Download MICRO SYL FALL11 RBW

SYLLABUS FOR MICROECONOMICS 2302
HCCS SOUTHWEST COLLEGE
FALL 2011
INSTRUCTOR: R. B. WAGNER
B.S. MACALESTER COLLEGE
M.B.A. INDIANA UNIVERSITY
E-MAIL : [email protected]
CAMPUS:STAFFORD
PHONE: (713)718-7998
REQUIRED TEXT AND MTLS:
ECONOMICS , ROGER A. ARNOLD, 10TH ED. SOUTHWESTERN
PUBLISHING, 2011.
OBJECTIVES OF THE COURSE:

PROVIDE A WORKING KNOWLEDGE OF THE
MECHANISMS OF
THE MARKET PLACE AND THEIR EFFECTS ON INDIVIDUALS AND
INSTITUTIONS WITHIN THE MARKET PLACE.

GAIN AN UNDERSTANDING OF BASIC MICROECONOMIC
CONCEPTS AND THEORIES AND HOW THEY EFFECT
DOMESTIC AND INTERNATIONAL MARKETS.

UNDERSTAND THE CONCEPT OF PROFIT AS A DRIVING
FACTOR IN A FREE MARKET SYSTEM.

DEVELOP AN UNDERSTANDING OF THE ROLE OF
COMPETITION AS IT IMPACTS THE ECONOMY AND THE
FIRM IN TERMS OF PRICE AND OUTPUT DECISIONS.

RELATE ANTITRUST REGULATION TO THE NATURE OF
AMERICAN BUSINESS STRUCTURE AND THE PUBLIC
WELFARE.

EXAMINE THE ROLE OF INDUSTRIAL AND LABOR
INSTITUTIONS AS THEY EFFECT DOMESTIC AND
INTERNATIONAL MARKETS.

GAIN EXPERIENCE IN SPEAKING BEFORE OTHERS THROUGH
CLASS PROJECTS AND DISCUSSONS.

DEVELOP BASIC COMPUTER SKILLS THROUGH INTERNET
ASSIGNMENTS AND PROJECTS.

