MiCROECONOMICS Econ 2302 Social & Behavioral Sciences Department CRN West Loop Online Summer 2018
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1 MiCROECONOMICS Econ 2302 Social & Behavioral Sciences Department CRN West Loop Online Summer 2018 Instructor: Renee Edwards Instructor Contact Information & Communication Policy: Office Hours: M-R 8-4 by appointment Office: Suite C219 Southwest College -West Loop Campus 5601 West Loop South Houston, TX please only send s via Canvas only. Any and all s from 3 rd party s will not receive a response. renee.edwards@hccs.edu Anything that is personal or specific to grades should be communicated via a phone call to or in person during office hours. Phone is my Preferred Method of Contact; all calls will be returned within 48 hours. I am unavailable from Thursday 5 pm until Monday at noon. Please manage your expectations do not expect instant responses from me during this semester and my response to most s will be to request that you call me at Office location and hours I want you to learn as much as you can from this class so if you have any issues or questions please reach out to me -the earlier the better. You can reach out to me either by requesting a meeting, stopping by my office, posting a comment on class discussion board, or by sending me an --there is no reason why you should not be able to get in touch with me. I cannot stress to you how much your performance in this class is important to me. This is the reason we are all here. In addition, any student who faces challenges securing their food or housing and believes this may affect their performance in the course is urged to contact the Dean of Students for support. Furthermore, please notify the professor if you are comfortable in doing so. This will enable us to provide any resources that HCC may possess. Course Description ECON 2302 is an intro to principles of microeconomics. Analysis of the behavior
2 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. Prerequisites
3 None Delivery of Instruction This is an online course Minimum Technology Requirements Smartphone or Scanner to scan graphs and practice problems Web Cam for video conferences and Respondus Monitor and Lockdown Administrative Rights to PC to download Respondus Monitor and Lockdown Student Learning Outcomes At the end of this course the student will be able to: 1. Explain the role of scarcity, specialization, opportunity cost and cost/benefit analysis in economic decision-making. 2. Identify the determinants of supply and demand; demonstrate the impact of shifts in both market supply and demand curves on equilibrium price and output. 3. Summarize the law of diminishing marginal utility; describe the process of utility maximization. 4. Calculate supply and demand elasticities, identify the determinants of price elasticity of demand and supply, and demonstrate the relationship between elasticity and total revenue. 5. Describe the production function and the Law of Diminishing Marginal Productivity; calculate and graph short-run and long-run costs of production. 6. Identify the four market structures by characteristics; calculate and graph the profit maximizing price and quantity in the output markets by use of marginal analysis. 7. Determine the profit maximizing price and quantity of resources in factor markets under perfect and imperfect competition by use of marginal analysis. 8. Describe governmental efforts to address market failure such as monopoly power, externalities, and public goods. Identify the benefits of free trade using the concept of comparative advantage. Learning Objectives Students will: 1.1 Identify various economic terms and calculate opportunity cost 2.2 Analyze equilibrium within the supply and demand model 3.2 Determine impact of changes to the determinants of supply and demand on price and quantity 4.3 Identify when the principal of diminishing marginal utility sets in either in a table or graph; apply the utility maximization rule to determine consumer choice 5.4 Calculate supply and demand elasticities; identify determinants of both and state the relationship between total revenue and price 6.5 Distinguish short run and long run cost curves; identify when diminishing marginal product occurs and the reason why using the production function 7.6 Differentiate between the four firm structures based on various characteristics 8.6 Analyze market data to determine both price and quantity specific to firm structure
4 9.7 Calculate profit maximizing price and quantity of resources in factor markets under perfect and imperfect competition by using marginal analysis Describe various market failures and list solutions 11.8 Calculate opportunity cost and comparative advantage Core Curriculum Statement and Other Standards Credit: 3 (3 lecture) The ultimate goal for this class is to change the way you think. Regardless of your major or career path economics plays a vital role in your daily lives. Economics is simply about choices. Ideally, by the end of this class you will think like "an economist" and will be able to apply these skills to whatever career you choose to pursue.. Communication Skills -To include creative thinking, innovation, inquiry, and analysis, evaluation and synthesis of information Critical Thinking Skills - To include effective development, interpretation and expression of ideas through written, oral and visual communication. Empirical and Quantitative Skills - To include the manipulation and analysis of numerical data or observable facts resulting in informed conclusions. Social Responsibility Skills to include intercultural competence, knowledge of civic responsibility, and the ability to engage effectively in regional, national and global communities
