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Principles of
Microeconomics
ECON 102
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Benedictine Hallmarks 2011-2012
STABILITY  STEWARDSHIP
IDEA
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course syllabus
Addresses the educational
needs of adult students by
developing and providing
engaging, relevant and
accelerated programs.
blended model
ECON 102
Enhances scholarship,
leadership skills, social
responsibility, and promotes
life-long learning.
Provides high-quality, easily
accessible educational
opportunities for adult
learners.
Principles of Microeconomics
instructor version
Enables adults to earn
specific undergraduate and
graduate degrees while
maintaining their personal and
professional commitments.
Develops new degree and
non-degree programs that
address the expressed needs of
the professional community.
content links index
about this document
about Moser College
about blended learning
hallmarks of a Benedictine education
student expectations
attendance policy
financial aid
submission of work
library resources
services for students with disabilities
Academic Honesty Policy
APA formatting and style
netiquette
course overview
required textbooks
grading scale
IDEA objectives
IDEA description
learning outcomes
course schedule
Moser College Mission
Statement: Moser College
embodies the values of respect,
excellence, collaboration, and
professionalism. We are
committed to delivering
innovative and dynamic
programs designed for adult
students who are dedicated to
enhancing their professional,
local, and global communities.
Moser College Vision
Statement: To be one of the
premier university colleges in
the nation.
Love of Christ and Neighbor  Prayer  Stability  Conversatio  Obedience
Discipline  Humility  Stewardship  Hospitality  Community
Benedictine University
Margaret and Harold Moser Center
1832 Centre Point Circle
Naperville, IL 60563
Phone: (630) 829-6289
Fax: (630) 829-1375
moser college mission and vision
2
Content Links
Principles of Microeconomics | ECON 102
About Your Program at Benedictine University – Moser College
About This Document
This is a hypermedia document – it has been built to mimic navigation on the
web. This document can also be viewed as a presentation or it can be printed
like a traditional document. We use this sort of document because it allows for
navigation links (hyperlinks) to text, graphics, audio/video, and the web. This
type of document also allows you to navigate in a nontraditional, nonlinear way
– by following the page links you are not bound to read or flip through the
document in any sort of order. This is yet another example of Moser College’s
commitment to advancements in technology and blended learning.
About Moser College
The Moser College of Adult & Professional Studies delivers its curricular
programs in a specifically designed structure deliberately oriented for working,
adult learners. The Moser College is committed to providing a learning
environment which extends beyond the classroom and is designed specifically
to meet the needs of its students and their employers by bringing a quality
educational experience without requiring the student to relocate or travel
extensively beyond their home area. Benedictine University's Moser College of
Adult & Professional Studies is fully accredited by the Higher Learning
Commission of the North Central Association of Colleges and Schools*.
* web path
Benedictine Univ
Academic Programs
Moser College
About Blended Learning
Blended learning is the integration of different learning environments: mainly the
online format with the face-to-face format, but may also include mobile learning.
Blended learning, also referred to as hybrid learning, relies on both the advantages
of digital/technology innovation and the methods of face-to-face instruction. At
Moser College, we use blended learning by combining asynchronous online
classroom sessions with a face-to-face classroom environment.
hallmarks of a Benedictine Education:
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3
About
Principles of Microeconomics | ECON 102
The Ten Hallmarks of a Benedictine Education
A Benedictine Education
Based on the Rules of Saint Benedict, a Benedictine
Education is based on the Benedictine Wisdom
Tradition that sets as its goals the transformation of the
Human mind AND Heart and has at its foundation “The
Ten Hallmarks of a Benedictine Education”.
The Ten Hallmarks
Each academic year Moser College will be celebrating
two of the Hallmarks. This academic year 2011-2012,
the Hallmarks Stability and Stewardship have been
chosen. The ten hallmarks are:
1. Love of Christ and Neighbor
2. Prayer: a Life marked by liturgy, lection and
Mindfulness
3. Stability: commitment to the daily life of this place,
its heritage and tradition
4. Conversatio: the way of formation and
transformation
5. Obedience: a commitment to listening and
consequent action
6. Discipline: a way toward learning and freedom
7. Humility: knowledge of self in relation to God,
others and creation
8. Stewardship: responsible use of creation, culture
and the arts
9. Hospitality: openness to others
10. Community: call to serve the common good
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Portrait (1926) by Herman Nieg
(1849–1928); Heiligenkreuz Abbey, Austria
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Love of Christ and Neighbor  Prayer  Stability  Conversatio  Obedience  Discipline  Humility  Stewardship  Hospitality  Community
4
Hallmarks
Principles of Microeconomics | ECON 102
Student Expectations
Expectations of Students
In order to get the maximum use of the time available, it is expected that you
will:
•
Read the material to be covered in the class and complete required
assignments prior to attending the class/session;
•
Arrive/login to class/session prepared to participate actively;
•
Be prepared to actively participate in the collaborative activities of each
class/session; and
•
Always feel free to seek additional help from the instructor when the need
arises.
Attendance Policy
Students may not miss more than 25% of the live classroom sessions. Doing so
will result in an F for the course.
financial aid information
Submission of Work
All assignments are to be submitted into Desire 2 Learn (D2L) unless otherwise noted by instructor.
