Principles of Microeconomics ECON 2123 Oklahoma City Community College

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1 Principles of Microeconomics ECON 2123 Oklahoma City Community College 1. Course Information: Semester: Spring 2011 (Start Date: 01/18/2011 End Date: 05/14/2010) Section: 046 Room: 2N5 Meeting Time: MWF 11-11:50 2. Instructor Information: Name: Michael Machiorlatti Telephone: ex Website: Office: 2R4 Office Hours: Day Monday Tuesday Wednesday Thursday Friday On-Line Time 8:00-10:00am; 30 min after 5:30-8pm class none 8:00-10:00am 3:00-5:30pm; 30 min after 5:30-8pm class 8:00-10:00am T 4-5pm 3. Required Textbook: Principles of Economics by Bade and Parkin; ISBN *If you go to Amazon or Half.com you can also get a used copy fairly inexpensively 4. Course Competency: To understand how individuals and firms make economic decisions. To learn how to use economic logic to solve problems To see a picture of economics as a unified discipline, a set of interrelated tools and ideas that can be used to look at the world in a different way. Broadly speaking, we will study operation of the market economy at the individual and firm level. Includes supply and demand analysis, consumer behavior, behavior of firms in both competitive and monopoly environments, and effects of government intervention in the market economy. Understanding of the following economic topics will enable us to achieve the above mentioned overall course competency: Foundations of economics, Interaction of Supply and Demand, Government Actions and Market System Markets in Action Firms in the Domestic and International Economies Microeconomic Foundations: Consumers and Firms Market Structure and Firm Strategy Markets for Factors of Production 1

2 5. Global Component: We ll discuss many issues that relate to the global economy. Such issues include flow of economic resources and resulting interdependence and conflicts in the global economy. Besides, we ll be discussing many issues in the context of developing countries that gives you exposure to other than U.S. economic and social systems too. 6. Pedagogy: We will use three methods of learning: working problems, homework, and discussing articles or real-life situations where microeconomics may apply. The use of tests will be integral in this format. It is very important to use all the resources at your disposal to ensure that you are keeping up with assignments. 7. Class/Course Policy: Go over and use all the materials posted on my website, the book s website, and on ANGEL. Work homework problems conscientiously; Simply knowing the answer to a multiple choice question without reading the material or understanding is not a successful strategy or desired outcome of the course. You should spend roughly 2 hrs studying for each hour in class. This means that 6-8 hours per week should be what you expect to spend on the material in order to be successful. Read the assigned textbook readings and work the problems that are assigned before tests. I would recommend that you outline each chapter in 2-3 pages of notes to help formalize the material in your own mind. 8. Accommodation Statement Oklahoma City Community College Complies with Section 504 of the Rehabilitation Act and the Americans with Disabilities Act. Students with disabilities who seek accommodations must make their request by contacting the Office of Student Support Services located on the first floor of the main building near SEM entry 3 or by calling All accommodations must be approved by the Assistant Director, Student Disability Services. 9. Competency Evaluation: Homework & tests will be used to evaluate competency. (a) Homework: Homework will be based on material discussed in class. There will be 4 HW assignments that will come in the form of MC questions. Each HW will contain around 35 MC questions THERE IS NO LATE CREDIT FOR HW. It must be turned in on the date specified. If the date changes you will be notified in class and on my website and you will be responsible for getting it in at that time. For grading purposes I will drop the lowest HW score. So it is in your best interest to turn in all the HW. **Solutions to the HW will be sent out via after the submission date. (b) Tests: There will be 4 tests each covering roughly 1/4 of the course. The test will be broken up into a multiple choice portion taken at the test center and a take home portion due when you take the MC test. The MC portion of the tests will be in the test center for approximately 3 days, so there is no reason to miss a test. On each test there is anywhere from 5-7% of extra credit built into the test itself. No one question will be considered extra credit however. 2

3 Item Weight Points HW Tests **1 Dept Test at end of Semester Participation/Attendance Total Points 1500 Participation will consist of the following: (1) Responding to Questions in Class and Attendance (attendance taken all semester) (2) Turning in all assigned HW and taking all tests. Composition of Tests This is a summary of what will be covered on the tests. To be successful on them you should have read all assigned material, completed all HW assignments, gone over the practice tests, and reviewed the material. Recall that the short answer portion of the test will be due when taking the MC test. On each MC test you will be allowed one 4x6 note card that has hand written notes that will be submitted to the test center upon completing the test. a. Test #1: 25 MC from the first 4 chapters. The take-home portion of the test will be 2-4 short answer questions that will be of the style from Ch 1-4. b. Test #2: 25 MC questions that will cover chapters 5-7, 9, & The take-home portion of the test will be 2-4 short answer questions that will be of the style from these chapters c. Test #3: 25 MC questions that will cover chapters 12 & 13. The take-home portion of the test will be 2-4 short answer questions that will be of the style from these chapters. d. Test #4: 25 MC questions that will cover chapters The take-home portion of the test will be 2-4 short answer questions that will be of the style from these chapters. 10. Grading: **note the points may change throughout the semester. If this occurs the percentages are the default for what grades a student would expect to receive. Grade Percentage A B C D F Below Extra Credit: There will be roughly 8 extra credit quizzes (multiple choice and problems) given throughout the semester in class. To receive points for them you must be in class to take them. They will be open book and open note and generally you will be able to work with another student. They will not be announced ahead of time. 12. Drop Policy: It is the student's responsibility to complete the course or withdraw from the course in accordance with College Regulations. Before you make any decisions please consult with me or the advising office. 3

