South Dakota State University
Econ 201: Principles of Microeconomics
3 Credit hours
Summer 2013 Short Course (May 6 – May 24)
Instructor: Dr. Michael Miller
E-mail: Email in D2L. In case of emergency, use michael.miller@sdstate.edu
Office: 105 Scobey Hall
Office Phone: 605-688-4872
Cell Phone: 605-651-4549
Office Hours: By Appointment (Call or email)
Text Book: Required: Principles of Microeconomics, 6th edition, by N. Gregory Mankiw
Course Meeting Time: The class will be taught using D2L https://d2l.sdbor.edu/
Speed of this class – this is important! We will be moving rapidly through the material, 1-2 chapters
a day. Make sure you have enough time.
Instruction Methods: For this class you (the student) will be expected to read the assigned chapters (see
the course outline at the end of this syllabus) and review the associated PowerPoints. Some of these
PowerPoints will be narrated, some will not be narrated, and some will be partially narrated. The readings
and PowerPoints are meant to augment each other. If you are confused about anything make sure you
contact me by email or telephone.
Course Description: Focuses on the consumer, the firm, the nature of cost, and how these relate to the
economy as a whole. Analyzes economic models of the consumer, perfect competition, monopoly,
oligopoly and monopolistic competition. Explores economic issues including market power, population
growth, positive and negative externalities, income distribution, poverty and welfare, discrimination, and
international economic inter-dependence through trade.
Office Hours/Contacting Me: By appointment if you wish to talk by phone or meet on campus.
Turn-around Policy: For emails received between Monday at 8:00 AM and Friday at 8:00 AM, I will
return them within 24 hours. For those received between Friday at 8:00 AM and Monday at 8:00 AM, I will
return them within 72 hours. For grade posting of quizzes expect feedback within five days.
Important Dates: First day of class: May 7
Final Exam Due: Friday, May 25 (last day of class)
Attendance Policy:
There is no mandatory attendance policy, but students are expected to meet all the requirements of the
class, including taking quizzes, participating in the discussion boards, and maintain appropriate contact
with peers and instructor. Quizzes, project, and participation in discussions must be met on-time. Any
verified medical reasons, death of a family member or significant other, or verified extenuating
circumstances judged acceptable by the instructor or the Office of Academic Affairs, will be honored. If a
student has an accident, falls ill, or suffers some other emergency over which he/she has no control, the
student needs to gather whatever documentation is available (e.g., copies of repair or towing bills, accident
reports or statements from health care provider) to show the instructor. Absences for vacations, breaks, or
personal interviews do not constitute a valid reason for absence.
Faculty and administration will honor officially approved absences where individuals are absent in the
interest of officially representing the University. Appropriate sanctioned activities include:
 Collegiate club sports and competitions;
 Conferences and workshops recognized by the University not related to academics;
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Commitments on behalf of the University (Students’ Association, Band, Choir, etc.);
Intercollegiate athletics (refer to page 5 of this document for Student-Athlete Class Attendance
Policy); and
Professional activities recognized by the University related to academics (professional conference
attendance, etc.)
Requests for excused absences must be submitted one week prior to the trip or event. Students must present
the completed approved trip absence card to the faculty member prior to the trip or event to have an official
excused absence. Faculty members are not required to honor incomplete or late cards.
On-line Learning:
The computer online experience may be new for some of you; for you veterans, take a minute to remind
yourself of some of the differences you've experienced between this and a face to face course. Most of all,
we need to be extra clear in our communications and questions. Do not be afraid to ask questions more than
once or reiterate important points-you are never in danger of talking/writing too much!
Plan ahead! Computer problems are not going to be accepted as a reason for missing a deadline.
Almost all of our communication in this course will be in D2L via email and in the discussion area of the
course; it is, in essence, an electronic classroom. Please use the class Mail (D2L), not my SDSU email
address unless you are unable to get into the class site.
Goals and Objectives: Principles of Microeconomics meets the South Dakota Board of Regents System
Goal 3.
BOR System GOAL 3: Students will understand the organization, potential, and diversity of the human
community through study of the social sciences.
Student Learning Outcomes (SLO): As a result of taking this course, students will:
1. Identify and explain basic concepts, terminology and theories of the selected social science disciplines
from different spatial, temporal, cultural and/or institutional contexts by:
2. Apply selected social science concepts and theories to contemporary issues.
3. Identify and explain the social or aesthetic values of different cultures.
4. Demonstrate a basic understanding of the allocation of human or natural resources within societies.
Specific Course Objectives:
As a result of taking this course the student should be able to:
Understand the relationship between scarcity, choice, opportunity costs, and production possibility
curves.
Understand the ideas of efficiency and inefficiency as shown on the PPF.
Understand the concepts surrounding changes in demand, changes in quantity demanded, supply, and
quantity supplied and be able to demonstrate the supply and demand interactions.
Understand the concepts surrounding elasticities and total revenues.
Understand the concepts consumer surplus, producer surplus, government (tax) revenues, and dead
weight loss.
Understand the concepts surrounding externalities and public goods, private, common goods, and
natural monopolies and the role of property rights in determining economic outcomes.
