Required Books:

(Combined Version) Economics (fourth edition), Dolan
Understanding Capitalism (third edition), Samuel Bowles, Richard Edwards, and Frank Roosevelt

Reading (* means extra):

I. The Economic Approach - January 18-23

a. Economics, Chapter 1. b. Understanding Capitalism, Chapters *1, 2, 3 and 5. c. Mark Maier, “From the Classroom to the White House, N. Gregory Mankiew’s Popular Textbook Distorts Economics,” Dollars and Sense, July/August 2003. d. Martin Hart-Landsberg, “Economic Enlightenment-Help!!!,” Reports From The Economic Front, May 9, 2010.

The National Council on Economics Education, a mainstream economics group, has published a list of 20 "standards" for teaching economics.  See Paddy Quick’s response, “A Critique of ‘Standards of Economics’”  For information about an international movement (initiated by French students) that challenges mainstream dominance of the economics profession, see the Post-autistic Economics Network

II. Understanding Capitalism - January 25-27

a. Understanding Capitalism, Chapters 6 and 7. b. United For a Fair Economy, New Data: The Wealth Divide Widens. c. Martin Hart-Landsberg, “Wealth Inequality,” Reports From The Economic Front, October 24, 2011.

To learn more about the distribution of wealth in the U.S., watch the Ten Chairs wealth game

III. Microeconomics: Markets and Power

A. Markets and Market Behavior - January 30-February 3

1. Understanding Capitalism, Chapters *8 and 9 (pp. 199-209). 2. Economics, Chapters 2, 3, and *5. 3. Understanding Capitalism, Chapter 9 (pp. 209-225) 4. John Miller, “Free, Free at Last,” Dollars and Sense, March/April 2005. 5. Martin Hart-Landsberg, “Corporate Personhood: Getting Rid Of The ‘Middle Man,’” Reports From The Economic Front, February 3, 2010. 6. *Richard York, Brett Clark, and John Bellamy Foster, “Capitalism in Wonderland,” Monthly Review, May 2009. 7. Ian Angus, “The Myth of the Tragedy of the Commons,” MRZine, August 25, 2008. 8. *Ian Angus, “Once Again: The Myth of the Tragedy of the Commons,” Climate and Capitalism, November 3, 2008.

EXAM 1 - February 6

B. Production and Profits - February 8-17

1. Economics, Chapters 8 and 9. 2. Understanding Capitalism, Chapters 10 and 11. 3. Sharon Beder, “Consumerism: An Historical Perspective," Pacific Ecologist, Spring 2004. 4. Josh Bevines, "Profit Growth Swamps Labor Income," Economic Policy Institute, March 30, 2006. 5. United For a Fair Economy, CEO Pay Charts. 6. Martin Hart-Landsberg, “How Long Would You Have To Work To Earn As Much As A Top CEO,” Reports From The Economic Front, November 8, 2009. 7. Zocalo, “How Much Do Monopolies Control?” September 6, 2010. 8. John Bellamy Foster, Robert W. McChesney, and R. Jamil Jonna, "Monopoly and Competition in Twenty-First Century Capitalism," Monthly Review, April 2011. 9. Martin Hart-Landsberg, “A Business Look At The Post-Crisis World,” Reports From The Economic Front, September 29, 2009.

For a critical look at corporate behavior visit Corporate Watch Check on what has been happening to CEO compensation at the AFL-CIO’s Executive Pay Watch Check out the Internet Guide to Power Structure Research

C. Wages and Work - February 20-29

1. Understanding Capitalism, Chapters 12 and 13. 2. Samuel Bowles and Arjun Jayadev, "Garrison America," Economists' Voice, March 2007. 3. Martin Hart-Landsberg, “Union Busting,” Reports From The Economic Front, June 20, 2009. 4. Martin Hart-Landsberg, “Poverty And Employment,” Reports From The Economic Front, January 13, 2010. 5. Annette Bernhardt, Heather Boushey, Laura Dresser, and Chris Tilly (editors), Confronting The Gloves-Off Economy, America’s Broken Labor Standards and How to Fix Them, July 2009.

For daily coverage of labor struggles throughout the world see LabourStart For insightful commentary on the trade union movement read Labor Notes For information on strategies to promote full-employment see The Drive For Decent Work—Full Employment Now For coverage and analysis of the living wage movement visit Living Wage Jobs For All Campaign

D. Micro Trends and Assessment - March 2-5

1. Understanding Capitalism , Chapters *9 and 14. 2. G. William Domhoff, Wealth, Income and Power, September 2005 (updated April 2010). 3. *Working Group On Extreme Inequality. 4. Martin Hart-Landsberg, “Working Blues,” Reports From The Economic Front, June 3, 2010. 5. Martin Hart-Landsberg, “Labor Market Blues,” Reports From The Economic Front, September, 19, 2011. 6. Martin Hart-Landsberg, “One Nation Divisible,” Reports From The Economic Front, September 5, 2011. 7. Martin Hart-Landsberg, “Wage Inequality In Oregon,” Reports From The Economic Front, January 25, 2010. 8. Martin Hart-Landsberg, “Inequality: Class and Race,” Reports From The Economic Front, November, 7, 2011. 9. Sylvia Allegretto, “The Gender Pay Gap is the Smallest on Record—Not Necessarily Good News,” Economic Policy Institute, September 6, 2006. 10. Martin Hart-Landsberg, “Some Facts About Taxes And The Rich,” Reports From The Economic Front, February 7, 2010. 11. Martin Hart-Landsberg, “Life At The Very Very Top," Reports From The Economic Front, March 1, 2010. 12. *Chye-Ching Huang and Chad Stone, "Average Income in 2006 Up $60,000 for top 1 Percent of Households, Just $430 for Bottom 90 Percent," Center on Budget and Policy Priorities, July 30, 2008. 13. *Aviva Aron-Dine and Isaac Shapiro, “Share of National Income Going to Wages and Salaries at Record Low in 2006,” Center on Budget and Policy Priorities, March 29, 2007.

