Department of Humanities, Sciences, Social Sciences and Health Sciences (310) 825-7093 Quarter: Winter Principles of Microeconomics XL 1 Economics W9009 4 Units Instructor: William S. Choi, Ph.D. Dates: January 9, 2012 through March 26, 2012 (Winter Session) Days/Time: Each week will begin on Thursday. Prerequisites: Working knowledge of algebra in order to successfully handle course material. Course Description: Overview: This is an introductory course in the principles of microeconomics. Instruction will cover the behavior of individuals and firms and their interactions in the marketplace, gains from trade, and the determination of prices. Different market structures are examined, including the degree of competition. Issues to be addressed include whether markets allocate resources efficiently; conditions when government intervention is justified; concepts and analytical tools applied to current events and policy issues whenever possible. Microeconomics will not be an easy course for some, and I am fully aware that some may not find the topic interesting. I ask that you keep an open mind about the methodology economists employ in trying to understand the world. The goal at the end of the quarter is for the student to be able to recognize how the principles of microeconomics can provide powerful tools for understanding and can guide one through complex market activities and produce answers about what happened and why. Course Expectations: Students in this course are expected to follow review the required reading in the textbook and lecture notes. Assignments and exams will cover material covered in the textbook and lecture notes. In addition, students are required to log-in daily (weekdays) to interact with other students and review links that have been posted by the instructor. Online Learning: All instruction and class interaction will be conducted online. Lecture notes and assignments will be available each week at the course website. Weekly quizzes, the midterm, and final examination also will be administered online. Assignments, quizzes, and examinations will be open book. I look forward to teaching this online course. I have taught traditional courses in the past, and am confident that instruction can be effective in an online setting. There are a number of advantages to the online environment: flexibility in terms of when to review lecture notes and class participation; 1
online discussions may present more opportunities for open and constructive discussions since writing your thoughts will focus your comment/question; allows those who are typically more reserved in a classroom setting to feel more comfortable with participation; and discussions and feedback with your instructor are not limited to the classroom and office hours. I am aware of the disadvantages an online course presents, and I understand many of you will be concerned about the level of interaction. Accordingly, it is important that students take an active role in class participation. In my experience, students can learn as much from one another as they can from the textbook or from the instructor. To provide an incentive for class participation, I have made it a mandatory part of your grade, which is covered in the following section. Requirements for the Student: Here is the typical schedule for the course (except for the week of the final examination). Thursday: Academic week begins. Lecture will be posted the previous evening and will be in the Lectures section of the course homepage. Friday: Each student will be assigned questions (questions will differ for each student). Assigned questions will be posted on the Discussion Board. Each student also will be assigned to evaluate a fellow student s answer. The pairings will differ each week. Monday: Student must post the answer to his/her assignment by 11 pm on the Discussion Board. Tuesday: A quiz will be posted on the course website. Wednesday: Student must post his/her evaluation of the other student s answer by 11pm on the Discussion Board. Student also can post evaluations of other non-assigned students, which also must be posted by 11pm on the Discussion Board. Student must complete the weekly quiz by 11:30 pm. The quiz will have a one-hour time limit. During the week of the final, there will be no assignment, quiz, or lectures. The final examination must be completed by Thursday March 22 by 11:30 pm. Grading: Final examination: Quizzes Assignments Assignment Evaluations Total 37 points 36 points (4 points each) 18 points (2 points each) 9 points (1 point each) 100 points 2