5 Start Date See calendar End Date See Can See calendar vas Objective Explain the role of scarcity, specialization, opportunity cost and cost/benefit analysis in economic decisionmaking. Define economic growth and identify sources of economic growth. Identify the benefits of free trade using the concept of comparative advantage. Identify the determinants of supply and demand; demonstrate the impact of shifts in both market supply and demand curves on equilibrium price and output. Assignments for Each Topic Readings, Videos, Prep Questions, Discussion Board Posts & Homework Topics General Terms Production Possibility Frontier Supply and Demand Instructional Material Chapters 1-2 Chapters 3, 4, 7 See calendar Exam 1 Due Exam 1 Due Micro Topics Describe the production function and the Law of Diminishing Marginal Productivity; calculate and graph short-run and long-run costs of production Identify the four market structures by characteristics; calculate and graph the profit maximizing price and quantity in the output markets by use of marginal analysis. 7. Determine the profit maximizing price and quantity of resources in factor markets under perfect and imperfect competition by use of marginal analysis. Calculate supply and demand elasticities, identify the determinants of price elasticity of demand and supply, and demonstrate the relationship between elasticity and total revenue Readings, Videos, Prep Questions, Discussion Board Posts & Homework Exam 2 Due Readings, Videos & Prep Questions Discussion Production & Costs Competitive Firm Competitive Firm Monopoly Oligopoly Monopolistic Competition Structure of the Firm Elasticities Chapter 13 Chapter 14 Chapter 14 Chapter 15 Chapter 16 Chapter 17 Chapter 5
6 Describe governmental efforts to address market failure such as monopoly power, externalities, and public goods Board Posts Homework Externalities Public Goods Market Failure Chapter 7 Chapter 10 Chapter 11 See calendar in menu to the left Exam 3 Due Imperfect Markets
7 Instructional Methods I prefer a student centered approach regarding teaching. He who does the work does the learning. I want you to be an agent for your education. Ask yourself why are you here; if your answer is anything other than to better yourself in some way you will most likely struggle in this course. This is not a course you can memorize a few flash cards and get an easy A. That said, the course is not designed to be tricky or difficult either. If you find yourself struggling in the course please reach out to me immediately. You do not need to wait until you have a bad grade. I cannot stress that to you enough, let s be proactive about your education. Student Assignments Please make note of the amount of work that will be required. If you do not have the capacity to complete all assignments within deadlines please drop course and switch to a less rigorous course. Each chapter will included the following assignments: Prep Work Assignments will be due at the start of each module. Prep work will be a 5-10 graded question set on details from either videos posted, articles, or the book readings. On some questions you will have up to 3 attempts on each question and your scores will be averaged. You do not have to use all three attempts. On the questions embedded in the videos you will NOT have 3 attempts, you will only have one. The objective of this category is make sure you are keeping up with the readings and videos. Writing Assignments **Optional will not be graded** This will either be practice problems or short answer questions that will be posted in the DB area. You can work on these in class or discussion board (online courses) and I encourage you to work in groups to complete them. I would like to warn you against using the same document for the entire group as well as plagiarizing answers. The purpose of these assignment is for you to put the key concepts in your own words and work on practice problems. Any work uploaded that is not yours will cause you to receive a 0 for the writing assignments category. Not a zero for the one DB post but a zero the entire weighted amount. Please check course for assignment topics. Graded Homework Assignments You will have up to two attempts on each problem, your scores will be averaged. If you miss an assignment do not worry. I drop your lowest HW score based on a weighted average. In addition, these questions most resemble what your exam will look like. Exam There will be three module exams which will be multiple choice/true False/Short Answer/Fill in depending on the topic and will be administered online during a specific window and you will be required to use Respondus Monitor and Lockdown, if you do not have access to a PC with a web cam you can schedule to take your exam in the testing center at the Distance Education Location. In addition, there are eight Mac computers in West Loop computer lab that have web
8 cam and software. Please make not that lab is only open during normal HCC business hours. Please plan accordingly. If you miss an exam you will be allowed to take a make-up. You are only allowed to take one makeup per semester. You have one week from the time the exam is due to contact me to request a makeup. The makeup exam will be open for one week, after that week if you have not taken it you will receive a zero for that exam and will not be allowed another makeup opportunity. This opportunity is only offered once, after the first missed exam you will receive a zero for the next missed exam. No exceptions will be made; please do not ask. Extra Credit None; any request for extra credit will not be acknowledged Assessments Prep Work 15% Discussion Board 15% Homework 10% Exams % Instructor Requirements Given that I expect a great deal of the students it is only fitting that I be held to the following: Make the course as interesting and relevant as possible Return all graded assignments quickly with feedback expect all feedback within 10 days of turn in date Give you clear and complete answers to your questions to the best of my ability To abide by the syllabus in regards to material, schedule and grading Timeline for reminders and notices will generally be done 72 hours in advance; please update your Canvas notifications to receive announcements directly to your mobile device. Student responsibilities:
