University of South Florida Sarasota-Manatee Course Syllabus
ECO 2023-521, 3 Credit Hours
Principles of Microeconomics
Spring 2014, SMC B226
Instructor: Victoria A. Perk
E-Mail:
perk@cutr.usf.edu
Office: (main office CUT 229 in Tampa)
Office Telephone: 813-974-7327 (Tampa)
Office Hours: Tuesdays, 11:30 a.m. – Noon and 5:30 –
6:00p.m. in SMC rotunda or by appointment
PREREQUISITES: n/a
COURSE DESCRIPTION: This course is an introduction to the fundamentals of microeconomics. Microeconomics
studies individual consumer and firm behavior and how their decisions affect market outcomes. Some topics include
supply and demand, the theory of the firm, and consumer behavior. The course will also introduce economic methodology
including creating arguments, empirical verification, and policy decision-making. Upon completion of the course you
should have a basic understanding of the choices facing consumers and firms, and the workings of different market
structures.
COURSE TOPICS: This course will cover the following content areas:
1. Economics foundations and demand/supply analysis
2. Consumer surplus, producer surplus, and economic efficiency
3. Externalities and public goods
4. Elasticity
5. Consumer behavior theory
6. Production theory
7. Profit maximization
8. Basics of four market structures: perfect competition, monopolistic competition, oligopoly, and
monopoly
COURSE OBJECTIVES: Economics is primarily a method of reasoning used to form judgments regarding economic
issues faced today. At the end of the term the student should be able to make logical economic arguments as well as
analyze the appropriateness of alternative arguments based on the analysis developed in this course. Specifically:
1.
Understand the terms and concepts economists use to describe individual, firm,
government, and societal behavior.
2. Understand the effects of government policies or other events on society’s allocation of
resources.
3. Understand the nature of market failures.
4. Understand how firms make production, pricing, and hiring decisions, and how those
decisions depend on costs and the degree of competitions firms face.
.
COURSE STUDENT LEARNING OUTCOMES: Upon completion of this course the student will be able to:
1. Define the terms and concepts economists use to describe individual, firm, government, and
societal behavior.
2. Predict or evaluate the effects of government policies or other events on society’s allocation of
resources using supply and demand analysis.
3. Illustrate the welfare loss resulting from market failures such as externalities, determine
government policies to address those failures, and evaluate the policies.
4. Show how firms make production, pricing, and hiring decisions, and how those decisions depend
on costs and the degree of competition firms face using graphical analysis and simple equations.
TEXT AND MATERIALS:
Textbook: Hubbard and O’Brien, Microeconomics w/access to MyEconLab, 4th Edition, Prentice Hall/Pearson, 2013,
ISBN 9780132961660
On-line homework (and optional quizzes): MyEconLab http://pearsonmylab.com
Computer: You need a computer that can access Canvas and the MyEconLab Homework. Please consult:
http://pearsonmylabandmastering.com/system-requirements
Both the Hubbard and O’Brien textbook and Pearson MyEconLab are required for this course. You can purchase the
textbook with access card to MyEconLab at the USF bookstore; you can also purchase access to MyEconLab directly
online. The “Pearson eText” link for our course in MyEconLab will take you to the etext and the “Chapter Resources” link
will take you to the study guide, publisher’s PowerPoint slides, etc. for each chapter, so purchasing access directly could
save you some money.
To register for the Lab, please make sure you are following the instructions under `Register for MyEconLab'. You must
use our course ID: perk03941. Students that elect to purchase the lab and/or e-text online will be prompted during the
registration process to pay online (there is no access code needed for this registration option). Pearson's also offers free
temporary access to MEL, therefore if you are waiting for financial aid or would like to access the site before purchasing
full access you may do so by going to http://pearsonmylab.com and following the instructions.
