AUSTIN COMMUNITY
COLLEGE
PRINCIPLES OF
MICROECONOMICS
ECONOMICS 2302
FALL SEMESTER,
2007
INSTRUCTOR: DR. CHARLES AKI
______________________________________________________________________________
COURSE GUIDE
CLASS SCHEDULE AND OFFICE HOURS
06541, ECONOMICS 2302
OFFICE HOURS: MONDAY, 5:30 PM – 6:30 PM
OFFICE: Room 2224, CYP CAMPUS, TEL: 461-9477;
E-MAIL: charlesaki@yahoo.com
TEXTBOOK: PRINCIPLES
OF MICROECONOMICS
BY
N. GREGORY MANKIW, 4th Edition
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.
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.
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.
CLASS PROCEDURE
The class schedule is attached. In the schedule you will find the required reading in the textbook for each week. Read the material before each class time. You are required to submit an outline of each period's required reading every Thursday. You will earn 10 points for each outline that is properly turned in. All 8 outlines will yield a total of 80 points, equivalent to 8 percent of the course grade. There will be one mid-term exam (worth 400 points) and a final exam (worth 400 points). To help you review for these exams, there will be two quizzes, each worth 60 points, for a total of 120 points.
ATTENDANCE
You are required to adhere strictly to all college requirements for attendance. Serious absences, excused or not, are grounds for withdrawal. All absences must be cleared with me.
GRADING POLICY
Please refer to the Student Handbook for complete grading system. I will assign grades of A, B, C, D, I or F in this course. The following scales and weights will be applied:
GRADE SCALE POINTS WEIGHTS
A = 90 - 100 MID-TERM EXAM 400 (40%)
B = 80 - 89 FINAL EXAM 400 (40%)
C = 70 - 79 WEEKLY OUTLINES 80 ( 8%)
D = 60 - 69 REVIEW QUIZZES 120 (12%)
F = Below 60 TOTAL 1000 (100%)
AUSTIN COMMUNITY COLLEGE
PRINCIPLES OF
MICROECONOMICS
ECONOMICS 2302
FALL SEMESTER,
2007
INSTRUCTOR: DR.
CHARLES AKI
________________________________________________________________________
COURSE SCHEDULE
DATE TOPIC MATERIAL
________________________________________________________________________
AUG 30 The
Principles of CHAPTER
1
Economics
SEPT 6 Thinking
Like An CHAPTER
2
Economist
SEPT 13 – SEPT 20 Interdependence
and CHAPTER
3
The
Gains from Trade
Market
Forces of CHAPTER
4
Supply
and Demand
SEPT 27 – OCT 4 Elasticity
& Its CHAP
5
Applications
Supply, Demand
& Government
Policies CHAP
6
OCT 4 Review
Quiz
OCT 11 Review
for Mid-Term Exam
OCTOBER 18 MID-TERM
EXAM (CH
1 - 6)
OCT 25 – NOV 1 The Costs of Production CHAP 13
Firms in Competitive
Markets CHAP
14
NOV 8 Monopoly CHAP
15
NOV 15 Oligopoly CHAP
16
Monopolistic
Competition CHAP
17
NOV 22 (Thanksgiving
Holiday – No Class)
NOV 29 Markets
for Factors CHAP
18
Of
Production
The
Theory of Consumer Choice CHAP
21
NOV 29 Final
Review Quiz
DECEMBER 6 Review
for Final Exam
DECEMBER 13 FINAL
EXAM (CHAP 13 – 18, & 21)