COLLIN COUNTY COMMUNITY COLLEGE DISTRICT
DIVISION OF BUSINESS AND COMPUTER SCIENCE
COURSE SYLLABUS
Summer, 2014
Course Number:
ECON 2302
Course Title:
PRINCIPLES OF MICROECONOMICS
Course Description: Analysis of the behavior of individual economic agents, including
consumer behavior and demand, producer behavior and supply, price and output decisions by
firms under various market structures, factor markets, market failures and international trade.
Course Credit Hours:
3
Lecture Hours:
3
Assessments: Placement in ENGL 1301; College-Level Reading
Student Learning Outcomes:
State-mandated Outcomes: Upon successful completion of this course, students will:
1. Explain the role of scarcity, specialization, opportunity cost and cost/benefit analysis
in economic decision-making.
2. Identify the determinants of supply and demand; demonstrate the impact of shifts in
both market supply and demand curves on equilibrium price and output.
3. Summarize the law of diminishing marginal utility; describe the process of utility
maximization.
4. Calculate supply and demand elasticities, identify the determinants of price elasticity
of demand and supply, and demonstrate the relationship between elasticity and total
revenue.
5. Describe the production function and the Law of Diminishing Marginal Productivity;
calculate and graph short-run and long-run costs of production.
6. Identify the four market structures by characteristics; calculate and graph the profit
maximizing price and quantity in the output markets by use of marginal analysis.
7. Determine the profit maximizing price and quantity of resources in factor markets
under perfect and imperfect competition by use of marginal analysis.
8. Describe governmental efforts to address market failure such as monopoly power,
externalities, and public goods.
9. Identify the benefits of free trade using the concept of comparative advantage.
Withdrawal Policy: Students are advised to withdraw from the course if they have not
completed the required work by the "Last Day to Withdraw." Students who do not complete all
of the required work by the end of the course will receive a letter grade based on the work
completed. There will be no grades of "incomplete" given. Note that the professor cannot
withdraw you from class. You must complete a drop form with Admissions and Records to
formally withdraw. The last day to withdraw this Summer Session is June 24th.
Collin College Academic Policies: Collin College Academic Policies: Any situation in which
cheating or other unethical activity is suspected will be brought to the attention of the Dean of
Students for adjudication and disposition. Do your own work. The penalty for scholastic
dishonesty is normally a grade of zero on the work in question. See the current Collin Student
Handbook for additional information. My personal penalty for anyone caught even thinking
about cheating in my class is an automatic zero and potential dismissal from class along
with a report to the Dean of Students. Cheating will NOT be tolerated (in any form, eyes
wondering, cell phones, calculators, water bottle labels, text messages, et. al.)
Americans with Disabilities Act: Collin College will adhere to all applicable federal, state and
local laws, regulations and guidelines with respect to providing reasonable accommodations as
required to afford equal opportunity. It is the student’s responsibility to contact the ACCESS
office, SCC-G200 or 972.881.5898 (V/TTD: 972.881.5950) to arrange for appropriate
accommodations. See the current Collin Student Handbook for additional information.
Instructor's Information:
Instructor: Karen D. Horn
Office:
K237
Office Hours: by appointment
Office Phone: 972-881-5759
E-mail: KHorn@collin.edu; horn.k@verizon.net
Class Information:
Section: 1S1
Meeting times: MTWTR 8:00 a.m. to 10:00 a.m.
Meeting location: J209
Website: http://iws.collin.edu/khorn
Course Resources: * I encourage you to purchase any basic Microeconomic text book Authors suggested: My order of preference is: McConnell Brue, Arnold, Schiller, Miller,
Parkin. I suggest you go to the General Announcements of my Webpage and use one of the
Online book stores to obtain a basic microeconomics book. Get a fairly recent edition, but
it does not have to be a new book. You will need a textbook, but I provide all the updates
for Microeconomics in my PowerPoints which will be posted. The Department textbook is
O’Sullivan/Sheffrin/Perez, Economics: Principles, Applications, and Tools, 7th edition, (with
MyEconLab). Feel free to purchase that text from bookstore, but it is not mandated by me.
Attendance Policy: Attendance will be taken each class period until Census date. After
Census Date, June 12th, attendance will not be taken; however, the class is designed to
require attendance at every class session. Sessions missed are sessions lost and cannot be
made up. It has been said that 80% of success is simply being there. In this class it is more
like 97%. Regular attendance is critical to your success in this course, but I will leave it to
your good judgment as to how you prioritize your time. I have purposely constructed this
course so that in order to earn an A or B, one has to attend class. Just remember your
opportunity cost of not attending.
Method of Evaluation: Four tests = 300; 5 Quizzes (20 points each) = 100; 2 Case Study
Papers (50 points each) = 100 points Total points = 500
500-450 = A
449-400 = B
399- 324 = C
323- 248 = D
247 – 0 = F
COURSE CALENDAR:
Specific assignments and date due will be announced on the first class-meeting, but the following
general areas will be covered for the semester.
Part I
Introduction to Economics, Market Supply/Demand, Elasticity,
Part II
Consumer Choice, Production Function, Business Environment, International Economics
Part III
Four Market Models, Government and Market Failure
EXAMS:
Exams will be multiple choice and short-answer. There are 4 exams including the final exam
which will be accumulative. You may record the best 3 out of 4 of your exams for your point total.
It might be feasible that one of your exams would be completely short-answer, but the format will
be announced in class and on the Web prior to class. A calendar of specific dates will be posted on
my Website at a later date, but be cognizant that those test dates remain flexible
QUIZZES:
There will be 5 quizzes assigned throughout Summer I session. Quizzes will be taken from
previous days lecture/discussions, with an occasional current event addition. One quiz each week
Each quiz will count for 20 points.
CURRENT TOPIC TO RESEARCH AND WRITE ON:
2 Case Studies will be provided in Blackboard for you to read. You will write a paper answering the
specific questions plus provide additional research for the company named in the case. Specific writing
requirements will be provided on Blackboard. Each case, done properly following directions, will be worth
50 points
Inside information concerning economics (translation… how to get a good grade.)
1) Attend each class- history proves that the people who do not miss class are generally the
ones who earn higher grades.
2) Read assigned material before class – if that is not always possible, always go back and
read the material even after the lecture or discussion.
3) Take good notes (some people find it helpful to take notes on the text material in addition to
the notes taken in class and combine the two). Highlight in your notes the subjects
discussed in class (these most likely will be on the test.)
4) Participate in class discussions.
5) Prepare for tests.
6) Use the group discussions to expand your understanding of Macroeconomics
8) Do not overlook the questions and problems at the end of each chapter.
9) Keep a record of your own grades.
10) Allow adequate time for reading assignments- do not whip-up some answers the night
before. This instructor is seeking quality not quantity.
11) Begin to look at the world through economic eyes. There is a special way to “think in
economics.”
12) This printed Syllabus is your road map. The Webpage will signal which roads are under
construction and where the best routes are for pending assignments. Blackboard will
provide you with a forum to comment on your classmate’s opinion and give you an
opportunity to present your views. Your grades will be posted to Blackboard grade book.
If you attend to all of the above admonitions, you most assuredly will be learning, assimilating, and
analyzing economics which will produce a marginally higher grade than your peers. How much of a
margin really depends on you.
Remember….. Economics is ubiquitous.
“If you expect a nation to be ignorant and free, in a state of civilization,
you expect what never was and never will be.”
Thomas Jefferson