Microeconomics
Furman University
Undergraduate Evening Studies
Course Syllabus - ECN 22 (102)
Course: ECN 22 (102)
Room: HIP 204
Semester Credit Hours: 3.0
Office Hours: By Appointment
Instructor: Lance Vischer
E-mail: Lance.Vischer@gvltec.edu
Office phone: 864-250-8790
Meeting Time: Wednesday 6:00-8:45PM
Prerequisite: None, MTH 16 recommended. Required for business and accounting majors, and
is one of GER social science options.
Course Description: Microeconomics is a study of the behavior of households and firms to
include supply and demand, elasticity, utility, costs of production price/output in different market
structures, pricing of resources, regulation, and comparative advantage and trade. (3 semester
hours)
Course Purpose: This is an introductory course designed to familiarize the student with the
price system, behavior of the consumer and the firm. An analytical study of basic concepts
provides the student with an understanding of microeconomics.
Required Text:
Microeconomics, 2nd Edition, Hubbard, R. Glenn and O’Brien, Anthony
Patrick, Prentice Hall 2008. ISBN-10: 0-13-813277-1 (with MyEconLab and Iclicker).
Course Objectives: At the end of the course, the student will be evaluated on the ability to:
1.
to analyze the issue of scarcity and explain the use and applications of the production
possibility curve.
2.
to demonstrate the use of supply-demand analysis in product and resource markets.
3.
to explain and evaluate the market system and to examine the role of the government in
the economy.
4.
to explain the concept and the application of supply and demand elasticity.
5.
to analyze consumer behavior and the underpinnings of demand.
6.
to analyze firm behavior within different market structures and to compare the
implications of each market type.
7.
to demonstrate the use of comparative advantage and its application to foreign trade
issues.
Microeconomics: ECN 22 (102)
Class Week*
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
Tentative Schedule Fall 2008
CHAPTERS*
Economics: Foundations and Models (Chapter 1)
Using Graphs and Formulas (Chapter 1 Appendix) & Trade-Offs
and the Market System (Chapter 2)
Exam I (Ch.1-2) & The Interaction of Demand and Supply
(Chapter 3)
Chapter 3 (cont.) & Economic Efficiency, Government Price
Setting and Taxes (Chapter 4)
Exam II (Ch.3-4) & Elasticity: The Responsiveness of Demand
and Supply (Chapter 6)
Chapter 6 (cont.) & Consumer Choice and Behavioral
Economics (Chapter 9)
Exam III (Ch.6 & 9) & Technology, Production, and Costs
(Chapter 10)
Chapter 10 (cont.) & Firms in Perfectly Competitive Markets
(Chapter 11)
Exam IV (Ch.10-11) & Monopolistic Competition (Chapter 12)
Chapter 12 (cont.) & Oligopoly (Chapter 13)
Chapter 13 (cont.) & Monopoly and Antitrust Policy (Chapter
14)
Exam V (Ch.12-14) & Firms, the Stock Market and Corporate
Governance (Chapter 7)
Chapter 7 (cont.) & Economic Issues
Economic Issues (cont.)
Final Exam (Cumulative)
*Any changes will be announced in class
COURSE EXPECTATIONS: Class participation is 10% of your grade. This grade is based on
the following: Students are expected to read and complete assigned material prior to class,
participate in class discussion and assignments, be on time, not leave early (without notifying the
professor ahead of time), and having a respectful attitude toward myself and other students. Do
not be afraid to participate because of the size of the class. If you have a question, never let it go
unanswered. If you do not get an opportunity to ask your question during class, set up an
appointment or feel free to contact me via email. This action will also be considered class
participation.
ATTENDANCE: In order to complete this course successfully, it is imperative that you attend
class. Actual attendance will not be part of your grade computation, but class participation is.
You do not have attend every class to order to receive a 100 for class participation, but being late,
leaving early, or being absent without prior notification will lower your grade. Lack of
attendance not only decreases your class participation grade, you may miss announcements about
new assignments, adjustments to the course schedule or exam dates.
EXAMS: Six exams will be given, including the Final Exam (cumulative). Exams will include
various types of questions: multiple choice, graphs, short answer, etc. Students are expected to
take the exams as scheduled, but will be allowed to drop the lowest exam grade, not including the
Final Exam. If for any reason the student misses an exam, then the student will receive a zero.
No make-up exams will be given. The Final Exam must be taken, and its score cannot be
dropped. At the end of the course, any extra points (extra credit or curves) awarded on an exam
will be added to the exam score. Exams are designed for 75 minutes.
ACADEMIC ACCOMMODATIONS: Students eligible for academic accommodations should
contact Ms. Gina Parris, 294-2322, Basement of Earle Infirmary, at the beginning of the term
(and before contacting me) in reference to the accommodations required.
MyEconLab: There will be many graded assignments using MyEconLab at
www.coursecompass.com. Students are expected to check the website daily for any new graded
or practice assignments. The homework assignments must be completed by 11:00 PM on its
corresponding due date. If a student misses a graded assignment, they will receive a zero. There
are no make-ups for these assignments. The purpose of these assignments is to give each student
a chance to practice and prepare for the exams.
Exams (4)
Final Exam
Class Participation
MyEconLab
GRADE COMPUTATION:
15% (x 4)
20%
10%
10%
100%
GRADING SCALE:
A
B
C
D
F
90-100%
80-89.9
70-79.9
60-69.9
0-59.9
STRUCTURE OF CLASS: The class will be primarily discussion/lecture. It is important that
students read the text material before class and work on questions/problems after the class
discussion.
I have three additional and very important requests:
1. If you do plan to attend class, be on time and do not leave until class is dismissed. Late
arrivals and early departures are very disruptive to your fellow students and to me.
2. Please avoid carrying on private conversations during class. This behavior shows
disrespect for your classmates who would like to hear the lecture and it can have a negative
impact on the learning experience of the entire class.
3. Please TURN OFF cell phones or any other electronic device before class begins.