EC 142 Principles of Economics II (Microeconomics)
S2R 2007 SC
Thompson, John R.
M.S. in Policy Analysis with work in Money and BankingB.A. in Economics with concentration in FinanceRequisite Real Estate Appraisal Courses for Commercial Real Estate
Scott Air Force Base Extension Center
Available as needed by telephone or e-mail.
March 12, 2007 - May 5th, 2007
Tuesday and Thursday evenings
5:00 - 7:30 PM
Textbook: Economics: Principles, Problems and Policies. McConnell, Campbell R. and Brue, Stanley L., 17th Edition, 2006, McGraw-Hill Irwin Publishing. ISNB 0-07-281935-9. NOTE: The required textbook will change beginnning in Summer, 2007; authors of the text are known as Case/Fair.
Textbooks can be purchased through the MBS bookstore
Textbooks can be purchased through the Parkville Bookstore
Additional Resources: Publications which may be utilized throughout the course include the following: The Wall Street Journal, The Economist and the Belleville News-Democrat. Relevant websites delineated below:
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 email@example.com or call 800-927-3024Resources for Current Students - A great place to look for all kinds of information http://www.park.edu/Current/.
Educational Philosophy: The facilitator's educational philosophy is one of interactiveness based on lectures, readings, quizzes, dialogues, examinations, internet, videos, web sites and writings. The facilitator will engage each learner in what is referred to as disputatious learning to encourage the lively exploration of ideas, issues and contradictions.
Learning Outcomes: Core Learning Outcomes
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 RubricClass Assessment:
Final grade will be determined and calculated based on the following tasks and evaluation methods:
1. Two (2) closed-book examinations; including the final exam, which meets the Core Assessment requirement;
2. One (1) open-book knowledge assessment;
4. Homework Assignments.
90% to 100% 450 - 500 Points A
80% to 89% 400 - 449 Points B
70% to 79% 350 - 399 Points C
60% to 69% 300 - 349 Points D
Below 60% Fewer than 300 F
Grading: This course will have a total of 500 possible points. Total points will be allocated along the following basis: exams and assessments (400 points), attendance and participation (50 points), and homework assignments (50 points). Specifically, the two (2) closed-book exams will be worth a total of 250 points (125 points per exam), the open-book assessment will be worth 150 points, attendance/participation worth 50 points and homework assignments totaling 50 points. The two exams represent 50% of the total points, the open-book assessment represents 30%, attendance/particpation represents 10%, and homework assignments represent 10% of the point total. NOTE: The core assessment is not an open book or open note exam.
All final exams will be comprehensive and will be closed book and closed notes. If calculators are allowed, they will not be multifunctional electronic devices that include features such as: phones, cameras, instant messaging, pagers, and so forth. Electronic Computers will not be allowed on final exams unless an exception is made by the Associate Dean.
Classroom Rules of Conduct: Students are expected to attend all scheduled classes unless previously excused by the instructor. Punctuality and promptness are necessary to assure an orderly start and finish to every session. Students are expected to conduct themselves in a positive and constructive manner during class. Given the accelerated nature of the course, it is imperative that students have completed all reading and homework assignments prior to class, and be prepared for the scheduled activities and content discussion. Homework assignments are to be completed as of the due date.
Course Topic/Dates/Assignments: March 13th and 15th: Introduction, expectations and overview of course syllabus. Delineate the foundational concepts and philosophical premises a/k/a "setting the table". The nature and method of economic inquiry, the economic "problem". Fundamental concepts including scarcity, constrained choice and opportunity cost. Discuss the fundamental characteristics of the market system. March 20th and 22nd: Supply and demand analysis, the operations of markets, and the role of price in resource allocation. The Production Possibility Curve ("Frontier") Model. Supply/Demand applications. Comparison of laisse-faire and command economic systems. March 27th and 29th: Discussion of price, income and cross elasticity concepts. Review of all materials through the first 5 assigned chapters prior to first exam/assessment. April 3rd and 5th: Consumer behavior and utility maximization, diminishing marginal utility and other consumer behavior concepts. The roles of income and substitution effects on consumer behavior. April 10th and 123th: Business production costs. An exploration of the four (4) basis market structures, and the impact of such structure on firm behavior, and ultimately on total industry output, product prices and profitability. April 17th and 19th: Continued exploration of how business firms behavior in imperfectly competitive industries in connection with monopolies, oligopolies and monopolistically competitive markets. April 24th and 26th: An exploration of the resource ("input") markets for land, labor, capital and entrepreneurshhip. How are the returns on these resources determined? May 1st and 3rd: Complete analysis and discussion of resource markets, final review and completion of the final assessment.
March 13th and 15th,
Chapters 1 and 2,
March 20th and March 22nd,
March 27th and 29th,
First Exam/Assessment: Ch. 1-4, and 20,
April 3rd and 5th,
April 10th and 12th,
Chapters 20 - 21
Skills Assessment Handout
April 17th and 19th,
Chs. 22 and 23
April 26th and 28th,
Chapters 24 and 25
May 1st and 3rd,
Final Exam:Ch. 23-27
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 87-89In addition, academic dishonesty refers, but is not limited, to the following: the act of plagiarism (see definition below) in connection with any work required to be performed only by the individual student, and any behavior or act in connection with the taking of an examination deemed by the instructor and Park University as cheating. If it is reported and conclusively determined that academic dishonesty has occured, the subject student will be given a grade of "F" for the course. This policy will be followed in all cases and under all circumstances.
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 87NOTE: An attendance report of "P" (present will be recorded for students who have logged into 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.
Attendance Policy:Instructors are required to maintain attendance records and to report absences via the online attendance reporting system.
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:The core assessment is not an open book or open note exam.
Last Updated:2/20/2007 12:22:03 PM