4 13. Academic Integrity: Individuals caught cheating; copying another s work, giving information to another student during an exam or in-class work will be subjected to the penalties such as a grade of zero. And no-make up will be permitted in such circumstance. Furthermore, it is a basis for referral to college administration with a request for withdrawal from the class. The class will follow the guidelines on academic integrity as outlined in the current college catalog (07-08) on pages Refer to these for further explanation. 14. Please feel free to me or visit me: I ll be checking s frequently. Many questions can be resolved by . Also, I ll be waiting for you at my office during the posted office hours. I may contact you by if I realize that that you need special attention or advisement. Tentative Weekly Schedule: This syllabus is subject to modifications. It is the obligation of each student to be cognizant of and to comply with any announced revisions. Weeks Chapters Assignments 1-4 Ch 1 Introduction to Economics Getting Started Ch 2 The US and Global Economies Ch 3 The Economic Problem Ch 4 Demand and Supply (1) HW 1 due (2) Test #1: In Test Center 5-8 Ch 5 Elasticities of Demand & Supply Ch 6 Efficiency and Fairness of Markets Ch 7 Markets in Action Ch 9 International Topics Ch 10 Externalities Ch 11 Public Goods and Common Resources (1) HW 2 due (2) Test #2: In Test Center 9-12 *Spring Break Mar **Last Day to Withdraw (no refund) Apr 15th Ch 12 and Appendix: Consumer Choice and Demand Ch 13 Production and Cost (1) HW 3 due (2) Test #3in Test Center Ch 14 Perfect Competition Ch 15 Monopoly Ch 16 Monopolistic Competition Ch 17 Oligopoly (1) HW 4 due Friday May 6th (2) Test #4 &Dept Test in Test Center May 9-13 Note About Being Successful: If you cannot do a problem or explain a concept without any aides, you have not mastered the material and should not expect to do well on an exam. Simply being able to read and understanding a solution is not the same as being able to reproduce it or being able to explain it yourself. To be successful in this class you must be able to do the latter. 4

5 **As mentioned before, a good way to do this is to re-write notes. Generally notes are not complete or even understandable the first time you write them. Re-writing the notes allows you to process information and condense it into a more digestible format. I would suggest this even though you are provided notes to work with. Another valuable technique is to go over the practice tests as if you were taking the test itself. When you can fully comprehend and score high on the practice tests then you should do well on the test itself. SAFETY AND SECURITY EMERGENCY PROCEDURES The health and safety of all our students, faculty, and staff are OCCC s prime concern. The procedures outlined below are designed to deal with emergencies of various types. Students should always follow the lead of their instructors. Fire First notification will come from the fire alarm horns, sirens, and strobes. The class should gather their belongings, exit the building using the nearest exit, and move to a parking lot. Do not use the elevators. No alarm should be treated as a false alarm. Horns, sirens, and strobes are only used for fire alarms. Fire (Special Considerations) If someone in your area is not physically capable of descending the stairwell, please ensure that they remain in the area of safe refuge located just inside each upper-level enclosed first stairwell. There are emergency phones located near each of these areas. Medical For all medical related issues push the emergency button located on each classroom phone. The phone will display your room number, allowing for fast response to your location. All security officers are trained as first responders and will assist in guiding EMSA to your location. Treat all bodily fluids as if they were contaminated. Bomb If you receive a bomb threat, document as much information as possible and push the emergency button on the phone. If the decision to evacuate is given, the phone will sound an alarm and display a text message. The class should gather their belongings, exit the building using the nearest exit, and move to an open grassy area. Please turn off all wireless devices. (Cell phones, radios, laptops, and other portable devices.) Weather Tornado warnings that include OCCC will be sent directly to the classroom phone. The phone will sound and alarm and display a text message. The class should gather their belongings, move away from exterior glass and exits, and move to safer areas. These areas are lower-level interior classrooms, restrooms, and stairwells. You should familiarize yourself with the safer areas near your classroom(s). If the city/county sirens are sounding and OCCC is not in the warning area a message will be sent to the classroom phone advising this information. Disturbance/Threats If someone is causing a disturbance in a classroom call security immediately. Push the emergency button located on each classroom phone. Distance yourself from that person, do not place yourself in the person s exit path and remove all potential weapons from the area. Shelter in place: If there is an armed person or shooter on campus: Close and lock your hallway doors. Turn off the lights, shut the blinds or move away from exposed areas. Use desks, tables and other objects to provide protection. Updated information will be sent to the classroom phone. 5

Economics 201 Principles of Microeconomics Fall 2010 MWF 10:00 10:50am 160 Bryan Building

Economics 201 Principles of Microeconomics Fall 2010 MWF 10:00 10:50am 160 Bryan Building Professor: Dr. Michelle Sheran Office: 445 Bryan Building Phone: 256-1192 E-mail: mesheran@uncg.edu Office Hours: