EC 102A Principles of Economics - Micro
Fall 2002
Maurice R. Hoppie, Room 120 Nicarry Hall
Office Hours:
361-1277
Tuesday and Thursday 1:30-3:30 pm
Other hours available by appointment
Course content:
The course will cover microeconomic relationships, market
structure, resource allocation and pricing, among other areas.
As a supplement to substantive course material, students will study articles
from Economics (Annual Editions) 02/03, 31st. ed. Articles from Economics
02/03 discuss current and important economic issues, and further, are
expected to reinforce course work and expand students' intellectual horizon.
They are designed also to engender critical thinking by challenging students
to:
--Differentiate between fact and opinion
--Determine cause and effect relationships
--Compare and contrast information and points of view
--Develop inferential skills, and
--Make judgments, and draw logical conclusions1
Students will be required to prepare written reports from Economics 02/03,
thus improving their communication skills. With respect to written reports,
students will follow rules of composition concerning, for example, grammar,
sentence structure, spelling, punctuation, and so forth.
Further, students are advised to familiarize themselves with and avoid
plagiarism (all kinds). (See Harbrace College Handbook, pp. 424-427). To
plagiarize is to invite appropriate action from the instructor.
Note-taking/related Written Assignments: Portfolio
Students will prepare a portfolio which will include out of class written
assignments) on topics discussed in the assigned articles from Economics
(Annual Editions) 02/03. The portfolio will contain 4 articles which will be
due on the dates shown on the syllabus. Note: Students are advised that no
deviation from the guidelines above should be anticipated. Also, please note
the information above concerning composition and plagiarism. Students may
confer with the instructor before each assignment is attempted in order to
develop further insight concerning the topic and orientation in terms of
written presentation.
Grading Policy: The final grade for the course will depend upon the number scores
achieved with respect to:
a.
Portfolio
80 points (maximum)
Articles
Each article may receive a maximum of 20 points.
b.
Class examinations (2)
100 points each
c.
Comprehensive Final Exam
100 points
1Using
Economics (85/86) in the Classroom [Annual Editions].
CT: The Dushkin Publishing Group, Inc., 1985, p. 2.
Guildford,
Letter grades will be allocated accordingly:
Ave. Score
A
Distinguished
90
A89
B+
85-88
B
Above Average
80-84
B79
C+
75-78
C
Average
70-74
C69
D+
65-68
D
Poor
60-64
D59
F
Failure
58 and below
Attendance Policy: Each student is held responsible for regular class attendance.
Except for exigency or unforeseen circumstances, a policy of NO MAKE-UP
examinations will be enforced throughout the term. This also applies to
Article Reports.
Required Textbook:
McConnell, Campbell R. and Stanley L. Brue, Economics--Principles, Problems
and Policies, 15th ed. (New York, NY: McGraw-Hill Inc.,2002).
Note: Students are required to study the “Discover Econ 3.0
Software Tutorial,” by Gerald C. Nelson, that accompanies (is included
within) the text.
Cole, Don, ed. Economics (Annual Editions) 02/03, 31st ed.,
Guildford, CT: Duskin/McGraw-Hill, 2002.
Recommended:
Hodges, John C., et al., Harbrace College Handbook, 11th ed. (New York, NY:
Harcourt Brace Jovanovich, Publishers, 1990).
Kwayana, Eusi, Groovy Grammar (Georgetown, Guyana: Red Thread
Women’s Press, 1996.
Ruggiero, Vincent Ryan, The Art of Thinking: A Guide to Critical and
Creative Thought, (New York, NY: Harper and Row, Publishers,1984).
William B. Walstad and Robert C. Bingham, Study Guide to Accompany Economics
(McConnell and Brue), [New York, NY: McGraw-Hill, 2002].
Wyrick, Thomas L., The Writer’s Guide to College Economics (St. Paul, MN:
West Publishing Co., 1995).
EC102A
Dates
Tentative Course Schedule
Topics
Chapters
Part One: An Introduction to Economics and the Economy
Aug. M(26) W(28)
The Nature and Method of Economics
1
F(30) W(Sept.4) The Economizing Problem
2
Sept. F(6) M(9)
Individual Markets: Demand and Supply
3
W(11) F(13)
The Market System
4
M(16) W(18)
The U.S. Economy: Private and Public Sectors
5
ARTICLE REPORT #1
Part Five: Microeconomics of Product Markets
F(20)M(23)W(25) Demand and Supply:Elasticities & Gov’t Set Prices
20
F(27) M(30)
Consumer Behavior and Utility Maximization
21
Oct. W(2) F(4)
EXAMINATION
ARTICLE REPORT #2
M(7)W(9)T(15)
The Costs of Production
22
W(16) F(18)
Pure Competition
23
M(21) W(23)
Pure Monopoly
24
F(25) M(28)W(30) Monopolistic Competition and Oligopoly
25
ARTICLE REPORT #3
Part Six: Microeconomics of Resource Markets
Nov. F(1)M(4)
The Demand for Resources
27
W(6)
The Demand for Resources
27
F(8) M(11)
EXAMINATION
W(13)F(15) M(18) Wage Determination
28
W(20)F(22) M(25) Rent, Interest, and Profits
29
Part Seven: Microeconomics of Government
ARTICLE REPORT #4
W(27)(M)Dec. 2 Government and Market Failure
30
Part Eight: Microeconomic Issues and Policies
Dec. W(4) F(6)
Income Inequality and Poverty
34
Review
Final Examination
Thursday, Dec. 12, 2:30 – 5:30 pm
Notes:
Sept. 2(M): Labor Day – No Classes
Oct. 11-14: Fall Break – No Classes
Oct. 15(T): Monday Schedule
Oct. 16(W): Mid-term
Nov. 27(W): Friday Schedule
Nov. 28-Dec.1: Thanksgiving Recess
Economics 02/03
Articles
Unit 1
Introduction
No.
