VALENCIA COLLEGE
ECO 2023 - Principles of Economics - Micro F2F
Class Policies & Course Syllabus
CRN 20345, Spring 2017
INTRODUCTION
This syllabus is a contract between the student and the instructor. By enrolling
and attending in this course, the student agrees to and accepts the terms and
conditions of this contract. It is the responsibility of the student to carefully read
this syllabus in its entirety and to adhere to all policies and procedures within.
VALENCIA I.D. CARDS. Valencia ID cards are required for LRC, and Testing
Center usage; no other form of ID will be accepted at those locations. Possession
and utilization of a Valencia ID is mandatory in order to obtain these services. Be
aware that the testing center will not hand out a test within an hour of closing.
STUDENT FEEDBACK ON INSTRUCTION (SFI). Near the end of the term,
you will receive an invitation through your Valencia email account asking you to
complete the Student Feedback on Instruction (SFI). This is a survey that
provides us with feedback on your experience in this class and helps us improve
the course. The results are released only after grades are submitted. Student
names are not included in the results – your responses will be anonymous. You
will get an email from Valencia informing you when the SFI survey will open.
STUDENT ACADEMIC DISPUTE
Valencia College offers students the opportunity to express concerns privately
with an Ombudsman. An Ombudsman provides a safe and comfortable
environment for students to discuss complaints, concerns or problems privately.
When appropriate, the office will initiate an informal intervention with the goal of
facilitating a resolution that is acceptable to all parties involved. The ombudsman
acts as an independent, impartial resource. If a matter cannot be resolved
through this office, a referral will be made. When appropriate, the office can
make recommendations regarding policy review and change. To learn more
about the role of the ombudsman, including contacts for the west campus, go to
https://valenciacollege.edu/students/disputes/academic/ombudsman.cfm
COURSE DESCRIPTION
This course is an introduction to economic theory and fundamentals of economic
analysis. Emphasis is on the study of microeconomics: market structure, price
determination, factors of production, distribution of income and effects of
competition, monopoly and oligopoly on markets. The student will also be
introduced to international trade and the world economy.
1
GENERAL COURSE OBJECTIVES:
 Understand how scarcity frames the basic economic decision-making process
and resource allocation.
 Recognize the role that self-interest and rational behavior play in decisionmaking.
 Use the role of theory and economic models to analyze individual, business
and government decisions.
 Understand the market system and how prices are established.
 Describe the concept of profit and the components that impact profit in a
market economy.
 Comprehend the various market structures on prices, output and profit.
 Understand the historical rationale for and impact of government involvement
in the micro economy (cultural and historical understanding).
 Understand the basis for and implications of international trade.
CREDIT HOURS: 3
PREREQUISITES: None
CLASS MEETING ROOM: West Campus, Building 11, Room 201
DAY/TIME: Monday and Wednesday @ 1:00 – 2:15 p.m.
PROFESSOR: Kleber Saavedra
OFFICE: College Business Office, Bldg 11, Room 103
PHONE: 407-582-1203 College
EMAIL: [email protected]
REFUND OF FEES
January 17, 2017, 11:59 p.m., is the drop deadline by which students are still
eligible to get back tuition and refundable fees.
SCHEDULED OFFICE HOURS
I don’t have an office on campus, but I am available on an “as-needed” basis to
assist you on matters related to the course. I can meet with you before or after
class, or at any other mutually convenient time. Just see me, or contact me by
phone or e-mail to set up an appointment. I usually respond to emails within 24
hours of receipt. I strongly recommend that you check your atlas email at least
once daily.
Valencia College is committed to providing each student a quality educational
experience. Faculty members have set high standards of instruction for
themselves and for you. If you have a problem in a class, your first step is to talk
to your instructor. If you are still dissatisfied, you may talk with the academic
dean of the division for your class. We will work together to resolve any issues
that arise.
2
TOPICS/AREAS COVERED
1. Limits, Alternatives and Choices
2. The Market System and the Circular Flow Model
3. Demand, Supply and Market Equilibrium
4. Market Failures: Public Goods and Externalities
5. Government’s Role and Government Failure
6. Elasticity
7. Utility Maximization
8. Behavioral Economics
9. Businesses and the Costs of Production
10. Pure Competition in the Short Run
11. Pure Competition in the Long Run
12. Pure Monopoly
13. Monopolistic Competition and Oligopoly
14. The Demand for Resources
15. Wage Determination
16. Rent, Interest and Profit
17. Public Finance: Expenditures and Taxes
18. Antitrust Policy and Regulation
19. Income Inequality, Poverty and Discrimination
20. Health Care
21. International Trade
22. The balance of Payments, Exchange Rates and Trade Deficits
These topics may be covered as discrete topics and/or integrated with other
topic areas at the discretion of the professor. It should be understood that this
topic knowledge is the minimum level for a grade of D or better. These topics
may be expanded at the discretion of the professor and are in no way
intended to be comprehensive or all-inclusive.
