VALENCIA COLLEGE ECO 1000 – Basic Economics Class Policies & Course Syllabus CRN 14457, Fall 2015 COURSE DESCRIPTION: This course is an introduction to economic theory and fundamentals of economic analysis. Emphasis is on the study of key macroeconomic and microeconomic concepts: market structure, supply and demand, prices, factors of production, national income and its effects on competition, monopoly and oligopoly. It also introduces the student to the concepts of consumption, saving and investment, government spending, money and banking, problems of inflation and unemployment, international trade and its impact on domestic economic activity. GENERAL COURSE OBJECTIVES: Describe the role of the major participants in the economy and how they affect it. Recognize the role that self-interest and rational behavior play in the decision-making process. Identify the key variables necessary for assessing the status of the economy. Understand how scarcity frames the basic economic decision-making process and resource allocation. Understand the basis for and implications of international trade. Understand the market system and how prices are established. Use the role of theory and economic models to analyze individual, business and government decisions. Describe the concept of profit and the components that impact profit in a market economy. Comprehend the various market structures on prices, output and profit. Understand the historical rationale for and impact of government involvement in the micro economy (cultural and historical understanding). CREDIT HOURS: 3 PREREQUISITES: None CLASS MEETING ROOM: West Campus, Building 11, Room 340 DAY/TIME: Tuesdays @ 4:00 – 6:45 p.m. PROFESSOR: Kleber Saavedra OFFICE: College Business Office, Bldg 11, Room 103 PHONE: 407-582-1203 College EMAIL: ksaavedra@valenciacollege.edu REFUND OF FEES September 8, 2015, 11:59 p.m., is the drop deadline by which students are still eligible to get back tuition and refundable fees. 1 SCHEDULED OFFICE HOURS I don’t have an office on campus, but I am available on an “as-needed” basis to assist you on matters related to the course. I can meet with you before or after class, or at any other mutually convenient time. Just see me, or contact me by phone or e-mail to set up an appointment. I usually respond to emails within 24 hours of receipt. I strongly recommend that you check your atlas email at least once daily. Valencia College is committed to providing each student a quality educational experience. Faculty members have set high standards of instruction for themselves and for you. If you have a problem in a class, your first step is to talk to your instructor. If you are still dissatisfied, you may talk with the academic dean of the division for your class. We will work together to resolve any issues that arise. TOPICS/AREAS COVERED 1. Limits, Alternatives and Choices. Graphs 2. The Market System & the Circular Flow 3. Demand, Supply & Market Equilibrium 4. Elasticity of Demand & Supply 5. Market Failure, Public Goods and Externalities 6. Businesses and their Costs 7. Pure Competition 8. Pure Monopoly 9. Monopolistic Competition & Oligopoly 10. GDP & Economic Growth 11. Business Cycles, Unemployment & Inflation 12. Aggregate Demand & Aggregate Supply 13. Fiscal Policy, Deficits and Debt 14. Money, Banking & Financial Institutions 15. Interest Rates and Monetary Policy 16. International Trade & Exchange Rates These topics may be covered as discrete topics and/or integrated with other topic areas at the discretion of the professor. It should be understood that this topic knowledge is the minimum level for a grade of D or better. These topics may be expanded at the discretion of the professor and are in no way intended to be comprehensive or all-inclusive. Valencia College Core Competencies The faculty of Valencia College has identified four core competencies that define the learning outcomes for a successful Valencia graduate. These competencies are at the heart of the Valencia experience and provide the context for learning 2 and assessment at Valencia College. You will be given opportunities to develop and practice these competencies in this class. The four competencies are: 1. Think - think clearly, and creatively, analyze, synthesize, integrate and evaluate in the many domains of human inquiry 2. Value - make reasoned judgments and responsible commitments 3. Communicate - communicate with different audiences using varied means 4. Act - act purposefully, effectively and responsibly.” This course reinforces these four Valencia Student competencies. REQUIRED EDUCATIONAL MATERIALS: Essentials of Economics, 3rd Edition, by McConnell, Breu and Flynn. EVALUATION: Tests and Assignments: There will be three tests during the term. These tests will be comprised mostly of multiple choice and true/false questions each. Students must take the tests at the designated dates and times shown on the last page of this syllabus. A student who fails to take test one or two at the designated date and time because of a valid, written emergency (as defined by the instructor) will be allowed to take a make-up test at the testing center without any penalty. Otherwise, if no written proof of valid emergency is provided, the student will be penalized 10% of the test grade. There is no provision for taking the final exam past the specified date and time. There will be one individual course project. The project may be, at the option of the student, 1) a written (typed) term paper – or oral presentation - on a topic selected by the student from the list provided in Black Board; OR, 2) a hypothetical financial plan. If term paper, it must be at least