Principles of Economics (Micro)


  2. A. Course Title: Principles of Economics (Micro)
    B. Course Number: EC 223 - 10305
    C. Semester: Spring 2018
    D. Days/Time: Online
    E. Credit Hours: 3
    F. Instructor: McCool, Jeff
    G. Office: Larry Hanna Training and Outreach Center (HTO) 150
    H. Email Address:
    I. Office Phone: (575) 492-4711
    J. Office Hours: Virtual Monday: 8:00:00 PM-10:00:00 PM (MST);
    Virtual Thursday: 8:00:00 PM-10:00:00 PM (MST);
    K. Time Zone: Mountain Time
    L. Prerequisite(s): Algebra (recommended)
    M. Corequisite(s): None
    N. Class Location: Virtual

    This course presents micro-economic theory, concepts of supply and demand, input and output decisions in perfect and imperfect competition, distribution of income to factors, governmental regulation of business, and unions. This is a three credit hour course.


    EC 223 is a standard Principles of Economics – Microeconomics course, and offers ready
    transfer to other community colleges, as well as four-year institutions. The course is a basic
    requirement in most Business Administration, Accounting, Marketing, Management, and
    Finance degree plans (as well as others), and can fulfill a part of the Social Science
    requirement in other degree plans.



    Principles of Economics, 8th Edition, Mankiw, Gregory
    Aplia Access Code (Note: Aplia comes with an electronic copy of the textbook.)
    Aplia 1-Semester Printed Access Card for Mankiw's Principles of Economics, 8th Edition
    ISBN 9781337107952


    Harbrace Essentials w/Resources for Writing in the Disciplines (Spiral)
    2nd edition

    You can buy your books online at the NMJC Bookstore.


    This will be a point system, calculated to measure the total effort of each student. It will be composed of the following elements:

    Unit Exams 500
    (100 points per exam)

    Final Exam 200

    Aplia Homework 110

    Participation 100
    (-2 per missing assignment)

    Outside Paper 50
    (Instructions will be given)

    Total 960

    Exams may consist of true-false, multiple choice, matching, and short-answer essay questions. Dates for the exams are listed in the course outline section of the syllabus. All exams must be taken to complete the course, and should be taken on the announced dates.

    The grading scale will be based on the percentage of total points earned by each student as follows:

    90+ A
    80 – 89 B
    70 – 79 C
    60 – 69 D
    Less than 60 F

    The instructor will respond to student e-mail within 24 hours.
    Grades for the course will be posted by the end of the day on Tuesday of each week.

    Retrieving Grades from T-BirdWeb Portal
    Go to the New Mexico Junior College T-BirdWeb Portal login page. Please enter your User Identification Number (ID), which is your Banner ID, and your Personal Identification Number (PIN). When finished, click Login.

    Tips for Success in Online Courses:
    1. Log in to class regularly.
    2. Pay attention.
    3. Take notes.
    4. Keep up with readings and assignments.
    5. Ask questions when you do not understand something.
    6. Utilize your professor’s office hours and e-mail.
    7. Read the text.
    8. Adhere to the deadlines posted in the course outline.


    New Mexico Junior College’s institutional student learning outcomes represent the knowledge and abilities developed by students attending New Mexico Junior College. Upon completion students should achieve the following learning outcomes along with specific curriculum outcomes for respective areas of study:


    1. Students will demonstrate an understanding of industry specific ethics. (Self and Community)
    2. Students will prepare and interpret business documents.
    3. Students will interpret and characterize data appropriate to the course. (Critical Thinking)
    4. Students will demonstrate computer skills appropriate to the course.
    5. Students will demonstrate the value of professionalism in the workplace.


    Upon completition of this class, students should be able to:

    -Explain the concept of opportunity cost, comparative advantage and exchange;
    -Demonstrate knowledge of the laws of supply and demand and equilibrium and use supply and demand curves to analyze responses of markets to external events;
    -Explain the concepts and calculate price elasticity of demand and supply and income elasticity;
    -Demonstrate an understanding of consumer choice including utility analysis;
    -Demonstrate an understanding of producer choice, including cost analysis and break even point;
    -Compare and contrast the following market structures: perfect competition, monopoly, monopolistic competition, and oligopoly;
    -Explain the impact of government intervention in markets including price ceilings and price floors, the impact of taxes, and antitrust;
    -Explain the role of labor and capital markets.


    Student Requirements
    If you have not already received login information for Canvas/T-BirdWeb Portal/E-mail, you will need to contact the Enrollment Management office at (575) 492-2546.

    Check first-time login page for instructions at

    Canvas Assistance

    You must have access, on a regular basis, to a computer that supports the Canvas minimum specifications and has an active connection to the Internet. See the minimum computer specification requirements at



    The place you will complete the majority of your homework assignments for the semester.

    During this course, to complete certain assignments, you will be required to access a website dedicated to students and professors of economics. To access the website, you need to register for an account with Aplia at On the first day of class, I will provide you with an instruction sheet, as well as a course key so that you can register. Please register on the website within 24 hours after I pass out the course key.


    Aplia homework grading policy.

