PRINCIPLES OF MICROECONOMICS
SUMMER II 2012
LECTURE: M-TH 12:15 - 02:10 PM, RRC RRC2 Room 2224.00
Office: Room 1029, Pinnacle Campus,
Phone: Office: 512-223-1795 x 26259 cell: 817-235-7206 (for emergencies only)
Office Hours: 11:50AM –1 2:30 PM MW at Room TBD, or By Appointment
Principles of Microeconomics deals with the interactions between individual households and business
firms. The concepts of supply and demand will be studied; students will learn what these concepts mean,
how they operate, and how prices are determined. Market structure, market failure and income distribution
will also be considered.
Principles of Microeconomics is a 3 credit hour course, and consists of 3 lecture hours per week. Class attendance is mandatory.
¿ Required: Microeconomics, 19th Ed, McConnel, Brue, Flynn – McGraw-Hill Erwin
SCANS is the Secretary’s Commission on Achieving Necessary Skills. Please go to http://www.austincc.edu/mkt/scans.htm#whatis for complete definitions and explanation of SCANS. This list summarizes the SCANS competencies addressed in this particular course.
1. Student exhibits responsibility: Exerts a high level of effort and perseverance toward goal attainment, works hard to become excellent at doing tasks by setting high standards, paying attention to details, working well and displaying a high level of concentration even when assigned an unpleasant task; and displays high standards of attendance, punctuality, enthusiasm, vitality and optimism in approaching and completing tasks.
2. Student acquires information: Identifies need for data, obtains them from existing sources or creates them, and evaluates their relevance and accuracy. Competently performing the tasks for acquiring data and evaluating information includes posing analytical questions to determine specific information needs, selecting possible information and evaluating its appropriateness, and determining when new information must be created.
3. Student communicates information: Selects and analyzes information and communicates the result to others using oral, written, graphic, pictorial, or multi-media methods. Competently performing the tasks of communicating and interpreting information to others includes determining information to be communicated, identifying the best methods to present information (i.e. overheads, handouts, etc.), and if necessary, converting to desired format and conveying information to others through a variety of means including oral presentation and written communication.
The objectives of this course will be met by incorporating a variety of instructional methods. These include lecture, class exams and quizzes, class problem-solving, written analysis, spreadsheet, and word processing.
This course is meant to give students insight into the dynamics of a market based economy and how through its mechanism scarce resources are allocated. The theoretical and actual role of the government in this market system will also be addressed. The knowledge gained in the course will make students better informed citizens and allow them to follow the debates over various economic events and policies reported in the news media. This course is also a foundation course that will prepare students to be successful in
upper division finance, marketing, business administration, economics, government, and social work courses.
COMMON COURSES LEARNING OBJECTIVES/OUTCOMES:
Students who complete this course will be able to understand:
-the basic concepts of scarcity and opportunity cost;
-the forces of demand and supply and how they interact to determine an equilibrium price;
-how and why equilibrium prices might change and their impact on resource allocation;
-the theory of consumer behavior;
-the theory of the firm;
-the theoretical market structures of perfect competition and monopoly.
Academic Freedom Statement: Each student is strongly encouraged to participate in class. In any classroom situation that includes discussion and critical thinking, there are bound to be many differing viewpoints. These differences enhance the learning experience and create an atmosphere where students and instructors alike will be encouraged to think and learn. On sensitive and volatile topics, students may sometimes disagree not only with each other but also with the instructor. It is expected that faculty and students will respect the views of others when expressed in classroom discussions. (See Student Handbook: www.austincc.edu/handbook)
Student Discipline: Classroom behavior should support and enhance learning. Behavior that disrupts the learning process will be dealt with appropriately, which may include having the student leave class for the rest of that day. In serious cases, disruptive behavior may lead to a student being withdrawn from the class. ACC's policy on student discipline can be found in the Student Handbook: www.austincc.edu/handbook
Scholastic Dishonesty: Acts prohibited by the college for which discipline may be administered include scholastic dishonesty, including but not limited to cheating on an exam or quiz, plagiarizing, unauthorized collaboration with another in preparing outside work. Academic work submitted by students shall be the result of their thought, research or self-expression. Academic work is defined as, but not limited to tests, quizzes, whether taken electronically or on paper; projects, either individual or group; classroom presentations, and homework. Electronic devices may not be used for exams unless specifically authorized by the instructor. Penalties for scholastic dishonesty will depend upon the nature of the violation and may range from lowering a grade on one assignment to an F in the course and/or expulsion from this institution.
