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EC 142 Principles of Economics II (Micro)
Boor, Randall 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

S1T 2006 DLC

Faculty

Boor, Randall L.

Title

Associate Professor of Business

Degrees/Certificates

B.A.: (Economics) Moorhead State University, Moorhead, MN
M.S.: (Economics) North Dakota State University, Fargo, ND

Office Location

1905 12th Ave S.E. Mandan, ND  58554

Office Hours

Tuesday - Friday 6:00 - 9:00 PM CST and by appointment

Other Phone

(701) -667-1341

E-Mail

Randall.Boor@pirate.park.edu

Web Page

http://www.umary.edu/faculty/rboor/

Semester Dates

01/09/06 - 03/05/06

Class Days

TBA

Class Time

TBA

Prerequisites

None

Credit Hours

3


Textbook:
Microeconomics, McConnell Brue, 16th Edition
ISBN 007298273X
Soft cover with DVD, Discover Econ Online and Paul Solman videos
Textbooks can be purchased though the MBS bookstore

Textbooks can be purchased though the MBS bookstore

Additional Resources:
1)Microeconomics Online Learning Center
2)DVD and access to the on-line Discoverecon website that is provided with a new textbook
3)Online subscription service (Optional)
AmosWEB eTutor is an online subscription service containing basic economic information, including tutorial material for introductory microeconomics and introductory macroeconomics.

http://highered.mcgraw-hill.com/sites/0072875615/student_view0/index.html
http://www.amosweb.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:
My educational philosophy emphasizes interactivity based on readings, lectures, individual discussion threads, groupwork activities, homework assignments and exams. Web-based activities are used as a research tool that allows students to analyze contemporary topics of interest from the economic perspective.

  Instructor Learning Outcomes

  1. Discuss the tradeoffs faced by an economy and how this relates to the concept of opportunity cost using the production possibilities model.
  2. Explain the process by which the equilibrium price and quantity of a good are attained using demand and supply analysis.
  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. Show graphically the marginal cost, average total cost, and average variable cost curves; explain the shape of each curve.
  5. Show graphically the long-run average total cost curve and explain economies of scale, diseconomies of scale, and constant returns to scale
  6. Show graphically the long-run profit maximizing out of firms within the market structures of perfect competition, monopoly, monopolistic competition and oligopoly; discuss the economic efficiency of each market structure.
Class Assessment:
Weekly Assignments
Mid Term Exam
Comprehensive Exam
Weekly Groupwork
Weekly Discussion
Weekly Quizzes

Grading:
The following percentages will be used to assign course grades:
90% - 100% A
80% - 89%  B
70% - 79%  C
60% - 69%  D
Below 60%  F
The work you do in this class is valued as follows:
Weekly assignments   28% of your grade (2,800 points).
Mid term exam        20% of your grade (2,000 points).
Comprehensive exam   30% of your grade (3,000 points)
Weekly groupwork      8% of your grade   (800 points)
Weekly discussions    8% of your grade   (800 points)
Weekly Quizzes        6% of your grade   (600 points)
Total               100% of your grade (10,000 points)


Late Submission of Course Materials:
Weekly work must be submitted not later than Sunday midnight of each week.  Late work will not receive full grade credit. Work not turned by the due date, but which is turned in no more then 7 days late, will receive 1/2 the score it would have received otherwise. Homework not received within 7 days of the due date will not be scored. No work received after the last Saturday of the term will be scored.

Course Topic/Dates/Assignments:
Week 1: Our objective is to understand microeconomic terms and concepts.  We will study the nature and method of economics, the economizing problem and review graphing.  The reading assignment for week 1 includes chapters 1 and 2 in the text.

Week 2: We will take a look at market models and the important concepts of supply and demand.  The reading assignment includes chapters 3 and 4 in the text.

Week 3: We'll learn about the important concept of elasticity and look at the elasticity of supply and the elasticity of demand.  Then we'll consider consumer behavior in the marketplace and utility maximization. The reading assignment for this week includes chapters 7 and 8 in the text.

Week 4: We'll have a Mid Term Exam and learn about the costs of production.  The midterm exam covers all course materials through chapter 8.  We'll learn about both implicit and explicit costs. The reading assignment is chapter 9 in the text.  Also, your proctor forms are due to be in your instructor's hands this week.

Week 5: We begin our view of specific market types by looking at markets based upon pure competition and on pure monopoly.  The reading assignment this week includes chapters 10 and 11 in the text.

Week 6: We continue looking at different markets by studying monopolistic competition and oligopoly. The focus here is to understand the differences and similarities in their structure and operation.  The reading assignment this week is chapter 12 in the text.

Week 7: This week we will look at a different market that does not involve production, the resource market.  Specifically we will review the demand for resources and wage determination in the labor market.  The reading assignment includes chapters 14 and 15 in the text.

Week 8: This will be a busy week. The policy at Park University is for each of you to take a significant, proctored exam during the Eighth week of the class.  Unless you are more then two hours from the nearest Park site, you are expected to take the exam at one of the Park sites.  We will also review current economic events using concepts that you have learned from the course.

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

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.
ONLINE NOTE: An attendance report of "P" (present) will be recorded for students who have logged in to the Online classroom at least once during each week of the term. Recording of attendance is not equivalent to participation. Participation grades will be assigned by each instructor according to the criteria in the Grading Policy section of the syllabus.

Park University 2005-2006 Undergraduate Catalog Page 89

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:

This material is copyright and can not be reused without author permission.