ECO : Principles of Microeconomics Spring 2011 Wednesday 6:30 9:15 PM Rosenthal Hall Room 103

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1 ECO : Principles of Microeconomics Spring 2011 Wednesday 6:30 9:15 PM Rosenthal Hall Room 103 Course Description: The study of the allocation of scarce resources from the viewpoint of individual economic units. Topics include household and firm behavior, competitive pricing of goods and resources, and monopoly power. (Credit will not be given for this course to students who have received credit in ECO 261.) Instructor: Office Location: Office Hours: Office Phone: Web site: Prerequisites: None. Russell G. Smith None on campus. The Paducah Bank and Trust Company 555 Jefferson Street Paducah, KY I have no official office hours. However, I will typically be on campus at least thirty minutes prior to class. I encourage you to contact me via telephone, text message, or whenever you need. I will also schedule meetings during the day whenever a mutually convenient meeting time can be arranged (work); (cellular/home); rsmith@paducahbank.com ; russellg.smith@kctcs.edu ; russellgsmith@att.net Expectations: While there are no prerequisites for this class, I expect students to have completed ENG 102 and, at least, MT 120. In particular, I expect students to know the process of writing a research paper. Experience has shown that students should meet these expectations to be successful in this course. It is the responsibility of the student to consider their course history and their individual abilities before proceeding in this course. Course Learning Outcomes: This course will study the basic principles of microeconomic analysis from the perspective of the firm and the individual. Upon successful completion of the course, the student will be able to: 1. demonstrate an improved understanding of economic problems confronted by individuals and firms, how economists address these problems, how the problems are related to the global society, and ethical issues surrounding these problems; 2. demonstrate an ability to communicate economic arguments through written communication; 3. demonstrate an ability to apply analytical skills to economic problems faced by individuals and firms. Course Requirements: Each student is expected to complete ALL assigned course work. The student is responsible for preparing materials before class and is required to participate in class activities. There will be five quiz or homework assignments (the best four grades will be considered, the lowest one grade will be dropped), one writing assignment, three comprehensive unit tests and a comprehensive final exam. Your grade will be determined as follows: Quizzes, Homework, & Participation 10% Writing Assignment 5% Exam I 20% Exam II 20% Exam III 20% Mandatory Comprehensive Final Exam 25%

2 Alternatively, if a student turns in at least four of the five quiz or homework assignments as well as the writing assignment and that student s grade on the final exam is higher than their class average prior to the final exam, their final exam grade will count towards 100% of their course grade. Grading Policy: The total points earned on each assignment will be divided by the total possible points to determine the student's final average. Grades will be assigned as follows: A = 90% and above B = 80% - 89% C = 70% - 79% D = 60% - 69% E = less than 60% Course Outline: Unit I Chapter 1 Chapter 1 Appendix Chapter 2 Chapter 3 Chapter 4 Chapter 5 Unit II Chapter 6 Chapter 7 Chapter 8 Chapter 13 Unit III Chapter 9 Chapter 10 Chapter 11 Chapter 12 Unit IV Chapter 28 Introducing the Economic Way of Thinking Applying Graphs to Economics Production Possibilities, Opportunity Cost, and Economic Growth Market Demand and Supply Markets in Action Price Elasticity of Demand and Supply Consumer Choice Theory Production Costs Perfect Competition Antitrust and Regulation Monopoly Monopolistic Competition and Oligopoly Labor Markets Income Distribution, Poverty, and Discrimination International Trade and Finance Approved Course Specific Competencies: Upon completion of this course, the student can: 1. Demonstrate an understanding of the role of economics in society by applying economic principles and concepts to current events. 2. Identify economic reasons for government intervention in markets and consequences. 3. Demonstrate an understanding of the circular flow of resources and products in an economy. 4. Demonstrate an understanding of how markets work using supply and demand analysis. 5. Demonstrate an understanding of the different models of consumer and producer decision making. 6. Identify characteristics of the different market structures. 7. Compute price and output in different market structures. General Education Curriculum Competencies: I. Communicate Effectively a. Read and listen with comprehension. b. Speak and write clearly using standard English. c. Interact cooperatively with others using both verbal and non-verbal means. d. Demonstrate information processing through basic computer skills. II. Think Critically a. Make connections in learning across the disciplines and draw logical conclusions. b. Demonstrate problem solving through interpreting, analyzing, summarizing, and/or integrating a variety of materials. c. Use mathematics to organize, analyze, and synthesize data to solve a problem. III. Learn Independently

