Fall 2018 Course Syllabus
Course: ECON-2302- Section: 01
Principles of Microeconomics
LSCPA Logo Image
Instructor Information
Instructor Kara Booth
Phone(409) 984-6424
Hours:by appointment
Business and Technology
Chair:Sheila Guillot
Phone:(409) 984-6381
Course Information
Description Analysis of the behavior of individual economic agents, including consumer behavior and demand, producer behavior and supply, price and output decisions by firms under various market structures, factor markets, market failures, and international trade.
Prerequisites TSI complete in Reading
Learning Outcomes 1.    Explain the role of scarcity, specialization, opportunity cost and cost/benefit analysis in economic decision-making.
2.    Identify the determinants of supply and demand; demonstrate the impact in shifts in both market supply and demand curves on equilibrium price and output.
3.    Summarize the law of diminishing marginal utility; describe the process of utility maximization.
4.    Calculate supply and demand elasticities, identify the determinants of price elasticity of demand and supply, and demonstrate the relationship between elasticity and total revenue.
5.    Describe the production function and the Law of Diminishing Marginal Productivity; calculate and graph short-run and long-run costs of production.
6.    Identify the four market structures by characteristics; calculate and graph the profit maximizing price and quantity in the output markets by the use of marginal analysis.
7.    Determine the profit maximizing price and quantity of resources in factor markets under perfect and imperfect competition by the use of marginal analysis.
8.    Describe governmental efforts to address market failure such as monopoly power, externalities, and public goods.
9.    Identify the benefits of free trade using the concept of comparative advantage.
Core Objectives * Communication skills: Students will demonstrate effective written, oral and visual communication.
* Critical Thinking Skills: Students will engage in creative and/or innovative thinking, and/or inquiry, analysis, evaluation, synthesis of information, organizing concepts and constructing solutions.
* Empirical and Quantitative Skills: Students will demonstrate applications of scientific and mathematical concepts.
* Social Responsibility: Students will demonstrate intercultural competency and civic knowledge by engaging effectively in local, regional, national and/or global communities.
Program Student Learning Outcomes
Textbooks ECON-Micro4, McEachern, 4th Edition, Cengage Learning
    ISBN-10: 1285423542
    ISBN-13: 9781285423548
Lecture Topics
A.    The Art and Science of Economic Analysis
B.    Economic Tools and Economic Systems.
C.    Economic Decision Makers.
D.    Demand, Supply, and Markets.
A.    Elasticity of Demand and Supply.
B.    Consumer Choice and Demand.
C.    Production and Cost in the Firm.
A.    Perfect Competition.
B.    Monopoly.
C.    Monopolistic Competition and Oligopoly.
A.    Resource Markets.
B.    Labor Markets and Labor Unions.
C.    Capital, Interest, and Corporate Finance.
D.    Transaction Costs, Imperfect Information, and Market Behavior
A.    Economic Regulation and Antitrust Policy.
B.    Public Goods and Public Choice.
C.    Externalities and the Environment.
D.    Income Distribution and Poverty.
A.    International Trade.
B.    International Finance.
C.    Developing and Transitional Economies.
Major Assignments
Week    Chapter    Description of Topic    
1    1    Introduction to Economics; Chapter 1
2    2    Economic Tools and Systems; Chapter 2     
3    3    Economic Decision Making; Chapter 3
4    4    Supply and Demand;Chapter 4
5        First Exam (Chapters 1 – 4)    
6    5    Elasticity; Chapter 5     
7    6    Consumer Choices; Chapter 6    
8    7    Production and Costs; Chapter 7
9    8    Perfect Competition; Chapter 8
10    9    Monopoly; Chapter 9
11    10    Monopolistic Competition and Oligopoly; Chapter 10 & Unit 2 Exam (Chapters 5-10)    
12    15    Economic Regulation and Antitrust Policy; Chapter 15
13    16    Public Goods and Public Choice; Chapter 16    
14    17    Externalities and the Environment; Chapter 17
15    19    International Trade; Chapter 19
16        Final Exam; Chapters 1-10, 15,16, 17, 19    
Final Exam Date December 7, 2018 - 9:00 AM
Grading Scale  90 - 100=A    80 - 89=B    70 - 79=C     60 - 69=D    Below 59 = F
Determination of
Final Grade
Unit Assignments             15%
Weekly Participation/Attendance 5%
Unit #1 Exam                  20%
Unit #2 Exam                 20%
Final Exam                 20%
Course Paper                 20%
Course Policies
Instructor Policies Exams    
Dates for exams will be announced several class periods before it is to be given. The exams will be limited to regular class time. Make-up exams will NOT be given. Missed exams will receive a score of zero. Cheating on exams is not acceptable and will be subject to violations of the Academic Dishonesty policy.