9 You are expected to be on time and prepared for attend all classes. For online courses that means logging in on a weekly basis. Absence is not an excuse for failing to turn in an assignment. Face to Face Only -Laptops are not permitted in the course, even for notetaking. From time to time I may allow laptops but the general rule will be to not have them visible on your desk. Cell phones will be used from time to time in the course. If you must text or make a phone call I completely understand, feel free to leave the room. Program/Discipline Requirements None HCC Grading Scale A = ; 4 points per semester hour B = 89 80:.3 points per semester hour C = 79 70:.2 points per semester hour D = 69 60:.1 point per semester hour 59 and below = F..0 points per semester hour IP (In Progress) 0 points per semester hour W(Withdrawn) 0 points per semester hour I (Incomplete) 0 points per semester hour AUD (Audit) 0 points per semester hour IP (In Progress) is given only in certain developmental courses. The student must reenroll to receive credit. COM (Completed) is given in non-credit and continuing education courses. To compute grade point average (GPA), divide the total grade points by the total number of semester hours attempted. The grades IP, COM and I do not affect Grading Criteria As a general rule grades will not be curved. I am using the Canvas Gradebook which truncates grades, in addition the grading system reflect such. A B is anything greater than an 80.0; therefore if you have a 79.9 you will receive a C in the course because a 79.9 is less than an This is not to punish anyone but randomly curving up for certain students questions my integrity and creates grade inflation. In addition, it creates a new set of students who are close to the next letter grade. If you are concerned about receiving a 79.9 in the course I would suggest you plan appropriately so that study for each exam so that you earn outright the grade you want and not have to worry about my rounding skills or lack thereof.
10 Instructional Materials Only the textbook is required; you do not need to purchase the additional publisher s access card to Mindtap/Cengage/Aplia. If you have a 7 th edition copy of the book you can use that instead of the 8 th edition. However, make note Spring th edition will no longer be used. Title: Principles of Economics Author: Mankiw Edition: 8 ISBN: Publisher: Cengage Learning If you previously purchased the 7th edition ebook for 2 terms you will need to send the following to studentregistrations@cengage.com to have them update your book to the 8th edition Subject: Mankiw 8th Edition Swap First Name: Last Name: Address: ISBN Needed: School: Houston Community College EGLS3 HCC Policy Statements Access Student Services Policies on their Web site: Access DE Policies on their Web site: All students are responsible for reading and understanding the DE Student Handbook, which contains policies, information about conduct, and other important information. For the DE Student Handbook click on the link below or go to the DE page on the HCC website. The Distance Education Student Handbook contains policies and procedures unique to the DE student. Students should have reviewed the handbook as part of the mandatory orientation. It is the student's responsibility to be familiar with the handbook's contents. The handbook contains valuable information, answers, and resources, such as DE contacts, policies and procedures (how to drop, attendance requirements, etc.), student services (ADA, financial aid, degree planning, etc.), course information, testing procedures, technical support, and academic calendars. Refer to the DE Student Handbook by visiting this link: Student-Handbook.pdf
11 HCC Policy Statement: Sexual Misconduct Houston Community College is committed to cultivating an environment free from inappropriate conduct of a sexual or gender-based nature including sex discrimination, sexual assault, sexual harassment, and sexual violence. Sex discrimination includes all forms of sexual and gender-based misconduct and violates an individual s fundamental rights and personal dignity. The Director of EEO/Compliance is designated as the Title IX Coordinator and Section 504 Coordinator. All inquiries concerning HCC policies, compliance with applicable laws, statutes, and regulations (such as Title VI, Title IX, and Section 504), and complaints may be directed to: David Cross Director EEO/Compliance Office of Institutional Equity & Diversity 3100 Main Houston, TX or Institutional.Equity@hccs.edu Distance Education and/or Continuing Education Policies Access HCC Online Policies on their Web site: All students are responsible for reading and understanding the HCC Online Student Handbook, which contains policies, information about conduct, and other important information. For the HCC Online Student Handbook click on the link below or go to the HCC Online page on the HCC website. The HCC Online Student Handbook contains policies and procedures unique to the online student. Students should have reviewed the handbook as part of the mandatory orientation. It is the student's responsibility to be familiar with the handbook's contents. The handbook contains valuable information, answers, and resources, such as HCC Online contacts, policies and procedures (how to drop, attendance requirements, etc.), student services (ADA, financial aid, degree planning, etc.), course information, testing procedures, technical support, and academic calendars. Refer to the HCC Online Student Handbook by visiting this link: Access CE Policies on their Web site:
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