Principles of Economics II Syllabus for 2011-2012
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Course

ECON-2302-008 Principles of Economics II

Prerequisites

RDNG 0331-minimum grade of C or a score on a state-approved test indicating college-level reading skills

Course Description

Composition and pricing of national output, distribution of income and related current economic problems; microeconomics.

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Department Expectations

\N

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Hours

(3 sem hrs; 3 lec)

Class Type

Hybrid

Syllabus Information

Textbooks

\ Economics Today 16th ed. by Miller.

\ Pearson/Prentice Hall

\ ISBN# 13: 9780132772747

\ Access code is a required purchase.

Supplies

\ Book, calculator, notebook.

Student Performance

\ 1.  Define economics, state the natue of the "economic problem", and identify the three basic questions that all economic systems must answer.

\ 2.  Construct a production possibility curve and explain how it illustrates concepts of opportunity costs, productive effeciency, and economic growth.

\ 3.  Use elasticity of supply and demand to determine relative changes in price and quantity and cite practical application of these concepts.

\ 4.  Describe the costs and revenues of production to include: fixed, average, variable, and marginal by use of graphs and mathematics.

\ 5.  Identify the four market structures of pure competition, monopolistic competition, oligopoly, and monopoly by characteristics, and calculate the profit maximization point of price and quantity in the output markets by use of marginal analysis.

\ 6.  Determine the profit maximization point of price and quantity of resourses of pure competition and monopsony in the input markets by use of marginal analysis.

\ 7.  Explain the advantages and disadvantage of government intervention in attempts of price floors and ceilings, public goods, inequality of information, and inequalities of income distribution.

\ 8.  Explain the causes of positive and negative externalities in market economies and possible solutions.

\ 9.  Demonstrate the advantages of free trade using the concept of comparative advantage.

\ 10.  Use marginal analysis to make better business and personal decisions.

\ At the completion of the course the student will be able to satisfactorialy complete the learning objectives listed in the syllabus with a minimum of 60% competency as measured by the grading system listed

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Expected Student Behavior

\ Food and drinks are allowed in the classroom setting but should be properly disposed of. Pagers and cell phones must be turned off or in silent mode. Also, refer to Student Rights and Responsibilities Policy.

Grading Criteria

The course grade will consist of four major exams, weekly quizzes and study plans, and attendance. Your course grade will be the average with each exam counting 50% with quizzes worth 20%, random homework lecture assignment 20%, study plan and attendance 5% each.  Assignments will not be accepted past the due date for any reason.   Late exams will have one letter grade per day deducted.

For all grades past Exam 1--there will be 5 points subtracted per reset on Exams.

No makeup for exams or homework lecture assignments missed.  Student must be in attendance on the day that the random homework lecture for the score to count.

Attendance

\ Attendance is 5% of the grade.

\ 90% or greater attendance will receive a grade of 100.

\ 85% to 89% attendance will receive a grade of 85.

\ Below 85% attendance will receive a grade of 0.

Calendar

Additional Information

\ Last day to drop the class with a "W" is April 19th.