Overview, p. XVI.
1.
"How Much for a Life?
Try $3 million to $5 million," pp. 3-4.
2.
Building Wealth,” pp. 5-13.
Unit 2
Microeconomics
Overview, pp. 24-25.
6.
"Smoke Signals,” pp. 28-29.
7.
“Entrée Economics,” pp. 30-32.
8.
“How Burger King Got Burned . . . .,” pp. 33-35.
9.
“What Price Fairness?,” pp. 36-37.
14.
“The Real Price of Gas,” pp. 47-48.
17.
“Congested Parks – A Pricing Dilemma,” pp. 56-61.
Unit 3.
Income Distribution and Economic Justice
Overview, pp. 62-63.
18.
“Growing American Inequality: Sources and Remedies,” pp. 64-69.
20.
“Debating the Minimum Wage,” pp. 73-74.
Note
i) Students are encouraged to explore the World Wide Web Sites listed on pages
XIV-XV, since the resource material contained in these sites support the articles
in Economics (Annual Editions) 02/03.
ii) Students are also encouraged to study the “documents” on pages 199-209, and
review the “glossary,” pp. 210-221, as they study the above articles.
PORTFOLIO
ARTICLE REPORT NO. ____
Global Economics
Class Time_____________
Name________________________
Date________________________
Title and Number of Article
Note: Your Article Report (maximum 3 double-spaced typewritten pages) must
follow the “Standard Operating Procedure” (SOP)1 outlined below:
1.
2.
3.
4.
Define the problem, issue, or question.
Specify the a) goals or objectives, b) policy options, c) positions,
and d) economic concepts or principles.
Analyze the consequences, effects, and impacts, arising from Item #1,
in terms of the relevant economic concepts and principles.
Using Item #3, comment on Item #1.
1 Adapted from W. Lee Hansen, “Integrating the Practice of Writing into Economic
Instruction,” in William E. Becker and Michael Watts, eds., Teaching Economics to
Undergraduates: Alternatives to Chalk and Talk. (Northampton, Mass: Edward Elgar
Publishing Ltd, 1998).
INTENSIVE STUDY GUIDE FOR ACADEMIC SUCCESS
I. Planning:
A. Make a time plan
1. Make a calendar for the week with every waking hour of your day blocked out.
2. Fill in your class periods.
3. Organize your study time--fill in the time slots for studying for each of
your classes.
4. Organize your free time; fill in slots for it too.
B. Implement
1. Use your time plan!
II. Knowledge:
A. Read
1. Deliberately and slowly.
2. For knowledge and understanding.
3. For information.
B. Reinforce your knowledge
1. Make your own notes.
2. Do assignments, exercises, problems, or readings at the end of text
chapters.
a.
use your knowledge
b.
test your knowledge
c.
use notes--yours from reading and yours from class
d.
question--if needed, seek specific information from your text
e.
THINK and REASON
III. Application:
A. Use study guide
1. Do exercises/problems etc. for each chapter at the time the chapter is
assigned.
2. Use:
a.
knowledge
b.
notes
c.
if unsatisfied with understanding based on above, then seek specific
information from your text
3. Confirm.
a.
only at this stage should you review your answer with that in your
study guide
B. Consolidate your knowledge
1. Work with other students in your class.
2. Be familiar with "important terms".
3. Use material provided in class by your instructor to enhance
understanding.
4. Use the exercises and cases and activities from the classroom
--search for increased understanding.
your
IV. Be Serious With Yourself:
A. Your are in business for yourself.
like you will.
No one else will benefit from your efforts
B. Your are in business for yourself.
effort like you will.
No one else will suffer from your lack of
C. Being a student is a full-time job. Each hour in class requires three hours of
preparation (reading, writing papers, research, thinking, reviewing,
etc.). If you are enrolled in 16 hours of study, this means 48
hours of prep time. Include the 16 hours in class and you have a 64
hour week. (See I A above!)
D. Being in good mental condition requires being in good physical condition.
Exercise regularly in some activity you enjoy that allows you to
stretch yourself physically.
Flags for Composition
1.
Bad Sentence Structure/Better Paragraph Structure
2.
Verb/Tense
3.
Coherence/Clarity/Connection
4.
Punctuation
5.
Verbiage/Redundancy
6.
Poor Phrasing
7.
Transition
a. Sentence
b. Paragraph
8.
General / Point not made / Specifics
9.
Spelling
10.
Poor Development/Logic
11.
Outline/Paper--Form
12.
Bibliography
13.
Ineffective Writing
14.
Combine Para(s)
15.
Poor/Limited Research Effort / Poor Scholarship
16.
Disjointed Ideas/Themes
17.
Poor Comprehension of Situation(s)
18.
Extraneous