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EC 142 Principles of Microeconomics
Lewis, Leslie H.


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 Microeconomics

Semester

F2A 2006 BE

Faculty

Lewis, Leslie H.

Title

Assistant Professor

Degrees/Certificates

MBA Management, University of North Texas
BBA Economics and Management, Baylor University
BS Social Psychology, Park University, Austin Center

Office Location

Rm 108 Austin Campus

Office Hours

1-5 PM Monday and Wednesday

Daytime Phone

512-385-7275

Other Phone

512-836-5421

E-Mail

leslie.lewis@park.edu

theaustinprof@yahoo.com

Semester Dates

Oct. 23 - Dec. 17, 2006

Class Days

-M-W---

Class Time

8:00 - 10:40 PM

Prerequisites

none

Credit Hours

3


Textbook:

McConnell, Campbell R. and Stanley R. Brue. Microeconomics., 16th edition. New York: McGraw-Hill, 2005. ISBN - ISBN 0-07-281935-9 (covers Micro and Macro) or ISBN 0-07-287561-5 (Micro only)

Textbooks can be purchased through the Parkville Bookstore

Additional Resources:

A copy of a macroeconomics and a financial management text would be helpful references.  Also, a copy of the MLA style guide.

 

 Harvard Business Review; The Economist, Wall Street Journal, Forbes, Fortune, Business Week; current newspapers, Web articles, professional publications, etc

 

Concordia University Library. Park students can use the resources of Concordia University Library located at I-35 and 32nd.  You will need your Park ID.

 

Austin Campus Resource Room . The resource room is located in room 210 in the Austin Center.  It is opened 8 am to 10 pm on Monday through Thursday.  The room has a wide selection of current business and academic journals, magazines and a limited number of subject related videos, texts, and books.  The room also has three PCs with an Internet connection and a printer.




 

 

 

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/.


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:

      I will serve as your facilitator and will work with you to take responsibility for your learning processes and work. You will learn how to perform research for your case studies and discussion topics using the World Wide Web and your text. I develop my classes with the assumption that We are all Life Time Learners and that adults learn better if they are part of the learning process itself.  In order to succeed in this course, the student must first and foremost be in class for all meetings.  The student must conscientiously prepare for class by reading the text prior to class.  Taking notes on the reading will also be to the student's benefit.  The student should be prepared to answer questions and solve problems in class as well as cases.  The student must also satisfactorily complete all examinations and homework in the class.  All methods of instruction are designed to transfer new material by clarifying and emphasizing subject areas presented in the text.  The lecture relies on the fact that you have read the assigned material and have completed any assignment relating to it.  We can then take this learning and find situation to apply the new knowledge.

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's Core 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 (Outcomes 1, 2, 3, and 4 listed on this syllabus) through definitions, short essay, and graphing questions.  For each core outcome, the student should be prepared to draw the relevant graph by hand, define basic concepts or policies, identify relevant shifts in the curves, and state final impacts on relevant variables.


 


The core assessment is a CLOSED BOOK, CLOSED NOTES exam that must be administered and proctored in the classroom and may not be given as a take-home exam.  Students should not have access to the exam or its questions before it is administered.  The duration of the exam can be no longer than two hours.  No calculators, computers, or materials other than a writing instrument may be used for the exam; this applies to all students, regardless of whether the exam is for on-line or face-to-face students.  Completion of the exam is strictly individual; students may not work in groups to complete the exam.

Link to Class Rubric

Class Assessment:


1.       Each student is required to read all assigned material before class and be prepared to participate in class discussions and activities.  Class Participation Grading will be based on class participation, two exams, homework, pop test, and research paper. The exams will be a made up of multiple choice and essay questions.  The research will be based on logic, depth of analysis, ability to relate the subject to the text and your other sources.

2.      CLASS PARTICIPATION:
Discussion policy: Students will receive 8 points or ½ point per class for participation in class discussions. Only timely and relevant discussion will be evaluated positively.  A lack of participation in class and case discussions will lead the instructor to conclude the student is not prepared to participate and could have a negative effect on the student's participation grade.  

3.        RESEARCH PAPER/PRESENTATION: Students are required to turn in a research report of not less that 8 pages (double spaced, 12 font) in a research paper format on a current economic trend or problem in the U.S.  The report publication guideline used is MLA, Park's standard.  An oral and digital presentation (PPT) with handouts to the class, not to exceed 15 minutes, of the report's high points and solution is also required for each student.   You need a minimum of two references from printed material other that your text and two references from the Internet.

 

$ Final Exam.  The final exam is the core assessment and will be as described in the core assessment section.

Grading:

The final course grade will be determined using the following measurements:

Mid-Term Exam                                30%
Final Examination:                            30%
Research Paper:                               15%
Topic Presentation                              5%

Homework & WEEKLY POP TEST 12%
Class Participation:                              8%
                                                           100%

Final grade will be determined using the following criteria:
A --90.0 - 100.0 cumulative average (c.a).
B --80.0 - 89.9 c.a.
C-- 70.0- 79.9c.a.
D --60.0 - 69.9 c.a.
F-- 0.0 - 59.9 c.a.


Late Submission of Course Materials:

Exam Make Up:  If students miss an exam, they will have 1 week to take a makeup exam after returning to class.  The second (final) exam, however, must be made up within 24 hours of the assigned date or an F will be given for the exam.


If students miss the date turning in the research paper or homework, the grade will be reduced one letter grade per day.

Classroom Rules of Conduct:

The degree of concentration, material covered and specific methodology to be utilized in each area will be determined by the amount of classroom time available. Methods used to achieve these learning objectives will include lecture, reports, self-study, and most importantly, class discussion and student participation.  All methods of teaching are designed to transfer new material by clarifying and emphasizing subject areas presented in the text.  The lecture relies on the fact that you have read the assigned material and have completed any assignment relating to it.  The student is grades in each class for participation (see assessment).

Student Communications:  Remember that all cell phones and alpha and digital pagers must be turned off.  Use your devices outside the building. 


Also, the official method of communications between the university and students at Park is Pirate Email.  Each of you has an account.  If you have not activated your account, go to www.park.edu/piratemail.  Please check your mail every day.

Course Topic/Dates/Assignments:
Read chapters 1-3 before the first class. A detailed assignment list will be furnished at the first meeting.

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 2006-2007 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 "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.

Park University 2006-2007 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: http://www.park.edu/disability .

Additional Information:

Chapter relationship between the Micro only text. and the Macro/Micro text  


 


Chapter 1 = Chapter 1             Chpt 2 = Chpt 2          Chpt 3 = Chpt 3          Chpt 4 = Chpt 4


 


Chapter 5 = Chapter 5            Chpt 7 = Chpt 20        Chpt 8 = Chpt 21        Chpt 9 = Chpt 22


 


Chapter 10 = Chapter 23        Chpt 11 = Chpt 24      Chpt 12 = Chpt 25      Chpt 13 = Chpt 26


 


Chapter 14 = Chapter 27        Chpt 15 =  Chpt 28     Chpt 16 = Chpt 29      Chpt 17 = Chpt 30


 


Chapter 18 = Chapter 31



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:9/26/2006 1:41:49 PM