five pages long (not including cover page and works cited page), double-spaced, in font no larger than 12pt, and must include the pros and cons and personal conclusion on the topic discussed. Format may be MLA or APA. Works cited page is required. If oral, presentation must be between 5-10 minutes long, and also include pros and cons and personal conclusion. Students electing to do an oral presentation MUST notify the instructor, IN WRITING (email), of their intention to do so no later than November 2; otherwise, a written term paper will be required. The hypothetical financial plan must be in writing (typed). The term paper or hypothetical financial plan must be submitted in person (not by email) on the date specified in the schedule at the end of this syllabus. Late term papers or hypothetical financial plans will be penalized 10% for each day late (including weekend days), and none will be accepted after the final exam. 3 There will be more than seven (but no more than ten) quizzes during the course, with the seven with the highest score accounting for 30 points each. Quizzes will be in the form of multiple-choice and/or short-answer questions and problems, and MAY be taken at the beginning of each session and prior to covering the material in class. No “make-up” quizzes are allowed. There will be three group online discussions that will take place through Blackboard. Each discussion will count for 30 points. Discussion topics will be selected at the beginning of the course, and due dates to complete discussions in Blackboard are included in the schedule of this syllabus (last page) and in Blackboard. Note that there are two deadlines for each discussion: one for each individual student’s initial post, and the second for the individual student’s response/feedback to at least four of his/her peers in the group. Any student who does not post his/her initial post by the deadline for such post, will not be allowed to participate in the rest of that discussion and will receive a grade of zero on it. Wrap-up discussions for each topic selected may take place in the classroom, time permitting, as specified in the schedule (last page). Grading Policy: Percent: 3 Tests 15, 20, 25 1 Course Project (paper, OP, or financial plan) 10 7 Quizzes (points: 30 each) 21 3 Online (BB) discussions (points: 30 each) 9 Points 150, 200, 250 100 210 90 The sum of these will determine a letter grade, as follows: 90% - 100% A 80% – 89% B 70% – 79% C 60% – 69% D 0% - 59% F Withdrawal Policy: A student who withdraws by the withdrawal deadline of November 13, 2015, will receive a grade of “W.” A faculty member is permitted to withdraw a student from the faculty member’s class up to the beginning of the final exam period, for violation of the faculty member’s attendance policy, as published in the faculty member’s syllabus. A student is not permitted to withdraw from this class after the withdrawal deadline. If you remain in the class after the withdrawal deadline, you can only receive a grade of "A", "B", "C", "D", "F" or “I” based upon your academic achievement upon the completion of all course work, including the required final examination. An “I” grade will only be assigned under extraordinary circumstances that occur near the end of the semester. If you receive an “I” the work missed MUST be made up during the following semester, at which time you will get an “A”, “B”, “C”, “D” or “F”, depending in your academic performance for the entire course. Failure to make up the missed work during the following semester will result in your getting a grade of “F” in the course. Any student who withdraws from the class during a third or subsequent attempt in this course will be assigned a grade of “F.” The grades of 4 “WP” and “WF” are eliminated. The professor will not withdraw any student for any reason before the withdrawal deadline. It is the responsibility of the student to withdraw before the withdrawal deadline, and to be aware of the date of the withdrawal deadline. Students on financial aid should consult a financial advisor or counselor before withdrawing from a course, as there may be financial implications to the student. In order to academically maintain financial aid, students must meet all of the following requirements: Complete 67% of all classes attempted, and Maintain a Valencia GPA of 2.0 or higher, and Maintain an overall GPA of 2.0 or higher, and Complete degree within the 150% timeframe Detailed information about maintaining satisfactory academic progress (SAP) can be found at: http://valenciacollege.edu/finaid/satisfactory_progress.cfm NOTE ON SECURITY We want to reassure you that our security officers are here around the clock to ensure the safety and security of the campus community. It’s important to remain alert and aware of your surroundings, especially during the early morning or evening hours. Remember that you can always call security for an escort if you feel uncomfortable walking alone on campus. White security phones can also be found in many of our buildings; simply pick up the phone and security will answer. Finally, report any suspicious persons to West Campus Security at 407-582-1000, 407-582-1030 (after-hours number) or by using the yellow emergency call boxes located on light poles in the parking lots and along walkways. EXTRA CREDIT POLICY There will be NO extra credit for any individual test, quiz or any other assignment. Depending on overall scores in the class toward the end of the course, and at the discretion of the instructor, there may be an overall CURVE that would benefit all students equally. No exceptions or other accommodations will be given to earn extra points.” CLASSROOM POLICIES: 1. Valencia's attendance policy is that a student will be present for all class meetings. After two absences, a student may receive an excessive absence notice and must schedule a conference with the instructor immediately. A 5 2. 