Professor Michael Slotkin
Florida Tech/Spring 2005
BUS 2304-01; CRN 16641
BUS 2304-02; CRN 16655
MWF, 12-12:50pm & 1-1:50pm, Q16
College of Business Rm 115
(E-mail) mslotkin@fit.edu
(telephone) 674-7267
(facsimile) 674-8896
(office hours) WF 2-4pm
SYLLABUS
Course Name: Microeconomics
Course Text: McConnell, Campbell R. and Stanley L. Brue. 2002. Microeconomics:
Principles, Problems, and Policies, 15th ed. Boston, MA: Irwin/McGraw Hill. ISBN: 007234037-1.
Course Objectives: The fundamental economic dilemma is that individuals are endowed
with limited resources but desire goods and services in unlimited amounts, defining
microeconomics as simply, the science of choice. In a market economy, the decisions
that consumers, producers, managers, and laborers arrive at are in large measure
predicated upon prices, the great signaling mechanism of our society. How are prices
established? What role does market structure play in determining price? How are factor
rewards distributed? What is a market failure, and if it exists, is there a role for
government in promoting economic efficiency? These are the central themes of
microeconomics, and these tenets are utilized in examining the economics of product and
resource markets as well as related issues dealing with globalization and trade, the
provision of affordable health care, the pace of technological change, unionism, antitrust
enforcement, wage differentials, and others.
Course Evaluation and Procedures: Students will be evaluated based upon their
performance on three tests and a final examination, each counting 25 percent towards
their final letter grade. The exam dates are listed in the course outline. Course
announcements, documents, and other information will be accessible via Blackboard.
Extra credit may be awarded for attendance and participation at business and/or
community events to be determined during the semester.
Make-up Exam Policy: Make-up exams are prohibited. A student may be offered the
opportunity to sit for a prearranged exam under certain circumstances. The exam must
be taken within a time frame defined by the instructor. Accidents, family emergencies,
and other unforeseen events will be handled on a case-by-case basis.
College of Business Office Hours Policy: Faculty in the College of Business are
available a minimum of nine hours each week for consultation with students outside of
classroom time. At least four of these are regularly scheduled office hours. The
remaining time may be requested for E-mail correspondence, appointments for times
other than office hours, and group problem/discussion sessions.
Course Outline
Section 1:
Microeconomic Foundations
Ch’s 1-2,5,3,7
Chapter 01:
Chapter 02:
Chapter 05:
Chapter 03:
Chapter 07:
(9 Lectures)
Jan 10-Feb 2
The Nature and Method of Economics
The Economizing Problem
The U.S. Economy: Private and Public Sectors
Understanding Individual Markets: Demand and Supply
Demand and Supply: Elasticities and Applications + Taxes
Test 1, January 31, 2005, M
Test #1 Review: Feb 2
Section 2:
Production and Market Structure
Ch’s 9-12
Chapter 09:
Chapter 10:
Chapter 11:
Chapter 12:
(11 Lectures)
Feb 4-Mar 4
The Costs of Production
Pure Competition
Pure Monopoly
Monopolistic Competition and Oligopoly
Test 2, March 2, 2005, W
Test #2 Review: Mar 4
Section 3:
The Role of Public Policy
Ch’s 13,17,19,21,23
Chapter 13:
Chapter 17:
Chapter 19:
Chapter 21:
Chapter 23:
(9 Lectures)
Mar 14-Apr 6
Technology, R&D, and Efficiency
Government and Market Failure
Antitrust Policy and Regulation
Income Inequality and Poverty
The Economics of Health Care
Test 3, April 4, 2005, M
Test #3 Review: Apr 6
Section 4:
Globalization and Labor Markets
Ch’s 6,24,14-5,22
Chapter 06:
Chapter 24:
Chapter 14:
Chapter 15:
Chapter 22:
(10 Lectures)
The United States in the Global Economy
International Trade
The Demand for Resources
Wage Determination
Labor Market Issues: Unionism, Discrimination, Immigration
Final Exam, 2304-01, May 6, 2005, F, 8:00-10:00 AM
Final Exam, 2304-02, May 4, 2005, W, 1:00-3:00 PM
2
Apr 8-Apr 29