Understand the actions the government may take under to “resolve” the externality issues.
Understand the concepts of excludable (non-excludable) and rivaled (non-rivaled).
Understand the issues surrounding the tax system at the federal, state and local levels.
Understand the issues involving tax burden and tax incidence..
Know the difference between accounting and economic profit and be able to calculate each.
Understand the issues relating to production and costs analysis
Understand the idea of economies of scale and how this influences production outcomes.
Know the characteristics of firms in perfect competition, monopolistic competition, oligopoly, and
monopoly.
Be able to determine optimal outcomes of each of these market structures in both the short-run and
long-run.
Understand the relationships involving absolute and comparative advantages.
Understand how comparative advantage leads to specialization and how trade possibilities are
determined by comparative advantage.
Understand the arguments concerning “free trade” and trade restrictions.
Understand the ideas related to consumer choice – utility and budgetary changes
Mutual expectations
Here is what I expect from students:
You will treat everyone in the class, including the instructor, with the respect due to all human beings.
You will give your full attention to the material, and conduct yourself in an appropriate manner.
You will agree to do the work outlined in the syllabus on time.
You will acknowledge that previous academic preparation (e.g., writing skills) will affect your performance
in this course.
You will acknowledge that your perception of effort, by itself, is not enough to justify a distinguished
grade.
You will not plagiarize or otherwise steal the work of others.
You will not make excuses for your failure to do what you ought.
You will accept the consequences -- good and bad -- of your actions.
Here is what students can expect from me:
I will treat you with the respect due to all human beings.
I will not discriminate against you on the basis of your identity or your well-informed viewpoints.
I will manage the class in a professional manner. That may include educating you in appropriate behavior.
I will prepare carefully for our meetings.
I will teach only in areas of my professional expertise. If I do not know something, I will say so.
I will conduct scholarly research and publication with the aim of making myself a more informed teacher.
I will return your assignments quickly with feedback.
I will pursue the maximum punishment for plagiarism, cheating, and other violations of academic integrity.
I will keep careful records of your performance and progress.
I will make myself available to you for advising.
I will maintain confidentiality concerning your performance.
I will be honest with you.
Your grade will reflect the quality of your work and nothing else.
Quizzes: There will be daily quizzes (each worth 20 points) that you will need to complete and turn in
online in D2L. There will be a total of 14 quizzes (no quiz on the first day of class). If you do not get the
quiz completed by the deadline, you will receive zero (0) for that quiz. Only your top 12 quizzes will be
counted (I’ll drop the lowest 2 quiz grades). There are 240 total points for the quizzes. Each quiz will have
20 questions. You will be given 1 hour (60 minutes) to complete the quiz, so make sure you are ready when
you begin.
The quizzes will be opened at 8 p.m. the evening following the material reading assignments. As an
example, on the first day of class (May 7) the material to be covered includes the “Ten Principles of
Economics “and “Assumptions, PPF, and Positive vs. Negative Analysis”. The quiz will be opened at 8:00
PM on May 7th and close at 11:59 PM on May 8th. Quizzes covering material presented on a Friday will be
opened on Friday at 8:00 PM and closed on the following Monday at 11:59 PM.
To make this clear, under NO circumstances will any quiz be accepted late. If you cannot meet these
requirements please withdraw from the class now.
QUIZ MAKE-UP POLICY: There are NO make-ups during this class without a University approved
excuse for absence. Since you will be able to drop two quizzes, you should not need a make-up.
Final Project: The final project is a group project worth 150 points and will be due by 11:59 PM on May
24th. For the project, I will assign each individual (you) to a group and I will also assign the topic for the
group. Each member of the group will be required to participate in the discussion, research, and writing of
the paper. The group grade will be determined in three steps, with the first two steps determining the grade
of the group paper (a maximum total of 100 points) and the third portion devoted to group discussion (50
points). There will be a peer evaluation that you have to complete in order to receive your grade.
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There will be a group grade assigned by me based on the final paper. The paper will be expected
to adhere to APA guidelines and be 7-10 pages in length (plus a cover page and a separate
reference page).
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There will be a peer-evaluated component of the final product grade based on the participation of
the individual members of the group. In this portion, each member’s participation will be graded
by each of the other members of the group to get a final paper grade.
As an example, if I assign a group grade of 90% on the final paper and the average of the group
participation for an individual member is 90%, you will receive a final grade of 81% (90% *
90%). Likewise if I assign a group grade of 100% and the group determines you have done all you
were required to do they should also give you a grade of 100%, giving a final project grade of
100%. In general, if there is a large disparity between the participation grades that individual
members give to the same person I will contact the individuals in the group and determine the
course of action.
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The third portion of the project will be a discussion component worth 50 points. For the group
project you will be expected to participate in determining the project responsibilities and outcomes
and discussing the topic in general. I will come in from time-to-time to “spur” on the topic
discussion. I often try to play “Devil’s Advocate” at these times. All of these discussions will need
to take place in the D2L discussion area (I will set up a discussion area for each group). You must
be an active participant and coming in the discussion just to say things like “I agree with Mike” or
“that sounds like a good idea” will not be enough to warrant getting points. I will be putting a
detailed grading rubric for the discussions in D2L for you to reference.
