ECON 2302
Principles of Microeconomics
Fall 2008
Northridge Campus
M-W: 2:50 - 4:05pm
INSTRUCTOR: Stuart
Greenfield TEL: 512-323-2232
OFFICE: Adjunct
Offices CLASSROOM: NRG2 2120
OFF. HOURS: MW,
before and after class E-MAIL: sjg@austin.rr.com
or
and by appointment sgreenfi@austincc.edu
COURSE
MATERIALS:
– McConnell and Brue, Microeconomics, 17th. ed.
(ISBN: 978-0-0-07-327309-9)
- text
supplemental material at http//sgreenfield.pageout.net,
then select ECON2302, FA08
Analysis
of the principles underlying the behavior of individual consumers and business
firms. Topics include problems of international trade and finance, distribution
of income, policies for eliminating poverty and discrimination, problems of
environmental pollution, and effects of various market structures on economic
activity.
Course Goals/Objectives
Bloom's taxonomy of learning separates the
learning process into six categories—knowledge, comprehension, application,
analysis, synthesis, and evaluation. Although this breakdown is not the final
word in classifications of this type, it is useful in making a point about
learning economics. In an economics course, it is insufficient simply to
memorize facts. A look below at the goals of this course reveals the levels of
learning you should be able to demonstrate upon completion. After this course, you
should be able to
In addition to the course goals, this course
also focuses on cross-curricular initiatives, detailed below, which are
designed to help you build skills to enhance your career and overall professional
effectiveness.
·
Effective
writing. You will perform
numerous writing assignments throughout the semester, which should reflect
appropriate professional writing skills. They will be evaluated on the basis of
grammar, sentence structure, spelling, and general writing principles. At
least 10 percent of your grade on each writing assignment will be based on your
proficiency in expressing yourself in writing.
·
Information
literacy. You will be expected
to demonstrate proficiency in research with the use of the library and online
sources.
·
Globalization. An important outcome of this course will be your
realization that microeconomic principles apply to global situations.
·
Computerization. The computer has altered the way in which
microeconomic research is conducted. This course emphasizes the increasing use
of the computer in microeconomics.
·
Historical
perspective. This course charts
the historical development of microeconomic theory to give you a context for
current theories and practice.
·
Civic
responsibility. Throughout this
course, we explore ethical behavior and the role of microeconomics in society.
Economics is one of the least understood
disciplines, yet its application dramatically affects the average person's
quality of life. Economics explains what and how many goods are produced for
and purchased in the market, what prices are charged, the level of income and
employment in the economy, and how far one's hard-earned dollar goes.
Principles of Macroeconomics introduced the methods and tools economists use to
understand how markets work, to determine the health of the economy, and to
detect and solve problems. It examined the economy as a whole and as divided
into basic sectors (private, government, international).
This course covers microeconomics. In this
course, we look at the decision-making processes of individual units within the
market economy, including firms, industries, households, and government
entities. We examine issues such as the ways in which
Microeconomics further asks whether these
decision-making processes result in an allocation of resources that best
satisfies society's preferences and needs.
Economists develop models to help them
analyze and understand relationships within the economy, and they bring a
common set of tools and reasoning strategies to economic problems. Just as a
model train lacks the complexity of a real train, however, economic models
also, by necessity, are much simpler than the true economy. For instance, not
all markets are equally competitive. Although economic tools and reasoning
strategies may be consistent across models, the models themselves must vary
according to the competitiveness of different firms.
Furthermore, the market does not always work
toward the efficient allocation of society's scarce resources. Typically, we
look to the government to respond in situations of market failure.
Microeconomics questions whether the government makes decisions that result in
the best allocation of resources, or whether the government produces
inefficiencies, and if so, what they are.
Principles of Microeconomics is a three (3)-credit course. Your final grade for
this course will be based upon a weighted average of the individual grades received
for five (5) graded exercises that include
The value, or weighting, assigned to each of
these five graded exercises is as follows:
|
Assignment |
Percent of Grade |
|
Homework assignments |
10% |
|
Individual economic research project |
30% |
|
Midterm examination |
30% |
|
Final examination |
30% |
|
Total |
100% |
|
Extra Credit: Participation in ten BlackBoard
conferences |
10% |
Below, we discuss each exercise:
1. Homework Assignments (10 percent of final grade)
During the semester a study question will be
assigned from the various chapters. The assignment will be made on Wednesday
and one will have till the next class to complete. The best 10 of this
assignments will be used to compute your grade.