Note on grading of Assignments and Assignment Evaluations: If the student assigned to the problem gets the correct answer on the original attempt, then that student will receive 2 points. The evaluator must confirm that the answer is correct to earn 1 point. If the student assigned to the problem provides an incorrect answer, then that student will get between 0 and 1 point for the attempt. His/her evaluator can receive a point only if a correct answer is provided and will earn an additional point for the student assigned to the problem. Multiple posts can be submitted and exchange of information between the student and evaluator is encouraged. If the student assigned to the problem has an incorrect answer, then that student will get between 0 and 1 point for the attempt. If his/her evaluator cannot provide a correct answer, then no additional points will be given to either the student or the evaluator. Please note that any threatening, belittling, or obscene language towards your classmates and the instructor is unacceptable, and there will be zero tolerance on this. Disagreement is fine and can be productive, but please remember to always be respectful and courteous. Course grades will be based on the following: All grades are final when filed by the instructor on the Final Grade Report. Total Points for the Course: 100 Letter Grade Equivalent: A (90-100%) 90-100 points B (80-89%) 80-89 points C (70-79%) 70-79 points D (60-69%) 60-69 points F (<59%) <59points Required Text: Microeconomics: Principles and Applications by Robert Hall and Marc Lieberman (Thomson/South- Western) 5 th edition 2009 ISBN-10: 143903897X ISBN-13: 978-1439038970 UCLA Extension Contact for this Course: Jennifer Polutan Program Representative 310.825.7093 Student Records: Students can access and update student records online by visiting: www.uclaextension.edu and clicking on My.Extension on the left navigation bar, selecting Student's Course Essentials, and following the directions to log in. Student's Course Essentials lets you view your grades, request an official transcript, change credit status on a current course, obtain enrollment verification, update your personal information, and much more. Student Conduct: Student Conduct: By enrolling in this course, all students are expected to have reviewed the Student Conduct and Sexual Harassment information provided in the current Quarterly catalog (print or online) under General Information. 3
Accommodations: If you need any accommodations for a disability, please contact the UCLA Extension Disabled Student Services at: (310) 825-7851 or via e-mail access@uclaextension.edu Department of Humanities, Sciences, Social Sciences and Health Sciences (310) 825-7093 Quarter: Winter Principles of Microeconomics XL 1 Economics W9009 4 Units Instructor: William S. Choi, Ph.D. Dates: January 9, 2012 through March 26, 2012 (Winter Session) Days/Time: Each week will begin on Thursday. Prerequisites: Working knowledge of algebra in order to successfully handle course material. Course Description: Overview: This is an introductory course in the principles of microeconomics. Instruction will cover the behavior of individuals and firms and their interactions in the marketplace, gains from trade, and the determination of prices. Different market structures are examined, including the degree of competition. Issues to be addressed include whether markets allocate resources efficiently; conditions when government intervention is justified; concepts and analytical tools applied to current events and policy issues whenever possible. Microeconomics will not be an easy course for some, and I am fully aware that some may not find the topic interesting. I ask that you keep an open mind about the methodology economists employ in trying to understand the world. The goal at the end of the quarter is for the student to be able to recognize how the principles of microeconomics can provide powerful tools for understanding and can guide one through complex market activities and produce answers about what happened and why. Course Expectations: Students in this course are expected to follow review the required reading in the textbook and lecture notes. Assignments and exams will cover material covered in the textbook and lecture notes. In addition, students are required to log-in daily (weekdays) to interact with other students and review links that have been posted by the instructor. Online Learning: All instruction and class interaction will be conducted online. Lecture notes and assignments will be available each week at the course website. Weekly quizzes, the midterm, and final examination also will be administered online. Assignments, quizzes, and examinations will be open book. 4
I look forward to teaching this online course. I have taught traditional courses in the past, and am confident that instruction can be effective in an online setting. There are a number of advantages to the online environment: flexibility in terms of when to review lecture notes and class participation; online discussions may present more opportunities for open and constructive discussions since writing your thoughts will focus your comment/question; allows those who are typically more reserved in a classroom setting to feel more comfortable with participation; and discussions and feedback with your instructor are not limited to the classroom and office hours. I am aware of the disadvantages an online course presents, and I understand many of you will be concerned about the level of interaction. Accordingly, it is important that students take an