Assignments must be submitted by due date. Any assigned work submitted late for any unexcused
reason will receive a lowered grade. Please refer to your instructor’s late work policy located in D2L.
In the event that you miss an examination for due cause, arrangements must be made with the
instructor for a make-up examination. Important criteria concerning the submission of work:
•
Make-up examinations may differ from the original class examination.
•
Per University policy, assignments cannot be accepted by an instructor after the last day of the course.
•
Only discussions threads posted by 11:59 pm CST on the due date will count for grading purposes.
information concerning netiquette:
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Love of Christ and Neighbor  Prayer  Stability  Conversatio  Obedience  Discipline  Humility  Stewardship  Hospitality  Community
5
Expectations
Principles of Microeconomics | ECON 102
Financial Aid Information
Applying for Financial Aid
A college education is one of the largest financial investments a family will make. We believe that an education
from Benedictine University will provide valuable returns throughout a student's lifetime. The Office of Financial
Aid is dedicated to helping students and their families make a Benedictine University education affordable. We
view the process of financing an education as a partnership. Although the student and his/her family have primary
responsibility for meeting college costs, Benedictine University, as well as the federal and state governments have
a variety of financial aid programs available to students who need financial assistance.
Types of Financial Aid
Benedictine University's Office of Financial Aid administers a variety of federal, state
and institutional programs of student financial assistance. All financial aid recipients
must maintain satisfactory academic progress in accordance with the published,
"Satisfactory Academic Progress Policy for Financial Aid Recipients.“
•
After completing the financial aid application process, the student will receive a
financial aid award notification letter. The award letter will include the
program(s) that the student is eligible to receive and the award amount(s).
•
Grants/Scholarships - Grants and scholarships are considered to be gift
assistance. This means the awards do not have to be repaid.
•
Loans - Loans are considered to be a form of self-help assistance. Loan programs
provide funds for educational purposes and are paid back with interest.
•
Employment - Part-time jobs on campus are available to students through the
University and Federal Work-Study program. Students working on campus
receive a bi-weekly paycheck.
•
Applying for Financial Aid – All students applying for financial aid are asked to
complete the Free Application for Federal Student Aid (FAFSA).
FAFSA – Free Application for Federal Student Aid
The FAFSA is required for all federal, state (Illinois residents) and Benedictine University need-based assistance.
It should be completed as soon as possible after January 1st. Applying online with FAFSA on the Web at
www.fafsa.gov is faster and easier than using a paper FAFSA. Have your completed U.S. Federal Income Tax
returns readily available when completing the FAFSA. Include Benedictine University's school code:
001767 so the results of your FAFSA application will automatically be sent to our financial aid office. Sign you
FAFSA with a Federal Student Aid PIN. Apply for a PIN at www.pin.ed.gov. If you are providing parent
information, one parent must also sign you FAFSA.
home
about
expectations
resources
course
overview
learning
outcomes
IDEA
schedule &
sessions
Love of Christ and Neighbor  Prayer  Stability  Conversatio  Obedience  Discipline  Humility  Stewardship  Hospitality  Community
6
Financial Aid
Principles of Microeconomics | ECON 102
About Netiquette
What is Netiquette?
"Netiquette" stands for "Internet Etiquette", and refers to the set of practices which help to make the online
experiences pleasant for all involved. As you might expect, netiquette, like other forms of etiquette, is about
courtesy, manners, codes of behavior, protocols and respect. Netiquette primarily focuses on how we interact with
one another online, by being aware of: our use of language, others’ cultural background, conventional norms, and
other behaviors. Below you will find guidelines concerning the basics of online interaction. If it isn’t something you
would say or do in the face-to-face classroom, it is probably inappropriate in the online class as well.
Netiquette Basics
1. Follow the Golden Rule (“One should treat others as one would like others to treat oneself”)
2. Be ethical, fair, tolerant and mindful of others – avoid stereotyping, judgment and prejudice
3. Know the boundaries of particular cyberspaces – what is acceptable in a text or chatroom with friends may
not be appropriate in a classroom or in an online conversation with an instructor
4. Respect the time of others by: 1) using descriptive subject lines, 2) resizing images for the web, 3) providing
links instead of copying and pasting content, 5) using white space by inserting blank lines between paragraphs
and headers and 6) limiting your use of attachments
5. Copy the minimum number of people – it is tempting to send “email” or “message blasts” because it is easier
for the poster, but it is not easier for the reader
Inappropriate Online Usage
1. Avoid “flaming” – flaming is sending offensive, insulting or criticizing messages. This happens more often
online then in face-to-face interaction, because there is an illusion of anonymity.
2. Flaming is neither productive nor appropriate for the learning environment
3. Always avoid flaming when it comes to content and opinions, but also avoid it when it comes to grammar,
punctuation and spelling corrections
4. Avoid using CAPS if possible and never type messages in ALL CAPS – this is considered yelling and is often
seen as a form of aggression
5. Use emoticons ( :) , :( , :-) ) sparingly and avoid the use of JK, BRB, LOL and other text language
Confidentiality and Privacy
1.
2.
3.
4.
Email, messaging and posting are forms of written record and are just as permanent as a letter or document
Do not publicize your own or others’ personal information (such as email, phone numbers, last names etc.)