UTILIZE WRITING AND MATH SKILLS THROUGH WRITTEN
ASSIGNMENTS AND QUANTITATIVE PROBLEM SOLVING.
STUDENT REQUIREMENTS:
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COMMITMENT TO ATTEND CLASS.
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TAKE NOTES AND PARTICIPATE IN DISCUSSIONS.
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COMPLETE READING ASSIGNMENTS PRIOR TO CLASS.
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COMPLETE ALL ASSIGNED WORK ON TIME.
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REVIEW LECTURE NOTES AFTER EACH CLASS.
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READ A DAILY PAPER AND JOURNAL ARTICLES.
ASK QUESTIONS AND KEEP ABREAST OF ECONOMIC NEWS
ARTICLES OR BROADCASTS.
PERFORM AT A COLLEGE SOPHOMORE ACADEMIC
LEVEL.
CONDUCT YOURSELF ACCORDING TO THE STUDENT
HANDBOOK.
GRADING BASIS:
THREE MAJOR EXAM GRADES WILL AMOUNT TO 50% OF YOUR FINAL
GRADE. HOMEWORK VIA CENGAGE 15%, 10% PARTICIPATION. THE
FINAL EXAM WILL REPRESENT 25% OF YOUR FINAL GRADE. NO EXTRA
CREDIT WILL BE GIVEN!!
GRADE BASIS -
A=90-100%
B=80-89
C=70-79
D=60-69
F=<60
CLASS SCHEDULE:
CRN
TIME
54882
9:30-11
DAYS
M-W
CAMPUS
WLOP
ROOM
RM 01
CLASS POLICIES:
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UNEXCUSED ABSENCES IN EXCESS OF NINE HOURS WILL
RESULT IN A “W” AS A FINAL GRADE.
LATE ASSIGNMENTS WILL NOT BE ACCEPTED.
NO MAKE-UP EXAMS WILL BE GIVEN WITHOUT A
MEDICAL EXCUSE ACCEPTABLE TO THE INSTRUCTOR.
ALLOWED MAKE-UPS WILL BE ADMINISTERED AT THE TIME SET
BY YOUR INSTRUCTOR.
STUDENTS ARE RESPONSIBLE FOR DROPPING THE COURSE BY
COMPLETING ALL NECESSARY PAPER WORK. FAILURE TO DO SO
MAY RESULT IN AN “F” IN THE CLASS. PLEASE NOTE THAT
DROPPING COURSES AND REPEATING THEM MORE THAN TWICE
MAY RESULT IN INCREASED TUITION CHARGES.
COUNSELING AND TUTORIALS ARE AVAILABLE. PLEASE CALL
ME TO MAKE ARRANGEMENTS.
INCOMPLETES WILL BE GIVEN ONLY WHEN PROOF OF
ILLNESS OR INJURY THAT PREVENTS COURSE
COMPLETION IS ACCEPTED BY THE INSTRUCTOR.
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DOCUMENTED SPECIAL CONDITIONS OR DISABILITIES THAT
REQUIRE ACCOMMODATION FOR THE STUDENT SHOULD BE
CALLED TO MY ATTENTION ON THE FIRST DAY OF CLASS SO
THAT ARRANGEMENTS CAN BE MADE AS PROMPTLY AS
POSSIBLE.
CHEATING ON EXAMS OR PLAGIARISM WILL RESULT IN
EXPULSION AND AN "F" IN THE CLASS.
OUTSIDE READING SUGGESTIONS:
THE CHRONICLE, THE WALL STREET JOURNAL, BARRONS,
FORBES,FORTUNE, FEDERAL RESERVE BULLETIN, SURVEY OF
CURRENT BUSINESS, THE ECONOMIST, TIME, NEWSWEEK. NETWORK
SOFTWARE BY CENGAGE LEARNING WHICH IS REQUIRED TO
ACCOMPANY YOUR TEXT.
CLASS CALENDAR AND CONTENT
MICROECONOMICS 2302
SPRING 2011
WEEK 1
INTRODUCTION , ORDINARY BUSINESS OF LIFE
RESOURCES
SCARCITY
OPPORTUNITY COST
ECONOMIC EFFICIENCY
METHODS AND THEORIES
MARGINAL ANALYSIS
CHAPT 1
WEEK 2
GRAPHS
ECONOMIC MODELS – POSITIVE VS. NORMATIVE
PRODUCTION POSSIBILITIES CURVES
LAW OF INCREASING COSTS
OPPORTUNITY COST
COMPARATIVE ADVANTAGE
CIRCULAR FLOW MODEL
CHAPT 1A, 2
WEEK 3
MARKET SYSTEM-FUNCTIONS OF RATIONING AND ALLOCATING.
INDIVIDUAL MARKETS: SUPPLY/DEMAND
MARKETS DEFINED
LAW OF DEMAND- CHG. IN Qd
LAW OF SUPPLY- CHG. IN Qs
DETERMINANTS
RESOURCE MARKETS- PYMTS. TO RESOURCES.
CALCULATING EQUILIBRIUM
CHAPT 3
PROJECT ASSIGNMENT, HOMEWORK ASSGNMT. 1 CENGAGE/APLIA
WEEK 4
MARKET INTERVENTION
PRICE CONTROLS
QUANTITY CONTROLS
OUTCOMES OF INTERVENTION BY GOVT.
INCIDENCE OF TAXATION – WHO PAYS?
ELASTICITY OF SUPPLY AND DEMAND.
WEEK 5
INCOME AND CROSS ELASTICITY
CALCULATIONS AND IMPLICATIONS FOR PRICING STRATEGIES ETC.
CHAPT CHAPTS 4,5 AND 20
CONSUMER AND PRODUCER SURPLUS
DECISIONS THAT DETERMINE PRICES AND DEMAND
DECISIONS DETERMINING PRODUCER SUPPLY
SURPLUSES
EQUILIBRIUM
TEST 1 CHAPTS 1, 1A, 2, 3, 4, 5 AND 20.
WEEK 6
PRODUCTION COSTS IMPLICIT/EXPLICIT
THE PRODUCTION FUNCTION
THE COST OF PRODUCTION AND PROFIT MAXIMIZATION
ECONOMIC COSTS
DIMINISHING RETURNS
LEAST COST
SHORT RUN LONG RUN
ECONOMIES OF SCALE
CHAPT 21,22.
WEEK 7
MARGINAL ANALYSIS – COST / BENEFIT
ECONOMIC VS. NORMAL PROFITS
OPTIMIZING GAINS
SUNK COSTS
PRESENT VALUE ANALYSIS
LEGAL FORMS OF BUSINESS
COMBINATIONS
ADVANTAGES/DISADVANTAGES
PARTNERSHIP
CORPORATION
COMBINATIONS- MERGERS THREE TYPES
CHAPT 22
WEEK 8
MARKET STRUCTURES AND IDENTIFICATION..
FOUR MARKET MODELS
PURE COMPETITION
MONOPOLY
OLIGOPOLY
MONOPOLISTIC COMPETITION
WEEK9
PERFECT COMPETITION – DEFINITION
PRICE TAKERS
THE PERFECTLY ELASTIC DEMAND CURVE
INDUSTRY SUPPLY DECISIONS
PROFIT MAXIMIZATION RULE
MARGINAL REVENUE AND MARGINAL COSTS
LONG RUN EQUILIBRIUM VS SHORT RUN
CHAPT 23
WEEK 10
MONOPOLY
ECONOMIC POWER
OUTPUT AND PRICE DETERMINATION.
DISCRIMINATING MONOPOLY.
REGULATED NATURAL MONOPOLIES.
CHAPTS 24
WEEK 11
OLIGOPOLISTIC MODEL.
CONCENTRATION RATIOS
INTERDEPENDENCE
COLLUSIVE, CARTELS, LEADER/FOLLOWER
MONOPOLISTIC COMPETITION MODEL.
CHAPT 25
TEST 2 CHAPTS 21,22,23 24 AND 25.
WEEK 12
FACTOR OR RESOURCE MARKETS, THE DEMAND FOR LAND LABOR
AND CAPITAL.
LEAST COST RULE
DETERMINATION OF DEMAND AND SUPPLY OF RESOURCES.
MRP/MRC PROFIT MAXIMIZATION.
WAGE DETERMINATION
COMPETITIVE LABOR MARKETS
MONOPSONISTIC MODEL
CHAPT 27,28
WEEK 13
RENT,INTEREST AND PROFIT
SUPPLY AND DEMAND OF NON-LABOR RESOURCES.
MARKET FAILURE, DEALING WITH EXTERNALITIES.
ANTI TRUST REGULATION.
LAWS, CASES AND DEREGULATION
CHAPT 26 , 30.
WEEK 14
MARKET FAILURE, EXTERNALITIES AND GOVERNMENTS PLACE IN THE
MARKET.
CHAPT 31 AND 33.
TEST 3 CHAPTS 26,27,28,30,31AND 33.
WEEK 15 MAKE UP EXAMS AND REVIEW
WEEK 16
FINAL EXAM SCHEDULES WILL BE ON THE HCCS CALENDAR.