Heartland Community College Social and Business Sciences Division Course Syllabus for Students Course Prefix and Number: ECON 101-03 Spring 2010 Course Title: Principles of Microeconomics Credit Hours: 3 Lecture Hours: 3 Laboratory Hours: 0 Days and times the course meets: Mondays & Wednesdays 12:30 p.m. 1:45 p.m., ICB 2806 Introduction: ECON 101 is an introductory course in microeconomic theory. Microeconomics investigates the decision making framework of individuals and firms as they face the problems of allocating their scarce resources among competing end uses. Section 1 of the course provides the necessary groundwork for studying economics. Scarcity, choice, and efficiency are introduced at the conceptual level. The three different economic systems will be covered, in particular with respect to how each addresses the fundamental economic questions. Supply and demand theory will also be covered. Section 2 further explorers supply and demand theory, focusing on the logic of individual choice, which is otherwise known as the theory of the consumer. Section 3 deals with the theory of the firm, beginning with production and cost analysis, then moving on to the theory of market structure. The section concludes with a survey of public policy and laws regarding actual market structures and firms. Section 4 begins with a study of labor markets, then moves on to a wide-ranging analysis of the role of government in economic activities, particularly with regard to taxes, income distribution, and the management of problems and opportunities those activities create that may be beyond the scope of free markets to address on their own. The course concludes with a survey of physical and financial capital markets. Catalog Description: Introduction to the American economic system with emphasis on macroeconomics including national income accounting, employment theory, and fiscal and monetary policies. Instructor Information Instructor Name: Alan B. Cring Phone number to contact instructor: (309) 268-8590 Instructor e-mail address: Alan.Cring@Heartland.edu Location of instructor s office: ICB 2102 Hours and days of instructor s office hours: M & W: 9:30 a.m. 11:00 a.m. & by appt. Textbook: Required: Edwin G. Dolan. (2007) Economics, Third Edition. Redding, Calif.: Best Value Textbooks. Relationship to Academic Development Programs and Transfer: This course fulfills 3 of the 9 semester hours of credit in Social Sciences required for the A.A. or A.S. degree. This course should transfer as part of the General Education Core Curriculum described in the Illinois Articulation Initiative to other Illinois colleges and universities participating in the IAI. However, students should consult an academic advisor for transfer information regarding particular institutions. Refer to the IAI web page at www.itransfer.org for more information.
Spring 2010 ECON 101-03 Syllabus Page 2 of 8 Beliefs: Academic Discipline: Those striving for a college education understand the large commitment of time and money required. To succeed, you need to attend every class, be prepared for class discussions, and work independently. You have to read the book and other assigned materials. You need to be on time for class; you need to stay for the entire class time; and you need to be prepared to answer direct questions put to you during class. Student Learning: You, the student, will learn by reading the assigned materials, by listening attentively in class, by taking detailed notes, and by participating in the classroom discussions. You must also spend time thinking about the ideas, terms, and theories presented. You must do problems, and you must think carefully and deeply about the subject matter. Instructor s Role: The teacher will provide the necessary direction and support to help you accomplish the learning outcomes of the class, and provide you with specific and timely feedback about your performance. This is an opportunity to enhance your knowledge, skills and commitment toward economics. The knowledge is provided in the lecture slides and readings. Skill development is a result of applying the knowledge in team activities, homework, the computer exercise, and exams. Knowledge and skills are external to the learner; commitment, however, comes from within. Commitment is your motivation and desire to want to learn the material. Commitment separates long-term learning and development from a short term learning experience. To facilitate your commitment, I will present the material clearly and in a manner that triggers new curiosities about the way you see yourself as a participant in our economy. Course Objectives (Learning Outcomes): Upon successful completion of this course, students will be able to do the following: 1. Analyze human and business behavior in terms of constrained rationality in a world of scarce resources, including information. 2. Understand the actions of firms and individuals in terms of preferences and incentives. 3. Demonstrate a knowledge of supply and demand theory and price, cross-price, and income elasticities. 4. Demonstrate a knowledge of consumer theory. 5. Demonstrate a knowledge of producer theory, the relationship between a firm s inputs and outputs, and a firm s short-run and long-run costs. 6. Demonstrate a knowledge of price and output determination for firms under three different market structures perfect competition, pure monopoly, and monopolistic competition. Course/Lab Outline Topic Outline for this Course: The Nature of Economics Scarcity and Trade Offs Supply and Demand Demand and Supply Elasticity Consumer Choice Theory Producer Theory Market Structure Pricing and Output for Monopolies Monopolistic Competition and Oligopoly Regulation and Antitrust Policy
