Course Title: PRINCIPLES OF MICROECONOMICS (Online)

Course Prefix & Number: ECON 2302

Section Number:  230

Semester: Fall (December) Mini Mester 2016

Semester Credit Hours: 3

Lecture Hours: 3

Lab Hours: N/A

Course Description (NCTC Catalog):

Analysis of the behavior of individual economic agents, including consumer behavior and demand, producer behavior and supply, price and output decisions by firms under various market structures, factor markets, market failures, and international trade. 48 lecture hours.

Course Prerequisite(s): None

Required Materials:

(1) Microeconomics: Principles, Problems, & Policies (ebook with ConnectPlus with LearnSmart) by McConnell, Brue, & Flynn, McGraw Hill, 20^th edition, ISBN: 9780077660819

Ø  Students can purchase a loose leaf book directly from McGraw Hill when registering Connect Access

CONNECT REGISTRATION THROUGH CANVAS: Students no longer need a course ID# or a separate website to register for Connect. Rather, the Connect website is now linked directly to Canvas, and so students will ONLY be registering for Connect through their student Canvas accounts for this course starting on the first day of class.

CONNECT ACCESS: The textbook, Learn Smart, and Connect activities are all maintained within the McGraw Hill Connect System. Students need to be enrolled immediately in Connect, which can be purchased at the bookstore, or online directly from McGraw Hill through their student Canvas accounts for this course. Free Temporary access can be used directly from Connect McGraw Hill for 14 days from the first day of class. Students must be enrolled immediately, as multiple assignments are due the first day of class.

CANVAS/CONNECT ACCESS: All students must have complete access to Canvas for the entire semester. It is the student’s responsibility to have access to the internet at all times, as well as having all needed programs to complete the online course. Students are not to give any other person access to his/her Canvas account. Students can be removed from the online course immediately upon violating this rule. Once a student has given another person access to his/her canvas account, the credibility of any work completed becomes questionable.

CANVAS WEBSITE: Students can access Canvas indirectly by going to the NCTC homepage (www.nctc.edu) and clicking on the “Canvas” icon/logo. Or, students can access Canvas directly by going straight to the website for Canvas (https://nctc.instructure.com).

Name of Instructor:

Caroline Gosch

Campus/Office Location:

Gainesville campus, MSS #816

Telephone Number:

(940) 668 - 7731 Ext. 4904

E-mail Address:

cgosch@nctc.edu

# of Graded Course Elements

Graded Course Elements

Percentage or Point Values

27

Assignments (Homework & LearnSmart)

15%

15

Quizzes

15%

5

Exams

70%

At the successful completion of this course the student will be able to:

Explain the role of scarcity, specialization, opportunity cost and cost/benefit analysis in economic decision-making.

 Identify the determinants of supply and demand; demonstrate the impact of shifts in both market supply and demand curves on equilibrium price and output.

Summarize the law of diminishing marginal utility; describe the process of utility

maximization.

Calculate supply and demand elasticities, identify the determinants of price elasticity of demand and supply, and demonstrate the relationship between elasticity and total

revenue.

Describe the production function and the Law of Diminishing Marginal Productivity;

calculate and graph short-run and long-run costs of production.

Identify the four market structures by characteristics; calculate and graph the profit

maximizing price and quantity in the output markets by use of marginal analysis.

Determine the profit maximizing price and quantity of resources in factor markets under perfect and imperfect competition by use of marginal analysis.

Describe governmental efforts to address market failure such as monopoly power,

externalities, and public goods.

Identify the benefits of free trade using the concept of comparative advantage.

Name of Chair/Coordinator:

Donna Hooper

Office Location:

Corinth 209

Telephone Number:

940-498-6266

E-mail Address:

dhooper@nctc.edu

Name of Instructional Dean:

Dr. Larry Gilbert

Office Location:

Corinth 305

Telephone Number:

940-498-6216

E-mail Address:

lgilbert@nctc.edu