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EC 142 Principles of Microeconomics
Sanders, John M.


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

F1T 2006 DLC

Faculty

Sanders, John M.

Title

Adjunct Faculty

Degrees/Certificates

AAS in Allied Health Sciences
BS Health Care Managment
MBA Master of Business Administration

Office Location

Online

Office Hours

8:00 AM to 8:00 PM MST

Daytime Phone

(208) 580-2181

E-Mail

john.sanders@park.edu

Semester Dates

8/21/2006 to 10/09/2006

Class Days

TBA

Class Time

TBA

Credit Hours

3


Textbook:
Textbook:  Microeconomics, McConnell Brue, 16th Edition.                  ISBN 007298273X                 Soft cover with DVD, Discover Econ Online and Paul Solman videos.NOTE the new Text Edition effective April 2004.  Students will require the DVD and access to the on-line Discoverecon website that is provided with a new textbook.

Textbooks can be purchased though the MBS bookstore

Textbooks can be purchased though the Parkville Bookstore

Additional Resources:
Wall Street Journal: The WSJ is an excellent reference for this course. It is available at most libraries, in many offices, and other places. While not required for this course, it will enhance your understanding immeasurably.Hard copy subscriptions that include the online subscription are available to you as a student at special discounted rates. You can subscribe on-line. Click here to subscribe online! Following this link will let the WSJ folks know you are enrolled as a student in this online course. Delivery will start in a few days and they will bill you directly, usually within 3 or 4 weeks.

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.
Career Counseling - The Career Development Center (CDC) provides services for all stages of career development.  The mission of the CDC is to provide the career planning tools to ensure a lifetime of career success.
Park Helpdesk - If you have forgotten your OPEN ID or Password, or need assistance with your PirateMail account, please email helpdesk@park.edu or call 800-927-3024
Resources for Current Students - A great place to look for all kinds of information http://www.park.edu/Current/.
Advising - Park University would like to assist you in achieving your educational goals. Please contact your Campus Center for advising or enrollment adjustment information.
Online Classroom Technical Support - For technical assistance with the Online classroom, email helpdesk@parkonline.org or call the helpdesk at 866-301-PARK (7275). To see the technical requirements for Online courses, please visit the http://parkonline.org website, and click on the "Technical Requirements" link, and click on "BROWSER Test" to see if your system is ready.
FAQ's for Online Students - You might find the answer to your questions here.


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:
Welcome to Microeconomics (EC 142), on line! This course provides a thorough introduction to the field of microeconomics. This course focuses on the fundamental nature of economics, a study of choice, with economic concepts and the tools needed to be a successful leader in today's global economy. This course provides the student with an understanding of the market system, applicable to the public and private organizations. Each week we'll focus on two to three chapters in our text, Microeconomics by McConnell and Brue, Sixteenth Edition.  The following is a general guide to our course but you will want to follow the specific instructions in each weekly module.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.

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. Discuss the tradeoffs faced by an economy and how this relates to the concept of opportunity cost using the production possibilities model.
  3. Analyze graphically the marginal cost, average total cost, and average variable cost curves; explain the shape of each curve.
  4. Analyze graphically the long-run profit maximizing output of a perfectly competitive firm, a monopolistic firm, a monopolistically competitive firm, and an oligopolistic firm; discuss the economic efficiency of each industry type.
  5. Analyze graphically the long-run average total cost curve and explain economies of scale, diseconomies of scale, and constant returns to scale.


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
20 percent of the student's final grade and will test students' mastery of four
core learning outcomes (Learning Outcomes 1, 2, 3, and 4 listed on this
syllabus) through definitions, short essay, and graphing questions.  For each core learning outcome, the student
should be prepared to draw the relevant graph, define basic concepts or
policies, identify relevant shifts in the curves, and state final impacts on
relevant variables.



Link to Class Rubric

Class Assessment:

This course is offered on-line, over the Internet, using the University Online computer service. Students are expected to devote a minimum of five hours per class week logged on to the computer conferencing system - the same amount of time you'd spend in the physical classroom.

A class week is defined as the period of time between Monday and Sunday. The first week begins the first day of the semester and ends midnight on Sunday. Assignments scheduled for completion during a class week should be completed by the Sunday that ends the week.