Respect copyright and cite any and all sources
Do not expect that your communications are private, instead assume all communications are public
For more information please review Netiquette by Virginia Shea
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Love of Christ and Neighbor  Prayer  Stability  Conversatio  Obedience  Discipline  Humility  Stewardship  Hospitality  Community
7
Netiquette
Principles of Microeconomics | ECON 102
Resources for Success
Benedictine’s Library Resources
Benedictine University Libraries strive to provide the resources for all of your academic and research
needs. Providing access to over 120 databases, 200,000 books and eBooks, and helpful librarians 7
days a week, we are here to assist you in person and online.
The primary mission of the Benedictine University Library is to provide library resources and services
that support the Benedictine University community and meet its academic and research needs. To
support our mission, the Library has made provisions for all students to gain access to important
academic resources through the Benedictine Library Website. As you begin your academic journey
please take note of these key concepts that will affect that access:
•
Entry into academic databases and most Library resources must be made through the Benedictine
Library Website at www.ben.edu/library
•
Within one week of your official enrollment your patron information will be automatically entered
into the library system, where once entered, you will be able to check out books and access
databases
•
When off-campus you will be prompted by authentication software (a proxy server) to provide
your Library ID number and last name to access article databases and request books. This software
proxy server confirms that you are a current Benedictine University student and thus allowed
access
•
Your Library ID number is a combination of the Benedictine Library prefix 2281100 and your
seven-digit student ID number (also called your “b” number). Thus 2281100XXXXXXX is
the Library ID number with X’s being the seven digit student number. This number is prominently
located just below the barcode on your Benedictine ID card
•
For further information on any aspect of Library resources and access please call or write the
Benedictine Library Reference Desk at 630-829-6057 or libref@ben.edu. Please take note of
Library hours and staff directory located on the Library Website under About the Library and feel
free to contact us about any concern or need you might have
additional resources for student success:
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Love of Christ and Neighbor  Prayer  Stability  Conversatio  Obedience  Discipline  Humility  Stewardship  Hospitality  Community
8
Library
Principles of Microeconomics | ECON 102
Resources for Success
University Academic Honesty Policy
The search for truth and the dissemination of knowledge are the central missions of a university.
Benedictine University pursues these missions in an environment guided by our Roman Catholic
tradition and our Benedictine Heritage. Integrity and honesty are therefore expected of all University
students. Actions such as cheating, plagiarism, collusion, fabrication, forgery, falsification,
destruction, multiple submission, solicitation, and misrepresentation are violations of these
expectations and constitute unacceptable behavior in the University community.
To access the complete Academic Honesty Policy, which includes student responsibility, responsibility
and authority of faculty, violations, reporting and communicating, responsibilities of the provost,
appeals, composition of the academic appeals board, procedures of the academic appeals board, and
records, please select the following link: www.ben.edu/ahp
APA Formatting and Style
All course assignments must use APA citation and formatting. This is a
mandatory requirement for all assignments, including discussions, if a
publication or other work is being referenced. For more information on
APA, please see the APA Style section at the website of the American
Psychological Association, linked here: www.apa.org/
APA resources for students: www.apa.org/about/students.aspx
Services for Students with Disabilities
Section 504 of the Rehabilitation Act of 1973 and the Americans with Disabilities Act (ADA) of 1990
prohibit discrimination against individuals with disabilities by standing provision of reasonable
accommodations to make programs and activities accessible to qualified individuals with disabilities.
If you have a documented learning, psychological, or physical disability, you may be eligible for
reasonable academic accommodations or services. To request accommodations or services, please
contact the Student Success Center, Krasa Center - 012A, 630-829-6340. All students are expected to
fulfill essential course requirements. The University will not waive any essential skill or requirement
of a course or degree program.
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Love of Christ and Neighbor  Prayer  Stability  Conversatio  Obedience  Discipline  Humility  Stewardship  Hospitality  Community
9
Other Resources
Principles of Microeconomics | ECON 102
Individual Development and Educational Assessment
IDEA Objectives
•
Acquiring skills in working with others as a member of a team.
•
Developing creative capacities (writing, inventing, designing,
performing in art, music, drama, etc.)
•
Gaining a broader understanding and appreciation of intellectual/
cultural activity (music, science, literature, etc.)
•
Developing skill in expressing oneself orally or in writing.
•
Learning how to find and use resources for answering questions or
solving problems.
•
Developing a clearer understanding of, and commitment to, personal
values.
•
Learning to analyze and critically evaluate ideas, arguments, and
points of view.
•
Acquiring an interest in learning more by asking questions and
seeking answers.
IDEA Description
The IDEA student survey focuses on the instructor’s learning objectives for the course and on the
progress each student made toward achieving those objectives. By answering thoughtfully and
honestly, your ratings and comments will be much more helpful – to the instructor, the department
chair, and the dean of the college. As students, you should also know that student ratings and
comments have been used to help evaluate courses and to improve the educational experience at
Benedictine University. The appropriate standard of conduct with respect to student surveys is
thoughtful comments and constructive criticism – respectfully communicated.
