Ocean County College

 

Professor’s Course Information Sheet

 

Professor’s Name:                    Dr. V. A. Reilly

 

Course Title and Number:        Microeconomic Principles – ECON 152/DL

 

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

 

Required Text and other Materials:

Microeconomics: Principles, Problems, and Policies

McConnell, Brue, and Flynn – 18th edition – 2009

ISBN #0073365955

 

Course Pre-Requisites: None

 

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 assignments. 
  • Student grades will be calculated based on four online exams, discussion board postings, and assignments.

 

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

 

 

Withdrawal Policy – NEW POLICY:

 

·        Until the OCC cutoff date, November 10, 2009, 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 the cutoff date.

 

·        After the OCC cutoff date to be named, if a student stops attending or is administratively withdrawn, a grade of “F” will be assigned.

 

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 WebCT Student Tutorial. 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 1-866-861-1122.

 

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

 

Internet Etiquette:

Students will find information on the proper Internet etiquette under Web Links - Academic Resources – Core Rules of Netiquette.

 

Statement of Plagiarism: Plagiarism is defined as taking the words or ideas of another person without documenting them. A form of academic theft, the college holds that any instance of plagiarism may result in a failing grade. Students should refer to the student handbook (Policy #5180).

 

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.

 

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

 

Revised: August 2009 {var}