Professor's Syllabus

OCEAN COUNTY COLLEGE
Professor's Syllabus

Professor’s Name: Dr. V. A. Reilly

Course Title and Number: Microeconomic Principles – ECON 152

Catalog Description:

This course is an intensive study of supply and demand analysis. Theories and principles of market behavior are examined and applied to economic issues related to production, consumption, and distribution.

Office Location: Instruction Building, Room A-320

Phone Number: 732-255-0400 ext. 2430

E-Mail Address: vreilly@ocean.edu

Office Hours: 8:00 - 9:30 AM Monday, Tuesday, Thursday, and Friday

Introduction:

1994 - Present

· Professor of Economics and Finance

Business, Economics & Computer Studies Department

· Dual appointment to Computer Science Department since 1997

Education

CAPELLA UNIVERSITY Ph.D. - Education

THOMAS EDISON STATE COLLEGE Certificate in Distance Learning

FORDHAM UNIVERSITY MBA - Finance

PACE UNIVERSITY BBA - Public Accounting and

AAS - Taxation/Management

After a 16-year career in the corporate world (Bankers Trust, Shearson/American Express) dealing with technology, I found myself teaching at Ocean County College. So it was inevitable that I would look for opportunities to infuse the appropriate level of technology into my teaching both in the classroom and on the Internet. Since the Fall 1999, I have been teaching online courses in Macroeconomics (ECON151), Microeconomics (ECON152), Finance (BUSN275), and Contemporary Economic Issues (ECON153). In fact, in 2003, I was named as a Digital Content Leader by WebCT for my coursework.

I have found this to be an interesting and exciting vehicle to bring educational material to a new audience like you.

Please go to the Discussion Board and find the section on INTRODUCTIONS and tell us something about you and your experiences with online education.

Required Text and other Materials:

Microeconomics - Principles, Problems and Policies
McConnell & Brue, 17th edition, 2008, McGraw-Hill

General Education Goals:

· To develop the ability to become an independent thinker through mathematical, scientific, and philosophical reasoning.

· To develop the ability to solve problems by collecting, organizing, and evaluating information.

· To develop both the ability and moral sensitivity needed to make informed judgments concerning ethical issues.

· To develop to develop a historical consciousness, including the ability to reflect thoughtfully and accurately about historical and contemporary issues of local, national, and global importance.

· To develop a global perspective on problems and issues that humankind faces, and to explore solutions which are morally, socially, economically, politically, and ecologically sound.

· To develop and demonstrate civic and social responsibility.

· To develop an understanding of technology and its impact on society, and the environment.

Course Learning Outcomes/Objectives:

At the end of the course, students will have a basic understanding of the following economic concepts:

· Describe the basic concepts of the price elasticity coefficient for demand and supply (elastic, inelastic, and unit elastic); illustrate the affect of time on the price elasticity of supply.

· Analyze the concepts of utility, marginal utility, the law of diminishing marginal utility and how they relate to price elasticity of demand.

· Compare and contrast the fixed and variable costs; summarize the marginal-cost concepts and the law of diminishing marginal returns concept.

· Compare and contrast the four basic market models: pure competition, pure monopoly, monopolistic competition, and oligopoly.

· Describe the components of anti-trust laws (Sherman, Clayton, FTC, etc.), as well as three major anti-trust cases (U.S. Steel, Alcoa, and Dupont Cellophane). Also included are: the three types of mergers: horizontal, vertical, and conglomerate.

· Identify the basic concepts involving Poverty: the distribution of income in the United States and the Lorenz Curve (graphic representation of that distribution); the major causes of income inequality; the social insurance programs and public-assistance programs.

· Describe the basic terms and concepts used in regard to labor unions.

· Identify the basic concepts of the Balance of Payments and International Trade/Agreements, exchange rate systems and the depreciation/appreciation of currency.

Unit Learning Objectives can be found in the Learning Modules for each chapter.

Course Standards:

· Students are expected to be prepared. This preparation includes: reading of the textbook chapters, reviewing PowerPoint Presentations, participating in class discussions, completing all exams and Internet Assignments.

· Student grades will be calculated by:

· Four online exam scores @20% 80%

· Internet Assignment (10) 20%

· Online Exams:

· These are timed and each will consist of multiple choice and true/false questions.

· These must be completed within the allowed time frames (see course site Calendar for dates and times).

· Internet Assignments:

· Students will select ten (10) Internet Assignments from a list of web-based questions as listed on the homepage icon or at the end of each text chapter.

· Each will be worth ten (10) points and will constitute the fifth exam worth 100 points total.

· Due dates for each assignment will be found on the Course Calendar. Assignments may be submitted earlier, but there is a penalty for late submissions.

· Two (2) points will be deducted for each day the assignment is late. Each assignment will then be graded for content and completeness.

· Each assignment must be pasted or written into an email and sent to the Instructor via the site Course Mail. The Instructor will NOT open attachments.