3. 4. 5. student may be withdrawn after four absences (excused or unexcused). Continual tardiness will be viewed as absences and treated as such. Two occurrences of being tardy will equal one absence. A student coming in more than 15 minutes late will be counted as absent for that day. A student is responsible for all material covered during absences. Make-ups for scheduled tests must be requested before the test date and are subject to approval of the instructor. Unscheduled tests cannot be made up. There will be no eating or drinking in the classroom. Class begins at a scheduled time and is over when the instructor dismisses class. Leaving early without prior permission will result in a class-work grade of zero and an absence. Students must have an active Atlas account. Students must check their Atlas e-mails regularly as to not miss any important messages from the professor. Missed messages via Atlas or any other medium (in-class, etc.) may affect your grade and are the responsibility of the student. Students must also access Blackboard on a regular basis to complete assignments and other activities, as assigned. Students with disabilities who qualify for academic accommodations must provide a letter from the Office for Students with Disabilities (OSD) and discuss specific needs with the professor, preferably during the first two weeks of class. Accommodations will not be applied retroactively. The Office for Students with Disabilities determines accommodations based on appropriate documentation of disabilities (West Campus SSB, room 102, phone: 407-582-1523). BAYCARE BEHAVIORAL HEALTH’S STUDENT ASSISTANCE PROGRAM (Private counseling) Valencia is committed to making sure all our students have a rewarding and successful college experience. To that purpose, Valencia students can get immediate help that may assist them with psychological issues dealing with stress, anxiety, depression, adjustment difficulties, substance abuse, time management as well as relationship problems dealing with school, home or work. Students have 24 hour unlimited access to the Baycare Behavioral Health’s confidential student assistance program phone counseling services by calling (800) 878-5470. Three free confidential face-to-face counseling sessions are also available to students STUDENT CODE OF CLASSROOM CONDUCT Anything that is deemed disturbing to the students or instructor will not be allowed during class time. This includes any disturbance that is created from a device (cell phone, etc.). Continual disturbances will be grounds for removal from the classroom. Laptops are also prohibited in class, unless they are used for taking notes, or other matters related to the classroom activities. 6 ACADEMIC DISHONESTY Students must do their own work; there are no exceptions. Students who plagiarize or cheat risk dismissal from the class and expulsion from the college. Each student is required to follow Valencia policy regarding academic honesty. All work submitted by students is expected to be the result of the student’s individual thoughts, research and self-expression, unless the assignment specifically states “group project” or similar language. The minimum penalty for cheating is a grade of zero on the particular work. LETTER FROM THE DEAN Expectations of a Valencia College Behavioral & Social Science Student Welcome to the Division of Behavioral & Social Science at Valencia College’s West Campus; we are enthused to have this opportunity to assist you in achieving your educational goals. Higher education is a privilege and an opportunity; it is your responsibility to realize that you are in control of those behaviors and actions that can enable success in this course. From your professors, you can expect the following: 1. They will be prompt, courteous and respectful. 2. They will provide a professional learning environment throughout the entire scheduled instructional period. 3. They will provide an up-to-date syllabus; when changes need to be made, they will announce changes in a manner that is conveyed to all students in their class. 4. They will provide you with a course that is of necessary rigor to prepare you for the career you have chosen; because the class you are taking transfers to a four-year college or university, it will be taught with the same academic expectations. The bonus of starting your education at Valencia, when compared to attending a four-year college, is you will be able to get more personal attention with small class sizes and you will be able to save money; the classes are not easier. 5. They will offer time outside of class to discuss your questions. 6. They will be available to discuss your class concerns in private, outside of class time; you should try to resolve your class concerns with your professor before you try to voice your concerns with administrators. 