EC 200 Principles of Microeconomics

EC 200 Principles of Microeconomics

Fall 2015 Course Syllabus

PRINCIPLES OF MICROECONOMICS

EC 200 C

Course Syllabus

FALL 2015

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EC 200 Principles of Microeconomics

Fall 2015 Course Syllabus

M 2:30–4pm, T 3–5pm, W 11am–12:30pm + Open door policy

Course Description:

The fundamentals of price theory. A study of the interaction of markets and decisions made by consumers and firms. Market structure, allocation of resources, and efficiency issues are addressed.

Course Objectives:

Upon completion of this course, students should be able to:

1.  Use economic thinking to analyze choices in the presence of trade-offs.

2.  Apply the supply-and-demand framework and its extensions to the analysis of markets.

3.  Explain the motivations and impact of government involvement in the marketplace.

4.  Model the behavior of a profit maximizing firm in different market structures.

5.  Perform quantitative analysis and demonstrate scientific reasoning in the context of economic models.

Relevance For General Education And Business:

As a course on how the economy works and on economic thinking, the Principles of Microeconomics course provides a foundation for informed citizenship and for informed practice of a variety of professions. For business professionals, the study of economics provides an understanding of how markets work and of the economic and regulatory environment of business. For business majors, the study of economic models and theory provides the conceptual and technical foundation for course work in finance, marketing, and accounting, as well as in economics.

Within the language of the Washburn University General Education Statement, this course falls into the social sciences general education group. It provides students with opportunities to acquire and further develop their quantitative reasoning and scientific literacy skills.

The aforementioned skill is crucial for the overall success in the course. It will be developed and improved through lectures, classroom discussion, examples and exercises used in class, practice problems, homework assignments, and the feedback provided by the instructor. The attainment of subject knowledge and general education skills will be assessed primarily by questions on the comprehensive final examination.

Expected Workload:

This course is worth three credit hours. For every credit hour awarded for a course, the student is typically expected to complete approximately one hour of classroom instruction, online interaction with course material, or direct faculty instruction and a minimum of two additional hours of student work each week for approximately 15 weeks for one semester or the equivalent amount of work over a different amount of time.

Grading:

Grades are distributed on a curve based on students’ weighted scores at the end of the semester. The cutoffs for A, B, C, and D I usually use on the curved scale are 90, 80, 70, and 60, respectively. This, however, is just a guideline. I reserve the right to deviate from it slightly, in which case you will be informed in advance.

The components of the overall score are as follows:

Practice quizzes: 10% of the overall score.

HW assignments: 20% of the overall score.

Two midterm tests: 20% of the overall score each, for the total of 40%.

Final test: 30% of the overall score.

The grade appeal procedure can be found on pp. 74-76 of the 2015-2016 Washburn University Catalog.

Quizzes:

Once in a while, in-class pop quizzes will be given. Quizzes will be graded. Each quiz is worth one point on the final 100-pt grade scale. If over the semester there happen to be more than 10 quizzes, then at the end of the semester only 10 best scores will count.

Homework:

Homework will be assigned on a regular basis. Each assignment is due at the beginning of the next class. Late submission of homework will result in substantial point deductions. Homework assignments will be graded and solutions will be discussed in class, handed out, or posted on the class web page.

Examinations:

There will be two midterm tests, tentatively scheduled for Sep 23rd and Nov 4th. Test 1 will cover all the topics from the first six weeks. Test 2 will be based primarily on topics covered since the previous test. However, it will most likely include some questions that require knowledge of the earlier material as well. The final exam is going to be comprehensive, with a slight bias towards the most recent material. The exact time and date of the final exam can be found at http://www.washburn.edu/academics/course-schedule/files/fall/final-exam-schedule.pdf

The majority of the test questions will be in the form of problems and “short-answer” questions. A limited number of multiple-choice questions may appear on some tests as well. Answering test questions may involve plotting graphs and performing calculations. Calculators for the tests are provided by the university as needed.

Attendance:

All students are expected to attend all the class meetings according to the university policy. While I am not going to take attendance, I reserve the right to issue warnings and take action. Pop quizzes may also be viewed as a spot-check tool. Naturally, every student is personally responsible for learning the material covered during the class period that was missed.

Class Participation:

Everyone is strongly encouraged to ask questions and make comments during the class. I hope you will soon discover it is in your best interest to do so as it helps you understand the material covered.

Communication and Feedback:

Talking to me before or after class or coming to see me during my office hours (listed above) will probably work best. You can also make an appointment to come see me at another time, or just drop by whenever my office door is open.

I am always very eager to hear any comments from you about the class, especially if you would like to suggest changes to the way the class is taught. If you are uncomfortable discussing any of those issues in person, you can do it anonymously at www.washburn.edu/sobu/dnizovtsev/feedback.html

Part of the course-related communications will be conducted via the Desire2Learn portal. Some material may also be available at www.washburn.edu/sobu/dnizovtsev/Econ200.html.

Your Washburn University e-mail address will be the official address used by the University for relaying important messages regarding academic and financial information and the University will consider this your official notification for important information. It may also be used by your instructors to provide specific course information. Students who prefer to use an alternate e-mail address to receive official University notices should make certain they have implemented the mail forward option in Office 365 using the instructions available at. http://www.washburn.edu/a-z-index/its/files/training/office365/ForwardEmailOutlookWeb.pdf

It is the student’s responsibility to ensure that the official Washburn e-mail box does not exceed the message quota resulting in the inability of e-mail messages to be accepted into the mailbox.

