For all assignments, go to the MyLab and Mastery Tab.
Department of Economics
Syllabus for Economics 201
Winter 2015
Instructor Information
D.W. Hedrick, Ph.D.
Professor of Economics
Office: Shaw-Smyser 420, 963-2426, dhedrick@cwu.edu,
Office hours: Please contact using e-mail and Skype appointments can be arranged username
professor.hedrick
Web Page: www.cwu.edu/~dhedrick/
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:
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Introduction to economics, including the concepts of scarcity and choice
Supply, demand, and market equilibrium
Elasticity
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:
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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
Shrink-wrapped three-hole copies with the access code to MyEconLab are available at the CWU
Bookstore, or an on-line version of the book is available directly from Pearson on their website which
is accessible through the course Canvas site.
Required:
(1) Acemoglu, Daron, D. Laibson and J. List, “Microeconomics” Pearson. C. 2015.
(2) MyEconLab. Pearson. - An internet-program that will serve as the platform for instruction,
homework assignments, quizzes, examinations and other course requirements. Available through
Canvas.
Once you log into the Canvas course go to the MyLab and Mastery Tab and you should be
prompted to register for MyEconLab. No payment is necessary for two weeks.
Suggested Reading: The Wall Street Journal (contact Ms. Hood, Economics Dept
Secretary, hoods@cwu.edu (963-2664) or visit the Econ Office 4th floor Shaw-Smsyer for the $10
subscription for 10 weeks)
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 in all class activities.
MyEconLab is a state-of-the-art on-line learning platform. At present, it is only partially integrated
with Canvas. With the exception of graded discussions (under development), all required course
assignments will be done and grades will be reported using the MyLab and Mastery Tab (to the
left).
MyEconLab has numerous tools to help you with studying the material. Let me suggest the following
approach to learning:
(1) Read the book (Pearson eText tab and/or the hardcopy from the bookstore). The authors have
done an excellent job of structuring a interesting and provocative approach to learning
microeconomics.
(2) Use the resources available in the Chapter Resources Tab, which guide you to your assignments
and include student lecture notes (Powerpoints with notes), animations of text material, and sample
homework assignments and quizzes.
(3) Please experiment with both the "study plan" and the "dynamic study modules" (on the Mylab
Course Home page). They use adaptive technology to design a more efficacious study plan for the
student. They are not graded so you can choose to use one, both, or neither - it is up to you. The
"study plan" uses your responses in homework assignments and quizzes to alter your future study
plan to address your weaknesses. To allow you to take advantage of the adaptions you should
probably do the "study plan" after you take the homework assignments and quizzes and use it to
prepare for midterms. The "dynamic study plan" appears to be something that generates immediate
suggestions for study, therefore is probably best to take it before the homework assignments and
quizzes. I would appreciate your feedback on usefulness of these tools as you experiment with
them.
(4) To avoid the impact of unexpected changes to your schedule, do all of your homework
assignments, quizzes and midterms before they are due.
(5) I am working on creating a non-graded discussion for each chapter to allow you to ask questions
or request help on an assignment. Since it allows all students to benefit from advice, I would prefer
to use this method, rather than individual e-mails, to deal with non-personal course-related
questions. Individual e-mails will also be accepted.
Grades will be based on chapter homework assignments (15% - unlimited attempts), chapter
quizzes (25% - two attempts), and three midterm examinations (60% - one attempt). The dates for
homework assignments, quizzes and examinations are given in the MyLab and Mastery Tab/
MyEconLab Course Calendar (not in the Canvas Calendar). Homework assignments, quizzes and
midterms are made available two weeks before they are due. I am currently experimenting with
graded discussions. If I decide to use them the above grade-weighting will change.
If you fail to take a homework, they are still available to take for one day after the due date at a cost
of 15% of the grade. Quizzes and midterm dates are final and will not be changed for any
reason. Insure against unexpected circumstances by taking assignments early! I will drop the
lowest two homework assignments and the lowest two quizzes. Once again, I will not change to
quiz or midterm (see optional final below) due dates. Important: One must score 70% on the
chapter homework assignment to be eligible to take the chapter quiz.
The optional final will be due Wednesday March 15 at 12 midnight. The final will replace the
lowest midterm score, if and only if, it improves the student’s course grade.
Course Grading
I am still working on where grades will be displayed. For now, please refer to MyEconLab for you
grades on homework assignment, quizzes and midterms. This may change as we integrate graded
discussions (which will be in Canvas). 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)
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14.
The Principles and Practice Of Economics
Economics Methods and Economic Questions
Optimization: Doing the Best You Can
Demand, Supply, and Equilibrium
Consumers and Incentives
Sellers and Incentives
Perfect Competition and the Invisible Hand
Trade
Externalities and Public Goods
The Government in the Economy
Markets for the Factors of Production
Monopoly
Game Theory and Strategic Play
Oligopoly and Monopolistic Competition
Miscellaneous
This is an on-line course with all the limitations attached to on-line instruction.
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.