Spring 2010 ECON 101-03 Syllabus Page 3 of 8 Methods of Instruction: Productive Factors Labor Markets Public Policy Physical and Financial Capital Markets DESCRIPTION OF INSTRUCTIONAL TECHNIQUES AND RATIONAL: Lectures Independent reading of textbook chapters Independent viewing of PowerPoint Lecture Slides Discussion of textbook chapters and current events. Video tapes Quizzes and mid-term exams Other online and traditional materials You will be responsible for learning the content of the course through lectures, the textbook, outside readings, and PowerPoint presentations. Some PowerPoint slides have voice narration, so remember to turn the volume up on your personal computer to view. You will not be able to complete the course if you do not have access to a PC with Microsoft PowerPoint. We shall meet every Tuesday and Thursday for class. You are expected to complete the end-of-chapter homework problems in the Problems & Exercises sections. At the instructor s discretion, they may be discussed in class, and you will be asked for your solutions. Professor Cring will give you the problems he is most interested in having you complete. Some of these questions may show up on exams and/or quizzes. DESCRIPTION OF THE LEARNING FORMAT: Course Policies: Attend every class. Study the required materials (i.e., assigned textbook chapters, outside readings, etc.). Come prepared to participate in class with assignments completed. Relate course material to current events and life experiences. Complete all quizzes. Complete all exams. Method of Evaluation (Tests/Exams, Grading System): GRADING SYSTEM Course work for this class includes quizzes, two (2) midterm exams and a final exam. The grade you earn for the class is determined in the following way: Exam 1 25% Exam 2 25% Quizzes 15% Final Exam 35% Total 100% QUIZZES AND EXAMS: Your midterm grade will be calculated from the following formula: 40% (Quiz Average)+60% (Exam 1 Score) All grades are calculated on the following scale: A: 90% 100%; B: 80% 89%; C: 70% 79%; D: 60% 9%; F: 0% 59% Quizzes are multiple-choice and/or problem work-out tests. Your lowest quiz score will be dropped. The quizzes will reflect material that will also be on the midterm exams.
Spring 2010 ECON 101-03 Syllabus Page 4 of 8 Midterm examinations are cumulative by the nature of the material and will consist of multiple-choice problems. Midterm exams and the final exam will be administered in class. Participation (or Attendance): Economics is a cumulative course by nature and the course moves very quickly. It is important that you remain current with the material as we progress through the semester. You must attend class regularly. You will also be responsible for materials assigned in class and on the instructor s own Website at http://hcc-prof.com. End-of-chapter homework problem sets should be completed on time. Missed quizzes and midterms will be counted as zeroes and cannot be made up. Do not ask about this, and do not ask for special treatment; you will not get any. Your lowest quiz score is dropped. This means that, if you take a zero on a quiz because you missed the class time when it was administered, that zero will be your dropped score. Test material is taken directly from the class lecture notes, problem sets, textbook material, PowerPoints, and discussion. Classroom attendance will be taken on a regular basis; repeated absences may be taken into consideration when determining final grades and more specifically when you are at the borderline between two letter grades. If you miss more than two (2) sessions of this class prior to the interim grades being issued, you will be dropped from the roster. Incompletes: An incomplete grade would be issued only in the most extraordinary situation. An Incomplete must be arranged with the instructor on a case-by-case basis and in alignment with college guidelines. Extra Credit: No extra-credit is given. Make-up of tests and quizzes: There are no make-up quizzes or exams given. Missed quizzes and midterm exams are scored as zeroes. Deadlines: All class work must be completed and submitted prior to or at the deadline. The final exam is administered in class at the scheduled time of the final exam for the course. You will not have an opportunity to complete a test subsequent to the time noted for completion. Again, do not even bother to ask for special consideration; it will not be given. Required Writing and Reading: This course requires a minimum of approximately 50 pages of reading per week. Student Conduct: Academic cheating will result in immediate dismissal from the class and prosecution to the fullest extent permitted by Heartland Community College. Lectures and class discussions may not be recorded. Attention should be focused at all times on the lecture, discussion, or other presentation that is the subject of the class. Notice of Canceled Class Sessions Canceled class sessions, for all HCC classes, will be listed under Cancelled Class Meetings in the A-Z Index and under Academic Information in the Current Students page on the HCC Web site. Go to http://www.heartland.edu/classcancellations/ to learn what classes have been canceled for that day and evening and the upcoming week. Be sure to check the last column, which might contain a message from the instructor.
