker, a critic, a scholar.