For detailed yearly data on earnings see The Economic Policy Institute For an examination of income and poverty trends see The Left Business Observer Watch an OECD video, “Divided We Stand,” on the rise and extent of income inequality. For information on the state of the Oregon economy see The Oregon Center for Public Policy For an alternative measure of progress/well-being see The Genuine Progress Indicator

EXAM 2 - March 7

IV. Macroeconomics: Instability and Growth - March 9-April 18

a. Economics, Chapters *17, 18, 19, 22, 24, 21,*20, 23. b. Understanding Capitalism, Chapters 16, 17, 18, and 19. c. Testimony of Jonathan Rowe Before the United States Senate Committee on Commerce, Science and Transportation, Subcommittee on Interstate Commerce, on “Rethinking the Gross Domestic Product as a Measurement of National Strength,” March 12, 2008. d. *John Gertner, “The Rise and Fall of GDP,” New York Times Magazine, May 10, 2010. e. *Mike Shedlock, Grossly Distorted Procedures, May 11, 2005. f. John Bellamy Foster and Fred Magdoff, "Financial Implosion and Stagnation, Back To The Real Economy," Monthly Review, December 2008. g. Martin Hart-Landsberg, “What Lies Ahead For The U.S. Economy?” Reports From The Economic Front, August 9, 2009. h. *Paul Krugman, “How Did Economists Get It So Wrong,” New York Times Magazine, September 2, 2009. i. Martin Hart-Landsberg, “Jobs and Military Spending,” Reports From The Economic Front, November 25, 2009. j. Martin Hart-Landsberg, “Deficits And The Military,” Reports From The Economic Front, November 25, 2011. k. Martin Hart-Landsberg, “A Seat At The Table of Power,” Reports From The Economic Front, September 26, 2011. l. Martin Hart-Landsberg, “Market Outcomes And Political Power,” Reports From The Economic Front, August 25, 2011. m. *Ryan Grim, “Priceless: How the Federal Reserve Bought The Economics Profession,” Huffington Post, July 5, 2010. n. John Bellamy Foster and Robert W. McChesney, “A New Deal Under Obama?" Monthly Review, February 2009. o. *Nancy E. Rose, “Lessons from the New Deal Public Employment Programs,” Monthly Review, October 2009.

For an alternative measure of progress/well-being see The Genuine Progress Indicator For a look at current economic trends see Reports From The Economic Front

EXAM 3 - April 20

V. International Economics - April 23-25

a. Understanding Capitalism, Chapter 15. *b. Economics, Chapter 7. c. Martin Hart-Landsberg, “Immigration And Wages,” Reports From The Economic Front, May 25, 2010. d. Martin Hart-Landsberg, “China And The Jobs Issue,” Reports From The Economic Front, January 21, 2011. e. Martin Hart-Landsberg, “A Shaky World Economy,” Reports From The Economic Front, August 15, 2011. f. Martin Hart-Landsberg, “European Nightmare,” Reports From The Economic Front, December 11, 2011.

For information on globalization see: Public Citizen Global Trade Watch The Center for Economic Policy and Research

FINAL EXAMINATION - May 1

POSTER ART BY DOUG MINKLER

GRADING

Accommodations: If you have a disability that may impact your academic performance, you should request accommodations by submitting documentation to the Student Support Services Office located in Albany 206 (503-768-7156).  Once that office notifies me of the accommodations for which you are eligible we can meet to decide how best to proceed.  You should begin this process as soon as possible. Academic Integrity: According to the Lewis & Clark College 's Academic Integrity Policy: Acts of academic dishonesty involve the use or attempted use of any method or technique enabling a student to misrepresent the quality or integrity of his or her academic work. Academic dishonesty with respect to examinations includes but is not limited to copying from the work of another, allowing another student to copy from one's own work, using crib notes, arranging for another person to substitute in taking an examination, or giving or receiving unauthorized information prior to or during the examination. Academic dishonesty with respect to written or other types of assignments includes but is not limited to: failure to acknowledge the ideas or words of another that have consciously been taken from a source, published or unpublished; placing one's name on papers, reports, or other documents that are the work of another individual, whether published or unpublished; flagrant misuse of the assistance provided by another in the process of completing academic work; submission of the same paper or project for separate courses without prior authorization by faculty members; fabrication or alteration of data; or knowingly facilitating the academic dishonesty of another. Please be aware, the penalties for violating this policy are severe. Ignorance is no excuse. Your grade in principles of economics will be based on your performance in the following categories (with percentage weighting): 1. Attendance and Participation (15%). You are required to attend all classes on time, fully prepared to participate. Missed classes, lateness, and/or poor class participation will lower your grade. 2. Three Examinations (20% each). 3. Cumulative Final Examination (25%).