Principles of Microeconomics Syllabus for 2023-2024
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Instructor Information

Course Information

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Course

ECON-2302-005 Principles of Microeconomics

Prerequisites

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 ResourcesStudent Resources Website

Department Expectations

In this course, you are expected to read all assigned materials and agree to abide by the rules and guidelines presented in the department academic integrity policy; by submitting an assignment, you acknowledge this policy. https://drive.google.com/file/d/1VG1NSpxZzc8HDz_ElcnwYALIMYy-tCSl/view?usp=drive_link

Occupational License Disclaimer

Notice to Students enrolled in an educational program for preparation of issuance of certain occupational licenses:

Students enrolled in an educational program in preparation for obtaining certain occupational licenses are potentially ineligible for such license if the student has been convicted of an offense. For further information, please contact:

Melodie Graves
Justice Involved Advocate
Student Service Center 117
mgraves24@actx.edu
806-371-5995
Make appointment at https://melodiegraves.youcanbook.me

You can also contact the Legal Clinic, or the faculty member in charge of the educational program that you seek to enroll in. The further information you will receive will include notification to you of your right to request a criminal history evaluation letter from the licensing authority in order to clarify your particular situation.

Hours

(3 sem hrs; 3 lec)

Class Type

Online Course

Syllabus Information

Textbooks

The textbook required for this course is Principles of Macroeconomics 23e by Campbell McConnell, Stanley Brue, and Sean Flynn. The ISBN for this textbook is 9781266748240.

Note: You will need the version of the textbook that includes the access code for Connect as this is where you will complete the majority of your coursework.

Supplies

Paper, pencil, and calculator.

Student Performance

1. Define economics, state the nature 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 efficiency, 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. Apply game theory to economic analysis.
6. Determine the profit maximization point of price and quantity of resources 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 you should show at least a minimum of 60% competency on the learning objectives listed in this syllabus.

Students Rights and Responsibilities

Student 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

It is important for you to check BlackBoard regularly, take good notes, participate in discussion, and complete all assignments. You should read the material before attempting the assignments. 

Grading Criteria

I will determine your final grade with the following:

1. Exams (highest 3 of 4 exam grades): 40%

2. Homework (lowest 2 assignments dropped): 35%

3. Economics Essay: 15%

4. SmartBook Readings: 10%

All assignments and exams have strict deadlines. 

I encourage you to study with a classmate or with a study group. Do not cheat. If you cheat or the work you submit is not your own, you will receive a zero.

I do not give extra credit.

Your 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

This is an online course with no live meetings.

Calendar

Additional Information

Note - All exams in this course are proctored and require a webcam. If you do not have access to a webcam, you can use a computer on campus to take your exam. You may use a calculator and blank scratch paper on exams. No other items are permitted!