7 7. They will respond to emails within 2 business days. 8. They will expect from you what they have expected from the many students who passed their classes in the past. In return, this is what your professor will expect from you: 1. You will be prompt, courteous and respectful. Prompt means you come to class on time, ready to work, with all assignments completed before you enter the class or lab. It means that you have studied, that all conversations, texting and diversions come to a stop and that you are ready to contribute to a positive learning environment from the beginning of the class. Courtesy means you are polite in your attitude and behavior towards your professor and classmates. Respectfulness means that you regard everyone’s classroom experience as valuable to them, that you accept your professor’s expertise and experience to create relevant course objectives and that you treat college and personal property with care. 2. You will read your syllabus; your syllabus is a contract between your professor and you. Be aware of deadlines to complete assignments on time and know your professor’s attendance policy. You will need to attend class for the full length of time allotted to your science class. 3. You will be aware of Valencia College policies and procedures found in the college catalog; ignorance of policies and procedures doesn’t mean they don’t apply. 4. You will be serious about learning; it is your responsibility to be an active participant in your own learning. You will need to devote sufficient time to learn the material presented by your professor; for most students, this means you will need to spend at least two hours studying for every hour of instruction. Learning is an action verb; you will need to do more than sit through class and reread your notes to be successful. To succeed in higher level classes, you must retain the information, concepts and skills you will learn; this can only happen if you work at learning to make the course content a part of your long term memory. Do not cram!! 5. You will be encouraged to produce your own study guides. Most college professors do not provide study guides, but they can give you tips that will help you produce your own study guides to gain a better understanding of the course content. 6. You will be expected to participate fully in classroom activities. The work you produce must be your own; cheating and/or plagiarism in any 8 form is not tolerated and your professor will have specific consequences, in their syllabus, which will be enforced should cheating occur. 7. You will be expected to contribute to a positive learning environment. Avoid classmates who speak negatively, or who have a negative outlook, about your class or your professor. Instead, get to know your professor during office hours; you will learn much more with a positive attitude. 8. You will be held to a high standard of maturity and responsibility. Disruptive behaviors will not be tolerated in the classroom. First time disruptions will be handled by your professor and may include a request that you leave the class. Very serious or repeated disruptions that impede learning for others will be reported to the Dean of Behavioral & Social Sciences and the Dean of Students, with specific consequences that can include your permanent removal from the class. Disruptions include: Being noisy when arriving late to class or leaving early. Carrying on private conversations while the professor is talking. Disrespectful language, tone and mannerisms. Sleeping or attempting to sleep in class. Repeatedly asking unnecessary or irrelevant questions. Using cell phone for any reason without permission. My wish is that you get the best learning value from the behavioral & social sciences classes in which you are enrolled. With everyone abiding by these expectations, your social science classes at Valencia should be the next step in achieving your academic dreams. Dr. Molly McIntire Dean, Division of Behavioral & Social Sciences Valencia College 9 Date 09/01 09/08 09/15 09/22 09/29 10/06 10/13 10/20 10/27 11/03 11/10 11/17 11/24 12/01 12/08 12/15 SCHEDULE ECO 1000 – Basic Economics, CRN 14457, Fall 2015 DISCLAIMER: Changes may be made at the discretion of the instructor (usually in writing). Assignments Classroom Activities Chapter 1, Limits, Alternatives and Choices Review of Syllabus, Black Board, Faculty Front Door, Financial Plan. Topics for BB discussions Chapter 1, concluded Chapter 1, Appendix: Graphs and their meaning Chapter 2, The Market System & the Circular Flow Chapter 3, Demand, Supply & Market Equilibrium Financial Plan Ideas, time permitting Chapter 4, Elasticity of Demand & Supply Video on Equilibrium, time permitting Chapter 4, concluded Chapter 5, Market Failures: Public Goods & Financial Plan Ideas, time permitting Externalities Test Review, Chapters 1-5 Test 1 on Chapters 1-5 Test One Chapter 6, Businesses and their costs Chapter 6, concluded Chapter 7, Pure Competition 10/12,15 Deadlines for posts in BB, disc #1 Chapter 7, concluded Chapter 8, Pure Monopoly Chapter 8, concluded Chapter 9, Monopolistic Competition & Oligopoly Chapter 9, concluded Chapter 10, GDP & Economic Growth 11/02 deadline to decide on oral presentation Test Review, Comprehensive 11/02,05 Deadlines for posts in BB, disc #2 Test 2, Cumulative Chapter 11, Business Cycles, Unemployment & Inflation Wrap-up discussion # 1 on topic selected, time permitting Financial Plan ideas, time permitting Test Two Chapter 11, concluded Wrap-up discussion# 2 on Topic Selected, TP Chapter 12, Aggregate Demand & Aggregate Supply Financial Plan ideas, time permitting Chapter 12, concluded Chapter 13, Fiscal Policy, Deficits and Debt Financial Plan ideas, time permitting Chapter 13, concluded Chapter 14, Money, Banking & Financial Institutions 11/30,12/03 Deadlines for posts in BB, disc #3 Chapter 14, concluded Chapter 15, Interest Rates & Monetary Policy Chapter 15, concluded Chapter 16, International trade and Exchange Rates Final Exam Review, Comprehensive Term papers, Financial Plans Due (HARD COPY; NO EMAIL) Final Exam (Cumulative) Video on Banking, time permitting Oral Presentations (TBD) Oral Presentations (TBD) Wrap-up discussion # 3 on topic selected, TP Final Exam 4:00 pm 10