A Focus on Learning
“The IDEA Student Ratings system looks at instruction in terms of its endgame. Rather than
emphasizing teaching style or personality, the IDEA system focuses on student learning and the
methods used to facilitate it.” – from the IDEA website: www.theideacenter.org/node/5
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IDEA
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Love of Christ and Neighbor  Prayer  Stability  Conversatio  Obedience  Discipline  Humility  Stewardship  Hospitality  Community
10
IDEA
Principles of Microeconomics | ECON 102
Faculty Weekend Course Overview
Course Description
Demand-Supply model, consumer and firm decision-making, market structures, price determination,
resource allocation.
Course Materials
Required Textbook and Materials
Colander, C. David (2010). Microeconomics (9th Ed.) New York, NY: McGraw-Hill
ISBN 978-007750180
Suggested Course Materials
Wall Street Journal, Investors Business Daily, cnbc.com, forbes.com,
Technological Computer Requirements
Students in the Blended program will need: High-speed Internet access; a sound card and speakers;
Windows XP (minimum)/Windows 7 (recommended) or Mac OS X 10.5 or higher; and Firefox 3.6 or
higher. It is also highly recommended that students have access to a microphone or webcam for
optional audio/videoconferencing.
Discussion Forum Guidelines
The Course Grading Scale
A
=
4.00
90 - 100%
EXCELLENT
B
=
3.00
80 – 89%
GOOD
C
=
2.00
70 – 79%
SATISFACTORY
D
=
1.00
60 – 69%
PASS
F
=
0.00
BELOW 60%
FAIL
I
=
INC
INCOMPLETE
home
about
expectations
resources
To receive a minimum passing grade, students must
make a post to each discussion question for that
week by day 4 of each week and respond to at least
two other postings by the end of the week. Individual
Posts are worth up to 5 points and the total
Response Posts are worth up to 5 points total. Each
discussion will total up to 10 points.
course
overview
learning
outcomes
IDEA
schedule &
sessions
Love of Christ and Neighbor  Prayer  Stability  Conversatio  Obedience  Discipline  Humility  Stewardship  Hospitality  Community
11
Course Overview
Principles of Microeconomics | ECON 102
Faculty Weekend Course Outcomes Based in Bloom’s Taxonomy
Wk
Bloom’s
Level
Learning Objective
Benedictine Hallmark
and/or IDEA Objective
Assignment
Pts
1A
5 - Evaluating
Explain and illustrate PBL
IDEA Objective: Analyze
PBL Example: Different forms of
business
6 – Creating
Build a case for outsourcing
and how it can improve
profitability
IDEA Objective: Analyze
Chapter 1-3 questions
5 pts
4 – Creating
Elaborate on how taxes and
subsidies can influence
supply and demand
IDEA Objective: Cognitive
Chapter 1-3 questions
5 pts
4 – Analyzing
Analyze the world economy
IDEA Objective: Cognitive
Topic Globalization. Discussion
Post and two Response Posts on
D2L.
10 pts
5 - Evaluating
Evaluate market
intervention
IDEA Objective: Cognitive
Topic: Market Preferences.
Discussion Post and two
Response Posts on D2L.
10 pts
5 - Evaluating
Defend the position that
Price Ceilings and Price
Floors actually hinder the
economy
IDEA Objective: Teaching
Chapter 4-6 questions
5 pts
6 – Creating
Discuss substitution and how
its correlation to supply and
demand.
IDEA Objective: Cognitive
Chapter 4-6 questions
5 pts
5 – Evaluating
Explain and illustrate BPL
IDEA Objective: Analyze
PBL Example: Capitalism,
Socialism and Market Economy
2A
5 – Evaluating
Discussing taxation and
government
IDEA Objective: Cognitive
Chapter 7 questions
5 pts
2B
5 - Evaluating
Assess your knowledge.
IDEA Objective: Cognitive
Quiz 1 – covering chapters 1-8
50 pts
5 – Evaluating
Discussing government and
market failures
IDEA Objective: Cognitive
Chapter 8 questions
5 pts
1B
about Bloom’s Taxonomy
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Love of Christ and Neighbor  Prayer  Stability  Conversatio  Obedience  Discipline  Humility  Stewardship  Hospitality  Community
12
Learning Outcomes
Principles of Microeconomics | ECON 102
Faculty Weekend Course Outcomes Based in Bloom’s Taxonomy
Wk
Bloom’s
Level
Learning Objective
Benedictine Hallmark
and/or IDEA Objective
Assignment
3A
5 - Evaluating
Explain and illustrate PBL
IDEA Objective: Analyze
BPL Example: Tariffs & Quotas
5 - Evaluating
Explain International trade
restrictions
IDEA Objective: Analyze
Chapter 9-11 questions
5 pts
4 – Analyzing
Distinguish between costs of
production
IDEA Objective: Cognitive
Chapter 9-11 questions
5 pts
4 – Analyzing
Analyze production expenses
IDEA Objective: Cognitive
Topic: Producer Surplus.
Discussion Post and two
Response Posts on D2L
10 pts
3B
4A
4B
Pts
5 - Evaluating
Explain outsourcing
IDEA Objective: Cognitive
Hallmark: Love of Christ & Neighbor
Topic: China & India outsourcing.
Discussion Post and two
Response Posts on D2L
10 pts
6 - Creating
Distinguish between
monopolist and perfect
competitor.
