Micro Economic Analysis - Econ 2
Professor:
Office location:
Phone #:
E-mail:
Dr. Geetha Rajaram
LAC, T2354
(562) 938-4407
grajaram@lbcc.edu
COURSE DESCRIPTION
This course is designed to teach students how human behavior influences outcomes
in narrowly defined individual markets. This course will introduce concepts relating
to buyers and sellers focusing on firms. By the end of the semester students will
understand how firms generate revenues, costs, and employ resources.
The course is divided into four sections. The first section consists of basic economic theory of
demand and supply. The second section will consist of consumer theory, utility analysis and
budget constraints. The third section includes study of the firm’s costs and production. The
fourth section will analyze four types of firms: perfect competition, monopolistic, and
monopolistic competitive firms. If time permits there will be a fifth section consisting of a study
of labor and income distribution.
COURSE OUTCOME
Analyze and discuss the behaviors of individual households and firms in a mixed
enterprise capitalist system. Examine topics of: price theory, revenues, costs,
distribution, and resource allocation. Assess microeconomic policy. Analyze and
discuss problems such as; competition, monopoly, oligopoly, and resource
employment of labor and capital.
COURSE POLICIES:
Regarding behavior
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Talking in class or ANY behavior considered disruptive to the instructor or other students
can result in the student’s removal from the course.
Students are welcome to record lectures. No laptop, notebook, or tablet computers. No
cell phones or smart phones. No text-ting. No programmable calculators.
All behavior must adhere to the Standards of Student Conduct and Campus Rules as
outlined in the Academic Polices section your college catalog. These standards and rules
are in compliance with section22635 of the State Educational Code. Students should
become familiar with their rights and the rights of teachers.
Regarding withdrawals/incomplete grades
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It is the responsibility of the student to properly withdraw from the class prior to the last
possible withdrawal date. Please check with the Admissions Office for all important dates
regarding status in the class.
Incomplete grades, F/I will only be offered under unusual and serious circumstances. F/Is
will require formal documentation such as a, funeral notice, police report, or
hospitalization document.
Failure to attend the first day of class could lead to the student being dropped from the
course. Please attend class regularly. Excessive absences may result in a "W"
(withdrawal) from the course.
Regarding content
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If you do miss class, you are required to obtain class notes from another student, not from
the professor. You are welcome to meet with me to discuss the material you missed. I
encourage you to do so.
You are allowed to drop one test from your grade. If you miss a test for any reason, that
test will be dropped from your grade. You are not allowed to miss a second test for any
reason. If you have an athletic event that falls on the day of one of the test, you should
plan on dropping that test.
Any student who receives a “D” or “F” grade in his/her first exam will be REQUIRED to
meet with me. I could recommend a tutor, math skills center, etc. for you to improve
your grade, according to your needs.
Any student with a documented learning disability will be accommodated. Please see me
in the beginning of the semester to discuss your special needs and provide the necessary
documentation. Please contact DSPS to set up special exam accommodations prior to the
exams.
No late homework is accepted
No make-up exams will be given
Students are expected to do their own work. Cheating, or the perception of cheating, on
examinations or other assignments will result in an "F" (fail) for the
GRADE DISTRIBUTION
Points
Midterm Exam I
Midterm Exam 2
Midterm Exam 3
Final Exam
Homework
Writing Assignment
Class Discussion/
Attendance
TOTAL
Grades (based on total possible points of 650)
100 points
100 points
100 points
150 points
100 points
50 points
50 points
650 points
585 – 650
520 – 584.9
455 – 519.9
390 – 454.9
Below 390
A
B
C
D
F
COURSE CONTENT :
Textbook
Readings are based on the textbook and any other materials presented in class. My exams and
quizzes are based very close to my CLASS NOTES, hence I strongly recommend you attend
class. Text: Text: authors: Campbell McConnell and Stanley Brue. Title: Microeconomics:
Principles, Policy and Problems. ISBN #: 978 – 0 – 07 – 327309 - 9
Course website
The course has a website. The address is sites.google.com/site/profgrajaram. On the left hand
side of the website will be “course”. Click on course and the course you are enrolled in, either
macroeconomics or microeconomics. All files from homework to anything else I attach for the
course will be on the website.
Attendance: There will be two absences allowed, after which 5 points will be taken off for the
first 6 absences and ten points for two more absences for a total loss of the 50 points. According
to course policy, you will be dropped if you do not show up the first day of class. Attendance for
the first week of class is mandatory. Failure to do so could result in the student being
dropped from the course.
Homework
There will be homework problems given in class. The homework will be a combination
of multiple choice and some problem questions. The homework will be given and
discussed in class before the exam for each section. ALL HOMEWORK ASSIGNMENTS ARE
TO BE DOWNLOADED AND PRINTED FROM THE COURSE WEBSITE. You will always
turn in a paper copy of the homework.
There is a high correlation between assignments done immediately after material shown in class
for any given problem. This can have a direct impact on student success in the course. Thus, this
year I will try something new with the homework. I may assign a particular problem in the
homework to be due the very next class after the material discussed. I may look at the homework
in class on your desks, and discuss it in class before moving to the next set of materials. Thus, it
is your responsibility to attend class and be aware that a homework assignment could be due
without much notice. If you cannot attend class, it will be your responsibility to e-mail me to find
out if there is a problem due the very next class meeting.
Exams
There are four midterm exams given during class, only three will be counted towards your grade.
In other words, the lowest of the four midterm exam grades will be dropped. The final exam will
be comprehensive and required. Exams will be a combination of multiple choice questions, short
answers questions, and problem (essay) type questions.
The chapters that will be covered for each midterm exams are listed below
IMPORTANT: Dates for the exams will be scheduled IMMEDIATELY (USUALLY ONE
CLASS DAY) after the chapters listed below for each exam are completed.
TENTATIVE CHAPTERS FOR THE EXAMS (can be subject to change)
Exam 1 – chapters 1, 2, 3, 6 and class notes
Exam 2 – chapters 5, 7, and class notes
Exam 3 – chapters 8, 9, 13, 14, and class notes
Exam 4 – chapters 10, 11, 18, and class notes
Final Exam all chapters listed above (comprehensive)
COURSE OUTLINE:
Weekly Calendar
Week
Chapter Assignment
1
Chapter 1 - What is Economics / Markets
2
Chapter 2 - Scarcity and Choice
3
Chapter 3 - & 6 Supply and Demand
4
Chapter 3 continued
5
Chapter 6 – Extensions of demand and supply - Elasticitites
First Examination - Chapters 1, 2, 3, 6 and notes
6
Chapter 5 - The United States in a Global Economy
Chapter 7 - Consumer Behavior and Utility Maximization
7
Chapter 7 continued, Consumer Surplus and Demand
Second Examination – Chapter 5, 7 and notes
8
9
10
11
Chapter13 & 14 – The demand for Resources, and Wage Determination
Chapter 8 – Costs of Production.
Chapter 9 – Pure Competition
Third Examination - Chapters 8, 9 and 13, 14 and notes
12
Chapter 10-Pure Monopoly , and differences between Pure Competition and Monopoly
models
Chapter 11- Monopolistic Competition and Oligopoly
Chapter 18 – Antitrust Policy and Regulation
Fourth Examination- Chapters 10, 11, 18, and notes
Review and Final exam – Comprehensive (the last day of class)
13
14
15
16
I hope to show through the theories and models in class how economics affects your lives. So
you are encouraged to express your opinions and your diverse views in this class during the
discussion of any topic. Welcome to my class.