Spring 2020 Course Syllabus
Course: ECON-2302- Section: 5C
Principles of Microeconomics 		LSCPA Logo Image
Instructor Information
Instructor Albert Thigpen
E-mailthigpenat@lamarpa.edu
Phone(409) 984-6513
Office
Location:Ruby Fuller - Room: 211
Hours:By appointment.
Department
Inmate Instruction
Chair:Sheila Guillot
E-mail:guillsr@lamarpa.edu
Phone:(409) 984-6381

If you have a grievance, complaint, or concern about this course that has not been resolved through discussion with the Instructor, please consult the Department Chair.
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 None
Learning Outcomes Explain the role of scarcity, specialization, opportunity cost and cost/benefit analysis in economic decision-making.
Identify the determinants of supply and demand; demonstrate the impact of shifts in both market supply and demand curves on equilibrium price and output.
Summarize the law of diminishing marginal utility; describe the process of utility
maximization.
Calculate supply and demand elasticities, identify the determinants of price elasticity of demand and supply, and demonstrate the relationship between elasticity and total revenue.
Describe the production function and the Law of Diminishing Marginal Productivity;calculate and graph short-run and long-run costs of production.
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.
Determine the profit maximizing price and quantity of resources in factor markets under perfect and imperfect competition by use of marginal analysis.
Describe governmental efforts to address market failure such as monopoly power, externalities, and public 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.
Program Student Learning Outcomes
Textbooks 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.

Mcconnell, Brue, Flynn. 2018. Microeconomics. 21st Edition. McGraw Hill Publishing.
Lecture Topics
Outline		 Week 1: Course Overview, Limits, Alternatives, and Choices
Week 2:The Market System and the Circular Flow, Demands, Supply, and Market Equilibrium
Week 3: Market Failures: Public Goods and Externalities, Government's Role and Government Failure [Group Selection Due]
Week 4: (SPRING BREAK) No Class
Week 5: Exam 1 (Chapter 1-5), Elasticity;
Week 6: Utility Maximization
Week 7: Behavioral Economics
Week 8: Exam 2 (Chapter 6-8)
Week 9: Business and the Costs of Production
Week 10:Pure competition in the short run/long run
Week 11: Pure competition in the short run/long run
Week 12:Pure Monopoly; Technology, R&D, Efficiency
Week 13:Exam 3 (Ch. 9, 10, 11, 12)
Week 14:Presentation 1, 2 Income Inequality, Poverty and Discrimination
Week 15:Presentation 3, 4 Health Care
Week 16:Make-up Presentations, Final Exam Review
Week 17:Final Exam:
Major Assignments
Schedule
Week 1: Course Overview, Limits, Alternatives, and Choices
Week 2:The Market System and the Circular Flow, Demands, Supply, and Market Equilibrium
Week 3: Market Failures: Public Goods and Externalities, Government's Role and Government Failure [Group Selection Due]
Week 4: (SPRING BREAK) No Class
Week 5: Exam 1 (Chapter 1-5), Elasticity;
Week 6: Utility Maximization
Week 7: Behavioral Economics
Week 8: Exam 2 (Chapter 6-8)
Week 9: Business and the Costs of Production
Week 10:Pure competition in the short run/long run
Week 11: Pure competition in the short run/long run
Week 12:Pure Monopoly; Technology, R&D, Efficiency
Week 13:Exam 3 (Ch. 9, 10, 11, 12)
Week 14:Presentation 1, 2 Income Inequality, Poverty and Discrimination
Week 15:Presentation 3, 4 Health Care
Week 16:Make-up Presentations, Final Exam Review
Week 17:Final Exam:
Final Exam Date May 13, 2020 - 12:00 PM
Grading Scale  90 - 100=A    80 - 89=B    70 - 79=C     60 - 69=D    Below 59 = F
Determination of
Final Grade		 Four major examinations (including the Final Exam) 100 pts/each = 400 points
Presentation Project = 100 points
Total = 500 points
Additional points may be added for class participation and attendance
Course Policies
Instructor Policies A student is not automatically entitled to make up work or exams missed due to absence. The reason for the absence is to be presented to the instructor for review and determination. Make-up exams may have an academic penalty.
Attendance Policy Research has shown a cause and effect relationship between attendance and college success. Students are expected to attend class. Students should notify Mr. Smith immediately if an absence is expected.
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 the Office for Disability Services 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
HB 2504 This syllabus is part of LSC-PA's efforts to comply with Texas House Bill 2504.