ECON 201 Macroeconomics – Lumen

This set of ECON 201 Macoreconomics course materials prepares students to apply economic thinking and analysis in the context of national economies, monetary and fiscal policy, and variables and indicators of macroeconomic health. Students will learn about the key macroeconomic indicators of GDP, unemployment, and inflation, then how to apply these concepts to analyze economic policy and behavior. Content coverage includes choice and scarcity; supply and demand; elasticity; applications of supply and demand; elasticity; GDP and economic growth; unemployment and inflation; the aggregate demand-aggregate supply model; Keynesian economics and neoclassical economics; the income-expenditure model; fiscal policy; money and banking; monetary policy; policy applications; globalization and trade; exchange rates and international finance.

To provide a rich, engaging learning experience, course materials include not only complete content, but also well-aligned assignments and quizzes, online problem sets, interactive learning activities, and more.

Course Improvements in 2018

Several topics proved to be consistently difficult for the thousands of students who took a Waymaker Economics course during Fall 2017. We have made specific data-driven improvements to address these difficult topics, as well as general improvements to the course as a whole:

  • Improved course organization
  • Try It embedded practice questions
  • “Learn By Doing” pages for even more practice
  • “Watch It” embedded videos that explain and reiterate key concepts throughout the course
  • Interactives that explain complicated graphs in a step-by-step process
  • Discussions and assignments for every module
  • Problem Sets for every module

For more information on these improvements, please visit the About this Course page.

Lumen OER courses apply learning science to engage students and better support the learning process. Lumen materials aim to deliver an active learning experience. They include text, images, videos, assessments, directed feedback, practice questions, simulations, and other interactives that invite students to apply their knowledge, improve their understanding, and perform better. Term over term, Lumen’s Waymaker courseware makes it possible to use learning data to identify where content improvements are needed. We work collaboratively with faculty and subject matter experts to develop and test iterative, continuous improvements aimed at increasing efficacy and learning.

Contact your Program Chair to let them know that you’re interested in adopting the course, and to confirm the appropriate Banner Designation: OMPF.

ECON 201 Macoreconomics is available as a Waymaker course.

  • Waymaker: User-friendly digital courseware with data-driven learning design, personalization, and messaging tools that can increase student engagement, persistence, and passing rates.

Developed By

This course is based on OpenStax Principles of Economics, enriched with additional significant contributions by the Lumen Learning team and subject matter experts including Steven Greenlaw, Clark Aldrich, Jennifer Pakula, Veronika Dolar, Michael Fusillo, Sophie Haci, Shawn Kilpatrick, and Melissa Walker.

IMPROVING AFFORDABILITY AND STUDENT SUCCESS

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HOW TO ADOPT AN OER COURSE

  1. Review course materials:  Click on the button “Review Course Content and Outcomes” above to view the content in Canvas.
  2. Approval:  Discuss and receive approval from your Program Chair.
  3. Adopt Appropriate Banner Designation:  Contact your campus course builder to add one of the following:
      • A) OMSF, Open Material Selection Fee: $15 OER materials (Candela)
      • B) OMCF, Open Material Course Fee: $15 OER course package (Candela + course)
      • C) OMPF, Open Materials Platform Fee: $30 OER platform package (Waymaker or OHM only)
      • D) OMPC (Open Materials Platform Course): $30 OER platform (Waymaker + course)

OER COURSES FOR IVY TECH

Ivy Tech has partnered with Lumen Learning to design courses using open educational resources (OER) that improve learning and replace expensive textbooks in high-enrollment subjects. With a cost of just $15-$30 per enrolled student, these courses often surprise faculty members by their combination of quality, ease of adoption, and affordability. This fee guarantees day one access to course content for students. It also funds Ivy Tech’s future OER development and the technical support and OER expertise provided by Lumen.

Ivy Tech’s OER initiative is lead by an OER Cross Discipline Team made up of program chairs, department chairs and deans from across the College. It was formed in 2016 to prioritize courses for the transition to OER, and to oversee quality in the course development process. Ivy Tech partners with leading OER provider Lumen Learning to support content curation, creation, and delivery of OER content.

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FOR INSTRUCTORS

  • Ready-to-Adopt: Lumen provides easy-to-customize course materials that work seamlessly inside Canvas and have the supplemental resources that open content doesn’t always have, like quiz banks, PowerPoints, assignments, and automatic grading, saving you time. Many courses include a pacing guide, to assist in adjusting term length.
  • Affordable: We work with institutions to consider payment options that best support their goals for access, affordability, and student success. We offer multiple options that fit easily into existing administrative and funding processes and the price ranges from $15-$30 per student, per course.
  • Student Engagement: Lumen courseware includes interactive simulations, practice questions, online homework, personalized learning tools, and other learning activities to engage students and help them become better learners.

See OER pioneer David Wiley’s overviews of Lumen courseware.

DETAILS ABOUT LUMEN COURSES

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What’s Waymaker?

User-friendly digital courseware with data-driven learning design, personalization, and messaging tools that can increase student engagement, persistence, and passing rates.

  • Personalized study plans
  • Texts and supplemental materials
  • Real-time feedback
  • Easier communication & connection
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What’s OHM?

Lumen’s Online Homework Manager (OHM) is a flexible, LMS-integrated math homework engine with learning content and activities you tailor to fit your students’ needs.

  • Instruction & homework system
  • Customizable courses
  • Immediate feedback for students
  • Ongoing faculty support
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What’s Candela?

Extremely affordable and highly customizable e-book with curated text, video, interactives, and other learning materials to replace expensive textbooks.

  • 20 courses customized specifically for Ivy Tech students
  • OER for 60+ courses
  • Customizable curriculum