Fall 2020 Course Syllabus
Course: ECON-2302- Section: 72N
Principles of Microeconomics
|COVID 19 Information||The Lamar State College Port Arthur (LSCPA) Student Code of Conduct COVID 19 Policy requires students who have been exposed to COVID 19 or diagnosed with COVID 19 to report their condition on the COVID 19 Notification Form (available via a link on the Student Code of Conduct COVID19 webpage). This information will be provided to the Dean of Student Services. In addition, this policy requires all students to wear face coverings in compliance with the criteria included in the policy. For more information please refer to the COVID 19 link on the LSCPA website.|
|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|
Upon successful completion of this course, students will:
CSLO 1. Explain the role of scarcity, specialization, opportunity cost and cost/benefit analysis in economic decision-making. (PSLO A measured by exams.)
CLSO 2. Identify the determinants of supply and demand; demonstrate the impact of shifts in both market supply and demand curves on equilibrium price and output. (PSLO 1 measured by exams.)
CLSO 3. Summarize the law of diminishing marginal utility; describe the process of utility
maximization. (PSLO 2 measured by exams.)
CLSO 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. (PSLO 3 measured by exams.)
CLSO 5. Describe the production function and the Law of Diminishing Marginal Productivity;calculate and graph short-run and long-run costs of production. (PSLO 2 measured by exams.)
CSLO 6. Identify the four market structures by characteristics; calculate and graph the profit maximizing price and quantity in the output markets by use of marginal analysis. (PSLO 3 measured by exams.)
CLSO 7. Determine the profit maximizing price and quantity of resources in factor markets under perfect and imperfect competition by use of marginal analysis. (PLSO 3 measured by exams.)
CLSO 8. Describe governmental efforts to address market failure such as monopoly power, externalities, and public goods. ( PLSO 2 measured by exams.)
CLSO 9. Identify the benefits of free trade using the concept of comparative advantage. (PLSO 1 measured by exams.)
|Program Student Learning Outcomes||
PSLO ALPHA: Reading skills - Demonstrates comprehension of content-area reading material.
PSLO 1: Critical Thinking Skills Uses creative thinking, innovation, inquiry and analysis,
evaluation and synthesis of information.
PSLO 2: Communication Skills- Demonstrates effective development, interpretation and expression of ideas through written, oral and/or visual communication
PSLO 3: Empirical and Quantitative Skills - Applies the manipulation and/or analysis of numerical data or observable facts resulting in informed conclusions.
PSLO 5: Social Responsibility Skills - Expresses intercultural competence, knowledge of civic responsibility, and the ability to engage effectively in regional, national, and global communities.
Textbook Purchasing Statement: A student attending Lamar State College Port Arthur is not under any obligation to purchase a textbook from the college-affiliated bookstore. The same textbook may also be available from an independent retailer, including an online retailer.
Good news: your textbook for this class is available for free online, in web view and PDF format! You can also purchase a print version, if you prefer, via the campus bookstore or from OpenStax on Amazon.com.
You can use whichever formats you want. Web view is recommended -- the responsive design works seamlessly on any device. If you buy on Amazon, make sure you use the link on your book page on openstax.org so you get the official OpenStax print version. (Simple printouts sold by third parties on Amazon are not verifiable and not as high-quality.)
Principles of Microeconomics 2e from OpenStax, Print ISBN 1947172344, Digital ISBN 1947172352,
|No late work.|
Week 1 and 2: Module 1: Welcome to Economics!, Choice in a World of Scarcity; Chapters 1-2 of Principles of Microeconomics 2e from OpenStax, discussion board, homework
Week 3 and 4 Module 2: Demand and Supply, Labor and Financial Markets; Chapters 3-4 of Principles of Microeconomics 2e from OpenStax, discussion board, homework
Week 5 and 6: Elasticity, Consumer Choices, Chapters 5-6 of Principles of Microeconomics 2e from OpenStax, discussion board, homework
Week 7 and 8: Production, Costs, and Industry Structure, Perfect Competition, Chapters 7-8 of Principles of Microeconomics 2e from OpenStax, discussion board, homework
Week 9 and 10: Module 5: Monopoly,Monopolistic Competition and Oligopoly, Chapters 9-10 of Principles of Microeconomics 2e from OpenStax, discussion board, homework
Week 11 and 12: Module 6: Monopoly and Antitrust Policy, Environmental Protection and Negative Externalities, Chapters 11-12 of Principles of Microeconomics 2e from OpenStax, discussion board, homework
Week 13 and 14: Module 7: Positive Externalities and Public Goods, Labor Markets and Income, Chapters 13-14 of Principles of Microeconomics 2e from OpenStax, discussion board, homework
Final Exam Essay: Answering the course learning objectives in essay format.
|Final Exam Date||December 7, 2020 - 12:00 AM Through December 7, 2020 - 11:00 PM|
|Grading Scale||90 - 100=A 80 - 89=B 70 - 79=C 60 - 69=D Below 59 = F|
|Homework-60%, Discussions-20% Final Exam Essay, 20%|
|Instructor Policies||No late work.|
|Attendance Policy||Research has shown a cause and effect relationship between attendance and college success. Students that have not logged in for 2 weeks may be dropped from the course.|
|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.|
|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 the Office for Disability Services Coordinator, Room 231, in the Madison Monroe Building. The phone number is (409) 984-6241.|
|MyLSCPA||Be sure to check your campus E-mail and Course Homepage using MyLSCPA 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 MyLSCPA.|
|HB 2504||This syllabus is part of LSC-PA's efforts to comply with Texas House Bill 2504.|