ECON 580: Foundations of Economics
Online Fall 2016
Syllabus
Instructor Information
Professor:
Email:
Office hours:
Office Hours
Online section:
John Stavick
john.stavick@usd.edu (this is the preferred method of communication)
8pm – 9pm Central time on Wednesdays (except where otherwise specified): Online Virtual
U820T
Course Information
Catalog Description:
Foundations of Economics rigorously develops the fundamental concepts of micro- and macroeconomics. The
theory of consumer behavior and the theory of the firm dominate the microeconomic section of the course,
while the macroeconomic section analyzes equilibrium national income, employment and prices.
Prerequisites:
This course has no prerequisites.
Required Textbook and Courseware:
The textbook we’ll be using is Essentials of Economics by N. Gregory Mankiw, 7th Edition. ISBN:
9781285165950. The required courseware we’ll be using is Aplia. The information on how to register for Aplia,
how to pay for Aplia, and whether to buy a physical textbook located on the D2L Course Page (Aplia Student
Registration Instructions). Please note that access to Aplia is required for this course. Aplia access includes an
e-textbook in the price. You are not required to have a physical textbook for this course.
Learning Objectives
General Eduction:
This class fulfills the following Goal of the South Dakota System General Education Requirements:
GOAL #3: Students will understand the organization, potential, and diversity of the human community
through study of economics.
1. Identify and explain basic concepts, terminology, methodology and theories of macroeconomics.
Special emphasis is placed on the economic way of thinking and the application of this mode of
thinking to analyzing real world problems and issues.
 Students' understanding of basic concepts, terminology and theories of macroeconomics will be
assessed through problems sets, examinations, and class discussion.
2. Apply selected social science concepts and theories to contemporary issues
 Students' ability to apply macroeconomic concepts and theories to contemporary issues will be
assessed through problem sets, examinations, and class discussion.
3. Identify and explain the social or aesthetic values of different cultures.
 Students' ability to identify and explain different cultures economic values will be assessed
through problem sets, examinations and class discussion.
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4. Demonstrate a basic understanding of the allocations of human or natural resources within societies
 Students' understanding of resource allocation will be assessed through problem sets,
examinations, and online discussion.
Learning objectives will be assessed through problem sets, examinations, and class discussions.
Course Schedule and Reading List (All times are Central)
Section 1
Begin
Monday
8:00 AM
Day
8/22/2016
End
Sunday
11:45 PM
Date
8/28/2016
Chapter
1
Office Hours
Wednesday
2
Monday
12:00 AM
8/29/2016
Sunday
11:45 PM
9/4/2016
3
Tuesday
4
Monday
12:00 AM
9/5/2016
Sunday
11:45 PM
9/11/2016
5
Wednesday
6
Monday
12:00 AM
9/12/2016
Sunday
11:45 PM
9/18/2016
7
Wednesday
8
Monday
12:00 AM
9/19/2016
Sunday
11:45 PM
9/25/2016
Name
Ten Principles of
Economics
Thinking Like an
Economist
Interdependence and
Gains from Trade
Market Forces of Supply
and Demand
Elasticity
Supply, Demand, and
Gov't Policies
Consumers, Producers,
and Efficiency of Markets
Costs of Taxation
Exam I
Section 2
Begin
Monday
12:00 AM
Monday
12:00 AM
Monday
12:00 AM
Monday
12:00 AM
Day
9/26/2016
10/3/2016
10/10/2016
10/17/2016
End
Sunday
11:45 PM
Sunday
11:45 PM
Sunday
11:45 PM
Sunday
11:45 PM
Date
10/2/2016
Chapter
9
10/9/2016
10
11
Wednesday
10/16/2016
12
13
Wednesday
10/23/2016
14
15
Wednesday
16
Office Hours Name
Wednesday International Trade
Externalities
Public Goods and
Common Resources
Costs of Production
Firms in Competitive
Markets
Monopoly
Measuring a Nation's
Income
Measuring the Cost of
Living
2
Monday
12:00 AM
10/24/2016
Sunday
11:45 PM
Day
10/31/2016
End
Sunday 11:45
PM
10/30/2016
Exam II
Section 3
Begin
Monday
12:00 AM
Date
11/6/2016
Chapter
17
Office Hours
Wednesday
Name
Production and Growth
Wednesday
Saving, Investment,
and Financial System
Basic Tools of Finance
Wednesday
Unemployment
Monetary System
18
Monday
12:00 AM
Monday
12:00 AM
11/7/2016
11/14/2016
Sunday 11:45
PM
Sunday 11:45
PM
11/13/2016
19
11/20/2016
20
21
22
Monday
12:00 AM
Monday
12:00 AM
11/21/2016
Monday
12:00 AM
12/5/2016
11/28/2016
Sunday 11:45
PM
Sunday 11:45
PM
11/27/2016
23
Tuesday
12/4/2016
24
Wednesday
Wednesday 5
PM
12/14/2016
Money Growth and
Inflation
Aggregate Demand and
Aggregate Supply
Influence of Monetary
and Fiscal Policy on
Aggregate Demand
Final Exam
Assignments
Online Class time:
Each week, lecture videos are posted which cover the material covered that week. In addition, I will hold online
virtual office hours on Wednesday nights at 8pm (except where otherwise specified in the schedule above).