IDEA Objective: Teaching
Chapter 12-14 questions
5 pts
5 – Evaluating
Discussing externalities
IDEA Objective: Cognitive
Chapter 15 questions
5 pts
Examine key technological
advances in production
IDEA Objective Cognitive
Topic: New Technology.
Discussion Post and two
Response Posts on D2L
10 pts
5 - Evaluating
Assess your knowledge.
IDEA Objective: Cognitive
Quiz 2 – covering chapters 9-15
50 pts
5 – Evaluating
Discussing externalities
IDEA Objective: Cognitive
PBL project
50 pts
Discussion Questions
Chapter Questions
Quizzes
PBL project
Total Points for the Course
10 pts ea x 5
= 50 pts
10 pts ea x 5
= 50 pts
50 pts ea x 2
= 100 pts
25 pts ea x 1
= 50 pts
Total Points for the Course
20%
20%
40%
20%
of
of
of
of
the total
the total
the total
the total
points
points
points
points
= 250 pts
about Bloom’s Taxonomy
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Love of Christ and Neighbor  Prayer  Stability  Conversatio  Obedience  Discipline  Humility  Stewardship  Hospitality  Community
13
Learning Outcomes
Principles of Microeconomics | ECON 102
Faculty Weekend Course Schedule
Session
Loc.
Class Title
Assignments
01 A
F2F
Economics,
Trade and
Globalization
•
•
•
•
•
•
•
•
•
•
•
no pre-assignment for session 1A
Review Chapter 1-3 of textbook.
Chapter 1 Questions 1-5, page 21.
Chapter 2, Questions 1-5 page 39-40.
Chapter 3, Questions 1-5 page 69.
Real World Application Chapter 2: Made in China, Ken and Barbie page 35.
Below assignments are due after lecture
Chapter 1 Issues to Ponder Question 3 page 22.
Chapter 2, Questions & Exercises #6 & #9 page 39.
Chapter 3, Questions & Exercises #1-#8 page 69.
PBL Example: Different forms of business (steps 1-6)
01 B
F2F
Using Supply &
Demand and
Elasticities
•
•
•
•
•
•
•
•
•
•
Review Chapter 4-6 of textbook.
Chapter 4 Questions 1-7, page 96.
Chapter 5, Questions 1-5 page 113.
Chapter 6, Questions 1-6 page 141-142.
Real World Application Chapter 6: Measuring your elasticity page 135.
Below assignments are due after lecture
Chapter 4 Questions & Exercises #1-#4 page 96.
Chapter 5, Questions & Exercises #1-#3 page 111.
Chapter 6, Questions & Exercises #1-#3 page 140.
PBL Example: Capitalism, Socialism and Market Economy (steps 1-6).
02 A
online
Government
and Taxation
•
•
•
•
Review Chapter 7 of textbook.
Chapter 7 Questions 1-5, page 160.
Below assignment due after instructor online discussion.
Chapter 7 Questions & Exercises #7-#9 page 160.
02 B
online
Market
Failures
•
•
•
•
•
Review Chapter 8 of textbook.
Chapter 8, Questions 1-5 page 182.
Below assignment due after instructor online discussion.
Chapter 8, Questions & Exercises #1-#4 page 181.
Quiz 1 covering chapters 1-8.
03 A
F2F
Production,
Cost Analysis
and
International
Trade
•
•
•
•
•
•
•
•
Review Chapter 9-11 of textbook.
Chapter 9, Questions 1-5 page 203. Chapter 10 Questions 1-5, page 223.
Chapter 11, Questions 1-7 page 241.
Below assignments are due after lecture.
Chapter 9, Questions & Exercises #12-#14 page 202.
Chapter 10 Questions & Exercises #1-#4 page 223.
Chapter 11, Questions & Exercises #4-#7 page 241.
PBL Example: Tariffs & Quotas (steps 1-6).
03 B
F2F
Perfect
Competition,
Monopoly and
Monopolistic
Competition
•
•
•
•
•
Review Chapter 12-14 of textbook.
Chapter 12, Questions 1-5 page 259.
Real World Application: Chapter 12 Automobile Production and Technology.
Chapter 13 Questions 1-5, page 283.
Chapter 14, Questions 1-5 page 308-309.
04 A
online
Oligopoly and
Antitrust
•
•
•
Review Chapter 15 of textbook.
Chapter 15, Questions 1-5 page 331.
Real World Application Chapter 14: Patent control.
04 B
online
Oligopoly and
Antitrust
•
•
•
Review Chapter 1-15 of textbook.
Quiz 2 covering chapters 9-15
PBL Assignment
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schedule &
sessions
Love of Christ and Neighbor  Prayer  Stability  Conversatio  Obedience  Discipline  Humility  Stewardship  Hospitality  Community
14
Course Schedule
Principles of Microeconomics | ECON 102
Faculty Weekend Session 1A
Learning Objectives
By the end of the week the learner should be able to:
1. Lesson objective: Discuss the limitations of supply and demand analysis.
2. IDEA objective: Cognitive.
Activities, Assignments and Assessments
INDIVIDUAL ACTIVITIES Multimedia (suggested materials)
Illustrate where students can access current economic stories that
relate to weekly material covered in class.