2. Individual economic research project (30 percent of final grade)
This term paper will be evaluated based on
the following three factors:
|
quality of supporting research and
references |
30% |
|
understanding and application of economic
concepts and formulas |
60% |
|
presentation approach, professionalism,
logic, and persuasiveness |
10% |
To receive full credit, you must post your
individual research project to your BlackBoard student assignment folder no
later than midnight on the date listed in the course schedule. Late work will
not be accepted.
The project paper should address a relevant
economic issue, e.g., improving education, environmental regulation, congestion,
universal health care. A one page outline of the issue/problem you will
research and write up is due October 6. I suggest that the following
format be used in developing your paper:
The paper should adhere to the following:
·
Length: your
paper should be 5-10 pages, excluding the title page and references. If the
paper is double-spaced, it should be closer to 10 pages.
·
You must use the
Web and other sources, such as textbooks, journals, newspapers, and so on, for
information. You must use at least five (5) sources, and at least one
must be a Web source.
·
The information
in your textbook on your topic is only a starting point. Your paper must
contain new information on the topic. This is a research paper, not a
repeat of what is in the text.
·
Your paper should
be typed (make it pretty), with a title page, and you must use standard
bibliographic form (use any style guide you like).
·
Footnotes are
required (you may use endnotes instead). If you are using someone else's
thoughts, paraphrase them or put the words in quotes and give the author credit
in a footnote or endnote. If you are caught plagiarizing, you will receive a
zero for the paper. To ensure your paper is not plagiarized submit your paper
to http://www.turnitin.com/
to have it evaluated for similarity. When registering the Class ID is 2353773 and Password: SGRE144. .
·
Because effective
communication is an important component of success in the business world,
papers with poor grammar and spelling will lose credit. Also, late papers will
be reduced by one letter grade.
·
Look at the
course schedule to find the date the term paper topic is due. Knowing your
topic will help me refer you to sources of information. I can also assist you
in narrowing your topic or expanding it where appropriate.
3. Midterm examination (30 percent of final grade)
The midterm
exam will be multiple choice and true/false and explain.
4. Final examination (30 percent of final grade)
The final examination will be comprehensive,
worth 30 percent of your course grade, and will consist of multiple
choice, true/false and explain, and short
economic questions that are designed to test your understanding of the major
microeconomic concepts presented throughout the course. While the exam will be
comprehensive, it will concentrate on the post mid-term material.
You should study for the multiple-choice
questions by answering the chapter assessment questions in the PageOut
Assessment area. This is very important because multiple-choice questions
on economics are very precise.
Extra Credit - Participation in ten conferences (10 percent of final grade)
There will be at least ten (10) BlackBoard conferences
throughout the semester. During the course, I will post specific course-related
economic discussion topics in conference areas entitled Graded Conference 1,
Graded Conference 2, and so on.
These discussion topics will be general in
nature, and will be designed to encourage presentation of opinions and free
dialogue on the course material. I will act as a moderator to keep general
focus. This portion of your coursework provides a good opportunity for you to
enhance your learning and to benefit from the knowledge and opinions of others
in the class.
Credit for the conferences will be determined
by the percentage of conferences in which you participate in a meaningful way
(i.e., you don't just say, "I agree with Joe's comments."). A good
rule of thumb is that each answer should be at least fifty (50) words.
To receive the full credit for participation
in these conferences, you must post the answer to each of my topics
AND a response to at least one other student's comment in each topic
during each conference. Credit will be liberal for this exercise; however,
failure to participate will result in an automatic grade of zero.
As a reminder, you are expected to adhere to
the general rules of online etiquette.
Your final grade for this course will be a
weighted average of your grades on each of the five graded assignments. Each
letter grade has the assigned quantitative value we discussed above.
The grading policy for the course is as
follows:
|
Letter Grade |
Scoring |
|
A |
90-100% |
|
B |
80-89.9% |
|
C |
70-79.9% |
|
D |
60-69.9% |
|
F |
Below 60% |
|
I |
Incomplete. |
The following is an example of the
computation of a student's final grade under this grading system:
|
Graded Exercise |
Weight |
Maximum Points Possible |
Points Received |
Final Grade Contribution |
|
Homework assignments |
10% |
100 |
82 |
8.2
|
|
Individual economic research project |
30% |
100 |
85 |
25.5 |
|
Midterm examination |
30% |
100 |
76 |
22.8 |
|
Comprehensive final examination |
30% |
100 |
82 |
24.6 |
|
Total points |
100% |
|
|
|
|
Course Grade |
|
|
|
81.1% = B |
All final grades will be rounded to one
decimal point (note that the final course grade for this hypothetical student
is 80.5%, which is a B).
