William Rainey Harper College ECO 211 Microeconomics: An Introduction to Economic Efficiency Syllabus FALL 2012 ECO 211-007 and ECO 211-008

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TWO SECTIONS These web pages will be used by two different class sections: ECO 211-007 (Tuesday/Thursday, 9:30, J-253) and ECO 211-008 (Tuesday/Thursday, 11:00, J-251) General Information INSTRUCTOR: Mark Healy OFFICE: J-262 OFFICE HOURS PHONE: Office: 847-925-6352 Home: 815-728-1571 Cell: 815-861-7265 E-MAIL: mhealy@harpercollege.edu BLACKBOARD WEBPAGE: http://harper.blackboard.com/ TEXTBOOK WEBPAGE: http://www.mcconnell19e.com click on "Microeconomics", then click on "Online Learning Center - Student Edition" in lower left-hand corner COURSE DESCRIPTION This course will cover the area of economics commonly defined as microeconomics which is concerned with the individual parts of the economy such as individual businesses or industries, individual consumers, and individual products. Our goal is to study whether the economy uses our limited resources to obtain the maximum satisfaction possible for society. We will concentrate on three issues or goals: ALLOCATIVE EFFICIENCY, PRODUCTIVE EFFICIENCY, and EQUITY, or "efficiency, efficiency, and equity". TEXTS [The options and prices below are not guaranteed by your instructor. They are provided only to give students information on some of the options available. Students should verify the information before purchasing.] REQUIRED:   Microeconomics, by McConnell, Brue, and Flynn, 19th edition, McGraw-Hill, 2011 ISBNs: Paperback: 9780077337735 Ebook: 9780077233334   Textbooks can be bought or rented at the Harper College Bookstore (L building) or online at: http://www.harperstore.com buy new for $186 plus sales tax [Students can sell the book back for up to 50% ($93) of what they paid, (total coat = $186 - $93 = $93)] buy used for $140 plus sales tax [Students can sell the book back for up to 50% ($70) of what they paid, (total cost = $140 - $70= $70)] rent for $84 and pay NO sales tax. OR You can purchase the ebook by calling 1-800-262-4729 Students can also rent the book for about $42 plus $5 shipping from http://www.chegg.com REQUIRED:   Study Guide For Microeconomics, McConnell/Brue/Walstad, 19th edition, McGraw-Hill, 2012 The Study Guide can be bought at the Harper College Bookstore (L building) or online at: http://www.harperstore.com ISBN 978-0-077338-00-8 Cost about $56 plus tax  OR The Study Guide is also available in an online version for only $15: To purchase: Go to: http://highered.mcgraw-hill.com/sites/0077337735/information_center_view0/ and click on "First Time Users" (see figure below)   Click on "I am a Student" Then, in the right column you can buy the online version of the Study Guide by clicking on: BLACKBOARD All students in ECO 211-008 will use the Blackboard site for ECO 212-007. If you do not see the -007 section listed, please e-mail the instructor at mhealy@harpercollege.edu  All students must log-in to our Blackboard website, study the syllabus, and take the required 5-point, online, "Syllabus Quiz" before Thursday, 8/30. The syllabus quiz may be taken as many times as necessary and only the highest score will be counted. Blackboard Instructions: Always use the the Firefox browser when using blackboard (http://www.mozilla.org/en-US/) Go to http://harper.blackboard.com Follow the instructions to "log-in", If you need help see the Student Service Desk link below the Login button.. You should see "ECO 211 007 - MICROECONOMICS (Fall 2012)" in the "My Courses" box. If you do not please e-mail the instructor: mhealy@harpercollege.edu   E-MAIL Option to Forward Mail from your Harper E-mail Account If you are not planning on using your Harper email account, you can find instructions on how to forward email from that account to one you check frequently by logging in to the Harper Student Portal and clicking on the "My Harper E-Mail" tab. All correspondence in this class will be sent to your Harper e-mail account. When e-mailing your instructor always put "ECO 211" and a message in the subject line. Please use proper spelling, punctuation, and grammar. GRADING The final grade for the class will be awarded according to the following point system. Changes may be made to this grading policy. All changes will be announced in class and posted on the class Blackboard page. ACTIVITY INFORMATION POINTS 1 syllabus quiz 5 points, must be taken online at: http://harper.blackboard.com/ 5 points 12 Required Activities The Required Activities are online (Blackboard) chapter review quizzes of about 20 questions - usually multiple choice. They are worth two points per quiz/chapter. They can be retaken as many times as you wish and only the highest score will be included in the final grade. 24 points 5 in-class quizzes 10 multiple choice questions, 1 point each each, only the best 4 will be included in the final grade. 40 points 3 unit exams 40 multiple choice questions each * 120 points Final Exam 80 multiple choice questions, COMPREHENSIVE 80 points Papers 4 at 10 points each 40 points | | TOTAL: 309 POINTS * Each of the three unit exams will also have an extra credit essay question worth about 3 points Letter grades will be awarded as follows: 90%=A, 80%=B, 70%=C, 60%=D, below 60%=F MAKE-UP POLICY Exams: Students will be allowed to take an exam at a time other than the scheduled class period only IF: 1. the instructor is notified BEFORE the scheduled exam time AND 2. the student has a very good reason to miss the exam at the scheduled time. Quizzes: Since only four of the five quizzes will be included in the final point total, there should be little need to take a quiz at a time other than the scheduled class time. Papers Papers can be rewritten for full credit but they must be turned in by the due date to earn the chance to be rewritten. Papers turned in late cannot be rewritten. Please note that papers are either graded as an "A" or an "F", so the chance to rewrite the paper is important. A final due date for all papers and rewrites will be announced in class. For more information see papers BRIEF COURSE OUTLINE IMPORTANT: For exact reading assignments see: Assignments (http://www.harpercollege.edu/mhealy/eco211/micassig.htm) Unit 1: An Introduction To Economics, Efficiency, and the Market System Ch. 1 -- Limits, Alternatives, and Choices and the 5 Es Ch. 2 -- The Market System: The Market and the 5 Es Ch. 3 -- Individual Markets: Demand and Supply and the 5 Es Ch. 5 -- Market Failure and the Role of Government Unit 2: Consumer Decisions and the Costs of Production Ch. 4 -- Elasticity: Deciding How Much Ch. 6 -- Consumer Behavior and Utility Maximization: Consumer Decisions Ch. 7 -- The Costs of Production: Producer Decisions / Costs Unit 3: Product Markets: Decision Making and Efficiency Ch. 8 and 9 -- Pure Competition Ch. 10 and 18 -- Pure Monopoly and Regulation Ch. 11 -- Monopolistic Competition and Oligopoly Unit 4: Resource Markets: Decision Making, Efficiency, and Equity Ch. 13 -- The Demand for Resources Ch. 14 -- Wage Determination Ch. 20 -- Income Inequality, Poverty, and discrimination Ch. 22 -- Immigration NOTE: This outline may be changed! Regular class attendance is needed since changes will be announced in class. ATTENDANCE POLICY Class attendance is strongly recommended, but not required. Former students have indicated that the material covered in class is very helpful at the time of the examinations. LIBRARY RESERVE A textbook and a study guide have been placed on reserve in the library in case you leave yours at Grandma's house. They can be checked out from the circulation desk for two days at a time. HOW TO PASS ECONOMICS This is a difficult course! There is an old rule of thumb concerning studying for college courses: on average students should study TWO hours for every ONE hour of class. This is an average, which means some courses require more study time and some less. You may find that economics requires MORE. The following suggestions should help you learn economics: Passive reading of the textbook is not very helpful. Read with a pen in your hand and a notebook on which to list, repeat, copy, calculate, etc. ALSO, pay close attention to the TABLES and GRAPHS. THEY ARE IMPORTANT. Attend class. Your instructor will review the material from the textbook, add additional material, and answer questions. Come to class with your questions. While in class TAKE NOTES and lots of them! We will go fast. If you want something repeated, ASK. Do problems. The assignment web page lists the problems from the textbook and Study Guide that you are responsible for in each unit. DO THEM ALL. If you can't do these problems you will do poorly on the quizzes and exams. When doing the multiple choice questions in the printed Study Guide, it is suggested that you do NOT circle the answers in the book. Rather, write the letter of the answer that you selected on a separate sheet of paper. There are two reasons for doing this: (1) it is easier to grade them since all answers are listed together at the end of the Study Guide chapters, and (2) by not writing in the study guide you can go over the questions again and again without having the correct (or incorrect) answers already marked. See the instructor for assistance. This should be done EARLY in the semester. The Tutoring Center also offers help. Or, or ask questions on the Blackboard Discussion Board Keep up. It is easy to get behind. To get a good grade you will have to devote a significant amount of out of class time to studying economics. If you get behind there simply will not be enough time. Try to APPLY the concepts learned in class to the "real world" including issues in the news and aspects of your personal life.