· Each submission must have IA #1, IA #2, etc. in the subject area.

· After the Calendar date, assignment grades will be posted to the student’s individual grade file.

Through the Online Exams students will reinforce the basic principles and theories of Microeconomics. Utilizing the Internet Assignments, students will learn to make a practical application of economic theories through Internet sites.

Additional Information: Students must remember to check the Calendar, Private E-Mail and Discussion Board on a regular basis. Unless otherwise stated, the Professor will try to respond to all student postings within 72 hours and will post grades for assignments 48 hours after their due date.

Grade Scale:

A Excellent 90 +

B+ Very Good 86 – 89

B Good 80 – 85

C+ Above Average 76 - 79

C Average 70 – 75

D Passing – Below Average 60 – 69

F Failure below 59

Course Outline:

Chapter numbers listed for softcover (hardcover) editions of text.

Unit One
Chapter 09 (or 21) Pure Competition
Chapter 10 (or 22) Pure Monopoly
Chapter 11 (or 23) Monopolistic Competition and Oligopoly
Chapter 12 (or 24) Technology, R & D, and Efficiency

Unit Two
Chapter 3              Demand, Supply, and Market Equilibrium
Chapter 6 (or 18)   Extensions of Demand & Supply Analysis
Chapter 7 (or 19)   Consumer Behavior and Utility Maximization
Chapter 8 (or 20)           The Costs of Production

Unit Three
Chapter 18 (or 30) Antitrust Policy and Regulation
Chapter 20 (or 32) Income Inequality and Poverty
Chapter 22 (or 34) Labor Market Institutions and Issues: Unionism, Discrimination, Immigration

Unit Four
Chapter 23 (or 35) International Trade
Chapter 24 (or 36) Exchange Rates, Balance of Payments, and Trade Deficits

Withdrawal Policy:

· Any student who has not logged into the course by the census date for the semester will be automatically dropped from the course with no grade.

· Until mid-semester, any student wishing to withdraw (Grade = W) may do so for any reason by e‑mailing a request to the professor. The student must obtain a drop/add form from Admissions (you can request that Admissions mail it to you if you do not come to campus). Once completed and signed by the student, it should be mailed to the professor (at Business Dept., Ocean County College, Toms River, NJ 08754). It is the student's responsibility to insure that the proper form is submitted to the professor in a timely manner so that it can be processed by mid‑semester.

· After mid-semester, the professor’s permission is required to withdraw (Grade = W). A W will be granted only to students with a passing grade. Those with failing grades may be given a grade of F instead of the W. It is the student's responsibility to insure that the proper form is submitted to the instructor. If you are withdrawing because of poor grades, a W grade must be requested; it will not automatically be given.

Academic and Student Support Services:

Students will find a number of useful and informative services under Web Links, located on the left side menu of the course.

Navigational Assistance:

On the homepage and under Web Links, students will find a link to the Blackboard Student Guide. This should provide basic information to guide you through the course site. Additional information on technical items can be found by contacting the free 24/7 hotline at 1-866-866-1122.

Minimum Technical Requirements:

· To be successful in this course, students need basic computer skills especially in using Word Processing software and the Internet.

· It is the student’s responsibility to have reliable access to a computer, either at home, work, or on campus.

· Students will need Microsoft Word and PowerPoint to access various files in this course. Access to free downloadable version of both Microsoft Word Viewer and PowerPoint Viewer is available under Web Links – Technical Resources. The entire Microsoft Office Suite is available in the OCC Bookstore for $25.00.

· No previous knowledge of economics is required for this course as it covers introductory material.

Statement of Plagiarism: Students should refer to the student handbook (Policy #5180).

Internet Etiquette:

Students should review the Course Netiquette section posted under Course Information. Students will find additional information on the proper Internet etiquette under Web Links - Academic Resources – Core Rules of Netiquette.

Statement about Civility:

Students are expected to behave in an appropriate academic manner while on the OCC campus or utilizing any OCC course sites.

Campus Resources & Services: Tutoring is available in the Writing Lab and in the Mathematics Tutoring Center. In addition, Student Success Seminars are scheduled each week and are posted on the college website under "Campus Resources and Services".

Disabilities Statement: If there is any student in this class who has special needs due to learning disabilities or other kinds of disabilities, please feel free to discuss this with me or else someone at the Disability Resource Center. Participants with disabilities who believe that they may need accommodations in this course are encouraged to contact the Disability Support Services in the Student Success Center at 732.255.0456 as soon as possible to better ensure that such accommodations are implemented in a timely fashion. In addition, students can find additional information under Web Links – Student Resources - OCC Center for Students with Disabilities (ADA).

Disclaimer: Reasonable changes to this course outline may be made exclusive of course requirements, course calendar, and grading procedures.

Revised: January 2008 {var}

Revised: January 2008 {cj}

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Ocean County College – Microeconomic Principles