Make-up Policy:

If you miss a quiz, you cannot make it up. The only exception is when you travel on university related business (road games, competitions, etc.). Late homework is accepted, but with substantial point deductions.

Normally, no make-up tests are given. The most I can do is discuss a possibility of redistributing the weights of your final score in the case when you have to miss a test due to significant unforeseen circumstances. Even that is possible only if I have been informed about your absence in a timely manner (before the test, preferably, or within hours after the test). Any official documentation that may serve as an explanation for missing a test is appreciated.

Withdrawal Policy:

The course withdrawal deadlines are available at https://www2-prod.washburn.edu/self-service/coursedates.php

Depending on the timing of the withdrawal, students may be eligible for a full or partial refund and/or may be responsible for repaying all or a portion of their financial aid. Information regarding tuition refunds is available at http://www.washburn.edu/current-students/business-office/tuition-refunds.html

Students who do not attend their courses and fail to officially withdraw themselves will receive a grade of “F” and may also be required to repay all or a portion of their financial aid based on their non-attendance.
For further information, contact the Financial Aid Office at 785-670-1151 or e-mail .

An instructor, after due notice to the student, may request withdrawal of the student from a course because of nonattendance through the same date as the last day a student may withdraw from a course. This would NOT absolve the student of financial responsibility for tuition/fees for the course in question. The inclusion of this information in the course syllabus is considered due notice.

Students who are called to active duty and must withdraw from classes as a result should contact the Director of the Student Services Office, Morgan Hall, Room 105, phone 785-670-1629, or email .

Success Week:

Success Week for undergraduate students is designated as the five week days preceding the first day of scheduled final examinations each Fall and Spring semester. It is intended to provide students ample opportunity to prepare for final examinations. For guidelines related to workload and assignments during Success Week, see www.washburn.edu/sobu/dnizovtsev/successweek.pdf

Academic Misconduct Policy:

All students are expected to conduct themselves appropriately and ethically in their academic work. Inappropriate and unethical behavior includes (but is not limited to) giving or receiving unauthorized aid on examinations or in the preparation of papers or other assignments, or knowingly misrepresenting the source of academic work. Washburn University’s Academic Impropriety Policy describes academically unethical behavior in greater detail and explains the actions that may be taken when such behavior occurs. For guidelines regarding protection of copyright, consult http://www.washburn.edu/copyright. For a complete copy of the Academic Impropriety Policy, contact the office of the Vice President for Academic Affairs, Bradbury Thompson Alumni Center Suite 200, or go on-line to: http://www.washburn.edu/academic-impropriety.

Disability Services:

The Student Services Office (SSO) is responsible for assisting in arranging accommodations and for identifying resources on campus for persons with disabilities. Qualified students with disabilities must register with the office to be eligible for services. The office MUST have appropriate documentation on file in order to provide services. Accommodations may include in-class note takers, test readers and/or scribes, adaptive computer technology, brailled materials. Requests for accommodations should be submitted at least two months before services should begin; however, if you need an accommodation this semester, please contact the SSO immediately.

Location: Student Services, Morgan Hall, Room 105

Web: http://www.washburn.edu/student-services; Phone: 785-670-1629; E-Mail:

Students may voluntarily identify themselves to the instructor for a referral to the Student Services Office.

Notice of Non-Discrimination/Safe Educational Environment:

The University prohibits discrimination on the basis of race, color, religion, age, national origin, ancestry, disability, sex, sexual orientation, gender identity, genetic information, veteran status, or marital or parental status. The following person has been designated to handle inquiries regarding the non-discrimination policies: Dr. Pamela Foster, Equal Opportunity Director/Title IX Coordinator, 785-670-1509, .

Student One Stop (S.O.S.):

The Student One Stop incorporates the front office services of the Admissions Office, Business Office, Financial Aid and the Registrar in one convenient location. Stop in the Morgan Hall Welcome Center and visit with a University Service Advisor for assistance or give us call us at (785) 670-2162. You can also email us at . More information can be found at www.washburn.edu/sos

Student Health Services/WU Counseling Services:

Student Health Services (SHS) provides support for students experiencing challenges with learning and adapting to university life. SHS offers urgent care for illness and injury; sports, school, and travel abroad physicals (including TB testing); well woman exams; STD and pregnancy testing; immunizations/vaccinations; and care of chronic illness. More information can be found at http://www.washburn.edu/health

Licensed mental health professionals are available in the Counseling Services’ office for personal, academic, and mental health support. More information can be found at http://www.washburn.edu/counseling

Center for Student Success:
As a Washburn student, you may experience difficulty with issues such as studying, personal problems, time management, or choice of major, classes, or employment. The Center for Student Success is available to help students either directly through academic advising, mentoring, testing and developing learning strategies or by identifying the appropriate University resource. To discuss an issue with someone confidentially and free of charge, contact the center at 785-670-1942, , or visit Mabee Library, Room 201.

Topics covered and readings assigned

The following list is tentative and subject to change. All the page numbers refer to the required text, Microeconomics by Hubbard and O’Brien (3rd ed). More accurate day-by-day reading assignments will be regularly posted on the class Web page. It is in your best interest to make yourself familiar with the material prior to coming to class.

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