Department of Economics
Syllabus for Economics 201 Online
Summer Quarter 2014
Instructor Information
Prof. D.W. Hedrick, Ph.D.
E-mail: dhedrick@cwu.edu,
Office Hours: M and T & TH 4-6PM. and by appointment.
Skype Address: professor.hedrick
Web Page: www.cwu.edu/~dhedrick/
Professor Availability:
This is an on-line course, but I am not “on-line” 24/7. My office hours are given above.
You can e-mail me questions and I will respond within 24 hours during the work week
(M-F 8am-6pm). I would also like you to post questions to the discussion section in
Aplia. That way, the answers can be shared with everyone. I will not be available during
the weekends, so plan accordingly! Remember the mini-exams are generally due on
Sunday evening but they can be done before then. I will be available to speak with you
on Skype during my office hours times and, if your see that I am on-line in Skype feel
free to call me. I may not be able to answer immediately all the time, but I will call you
back as soon as possible.
This is the first time this course has been offered on-line so pleased be patient.
Problems will occur and we will have to work them out as we go.
Course Description:
The function of the market system in the allocation of scarce resources, determination of
prices and output in competitive and monopolistic markets, and distribution of income.
The role of government in the market economy.
Statement of Purpose
Students will be introduced to economic perspectives on human and social behavior, as
well as the relevance of the economic way of thinking to addressing problems that face
individuals and society. They will become familiar with the nature of the tools used in
economic analysis and learn how these tools can be used to understand “real world”
issues.
We will discuss the following topics and concepts:
 Introduction to economics, including the concepts of scarcity and choice
 Supply, demand, and market equilibrium
 Elasticity
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Efficiency of markets
Cost
Market structures – competition, monopoly, monopolistic competition, and oligopoly
Profit maximization by firms
Market failure
Course Outcomes
By the end of the course, students are expected to:
 Speak to the topics and concepts listed above;
 Demonstrate critical thinking skills with regard to personal, business, and government
decisions; and,
 Quantitatively and graphically apply economic theory to “real world” issues.
Textbook
The Aplia Access Code and the custom published textbook are in the bookstore.
The course code is P3C9-CYPE-HJUW
Required:
(1) Mankiw, N. Gregory, Principles of Economics, 7th Edition, Thomson –
SouthWestern, c2014, (Bundled with the access code and sold in the bookstore also onlien through Aplia).
(2) Aplia – An internet-based tutorial and homework program that will be used for the
required homework (go to Aplia.com). See below for registration information;
Suggested Reading: The Wall Street Journal
The Economist
Course Requirements
By virtue of enrollment in a College of Business Course class, all students are required to
commit themselves to learning the material and to acting in a civil manner and be
respectful of their peers and the professor. Behaviors contrary to the above will result in
disciplinary action and possible expulsion from the class.
Grades will be based on six mini-exams, Aplia homework and discussion participation.
All Mini-exams, except the last one (due on Friday at 11pm the end of the summer
session), are due on Sunday at 11pm and are timed. Once you start the exam you must
finish it in the designated time. Each mini-exam will count for 100 points. Aplia will
count for 600 points. Aplia will be graded 50% on participation and 50% on performance.
Each Aplia assignment counts the same and your score is tracked using the average
percentage of all Aplia assignments. Discussion Participation will be considered when
post grades and students are near a grade breakpoint. Grades will be posted an update on
my website www.cwu.edu/~ dhedrick (click current courses).
Each week online homework sets will be assigned using the innovative online service
provided by Aplia. Using the code given above students will setup an individual Aplia
account (go to http://www.aplia.com). The first assignment includes a tutorial on
mathematics and graphing that begins with a pretest and ends with a posttest. Prior to
subsequent assignments, students will have the opportunity to take an practice (not
graded) assignment. The Aplia program is self-contained and includes 24 hour online
and toll-free telephone support. The lowest 4 homework assignments will be dropped
and the remaining homework assignments will count for 600 points.
Course Grading
Based upon the percentage of the 1200 possible points from mini-exams, Aplia
homeworks, and attendance. The following scale will be used to determine the final
grade:
A
AB+
B
BC+
C
CD+
D
DF
>=93%
>=90% and <93%
>=87% and <90%
>=83% and <87%
>=80% and <83%
>=77% and <80%
>=73% and <77%
>=70% and <73%
>=67% and <70%
>=63% and <67%
>=60% and <63%
<60%
Course Outline (Subject to change as circumstances indicate)
Topic
I . Introduction to Economics
Principles of Economic Thinking
Voluntary Exchange
II. Introduction to Demand and Supply
Market Demand and Supply
Elasticity
Government Policies and Markets
II. Markets and Economic Welfare
Efficiency of Markets
Taxation
IV. Economics of the Public Sector
Externalities
Public Goods and Common Resources
Text Chapter(s)
1, 2
3
4
5
6
7
8
10
11
V.
Firm Behavior and Market Organization
Costs of Production
Competitive Firms
Monopoly
Oligopoly
Monopolistic Competition
13
14
15
16
17
Miscellaneous
Cheating is a violation of both University and College ethical standards. Students who
engage in cheating will be dealt with at the discretion of the professor. Cheaters will
receive either F on an assignment/examination or for the entire course.
Students with Disability
Students with disabilities who wish to set up academic adjustments in this class should
give the professor a copy of their “Confirmation of Eligibility for Academic
Adjustments” form from the Disability Support Services Office at the beginning of the
course. Appropriate accommodation will be determined. Students with disabilities
without this form should contact the Disability Support Services Office, Bouillon 205 or
dssrecept@cwu.edu or 963-2171.
The above schedule and procedures in this course are subject to change and will be
announced by the professor.
How to access your Aplia course
Principles of Microeconomics, Summer 2014
Instructor: Prof. Hedrick
Start Date: 06/23/2014
Course Key: P3C9-CYPE-HJUW
Registration
Aplia is part of CengageBrain, which allows you to sign in to a single site to access your
Cengage materials and courses.
1. Connect to http://login.cengagebrain.com/
2. If you already have an account, sign in. From your Dashboard, enter your course
key (P3C9-CYPE-HJUW) in the box provided, and click the Register button.
If you don't have an account, click the Create a New Account button, and enter
your course key when prompted: P3C9-CYPE-HJUW. Continue to follow the onscreen instructions.
Payment
Online: After registering, you can buy access to Aplia from myhome.cengagebrain.com.
Bookstore: Purchase access to Aplia from your bookstore. Check with the bookstore to find
out what they offer for your course.
If you choose to pay later, you can use Aplia without paying until 11:59 PM on 07/10/2014.
For more information on registering for Aplia, please visit
http://www.cengagebrain.com/aplia/.