Valencia College Core Competencies
The faculty of Valencia College has identified four core competencies that define
the learning outcomes for a successful Valencia graduate. These competencies
are at the heart of the Valencia experience and provide the context for learning
and assessment at Valencia College. You will be given opportunities to develop
and practice these competencies in this class. The four competencies are:
1. Think - think clearly, and creatively, analyze, synthesize, integrate and
evaluate in the many domains of human inquiry
2. Value - make reasoned judgments and responsible commitments
3. Communicate - communicate with different audiences using varied
means
4. Act - act purposefully, effectively and responsibly.”
3
This course reinforces these four Valencia Student competencies.
REQUIRED EDUCATIONAL MATERIALS:
Microeconomics, 20th Edition, INCLUDING CONNECT PLUS, by McConnell, Breu
and Flynn.
EVALUATION:
Tests and Assignments:
There will be three tests during the term. These tests will be comprised mostly of
multiple-choice and true/false questions. Students must take the tests at the
designated dates and times shown on the last page of this syllabus. A student
who fails to take test one or two at the designated date and time because of a
valid, written emergency (as defined by the instructor) will be allowed to take a
make-up test at the testing center without any penalty. Otherwise, if no
written proof of valid emergency is provided, the student will be
penalized 10% of the test grade. There is no provision for taking the final
exam past the specified date and time.
There will be one individual course project. The project may be, at the option of
the student, 1) a written (typed) term paper – or oral presentation - on a topic
selected by the student from the list provided in Black Board; OR, 2) a
hypothetical financial plan. If term paper, it must be at least five pages long (not
including cover page and works cited page), double-spaced, in font no larger
than 12pt, and must include the pros and cons and personal conclusion on the
topic discussed. Format may be MLA or APA. Works cited page is required and it
is worth 10% of the paper. If oral, presentation must be between 5-10 minutes
long, and also include pros and cons and personal conclusion. Students electing
to do an oral presentation MUST notify the instructor, IN WRITING (email), of
their intention to do so no later than March 9; otherwise, a written term paper
will be required. The hypothetical financial plan must be in writing (typed). The
term paper or hypothetical financial plan must be submitted in person (not by
email) on the date specified in the schedule at the end of this syllabus. Late
term papers or hypothetical financial plans will be penalized 10% for
each day late (including weekend days), and none will be accepted
after the final exam.
There will be more than seven (but no more than fourteen) quizzes during the
course, with the seven with the highest score accounting for 30 points (3% of
the course grade) each. Quizzes will be in the form of multiple-choice and/or
short-answer questions and problems, and MAY be taken at the beginning of
each session and prior to covering the material in class. No “make-up” quizzes
are allowed.
There will be three online class discussions that will take place through
Blackboard. Each discussion will count for 30 points (3% of the course grade).
4
Discussion topics will be selected at the beginning of the course, and due dates
to complete discussions in Blackboard are included in the schedule of this
syllabus (last page) and in Blackboard. Note that there are two deadlines for
each discussion: one for each individual student’s initial post, and the second for
the individual student’s response/feedback to at least four of his/her peers in the
class. Any student who does not post his/her initial post by the deadline for such
post, will not be allowed to participate in the rest of that discussion and will
receive a grade of zero on it. Wrap-up discussions for each topic selected may
take place in the classroom, time permitting.
There will be fifteen LearnSmart (LS) assignments during the course, each worth
10 points (1% of the course grade). Note that all LearnSmart assignments
include a deadline, and any student who does not complete the assignment by
the deadline will receive a grade of zero on it. Students may, at their option,
attempt to take each LearnSmart (LS) Assignment more than once. If taken
more than once, the attempt with the highest score will be retained for grading
purposes. There will not be any make-up assignments.