Each exam counts for 20 percent of your final grade. The Final exam is a course requirement. Failure to take the Final exam will result in a failing course grade.
There will be 4 Unit assignments, one for each of the three units plus an overall assignment. Dates for unit assignments will be announced several class periods before it is to be given. There will be no makeups for missed assignments. Missed assignments will receive a score of zero. These assignments are part of your course grade. They are not simply “busy work” or “just something to do.” Combined, these four unit assignments will account for 15 percent of your final grade.
Research Paper    
You will be required to submit a formal research paper. The research paper is due on the date listed on the Course Calendar, in the Task List, and on the Research Project page. Required content, proper format, adequate research, and correct citations are required. A grading matrix, outline, and guidelines are provided on the Research Project page. Plagiarism will not be tolerated and will be subject to violations of academic dishonesty.
The opportunity to submit a rough draft to be graded and returned with suggestions is provided. The Research Paper is 20 percent of your final grade. Please note that the research paper is a course requirement. Failure to submit a paper will result in a failing course grade.
Use of Instructional Materials    
Instructional materials, such as PowerPoints and concept videos, are provided in Blackboard for each chapter. These will be useful in understanding concepts as presented in the chapters.
Make-Up/Late work    
Exams, assignments, the rough draft, and the final research paper are due on the dates as announced in class. There will be no make-up exams. Late assignments will not be accepted. Late research papers will not be accepted.
Attendance Policy Weekly Participation/Attendance
To be successful in this course, regular attendance is necessary and required. Everyone is encouraged to participate in class discussions. Participation in discussions will enrich your learning experience and is worth 5 percent of your final grade.
Academic Honesty Academic honesty is expected from all students, and dishonesty in any form will not be tolerated. Please consult the LSC-PA policies (Section IX, subsection A, in the Faculty Handbook) for consequences of academic dishonesty.
Facility Policies
  1. No food or tobacco products are allowed in the classroom.

  2. Only students enrolled in the course are allowed in the classroom, except by special instructor permission.

  3. Use of electronic devices is prohibited.
Important Information
ADA Considerations The Americans with Disabilities Act (ADA) is a federal anti-discrimination statute that provides comprehensive civil rights for persons with disabilities. Among other things, this legislation requires that all students with disabilities be guaranteed a learning environment that provides for reasonable accommodation of their disabilities. If you believe you have a disability requiring an accommodation, please contact the Special Populations Coordinator, Room 231, in the Madison Monroe Building. The phone number is (409) 984-6241.
MyLamarPA Be sure to check your campus E-mail and Course Homepage using MyLamarPA campus web portal (My.LamarPA.edu). When you've logged in, click the email icon in the upper right-hand corner to check email, or click on the "My Courses" tab to get to your Course Homepage. Click the link to your course and review the information presented. It is important that you check your email and Course Homepage regularly. You can also access your grades, transcripts, and determine who your academic advisor is by using MyLamarPA.
Other Response Time Policy    
Exams and unit assignments will be graded no later than 10 days after the due date. Rough drafts and Final Research papers will usually be graded within two weeks of the due date. Emails will generally be answered within 24 hours. A quicker response can usually be made if you email me at kbooth@lit.edu rather than using the email within Blackboard.
Incomplete Grades    
It is my policy to NOT give incompletes as a final course grade. Work must be submitted by the dates assigned.
Withdrawing from the course    
It is the responsibility of the student to properly withdraw from the course. The withdraw process will not be initiated by the instructor.
HB 2504 This syllabus is part of LSC-PA's efforts to comply with Texas House Bill 2504.