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COURSE SYLLABUS
PRINCIPLES OF MICROECONOMICS
ECON 2302
SPRING 2014
ECON 2302 44436 Lec 005
PROFESSOR:
OFFICE HOURS:
HOME PHONE:
E-MAIL:
CLASS TIME
John U. Miller, Ph.D.
30 minutes before and after each class
(830) 981-8675 (Recorder available)
johnmillerut@aol.com (personal email)
jmiller3@austincc.edu (ACC email)
Wednesday, 6:00-9:30 p.m.
Course Description:
Principles of Microeconomics deals with the interactions between
individual households and business firms. The concepts of supply and
demand will be studied; students will learn what these concepts mean, how
they operate, and how prices are determined. Market structure, market
failure and income distribution will also be considered.
Course Rationale:
This course is meant to give students insight into the dynamics of a
market-based economy and how, through its mechanism, scarce resources
are allocated. The theoretical and actual role of the government in this
market system will also be addressed. The knowledge gained in the course
will make students better informed citizens and allow them to follow the
debates over various economic events and policies reported in the news
media. This course is also a foundation course that will prepare students
to be successful in upper division finance, marketing, business
administration, economics, government, and social work courses.
Course Requirements:
The instructional methodology will be lecture and class discussion.
The quality and quantity of each student’s work will determine her or his
final grade. To gain the most benefit from this course, you must be
prepared for class participation and tests. Plan to devote as many hours as
is necessary to insure your ability to accomplish this goal. Assignments
for reading/study are to be completed prior to each class meeting.
Students are expected to actively contribute to the instructor-guided
discussions.
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Common Course Objectives/Student Outcomes:
Students who complete this course will be able to understand:
- the basic concepts of scarcity and opportunity cost;
- the forces of demand and supply and how they interact to determine an
equilibrium price;
- how and why equilibrium prices might change and their impact on
resource allocation;
- the theory of consumer behavior;
- the theory of the firm;
- the theoretical market structures of perfect competition and monopoly.
Course Objectives:
This course will provide the student with an exploration of topics in
microeconomics at a general level. The outcomes of this course are for the
student to:
a. Gain an understanding of microeconomics.
b. Understand how decisions are made by individual consumers and
corporations using an economic perspective which considers
elements such as the objectives of the decision-maker, the
constraints to decision-making, and how choices are made.
c. Identify and analytically evaluate the elements of economic
decision-making including marginal utility analysis and elasticity.
d. Enhance communication skills by providing opportunities for the
exercise of both oral and written communication in the
discussion of microeconomics.
Course Attendance:
Regular attendance is expected. Exposure to an instructor’s explanations
is an important factor in a student’s ability to master the material covered.
Students who attend regularly will be awarded extra credit points. These
extra credit points could be approximately 5% of the course grade. If a
student misses more than 2 classes, these extra credit points could be
instead deducted from your overall grade.
Students are responsible for withdrawing themselves from the course if
that is what their personal situation requires. If you do not complete all of
the elements of the course (3 exams and answers to all topical questions)
or withdraw from the course yourself, then you will receive an Incomplete
(I) in the course. The instructor makes no promise either implicit or explicit
to withdraw students from the course.
The last day to withdraw from the course without penalty is
Friday, February 9th, 2014.
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In addition, students should be aware of a change in the law regarding
Withdrawals, passed by the Texas Legislature in the spring of 2007.
Starting in the Fall Semester of 2007, entering freshmen are restricted to
six no-punitive withdrawals for the whole of their undergraduate careers
while attending state colleges.
“A student at ACC is expected to attend classes in order to progress
satisfactorily toward completion of course objectives. The instructor shall
inform students of specific course objectives at the first class meeting. A
student who is not meeting course objectives may be WITHDRAWN from
the course at the discretion of the instructor.”
General Information:
Each student is expected to attend all classes. Please inform the instructor
in advance if you are unable to attend. Students who are discovered
cheating, committing plagiarism, or violating ACC’s policies covering
academic dishonesty will be awarded a failing grade for the course and
may be subject to dismissal or further discipline. Academic integrity is
expected.
Scholastic Dishonesty:
Acts prohibited by the college for which discipline may be administered
include scholastic dishonesty, including but not limited to cheating on an
exam or quiz, plagiarizing, and unauthorized collaboration with another in
preparing outside work. Academic work submitted by students shall be the
result of their thought, research or self-expression. Academic work is
defined as, but not limited to tests, quizzes, whether taken electronically or
on paper; projects, either individual or group; classroom presentations,
and homework.
Students with Disabilities:
Each ACC campus offers support services for students with documented
physical or psychological disabilities. Students with disabilities must
request reasonable accommodations through the Office for Students with
Disabilities on the campus where they expect to take the majority of their
classes. Students are encouraged to do this three weeks before the start
of the semester.
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Required Text:
Microeconomics. Roger A. Arnold, Eleventh Edition, 2014.
South-Western College Publishing
Supplemental Readings:
Additional materials may be handed out in class to supplement the
discussion of certain topics.
Course Grading:
% of Grade
Examinations (3)
75%
Answers to Topical Questions
15%
Class Participation
10%
100%
*NOTE: All elements (3 exams and answers to topical questions) are to be
completed and turned in by the last class, or a grade of Incomplete (I) will
be given until every item is turned in.
Grading Standards:
The final letter grade will be based on the final average earned on all above
criteria. A(90%-100%); B(80%-89%); C(70%-79%); D(60%-69%);
F(Below 60%). Incompletes will only be granted with the instructor’s
approval and subject to the requirements of Austin Community College.
Class Participation:
Student participation includes demonstrating interest and preparation for
class by asking questions and volunteering answers to questions posed
during class discussions. This is an opportunity to speak out and try new
ideas in a supportive environment. The success of this course depends on
you and your preparation.
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MICROECONOMICS
ECON 2302
SPRING 2014
CLASS SCHEDULE
Class
Date
Topic
1
February 12th
Course Introduction and Overview
Chapter 1. What Economics is About
Appendix A: Working with Diagrams
2
February 19th
Chapter 2
Chapter 3
3
February 26th
Chapter 6
Chapter 7
4
March 5th
Chapter 8
Chapter 9
March 12th
Spring Break - No class
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March 19th
Exam I (Chapters 1,2,3,6,7)
Chapter 10
6
March 26th
Chapter 11
Chapter 13
7
April 2nd
Chapter 14
8
April 9th
Chapter 15
9
April 16th
Exam II (Chapters 8 thru 12)
Chapter 16
10
April 23rd
Chapter 17
11
April 30th
Chapter 19
12
May 7th
Exam III (Chapters 13,14,15,16,17,19)
NOTE: This syllabus may be altered in the event of extenuating
circumstances.