Wsj.com ,(Wall Street journal), Investors.com (Investors Business
Daily), cnbc.com, forbes.com
In Class Assignment (suggested activity)
•
•
•
•
•
Review Chapter 1-3 of textbook.
Chapter 1 Questions 1-5, page 21.
Chapter 2, Questions 1-5 page 39-40.
Chapter 3, Questions 1-5 page 69.
Real World Application Chapter 2: Made in China, Ken and
Barbie page 35.
In Class Activity (suggested activity)
Chapters 1-3, facilitate a discussion on market forces and the
invisible hand theorem before transitioning into the benefits of
trade. Lead a class discussion examining globalization and
exchange rates as it relates to comparative advantage. Engage
the students in a conversation on capitalism and socialism.
In Class Assessment (suggested activity)
The students will be assessed on this weeks material
(chapter 1-3) during quiz 1.
Discussion Question
In D2L follow the link under Discussion #1 addressing globalization.
Ensure students are following netiquette and are not using the
forum as a text message forum. Ideas and responses should be
well articulated. **The initial post must be made mid week, and
the response posts must be made prior to the start of the next
session
home
about
expectations
resources
PROBLEM or PROJECT BASED LEARNING:
Introduce the concept of PBL and illustrate its strengths.
For additional help on this topic please see the hyperlink in D2L that
goes into great detail on the PBL concept.
**During week 1 you will need to walk the students through the
process. Each week you will have less of a role and shift the
responsibility to them until the last week where students are
responsible for completing the entire process themselves. Ensure
each week that you coach through the methodology so they will
have minimal difficulties when they are on there own the last week.
Week 1A Problem: Different forms of Business
This week you’ll discuss several ways business can be structured,
from sole proprietorships to corporations. Therefore spend time
facilitating a discussion on these topics illustrating who would
benefit from these separate structures.
Have them use the following steps to help their thought process.
This methodology will help bring consistency to their decision
making process. They will use this the last week when they write
their PBL project. This project will find the students being in
charge.
1. Define the problem (must be well defined)
2. Brainstorm for possible solutions
3. Decide on the best solution
4 .Implement the selected solution
5. Observe to ensure your solution and implementation
corrected the problem. If not, go back to step 1 and start
again.
*During week 1 you will need to walk the students through the
process. Each week you will have less of a role and shift the
responsibility to them until the last week where students are
responsible for completing the entire process themselves. Ensure
each week that you coach through the methodology so they will
have minimal difficulties during week 5 when they’re on there
own.
course
overview
learning
outcomes
IDEA
schedule &
sessions
Love of Christ and Neighbor  Prayer  Stability  Conversatio  Obedience  Discipline  Humility  Stewardship  Hospitality  Community
15
Session 1A
Principles of Microeconomics | ECON 102
Faculty Weekend Session 1B
Learning Objectives
By the end of the week the learner should be able to:
1. Lesson objective: Determine the influences of price elasticity
2. IDEA objective: Cognitive.
Activities, Assignments and Assessments
INDIVIDUAL ACTIVITIES
In Class Assignment (suggested activity)
•
•
•
•
•
Review Chapter 4-6 of textbook.
Chapter 4 Questions 1-7, page 96.
Chapter 5, Questions 1-5 page 113.
Chapter 6, Questions 1-6 page 141-142.
Real World Application Chapter 6: Measuring your
elasticity page 135.
Class Activity (suggested activity)
Chapters 4-6, facilitate a discussion on supply, demand
and what their intersection means. Lead the class in a
conversation on excise taxes and third party payer
markets before transitioning into price elasticity. Detail
and provide real life examples of how students encounter
elasticity on a daily basis. Next engage the class in a
discussion on income and cross price elasticity.
In Class Assessment (suggested activity)
The students will be assessed on this weeks material
(chapter 4-6) during quiz 1.
Discussion Question
In D2L follow the link under Discussion #2 addressing
market preferences. Ensure students are following
netiquette and are not using the forum as a text message
forum. Ideas and responses should be well articulated.
PROBLEM or PROJECT BASED LEARNING
**Ensure this week you reduce your role in the process
and have students become more responsible for the
methodology and process.
Week 1B Problem: Capitalism and Socialism and a
Market Economy.
This week you differentiated capitalism from socialism and
a market economy. Therefore spend time facilitating a
discussion on how countries react and plan economies.
Use the United States and European countries as real
world examples.
Once again have students use the following steps to help
their thought process. This methodology will help bring
consistency to their decision making process. They will
use this the last week when they write their PBL project.
1. Define the problem (must be well defined)
2. Brainstorm for possible solutions
3. Decide on the best solution
4 .Implement the selected solution
5. Observe to ensure your solution and
implementation corrected the problem. If not, go back
to step 1 and start again.
The initial post must be made mid week, and the response
posts must be made prior to the start of the next session
home
about
expectations
resources
course
overview
learning
outcomes
IDEA
schedule &
sessions
Love of Christ and Neighbor  Prayer  Stability  Conversatio  Obedience  Discipline  Humility  Stewardship  Hospitality  Community
16
Session 1A
Principles of Microeconomics | ECON 102
Faculty Weekend Session 2A
Learning Objectives
By the end of the week the learner should be able to:
1. Lesson objective: Discuss the limitations of supply and demand analysis.
2. IDEA objective: Cognitive.
Activities, Assignments and Assessments
INDIVIDUAL ACTIVITIES
DELIVERABLES
Multimedia (suggested materials)
These assignments are to be completed by students after
the lecture on chapters 1-6. These are individual
assignments.
