EC142 Principles of Microeconomics

for S2Y 2010

Printer Friendly

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.


EC 142 Principles of Microeconomics


S2Y 2010 MN


Green, Johnnie D.


Adjunct Faculty


MBA Emphasis in Managment
MA in Finance
MA in International Business

Office Location

Millington Campus Office NSA

Office Hours

By Appointment:  NSA Before and Sfter Class

Daytime Phone

(501) 324-5871 ext. 233

Other Phone

Cell Phone (501) 413-7211


Semester Dates

March 15, 2010 thru May 9, 2010

Class Time

Friday: 5:00 p.m. to 9:00 p.m. and  Saturday 8:30 1:30 PM



Credit Hours



Required Text:  

The Textbook for EC142 is:

Principles of Microeconomics, 9/E, with MyEconLab access
text image
Karl E Case
Ray C Fair
Sharon Oster

ISBN:  0558330517 

Publisher: Prentice Hall
Copywright: 2009
Format: Paper; 496pp
Published: 09/02/2008



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

Principles of Economics, 9/E, with MyEconLab access
text image
Karl E Case
Ray C Fair
Sharon Oster

ISBN:  0558330495

Publisher: Prentice Hall
Copyright: 2009
Format: Cloth; 816 pp


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:

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.
The WSJ provides exceptionally low priced, special discounted rates for students (currently 15 weeks for $29.95) that include hard copy subscriptions with the online WSJ are available to you.

Click Here to subscribe online!  Following this link and selecting Joseph Kubec as your instructor will let the WSJ folks know you are enrolled as a student in this 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 or call 800-927-3024
Resources for Current Students - A great place to look for all kinds of information

Course Description:
EC142 Principles of Microeconomics: A study of the market mechanism and the organization of production and distribution activities in society. A majorfocus 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 one of interactiveness based on lectures, readings, quizzes, dialogues, examinations, Internet, videos, web sites and writings.  

The instructor challenges and engages each learner in what is referred to as disputatious learning to encourage the lively exploration of ideas, issues, and contradictions. He believes that the application of theoretical concepts is equally important as the visualization of these concepts.  

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.

  Instructor 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:

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

  • Homework Assignments
  • Mid Term Exam
  • Proctored Comprehensive Final Examination
  • 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 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:

Class Attendance & Participation:   (5pts & 8 )
Weekly Chapter Quiz (20 pts @ 7)
Current Event Article: (8 &@ 5 pts)
40 pts
  140 pts

 40 pts
Mid Term Exam 10% 100 pts
Final Exam 30% 100 pts
Investment Game (20 pts per week @ 8 wks) 10% 160 pts

Research Paper: Weekly Quiz

Final Project: (PPT Presentation of Research Paper)  



100 pts


     Total 100%


1,000 pts

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 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.

Late Submission of Course Materials:

Late Submission of Assignments not Accepted.  All assignments are due on teh assigned due date.
Weekly work must be submitted not later than Sunday midnight of each week.  

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), 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 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, Ninth Edition. The following is a general guide to our course but you will want to follow the specific instructions in each weekly module online.

Park University

EC 142 Principles of Microeconomics Spring 2, 2010

Weekly Assignments. 


· Week

Reading Assignment



Week 1

Chapters 1, 1 appendix, 2

Course Introduction

Introduction to Investment Game.

Research and Final Project Discussion

Chapter 1 Discussion

Current event article


Week 2

Chapters 3, 4

Pop Quiz, #1

Current Event Article

Investment Game Week 1 Report

Chapters 3 & 4 Discussion


Week 3

Chapters 5,6, 6 appendix

Pop Quiz, #2

Current Event Article

Investment Game Week 2 Report

Chapters 5 & 6 Discussion


Week 4

Chapters 7, 8

Pop Quiz, #3

Current Event Article

Investment Game Week 3 Report

Chapters 7 & 8 Discussion


Midterm Examination

Week 5

Chapters 9,10

Pop Quiz, #4

Current Event Article

Investment Game Week 4 Report

Chapters 9 &10 Discussion


Week 6

Chapters 12,13

Pop Quiz, #5

Current Event Article

Investment Game Week 5 Report

Chapters 12 & 13 Discussion


Week 7

Chapters 14,15

Final Exam:

Investment Game Week 6 CASHOUT

Research Paper Due

Final Presentation PPT Slides

**Final Examination

**Final Project

**Research Paper Submission

**Cashout Investment Game

Park University

EC 142 Principles of Microeconomics Fall 2, 2009

Weekly Assignments. 