active role in class participation. In my experience, students can learn as much from one another as they can from the textbook or from the instructor. To provide an incentive for class participation, I have made it a mandatory part of your grade, which is covered in the following section. Requirements for the Student: Here is the typical schedule for the course (except for the week of the final examination). Thursday: Academic week begins. Lecture will be posted the previous evening and will be in the Lectures section of the course homepage. Friday: Each student will be assigned questions (questions will differ for each student). Assigned questions will be posted on the Discussion Board. Each student also will be assigned to evaluate a fellow student s answer. The pairings will differ each week. Monday: Student must post the answer to his/her assignment by 11 pm on the Discussion Board. Tuesday: A quiz will be posted on the course website. Wednesday: Student must post his/her evaluation of the other student s answer by 11pm on the Discussion Board. Student also can post evaluations of other non-assigned students, which also must be posted by 11pm on the Discussion Board. Student must complete the weekly quiz by 11:30 pm. The quiz will have a one-hour time limit. During the week of the final, there will be no assignment, quiz, or lectures. The final examination must be completed by Thursday March 22 by 11:30 pm. Grading: Final examination: Quizzes Assignments Assignment Evaluations 37 points 36 points (4 points each) 18 points (2 points each) 9 points (1 point each) 5
Total 100 points 6
Note on grading of Assignments and Assignment Evaluations: If the student assigned to the problem gets the correct answer on the original attempt, then that student will receive 2 points. The evaluator must confirm that the answer is correct to earn 1 point. If the student assigned to the problem provides an incorrect answer, then that student will get between 0 and 1 point for the attempt. His/her evaluator can receive a point only if a correct answer is provided and will earn an additional point for the student assigned to the problem. Multiple posts can be submitted and exchange of information between the student and evaluator is encouraged. If the student assigned to the problem has an incorrect answer, then that student will get between 0 and 1 point for the attempt. If his/her evaluator cannot provide a correct answer, then no additional points will be given to either the student or the evaluator. Please note that any threatening, belittling, or obscene language towards your classmates and the instructor is unacceptable, and there will be zero tolerance on this. Disagreement is fine and can be productive, but please remember to always be respectful and courteous. Course grades will be based on the following: All grades are final when filed by the instructor on the Final Grade Report. Total Points for the Course: 100 Letter Grade Equivalent: A (90-100%) 90-100 points B (80-89%) 80-89 points C (70-79%) 70-79 points D (60-69%) 60-69 points F (<59%) <59points Required Text: Microeconomics: Principles and Applications by Robert Hall and Marc Lieberman (Thomson/South- Western) 5 th edition 2009 ISBN-10: 143903897X ISBN-13: 978-1439038970 UCLA Extension Contact for this Course: Jennifer Polutan Program Representative 310.825.7093 Student Records: Students can access and update student records online by visiting: www.uclaextension.edu and clicking on My.Extension on the left navigation bar, selecting Student's Course Essentials, and following the directions to log in. Student's Course Essentials lets you view your grades, request an official transcript, change credit status on a current course, obtain enrollment verification, update your personal information, and much more. Student Conduct: Student Conduct: By enrolling in this course, all students are expected to have reviewed the Student Conduct and Sexual Harassment information provided in the current Quarterly catalog (print or online) under General Information. 7
Accommodations: If you need any accommodations for a disability, please contact the UCLA Extension Disabled Student Services at: (310) 825-7851 or via e-mail access@uclaextension.edu Course Outline Date Lecture Topic Readings Quizzes/Exams and Assignment Due Dates Week 1 Definitions, Principles, Ch 1 and 2 January 19 and Methods Week 2 Supply and Demand Ch 3 and 4 January 26 Week 3 Elasticity Ch 5 February 2 Week 4 Consumer Choice Ch 6 February 9 Week 5 Production and Cost Ch 7 and 8 February 16 and How Firms Make Decisions: Profit Maximization Week 6 Perfect Competition Ch 9 February 23 Week 7 Week 8 Monopoly and Monopolistic Competition and Oligopoly Labor, Capital and Financial Markets Ch 10 and 11 March 1 Ch 12 and 13 March 8 Week 9 Role of Government Ch 14 and 15 March 15 Week 10 Final Examination Ch 16 March 22 It is estimated students will spend approximately _5 hours outside class each week completing class assignments, readings and studying for exams. Course Syllabus Subject to Update by the Instructor 8