NEW MEXICO JUNIOR COLLEGE

MISSION STATEMENT

Principles of Economics (Micro)

SYLLABUS

  1. GENERAL COURSE INFORMATION
  2. A. Course Title: Principles of Economics (Micro)
    B. Course Number: EC 223 - 30250
    C. Semester: Fall 2017
    D. Days/Time: M W F 11:00:00 AM - 11:50:00 AM
    E. Credit Hours: 3
    F. Instructor: Howell, Chris
    G. Office: C.M. Burke University Center (UC) 222
    H. Email Address: CHowell@nmjc.edu
    I. Office Phone: (575) 492-2659
    J. Office Hours: Monday: 8:00:00 AM-8:45:00 AM (MST); 10:00:00 AM-10:45:00 AM (MST); 12:00:00 PM-12:45:00 PM (MST);
    Tuesday: 9:00:00 AM-9:15:00 AM (MST);
    Wednesday: 8:00:00 AM-8:45:00 AM (MST); 10:00:00 AM-10:45:00 AM (MST); 12:00:00 PM-12:45:00 PM (MST);
    Thursday: 9:00:00 AM-9:15:00 AM (MST);
    Friday: 8:00:00 AM-8:45:00 AM (MST); 10:00:00 AM-10:45:00 AM (MST);
    Virtual Tuesday: 3:00:00 PM-4:45:00 PM (MST);
    Virtual Thursday: 3:00:00 PM-4:45:00 PM (MST);
    I will make every effort to respond to e-mails within 24 hours Mon - Fri and before noon on Monday for messages sent over the weekend.
    Students may contact me to make an appointment outside of office hours if needed.

    K. Time Zone: Mountain Time
    L. Prerequisite(s): Algebra (highly recommended)
    M. Corequisite(s): None
    N. Class Location: BUC218
  3. COURSE DESCRIPTION

    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.

  4. COURSE RATIONALE / TRANSFERABILITY

    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.

  5. REQUIRED / SUGGESTED COURSE MATERIALS

    Required:

    Aplia Access Code (Note: Aplia comes with an electronic copy of the textbook.)

    Suggested:

    Principles of Economics, 8th Edition

    N. Gregory Mankiw

    ISBN: 978-1-337-107952

    You can buy your books online at the NMJC Bookstore.

  6. GRADING POLICY Grading Policy - Principles of Economics

    Assessment

    Problem Sets (Aplia assignments)

    40%

    Exams (4)

    60%



  7. INSTITUTIONAL STUDENT LEARNING OUTCOMES

    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:

  8. DEPARTMENTAL STUDENT LEARNING OUTCOMES

    Students in the Business/Computer Science Departments should be able to:
    1) Demonstrate an understanding of industry specific ethics (self & community),
    2) Prepare and interpret documents,
    3) Interpret and characterize data appropriate to the course (critical thinking),
    4) Demonstrate computer skills appropriate to the course, and
    5) Demonstrate the value of professionalism in the workplace.

  9. SPECIFIC COURSE STUDENT LEARNING OUTCOMES

    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.

  10. ADDITIONAL INFORMATION

    The instructor will respond to student e-mail by the end of the next business day.

    Assignments will be graded within seven days of the DUE date.




    In this course, students will utilize Aplia to complete homework assignments and to participate in economic experiments. Students will use Canvas to take exams.

  11. GENERAL/MISCELLANEOUS

    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 specialneeds@nmjc.edu.

    Attendance Policy
    Attendance is required at every session of each course for which the student is enrolled. When unavoidable circumstances make attendance impossible, students must provide a satisfactory explanation of their absences to their professors. College-sponsored activities are considered excused absences and the appropriate sponsor of those students who will be absent from class will notify professors. Students having absences due to college-sponsored activities will need to make arrangements with the affected classes / professor to take care of required work; however, arrangements for make-ups should be made within a reasonable time frame, usually within one week of the absence. Regarding make-up work, absences due to late registration are considered the same as regular absences.

    Cell Phones/Pagers
    All cell phones and pagers must be turned off when the student is participating in any lecture, laboratory, or other learning activity.

    Classroom Conduct
    The professor is responsible for maintaining a class environment best suited for effective learning. By registering for this class, the student is assumed to have entered into an agreement with New Mexico Junior College and the professor to attend 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.

    Food and Drink Policy
    Food items and soft drinks may not be consumed in NMJC classrooms. Students are also discouraged from bringing food and drink items into the classroom even though these items remain in sealed packaging. Bottled water is permissible.

    No Children in the Classroom
    In order to adhere to instructional procedures as well as maintain the safety of children, NMJC’s policy of no children in the classrooms (lecture, lab, etc.) will be followed.

    Plagiarism
    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.

    Smoking/Use of Tobacco
    New Mexico Junior College is cognizant of the health hazards associated with smoking / use of tobacco for the smoker, as well as the non-smoker. In an effort to provide a healthy environment for students, employees, and others who may frequent the campus, NMJC prohibits smoking / use of tobacco inside any campus building or facility.

    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
    Regular, punctual attendance is required for all classes at NMJC. Although the professor has the right to drop any student who has missed the equivalent of 2 weeks of instruction (based on a 16 week semester) whether it’s a face to face, online, or a hybrid course, it is not guaranteed that the professor will drop the student. 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 www.nmjc.edu, or submitting the required paperwork to the Registrar’s Office by 5:00 p.m. on Tuesday, November 21, 2016. All students are encouraged to discuss their class status with the professor prior to withdrawing from the class.

  12. CRITICAL INCIDENT AND EVACUATION PLAN
  13. ACADEMIC CALENDAR
  14. FINALS SCHEDULE
  15. COURSE OUTLINE
    Module Zero Due: Aug 28
      Assignment - Learning Styles Inventory
           Syllabus Quiz
    Module One Introduction Due: Sep 12 
    Ch 1 Ten Principles of Economics  
    Ch 2 Thinking Like an Economist  
    Ch 3 Interdependence and the Gains from Trade  
         
    Module Two How Markets Work Due: Sep 26
    Ch 4 The Market Forces of Supply and Demand  
    Ch 5 Elasticity and Its Application  
    Ch 6 Supply, Demand, and Government Policies  
           Exam One (Chs 1 - 6)  
         
    Module Three Markets and Welfare Due: Oct 10
    Ch 7 Consumers, Producers, and the Efficiency of Markets  
    Ch 8 The Costs of Taxation  
    Ch 9 International Trade  
         
    Module Four The Economics of the Public Sector Due: Oct 24
    Ch 10 Externalities  
    Ch 11 Public Goods and Common Resources  
    Ch 12 The Design of the Tax System  
           Exam 2 (Chs 7 - 12)  
         
    Module Five Firm Behavior and the Organization of Industry Due: Nov 14
    Ch 13  The Costs of Production  
    Ch 14  Firms in Competitive Markets  
    Ch 15  Monopoly  
    Ch 16  Monopolistic Competition  
    Ch 17  Oligopoly  
            Exam Three (Chs 13 - 17)   
         
     Module Six  The Economics of Labor Markets  Due: Dec 9
     Ch 18  The Markets for the Factors of Production  
     Ch 19  Earnings and Discrimination  
     Ch 20  Income Inequality and Poverty  
     Ch 21  The Theory of Consumer Choice  
           Comprehensive Final Exam  
       
      This schedule is subject to change based on the progress of the class.
       
      Instructor may give a pop quiz at any time. Pop quizzes will become part of the 'Assignments' grade

     

    Note: There is an assignment in Aplia for each chapter.