SAINT MARY'S COLLEGE

Department of Business Administration  and Economics           

 

ECON 495                                                                              Professor Jerry McElroy

Senior Economics Seminar                                                            Office: 106 Madeleva

Spring 2002                                                                             Phone:  4488; home:234-2827

<http://www.saintmarys.edu/~jmcelroy/>                                 Hours: W 9-12, or appt.

                                     

DESCRIPTION:        Senior level capstone integrative and research course which has three specific objectives: (1) to round-out students' general education in Economics, (2) to cover a new field of enquiry, and (3) to produce a quality research paper aimed at journal submission.  Prerequisites:  BUAD 341, ECON 351-352.

 

CAPSTONE INTEGRATION:  Will consume the first 5-10 minutes of each class and involves students presenting graphs/models to explain contemporary issues/news clippings.  Presentation dates assigned with an asterisk by student's name (McElroy*) (see below).

 

CONTENT FOCUS:            On the small island economies around the world in the process of modernization, i.e. political, economic and social change.  The particular focus is on (1) understanding how small islands behave, (2) appreciating their fragile environments, (3) contrasting their limited resources with their development aspirations, and (4) discovering economic strategies that are sustainable.  By examining postwar patterns of development across the globe, in a number of different island settings, students will discern commonalities that constitute contemporary island experience, and thus gain valuable background insights for writing their research papers.

 

The text is Beller and others, Sustainable Development and Environmental Management of Small Islands (Parthenon/UNESCO, UK/Paris, 1990; and other handout articles.

 

RESEARCH PAPER:  Will involve these five components completed in five progressive stages.  Here are the stages.

           

            1.            The formulation of a Research Proposal involving (1) topic selection, (2) specification of a testable hypothesis, (3) support from the literature (if brief) on the topic's importance/relevance, (4) identification of data sources, and (5) the outline in broad terms of the rest of the paper.  Components 1-3 and 5 form the "Introduction" section of the research paper.  The Research Proposal is due February 14.                                                                           

 

            2.            Review of the important Literature--various theories addressing the hypothesis and empirical results--assisted by a computer-aided literature search, that summarizes articles.  The Literature Review is due March 21.

 

            3.            Statistical Analysis of the data plus graphic and/or tabular presentation of same, most likely regression analysis (most likely multiple).  Due April 9.

 

4.                  Interpretation and first-draft write-up of the results plus conclusions about the

ECON 495—page 2

 

veracity of the hypothesis.  This draft must include the following completed (if rough) sections:  Introduction, literature review, methodology and data section, data analysis and interpretation, summary and conclusions.  Due April 23.

 

            5.            Revised Final Draft after incorporating changes and corrections suggested by the Instructor.  This will be due at the time of the final exam when the student will present the research paper verbally (10-15 minutes).  It must also include any footnotes and all references in the bibliography.

 

The paper should run roughly 15 pages and follow this format:

 

            1.            Introduction:  what is the problem under investigation including (1) a short clear statement of the hypothesis, (2) a paragraph or two on its importance, and (3) a concluding paragraph that outlines the rest of the paper.

 

            2.            Literature Review:  with emphasis on authors (1) from the required text (where much literature is cited) and (2) from the computer search.  Briefly summarize what others have discovered about your hypothesized relation.

 

            3.            Methodology:  will begin with (1) a restatement of your hypothesis and (2) also covering variable selection, data sources and manipulation (if needed) and discussion of statistical technique (usually multiple regression analysis).

 

            4.            Analysis:  which will present the data results in tables or graphs and extensively verbally interpret the findings in light of the hypothesis.  It will also involve interpreting the coefficient of determination (R2), the t-statistic (or F-value), and the Durbin-Watson statistic (if times series data is used).

           

            5.            Conclusion:  containing (1) short summary of main results, (2) suggested policy implications flowing from your research, and (3) an outline of further future research tasks that might flow from your research.  This will be followed by the Bibliography and any statistical appendices.

                                                           

PROCEDURES:

The final grade will be based on a total of 100 points distributed according to the following weights:

 

            Final research paper                          60 points

            Quizzes on text material             20

            Chapter presentations from text            10

            Oral presentation of paper               5

            General class participation                  5 

 

FORMAT:            Each class will normally involve three sequential activities: (1) discussion of

ECON 495—page 3

 

news item issues (INTEGRATION) led by the students, (2) the construction of the RESEARCH PAPER led by the Instructor, and (3) the learning of island course CONTENT from the text and other handouts.  Note that the style of the research paper discussions is based on The Mentor Demonstration Model whereby the Instructor--doing his own research project--writes his own proposal, gathers data, interprets results, etc. to provide a standard for students to follow.  Each step along the way the Instructor will "demonstrate" or "mentor" the Introduction, the Literature Review, the Methodology section etc. so students can clearly see in written form the quality of work needed for journal submission.  Note especially that the assigned reading in the text is for everyone to complete for each class.  Note also that the chapters in the Beller text will be presented by the students, i.e. 15-20 Minutes.  Note also that the type of testing on text material will be determined by the students. (Usually 5-minute T/F quizzes)

 

                        RESEARCH TASKS                                READING ASSIGNMENTS from text.