Grading Guidelines:
240 points – Quizzes (top 12 assignments at 20 points each)
50 points - Discussion
150 points – Final Project
440 points – Total Points possible
Grading is based on the following totals:
A= 396 or more points (90%)
B= 352 to 395 points (80%)
C= 308 to 351 points (70%)
D= 264 to 307 points (60%)
OTHER IMPORTANT POLICIES:
Cheating and Plagiarism:
In written papers and other class projects (electronic format, hard copy or otherwise) it is unethical and
unprofessional to present the work done by others in a manner that indicates that the student is presenting
the material as his/her original ideas or work. Cheating, assisting others, or plagiarizing on tests, quizzes,
problems, research papers, or other assignments will result in written notification to the student involved,
the academic advisor, the department that offers the course, the appropriate College or Administrative
Dean, and parent/guardian (when the students is a dependent for financial aid purposes).
In addition, the penalty for academic dishonesty may be one or more of the following, at the discretion of
the instructor and based on the seriousness of the situation:
 a grade of zero on the test, quiz, homework, problem or other assignment for the student(s)
involved.
 a grade of F for the course
 referral of the matter to the Student Conduct Committee or the Graduate School for disciplinary
action.
Students have the right to appeal an academic dishonesty charge. Procedures for this process are available
in College Departmental Offices and the Dean’s Office. No final course grades will be given until all
avenues of appeal have been completed or the case resolved.
If repeated offenses occur in either a specific class or in 2 or more different classes, the matter will be
automatically referred to the Student Conduct Committee/Graduate School.
Definitions:
Cheating: An act of deception by which a student misrepresents that he or she has mastered information on
an academic enterprise which in fact, she or he has not mastered.
Plagiarism: Taking ownership of one’s work even though the words, ideas or arguments are from another
person. No appropriate attribution by quotation, reference or footnote is given to the original person.
Fabrication: The intentional and unauthorized falsification or invention of any information or citation in an
academic exercise.
Facilitating Academic Dishonesty: Those who intentionally or knowingly help or attempt to help another to
commit an act of academic dishonesty are also subject to penalty.
Freedom in Learning: Freedom in Learning. Students are responsible for learning the content of any
course of study in which they are enrolled. Under Board of Regents and University policy, student
academic performance shall be evaluated solely on an academic basis and students should be free to take
reasoned exception to the data or views offered in any courses of study. Students who believe that an
academic evaluation is unrelated to academic standards but is related instead to judgment of their personal
opinion or conduct should first contact the instructor of the course. If the student remains unsatisfied, the
student may contact the department head and/or dean of the college which offers the class to initiate a
review of the evaluation.
Diversity:
It is the policy of South Dakota State University not to discriminate on the basis of race, color, creed,
religion, national origin, ancestry, citizenship, age, gender, sexual orientation, or disability. The course
content and the course environment are dedicated to an understanding of and acceptance of all.
Disparaging remarks in relation to others’ ethnic or racial background, sex, sexual preference, age,
disability, socioeconomic background, etc. will not be tolerated.
Disabilities:
Any student who feels s/he may need an accommodation based on the impact of a disability should contact
Nancy Hartenoff-Crooks, Coordinator of Disability Services (605-688-4504 or Fax, 605-688-4987) to
privately discuss your specific needs. The Office of Disability Services is located in room 065, the Student
Union.
ACCEPTANCE OF THE SYLLABUS:
By maintaining enrollment in this course you are agreeing to abide by all criteria set forth in this syllabus in
addition to all rules and regulations of South Dakota State University. This includes the tentative course
schedule that follows.
The instructor reserves the right to modify the syllabus and calendar as needed for the class.
Week of:
TENTATIVE COURSE SCHEDULE
Chapter(s)
Topics
May 6
Chapter 1
Chapter 2
Ten Principles of Economics
Assumptions, PPF, Positive vs. Negative Analysis
May 7
Chapter 4
Supply and Demand
May 8
Chapter 5
Elasticities
May 9
Chapter 7
Consumer and Producer Surplus
May 10
Chapter 6
Government Policies – Price Floors, Ceilings, and
Taxes
May 13
Chapter 8
Chapter 12
Costs of Taxation
The Tax System
May 14
Chapter 13
The Costs of Production
May 15
Chapter 14
Competitive Markets (Perfect Comp)
May 16
Chapter 15
Monopoly
May 17
Chapter 16
Chapter 17
Oligopoly
Monopolistic Competition
May 20
Chapter 10
Externalities
May 21
Chapter 11
Public Goods and Common Resources
May 22
Chapter 3
Absolute and Comparative Advantage in Trade
May 23
Chapter 9
World Price, Costs and Benefits
May 24
Paper due by 11:59 PM through D2L Dropbox
Acceptance of the Syllabus (Repeat for emphasis):
By maintaining enrollment in this course you are agreeing to abide by all criteria set forth in this syllabus in
addition to all rules and regulations of South Dakota State University.