These sessions will cover additional material and provide practice exercises. The Wednesday sessions will be
conducted using Collaborate. You can find a link and instructions on D2L. The online virtual office hours and
practice sessions are not required but STRONGLY recommended.
Exams:
This course has three exams. Each section exam covers only the material in that section of the course. See the
course reading above for the chapters covered on each section exam. The final exam is not cumulative.
Exams must be taken in a proctored environment and on a computer using the "RESPONDUS BROWSER
LOCKDOWN" program. This is required by USD policy and there are no exceptions. You can download and install
RESPONDUS once the semester begins. A proctored exam environment means you either need to take the
exams at a pre-approved University Center (Sioux Falls, Pierre, Rapid City), the Continuing Education Office on
campus at USD, or with an approved proctor. Read the CDE Testing Information. If you are not using a
University center, you MUST complete a proctor form. Your proctor will oversee the administration of your
exam. Your proctor must be approved by USD before you can take the exams. Make sure you allow sufficient
time to process your proctor form! Exam results will be posted in the D2L gradebook within one week of the
end of the exam period.
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Homework Assignments:
During the semester, you will complete required homework assignments for each chapter covered. Homework
assignments are completed using the Aplia courseware. There will be a homework assignment every week.
Homework assignments are due on Sundays at 11:45pm central time. The schedule on D2L includes which
chapters are covered by each Aplia homework assignment. Assignments are graded immediately after the due
date.
Grading:
There are two section exams, weekly homework assignments, and a final exam in this course. Please see the
policies below on make-up work and late assignments.
Your course grade will consist of the following:
Exam 1: 25% - 250 points
Exam 2: 25% - 250 points
Exam 3: 25% - 250 points
Average of Aplia homework assignments: 25% - 250 points
Total: 100% or 1000 points
Course grades will be determined by the following grading scale:
Letter Grade
Points
Percentage
A
900-1000
90% - 100%
B
800-899
80% - 89.9%
C
700-799
70% - 79.9%
D
600-699
60% - 69.9%
F
<599
Below 60%
Course Policies
Communication:
I use email as a main communication tool. You must be able to access your USD email account. Please make
sure your inbox is not too full to receive messages. You are expected to check your USD email account regularly
(multiple times per week). When you email me, you can expect a response within 24 hours during the week. On
the weekends, my responses may take longer. Please use my USD email address. Please DO NOT use the
Course Mail option in D2L.
Desire2Learn:
The course uses Desire to Learn (D2L) for all course information, lecture notes, and grades. You can access D2L
through the MyU portal or at https://d2l.sdbor.edu/. You should check the website for this course in D2L
multiple times per week. A new feature in D2L allows you to set up notifications about when I post
announcements. You can sign up to receive email or text message notifications when I post an announcement
to our D2L site. If you do not see ECON-580 in your list of courses, see me about adding you to the course.
Access to D2L does not begin until August 22nd.
Attendance:
Success in any course, but particularly in an economics course, is highly correlated with class participation.
While this is an online class, it does not mean it is a self-paced or correspondence-like course. Each week you
will be required to complete a number of tasks as outlined in the schedule on D2L.
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If we were meeting face to face for this course we would meet for 3 hours each week and you would have
reading and homework to do every week. Fortunately, this online format offers flexibility (perhaps you are
working during the day or at night). The course is set up to allow you to choose what time of day you will
participate. However, this does not diminish the time commitment. Taking a 3 credit course means you must
set time aside for the course. You will need to find time to read a significant amount each week along with
weekly discussions and Aplia homework assignments. I anticipate it will take you 7-9 hours per week to do well
in this course. Please make sure to schedule enough time.
Late Work:
Homework assignments on Aplia cannot be submitted late. Late homework assignment will receive a zero.
Exams not completed during the allotted schedule for them will also receive zeroes.
Make-up Work:
It is mutually inconvenient to give make-up exams and assignments. Therefore, make-up work is generally more
difficult. Make-up work is allowed only in the most extreme circumstances and with documentation. If you
need to make-up an exam, you must contact me prior to the end of the exam period. I will not consider
requests for make-up exams that are made after an exam has closed except in the most extreme circumstances.
University Policies
Beacom School of Business Policy on Plagiarism:
Plagiarism is defined as using the words and/or ideas of another representing them to be your own, without proper credit
to the author or source. Whether intentional or unintentional, plagiarism will result, at a minimum, in a grade of zero for
that assignment. Since it is impossible to evaluate a plagiarized assignment, no credit can be given. However, at the
discretion of the instructor, a student may be allowed to rewrite and resubmit the assignment for credit.
Beacom School of Business Undergraduate Exit Exam (USD Business Majors Only):
The material presented in this course is part of the common body of knowledge for this discipline. Mastering the
information presented in this course lays the foundation for your future success as a knowledgeable, well-rounded business
professional. The course is designed to encourage you to commit this valuable information to your long-term memory. In
addition to demonstrating mastery of this information throughout the course, you will also be required to demonstrate
your retention of this critical common body of knowledge by achieving a satisfactory score on the Beacom School of
Business’s exit exam which is part of BADM 482 (Business Policy and Strategy). Achieving a satisfactory score on the exit
exam is a graduation requirement.