3 a. Use appropriate search strategies and resources to find, evaluate, and use information b. Make choices based upon awareness of ethics and differing perspectives/ideas. c. Apply learning in academic, personal, and public situations. d. Think creatively to develop new ideas, processes, or products. IV. Examine Relationships in Diverse and Complex Environments a. Recognize the relationship of the individual to human heritage and culture. b. Demonstrate an awareness of the relationship of the individual to the biological and physical environment. c. Develop an awareness of self as an individual member of a multicultural global community. Textbook: Students are encouraged to obtain the following text: Economics For Today, by Tucker (6 th edition) Supplies: A calculator will be beneficial in solving assigned problems. The use of cell phone calculators or other portable digital devices for calculations is not acceptable. The student is strongly encouraged to obtain a notebook for organizing notes and assignments. The student should also have access to a stapler. Any assignment with multiple pages turned in without being stapled will receive a grade deduction of 2 points. Attendance Policy: Regular class attendance will be expected, as it is vital to the successful completion of any class. Although attendance will not be explicitly calculated into your grade, this is not a class in which you can expect to do well if you do not attend and participate in class. If a student should miss a class, the student is responsible for any lecture material, assignments, handouts, announcements, etc. given during the missed class. Make-up Policy: There will be no "make-up" exams given. If a student misses an exam, the weight of that exam will be assigned to that student's final. If you know ahead of time that you will not be able to take an exam at the scheduled time, you may contact me to schedule a time prior to the exam time to take the exam. To reiterate, here are the conditions necessary to not take an exam at the scheduled time: You must give me sufficient time to coordinate a place for you to take the exam; and You must take the exam before the scheduled exam time. Late Work Policy: Assignments are due at the beginning of class. Late homework will not be accepted and missed quizzes will receive a grade of "0". Students will not be allowed to take quizzes outside of the scheduled quiz time. Homework assignments will be accepted early and may be submitted via fax or , as long as it reaches the instructor s fax machine or server prior to 6:30 pm the day the assignment is due. ed assignments should be in Microsoft Word format or Adobe Acrobat format. Instructional Modes: The primary modes of instruction will be lecture and group discussions. Students are expected to read material before each class. Questions and comments from students are expected and encouraged. Written Work Policy: The student is expected to write essay questions on assignments and exams

4 legibly. As stated above, the student will be expected to use proper English grammar. Points will be deducted from each assignment if the student makes grammatical errors or writes illegibly. The number of points deducted will vary, depending on the assignment and the magnitude of the error. Withdrawal Policy: March 2, 2011 is the last day a student may, at his/her discretion, officially withdraw from this course and receive a letter grade of W. After this date, a student may receive a W at the instructor s discretion. Financial Aid: PELL, SEOG, and Student Loan recipients (Title IV) who stop attending or withdraw prior to the 60% point in the semester may be obligated to repay a portion of their financial aid. Incomplete Policy: If, due to extenuating circumstances, any student can not complete the required classwork during the semester, prior to the end of the semester (i.e. catastrophic circumstances during final exams), that student is responsible for contacting the instructor and requesting the incomplete grade. Furthermore, it is then that student s responsibility to schedule a mutually beneficial time to complete the required work with this instructor, within the next semester. Special Exam Policy: A special challenge exam is not available to students in this course. KCTCS Code of Conduct: Kentucky Community and Technical College System (KCTCS) faculty and students are bound by principles of truth and honesty that are recognized as fundamental for a community of teachers and scholars. The college expects students and faculty to honor, and faculty to enforce, these academic principles. The college affirms that it will not tolerate academic dishonesty including, but not limited to, violation of academic rights of students and student offenses. Students may refer to the KCTCS Code of Student Conduct, for more information on student rights, academic offenses, and the student's right to appeal. Further information on student rights is available on the WKCTC Student Rights & Responsibilities web page at Cheating in any form will not be tolerated. Any student found guilty of cheating according to the Student Code of Conduct might be given any of the following sanctions at the discretion of the instructor: Failure in the course; or Other sanctions as defined in the Student Code of Conduct. Professional and Classroom Decorum: The instructor will conduct this class in a mature manner and all students will be reacted to in a respectful and forthright way. It is expected that each student will think and act in an adult manner and consider their classmates and the instructor in the same manner. Please turn off cellular phones, beepers, or pagers when entering the classroom. Text messaging during class is not acceptable you will be asked to leave for the remainder of the class period if you are believed to be sending text messages during class. If special circumstances exist that prevent you from turning these off please let me know the reasoning and set the device to a silent mode.