Grading Policy:
Percent:
3 Tests
10, 15, 20
1 Course Project (paper, OP, or financial plan)
10
7 Quizzes (points: 30 each)
21
3 Online (BB) discussions (points: 30 each)
9
15 LearnSmart Assignments (points: 10 each)
15
Points
100, 150, 200
100
210
90
150
The sum of these will determine a letter grade, as follows:
90% - 100% A
80% – 89% B
70% – 79% C
60% – 69% D
0% - 59% F
Withdrawal Policy:
A student who withdraws by the withdrawal deadline March 31, 2017, will
receive a grade of “W.” A faculty member is permitted to withdraw a student
from the faculty member’s class up to the beginning of the final exam period, for
violation of the faculty member’s attendance policy, as published in the faculty
member’s syllabus. A student is not permitted to withdraw from this class after
the withdrawal deadline. If you remain in the class after the withdrawal deadline,
you can only receive a grade of "A", "B", "C", "D", "F" or “I” based upon your
academic achievement upon the completion of all course work, including the
required final examination. An “I” grade will only be assigned under
extraordinary circumstances that occur near the end of the semester. If you
receive an “I” the work missed MUST be made up during the following semester,
at which time you will get an “A”, “B”, “C”, “D” or “F”, depending in your
academic performance for the entire course. Failure to make up the missed
work during the following semester will result in your getting a grade of “F” in
5
the course. Any student who withdraws from the class during a third or
subsequent attempt in this course will be assigned a grade of “F.” The grades of
“WP” and “WF” are eliminated.
The professor will not withdraw any student for any reason before the
withdrawal deadline. It is the responsibility of the student to withdraw before
the withdrawal deadline, and to be aware of the date of the withdrawal deadline.
Students on financial aid should consult a financial advisor or counselor before
withdrawing from a course, as there may be financial implications to the student.
In order to academically maintain financial aid, students must meet all of the
following requirements:
Complete 67% of all classes attempted, and
Maintain a Valencia GPA of 2.0 or higher, and
Maintain an overall GPA of 2.0 or higher, and
Complete degree within the 150% timeframe
Detailed information about maintaining satisfactory academic progress (SAP) can
be found at: http://valenciacollege.edu/finaid/satisfactory_progress.cfm
NOTE ON SECURITY
We want to reassure you that our security officers are here around the clock to
ensure the safety and security of the campus community. It’s important to
remain alert and aware of your surroundings, especially during the early morning
or evening hours. Remember that you can always call security for an escort if
you feel uncomfortable walking alone on campus. White security phones can
also be found in many of our buildings; simply pick up the phone and security
will answer. Finally, report any suspicious persons to West Campus Security at
407-582-1000, 407-582-1030 (after-hours number) or by using the yellow
emergency call boxes located on light poles in the parking lots and along
walkways.
EXTRA CREDIT POLICY
There will be NO extra credit for any individual test, quiz or any other
assignment. Depending on overall scores in the class toward the end of the
course, and at the discretion of the instructor, there may be an overall CURVE
that would benefit all students equally. No exceptions or other
accommodations will be given to earn “extra points.”
CLASSROOM POLICIES:
1. Valencia's attendance policy is that a student will be present for all class
6
2.
3.
4.
5.
meetings. After two absences, a student may receive an excessive absence
notice and must schedule a conference with the instructor immediately. A
student may be withdrawn after four absences (excused or unexcused).
Continual tardiness will be viewed as absences and treated as such. Two
occurrences of being tardy will equal one absence. A student coming in more
than 15 minutes late will be counted as absent for that day.
A student is responsible for all material covered during absences. Make-ups
for scheduled tests must be requested before the test date and are subject to
approval of the instructor. Unscheduled tests cannot be made up.
There will be no eating or drinking in the classroom. Class begins at a
scheduled time and is over when the instructor dismisses class. Leaving early
without prior permission will result in a class-work grade of zero and an
absence.
Students must have an active Atlas account. Students must check their Atlas
e-mails regularly as to not miss any important messages from the professor.
Missed messages via Atlas or any other medium (in-class, etc.) may affect
your grade and are the responsibility of the student. Students must also
access Blackboard on a regular basis to complete assignments and other
activities, as assigned.
Students with disabilities who qualify for academic accommodations must
provide a letter from the Office for Students with Disabilities (OSD) and
discuss specific needs with the professor, preferably during the first two
weeks of class. Accommodations will not be applied retroactively. The Office
for Students with Disabilities determines accommodations based on
appropriate documentation of disabilities (West Campus SSB, room 102,
phone: 407-582-1523).
