Syllabus - Economics 201 Spring 2005

Spring 05 Classes
Spring 05 Calendar

Northeast Learning Center

Economics 201 Syllabus

Course Information:
Course Prefix/Number: ECN 201 Course Title: Microeconomic Principles
Semester: 200520 (Spring 2005) CRN (Section Code): 26575
Prerequisites: MAT 092 Estimated Study Time: 120 hours/semester
Day/Time: M 5:30-8:30 p.m Location: NELC
Teaching Format: Self Pace
Course Web Pages:
http://nugent-economics.blogspot.com/ (Blog for Course)
http://www.nofreelunch.bravehost.com (Instructor's Web Site)
http://pub23.bravenet.com/calendar/show.php?usernum=1971912999 (Calendar)

Instructor Information:
Name: Chuck Nugent
U.S. Mail: Pima Community College
Northeast Community Learning Center
Catalina Village Shopping Center
7816 E. Wrightstown Rd.
Tucson, AZ 85709-5800
Phone/Voice Mail: (520) 544-4870
E-mail: nugentwork@yahoo.com
Availability: M 5:30 – 8:30 p.m. or by appointment

Instructional Materials:
Required Text: Arnold, Roger A., Microeconomics (6th Edition)
ISBN: 0-324-16356-8
Assignment Packet: Available from Instructor at first Class.
Note: Textbooks are available at the East Campus Bookstore (ask for Northeast Learning Center books) and other academic bookstores in town. The PCC Bookstore can be accessed and books ordered via the Internet at www.Pima.bkstr.com.


Course Description: Economic theory as applied to individual decision-making units. Includes economic decision making, economic systems, consumer demand, producer supply, price determination, elasticity, cost-benefit analysis and utility and profit maximization. Also includes production functions and costs, competition and market structures, government in the market economy, labor markets, and income distribution.


Course Objectives: Upon completion of the course, the student will be able to:
1. Define scarcity, microeconomics and macroeconomics, economic theory and economic policy, factors of production, production possibilities model, and opportunity cost.
2. Explain a market and the Invisible Hand Doctrine, society's basic economic decisions, the market economy as compared and contrasted with the planned economy.
3. State and illustrate the law of demand, law of supply, equilibrium price and quantity, shift variables for demand and supply, price elasticity of demand and supply and circular flow model.
4. Discuss the economic objectives of households and businesses and maximization of utility and profit.
5. Describe two approaches for determining profit maximization, explicit and implicit costs, as well as accounting and economic profit.
6. Explain cost-benefit analysis as it applies to households and to businesses, and to society including its relationship to externalities.
7. Give examples of production functions, short and long run as applied to economics, fixed and variable costs, average and marginal costs, and economies and diseconomies of scale.
8. Compare and contrast the four basic market structures (competition, monopolistic competition, oligopoly, and monopoly): basic characteristics, long run profitability, efficiency, impact on the consumer, and determination of profit-maximizing level of output.
9. Explain why and how government intervenes in the market economy with particular reference to antitrust law and governmental regulatory agencies.
10. Discuss wage rate changes, income distribution, and poverty as defined and addressed by the government.



Course Outline:

I Introduction

A. What is Economics about
B. Economic Activities: Producing and Trading
C. Supply and Demand: Theory
D. Supply and Demand: Practice

II Microeconmic Fundamentals

A. Elasticity
B Consumer Choice: Maximizing Utility and Behavioral Economics
C The Firm
D Production and Costs

III Product Markets and Policies

A. Perfect Competition
B. Monopoly
C Monopolistic Competition, Oligopoly, and Game Theory
D Government and Product Markets: Antitrust and Regulation

IV Factor Markets and Related Issues

A. Factor Markets with emphasis on the Labor Market
B Wages, Unions, and Labor
C The Distribution of Income and Poverty
D. Interest, Rent and Profit

V Market Failure and Public Choice

A. Market Failure: Externalities, Public Goods, and Asymmetric Information
B. Public Choice: Economic Theory Applied to Politics

VI International Economic: Theory and Policy

A International Trade
B International Finance


Course Requirements: To complete the course successfully, students must do the following:

1. Complete and submit the five (6) assignments (one for each unit)
2. Complete and submit take home tests for units 1, 2, 4 and 5
3. Take midterm exam at Test Center (closed book)
4. Take final exam at Test Center (closed book)



Attendance: This course is self paced and students are only required to attend the first class. The instructor will be available during scheduled class times for assistance and to collect written assignments from students.

Academic Integrity: All work done for this class must be your own. While you may discuss assignments with other class members, all work MUST be your own. You may use work from books and other materials if it is properly cited. Copying from a book or other print or electronic media without proper reference will result in a zero (0) score for the assignment. Submitting work done by another person/entity (published or unpublished) as your own will result in an F for the course. Students are expected to abide by the Student Code of Conduct and the Scholastic Code of Conduct found in the Pima Community College Student Handbook. Copies are available at PCC campus libraries and at http://www.pima.edu/~coadmissions/studresp.htm.

ADA Compliance: Pima County Community College District strives to comply with the provisions of the Americans with Disabilities Act and Section 504 of the Rehabilitation Act. Students with disabilities requiring special accommodations must notify the instructor of this need or directly contact the Disabled Student Resources Office on your campus at the beginning of the semester.