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 2009-2010 Undergraduate Catalog Page 92

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 2009-2010 Undergraduate Catalog Page 92

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 "F".
  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 2009-2010 Undergraduate Catalog Page 95

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: .

Additional Information:

**Late Assignments Not Accepted**                                             

 Other Recommended Reading / Resources:

 A course Matrix is provided in the syllabus for the research paper and PowerPoint presentation/ final project.   See course syllabus for additional supplement and resources. 

Research Paper with PowerPoint Presentation Requirement:

This course will require a major Research Paper with a PowerPoint Presentation.  All research topics must relate to Managerial Accounting.  All topics must be approved by the instructor no later than Week 2.  All research papers must include a PowerPoint Presentations which is to be submitted Week 8 the Final Week. The Research Paper with PowerPoint Presentation are worth 200 points. 

The Research Paper and PowerPoint Presentation must be submitted in Week 8 Assignment Icon no later than the assigned due date.  Students are also required to post their PowerPoint Presentation in the Discussion Board Forum for other students to review and make comments.   

 Research Paper Requirement:   

 All Research Papers must be typed According to APA Requirement. Double Space. Cite all sources according to APA Requirement.  Student must write a 10 page research paper relating to your Business Industry.  The research paper should address elements of the firms Managerial Accounting Practices.  Page 1 is the Abstract. The Certified Cover Page, Table of Content and Reference Page DO NOT COUNT as part of the 10 page paper. (See Research Paper Checklist) The research paper must include the following:

1. Certified Cover Page (See Attachment)

2. Table of Content

3. Abstract

4. Literature Review

5. Introduction

6. Body

7. Conclusion

8. Reference Page 



Park University

Certified Cover Page

For: Johnnie Green, Instructor

Course Title: __________________

 Research Paper Topic:_________________________ 

Instructor: Johnnie D. Green 

Assignment for Course:

Submitted to:   Johnnie D. Green, Instructor

Submitted by:                        

Location of Course:

Date of Course Meeting:

Date of Submission:

Title of Assignment:

CERTIFICATION OF AUTHORSHIP: I certify that I am the author of this paper and that any assistance I received in its preparation is fully acknowledged and disclosed in the paper. I have also cited any sources from which I used data, ideas or words, either quoted directly or paraphrased. I also certify that this paper was prepared by me specifically for this course.

Student’s Signature: 



Instructor’s grade on assignment:


Research Paper Requirements For:

 Professor Johnnie D. Green

1. General APA format:

            ___ Stapled, not bound

            ___ Certified cover sheet

___ Title: Describe the contents

___ Table of Contents with page numbers

___ Abstract page by itself 

            ___ Page numbers: use them

            ___ Introduction

            ___ Headings and Sub-Headings

            ___ Body

            ___ Conclusion

            ___ Tell ‘em, tell ‘em, tell ‘em: always introduce & summarize

            ___ Objectivity: No first person personal pronouns!

__ References: ID sources of ideas and data


2. APA Guidelines

            ___ Citation format: (last name, year)

            ___ Direct quotes:    page number required

                                                block indent more than 40 words, no quotation marks

___ Headings and sub-headings: use them to show the reader where they are

___ Reference list format

___ Reference list must agree with citations in body of text

___ Underline or italics: Require for periodicals and books and only for them

___ No Italics or Bold type in body of text

            ___ Numbers: one through ten, 11 and higher, but consistent

            ___ “and” vs. &

3. *** Literature Review (When Required by Instructor)

            ___ Must be relevant to the research question

            ___ 70% of references < 5 years old

            ___ Textbooks: not suitable sources

            ___ Location of citations in the text (close to the idea)

            ___ Every paragraph needs at least one reference

4. Basics

            ___ Spelling

            ___ Punctuation

            ___ Grammar

            ___ Paragraphs: one idea per paragraph; many per page






5. Content

            ___ Must apply strategic planning concepts, ideas and theories.

                        (SWOT is not sufficient)