Writing assignments and projects/problems should be completed and successfully submitted so that they are in my hands on the due date. NOTE: Because this is an online course designed to get feedback on assignments to you directly via Internet, you must make prior arrangements with me before submitting a paper via fax or any non-Internet method. If you ever have problems transmitting your assignments to me, contact me immediately, and we'll get the problem resolved.

Homework:  Weekly assignments must be submitted not later than the Sunday midnight that ends the week. Late homework will not receive full grade credit. Homework 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 online term will be scored.

Mid Term Examination:  A Mid Term Examination will be admisistered during the fourth week of the class. It will be posted into the eCollege Campus and is to be completed  alone and returned to the instructor via the eCollege testing system.

Comprehensive Examination:  A comprehensive examination must be taken in person at one of the Park University sites around the country or at an alternative location approved by the University and the instructor where Park University sites are not available. All Park sites are prepared to proctor exams and are the preferred choice. Unless you are more then one hour from a Park site, you are expected to use one of them to take your exam. (Exceptions will be carefully screened as per the directions I receive from the University. If your situation is exceptional, contact me before you submit your proctor form with details of your situation.)· For these proctored examinations, photo identification is required. · A proctor information form will be provided by Park at an address to be provided later. · If you are unable to make arrangements with someone who meets these criteria, contact the instructor for acceptable alternatives. · A proctor with email is much desired over one without email. Faxing and/or mailing are both relatively expensive, time consuming, and more prone to problems then email.

You are NOT allowed to use your textbook, your laptop computer, or a cell phone during the comprehensive final examination.  The examination is NOT open book or open notes.

Instructor Response:  The Instructor will usually respond to your questions concerning the course within 48 hours of receipt.  Response is generally faster during the week and slower on the weekend.Students are responsible for clicking on the link below and thoroughly reading each Online course policy.  If you have questions about any of these policies, please contact your instructor for clarification.

Grading:

Homework Assignments Mid Term Exam Proctored Comprehensive Final Examination The comprehensive exam is closed book and closed notes. Instructor evaluation/class participation which is made up of the following factors: Posting your introduction to the conference during the first week of the course. Weekly groupwork activities Weekly discussion activities   Having a completed, correct proctor form received and approved by the end of week 4. There will be a link to the proctor form provided in week 1. Attending class each week - meaning being active in the weekly projects. Other course related activities. 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 grade             280 points                                                      

Mid Term Exam                               20% of grade             200 points                                                      

Comprehensive Examination          30% of grade             300 points

Weekly Groupwork                           8% of grade               80 points

Weekly Disicussions                         8% of grade               80 points

Weekly Quiz                                     6% of grade               60 points

TOTAL                                                   100%                  1000 points

Note that point deductions will be made for nonparticipation and absences. The Comprehensive (Proctoered) Final Exam for online courses will be closed book and closed notes and must be passed with a grade of at least 60% in order to pass the course regardless of the student's overall average in the course.

Late Submission of Course Materials:
Submission of Late Work:   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.

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 2006-2007 Undergraduate Catalog Page 87-89

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 87
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.  Definitions Academic dishonesty includes committing or the attempt to commit cheating, plagiarism, falsifying academic records, and other acts intentionally designed to provide unfair advantage to the students.· Cheating includes, but is not limited to, intentionally giving or receiving unauthorized aid or notes on examinations, papers, laboratory reports, exercises, projects, or class assignments which are intended to be individually completed.  Cheating also includes the unauthorized copying of tests or any other deceit or fraud related to the student's academic conduct.· Plagiarism involves the use of quotation 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 assignments (any portion of such) prepared by another person, or incorrect paraphrasing.· Falsifying academic records includes, but is not limited to, altering grades or other academic records.· Other acts that constitute academic dishonesty include: o Stealing, manipulating, or interfering with an academic work of another student or faculty member. o Collusion with other students on work to be completed by one student. o Lying to or deceiving a faculty member.ProcedureIn the event of alleged academic dishonesty, an Academic Dishonesty Incident Report will be submitted to an Online Academic Director who will then investigate the charge.  Students who engage in academic dishonesty are subject to a range of disciplinary actions, from a failing grade on the assignment or activity in question to expulsion from Park University.  Park University's academic honesty policy and related procedures can be found in full in the 2004-2005 Park University Undergraduate and Graduate Catalogs.

