PRINCIPLES OF ECONOMICS II - MICROECONOMICS
ECONOMICS 202 (01)
FALL 2014
Office Phone:
Dr. Mona El Shazly
Tuesday/Thursday 11:00 a.m. – 12:15 p.m., BSC 122
Division of Business, Mathematics & Sciences
Bush Science Center, Room 137
786-3676
Email Address:
[email protected]
Office Hours:
Tuesday, Thursday: 12:30 p.m. – 3:00 p.m.
Wednesday: 1:00 p.m. – 2:00 p.m.
4:30 p.m. – 7:00 p.m.
Required Text:
Economics, Principles and Policy
Baumol, W. J. and Blinder, A.S.
12th Edition, 2011 South-Western Cengage Learning
Professor:
Class Time/Room:
Office:
Microeconomics –Study Guide to accompany text
Course
Information:
Economics 202 is the second half of a two-semester sequence of Principles of Economics.
The main topics covered in Economics 202 are consumer choice theory, demand and
elasticity, production theory, alternate market structures, pricing of factors of production, and
firms’ financing.
Students are strongly encouraged to relate classroom teaching to real world events and to
keep up with developments in the business and financial world. The "Wall Street Journal"
provides an excellent source of information.
Course
Pre-requisites:
Course
Credit hours:
Campus
Evacuation
Statement:
Econ 201 and Math 107 are pre-requisites for ECON 202.
Students must have successfully completed the all prerequisite prior to taking Principles of
Microeconomics.
3 credit hours
It is possible that during a semester, the need may arise to evacuate the campus for a
period of time. If that occurs, the college will make every effort to minimize lost
instructional time. In this class, I will expect you to send an email to me at
[email protected] from your home computer so that I can inform you of how
we will proceed.
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Course Goals:
General Education
Goals:
The students in this course will:
1. Develop an understanding of the basis of consumer choice.
2. Utilize basic algebraic and graphical skills in analyzing production and consumer
theory.
3. Understand the basis of the decision making process of the firm.
4. Be able to distinguish between alternate market structures.
5. Identify the short comings and remedies of the market mechanism.
6. Be able to relate to other economies which are at different stages of development.
This course addresses the following General Education goals:
Goal I:
Appreciation for the liberal arts
Objective 1. A base knowledge in the liberal arts (social sciences)
Evidence of meeting this goal: Tests and Study Guide exercises.
Goal II:
Higher order thinking and communication skills
Objective 1. The ability to analyze, synthesize, and evaluate.
Objective 2. The ability to communicate effectively in both written and
spoken forms.
Evidence of meeting this goal: Analysis of market news, class discussions and presentations,
tests, and homework assignments.
Goal III:
Skills and habits for lifelong learning and development
Objective 1. Information gathering skills that support study, lifelong learning,
and career pursuits.
Objective 2. Knowledge and skills that promote continuing personal
development.
Evidence of meeting this goal: News interpretation, analyzing facts and presenting them in
class, identifying and using alternate information sources including Internet and e-mail.
Instructor Goals:
1.
2.
3.
To develop an understanding of the forces behind microeconomic analysis.
To encourage students to develop higher order thinking and analytical skills.
To utilize various modes of instruction during the course such as: lectures, class
discussions, computerized exercises, transparencies, current news and events.
Course Objectives:
The student during the course of the semester will study the essentials of microeconomics.
The theory of consumer choice is studied emphasizing concepts such as: utility, indifference
curves, budget lines, and elasticity, all of which are discussed in detail. Also, production
theory, the firm’s decision of output and price determination, is discussed at length.
Alternate market structures, pure competition, monopolistic competition, oligopoly and
monopoly are all identified, pointing out their basic characteristics and operations.
Attendance Policy:
Students are expected to attend class on a regular basis. Attendance will be checked at the
beginning of each class period. Students who are late for class will be counted as absent.
You are allowed no more than three excused or unexcused absences during the course of the
semester. If a student misses more than three classes, her grade will be affected. For every
absence in excess of three, the final course grade will drop by one letter grade on the grading
scale.
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Classroom Conduct:
Students are expected to adhere to the following rules of conduct:
 Students are asked to turn off all electronic devices in class.
 Only registered students may attend class. Guests, including children, are not
permitted.
 No food or drink is permitted in class.
 Students who leave the classroom for any reason are not permitted to return and will
be counted as absent.
 Reading or sending text messages is strictly prohibited and will result in class
dismissal.
Grading Scale:
Letter grades for the course will be determined by the following scale:
100-90
89-85
84-80
79-75
74-70
69-65
64 and below
Course Requirements
and weights:
Extra Credit:
Available
Resources
for Students:
Make-up Tests:
A
B+
B
C+
C
D
F
There will be a total of three tests. The final course grade weight distribution is:
Test I
30%
Test II
30%
Test III
30%
In Class Answers
to Study Guide Questions
10%
100%
Students may have the opportunity to earn extra credit by relating the concepts studied and
discussed to events that are experienced in the real world through readings in the Wall Street
Journal and discussing them in class as time permits.
In addition to the standard lectures, study guide sessions and posted office hours, students
have access to:

Test banks (older editions) are placed on reserve in the library to ensure mastery
of the subject matter.
Students who miss any of the tests and have a valid excuse, will be allowed to take a
cumulative make-up test that will be offered on the day of the final exam.
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FALL 2014
ECONOMICS 202 (01)
DATE
CHAPTER TITLE
NUMBER
August
28
Introduction and Review of Course Outline
Review of Supply and Demand
4
September
2
Consumer Choice: Individual and Market Demand
5
4
Consumer Choice: Individual and Market Demand
5
9
Indifference Curve Analysis
Appendix 5
11
Study Guide Chapter 5 and 5A
Video: Consumer Choice (30 min)
16
Demand and Elasticity
6
18
Demand and Elasticity
6
23
Study Guide to Chapter 6
Video: Elasticity (30 min)
25
TEST I: Chapters 4, 5, 5A and 6
30
Test I Returned and Reviewed
Production, Inputs and Cost
Building Blocks for Supply Analysis
7
October
2
Production, Inputs and Cost
Building Blocks for Supply Analysis
7
7
Output, Price and Profit
The Importance of Marginal Analysis
8
9
Output, Price and Profit: The Importance of Marginal Analysis
and
The Relationship Among Total, Average and Marginal Data
8
4
Appendix 8
14
Study Guide to Chapters 7 and 8
16
FALL BREAK (NO CLASS)
21
TEST II: Chapters 7, 8 and 8A
23
Test II Returned and Reviewed
The Firm and Industry Under Perfect Competition
10
28
The Firm and Industry Under Perfect Competition
10
30
Study Guide to Chapter 10
November
4
Monopoly
11
6
Monopoly
11
11
Study Guide to Chapter 11
Video: Monopoly (30 min)
13
Between Competition and Monopoly
12
18
Between Competition and Monopoly
12
20
Study Guide to Chapter 12
25
27
THANKSGIVING BREAK (no class)
December
2
TEST III: Chapters 10, 11, 12
4
Test III Returned and Reviewed
Video: “A Beautiful Mind”
5
December
9
Video: “A Beautiful Mind” Continued
Extra Credit Assignment on Video
Due December 9 at 11:00 a.m.
Make-Up Cumulative Exam on Exam Final Exam Day and
Time
6