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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.
CourseEC 142 Principles of Economics II (Micro) BU
SemesterS1H2005
FacultyKozak, Virginia L.
TitleSenior Adjunct Instructor
Degrees/CertificatesBA cum laude
MS
MBA
Daytime Phone843-521-4819
Other Phone843-986-6225
E-Mailgkozak@park.edu
ginniek@rocketmail.com
Web Pagehttp://lowcountryrevtrail.org
Semester Dates10 Jan 05 to 05 Mar 05
Class Days--T-R--
Class Time7:35 - 10:00 PM
Credit Hours3

Textbook:
Case and Fair, Principles of Economics, Prentice Hall, 6th Edition, 2002-2003

Textbooks can be purchased though the MBS bookstore

Additional Resources:
Wall Street Jurnal, The Economist, Businessweek

http://www.cnn.money.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 provide the students with both the motivation and the information to include economics as an integral part of their professional and personal decision-making.  The approach taken, as a result, is very "real world," using the most recent examples available and applying them realistically.

Learning Outcomes:
• Using the production possibilities model, discuss the tradeoffs faced by an economy and how this relates to the concept of opportunity cost.

• Using demand and supply analysis, identify and explain the process by which the equilibrium price and quantity of a good are attained.

• Show graphically and explain how price elasticity of demand varies along a given linear demand curve; compare this to the relationship of price elasticity of demand and the slope of a demand curve.

• Show graphically the marginal cost, average total cost, and average variable cost curves; explain the shape of each curve.

• Define the long-run average total cost curve and explain economies of scale, diseconomies of scale, and constant returns to scale.

• 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.

•       Explain government and market failure and public choice theory and taxation

•       Compare and contrast inequality and poverty; labor market supply and demand and wage and salary implications

Course Assessment:
A combination of tests and a project will be utilized.

Grading:
     Test 1                          20%
    Test 2                          25%
    Research Project                25%
    Test 3                          30%

The following will be used to assign letter grades:
    90-100                          A
    80-89                           B
    70-79                           C
    60-69                           D
    Below 60                        F
   

Late Submission of Course Materials:
If an assignment or project is submitted late, unless there are extenuating circumstances such as illness or military deployment and prior arrangments have been made, each day that the assignment or project is late will result in the lowering of the original grade.

Classroom Rules of Conduct:
Mature and responsible conduct is expected of all students.

 TopicAssignments
Meeting - 1
11 Jan 05
Course Objectives and IntroductionRead pp. 103-111
Meeting - 2
13 Jan 05
Household Behavior and Consumer ChoicePp. 112-131
Meeting - 3
18 Jan 05
The Production ProcessPp. 133-147
Meeting - 4
20 Jan 05
Short-Run Costs & Output DecisionsPp. 155-173
Meeting - 5
25 Jan 05
Long-Run Costs & Output DecisionsPp. 177-196
Meeting - 6
27 Jan 05
TESTAll material covered to date
Meeting - 7
01 Feb 05
Labor and Land MarketsPp. 203-222
Meeting - 8
03 Feb 05
Capital Markets/Investment DecisionPp. 223-242
Meeting - 9
08 Feb 05
Perfect Competition and EfficiencyPp. 243-261
Meeting - 10
10 Feb 05
Monopoly and   Anti-Trust PoliciesPp. 263-289
Meeting - 11
15 Feb 05
Monopolistic Competition and OligopolyPp.291-315
Meeting - 12
17 Feb 05
TESTMaterial covered in classes 7 - 11
Meeting - 13
22 Feb 05
Public Goods and Social ChoicePp. 317-343
Meeting - 14
24 Feb 05
Income Distribution and PovertyPp. 349-374
Meeting - 15
01 Mar 05
Developing and Transitional EconomiesPp. 719-743
Meeting - 16
03 Mar 05
FINAL TESTAll course material

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 2004-2005 Undergraduate Catalog
Page 101
Academic honesty is required of all students.

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. <a href="http://www.park.edu/catalog">
Park University 2004-2005 Undergraduate Catalog</a> Page 101
It is completely unacceptable. Depending upon the degree and extent it may result in a failing grade for the course.

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 2004-2005 Undergraduate Catalog Page 100

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
 
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Copyright:
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