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EC 142 Principles of Economics II (Micro)
Kozak, Virginia L.


Mission Statement: The mission of Park University, an entrepreneurial institution of learning, is to provide access to academic excellence, which will prepare learners to think critically, communicate effectively and engage in lifelong learning while serving a global community.

Vision Statement: Park University will be a renowned international leader in providing innovative educational opportunities for learners within the global society.

Course

EC 142 Principles of Economics II (Micro)

Semester

S1H 2006 BU

Faculty

Kozak, Virginia L.

Title

Senior Adjunct Instructor

Degrees/Certificates

BA cum laude
MS
MBA

Other Phone

521-4819

E-Mail

Virginia.Kozak@park.edu

ginniek@rocketmail.com

Web Page

http://www.lowcountryrevtrail.org

Semester Dates

09 Jan 06-05 Mar 06

Class Days

--T-R--

Class Time

7:35 - 10:05 PM

Credit Hours

3


Textbook:
Case and Fair, Principles of Economics, Prentice Hall, 6th edition

Textbooks can be purchased though the MBS bookstore

Textbooks can be purchased though the Parkville Bookstore

http://www.economist.com
http://www.businessweek.com
http://www.marketwatch.com

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:
The instructor's educational philosophy is to involve the student thoroughly in the learning process by means of class discussions, projects and problem-solving.  Through the frequent use of up-to-the-minute "real-world" examples, the instructor will endeavor to ensure that the principles of economics are as relevant and understandable as possible to students, no matter what their academic and work backgrounds are.

  Instructor Learning Outcomes

  1. 1.  Discuss the tradeoffs faced by an economy and how this relates to the concept of opportunity cost using the production possibilities model
  2. 2.  Explain the process by which the equilibrium price and quantity of a good are attained using supply and demand analysis
  3. 3.  Show graphically and explain how price elasticity of demand varies along a given linear demand curve; compare this to the relationship between price elasticity of demand and the slope of a demand curve.
  4. 4.  Show graphically the marginal cost, average total cost and average variable cost curves; explain the shape of each curve.
  5. 5.  Show graphically the long-run average total cost curve and explain economies of scale, diseconomies of scale and constant returns to scale.
  6. 6.  Show graphically the long-run profit-maximizing output of a perfectly competitive firm, a monopolistic firm and a monopolistically competitive firm; discuss the economic efficiency of each industry type.
  7. 7.  Explain the role of government in the economics of pollution control and other externalities.
  8. 8.  Discuss the relationship between taxation and income distribution.
Class Assessment:
Tests (3)            65%
Project              25%
In-Class Problems    10%

TOTAL               100%

Grading:
90-100           A
80-89            B
70-79            C
60-69            D
Less than 60     F
or 3 or more unexcused absences

Late Submission of Course Materials:
The student must discuss the late submission with the instructor prior to the due date.  If there is a valid reason (e.g., military deployment) for the late submission, it is possible that no points will be deducted for lateness.  If the students does not make prior arrangements and/or there is no valid reason for late submission, points will be deducted by degree/amount of lateness.

Classroom Rules of Conduct:
Responsible adult behavior is expected at all times.

Class Session

Discussion Topics and Class Activities

Assignments

Tests

Meeting - 1

Review and discuss Demand, Supply, Price Elasticity; see video

Read and be prepared to discuss Chapters 3-4

 

Meeting - 2

Discuss Household Behavior and Consumer Choice

Read and be prepared to discuss Chapter 5

 

Meeting - 3

Discuss The Production Process

Read and be prepared to discuss Chapter 6

 

Meeting - 4

 

 

TEST on Chapters 3-6

Meeting - 5

Discuss Short-Run Costs and Output Decisions

Read and be prepared to discuss Chapter 7

 

Meeting - 6

Costs and Output Decisions in the Long Run

Read and be prepared to discuss Chapter 8

 

Meeting - 7

Input Demand:  Labor and Land Markets

Read and be prepared to discuss Chapter 9

 

Meeting - 8

Input Demand:  The Capital Market and Investment Decisions

Read and be prepared to discuss Chapter 10

 

Meeting - 9

 

 

TEST on Chapters 7-10

Meeting - 10

General Equilibrium and the Efficiency of Perfect Competition

Read and be prepared to discuss Chapter 11

 

Meeting - 11

Monopoly and Antitrust Policy; see video

Read and be prepared to discuss Chapter 12

 

Meeting - 12

Monopolistic Competition and Oligopoly

Read and be prepared to discuss Chapter 13

 

Meeting - 13

Externalities

Read and be prepared to discuss Chapter 14

 

Meeting - 14

Income Distribution and Poverty

Read and be prepared to discuss Chapter 15

 

Meeting - 15

Public Finance

Read and be prepared to discuss Chapter 16; turn in project.

 

Meeting - 16

 

 

FINAL TEST, emphasizing Chapters 11-16


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 2005-2006 Undergraduate Catalog Page 85-87

Plagiarism:
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 2005-2006 Undergraduate Catalog Page 85-87
Plagiarism may result in the lowering of the grade for the assignment or the course, or even failure--depending upon the degree of plagiarism.

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 "WH".
  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 2005-2006 Undergraduate Catalog Page 89

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. Park University is committed to meeting the needs of all learners that meet the criteria for special assistance. These guidelines are designed to supply directions to learners 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 American with Disabilities Act of 1990, regarding learners with disabilities and, to the extent 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: http://www.park.edu/disability .

Additional Information:

Copyright:

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