INSTRUCTOR: MICHAEL C. PETROWSKY
Associate
Professor of Economics
SOCIAL & BEHAVIORAL SCIENCES
OFFICE: ROOM 4259 (NORTHRIDGE CAMPUS)
TELEPHONE: 512 - 223 - 4044
EMAIL:
OFFICE
HOURS: Monday/Wed: 11:00 AM – 12:00 PM (Round Rock) Rm. 259
Tues/Thurs: 11:00 AM – 12:00 PM (Round Rock) Rm. 259
Mon/Wed: 5:30 PM – 6:00 PM (
NOTE: Conferences outside of office hours can be
arranged.
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 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 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. The course also provides a foundation that will prepare students to be
successful in upper division finance, marketing, business administration, economics,
government, and social work courses.
INSTRUCTOR PHILOSOPHY:
1. State and local governments are the customer.
2. Merit based. Grades are earned by the student, not given by the instructor.
3. Attendance is expected since the course is heavily subsidized by state and county
tax dollars.
4. Economics is important!
5. With proper focus and discipline, everyone can master economic principles.
INSTRUCTIONAL METHODOLOGY:
Principally lecture/discussion, with
Socratic underpinnings. Some films may be shown; some emphasis on
problems/applications and current events. Some group work.
HOW TO BEST USE YOUR INSTRUCTOR:
1. Identify those specific areas in the text and/or lectures you find confusing.
2. Bring those items to me for assistance. Your office visit is welcomed!
REQUIRED TEXTBOOKS AND MATERIALS:
1. The Microeconomy Today, by Bradley Schiller. Eleventh Edition.
2. Five scantron sheets. (882-E). Available in bookstore. No.2 pencil, eraser.
RECOMMENDED MATERIALS:
1. Two or three colored pencils and a ruler.
2. MICROECONOMICS, Bar Chart, Academic Outline
3. Barron’s EZ-101 Study Keys; Cliffs Quick Review; REA Super Review
4. STUDY GUIDE FOR THE TEXT. HIGHLY RECOMMENDED. OR,
5. Self tests on web page should be used.
There are five in class unit exams in the course. Each exam will consist of approximately 35 multiple choice questions, will take approximately 75 minutes, and will be based on class and textbook material. Because of this, class attendance is critical for successful course completion. Exams are open book, open note.
* First Exam: Chapters 1-2
* Second Exam Chapters 3-4
* Third Exam: Chapters 5, 6
* Fourth Exam: Chapters 7, 8
* Fifth Exam: Chapters 9, 10, 11
Students must take at least four exams in order to receive a grade for the course. One of these four exams must be the fifth exam. If students take five exams, the lowest score on one of the exams will be dropped. Because of this, no make up exams are given and no retakes are allowed. In addition, THERE IS NO EXTRA CREDIT WORK IN THIS COURSE. During exam periods, all electronic devices, including cell phones, are to be put away. Students will be given at least a week's notice before an exam is given.
ATTENDANCE POLICY
Class attendance is expected and roll will be taken. You are allowed three absences for this course. One absence in excess of this amount will result in a five percent grade reduction for the course. (If you had a term average of 80, it will be reduced to 75.) Two absences in excess of three absences will result in a final letter grade reduction for the course. A telephone call or an email is not an excused absence. Students are also expected to be on time for class. Students that are chronically late may be asked to either withdraw from the class or to make other arrangements.
FINAL EXAM DATE
The final exam for this course is scheduled for Tuesday, July 7th. THERE ARE NO
EXCEPTIONS.
Office for Students with Disabilities
Every reasonable effort will be made to accommodate disabled students. 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.
MAKE UP EXAMS
As previously indicated, there are no make up exams in this course because only four exam scores will be counted in the final grade in addition to the assigned problems. No retakes are allowed.
TUTORING
Each ACC campus has Learning Labs along with tutoring. Students are encouraged to use this service.
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 including problems and practice sets.
WITHDRAWALS
If you decide to drop the class, remember that it is
necessary forms with the Registrar. Failure to do this could
result in
failing grade for the course. If you wish me to withdraw you from the class, I will
require a written note to that effect. New, Incoming Students: Please be aware of
the new state requirement governing withdrawals.
SYLLABUS REVISION
Every attempt will be made to follow the course outline and requirements. Should time be a problem, some material and requirements may be omitted.
CLASSWORK
1. The assignments for the entire semester are indicated on the “Course Outline.” You should complete the study of the assigned material before coming to class.
2. It is suggested that you read each chapter three times. Assignments assume a minimum of 9 to 12 hours of preparation per week.
3. Many
of
4. See
the attachment, “12 Things You Can Do To Successfully Complete this Economics
Principles Course.”
GRADING SCALE AND SYSTEM*
TASK POINTS
Four Unit Exams, 100 Points Each 400
TOTAL POSSIBLE POINTS EQUALS 500 points
POINTS EARNED GRADE PERCENTILE
368 to 400 A 92 -100
328 to 367 B 82 – 91.99
272 to 327 C 68 – 79.99
224 to 271 D 56 – 67.99
Below 223 F
*NOTE: These grading scales will be strictly implemented. There is no extra credit.
COURSE
OUTLINE
Week Beginning Assignment Topic
June 1 Chapter 1 Definition of Economics
Chapter 2 Production Possibilities
Chapter 3 Demand & Supply
Chapter 3 Demand & Supply
Chapter 4 Efficiency, Market Failure
June 8 Chapter 5 Elasticity
Chapter 5 Utility Theory
Chapter 6 Cost of Production
Chapter 6 Cost of Production
June 15 Chapter 7 The Competitive Firm
Chapter 8 Competitive Markets
June 22 Chapter 9 Monopoly
Chapter 10 Oligopoly
June 29 Chapter 11 Monopolistic Competition
Chapter 12 Antitrust, Regulatory Issues
July 7 Fifth Exam Last Class
·
For those students who need their final grade
quickly: On final exam day, if you give me a stamped, self-addressed postcard,
I will send
· The Fifth Exam is final – there are no retakes under any circumstances.
Michael C. Petrowsky
Faculty, Economics
STUDENT
CONTRACT – ECONOMICS 2302
I have received the syllabus for the course Principles of Microeconomics. Course
requirements were explained. The instructor also explained the requirements concerning
attendance, class participation, makeup exams, and course reading obligations. I
understand that my successful completion of this course (that is, an A or B grade) will
normally require consistent, timely, classroom attendance as well as a minimum of 9 to
12 hours of preparation per week. I understand the time requirements for this course, and I
have completed the "Time and Academic Demands Schedule," with the understanding that
work and other outside obligations are not an excuse. I further understand that excessive
absence, lateness, and scholastic dishonesty can result in the instructor withdrawing me
from the class or in my receiving a failing (‘F) grade for the course.
I understand that the fifth exam is required, and that it is scheduled for July 7th.
_____________________ _______________
Printed Student Name DATE
_____________________
Signature
_____________________ _________________
Section TIME
STUDENT RECORD FOR ECONOMICS 2302
SECOND EXAM _________________
THIRD EXAM _________________
FOURTH EXAM _________________
FIFTH EXAM ____________________
TOTAL POINTS*** ____________
NOTE: It is the student’s responsibility to keep test and homework records for
for the duration of the course.
*** Points will be reduced if attendance requirements are not met.