Principles of Microeconomics Syllabus for 2013-2014
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Instructor Information

Course Information

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Course

ECON-2302-002 Principles of Microeconomics

Prerequisites

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

Course 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.

Student Resources Student Resources Website

Department Expectations

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Occupational License Disclaimer

Hours

(3 sem hrs; 3 lec)

Class Type

Online Course

Syllabus Information

Textbooks

\ Case/Fair/Oster: Principles of Economics, 11/E MyEconLab

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• \ Case, Karl E. | Fair, Ray C. | Oster, Sharon
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• \ Textbook ISBN-10: 0133450821
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• \ Textbook ISBN-13: 9780133450828
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\ Access code required purchase.

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Supplies

\ Paper, pencil, and calculator.

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

Students Rights and Responsibilities

Log in using the AC Connect Portal

In order to receive your AC Connect Email, you must log in through AC Connect at https://acconnect.actx.edu .

If you are an active staff or faculty member according to Human Resources, use "Exchange". All other students, use "AC Connect (Google) Email".

Expected Student Behavior

\ Be on time and prepared for classroom discussion.If food and drink is allowed by the instructor then courtesy of disposing of items is required.Turn off all cell phones and pagers or place on vibrating mode.

Grading Criteria

\ The course grade will consist of four major exams.  Your course grade will be the average of the four exams each weighted 25% of the total grade.    Late exams will earn a score of "0".  Extra credit is not offered; no grades will be dropped.

\ It is the responsibility of the student to make up any work missed due to absences and to gain missed lecture information through outside reading and/or notes from classmates. Assignments will not be accepted past the due date for any reason. �� The final exam cannot be made up.

\ This course in not self-paced.  Students are expected to check the course shell frequently for class information.

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Attendance

\ Attendance will be tracked for those students who are receiving financial aid and/or VA benefits.

Calendar

Additional Information

\ Last day to drop the class with a "W" is November 20th.

\ The instructor reserves the right to change assignment and exam dates with one week's notice.

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