CANVAS USE:
The class syllabus is posted in Canvas, an online course management system. In this class, all handout materials, exam
tips, and other important notices will be posted on Canvas. Information on how to use Canvas is available at:
http://www.usfsm.edu/infocommons/students.php
COMPUTER LAPTOP USE
USFSM requires all students to have laptops that can be brought with them to class. Students may use their laptops in class
to take notes, and may be required to use them to submit written assignments during exams (please see Course Schedule).
GRADING, EVALUATION AND ATTENDANCE POLICIES:
There will be three non-comprehensive exams during the semester. Due dates for the MyEconLab Homework and
the time and date of each exam are in the Course Schedule at the end of this Syllabus.
Exam/Homework Information:
 To allow for technical problems or emergencies that might occur, your two lowest MyEconLab Homework
scores (out of 10) will be dropped before computing your MyEconLab Homework grade at the end of the
semester. You should study the relevant chapter before you do the homework and strive to earn the best score
you can (you have two attempts for each homework assignment, so you should be able to do quite well).
Homework must be submitted by 11:59 p.m. on the due date. WATCH DUE DATES!! Homework
assignments will NOT be re-released after the due date has passed – see the first sentence of this paragraph.
 There are 10 optional MyEconLab Quiz assignments that will not impact your grade at the end of the
semester. The idea of the quizzes is to use them to learn economics! It is also a good idea to work the quiz
before doing the homework for a particular chapter.
 Questions on all exams will be based on material in the Hubbard and O’Brien textbook, the lectures, and may
include modified MyEconLab questions.
 The exams will cover only those chapters indicated in the Course Schedule.
 Exams will be 75%-100% multiple choice and 0-25% short written essay, which must be submitted
electronically via Canvas during the exam time (so be sure to have your laptop on exam days!).
Grading:
Your grade in the course will be based on three exams and the MyEconLab Homework, as follows:
Exam 1 – 25%
Exam 2 – 25%
Exam 3 – 25%
MyEconLab Homework – 25%




A "plus-minus" grading system will be used.
Grading Scale: 97-100 = A+; 93-96 = A; 90-92 = A-; 87-89 = B+; 83-86 = B; 80-82 = B-; 77-79 = C+;
73-76 = C; 70-72 = C-; 67-69 = D+; 63-66 = D; 60-62 = D-; 59 or less = F.
NOTE: Rounding up to the next grade category requires an average ending in 0.50 or higher.
Exam grades will be posted on Canvas as the percentage of questions you answered correctly.
A grade of I (incomplete) will be granted only if the student meets the requirements specified in the
Undergraduate Catalog.
Attendance Policy:
It is expected that students will attend every class meeting. However, attendance will not be taken (except on the
first day). Students who expect high grades understand that attending class regularly is a good idea. It is also
expected that you will come to class prepared, with a copy of the Handouts that will be available for download, and
having read the assigned chapters.
Make-Up Work:
Students with a valid documented excuse who miss (or will need to miss) an exam will be able to take a make-up
exam on an alternate date. Absences for exams will be excused with a valid documented reason only by prior
arrangement except for emergency situations which, of course, must be documented. If you are ill, you must call
my Tampa office and leave a message (813-974-7327) and/or send me an e-mail before the exam to let me know
that you will be providing me with a valid documented excuse. Missing an exam without a valid documented excuse
will result in a zero for the exam.
USFSM AND USF SYSTEM POLICIES
A. Academic Dishonesty: The University considers any form of plagiarism or cheating on exams,
projects, or papers to be unacceptable behavior. Please be sure to review the university’s policy in the
catalog, USFSM Undergraduate Catalog or USFSM Graduate Catalog, the USF System Academic
Integrity of Students, and the USF System Student Code of Conduct.
B. Academic Disruption: The University does not tolerate behavior that disrupts the learning process.
The policy for addressing academic disruption is included with Academic Dishonesty in the catalog:
USFSM Undergraduate Catalog or USFSM Graduate Catalog, USF System Academic Integrity of
Students, and the USF System Student Code of Conduct.
