Microeconomics 2302
Professor: Marianna Sidoryanskaya
Section 21431 OFFICE HOURS:
NRG,
2120
Spring, 2005 M,
W,
By
appointment if needed.
E-mail: msidorya@austincc.edu
Ph. 223-2093
Course Description: The objective of this course is to teach students how to translate the predictions that come out of economic models to the real world and to translate real-world events into an economic model in order to understand what lies behind the event. 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 course.
Course
Objectives:
Students who complete this course will be able to
understand:
EVALUATION:
Student performance will be based upon:
¨
EXAMS: 2 exams, each worth 100 points.
¨
RETESTING: None, but you get an
optional final
¨
QUIZZES: Three quizzes, each quiz
worth 10 points
ATTENDANCE: Each student starts with 30 points; each absence counts 2 points regardless of reason; extra points sometimes given for attendance at instructor’s discretion.
GRADING:
Final letter grades will be distributed according to the following scale:
Letter Grade |
Points |
|
A |
200 and above |
|
B |
180-199 |
|
C |
160-179 |
|
D |
140-159 |
|
F |
139-0 |
|
INCOMPLETES: Incompletes are discouraged. They will be given only when extraordinary events intervene so as to make completion of the course impossible. If you want an incomplete, these events must be documented. To receive an incomplete the student must have completed the first exam and quiz with a C or better. The student must also come by my office to fill out an incomplete form. If the form is not filled out, an incomplete grade will not be given. Incompletes will not be given to students who are behind schedule when the semester nears its end. Nor will incompletes be given to students who need just a few more points to make the next higher letter grade. Plenty of opportunity exists during the semester to accomplish your goals.
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.
WITHDRAWALS: This is a STUDENT responsibility. Students are
responsible for withdrawing themselves from this course if that is what their
personal situation requires. This means that if you have taken no tests or only
a few of the tests and the semester ends without you having withdrawn yourself,
then you will receive an F in the course. The instructor makes no promise
either implicit or explicit to withdraw students from the course. However, the
instructor does reserve the right to withdraw students if the instructor
believes the situation warrants such action. For example, if a student misses
more than ten classes, the instructor can unilaterally initiate a
student withdrawal.
The last day to withdraw from this course without penalty is Monday,
April 18..
Instructional Methodology:
lecture, lecture/discussion
TEXT: Roger A Arnold,
Microeconomics, 6th Edition,
10 |
An
Introduction to Economics: What Economics is about? (Chapter 1/1) |
12 |
Economists
Build and Test Theories (chapter 1) |
14 |
Working
with Diagrams (appendix A) |
17 |
The
Production Possibilities Frontiers (chapter 2) Economic
Questions and Economic Systems (chapter 2 ) |
19 |
Economic
Questions and Economic Systems (chapter 2 ) |
21 |
Exchange
or Trade (chapter 2) |
24 |
Demand
(chapter 3) |
26 |
Supply (chapter 3) |
28 |
The
Market: Putting Supply and Demand Together (chapter 3) |
31 |
Supply
and Demand: Practice (chapter 4) |
February |
|
2 |
Supply
and Demand: Practice ( chapter 4 ) |
4 |
Elasticity
(chapter 5) |
7 |
Elasticity
(chapter 5) |
9 |
QUIZ 1,Utility Theory (chapter 6) |
11 |
Consumer
Equilibrium and Demand (chapter 6) |
14 |
Behavioral Economics ( chapter 6) |
16 |
The
Firm (chapter 7) |
18 |
Types
of Business Firms (chapter 7) |
21 |
Review
for Exam 1 |
23 |
Review
for Exam 1 |
25 |
EXAM 1
|
28 |
All About Costs (chapter 8)
|
March |
|
2 |
Production
and Cost in the Short Run (chapter 8) |
4 |
Production
and Cost in the Long Run (chapter 8) |
7 |
Shifts
in the Cost Curves (chapter 8) |
9 |
The
Theory of Perfect Competition (chapter 9) |
11 |
Perfect
Competition in the Short Run (chapter 9) |
21 |
Perfect
Competition in the Long Run (chapter 9) |
23 |
Productive
Efficiency (9) |
25 |
QUIZ 2, The Theory of Monopoly
(chapter 10) |
28 |
Monopoly
Pricing and Output Decisions (chapter 10) |
30 |
The
Theory of Monopolistic Competition
(chapter 11) |
April |
|
1 |
Oligopoly,
Game Theory (chapter 11) |
4 |
Factor
Markets (chapter 13) |
6 |
The
Labor Market (chapter 13) |
8 |
Wages,
Unions, and Labor (chapter 14) |
11 |
Wages,
Unions, and Labor (chapter 14) |
13 |
QUIZ 3, The Distribution of Income
(chapter 15) |
15 |
Poverty
(chapter 15) |
18 |
Interest,
Rent, Profit (chapter 16) |
20 |
Market
Failure: Externalities, the Environment (chapter 17) |
22 |
Public
Goods (chapter 17) |
25 |
Review
for Exam 2 |
27 |
Review
for Exam 2 |
29 |
EXAM 2
|
May |
|
2 |
Grade
Check And Review For Optional Final |
4 |
OPTIONAL FINAL
EXAM
|
6 Grade Check