SCHEDULE OF IMPORTANT DATES
-- Fall 2012 --

The following dates are TARGETS only. THEY CAN BE CHANGED!. Any changes will be announced in class at least one week before the scheduled date of the quiz, exam, or paper and posted here.

DATE	ACTIVITY
|	|
On, or before, Thur. 8/30	Syllabus Quiz. Take the 5-point Syllabus Quiz at: http://harper.blackboard.com/
Thur. 8/30	Paper 1 - Be sure to read and study: http://www.harpercollege.edu/mhealy/eco211/lectures/microch1-17.htm
Thur. 29/6	Quiz 1 - Ch.1 Only
|	Start looking for your article for paper 2
CHANGED to Tue. 9/18	Paper 2 - Study chapter 3 !
CHANGED to Tue. 9/25	Quiz 2 - Chapter 3 Only
Thur. 9/27	Paper 3 - Study chapter 5 (negative externalities)
Thur. 10/4	Exam 1 - Chapters 1, 2, 3, 5
Thur. 10/18	Paper 4 - Study chapter 4 !
Thur. 10/25	Quiz 3 - Chapter 4 Only
Thur. 11/8	Exam 2 - Chapters 4, 6, 7
Sun. 11/18	LAST DAY TO DROP THE CLASS
Tue. 11/20 CANCELLED	Quiz 4 - Chapter 8 and 9 ALL STUDENTS WILL RECEIVE 10 POINTS!
Thur. 11/29	Quiz 5 - Chapters 10 and 18
Thur. 12/6	Exam 3 - Chapters 8, 9, 10, 11, and 18
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9:30 class: Tue. 12/11, 9:55-11:40 11:00 class: Tue. 12/11, 11:50-1:35 Final exams are given in our regular classrooms.	FINAL EXAM [FINAL EXAM SCHEDULE] 80 points comprehensive

 

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