Introduction to Microeconomics Econ 221 Diablo Valley College M.Giuili Course Description Second term of a two-semester sequence. Microeconomics takes a closer view of demand and supply, elasticity, looks at pricing of goods and services, pricing of factors of production, international trade, income distribution and discusses different microeconomic topics. Scope of the course: Basic economic methodology Basic analysis of prices, demand and supply Behavior of firms in different markets Market for factors of production Microeconomic issues International trade Material you will be responsible for: -“Economics Today: the Micro View” by Miller (15th ed) – required text – - “Course Compass /My Econ Lab” code required -Occasional handouts -Articles from Business Week and online articles Students will be responsible for the following: - Read the appropriate chapter and listen to the videotaped lecture dealing with the topic to be discussed that week - Work online when not in class - Attend and participate in class - Take two midterms and a final - Take weekly quizzes and homework (on line) Coursecompass/My Econ Lab - Hand in occasional assignments Your final grade will be computed in the following manner: - 25% Midterm I - 25% Midterm II - 30% Final Exam - 10% Quizzes - 10% Homework Exam 1 and exam 2 will be 80% multiple choice and 20% essays, while your final will be comprehensive and include current events topics (50% essays and 50% multiple choice) NOTE: - every hour of lecture time ought to be complemented with 2 hours of work outside of class - Instructor will not drop students after the first week of class. - There will be no make ups for quizzes, homework or midterms. The instructor will drop one quiz and one homework for situations of emergency. Only typed material will be accepted as homework and a ruler will be used for graphs. Econ tutors will be available free of charge in the Tutoring Center and online. The discussion board should be used to communicate with colleagues, to ask and answer questions about the text and lecture material. Video taped lectures are available online and you are encouraged to listen to the video as a preparation for the class lecture. Economics is a logical science. It uses different methods of expressing the information and can easily be applied to current events and your lives. Take the time to understand and not memorize the information. Do not look for shortcuts, proceed through the material according to the tentative schedule and do not cram. Understanding the material will allow you to apply it and thus reinforce what you have learned. I know that if you apply these simple rules you will actually enjoy economics. Welcome to Econ 221!!