FACULTY OF MANAGEMENT Department of Economics and Finance http://www.viu.ca/economics ECON 100 (S13N02 & S13N03): Introduction to Economics Spring 2013 COURSE OUTLINE Instructor: Ahmed A Hoque Office: Bldg. 250 - Room 422 Tel. (Office): (250) 753-3245 Local 2403 E-mail: Ahmed.Hoque@viu.ca Office Hours: Mondays 12:00-1:00pm & 2:00-3:00pm Wednesday 11:30am-12:30pm Class Location: Building 180 Room 134 (Mo; Wed10:00-11:30am) 1. Course Objectives This is an introductory course in economics. The main objective of this course is to let you be familiar with some basic economics concepts and theories which are very relevant to our real life. For instance, we are very concerned with the economic recession or unemployment rate of the Canadian economy. But many of us may not know how they are measured or what the determinants are. When you take this course, you have the opportunity to understand such economic concepts/issues adequately. No matter which path you pursue in the future, you will find this knowledge invaluable. The term economics came from the Ancient Greek oikonomia, meaning management of a household. But today it is a multifaceted subject with many applications in almost every aspect of our life. Here we will learn how various economic agents behave in order to achieve their objectives, or simply how does an economy work. Economics is broadly classified into microeconomics and macroeconomics. Microeconomics deals with individual items (e.g., consumer satisfaction, cost of production and a producer s objective) and macroeconomics deals with aggregate economic issues (e.g., unemployment rate, economic growth and government expenditure). In this course you will be introduced to various issues in micro- and macroeconomics. 1
2. Required Text Avi J. Cohen, Economics for Life: Smart Choices for All, Pearson Education Canada, Toronto: Ontario, 2010. 3. Course Contents and Tentative Schedule The following is a list of topics intended to be covered for this course. Midterm exams are expected to cover the first two sections. However, the syllabus will be adjusted one week prior to the test date based on the progress of the course. Section One: The Economic Way of Thinking & Efficiency of the Market Appendix A: What s in Economics for You? Appendix B: Making Smart Choices (demand) Appendix C: Show Me the Money (supply) Appendix D: Coordinating Smart Choices (efficiency) Midterm Exam I: February 13, 2013 Section Two: Intro to Macroeconomics Chapter 1: Are Your Smart Choices Smart for All? Chapter 2: Up Around the Circular Flow Chapter 3: Costs of (Not) Working and Living Chapter 4: Skating to Where the Puck is Going Midterm Exam II: March 20, 2013 Section Three: The Power of Economic Policies Chapter 5: Money is for Lunatics Chapter 7: Steering Blindly? Chapter 8: Spending Others Money Final Exam: TBA 2
4. Basis of Student Assessment (Weighting) Grading Items a) Assignments/Homework (4@5%) 20% b) Midterm tests (2@20%): 40% c) Final: 40% Total: 100% 5. Policies on Assessment Assignments/Homework There will be four assignments/homework assigned during the semester. Assignment topics may not be limited to the text book. Some of them will be contemporary economic issue based work, while others will be mathematical. Assignments must be submitted in hard copies. Please make sure that your assignments submitted maintain minimum professional formatting standard. For instance, properly stapled/bind, putting down name and ID clearly on the cover page, maintaining margins, etc. Both handwritten and computer composed assignments are accepted. No email attached assignment will be accepted. Exams a) Exams (midterms and final) contain three sections: Essays, Multiple-choice, and Problems. Essays are used to test critical thinking and writing skills, multiplechoice questions to test overall theoretical knowledge, and problems to test quantitative and qualitative skills. b) Midterms are expected to be 75 minutes long in class exams. Midterm exam dates are given in the course contents and tentative schedule Table on page 2 of this course outline. Although, tentative syllabi are mentioned on the same table, the ultimate decision on the midterm exam syllabus will be made based on the progress of the course materials. 3