5 Snow Schedule: Announcements concerning snow days will be broadcast over local radio and television stations. In case of inclement weather, please listen for WKCTC's schedule. 8:00 am MWF classes meet from 10:00 am to 10:30 am 9:00 am MWF classes meet from 10:40 am to 11:10 am 10:00 am MWF classes meet from 11:20 am to 11:50 am 11:00 am MWF classes meet from 12:00 pm to 12:30 pm 12:00 pm MWF and 12:30 pm MWF classes meet from 12:40 pm to 1:10 pm 1:00 pm MWF classes meet from 1:20 pm to 1:50 pm MWF classes beginning at 2:00 pm or after start and end on time 9:00 am TR and 9:30 am TR classes meet from 11:00 am to 11:50 am 10:00 am TR and 11:00 am TR classes meet from 12:00 pm to 12:50 pm 12:00 pm and 12:30 pm TR classes meet from 1:00 pm to 1:50 pm 1:00 pm and 1:30 pm TR classes begin at 2:00 pm and end on time TR classes beginning at 2:00 pm or after start and end on time 8:00 am TR classes meet from 10:00 am to 10:50 am Americans with Disabilities Statement: Every effort will be made to ensure classroom and laboratory accessibility for all students. For maximum assistance all students requiring special classroom accommodations due to a verified disability, should contact the Disability Resource Office at least two weeks prior to the first day of class. Once documentation is complete, they must contact faculty to discuss and agree upon reasonable accommodations for the class. The ADA accommodation form will be forwarded to the faculty within one week of receipt in the Disability Resource Office. For more information, contact LaTasha Williamson of the Disability Resource Office at Disability Services at WKCTC would like to assist you with the appropriate accommodations if you have a documented disability; Learning Disability, ADHD, Traumatic Brain Injury, Seizure Disorders and other cognitive and physical impairments. In order to receive the

6 appropriate accommodations you must contact Latasha Williamson, Coordinator of Disability Services at or - lwilliamson0011@kctcs.edu Disability Services Location Anderson Technical Building Room 209 A *If you require assistance during an emergency evacuation please notify Disability Services immediately. INSTRUCTOR RESERVES THE RIGHT TO ALTER ANY OF THE ABOVE POLICIES

7 January 7 January 10 Spring 2011 Academic Calendar Deadline for setting up tuition payment plan to qualify for paying in two payments with 50% required down payment. Spring 2011 Class work begins. Registration and schedule readjustment continues for courses which have not yet met. PAYMENT REQUIRED AT TIME OF REGISTRATION. January 14 January 17 February 8 February 21 March 1 March 2 March 19 March April 15 April 22 April 29 May 2-7 May 9 For 16-week classes Last day to drop a course without a grade. Last day to withdraw and receive 100% tuition refund. Martin Luther King, Jr. Day (KCTCS Holiday - Campus closed). Last day to withdraw and receive 50% tuition refund (16 week classes only). Last day to file an application for a May 2011 degree in the Registrar's Office. President's Day (KCTCS Holiday - Campus closed). Application deadline for academic scholarships for Fall For 16-week classes Last day for students, at their discretion, to officially withdraw from a class and receive a grade of "W". Last day to change from credit to audit. Pell, SEOG, and Student Loan recipients (Title IV) who officially withdraw from this day forward may not be required to repay a portion of their financial aid. Spring Break (Academic Holiday - No classes). Financial Aid Priority Deadline. Students applying after this date must make arrangements and complete the FAFSA immediately at Refer to the Financial Aid section for more details. Good Friday (Campus closes at noon). For 16-week classes End of class work and last day for a student, at the discretion of the instructor, to officially withdraw from a class and receive a grade of "W". Final Exams for Spring Your final exam will be May 4, Graduation held at Carson Four Rivers Center - tickets required.

Alabama A&M University School of Business Department of Economics, Finance & Office Systems Management Normal, AL Fall 2004

Alabama A&M University School of Business Department of Economics, Finance & Office Systems Management Normal, AL 35762 Fall 2004 Course Number ECO 232 01 Call # 3860 ECO 232 03 Call # 3870 Course Title