EC142 Principles of Microeconomics

for S1J 2009

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EC 142 Principles of Economics II (Micro)


S1J 2009 PV


Truax, Carmen R.

Other Phone

816-204-0421 cell


Semester Dates

January, 12 to March, 8 2009

Class Days


Class Time

5:30 - 9:50 PM

Credit Hours



Case & Fair. Principles of Economics 8th edition. Pearson-Prentice Hall, 2007. ISBN 0-13-222721-5
Case & Fair. Principles of Microeconomics 8th edition. Pearson-Prentice Hall. ISBN 0-13-228897-4

Textbooks can be purchased through the MBS bookstore

Textbooks can be purchased through the Parkville Bookstore

Additional Resources:

McAfee Memorial Library - Online information, links, electronic databases and the Online catalog. Contact the library for further assistance via email or at 800-270-4347.
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Course Description:
A study of the market mechanism and the organization of production and  distribution activities in society. A major focus is on the determination of  prices of goods and factors of production. Analysis of the firm as the main  institution in the market. 3:0:3

Educational Philosophy:
This course will be based on lectures, readings, case studies, study guides, quizzes, examinations, lesson assignments, videos, newspaper analysis, PowerPoint presentations, webquest and two group projects. The instructor will engage each learner in what is referred to as disputatious learning to encourage the lively exploration of ideas, issues, and contradictions. The final exam is an comprehensive exam based in the core assesment from Park University.

Learning Outcomes:
  Core Learning Outcomes

  1. Graph supply and demand in a single graph, define basic items or concepts related to the graph, and use the graph to explain the process by which a good's equilibrium price and quantity are attained.
  2. Determine the value of the costs of the firm and graph them. Graph the short-run profit or loss situation of the competitive firm and show how it affects the industry supply and demand.
  3. Use basic indifference curve and budget line analysis to determine a demand curve.
  4. Determine own-price elasticity of demand given price and quantity-demanded data.

Core Assessment:

All Park University courses must include a core assessment that measures the course Learning Outcomes. The purpose of this assessment is to determine if expectations have been met concerning mastery of learning outcomes across all instructional modalities. For this course, the core assessment is a final exam to be administered in all sections of EC 142. This exam is worth 30 percent of the student’s final grade and will test students’ mastery of core learning outcomes through Multiple Choice, Tools and Methods of Economics questions, Quantitative Critical Thinking Problems, and Graphical Problems in the Communications section. For each core learning outcome, the student should be prepared to draw the relevant graph; define basic concepts or policies; determine costs, revenue and profit levels; and state final impacts on the individual, firm, and/or industry.

Link to Class Rubric

Class Assessment:
Lesson assignments, four quizzes, newspaper article analysis, portfolio, two group projects, study cases discusion and two examinations. Lesson assignments will involve class participation, reading assignments, homework and class activities. The mid term and the final exams are closed books and notes.


Lesson assignments 8 x 10 points each              80 points            13%

Newspaper article   1 x 30 points                     30 points             5 %

Quizzes                   4 x 20 points each              80 points             13%

Group Presentation # 1 1 x 50 points                 50 points             8%

Group Presentation # 2 1 x 50 points                 50 points             8%

Portfolio                        1 x  30 points                30 points             5%

Mid Term Exam            1 x  100 points             100 points           17%

Comprehensive Final Exam   1 x  180 points      180 points           30%

Total                                                                 600 points         (100%)

Grades for the course will be assigned as a percentage of points from total possible, as follows:

 A = 90% or more

 B = 80% or more

C = 70% or more

 D = 60% or more

F = Less than 60%

In addition, any student who misses three classes, regardless of whether or not the absence is excused, will be administratively withdrawn.

The course grade for students will be based on the overall average of homework and tests taken during the course in accordance with the weighting of the various requirements as stated in the syllabus.

All final exams in all School of Business and Management courses will be comprehensive and will be closed book and closed notes. They will constitute 30% of the total course grade and will not be a take-home exam. They will be completed during the test week in the period designated by the registrar or by the Proctor in the case online courses. If calculators are allowed, they will not be multifunctional electronic devices that include features such as: phones, cameras, instant messaging, pagers, and so forth. Electronic Computers will not be allowed on final exams unless an exception is made by the Dean of the School of Business and Management.

Late Submission of Course Materials:
The instructor will not accept assignments late. Assignments not submitted on the due date or students who are absent for group project presentation will receive a grade of “zero”. No make up is allowed for Final Exam.

Classroom Rules of Conduct:
Student will complete study guides, homework, study case, article analysis, and group projects before to arrive to the next class. Student should arrive on time. Quizzes and exams will be taken at the beginning of the class.