c) The final exam is cumulative and to be scheduled by the Student Records office during the final exam period. As a matter of policy, the Department requires a minimum of 40 percent on the final exam in order to pass the course regardless of the marks received on work completed before the final exam. d) Exams must be written on the scheduled dates. No makeup exams will be administered. However, exceptions would be made for some legitimate reasons, subject to necessary documentations. However, if you miss both midterm tests for any valid or invalid reasons, you will automatically be disqualified and will receive a grade of F e) Special accommodation: Students with documented disabilities requiring academic and/or exam accommodation should contact Disability Services in Building 200. f) All exams are closed book/notes. No foods allowed during any exam. g) You are strongly advised to write any exam by black or blue inked pen, not pencil. 6. Grading Scale The following grading scheme will apply: Letter Mark Grade Letter Mark Grade Grade (%) Point Grade (%) Point A+ 90-100 4.33 C+ 64-67 2.33 A 85-89 4.00 C 60-63 2.00 A- 80-84 3.67 C- 55-59 1.67 B+ 76-79 3.33 D 50-54 1.00 B 72-75 3.00 F 0-49 0.00 B- 68-71 2.67 4
7. Course Policies Class Attendance and Participation. Class Attendance is very important. On average one chapter will be covered in each week. Students are expected to prepare for each week of lectures by reading the assigned chapters of the text in advance. Read the assigned topic before coming to class even if you don t understand it fully. While lectures will be based on the required textbook listed above, students will also be responsible for any additional information (e.g. diagrams, notes, etc.) presented on board and projector during lectures. It is strongly encouraged not to miss any class and being present in class on time. Your participation is important. You are strongly encouraged to ask relevant questions in class/during lecture. Do not be hesitated with the idea what other people are thinking of. Academic Misconduct: Academic misconduct includes, but is not limited to, giving and receiving information during any test or exam, using unauthorized sources of information during any test; plagiarizing; fabrication, cheating, and, misrepresenting the work of another person as your own, facilitation of academic misconduct, and under certain conditions, non-attendance. Plagiarism and Cheating. Students are expected to observe the same standards of scholarly integrity as their academic and professional counterparts. Students, who are found to have engaged in unethical academic behaviour are subject to penalty by the University. Device Use. All laptops and electronic devices are to be turned off during lectures unless the holder has a specific note from Disability Services or the instructor has made requests to have them on. No electronic dictionaries, cell phones or other electronic devices will be allowed in exams/tests/quizzes. Only the following approved calculators may be used in exams/tests/quizzes. Texas Instrument BAII Plus, BAII, BA35 Sharp EL-733A Hewlett Packard 10B No other materials will be allowed on the desktop apart from a pen/pencil unless specifically approved by the faculty member. Student Conduct Policy: As a Vancouver Island University student you are expected to conduct yourself as outlined in the University s Student Conduct Policy. For instance, you apply professional standards of behaviour with respect to attendance, punctuality, positive attitude, and respect for other individuals and opinions. Email communication: You are encouraged to email me with any specific question/issue. Emails are answered in the order they are received between 8am and 4pm from Monday to Friday. Please do not expected real time response of your queries made by emails. 5
Academic Calendar, Spring 2013 Vancouver Island University January 2013 7 Monday First day of classes for Spring semester. 14 Monday Last day of active wait-list for Spring semester courses. After this date, courses may only be added in person using the Request For Late Course Registration form. 18 Friday Last day to add/drop a course before Spring semester tuition is calculated. 21 Monday Last day to pay Spring semester fees. Tuition unpaid as of February 4 will be assessed a 10% late payment fee. February 2013 11 Monday Family Day - University Closed. 25 Mar 1 Mon-Fri Study Days for University and Career/Technical Programs. March 2013 1 Friday Last day for overdue tuition for Spring semester to be paid to avoid withdrawal from Spring semester courses. Last day for academic penalty-free withdrawal from a Spring semester course or program or to change from credit to audit (or vice-versa) in University and Career/Technical Programs. 4 Monday 15 Thursday 29/Apr 1 Fri/Mon Last day for academic penalty-free withdrawal from full-year courses. Students with fees owing will be withdrawn from all Spring semester classes. Last day to apply for Student Aid BC (student loan) for students with April end date for the current academic year. Good Friday / Easter Monday; University closed. April 2013 12 Friday Last day of classes for University and Career/Technical Programs. 15 16 Mon-Tues Final examination study days for University and Career/Technical Programs. 17 Wednesday First day of final examinations. 26 Friday Last day of final examinations. 6