Note: Failure to take an exam or to
submit a graded exercise will result in grade of zero for that exercise.
Students are expected to take all exams when
scheduled. In the event of illness or extraordinary circumstances, the
student must contact the faculty member and provide documentation to
request an exception and approval to take a makeup exam. If the request
is not approved, the exam grade will be recorded as a zero.
Regular attendance is expected. Frequent exposure to an
instructor's explanations is an important factor in your ability to master the
material covered. Although you will not be penalized for missing class (you are
hurting yourself by cutting), current events used in class to illustrate
course-work will be included in test questions.
Scholastic
Dishonesty
Acts prohibited by the college for which discipline may
be administered include scholastic dishonesty. Scholastic dishonesty includes
but is not limited to cheating on an exam or quiz, plagiarizing, and
unauthorized collaboration with another in preparing outside work. Academic
work submitted by you is to be the result of your own 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.
Penalties for scholastic dishonesty in this class can
range from being assigned a zero grade for an assignment on which dishonesty
took place to being dropped from this class with a failing grade for cheating
on exams. If the latter occurs, then the
incident and the student will be reported to the Dean of Students. Further
repercussions could follow from the Dean.
Each
ACC campus offers support services for students with documented physical or
psychological disabilities. Students
with disabilities must request 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 do this three weeks before the start of
the semester. During the first or second week of class, students with
disabilities must present the instructor with the sheet from the Office for
Students with Disabilities listing the reasonable accommodations they require.
Blackboard is an on-line classroom management tool. It
includes a grade book, a discussion board, ways to communicate between students
and between students and professor, and a testing facility. Your Online Login
username and password is your 7-digit ACC student ID number.
Please change your password
while you are logged on for the first time. To change your password, click the
"User Tools" button. When that page opens up, click on the line that
says "Personal Information." When that page opens up, click on the
line that says "Change Password." The rest should be
self-explanatory. It is important to change your password so that you can be
secure in the knowledge that no one besides your instructors can see your grade
information. Even then, each instructor will only be able to see the grades in
the course they are teaching.
|
Week |
Readings/Assignments |
Due Date |
|
1 |
Class
Introduction
Introduce yourself in the Introduction
Conference in BlackBoard Optional Assignments:: |
|
|
2 |
The Market System and the Circular Flow
Optional Assignments Do the Chapter 2 assessment in the
PageOut/Course Content by clicking on the |
|
|
3 |
Individual Markets: Demand and Supply
Optional Assignments: Do the Chapter 3 and 6 assessments in
the PageOut/Course Content by clicking on the |
|
|
4 |
The
McConnell
& Brue: Chapter 5 Optional Assignments: Do
the Chapter 4 and 5 assessments in the PageOut/Course
Content by clicking on the Topic of your research project should be posted in the Paper Topic
Conference. This should be a paragraph or two. In your assignments folder
there is a paper topic assignment. Please post your 1 page write-up there for
my review. You have till October 6 to complete. |
|
|
5 |
Cost of Production
Optional Assignments: Do the Chapter 8 assessment in the
PageOut/Course Content by clicking on the |
|
|
6 |
Pure
Competition Pure
Monopoly
Optional Assignments: Do the
Chapter 9 and 10 assessments in the PageOut/Course Content by
clicking on the |
|
|
7 |
Monopolistic Competition and Oligopoly
Do the Chapter 11 and Chapter
12 assessments in the PageOut/Course Content by clicking on the |
|
|
8 |
Midterm examination |
|
|
9 |
The Demand for Resources
Optional Assignments: Do the Chapter 13 assessment in the
PageOut/Course Content by clicking on the |
|
|
10 |
Wage
Determination
Optional Assignments: Do the Chapter 14 and
15 assessments in the PageOut/Course Content by clicking on the |
|
|
11 |
Government
and Market Failure
Optional Assignments: Do the Chapter 16 and 17 assessments
in the PageOut/Course Content by clicking on the |
|
|
12 |
Income
Inequality and Poverty
Optional Assignments: Do the Chapter 20 assessment in
the PageOut/Course Content by clicking on the |
|
|
13 |
The
Economics of Health Care
Do
the Chapter 21 assessment in the PageOut/Course Content by
clicking on the |
|
|
14 |
International Trade
McConnell
& Brue: Chapter 24 Optional Assignments: Do the Chapter 23 and 24 assessment in
the PageOut/Course Content by clicking on the |
|
|
15 |
Paper Discussion Assignments |
|
|
16 |
Final examination The
exam covers all course material in chapters 1-24. Focus on post mid-term
material. |
|