Principles of Microeconomics Syllabus for 2014-2015
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Instructor Information

Course Information

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Course

ECON-2302-003 Principles of Microeconomics

Prerequisites

Prerequisite: MATH-0303, RDNG 0331-minimum grade of C or a score on a state-approved test indicating college-level reading and math 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

\N

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Hours

(3 sem hrs; 3 lec)

Class Type

Hybrid

Syllabus Information

Textbooks

Principles of Economics by Case Fair Oster

Pearson/Prentice Hall

ISBN# 978-0-13-302380-0

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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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

\ 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. Your course grade will be the average with each exam counting 25%.  Assignments will not be accepted past the due date for any reason.   Late exams will result in a grade of "0".  Late exams will not be accepted for any reason.

No makeup for exams or homework lecture assignments missed.

No extra credit.

The final course grade will consist of an average of:

A = 100 to 89.5

B = 79.5 to 89.4

C = 69.5 to 79.4

D = 59.5 to 69.4

F =  59.4 and below

Attendance

Attendance is tracked.

Calendar

Additional Information

Last day to drop the class with a "W" is April 23rd.