MASTER COURSE OUTLINE
Big Bend Community College
Date: March 2008
DEPT: ECON&
NO: 201
(Formerly: ECO 202)
COURSE TITLE: Micro Economics
CIP Code: 45.0601
Intent Code: 11
SIS Code: N/A
Distribution Desig.: Social Science
CREDITS:
5
Total Contact Hours Per Qtr: 55
Lecture Hours Per Qtr:
55
Lab Hours Per Qtr:
Other Hours Per Qtr:
PREPARED BY: Gene Donat
COURSE DESCRIPTION: Study of the micro economy of an individual firm or industry. Output
and price of a specific product, numbers of workers, revenue, and expenses of a business are the
focus. Strongly recommend placement in MPC 095 or higher and placement in ENGL 099 or higher.
PREREQUISITE(S):
TEXT: Micro Economics (15th edition) by McConnell/Brue and study guide
COURSE GOALS:
To assist students in "seeing the trees and not just the forest." Develop an inquiring mind to ask why
something happened and what might happen in the future. Understand fundamental economics and
implications of policy alternatives in dealing with economic problems.
COURSE OBJECTIVES:
Upon successful completion of the course, the student will be able to:
--think in a more objective and logical manner when dealing with issues that deal with issues of a
particular industry, firm, or household.
--read and comprehend current publications dealing with revenues, costs, environmental issues, and
other factors that impact businesses and society.
--correctly use the terminology of economics.
COURSE CONTENT OUTLINE:
I.
Introduction to Economics and the Economy
A.
Nature and Method of Economics
B.
Economizing Problem
C.
Pure Capitalism and the Circular Flow
D.
Individual Markets: Demand and Supply
E.
Private Sectors and the Market System
F.
Public Sector
II.
III.
IV.
Microeconomics of Product and Resource Markets
A.
Demand and Supply: Elasticities and Applications
B.
Consumer Behavior and Utility Maximization
C.
Costs of Production
D.
Price and Output Determination: Pure Competition
E.
Price and Output Determination: Pure Monopoly
F.
Price and Output Determination: Monopolistic Competition
G.
Price and Output Determination: Oligopoly
H.
Production and the Demand for Resources
I.
Pricing and Employment of Resources: Wage Determination
J.
Pricing and Employment of Resources: Rent, Interest, and Profits
K.
General Equilibrium: Market System and Its Operation
Government and Current Economic Problems
A.
Government and Market Failure: Public Goods, the Environment, and Information
Problems
B.
Public Choice Theory and Taxation
C.
Antitrust and Regulation
D.
Agriculture: Economics and Policy
E.
Income Inequality and Poverty
F.
Labor Market Issues: Unionism, Discrimination, and Immigration
International Economics and the World Economy
A.
International Trade: Comparative Advantage and Protectionism
B.
Exchange Rates, the Balance of Payments, and Trade Deficits
C.
The Soviet Economy in Transition
EVALUATION METHODS/GRADING PROCEDURES:
Four objective/essay tests (100 points each, one comprehensive final exam (100 points), unannounced
quizzes (10 points each), written summary of current economic periodical pertaining to
microeconomic (25 points), out of class written chapter assignments (7 points each).
PLANNED TEACHING METHODS/LEARNING STRATEGIES:
X Lecture
Laboratory
Supervised Clinical
X Small Group Discussion
X Audiovisual
Individualized Instruction
X Special Project
Other (List)
Division Chair Approval
Shell