After entering the course through Canvas, go to the MyLab and Mastery Tab.
Department of Economics
Syllabus for Economics 201
Winter 2015
Instructor Information
D.W. Hedrick, Ph.D.
Professor of Economics
Office: Shaw-Smyser 420, 963-2426, dhedrick@cwu.edu,
Office hours: Monday, Tuesday and Thursday 11:00-11:50am and Tuesday 2:00-3:00pm. It is
important to remember the limitations of on-line communication and that of a normal work week. I
will do my best to respond to e-mails within 24 hours that are sent Monday-Thursday. I will not be
available on weekends. Please plan accordingly and do your work ahead of time. As the quarter
progresses,
Web Page: www.cwu.edu/~dhedrick/
Course Description:
The function of the market system in the allocation of scarce resources, determination of prices and
output in competitive and monopolistic markets, and distribution of income. The role of government
in the market economy.
Statement of Purpose
Students will be introduced to economic perspectives on human and social behavior, as well as the
relevance of the economic way of thinking to addressing problems that face individuals and society.
They will become familiar with the nature of the tools used in economic analysis and learn how these
tools can be used to understand “real world” issues.
We will discuss the following topics and concepts:
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Introduction to economics, including the concepts of scarcity and choice
Supply, demand, and market equilibrium
Elasticity
Efficiency of markets
Cost
Market structures – competition, monopoly, monopolistic competition, and oligopoly
Profit maximization by firms
Market failure
Course Outcomes
By the end of the course, students are expected to:
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Speak to the topics and concepts listed above;
Demonstrate critical thinking skills with regard to personal, business, and government decisions;
and,
Quantitatively and graphically apply economic theory to “real world” issues.
Textbook
Shrink-wrapped three-hole copies with the access code to MyEconLab are available at the CWU
Bookstore, or an on-line version of the book is available directly from Pearson on their website which
is accessible through the course Canvas site.
Required:
(1) Acemoglu, Daron, D. Laibson and J. List, “Microeconomics” Pearson. C. 2015.
(2) MyEconLab. Pearson. - An internet-program that will serve as the platform for instruction,
homework assignments, quizzes, examinations and other course requirements. Available through
Canvas.
Once you log into the Canvas course go to the MyLab and Mastery Tab and you should be
prompted to register for MyEconLab. No payment is necessary for two weeks.
Suggested Reading: The Wall Street Journal (contact Ms. Hood, Economics Dept
Secretary, hoods@cwu.edu (963-2664) or visit the Econ Office 4th floor Shaw-Smyser for the $10
subscription for 10 weeks)
The Economist
Course Requirements
By virtue of enrollment in a College of Business Course class, all students are required to commit
themselves to learning the material and to acting in a civil manner in all class activities.
MyEconLab is a state-of-the-art on-line learning platform. At present, it is only partially integrated
with Canvas. I am
(1) Read the book (Pearson eText tab and/or the hardcopy from the bookstore). The authors have
done an good job of structuring an interesting and provocative approach to learning
microeconomics. Be sure and do all of the end of chapter questions and problems. It will help you
identify what you need to focus on learning from the study plans and the homework
assignments/quizzes.
(2) Use the resources available in the Chapter Resources Tab, which guide you to your assignments
and include student lecture notes (Powerpoints with notes), animations of text material, and sample
quizzes.
(3) Please experiment with both the "study plan" and the "dynamic study modules" (on the Mylab
Course Home page). I have found that the normal study plan has value as a review tool. Since this
is a brand new book, it appears the Dynamic Study Modules have not yet been adapted to this
particular book. You may find that they ask questions that you won't learn until later. Try not to get
frustrated with them. Just ignore the questions you can't answer. Hopefully, you will find the study
plans helpful. The homework assignments are a good study tool to prepare for the quizzes and
midterms. You can do them over and over again until you get them right.
(4) To avoid the impact of unexpected changes to your schedule, do all of your homework
assignments, and quizzes before they are due. They are available two weeks before they are due. I
will not change due dates.
Grades will be based on chapter on-line homework assignments (15% - unlimited attempts), on-line
chapter quizzes (30% - two attempts), and three in-class midterm examinations (55%). The dates for
homework assignments and quizzes are given in the MyLab and Mastery Tab/ MyEconLab Course
Calendar (not in the Canvas Calendar). Homework assignments and quizzes and available two
weeks before they are due.
Quizzes, Graded Discussions and midterm dates are final and will not be changed for any
reason. Ensure against unexpected circumstances by taking assignments early! I will drop the
lowest two homework assignments and the lowest two quizzes, and you can take the optional final
(comprehensive) to replace the lowest midterm score. Once again, I will not change homework,
quiz or midterm due dates. Important: To help ensure students are making progress, one must
score 70% on the chapter homework assignment to be eligible to take the chapter quiz.
The optional final will be due Tuesday, June 9 at 8:00am. The final will replace the lowest
midterm score, if and only if, it improves the student’s course grade.
Course Grading
I am still working on where grades will be displayed. For now, please refer to MyEconLab for you
grades on homework assignment and quizzes. The following scale will be used to determine the
final grade:
A
AB+
B
BC+
C
CD+
D
DF
>=93%
>=90% and <93%
>=87% and <90%
>=83% and <87%
>=80% and <83%
>=77% and <80%
>=73% and <77%
>=70% and <73%
>=67% and <70%
>=63% and <67%
>=60% and <63%
<60%
Course Outline (Subject to change as circumstances indicate)
1. The Principles and Practice Of Economics
2. Economics Methods and Economic Questions
3. Optimization: Doing the Best You Can
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5.
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14.
Demand, Supply, and Equilibrium
Consumers and Incentives
Sellers and Incentives
Perfect Competition and the Invisible Hand
Trade
Externalities and Public Goods
The Government in the Economy
Markets for the Factors of Production
Monopoly
Game Theory and Strategic Play
Oligopoly and Monopolistic Competition
Miscellaneous
This is an on-line course with all the limitations attached to on-line instruction.
Students with Disability
Students with disabilities who wish to set up academic adjustments in this class should give the
professor a copy of their “Confirmation of Eligibility for Academic Adjustments” form from the
Disability Support Services Office at the beginning of the course. Appropriate accommodation will be
determined. Students with disabilities without this form should contact the Disability Support
Services Office, Bouillon 205 or dssrecept@cwu.edu or 963-2171.
The above schedule and procedures in this course are subject to change and will be announced by
the professor.