Ocean County College
Professor’s Course Information Sheet
Professor’s Name:
Dr. V. A. Reilly
Course Title and Number:
Microeconomic Principles – ECON 152/DL
Catalog Description:
This course is an intensive study of supply and demand analysis. Theories and principles of market
behavior are examined and applied to economic issues related to production, consumption, and
distribution.
Office Location:
Instruction Building, Room A-320
Phone Number:
732-255-0400 ext. 2430
E-Mail Address:
vreilly@ocean.edu
Office Hours:
8:30 - 9:30 AM Monday, Tuesday, Thursday, and Friday
Other Meeting Times: To arrange a meeting with your instructor in addition to the regularly
scheduled office hours, please contact your instructor directly or contact the Department of
Social Science and Human Services (Phone: 732-255-0390).
Required Text and other Materials:
Microeconomics: Principles, Problems, and Policies
McConnell, Brue, and Flynn – 19th edition – 2011
ISBN #978-0-07-744162-1
Course Pre-Requisites: None
General Education Goals:
 To develop the ability to become an independent thinker through mathematical, scientific, and
philosophical reasoning.
 To develop the ability to solve problems by collecting, organizing, and evaluating information.
 To develop both the ability and moral sensitivity needed to make informed judgments
concerning ethical issues.
Microeconomics - Online
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To develop to develop a historical consciousness, including the ability to reflect thoughtfully
and accurately about historical and contemporary issues of local, national, and global
importance.
To develop a global perspective on problems and issues that humankind faces, and to explore
solutions which are morally, socially, economically, politically, and ecologically sound.
To develop and demonstrate civic and social responsibility.
To develop an understanding of technology and its impact on society, and the environment.
Course Learning Outcomes/Objectives:
At the end of the course, students will have a basic understanding of the following economic
concepts:
 Describe the basic concepts of the price elasticity coefficient for demand and supply (elastic,
inelastic, and unit elastic); illustrate the affect of time on the price elasticity of supply.
 Analyze the concepts of utility, marginal utility, the law of diminishing marginal utility and how
they relate to price elasticity of demand.
 Compare and contrast the fixed and variable costs; summarize the marginal-cost concepts and
the law of diminishing marginal returns concept.
 Compare and contrast the four basic market models: pure competition, pure monopoly,
monopolistic competition, and oligopoly.
 Describe the components of anti-trust laws (Sherman, Clayton, FTC, etc.), as well as three
major anti-trust cases (U.S. Steel, Alcoa, and Dupont Cellophane). Also included are: the three
types of mergers: horizontal, vertical, and conglomerate.
 Identify the basic concepts involving Poverty: the distribution of income in the United States
and the Lorenz Curve (graphic representation of that distribution); the major causes of income
inequality; the social insurance programs and public-assistance programs.
 Describe the basic terms and concepts used in regard to labor unions.
 Identify the basic facts concerning the health care industry; problems connected with rising
health care costs and insurance coverage; characteristics; increased demand; role of
physicians; basic reform proposals; fundamentals of the National Health Insurance; explain how
insurance company deductibles, co-payments, and preferred provider organizations might help
contain health care costs.
 Understand the legal and illegal immigration of people (workers) to the United States from
abroad, including what motivates an individual to migrate, the factors influencing the decision
to migrate, the potential impact immigration can have on wage rates, efficiency, and output, and how
immigration can affect income shares.
 The concept of international trade and protectionism: important facts about world trade; how
international specialization based on comparative advantage can mutually benefit participating
nations; supply and demand analysis to help understand prices and quantities of imports and
exports; the economic impact of trade barriers with arguments for protectionism; the costs of
protectionism and some continuing international trade controversies.
Unit Learning Objectives can be found in the Learning Modules for each chapter.
Microeconomics - Online
Course Standards:
 Students are expected to be prepared. This preparation includes: reading of the textbook
chapters, reviewing PowerPoint Presentations, participating in class discussions, completing
all exams and assignments.
 Student grades will be calculated based on four online exams, discussion board postings, and
assignments.
 Student grades will be calculated by:
 Four online exam scores @15% 60%
 Discussion Board (5)
20%
 Internet Assignment (10)
20%
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Online Exams:
 These are timed and each will consist of multiple choice and true/false questions.
 Online exams must be completed within the allowed time frames (see Course Calendar
for dates and times).
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Discussion Board:
 There is a separate forum created for each of the five (5) discussion board topics that
we will address this term. There will be a question or statement posted in each forum.
 For each forum, you are required to post an original commentary (approximately 250
words) on the material and to make a comment (approximately 100 words) on another
student's original commentary. Check the Course Calendar for timeframe when each
can be posted. The forum will be closed at 11:00 PM on date specified.
 These postings will be graded on completeness of response for both original and
commentary on classmates posting within one week from the closing date. Both entries
must be posted for full points. After the forum is locked, no further points can be
earned. See Grading Rubric under Course Information.
 While I read every post, I do not have the time to respond to or comment on every post.
This does not mean that your post was not great. It just means that I have nothing to
add or already said it earlier. After years of online teaching, I have also discovered that
I go through periods where I get engaged in discussions and other periods where I just
sit back and read. If I miss something or you want me to react to something, please let
me know. You are required to read all posts as this is one way you will learn the material.
