Spring 2019 Course Syllabus
Course: ECON-2302- Section: 71
Principles of Microeconomics
|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|
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.
* 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|
ECON-Micro4, McEachern, 5th Edition, Cengage Learning
I. INTRODUCTION TO ECONOMICS.
A. The Art and Science of Economic Analysis
B. Economic Tools and Economic Systems.
C. Economic Decision Makers.
D. Demand, Supply, and Markets.
II. INTRODUCTION TO THE MARKET SYSTEM.
A. Elasticity of Demand and Supply.
B. Consumer Choice and Demand.
C. Production and Cost in the Firm.
III. MARKET STRUCTURE AND PRICING.
A. Perfect Competition.
C. Monopolistic Competition and Oligopoly.
IV. RESOURCE MARKETS.
A. Resource Markets.
B. Labor Markets and Labor Unions.
C. Capital, Interest, and Corporate Finance.
D. Transaction Costs, Imperfect Information, and Market Behavior
V. MARKET FAILURE AND PUBLIC POLICY.
A. Economic Regulation and Antitrust Policy.
B. Public Goods and Public Choice.
C. Externalities and the Environment.
D. Income Distribution and Poverty.
VI. INTERNATIONAL ECONOMICS.
A. International Trade.
B. International Finance.
C. Developing and Transitional Economies.
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||May 8, 2019 - 8:00 AM Through May 14, 2019 - 11:59 PM|
|Grading Scale||90 - 100=A 80 - 89=B 70 - 79=C 60 - 69=D Below 59 = F|
Unit Assignments 15%
Weekly Participation/Attendance 5%
Unit #1 Exam 20%
Unit #2 Exam 20%
Final Exam 20%
Course Paper 20%
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.
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.
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.
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.|
|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.|
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 firstname.lastname@example.org rather than using the email within Blackboard.
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.|