C. Contingency Plans: In the event of an emergency, it may be necessary for USFSM to suspend normal
operations. During this time, USFSM may opt to continue delivery of instruction through methods that
include but are not limited to: Canvas, Elluminate, Skype, and email messaging and/or an alternate
schedule. It’s the responsibility of the student to monitor Canvas site for each class for course specific
communication, and the main USFSM and College websites, emails, and MoBull messages for
important general information. The USF hotline at 1 (800) 992-4231 is updated with pre-recorded
information during an emergency. See the Safety Preparedness Website for further information.
D. Disabilities Accommodation: Students are responsible for registering with the Office of Students
with Disabilities Services (SDS) in order to receive academic accommodations. Reasonable notice
must be given to the SDS office (typically 5 working days) for accommodations to be arranged. It is
the responsibility of the student to provide each instructor with a copy of the official Memo of
Accommodation. Contact Information: Disability Coordinator, 941-359-4714,
disabilityservices@sar.usf.edu, http://www.usfsm.edu/students/disability/
E. Fire Alarm Instructions: At the beginning of each semester please note the emergency exit maps
posted in each classroom. These signs are marked with the primary evacuation route (red) and
secondary evacuation route (orange) in case the building needs to be evacuated. See Emergency
Evacuation Procedures.
F. Religious Observances: USFSM recognizes the right of students and faculty to observe major
religious holidays. Students who anticipate the necessity of being absent from class for a major
religious observance must provide notice of the date(s) to the instructor, in writing, by the second week
of classes. Instructors canceling class for a religious observance should have this stated in the syllabus
with an appropriate alternative assignment.
G. Web Portal Information: Every newly enrolled USF student receives an official USF e-mail
account. Students receive official USF correspondence and Canvas course information via that
address.
GENERAL INSTRUCTION FOR STUDENTS
 All cell phones, laptops, and other electronic devices must be silenced and/or turned off during class.
Please note that laptops are allowed in class for note-taking, but all sounds must be muted.
 All course announcements and handouts will be available via Canvas. You must be able to access Canvas
and check the e-mail address associated with it on a regular basis.
 Students are responsible for downloading class handouts (mostly PowerPoint and related articles) from
Canvas.
 The handouts, in PowerPoint presentation form, are not complete, i.e., students must attend class to fill in
information such as additional notes, examples, and graphs.
 Class lectures may not be recorded in any fashion without the instructor’s prior approval.
COURSE SCHEDULE:
Prior notice will be given of any changes. Please note: the last day to drop with a “W” grade is March 22.
week
date
1
1/7
Course Intro, Ch 1 (Economic Foundations), Ch 3 (Demand & Supply)
Topic, Due Dates
2
1/14
NO CLASS – Instructor away at national conference
3
1/21
Ch 3 (Demand & Supply), Ch 4 (Consumer/Producer Surplus, Efficiency)
4
1/28
Ch 4 (Consumer/Producer Surplus, Efficiency)
5
2/4
Ch 5 (Externalities & Public Goods), Exam review
6
2/11
EXAM 1
7
2/18
Ch 6 (Elasticity)
8
2/25
Ch 6 (Elasticity), Ch 10 (Consumer Theory)
9
3/4
Ch 10 (Consumer Theory), Ch 11 (Producer Theory)
--
3/11
SPRING BREAK
10
3/18
Ch 11 (Producer Theory), Exam review
11
3/25
EXAM 2
12
4/1
Ch 12 (Perfect Competition)
13
4/8
Ch 13 (Monopolistic Competition)
14
4/15
Ch 14 (Oligopoly), Ch 15 (Monopoly)
15
4/22
Ch 15 (Monopoly), Exam review
16
4/29
EXAM 3
MyEconLab Homework Due Dates:
HW
Chapter
1
1
Due Date
(Saturdays)
1/18
2
3
1/25
3
4
2/1
4
5
2/8
5
6
3/1
6
10
3/8
7
11
3/22
8
12
4/12
9
13
4/19
10
14-15
4/26