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Internet Assignments:
 Students will select ten (10) Internet Questions from a list of web-based questions as
listed in Course Information section and the Internet (Web-Based) Assignments.
 Each will be worth ten (10) points for a total of 100 points; this will constitute 20% of
your course grade.
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Due dates for each assignment will be found on the Course Schedule and Due Dates.
Assignments may be submitted earlier, but there is a penalty for late submissions.
Two (2) points will be deducted for each day the assignment is late. Each assignment will
then be graded for content and completeness.
Each assignment must be uploaded into the course Dropbox on the horizontal menu. Do
not these via email as they will NOT be graded.
After the due date, assignment grades will be posted to the student’s individual grade
file within two weeks.
Through the Online Exams students will reinforce the basic principles and theories of
Macroeconomics. The Discussion Board will provide a practical application of these economic
theories. Utilizing the Internet Assignments, students will learn to make a practical application of
economic theories through Internet sites.
Additional Information: Students must remember to check the Calendar, Private E-Mail and
Discussion Board on a regular basis. E-mails will be responded to within 48 hours unless special
circumstances occur.
Grade Scale:
A
B+
B
C+
C
D
F
Excellent
Very Good
Good
Above Average
Average
Passing – Below Average
Failure
90 +
86 – 89
80 – 85
76 - 79
70 – 75
60 – 69
below 59
Withdrawal Policy – NEW POLICY:
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Until the OCC cutoff date, any student wishing to withdraw (Grade = W) may do so for any
reason by e-mailing a request to the professor. The student must obtain a drop/add form from
Admissions (you can request that Admissions mail it to you if you do not come to campus). Once
completed and signed by the student, it should be mailed to the professor (at Business Dept.,
Ocean County College, Toms River, NJ 08754). It is the student's responsibility to insure that
the proper form is submitted to the professor in a timely manner so that it can be processed
by the cutoff date.
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After the OCC cutoff date to be named, if a student stops attending or is administratively
withdrawn, a grade of “F” will be assigned.
Microeconomics - Online
Unit One
Chapter 08 Pure Competition in the Short Run
Chapter 10 Pure Monopoly
Chapter 11 Monopolistic Competition and Oligopoly
Unit Two
Chapter 03
Chapter 04
Chapter 06
Chapter 07
Demand, Supply, and Market Equilibrium (Review)
Elasticity, Consumer Surplus, and Producer Surplus
Consumer Behavior
Businesses and The Costs of Production
Unit Three
Chapter 18 Antitrust Policy and Regulation
Chapter 20 Income Inequality, Poverty, and Discrimination
Chapter 21 Health Care
Unit Four
Chapter 22 Immigration
Chapter 23 International Trade
Chapter 24 The Balance of Payments, Exchange Rates, and Trade Deficits
Academic and Student Support Services:
Students will find a number of useful and informative services under Web Links, located on the
left side menu of the course.
Navigational Assistance:
On the upper-level tab under Webliography, students will find a link to the e-College Student
Tutorial. This should provide basic information to guide you through the course site. Additional
information on technical items can be found by contacting the free 24/7 hotline at 1-877-7402213 or website: http://247support.custhelp.com/app/ask
Minimum Technical Requirements:
To be successful in this course, students need basic computer skills especially in using Word
Processing software and the Internet. It is the student’s responsibility to have reliable access to
a computer, either at home, work, or on campus. No previous knowledge of economics is required
for this course as it covers introductory material.
Internet Etiquette:
Students will find information on the proper Internet netiquette on e-College under Web Links Academic Resources – Core Rules of Netiquette.
Microeconomics - Online
Statement of Plagiarism: Plagiarism is defined as taking the words or ideas of another person
without documenting them. A form of academic theft, the college holds that any instance of
plagiarism may result in a failing grade. Students should refer to the student handbook (Policy
#5180).
Statement about Civility:
Students are expected to behave in an appropriate academic manner while on the OCC campus or
utilizing any OCC course sites. See www.ocean.edu/civility.htm
Campus Resources and Services: Tutoring is available [a] in the Writing Center for writing
assignments in all subject areas, not just English courses, and [b] in the Mathematics Tutoring
Center. Tutoring information for all other subjects can be found on the Tutoring page on the
college website. In addition, Study Strategy Seminars are scheduled each week and are posted
on the college website under “Academics.” More information on college services can be found by
using the A-Z index on the college website (for example, under “T” for Tutoring or under “S” for
Study Strategy Seminars).
Statement of Accommodation: If there is any student in this class who has special needs
because of learning disabilities or other kinds of disabilities, please feel free to come and discuss
this with me or a staff member in the Center for Academic Excellence.
Disclaimer: Individual faculty members may make reasonable changes to this course outline
exclusive of course requirements, course calendar, and grading procedures.
All individuals should not assume that anything received, sent, or stored in this course or in any
course is private. Students’ written work, assignments, and test results may be used anonymously
for college assessment purposes. Course content, support materials, and communications (including
chats, discussions, emails, and any other forms of communication) may be used for quality
assurance purposes by authorized college administrators.
Important Notes
Ocean Cruiser is the official email communication for students at OCC
(firstname_lastname@occ.mailcruiser.com)
Failure to pay for this course may result in your being dropped for non-payment.
Prepared: January 2012 {var}
Microeconomics - Online