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NORTH CENTRAL TEXAS COLLEGE
COURSE SYLLABUS
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Course Title: PRINCIPLES OF MICROECONOMICS
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Course Prefix & Number: ECON 2302
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Section Number: 401
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Semester: Fall 2018
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Semester Credit Hours: 3
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Lecture Hours: 3
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Lab Hours: N/A
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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.
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Course Prerequisite(s): None
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Required Materials:
ECON 2302 – Microeconomics Workbook (SECTION #401 ONLY – Harry Ellis) –(1) Microeconomics Workbook: Principles and Practice (Orange Workbook) by Battaglia & Dadres, Stipes, 6th edition, ISBN: 978-1-60904-631-1. Buy a new workbook, not a used the workbook.
(2) Low-function (11 functions or less) calculator (non- programmable and non-graphing).
(3) Scantron Form 882-E is needed for homework and exams. 10 forms should be enough.
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INSTRUCTOR INFORMATION
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Name of Instructor:
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Harry Ellis
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Campus/Office Location:
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Corinth Campus, Room 201
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Telephone Number:
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N/A
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E-mail Address:
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haellis@nctc.edu (Best way to contact me)
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OFFICE HOURS
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Monday
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Tuesday
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Wednesday
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Thursday
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Friday
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2pm – 4pm
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2pm – 4pm
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Room 201 (Please let me know the day before you plan to come)
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STUDENT LEARNING OUTCOMES
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At the successful completion of this course the student will be able to:
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Explain the role of scarcity, specialization, opportunity cost and cost/benefit analysis in economic decision-making.
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Identify the determinants of supply and demand; demonstrate the impact of shifts in both market supply and demand curves on equilibrium price and output.
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Summarize the law of diminishing marginal utility; describe the process of utility
maximization.
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Calculate supply and demand elasticities, identify the determinants of price elasticity of demand and supply, and demonstrate the relationship between elasticity and total
revenue.
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Describe the production function and the Law of Diminishing Marginal Productivity;
calculate and graph short-run and long-run costs of production.
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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.
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Determine the profit maximizing price and quantity of resources in factor markets under perfect and imperfect competition by use of marginal analysis.
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Describe governmental efforts to address market failure such as monopoly power,
externalities, and public goods.
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Identify the benefits of free trade using the concept of comparative advantage.
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GRADING POLICIES & PROCEDURES
Your final grade in this class will be determined from your grades on all exams, unannounced quizzes, and homework assignments. You will take two exams during the semester, and each will be worth 250 points for a total of 500 points. Quizzes will count 50 points, and homework assignments will count 150 points total. The final exam will be comprehensive and will count 300 points.
The final grade is based on 1000 possible points according to the following scale:
900 – 1000 = A 800 - 899 = B 700 - 799 = C
600 – 699 = D 599 or below = F
EXAMS
Exams will be returned in class, but the instructor reserves the right to keep them on file. Exams I and II will each consist of 40 multiple choice questions and some short answer questions. There will be no makeup exams. If one exam is missed, the points will be made up on the final. For example, if a student misses one exam with an approved excuse, the final would then be worth 550 points, instead of 300 points. The one hour and 50 minute final exam will consist of 80 multiple choice questions.
Students who miss an exam without an acceptable excuse will receive a zero for that exam. You have one week from the date of the missed exam to bring me your written documented excused absence or you will receive a zero for the missed exam.
IMPORTANT DATES
First Class Day Monday, August 27
Labor Day (No Class) Monday, September 3
Exam I Monday, October 1
Exam 2 Monday, November 5
Last Day to Withdraw Thursday, November 8
Thanksgiving Break November 21 - 24
Final Exam Wednesday, December 12 from 12 until 1:50pm
Graded Assignment Percentage
Exam I 25%
Exam II 25%
Final Exam 30%
Homework 15%
Quizzes 5%
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100% final grade
COURSE OUTLINE
Date (Week of) Assignment in Workbook
August 27 Chapters 1, 2
September 3 Chapters 2, 3
10 Chapters 3, 4
17 Chapters 4, 5
24 Chapter 5
October 1 Exam I (Chapters 1 - 5), Chapter 6
8 Chapters 7, 8
15 Chapters 8, 9
22 Chapters 9, 10
29 Chapter 11
November 5 Exam II (Chapters 6 – 11), Chapter 12
12 Chapters 12, 13
19 Chapters 13, 14
26 Chapter 15
December 3 Review
12 Final Exam at 12 noon
You are welcome to use non-programmable and non-graphing calculators on quizzes and exams, but you must have your own calculator and cannot use another person’s calculator! Also, calculators that are a part of smart phones (or similar devices) are not allowed.
ELECTRONICS POLICY
All smart phones (and similar devices) MUST be turned off and put away during class; no texting or checking e-mail on any device is allowed during class! If you are caught looking at your smart phone, you will be asked to leave class and you will receive a 10 point penalty on your homework total. If you are caught a second time, you will be withdrawn from the course. You may use your laptop to take notes ONLY, but you must sit in the first or second row.
Regular and punctual attendance is expected of all students in all classes for which they have registered. I will send around an attendance sheet each day, and you are responsible for signing the sheet to receive attendance credit. Under no circumstance can you sign someone else’s name who misses classes. All absences are considered to be unauthorized unless the student is absent due to illness or emergencies as determined by the instructor. It is the student’s responsibility to provide documentation as to the emergency for approval and judgement by the faculty member. Approved college sponsored activities are the only absences for which a student should not be held liable and only when provided by a college official ahead of the absence. Valid reasons for absence, however, do not relieve the student of the responsibility for making up required work.
Furthermore, quizzes and homework assignments which you might miss by failing to attend class will lower your grade. Quizzes CANNOT be made up, and homework will NOT be accepted late. However, I will drop two of your lowest quiz grades, and I will also drop a few of your lowest homework grades (groups of 10 questions). ARRIVING TO CLASS LATE AND LEAVING CLASS EARLY ARE INAPPROPRIATE AND COULD POTENTIALLY AFFECT YOUR GRADE!
Students will be dropped from a class by the Registrar upon recommendation of the instructor who feels the student has been justifiably absent or tardy a sufficient number of times to preclude meeting the course’s objectives. Persistent, unjustified absences from classes or laboratories will be considered sufficient cause for College officials to drop a student from the rolls of the College. From Board Policy FC (LOCAL)
Last day to withdraw from a course with a “W” is Thursday, November 8, 2018.
DISABILITY SERVICES (Office for Students with Disabilities)
The Office for Students with Disabilities (OSD) provides support services for students with disabilities, students enrolled in technical areas of study, and students who are classified as special populations (i.e. single parents).
Support services for students with disabilities might include appropriate and reasonable accommodations, or they may be in the form of personal counseling, academic counseling, career counseling, etc. Furthermore, OSD Counselors work with students to encourage self-advocacy and promote empowerment. The Counselors also provides resource information, disability-related information, and adaptive technology for students who qualify.
For support, please contact the counselors at (940) 498-6207 or (940) 668-4321. Alternatively, students may stop by Room 170 in Corinth or Room 110 in Gainesville.
CORE CURRICULUM FOUNDATIONAL COMPONENT AREA (For classes in the Core)_______