Course Topic/Dates/Assignments:




Quiz/ Exam


The Scope and Method of Economics   

The Economic Problem

Reading Assignment:

Chapter 1 and 2


Demand and Supply

The Market System   

Reading Assignment:

Chapter 3 and 4

Chapter 1  and 2
3 Elasiticity of demand and Supply

Reading Assignment:

Chapter 3 and 4

Chapter 3 and 4
4 Household Behavior and Consumer Choice

Newspaaper Article Analysis

Reading Assignment: Chapter 6

5 The Cost of Production

Reading Assignment: Chapter 6


Exam I

Perfect Competition and Monopoly

Monopolistic Competition and Oligopoly

Reading Assignment: Chapter 12, 13, and 14 Chapter 9
7 Presentation of Economic Topics Webquest Chapter 12,13,and 14
8 Comprehensive Final Exam

Academic Honesty:
Academic integrity is the foundation of the academic community. Because each student has the primary responsibility for being academically honest, students are advised to read and understand all sections of this policy relating to standards of conduct and academic life.   Park University 2008-2009 Undergraduate Catalog Page 87

Plagiarism involves the use of quotations without quotation marks, the use of quotations without indication of the source, the use of another's idea without acknowledging the source, the submission of a paper, laboratory report, project, or class assignment (any portion of such) prepared by another person, or incorrect paraphrasing. Park University 2008-2009 Undergraduate Catalog Page 87

Attendance Policy:
Instructors are required to maintain attendance records and to report absences via the online attendance reporting system.

  1. The instructor may excuse absences for valid reasons, but missed work must be made up within the semester/term of enrollment.
  2. Work missed through unexcused absences must also be made up within the semester/term of enrollment, but unexcused absences may carry further penalties.
  3. In the event of two consecutive weeks of unexcused absences in a semester/term of enrollment, the student will be administratively withdrawn, resulting in a grade of "F".
  4. A "Contract for Incomplete" will not be issued to a student who has unexcused or excessive absences recorded for a course.
  5. Students receiving Military Tuition Assistance or Veterans Administration educational benefits must not exceed three unexcused absences in the semester/term of enrollment. Excessive absences will be reported to the appropriate agency and may result in a monetary penalty to the student.
  6. Report of a "F" grade (attendance or academic) resulting from excessive absence for those students who are receiving financial assistance from agencies not mentioned in item 5 above will be reported to the appropriate agency.

Park University 2008-2009 Undergraduate Catalog Page 89-90

Disability Guidelines:
Park University is committed to meeting the needs of all students that meet the criteria for special assistance. These guidelines are designed to supply directions to students concerning the information necessary to accomplish this goal. It is Park University's policy to comply fully with federal and state law, including Section 504 of the Rehabilitation Act of 1973 and the Americans with Disabilities Act of 1990, regarding students with disabilities. In the case of any inconsistency between these guidelines and federal and/or state law, the provisions of the law will apply. Additional information concerning Park University's policies and procedures related to disability can be found on the Park University web page: .


CompetencyExceeds Expectation (3)Meets Expectation (2)Does Not Meet Expectation (1)No Evidence (0)
Critical Thinking                                                                                                                                                                                                                                          
Problems requiring calculations with a Maximum value of 80 Points                                                                                                                                                                                                                                                                                                                                                                                                                                                    
Nearly all causes or processes of economic phenomena are perfectly identified and stated. (72 points or more of 80 points) Most causes or processes of economic phenomena are correctly identified and stated. (56 to 71 points of  80 points) Most causes or processes of economic phenomena are not correctly identified and stated. (40 to 55 points  of 80 points) No causes or processes of economic phenomena are stated clearly. (0 to 39 points of  80 points) 
Effective Communication                                                                                                                                                                                                                                    
Graphical Problems and completion of Graphs with a maximum value of 80 points.                                                                                                                                                                                                                                                                                                                                                                                                                                       
All definitions of curves or items identified on graphs are stated nearly perfectly.  (72  points or more of 80 points) Most definitions of curves or items identified on graphs are stated correctly. (56 to 71 points of 80 points) Most definitions of curves or items identified on graphs are not stated correctly. (40 to 55 points of 80 points) No definitions of curves or items on graphs are stated clearly.
(0 to 39 points of 80 points)
Tools and Methods of Economics                                                                                                                                                                                                                             
This examines tools and methods of economic analysis using multiple-choice questions with a maximum value of 140 points.                                                                                                                                                                                                                                                                                                                                                                                             
All definitions of are stated nearly perfectly.  (126 points or more of 140 points) Most definitions are stated correctly. (98 to 125 points of 140 points) Most definitions are not stated correctly. (70 to 97 points of 140 points) No definitions are stated clearly.
(0 to 69 points of 140 points)


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Last Updated:12/12/2008 4:14:59 PM