COURSE SYLLABUS

PRINCIPLES OF MICROECONOMICS

ECON 2302

SPRING 2012

 

ECON 2302   48708  Lec 005

 

PROFESSOR:         John U. Miller, Ph.D.

OFFICE HOURS:    30 minutes before and after each class

HOME PHONE:       (830) 981-8675  (Recorder available)

E-MAIL:                     johnmillerut@aol.com (personal email)

                                    jmiller3@austincc.edu (ACC email)

CLASS TIME            Wednesday, 6:00-9:30 p.m.

 

Course Description:

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.

 

Course Rationale:

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.

 

Course Requirements:

The instructional methodology will be lecture and class discussion.

The quality and quantity of each student’s work will determine her or his final grade.  To gain the most benefit from this course, you must be prepared for class participation and tests. Plan to devote as many hours as is necessary to insure your ability to accomplish this goal.  Assignments for reading/study are to be completed prior to each class meeting.  Students are expected to actively contribute to the instructor-guided discussions.

 

 

 

 

 

Common Course Objectives/Student 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.

 

Course Objectives:

This course will provide the student with an exploration of topics in microeconomics at a general level.  The outcomes of this course are for the student to:

a.    Gain an understanding of microeconomics.

b.    Understand how decisions are made by individual consumers and corporations using an economic perspective which considers elements such as the objectives of the decision-maker, the constraints to decision-making, and how choices are made.

c.    Identify and analytically evaluate the elements of economic decision-making including marginal utility analysis and elasticity.

d.    Enhance communication skills by providing opportunities for the exercise of both oral and written communication in the discussion of microeconomics.

 

Course Attendance:

Regular attendance is expected.  Exposure to an instructor’s explanations is an important factor in a student’s ability to master the material covered.  Students who attend regularly will be awarded extra credit points.  These extra credit points could be approximately 5% of the course grade.  If a student misses more than 2 classes, these extra credit points could be instead deducted from your overall grade.

 

Students are responsible for withdrawing themselves from the course if that is what their personal situation requires.  If you do not complete all of the elements of the course (3 exams and answers to all topical questions) or withdraw from the course yourself, then you will receive an Incomplete (I) in the course. The instructor makes no promise either implicit or explicit to withdraw students from the course.

 

The last day to withdraw from the course without penalty is

Friday, February 10th, 2012.

 

 

In addition, students should be aware of a change in the law regarding Withdrawals, passed by the Texas Legislature in the spring of 2007. Starting in the Fall Semester of 2007, entering freshmen are restricted to six no-punitive withdrawals for the whole of their undergraduate careers while attending state colleges.

 

“A student at ACC is expected to attend classes in order to progress satisfactorily toward completion of course objectives.   The instructor shall inform students of specific course objectives at the first class meeting.  A student who is not meeting course objectives may be WITHDRAWN from the course at the discretion of the instructor.”

 

General Information:

Each student is expected to attend all classes.  Please inform the instructor in advance if you are unable to attend. Students who are discovered cheating, committing plagiarism, or violating ACC’s policies covering academic dishonesty will be awarded a failing grade for the course and may be subject to dismissal or further discipline.  Academic integrity is expected. 

 

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, and 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.

 

Students with Disabilities:

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 do this three weeks before the start of the semester.

 

 

 

 

 

 

 

 

 

Required Text:

            Microeconomics. Roger A. Arnold, Tenth Edition, 2011.   

           South-Western College Publishing

 

Supplemental Readings:

            Additional materials may be handed out in class to supplement the

discussion of certain topics.

 

Course Grading:                                         % of Grade

            Examinations (3)                                   75%

            Answers to Topical Questions          15%

            Class Participation                               10%

                                                                             100%

 

*NOTE: All elements (3 exams and answers to topical questions) are to be completed and turned in by the last class, or a grade of Incomplete (I) will be given until every item is turned in.

 

Grading Standards:

The final letter grade will be based on the final average earned on all above criteria.  A(90%-100%); B(80%-89%); C(70%-79%); D(60%-69%);

F(Below 60%).  Incompletes will only be granted with the instructor’s approval and subject to the requirements of Austin Community College.

 

Class Participation:

Student participation includes demonstrating interest and preparation for class by asking questions and volunteering answers to questions posed during class discussions.  This is an opportunity to speak out and try new ideas in a supportive environment.  The success of this course depends on you and your preparation.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

MICROECONOMICS

ECON 2302

SPRING 2012

 

CLASS SCHEDULE

 

Class                Date                                                Topic

 

    1                  February 15th                      Course Introduction and Overview

                                                                        Chapter 1. What Economics is About

                                                                        Appendix A: Working with Diagrams

 

2                        February 22nd                    Chapter 2

Chapter 3

 

    3                  February 29th                      Chapter 5

                                                                        Chapter 6

 

4                  March 7th                             Chapter 7

                                                                        Chapter 8

 

                        March 14th                           Spring Break - No class

  

    5                  March 21st                           Exam I (Chapters 1,2,3,5,6)

                                                                        Chapter 9

  

 

 6                 March 28th                             Chapter 10

Chapter 11

 

 7                 April 4th                                Chapter 13

 

     8                 April 11th                              Chapter 14

 

     9                 April 18th                              Exam II (Chapters 7 thru 11)

                                                                        Chapter 15

 

10                April  25th                             Chapter 16              

                                                           

   11                May 2th                                 Chapter 17

Chapter 18

 

    12                May 9th                                 Exam III (Chapters 13,14,15,16,17,18)

 

NOTE:  This syllabus may be altered in the event of extenuating circumstances.