    If your homework grade is 50 - 100%.....5 points
    If your homework grade is 01 - 49%.....2 points
    If your homework grade is 0%.....0 points

    Each homework assignment will be worth 5 points maximum.
    In order to accommodate technical problems, or personal dilemmas we are bound to encounter throughout the course of the semester, you will have 3 FREE PASSES to utilize with your homework assignments.

    What does this mean? Ultimately what it means is if we have 32 total assignments, you will be graded on your best 29. If you encounter some sort of technical difficulty with a computer while you are trying to submit an assignment, don’t sweat it. If you miss the deadline for turning the assignment in you can use one of your free passes for that assignment. Understand what this means. I do not want to hear your excuses about why you did not turn in your homework. If you use up your 3 free passes, then any assignments not turned in after that receive a 0 for the grade.

    Be organized, and stay up with your deadlines. If the assignment is due at 11:00 pm and you turn it in at 11:01 pm, the system will not accept your assignment. If you understand this up front, hopefully we can avoid a bunch of problems and heartaches.


    Students will be held responsible for the information on these pages.

    Academic Honesty
    Each student is expected to maintain the highest standards of honesty and integrity in online academic and professional matters. The College reserves the right to take disciplinary action, up to and including dismissal, against any student who is found guilty of academic dishonesty or otherwise fails to meet these standards. Academic dishonesty includes, but is not limited to, dishonesty in quizzes, tests, or assignments; claiming credit for work not done or done by others; and nondisclosure or misrepresentation in filling out applications or other College records. Cheating or gaining illegal information for any type of graded work is considered dishonest and will be dealt with accordingly.

    Americans with Disabilities Act (ADA) Information
    Any student requiring special accommodations should contact the Special Needs Student Services Coordinator at (575) 492-2576 or by e-mail at

    Attendance Policy and Participation Expectations
    It is expected that you regularly log into class at least three times weekly and check your Canvas mail to ensure you have not missed any changes/updates. Students are expected to complete discussions/quizzes/tests/ assignments before deadlines expire.

    Canvas Help
    If you experience difficulty with Canvas you may reach the Canvas Helpdesk at, or by calling the 24 hour helpdesk phone at (575) 399-2199.

    The professor is responsible for monitoring and evaluating student conduct and student behavior within the Canvas course. By registering for this class, the student is assumed to have entered into an agreement with New Mexico Junior College and the professor to log into the class regularly and to behave in an appropriate manner at all times. Disruptive behavior may result in the student being removed from the class and dropped for the semester. For comprehensive information on the common rules of netiquette and other online issues, please review the NMJC Online Student Handbook.

    Online Learning Environment
    By participating in an online class, you undertake responsibility for your own progress and time management.

    Offering the work of another as one’s own, without proper acknowledgment, is plagiarism; therefore, any student who fails to give credit for quotations or essentially identical expression of material taken from books, encyclopedias, magazines and other reference works, or from the themes, reports, or other writings of a fellow student, is guilty of plagiarism. Plagiarism violates the academic honesty policy and is considered cheating.

    Tutoring Assistance
    Free tutoring services are available to all NMJC students through Brainfuse and the Academic Success Center located in Mansur Hall room 123 and 124.

    Withdrawal Policy
    The instructor has the right to drop any student who has failed to log on to Canvas for two weeks or more, but it is not guaranteed that the instructor will drop you. If the student chooses to stop attending a class, he/she should withdraw from the class by accessing your student account in the T-Bird Web Portal at, or submitting the required paperwork to the Registrar’s Office by 5:00 p.m. on Thursday, April 19, 2018. Failure to withdraw yourself from a course by this date may result in your receiving an “F” in the course. All students are encouraged to discuss their class status with the professor prior to withdrawing from the class.


    EC 223 Micro Spring 2018
    Course Outline
    Dates Chapters

    03.12.18 – 03.25.18 Introduction to Aplia, Chapters 1-3

    04.02.18 – 04.15.18 Chapters 4-9

    04.16.18 – 04.22.18 Chapters 10-12

    04.23.18 – 04.29.18 Chapters 13-17

    04.30.18 – 05.06.18 Chapters 18-20

    05.07.18 – 05.09.18 Final Exam Week

    Key Dates

    Week of 03.12.18 Introduction Material and Chapter 1 Material
    Homework – Aplia deadlines as posted @

    Week of 03.19.18 Chapters 2 and 3 Material
    Homework – Aplia deadlines as posted @

    March 24, 25 Exam 1 (Chapters 1-3)

    Week of 04.02.18 Chapters 4, 5, and 6 Material
    Homework – Aplia deadlines as posted @

    Week of 04.09.18 Chapters 7, 8, and 9 Material
    Homework – Aplia deadlines as posted @

    April 14, 15 Exam 2 (Chapters 4-9)

    Week of 04.16.18 Chapters 10, 11, and 12 Material
    Homework – Aplia deadlines as posted @

    April 21, 22 Exam 3 (Chapters 10-12)

    Week of 04.23.18 Chapters 13, 14, 15, 16, and 17 Material
    Homework – Aplia deadlines as posted @

    April 28, 29 Exam 4 (Chapters 13-17)

    Week of 04.30.18 Chapters 18, 19, and 20 Material
    Homework – Aplia deadlines as posted @

    May 05, 06 Exam 5 (Chapters 18-20)

    Week of 05.07.18 Final Exam Week

    May 07, 08, 09 Final Exam