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EC 142 Principles of Microeconomics
Rice, Coy P.


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

F2BB 2007 HL

Faculty

Rice, Coy P.

Title

Adjunct Faculty

Degrees/Certificates

MA - Economics and Education

E-Mail

coy.rice@pirate.park.edu

Class Days

-M-W---

Class Time

5:00 - 8:00 PM

Prerequisites

None

Credit Hours

3


Textbook:

Required Text:  

The Textbook for EC142 is:

Principles of Microeconomics, 8/E
View Larger Cover Image
Karl E. Case, Wellesley College
Ray C. Fair, Yale University
Publisher: Prentice Hall
Copyright: 2007
Format: Paper; 528 pp

ISBN-10:
0131994859
ISBN-13:
9780131994850


Or, you can choose to buy the text that combines both EC141 and EC142 (save about $100 if taking both courses):

Principles of Economics, 8/E
View Larger Cover Image
Karl E. Case, Wellesley College
Ray C. Fair, Yale University
Publisher: Prentice Hall
Copyright: 2007
Format: Cloth; 896 pp

ISBN-10:
0132289148
ISBN-13:
9780132289146

Also Required:

VIDEO PACKAGE: We are using the videos from another textbook. You do not need this textbook, only the videos: 
 
Sloman Video package

Paul Solman Videos DVD

(to accompany McConnell-Brue Economics 17e).  McGraw Hill - Irwin Publisher.

ISBN 978-0-07-329140-6

Textbooks can be purchased through the MBS bookstore

Textbooks can be purchased through the Parkville Bookstore

Additional Resources:

Wall Street Journal and the Economist:

The WSJ and the Economist are both excellent references 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.
 

 

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:

Students maximize their potential through education by understanding concepts in a way that it is relevant to them in their life during the time that the education is taking place. People of all ages, driven by their desires, achieve personal goals for the future with the implementation of adequate materials, feedback from teachers and peers, and personal evaluations. Gratification emerges when students know that they are building upon stepping stones within their academic road to success.

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. Determine the value of the costs of the firm and graph them. Graph the short-run profit or loss situation of the competitive firm and show how it affects the industry supply and demand.
  3. Use basic indifference curve and budget line analysis to determine a demand curve.
  4. Determine own-price elasticity of demand given price and quantity-demanded data.


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 30 percent of the student’s final grade and will test students’ mastery of core learning outcomes through Multiple Choice, Tools and Methods of Economics questions, Quantitative Critical Thinking Problems, and Graphical Problems in the Communications section. For each core learning outcome, the student should be prepared to draw the relevant graph; define basic concepts or policies; determine costs, revenue and profit levels; and state final impacts on the individual, firm, and/or industry.

Link to Class Rubric

Class Assessment:

A variety of methods will be used to assess the learning in this course. Students will be assessed on their class participation, performance on quizzes, writing assignments, and examinations. There will also be opportunities to work in groups, and to be assessed based on individual and group performance.

1. Tests – Students are required to take a mid-term and final examination.

2. Quizzes – Students are required to take quizzes as assigned.

3. Presentation – Students are required to give a short presentation that explains and gives and example of economic concepts. A paper that reflects the presentation, handed in the same day, should be roughly one to two pages long. The presentation should roughly be from 10 – 15 minutes long.

4. Participation – Students are required to enter various discussions throughout the course.

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 final course grade will be determined using the following measurements:

Mid-Term Exam                   20%

Final Exam                            30%

Quizzes                                   20%

Presentation (with paper)     20%

Participation                          10%

TOTAL                                100%

Points:

Mid-Term Exam                   200

Final Exam                            300

Quizzes                                   200

Presentation (with paper)     200

Participation                          100

Total Points                          1000

The Comprehensive Final Examination is CLOSED book and CLOSED notes and is an IN-CLASS exam, not take home.  The Proctored Final Examination must be taken at a Park University Campus Center, if the student is within a one-hour drive of that campus. 

The course grade for students will be based on the overall average of homework and tests taken during the course in accordance with the weighting of the various requirements as stated in the syllabus.

All final exams in all School of Business and Management courses will be comprehensive and will be closed book and closed notes. They will constitute 30% of the total course grade and will not be a take-home exam. They will be completed during the test week in the period designated by the registrar or by the Proctor in the case online courses. 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 Dean of the School of Business and Management.

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.

Classroom Rules of Conduct:

Any classroom conduct that disrupts the learning environment in the opinion of the instructor, will not be tolerated.  

Also remember that computers make writing and revising much easier and more productive.  Students must recognize though that technology can also cause problems.  Printers run out of ink and hard drive crash.  Students must be responsible for planning ahead and meeting deadlines in spite of technology.  Be sure to save copies of your work to disk, hard drive, and print out paper copies for backup purposes.

Course Topic/Dates/Assignments:

Welcome to Microeconomics (EC 142)!

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 micro economy with an emphasis on the study of markets and their outcomes.

Each week we'll focus on one or two chapters in our text, Microeconomics by Case and Fair, Eighth Edition. The following is a general guide to our course but you will want to follow the specific instructions in each weekly module online.

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 2007-2008 Undergraduate Catalog Page 85-86

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 2007-2008 Undergraduate Catalog Page 85

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.
  3. Work missed through unexcused absences must also be made up within the semester/term of enrollment, but unexcused absences may carry further penalties.
  4. 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 "F".
  5. A "Contract for Incomplete" will not be issued to a student who has unexcused or excessive absences recorded for a course.
  6. 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.
  7. 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 2007-2008 Undergraduate Catalog Page 87-88

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 .


Attachments:
Syllabus - Coy Rice - ECON 142 - Case and Fair.doc

Rubric

CompetencyExceeds Expectation (3)Meets Expectation (2)Does Not Meet Expectation (1)No Evidence (0)
Critical Thinking                                                                                                                                                                                                                                          
Outcomes
Short answer questions with a Maximum value of 88 Points                                                                                                                                                                                                                                                                                                                                                                                                                                                             
Nearly all causes or processes of economic phenomena are perfectly identified and stated. (79 points or more of 88 points) Most causes or processes of economic phenomena are correctly identified and stated. (61 to78 points of  88 points) Most causes or processes of economic phenomena are not correctly identified and stated. (44 to 62 points  of 88 points) No causes or processes of economic phenomena are stated clearly. (43 to 0 points of  88 points) 
Effective Communication                                                                                                                                                                                                                                    
Outcomes
Graphical Problems and completion of Graphs with a maximum value of 140 points.                                                                                                                                                                                                                                                                                                                                                                                                                                      
All definitions of curves or items identified on graphs are stated nearly perfectly.  (126  points or more of 140 points) Most definitions of curves or items identified on graphs are stated correctly. (98 to 125 points of 140 points) Most definitions of curves or items identified on graphs are not stated correctly. (70 to 97 points of 140 points) No definitions of curves or items on graphs are stated clearly.

(0 to 69 points of 140 points)

 
Tools and Methods of Economics                                                                                                                                                                                                                             
Outcomes
This examines tools and methods of economic analysis using short essay questions with a maximum value of 72 points.                                                                                                                                                                                                                                                                                                                                                                                                  
All definitions of are stated nearly perfectly.  (65 points or more of 72 points) Most definitions are stated correctly. (98 to 125 points of 72 points) Most definitions are not stated correctly. (70 to 97 points of 72 points) No definitions are stated clearly.

(0 to 69 points of 72 points)

 

Copyright:

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

Last Updated:9/23/2007 6:39:45 PM