BAYCARE BEHAVIORAL HEALTH’S STUDENT ASSISTANCE PROGRAM
(Private counseling)
Valencia is committed to making sure all our students have a rewarding and
successful college experience. To that purpose, Valencia students can get
immediate help that may assist them with psychological issues dealing with
stress, anxiety, depression, adjustment difficulties, substance abuse, time
management as well as relationship problems dealing with school, home or
work. Students have 24 hour unlimited access to the Baycare Behavioral
Health’s confidential student assistance program phone counseling
services by calling (800) 878-5470. Three free confidential face-to-face
counseling sessions are also available to students.
STUDENT CODE OF CLASSROOM CONDUCT
Anything that is deemed disturbing to the students or instructor will not be
allowed during class time. This includes any disturbance that is created from a
device (cell phone, etc.). Continual disturbances will be grounds for removal from
the classroom. Laptops are also prohibited in class, unless they are used for
7
taking notes, or other matters related to the classroom activities.
ACADEMIC DISHONESTY
Students must do their own work; there are no exceptions. Students who
plagiarize or cheat risk dismissal from the class and expulsion from the college.
Each student is required to follow Valencia policy regarding academic honesty.
All work submitted by students is expected to be the result of the
student’s individual thoughts, research and self-expression, unless the
assignment specifically states “group project” or similar language. The
minimum penalty for cheating is a grade of zero on the particular work.
LETTER FROM THE DEAN
Expectations of a Valencia College Behavioral & Social Science Student
Welcome to the Division of Behavioral & Social Science at Valencia College’s
West Campus; we are enthused to have this opportunity to assist you in
achieving your educational goals. Higher education is a privilege and an
opportunity; it is your responsibility to realize that you are in control of those
behaviors and actions that can enable success in this course.
From your professors, you can expect the following:
1.
They will be prompt, courteous and respectful.
2.
They will provide a professional learning environment throughout the
entire scheduled instructional period.
3.
They will provide an up-to-date syllabus; when changes need to be made,
they will announce changes in a manner that is conveyed to all students in
their class.
4.
They will provide you with a course that is of necessary rigor to prepare
you for the career you have chosen; because the class you are taking
transfers to a four-year college or university, it will be taught with the
same academic expectations. The bonus of starting your education at
Valencia, when compared to attending a four-year college, is you will be
able to get more personal attention with small class sizes and you will be
able to save money; the classes are not easier.
5.
They will offer time outside of class to discuss your questions.
6.
They will be available to discuss your class concerns in private, outside of
class time; you should try to resolve your class concerns with your
professor before you try to voice your concerns with administrators.
8
7.
They will respond to emails within 2 business days.
8.
They will expect from you what they have expected from the many
students who passed their
classes in the past.
In return, this is what your professor will expect from you:
1.
You will be prompt, courteous and respectful.
Prompt means you come to
class on time, ready to work, with all assignments completed
before you
enter the class or lab. It means that you have studied, that all
conversations, texting and diversions come to a stop and that you are
ready to contribute to a positive learning environment from the beginning
of the class. Courtesy means you are polite in your attitude and behavior
towards your professor and classmates. Respectfulness means that you
regard everyone’s classroom experience as valuable to them, that you
accept your professor’s expertise and experience to create relevant course
objectives and that you treat college and personal property with care.
2.
You will read your syllabus; your syllabus is a contract between your
professor and you. Be aware of deadlines to complete assignments on
time and know your professor’s attendance policy. You will need to attend
class for the full length of time allotted to your science class.
3.
You will be aware of Valencia College policies and procedures found in the
college catalog; ignorance of policies and procedures doesn’t mean
they don’t apply.
4.
You will be serious about learning; it is your responsibility to be an active
participant in your own learning. You will need to devote sufficient time to
learn the material presented by your professor; for most students, this
means you will need to spend at least two hours studying for every hour
of instruction. Learning is an action verb; you will need to do more than
sit through class and reread your notes to be successful. To succeed in
higher level classes, you must retain the information, concepts and skills
you will learn; this can only happen if you work at learning to make the
course content a part of your long term memory. Do not cram!!
5.
You will be encouraged to produce your own study guides. Most college
professors do not provide study guides, but they can give you tips that
will help you produce your own study guides to gain a better
understanding of the course content.
6.