Suggest that students us the following websites to review
up to dates events on the economy. These event occur
everyday therefore their should be several examples to
use in class that correlate to the reading material.
Wsj.com ,(Wall Street journal), Investors.com (Investors
Business Daily), cnbc.com, forbes.com
Reading Assignment
•
•
•
•
•
•
Chapter
Chapter
Chapter
Chapter
Chapter
Chapter
1 Issues to Ponder Question 3 page 22.
2, Questions & Exercises #6 & #9 page 39.
3, Questions & Exercises #1-#8 page 69.
4 Questions & Exercises #1-#4 page 96.
5, Questions & Exercises #1-#3 page 111.
6, Questions & Exercises #1-#3 page 140.
The assignments below are due after online lecture of
chapters 7.
Microeconomics, (9th Ed.) written by
David C Colander(2013): ISBN 978007750180
•
Chapter 7 Questions & Exercises #7-#9 page 160.
Assignments must be completed in a word document and
specifically answer all assigned chapter questions. These
are great examples to prepare students for their weekly
quizzes.
home
about
expectations
resources
course
overview
learning
outcomes
IDEA
schedule &
sessions
Love of Christ and Neighbor  Prayer  Stability  Conversatio  Obedience  Discipline  Humility  Stewardship  Hospitality  Community
17
Session 1B
Principles of Microeconomics | ECON 102
Faculty Weekend Session 2B
Learning Objectives
By the end of the week the learner should be able to:
1. Lesson objective: Determine the three methods of dealing with externalities.
2. IDEA objective: Cognitive.
3. Benedictine Hallmark: Stewardship.
Activities, Assignments and Assessments
INDIVIDUAL ACTIVITIES
DELIVERABLES
Multimedia (suggested materials)
Quiz 1 covering chapters 1-8
Suggest that students us the following websites to review
up to dates events on the economy. These event occur
everyday therefore their should be several examples to
use in class that correlate to the reading material.
Wsj.com ,(Wall Street journal), Investors.com (Investors
Business Daily), cnbc.com, forbes.com
The assignments below are due after online lecture of
chapters 8.
•
Chapter 8, Questions & Exercises #1-#4 page 181.
Assignments must be completed in a word document and
specifically answer all assigned chapter questions. These
are great examples to prepare students for their weekly
quizzes.
Reading Assignment
Microeconomics, (9th Ed.) written by
David C Colander(2013): ISBN 978007750180
home
about
expectations
resources
course
overview
learning
outcomes
IDEA
schedule &
sessions
Love of Christ and Neighbor  Prayer  Stability  Conversatio  Obedience  Discipline  Humility  Stewardship  Hospitality  Community
18
Session 1B
Principles of Microeconomics | ECON 101
Faculty Weekend Session 3A
Learning Objectives
By the end of the week the learner should be able to:
1. Lesson objective: Explain policies countries use to restrict trade.
2. IDEA objective: Cognitive.
Activities, Assignments and Assessments
INDIVIDUAL ACTIVITIES
PROBLEM or PROJECT BASED LEARNING
In Class Assignment (suggested activity)
•
•
•
•
**Ensure this week you reduce your role in the process
and have students become more responsible for the
methodology and process.
Review Chapter 9-11 of textbook.
Chapter 9, Questions 1-5 page 203.
Chapter 10 Questions 1-5, page 223.
Chapter 11, Questions 1-7 page 241.
Week 3A Problem: Tariffs & Quotas:
In Class Activity (suggested activity)
Chapters 9-11, facilitate a discussion with students
covering comparative advantage and exchange rates and
how they affect the overall profitability of a firm.
Ensure you discuss international trade specifically
pinpointing tariffs and quotas,. Next engage the
students with a discussion on production and cost
analysis keying on how firms maximize profits. Use table
11.1 on page 233 to help illustrate your points.
In Class Assessment (suggested activity)
The students will be assessed on this weeks material
(chapter 9-11) during quiz 2.
Discussion Question
In D2L follow the link under Discussion #3 addressing to
producer surplus. Ensure students are following
netiquette and are not using the forum as a text message
forum. Ideas and responses should be well articulated.
This week we introduced the concept of tariffs and quotas
and their impact on the world economy. Therefore spend
time facilitating a discussion illustrating affects of these
policies. Ensure you use the most recent data to reinforce
these concepts.
Once again have students use the following steps to help
their thought process. This methodology will help bring
consistency to their decision making process. They will
use this the last week when they write their PBL project.
1. Define the problem (must be well defined)
2. Brainstorm for possible solutions
3. Decide on the best solution
4 .Implement the selected solution
5. Observe to ensure your solution and
implementation corrected the problem. If not, go back
to step 1 and start again.