See Student Handbook: www.austincc.edu/handbook
Students with Disabilities Statement: Each ACC campus offers support services for students with documented physical or psychological disabilities. Students with disabilities must request reasonable accommodations through the Office for Students with Disabilities on the campus where they expect to take the majority of their classes. Students are encouraged to make their requests three weeks before the start of the semester. (See Student Handbook: www.austincc.edu/handbook)
Grade Change Policies: Click on this link to view the policy. See Student Handbook: www.austincc.edu/handbook
Rule of Three: Per state law, effective spring 2006 any student taking a class for the third time or more may be charged an additional $60 per credit hour unless exempted. Click on this link for more information:
COURSE EVALUATION/GRADING SYSTEM:
Exam 1 100
Exam 2 100
Exam 3 100
Exam 5 (Final) 150 Comprehensive
Total Points 450
Exams: The exams will be a combination of multiple choice and problems. DO NOT MISS EXAMS. If you must miss an exam, please contact me BEFORE the start of the class following the exam by email, phone or a call to the school’s counseling department. No make-up exams will be given. If you have a reasonable reason for missing the exam, and you make the effort to contact me as discussed above, then the missed exam will be an “excused exam” and the final exam score will also be used as the missed exam. PLEASE NOTE, HOWEVER, THAT A STUDENT CANNOT MISS MORE THAN ONE EXAM AND PASS THIS COURSE.
Quizzes: There will be 8 in-class unannounced quizzes, and each quiz will be worth 20 points. The lowest 3 quiz grade will be dropped. There will be NO MAKE-UPS on quizzes. Quizzes are the only source of extra credits, and cannot hurt you. The top five quiz grades may be used to offset any of the first four exams where the quiz grade total exceeds the exam grade, but only if the exam was actually taken. The quizzes may not be used to offset the fifth or final exam or an exam that was missed.
Basis for Grading:
Attendance: Your attendance is expected at all classes. Since the exams are a reflection of the material covered in class and assigned homework, it is to your advantage to attend.
Withdrawal: TBA is the last day to withdraw from this class and receive a grade of “W”. If you wish to withdraw, it is your responsibility to do so. DO NOT ASSUME THAT I WILL WITHDRAW YOU. I have no obligation to do so.
Incomplete: Incomplete grades are given only on rare occasions at my discretion. Generally, to receive an Incomplete, a student must have completed all examinations and assignments to date, be passing, and have personal circumstances that prevent course completion that occur after the deadline to withdraw.
Homework: At my discretion, several quizzes will be restructured as homework assignments, and their due dates will be announced in class. The assignments will cover important issues that lend themselves to essay and/or problem solving methodologies.
Class Activities: Class activities will consist of lecture, class discussion, and problem solving.
Tutoring: The availability and scheduling of tutors will be discussed in class.
TENTATIVE COURSE SCHEDULE
July 09 Introduction - Chapter 1
10 Chapter 2
11 Chapter 2& 3
12 Chapter 3 Review for Test 1
16 TEST 1- CHAPTERS 1-3
17 Chapter 4
18 Chapter 6
19 Chapter 7
23 Chapter 7- Review for Test 2
24 TEST 2 – Chapters 4, 6 & 7
25 Chapter 8
26 Chapter 9
30 Chapter 9 & 10
31 Chapter 10
Aug 01 Chapter 11
02 Chapter 11 – Review for Test 3 – Chapters 8-11
06 TEST 3 – CHAPTERS 8-11
07 Chapter 12 - Special Handout
08 Chapter 12 -Special Handout
09 Chapter 13 – Special Handout
13 Chapter 13 – Special Handout, Chapter 20
14 Chapter 21
15 FINAL EXAM – COMPREHENSIVE & CHAPTERS 12-12, & 20-21