You will be expected to participate in classroom activities. The work you
produce must be your own; cheating and/or plagiarism in any form
9
is not tolerated, and your professor will have specific consequences, in
the syllabus, which will be enforced, should cheating occur.
7.
You will be expected to contribute to a positive learning environment.
Avoid classmates who speak negatively, or who have a negative outlook,
about your class or your professor. Instead, get to know your professor
during office hours; you will learn much more with a positive attitude.
8.
You will be held to a high standard of maturity and responsibility.
Disruptive behaviors will not be tolerated in the classroom. First time
disruptions will be handled by your professor and may include a request
that you leave the class. Very serious or repeated disruptions that impede
learning for others will be reported to the Dean of Behavioral & Social
Sciences and the Dean of Students, with specific consequences that can
include your permanent removal from the class.
Disruptions include: Being noisy when arriving late to class or leaving early.
Carrying on private conversations while the professor is talking. Disrespectful
language, tone and mannerisms. Sleeping or attempting to sleep in class.
Repeatedly asking unnecessary or irrelevant questions.
Using cell phone for any
reason without permission.
My wish is that you get the best learning value from the behavioral & social
sciences classes in which you are enrolled. With everyone abiding by these
expectations, your social science classes at Valencia should be the next step in
achieving your academic dreams.
Dr. Molly McIntire
Dean, Division of Behavioral & Social Sciences Valencia College
SCHEDULE, ON NEXT PAGE………….
10
SCHEDULE
ECO 2023 – Principles of Economics – Micro, CRN 20345, Spring 2017
DISCLAIMER: Changes may be made at the discretion of the instructor (usually in writing).
Date
Assignments
01/09,11 Chapter 1, Limits, Alternatives and Choices
01/18,23 Chapter 1 (including Appendix), concluded
,25
Chapter 2, The Market System and the Circular Flow
Chapter 3, Demand, Supply and Market Equilibrium
01/30,
Chapter 3, concluded
02/01
Chapter 4, Market Failures: Public Goods and
Externalities
Chapter 5, Government’s Role and Failures
02/06,08 Chapter 24, International Trade
Chapter 25, The Balance of Payments, Exchange
Rates and Trade Deficits
Review for Test One
02/13
Test One (Chapters 1-5, 24, 25)
Chapter 6, Elasticity
02/10,13 deadlines for posts in BB, disc. #1
02/15,20 Chapter 6, Elasticity, concluded
Chapter 7, Utility Maximization
Chapter 8, Behavioral Economics
02/22,27 Chapter 09, Businesses and the Costs of Production
Chapter 10, Pure Competition in the Short Run
03/01,06 Chapter 10, concluded
Chapter 11, Pure Competition in the Long Run
03/08,20 Chapter 12, Pure Monopoly
Chapter 19, Antitrust Policy and Regulation
03/20,23 deadlines for posts in BB, disc. #2
Review for Test Two
03/09 Deadline to decide on oral presentation
03/22
Test Two (Chapters 6-12, 19)
Chapter 13, Monopolistic Competition & Oligopoly
03/27,29 Chapter 13, concluded
Chapter 14, The Demand for Resources
04/03,05 Chapter 15, Wage Determination
Chapter 16, Rent, Interest and Profit
04/10,12 Chapter 18, Public Finance: Expenditures and Taxes
Chapter 21, Income Inequality, Poverty and
Discrimination
04/17,20 deadlines for posts in BB, disc. #3
04/17,19 Chapter 21, concluded
Chapter 22, Health Care
Review For Final Exam
Term Papers/ financial plans Due - (HARD
COPY; NOT E-MAILED)
04/24
Final Exam (Chapters 13-16, 18, 21,22)
Classroom Activities
Review Syllabus, Black Board, Faculty Front
Door, Financial Plan, Select Discussion topics
Financial Plan ideas, time permitting
Financial Plan ideas, time permitting
Test One
Wrap-up discussion # 1 on Topic Selected, TP
Financial Plan ideas, time permitting
Financial Plan ideas, time permitting
Video on Pure Competition, time permitting
Financial Plan ideas, time permitting
Test Two
Wrap-up discussion # 2 on Topic Selected, TP
Financial Plan ideas, time permitting
Financial Plan ideas, time permitting
Financial Plan ideas, time permitting
Oral Presentations (TBD)
Wrap-up discussion # 3 on Topic Selected, TP
Oral Presentations (TBD)
Final Exam (time: 1:00 – 3:30 pm)
11