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 "W".
  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 2006-2007 Undergraduate Catalog Page 89-90
Professors are required to keep attendance records and report absences throughout the term. Excused absences can be granted by the instructor for medical reasons, school sponsored activities, and employment-related demands including temporary duty. The student is responsible for completing all missed work.  Any student failing to attend class for two consecutive weeks, without an approved excuse from their instructor, will be administratively withdrawn and notified via email that you have been withdrawn and a grade of "WH" will be recorded. 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.  PLEASE NOTE:  Recording of attendance is not equivalent to participation.  Participation grades will be assigned by each individual instructor according to the criteria in the Grading Policy section of the syllabus. For more details on Park University on page 100 of the Park University Undergraduate Catalog

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: http://www.park.edu/disability .



Rubric

CompetencyExceeds Expectation (3)Meets Expectation (2)Does Not Meet Expectation (1)No Evidence (0)
Evaluation (a)                                                                                                                                                                                                                                             
Outcomes
1, 2                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
All causes or processes of economic phenomena are perfectly identified and stated. (12 points out of 12 points) Most causes or processes of economic phenomena are correctly identified and stated. (11 to 4 points out of 12 points) Most causes or processes of economic phenomena are not correctly identified and stated. (3 to 1 points out of 12 points) No causes or processes of economic phenomena are stated. (0 points out of 12 points) 
Synthesis (b)                                                                                                                                                                                                                                              
Outcomes
1, 2                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
The graph is drawn perfectly and most relevant axes and curves are identified correctly.
(22 points out of 22 points)
 
The graph is drawn correctly and most relevant axes and curves are identified correctly. (21 to 7 points out of 22 points) The graph is not drawn correctly and most relevant axes and curves are not identified correctly. (6 to 1 points out of 22 points) The graph is not drawn. (0 points out of 22 points) 
Analysis (c)                                                                                                                                                                                                                                               
Outcomes
1, 2, 3, 4                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
All shifts in curves are identified correctly.  (12 points out of 12 points) Most shifts in curves are identified correctly.  (11 to 4 points out of 12 points) Most shifts in curves are not identified correctly.   (3 to 1 points out of 12 points) Shifts in curves are not identified. .  (0 points out of 12 points) 
Application (d)                                                                                                                                                                                                                                            
Outcomes
3, 4                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
All economic policies and their impacts are correctly described.   (19 points out of 19 points) Most economic policies and their impacts are correctly described. (18 to 6 points out of 19 points) Most economic policies and their impacts are not correctly described.  (5 to 1 points out of 19 points) No economic policies or impacts of such policies are described.
(0 points out of 19 points)
 
Content of Communication (e)                                                                                                                                                                                                                               
Outcomes
1, 2, 3, 4                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
All definitions of curves or items identified on graphs are stated perfectly.  (23 points out of 23 points) Most definitions of curves or items identified on graphs are stated correctly. (22 to 8 points out of 23 points) Most definitions of curves or items identified on graphs are not stated correctly. (7 to 1 points out of 23 points) No definitions of curves or items on graphs are stated.
(0 points out of 23 points)
 
Technical Skill in Communicating (f)                                                                                                                                                                                                                       
Outcomes
1, 2, 3, 4                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
All definitions of concepts are stated correctly.
(12 points out of 12 points)
 
Most definitions of concepts are stated correctly.
(11 to 4 points out of 12 points)
 
Most definitions of concepts are not stated correctly.
(3 to 1 points out of 12 points)
 
No definitions of concepts are stated.
(0 points out of 12 points)
 
First Disciplinary Competency                                                                                                                                                                                                                              
Outcomes
1                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
Graphical analysis is used to identify perfectly equilibrium price in an individual market. (11 points out of 11 points) Graphical analysis is used to identify equilibrium price in an individual market. (10 to 4 points out of 11 points) Graphical analysis is used to identify equilibrium price in an individual market. (3 to 1 points out of 11 points) Graphical analysis is not used to identify equilibrium price in an individual market. (0 points out of 11 points) 
Second Disciplinary Competency                                                                                                                                                                                                                             
Outcomes
2                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
Graphical analysis is used to identify perfectly a combination of goods on a Production Possibilities Curve. (11 points out of 11 points) Graphical analysis is used to identify a combination of goods on a Production Possibilities Curve. (10 to 4 points out of 11 points) Graphical analysis is used to identify a combination of goods on a Production Possibilities Curve. (3 to 1 points out of 11 points) Graphical analysis is not used to identify a combination of goods on a Production Possibilities Curve. (0 points out of 11 points) 

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Last Updated:8/2/2006 8:48:58 PM