                                                                                         () Refers to Beller.The CAPITALIZED

                                                                                         STUDENT is the presenter.The other

                                                                                         student (*) comments & news item.

 

1/15                 Scope out paper, mentor              Islands as physically integrated

                        model, syllabus                                    systems (handout--McElroy) Mapping.

1/17                Text references, footnotes                      (1) Overview themes (COURT-Meag*)

                        bibliography                                  

1/22                 Format for data tables/graphs                (2)            How to sustain a small island

                                                                                                   (MARY-Sarah*)

1/24                 Mechanics of computer-aided                        (3)            An approach to islands

                        literature search (McElroy)                                    (LIS-Erin*)                                     

1/29                 Hypothesis discussion of                     (4)       Problems/Prospects of islands

                        some possibles (handout)                                  (JEANNE-Amy*)

1/31                 Continuing discussion on the               (5)       Managing island sustainability

                        hypothesis/possible topics                           (MEAG-Court*)

                                     

2/5                   Discussion on research             (6)            Between Aldabra and Nauru

                        proposal                                                          (SARAH-Mary*)

2/7                   Demonstration of research                       (8)            Marine resources and isle dev.

                        proposal (MCELROY)                           (ERIN-Lis*)           

2/12                 Discuss data sources                             (11)            Greek Islands (AMY-Jeanne*)

2/14                  Proposals: C, Mary, L & J                   (12)     Gozo (COURT-Mary*)                                                              

2/19                 Proposals: A, E, S, Meag                           (13)            Isle of Man (LIS-Jeanne*)

2/21                 Student proposals returned                        Handout (McELROY-McElroy*)

 

2/26                 Demonstration of computer-                    (14)            Breton Isles (AMY-Erin*)

                        aided lit. search (McELROY)               

2/28                 Writing hints (McELROY)                (15)            Mauritius (SARAH-Meag*)

3/5                   Lit. searches due: A,E,S, Meag            (16)            Pacific Is. (MARY-Lis*)                                         ECON 495—page 4               

 

3/7                   Lit. searches due: C,My,L & J            (10)            Mediterranean Isles

                                                                                                (JEANNE-Amy*)

-------------------------(Spring Break)------------------------------------

 

3/19                 Demonstration of lit. review              (18)            Dilemma of tourism in Bali

                        in written form (McELROY)                               (ERIN-Sarah*)

3/21                 Written lit. reviews due:  Amy                 Tropical Island Tourism

                         Erin, Sarah, Meaghan                                                     (McELROY)

3/26                 Written lit. reviews due:             (21)            Small Caribbean Islands

                         Court, Mary, Lis, Jeanne                                (McELROY)

3/28                 Demonstration of methodology            (23)            Small Canadian Islands

                        section/results (McELROY)                                (MEAGHAN-Court*)

 

4/2                   Catch-up Day                                                       Handout (McELROY)                 

 

4/4                   Return of draft lit. reviews                                     Handout (McELROY)

 

4/9                   Student drafts due of methodology section and data analysis section.  Must include written draft of Method. Section, data tables and roughly written interpretation.  Court, Mary, Lis & Jeanne

                        must verbally present their results in class.

4/11                 Student drafts of methodology section etc. due for Amy, Erin, Sarah and Meaghan.

4/16                 Return of methodology and data interpretation sections.  McELROY presents his full paper.

 

4/18                 No formal class--time set aside for individual consultation.  Every student must arrange a 15-minute interview with Instructor to assess progress/problems.                                                         

4/23                 Students hand in entire draft research paper including conclusions:  Introduction, literature, Methodology, Analysis, Conclusions.   Bibliography can wait for final revised draft.

 

4/25                  No formal class.  Catch-up, individual consultations.

 

4/30                 Instructor returns student paper drafts and explains the nature of final revisions that must be incorporated.

5/2                   Last day of class--evaluations--summing up, etc...

 

TBA                 Final exam date and time is when Final Revisions due.  During this two-hour period, 10:30 - 12:30, each student will formally present her paper taking about 15 minutes.