The initial post must be made mid week, and the
response posts must be made prior to the start of the
next session
home
about
expectations
resources
course
overview
learning
outcomes
IDEA
schedule &
sessions
Love of Christ and Neighbor  Prayer  Stability  Conversatio  Obedience  Discipline  Humility  Stewardship  Hospitality  Community
19
Session 1A
Principles of Macroeconomics | ECON 102
Faculty Weekend Session 3B
Learning Objectives
By the end of the week the learner should be able to:
1. Lesson objective: Explain why producing an output at MC = Price maximizes total profit for a perfect competitor.
2. IDEA objective: Cognitive.
Activities, Assignments and Assessments
INDIVIDUAL ACTIVITIES
In Class Assignment (suggested activity)
•
•
•
•
•
PROBLEM or PROJECT BASED LEARNING
Review Chapter 12-14 of textbook.
Chapter 12, Questions 1-5 page 259.
Real World Application: Chapter 12 Automobile
Production and Technology.
Chapter 13 Questions 1-5, page 283.
Chapter 14, Questions 1-5 page 308-309.
In Class Activity (suggested activity)
Chapters 12-14, facilitate a discussion with students
covering production and cost analysis and how this plays
into a concept of economies of scope. Use a real life
example to illustrate this concept. Transition into a
conversation on perfect competition and the stringent
conditions to meet this marketplace. Next engage the
students with a discussion on total profit at the profitmaximizing level of output. Use table 13.1 on page 273
to help illustrate your points
In Class Assessment (suggested activity)
The students will be assessed on this weeks material
(chapter 12-14) during quiz 2.
Discussion Question
In D2L follow the link under Discussion #4 addressing
China & India outsourcing. Ensure students are following
netiquette and are not using the forum as a text message
forum. Ideas and responses should be well articulated.
All of your direction will come to fruition this week as
students will be going solo on the following problem.
Week 3B Problem: Market Structures
This week you discussed market structures and used the
table on page 321 to illustrate the differences for students.
For the past four weeks you have helped the students
work through a specific problem each week. Now its time
to teach the teacher. Therefore this weeks assignment has
shifted from a class based learning feature to one where
you can assess the students development over the past
five weeks while the class worked through a weekly
problem.
The assignment is simple. Students are to write a
three page paper specifically differentiating market
structures and providing an example of a company for
of these structures in addition to how or if they should
be regulated and why. For example use oil, quotas
and taxes as an example for students.
1. Define the problem (must be well defined)
2. Brainstorm for possible solutions
3. Decide on the best solution
4 .Implement the selected solution
5. Observe to ensure your solution and
implementation corrected the problem. If not, go back
to step 1 and start again.
The initial post must be made mid week, and the
response posts must be made prior to the start of the
next session
home
about
expectations
resources
course
overview
learning
outcomes
IDEA
schedule &
sessions
Love of Christ and Neighbor  Prayer  Stability  Conversatio  Obedience  Discipline  Humility  Stewardship  Hospitality  Community
20
Session 1A
Principles of Microeconomics | ECON 102
Faculty Weekend Session 4A
Learning Objectives
By the end of the week the learner should be able to:
1. Lesson objective: Construct a graph that illustrates welfare loss as a result of monopolies.
2. IDEA objective: Cognitive.
Activities, Assignments and Assessments
INDIVIDUAL ACTIVITIES
DELIVERABLES
Multimedia (suggested materials)
These assignments are to be completed by students
after the lecture on chapters 9-14. These are
individual assignments.
Suggest that students us the following websites to review
up to dates events on the economy. These event occur
everyday therefore their should be several examples to
use in class that correlate to the reading material.
Wsj.com ,(Wall Street journal), Investors.com (Investors
Business Daily), cnbc.com, forbes.com
Reading Assignment
•
•
•
Chapter 9, Questions & Exercises #12-#14 page 202.
Chapter 10 Questions & Exercises #1-#4 page 223.
Chapter 11, Questions & Exercises #4-#7 page 241.
Assignments must be completed in a word document and
specifically answer all assigned chapter questions. These
are great examples to prepare students for their weekly
quizzes.
Microeconomics, (9th Ed.) written by
David C Colander(2013): ISBN 978007750180
home
about
expectations
resources
course
overview
learning
outcomes
IDEA
schedule &
sessions
Love of Christ and Neighbor  Prayer  Stability  Conversatio  Obedience  Discipline  Humility  Stewardship  Hospitality  Community
21
Session 1B
Principles of Microeconomics | ECON 102
Faculty Weekend Session 4B
Learning Objectives
By the end of the week the learner should be able to:
1. Lesson objective: Construct a graph that illustrates welfare loss as a result of monopolies.
2. IDEA objective: Cognitive.
Activities, Assignments and Assessments
DELIVERABLES
Quiz 2 covering chapters 9-15.
Assignments must be completed in a word document and
specifically answer all assigned chapter questions. These
are great examples to prepare students for their weekly
quizzes.
PBL Assignment: Market Structures
Assignments must be completed in a word document and
specifically answer all assigned chapter questions. These are
great examples to prepare students for their weekly quizzes.
home
about
expectations
resources
course
overview
learning
outcomes
IDEA
schedule &
sessions
Love of Christ and Neighbor  Prayer  Stability  Conversatio  Obedience  Discipline  Humility  Stewardship  Hospitality  Community
22
Session 1B