1.      What is the concept or theory?  Describe it.

2.      Whose concept or theory is it?

3.      What is its purpose?

4.      What are its elements?

5.      What are its “if/then” inputs and outcomes?

6.      What are the conditions of its use?

7.      What should it be able to tell us about the strategy being considered?

___ Must analyze current issues presented based on the Methodology, concepts,

                        ideas and theories

 Grading Rubric: Criteria for the Final Project












1.      Identify the nature of a business problem.



Note that:


1. The firm’s ROA is low.


2. That the prospects for the Exploration and Production business and the paperboard business are not good. 3. That some strategic reorientation of the firm is needed.



Recognize that: ROA is low and the paper and energy businesses have poor prospects.



Fail to note either that the ROA is low or the fact that the prospects for exploration and paperboard businesses are poor.



2.      Identify the information needed to address the problem and use the information to analyze it.



Identify the forecasted cash flow and return characteristics of each of the business segments. This information is primarily in the Outlook section of the segment analysis



Recognize the need for some strategic decisions for the firm and in a general way without doing a good cash flow analysis.



Fail to use the information in either the narrative statements or the cash flow as the basis of the analysis of the case. 



3.      Analyze the information



1. Recognize from the narrative portion of the case that the paperboard and exploration and production businesses need to be divested.


2. Conduct a complete cash flow analysis based on the information in the case and determine the cash flow that will be available including the debt proviso that 40% of all asset sales must go to retire debt until the debt is retired.



1. Use the narrative portion of the case to conclude that the firm will need to exit some businesses.


2. Use the cash flow information in a nonsystematic way as part of the analysis.



1.Not recognize that the paperboard and exploration and production businesses are under performers.


2. Not use the cash flow information in any way as part of the analysis.



4.      Develop a plan of action



1. Recommend that: the firm sell the exploration and production business, the paperboard business, and the forest products businesses. 


2. Some consideration needs to be given to the timing of the forest products sale based on forecast increases in value. The cash generated by the sale to be allocated to the other businesses.



1. Recommend that the firm sell two businesses from among the exploration and production, forest product, and paperboard business.


2. Use the cash flow to support the remaining businesses.



1. Recommend that one or none of the businesses be sold.


2.Fail to use the cash flow data to inform the decision.



CompetencyExceeds Expectation (3)Meets Expectation (2)Does Not Meet Expectation (1)No Evidence (0)
Critical Thinking                                                                                                                                                                                                                                          
Problems requiring calculations with a Maximum value of 80 Points                                                                                                                                                                                                                                                                                                                                                                                                                                                    
Nearly all causes or processes of economic phenomena are perfectly identified and stated. (72 points or more of 80 points) Most causes or processes of economic phenomena are correctly identified and stated. (56 to 71 points of  80 points) Most causes or processes of economic phenomena are not correctly identified and stated. (40 to 55 points  of 80 points) No causes or processes of economic phenomena are stated clearly. (0 to 39 points of  80 points) 
Effective Communication                                                                                                                                                                                                                                    
Graphical Problems and completion of Graphs with a maximum value of 80 points.                                                                                                                                                                                                                                                                                                                                                                                                                                       
All definitions of curves or items identified on graphs are stated nearly perfectly.  (72  points or more of 80 points) Most definitions of curves or items identified on graphs are stated correctly. (56 to 71 points of 80 points) Most definitions of curves or items identified on graphs are not stated correctly. (40 to 55 points of 80 points) No definitions of curves or items on graphs are stated clearly.
(0 to 39 points of 80 points)
Tools and Methods of Economics                                                                                                                                                                                                                             
This examines tools and methods of economic analysis using multiple-choice questions with a maximum value of 140 points.                                                                                                                                                                                                                                                                                                                                                                                             
All definitions of are stated nearly perfectly.  (126 points or more of 140 points) Most definitions are stated correctly. (98 to 125 points of 140 points) Most definitions are not stated correctly. (70 to 97 points of 140 points) No definitions are stated clearly.
(0 to 69 points of 140 points)


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

Last Updated:2/11/2010 9:42:16 AM