Course Feedback: In order to increase interaction between instructor and students, students are encouraged (but not required) to submit written work via e-mail. Assignments may be submitted as part of body of e-mail text itself or as an ASCII or Ms-Word (version 2000 or lower) email attachment. Using e-mail for this purpose will increase the speed at which your instructor can return assignments with grades and comments. Students are also encouraged to submit questions about course content via e-mail and the instructor will reply to questions via e-mail to all students on e-mail list (presence on this list is optional). Students may also submit assignments via the U.S. Postal Service (see address on first page) or deliver it to NELC in person.

Exams: One exam will be given for each of the six units (see outline above or the "Brief Contents" on page iii of your book). The exams for units 1, 2, 4 and 5 will be open book take home exams. The exams for units 3 and 6 will be closed book, proctored exams taken at the college.

Problems: If you have problems with the course, make arrangements to see me or call me through voicemail. Do not wait to ask for help.

Submissions: Please clearly mark all assignments with the following: NUGENT:ECN201. Include full name on both e-mail and regular submissions. Submissions other than via e-mail are to be typed.

Withdrawals: Students may withdraw from class any time during the first 2/3 of the semester (through April 6, 2005) without instructor permission and without incurring any grade penalty. Students not active after this date will receive an "F" grade at the end of the semester. Please be sure to withdraw yourself by April 6, 2005, if you do not expect to complete the course.

Caveats:
Your instructor will make every attempt to follow the above procedures and schedules, but they may be changed in the event of extenuating circumstances.

Students submitting assignments through the mail are advised to make copies for their own protection.

Because so much of our contact with you is through the U.S. Postal Service, it is vital that we have your correct address. If you change your address during the semester, fill out a change of address form at any campus registration office and call our office at 206-6454 to keep our staff up to date.


ECN 201 Grading Policies

Students’ grades will be based upon scores received on exams and assignments. Exams and assignments together total 1,050 points. The student’s final grade for the course will be based upon the total points earned divided by 1,000 and curved as follows:

920 to 1000 points A
820 to 919 points B
740 to 819 points C
650 to 739 points D
Below 650 points F


Point values for assignments and exams:

Unit 1 Assignment 50 points
Unit 1 Take Home Exam (Chaps 1 – 4) 125 points
Unit 2 Assignment 50 points
Unit 2 Take Home Exam (Chaps 5 - 6) 125 points
Unit 3 Assignment 50 points
Unit 3 Proctored Exam (Chaps 7 - 11) 125 points
Unit 4 Assignment 50 points
Unit 4 Take Home Exam (Chaps 12 - 15) 125 points
Unit 5 Assignment 50 points
Unit 5 Take Home Exam (Chaps 16 – 17) 125 points
Unit 6 Assignment 50 points
Unit 6 Proctored Exam (Chaps 18 – 19) 125 points


Incomplete (I) grade:
If you find that you cannot complete the course during the regular semester, you must request an “I” (incomplete grade) in writing. This must be done before the final review session. You must state your reasons for the request. In order to be considered for an “I” grade, you must have successfully completed three-quarters of the course. YOU MUST THEN COMPLETE THE MISSING WORK WITHIN THE TIME AGREED UPON WITH THE INSTRUCTOR . AT THE END OF THE AGREED UPON TIME, THE INSTRUCTOR WILL CHANGE THE “I” GRADE TO THE LETTER GRADE EARNED FOR THE COURSE AT THAT POINT WHETHER YOU HAVE COMPLETED THE WORK OR NOT.

Special Withdrawal (Y) grade:
Students desiring to withdraw from the class must do so prior to April 6, 2005, which is the last day allowed for withdrawals. THE INSTRUCTOR WILL NOT ISSUE “Y” GRADES.

Midterm and Final Exams the "Unit 3 Proctored Exam" and "Unit 6 Proctored Exam" (see Point Values for Assignments and Exams above) will constitute the Midterm and Final exams for this course.

Other Assignments and Exams:
All assignments and exams other than the mid-term and final will be done by the students at their homes. Books and may be used as aids to complete these exams and assignments which are available from the NELC or from the course web page located at: http://www.nofreelunch.bravehost.com

Final Grades:
Students will receive a semester grade report from the college when all grades have been recorded. For privacy and security reasons, instructors may not post grades and are advised NOT to give grades over the telephone. Students who wish to check grades may call MAX 2000 at 206-4880.

Note: To help your instructor to improve this course, a variety of classroom assessment techniques may be used to determine if this course is meeting its stated objectives. Such techniques may include but are not limited to, short answers regarding comprehension of the material presented, pre- and post-tests, student interviews, self-evaluations, portfolio, journal and/or capstone experience. Because this course fulfills a general education requirement, you will also be assessed on whether student skills have improved in any of the following areas: oral and written communication, critical inquiry, cultural diversity, and global awareness.


Syllabus Acknowledgment Form

ECN 201 – Economic Principles - CRN 26575

Please sign and return the following acknowledgment to me at the following address:

Chuck Nugent
Pima Community College
Northeast Community Learning Center
Catalina Village Shopping Center
7816 E. Wrightstown Rd.
Tucson, AZ 85709-5800

Name:


Student Number:


E-mail Address (optional):


Please add me to the Class E-Mail list. I understand that this will involve broadcasting any course content questions that I submit along with the instructor’s answer to all other class members on the list.

Separate signature required.__________________________________________

____ I hereby acknowledge that I have read and understand the ECN 201(Macro Economic Principles) course syllabus which includes objectives, policies and class schedule.

____I have no objection to receiving an occasional call from the instructor at the number given with my
registration materials.

____I prefer that the instructor not call or contact me by phone anytime during the semester.

____I would like to be contacted by the instructor regarding the following concerns:





Signature ________________________ Phone #_____________________________


Date ____________________________ Student ID # ________________________