ST. GREGORY’S UNIVERSITY
COURSE SYLLABUS for
March-May 2001
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COURSE |
EC 2113 Microeconomics |
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TIME/LOCATION |
Online course with orientation on
March 12, 2001, 5:30 pm |
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INSTRUCTOR |
Mayda Shorney, Ph.D., CPA |
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E-MAIL/Web Site |
shorney@aol.com,
http://intranet.sgc.edu/people/faculty/mshorney/ |
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OFFICE/PHONES |
Room 442a, 405 878-5159 (office),
405 214-6449 (home) |
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COURSE DESCRIPTION FROM OFFICIAL BULLETIN
Economic concepts are vital to understanding business decisions and
individual choices. This course
provides students with a basic understanding of the elements of microeconomics,
or economics within and between organizational units. Major components include: economic growth, market structures,
demand, supply, elasticity, pure competition, pure monopoly, monopolistic
competition, oligopoly, production and demand, pricing and employment and
current economic problems.
1. Understand the concepts of economic
markets and the price system.
2.
Describe
demand and supply and explain how they combine to produce equilibrium prices.
3.
Apply
elasticity to demand and supply as well as to determinates of demand other than
price.
4.
Understand
production and cost theory from the perspective of short and long run supply
analysis.
5.
Understand
and describe perfect competition, monopoly, monopolistic competition, and
oligopoly.
6.
Understand
how imperfect information affect consumers and producers.
7.
Know
why government intervenes in business activity.
8.
Understand
how resource prices are determined within different market structures.
9.
Understand
the labor market in terms of how labor demand and supply determine equilibrium
wages.
10. Understand the role of time as
regards the markets of capital, land, and entrepreneurial ability.
ACADEMIC HONESTY
Students
are advised that cheating and plagiarism are not tolerated at St. Gregory’s
University. Students are expected to
abide by the University's academic regulations and policy and are responsible
for awareness of the University's definition of these activities. The
consequences of violating the academic honesty standard may include a grade of
"0" on the assignment/exam, a grade of "F" in the course,
and, possibly, expulsion from the University.
REQUIRED TEXTS TO BE PURCHASED BY
STUDENT
McConnell, Campbell R., and Stanley
L. Brue, Microeconomics: Principles, Problems, and Policies,
Irwin McGraw-Hill, 1999. ISBN
0-07-289840-2.
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Textbook Web-site |
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Online Learning Center |
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See
the front and back covers of your textbooks for a plethora of economics Web
sites. |
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METHODS OF ASSESSMENT AND STUDENT EVALUATION
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Homework, due weekly |
20% |
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Three exams are worth 15% of grade
each, for a total of |
45% |
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Discussion Thread via Internet |
10% |
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Report, due by Midnight on May 10,
2001 |
25% |
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Total |
100% |
HOMEWORK
·
Complete one of the two Web-based Questions
(italicized entries in the Homework column) and all the other questions
assigned.
·
Save the file with your last name and the chapter
number as the file name, for example, Shorney Ch 01. E-mail each chapter separately to the instructor.
·
Always make sure you understand the Key Questions
for each chapter; the answers for these questions are provided on the Web site.
·
If an
exam question is left unattempted, that question’s value will be subtracted
from the exam score.
·
If an
exam is missed, your total points possible will be adjusted accordingly.
·
You
are to choose a topic relevant to microeconomic theory, such as the affect of
Bush’s tax plan on a specific industry, the affect of health care costs on your
family or business, and write a report relating the material in the text to the
real world.
·
The
report is to have 1-inch margins, be in Times New Roman 12 font, and have a
cover memo and supporting bibliography with at least 5 sources cited.
COURSE OUTLINE
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Date |
Text |
Site |
Topic |
Homework |
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03/12 |
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Orientation and discussion of
course |
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03/19 |
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AN
INTRODUCTION TO ECONOMICS AND THE ECONOMY |
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1 |
1 |
The
Nature and Method of Economics |
12, 13, 14 |
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Appendix
to Chapter 1: Graphs and Their Meaning |
1 |
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2 |
2 |
The Economizing Problem |
8, 19, 20 |
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3 |
3 |
Understanding
Individual Markets: Demand and Supply |
11, 16, 17 |
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03/26 |
4 |
4 |
Pure
Capitalism and the Market System |
1, 13, 14 |
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5 |
5 |
The
Mixed Economy: Private and Public Sectors |
16, 17, 18 |
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6 |
6 |
The
United States in the Global Economy |
11, 14, 15 |
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Exam 01, Chapters 1 - 6
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04/02 |
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MICROECONOMICS AND PRODUCT MARKETS |
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7 |
20 |
Demand and Supply: Elasticities
and Applications |
15, 16, 17 |
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8 |
21 |
Consumer
Behavior and Utility Maximization |
10, 13, 14 |
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9 |
22 |
The
Costs of Production |
5, 8, 12, 13 |
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04/09 |
10 |
23 |
Pure
Competition |
1, 5, 9, 10 |
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11 |
24 |
Pure
Monopoly |
3, 10, 13, 14 |
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12 |
25 |
Monopolistic
Competition and Oligopoly |
1, 4, 13, 14 |
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13 |
26 |
Technology,
R&D, and Efficiency
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1, 7, 14, 15 |
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Exam 02, Chapters 7 - 13
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04/16 |
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MICROECONOMICS
OF RESOURCE MARKETS |
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14 |
27 |
The Demand for Resources |
1, 7, 8 |
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15 |
28 |
Wage
Determination |
1, 10, 13, 14 |
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16 |
29 |
Rent,
Interest, and Profit |
3, 5, 9, 13, 14 |
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04/23 |
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MICROECONOMICS
OF GOVERNMENT |
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17 |
30 |
Government and Market Failure:
Public Goods, Externalities, and Information Problems |
6, 11, 15, 16 |
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18 |
31 |
Public
Choice Theory and Taxation |
6, 8, 12, 13 |
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19 |
32 |
Antitrust Policy, Regulation,
and Industrial Policy
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4, 9, 16, 17 |
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Exam 03, Chapters 14 - 19
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04/30 |
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MICROECONOMIC
ISSUES AND POLICIES |
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05/07 |
21 |
34 |
Income
Inequality and Poverty
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7, 12, 14, 15 |
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22 |
35 |
The
Economics of Health Care |
14, 15, 18, 19 |
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23 |
36 |
Labor-Market
Issues: Unionism, Discrimination, Immigration |
5, 13, 16, 17 |
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24 |
37 |
International Trade |
3, 9, 14, 15 |
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25 |
38 |
Exchange
Rates, The Balance of Payments, and Trade Deficits |
4, 14, 15 |
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05/10 |
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Report Due by midnight
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