University Policy for a Dishonest Assignment:
No credit can be given for a dishonest assignment. At the discretion of the instructor, a student caught engaging in any
form of academic dishonesty may be:
a.
Given a zero for that assignment.
b.
Allowed to rewrite and resubmit the assignment for credit.
c.
Assigned a reduced grade for the course.
d.
Dropped from the course.
e.
Failed in the course.
Statement on Freedom in Learning:
Under Board of Regents and University policy student academic performance may be evaluated solely on an academic
basis, not on opinions or conduct in matters unrelated to academic standards. Students should be free to take reasoned
exception to the data or views offered in any course of study and to reserve judgment about matters of opinion, but they
are responsible for learning the content of any course of study for which they are enrolled. Students who believe that an
academic evaluation reflects prejudiced or capricious consideration of student opinion or conduct unrelated to academic
standards should contact the dean of the college that offers the class to initiate a review of the evaluation.
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Beacom School of Business at the University of South Dakota Mission Statement:
We are a community of scholars and practitioners committed to superior undergraduate and graduate business programs
accredited by AACSB International. We emphasize excellence in teaching, promote intellectual exchange and development,
and advocate continuous learning reflecting a dynamic global environment. Our services deliver value to our students, the
university, business disciplines, and society.
Student Code of Ethics:
Students enrolled at the Beacom School of Business are expected to maintain the highest standards of integrity and ethical
principles and to adhere to the Student Code of Ethics developed and approved by Beacom School of Business students.
This Code provides a frame of reference for the behavior of Beacom School of Business students in their personal,
academic, and professional activities.
To learn more about these expectations, read the Student Code of Ethics posted on D2L.
ADA Statement:
Any student who feels s/he may need academic accommodations or access accommodations based on the impact of a
documented disability should contact and register with Disability Services during the first week of class. Disability Services is
the official office to assist students through the process of disability verification and coordination of appropriate and
reasonable accommodations. Students currently registered with Disability Services must obtain a new accommodation
memo each semester. Students registered with Disability Services are encouraged to visit with me in order to make
alternate arrangements as required. For information contact: Ernetta L. Fox, Director; Disability Services; Room 119B
Service Center; (605) 677-6389; website: www.usd.edu/ds; e-mail: dservice@usd.edu.
Withdrawal Policy:
The last day to drop a class with a full refund and without having the class recorded on your academic record is Monday,
September 1, 2016. The last day to drop a class with a grade of “W” is Friday, November 4, 2016. Courses may not be
dropped after Friday, November 4, 2016.
The instructor of a course may drop a student for non-attendance or non-participation provided the student is in violation
of the official attendance policy or participation policy of the course. Instructor initiated drops are at the instructor's option,
but they must be submitted to the Registrar's Office by November 4th and be approved by the dean of the college or
school in which the course is offered. The student is notified by the Registrar's Office that he/she has been dropped from
the course. The grade assigned is in accord with the drop policy for student initiated drops. If you do not participate in the
weekly homework assignments and discussion posts, I reserve the right to drop you from the course for non-participation.
Student Resources
The University of South Dakota provides a number of useful services to students:
CDE Online Orientation Guide and Online Student Readiness Check:
This contains very important information related to the services provided by the University of South Dakota as
well as the University policies. In it, you will find such information as:
 Academic support services such as the library, writing center, proctor and testing information, book
purchasing, etc.
 Student support services such as advising and enrollment information, financial aid, student life, and
counseling, etc.
 Technology support services like technology requirements, ITS Help Desk contact information, discounts
on computers and software, etc.
USD Portal (http://myu.usd.edu/):
The USD Portal is your one-stop place for a majority of services offered to any student taking a USD course—like
this course. You can access the following services from the “Academics” tab in the portal:
 Desire2Learn
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

WebAdvisor
I.D. Weeks Library
Learning and Study Suggestions
Economics is not a subject that can simply be "memorized." The goal of this course is not to teach you to be
good at trivia, but to condition your mind to approach problems in new ways. The application, interpretation,
and evaluation of concepts and models are fundamental to learning economics. The following are some
suggestions for learning and study. You will have to determine what works best for you.
1.
2.
3.
4.
5.
6.
Log-on for the live class lectures. The lecture and class activities will emphasize what I feel is important,
and you can develop a set of notes from which to study.
Ask questions!! Your questions and comments during the live sessions and the discussion posts help not
only yourself but others to learn and understand. Be an active participant in class discussions. If you are
struggling, please contact me for additional help.
Read the text, preferably before the material is reviewed in class. You may not fully understand the
material the first time you read it that is why you need to participate in the Collaborate lecture so I can
explain it further.
Study with others in class - there is much you can learn from each other.
Practice. Work problems on the homework and the practice quizzes for each chapter in D2L.
Don't fall behind – consistent effort is necessary, not sporadic cram sessions
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