Spring 2010 ECON 101-03 Syllabus Page 5 of 8 Academic Integrity and Plagiarism Academic Integrity: Academic integrity is a fundamental principle of collegial life at Heartland Community College and is essential to the credibility of the College s educational programs. Moreover, because grading may be competitive, students who misrepresent their academic work violate the right of their fellow students. The College, therefore, views any act of academic dishonesty as a serious offense requiring disciplinary measures, including course failure, suspension, and even expulsion from the College. In addition, an act of academic dishonesty may have unforeseen effects far beyond any officially imposed penalties. Violations of academic integrity include, but are not limited to cheating, aiding or suborning cheating or other acts of academic dishonesty, plagiarism, misrepresentation of data, falsification of academic records or documents and unauthorized access to computerized academic or administrative records or systems. Definitions of these violations may be found in the college catalog. Plagiarism: Plagiarism is the presenting of others ideas as if they were your own. When you write a paper, create a project, do a presentation or create anything original, it is assumed that all the work, except for that which is attributed to another author or creator, is your own. Plagiarism is considered a serious academic offense and may take the following forms: 1. Copying word-for-word from another source and not giving that source credit. 2. Paraphrasing the work of another and not giving that source credit. 3. Adopting a particularly apt phrase as your own. 4. Using an image or a copy of an image without crediting its source. 5. Paraphrasing someone else s line of thinking in the development of a topic as if it were your own. 6. Receiving excessive help from a friend or elsewhere, or using another project as if it were your own. Note that word-for-word copying is not the only form of plagiarism. The penalties for plagiarism may be severe, ranging from failure on the particular piece of work, failure in the course or expulsion from school in extreme cases. If you are caught plagiarizing by Professor Cring, he will militantly seek your dismissal from academia. [Adapted from the Modern Language Association s MLA Handbook for Writers of Research Papers. New York: MLA, 1995: 26] Academic Support Center Services Library http://www.heartland.edu/library The Library, located in the Student Commons Buildings at the Raab Road campus, provides Heartland students with a full range of resources including books, online journal databases, videos, newspapers, periodicals, reserves, and interlibrary loan. Librarians are available to assist in locating information. For more information, please call the Library (309) 268-8200 or (309) 268-8292. Tutoring Services Heartland Community College offers tutoring in various forms at no cost to Heartland students at the Tutoring and Testing Center in Normal and at the Pontiac and Lincoln Centers. Tutors are available at convenient times throughout the week. Study groups, group tutoring facilitated by a specially-trained tutor, are also available by request. For more information about services available at each location, please call the Tutoring and Testing Center in Normal (309) at 268-8231, the Pontiac Center at (815) 842-6777, or the Lincoln Center at (217) 735-1731. Testing Services The Tutoring and Testing Center provides a quiet environment for students to complete make-up exams, online exams, and exams for students with special accommodations. Students may be able to complete
Spring 2010 ECON 101-03 Syllabus Page 6 of 8 exams in the Testing Center if arrangements are made with their instructor. For more information, contact the Testing Center at (309) 268-8231. Open Computing Lab The Open Computing Lab provides free computing for HCC students at convenient times throughout the week. The computer lab is staffed by trained Lab Assistants and offers the use of approximately 70 computers, a scanner, a laser printer, and an electric typewriter. Disabilities Statement If you have a documented disability and wish to discuss academic accommodations, please contact Anita Moore, Director of Disability Support Services at 268-8249 or anita.moore@heartland.edu Syllabus Disclaimer You will be notified of any changes to this syllabus. If an exam or assignment is due during a class period when class is canceled, the new exam or due date is, by default, the next scheduled class period.
ECON 101-03 Class Calendar Spring 2010 January 2010 Monday Tuesday Wednesday Thursday 1 Friday 4 5 6 7 8 11 12 13 14 15 Chapter 1 Chapter 1 18 MLK Day 19 20 21 22 No Classes Chapter 2 25 26 27 28 29 Chapter 3 Chapter 3 February 2010 Monday Tuesday Wednesday Thursday 1 2 3 4 5 Friday Chapter 4 Chapter 4 8 9 10 11 12 Chapter 5 Chapter 5 15 16 17 18 19 Chapter 7 Chapter 7 22 23 24 25 26 Chapter 8 Chapter 8
March 2010 Monday Tuesday Wednesday Thursday Friday 1 2 3 4 5 Review EXAM 1 8 Spring Break 9 Spring Break 10 Spring Break 11 Spring Break 12 Spring Break No Classes No Classes No Classes No Classes No Classes 15 16 17 18 19 Chapter 9 Chapter 10 22 23 24 25 26 Chapter 11 Chapter 11 29 30 31 Chapter 12 Chapter 12 April 2010 Monday Tuesday Wednesday Thursday Friday 1 2 5 6 7 8 9 Chapter 13 Chapter 13 12 13 14 15 16 Chapter 14 Chapter 14 19 20 21 22 23 Chapter 15 Chapter 15 26 27 28 29 30 Review EXAM 2 May 2010 Monday Tuesday Wednesday Thursday Friday 3 4 5 6 7 Special Lecture Review 10 11 12 12:00-1:50 p.m. 13 14 FINAL EXAM This Class Calendar is subject to revision upon notification by Professor Cring As of January 06, 2010