NEW MEXICO JUNIOR COLLEGE
Principles of Economics (Micro)
|A.||Course Title:||Principles of Economics (Micro)|
|B.||Course Number:||EC 223 - 30250|
|D.||Days/Time:||T Th 11:00:00 AM - 12:15:00 PM|
|G.||Office:||C.M. Burke University Center (UC) 222|
|I.||Office Phone:||(575) 492-2659|
|J.||Office Hours:||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. Summer office hours are by appointment. 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)|
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.
Cengage Unlimited access code
Principles of Economics, 8th Edition
N. Gregory Mankiw
You can buy your books online at the NMJC Bookstore.
|Problem Sets (Aplia assignments)||
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:
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.
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.
The instructor will respond to student e-mail by the end of the next business day.
In this course, students will utilize Mindtap to read the textbook, complete homework assignments, and to participate in economic experiments. Students will use Canvas to take exams.
Students will be held responsible for the information on these pages.
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 email@example.com.
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.
All cell phones and pagers must be turned off when the student is participating in any lecture, laboratory, or other learning activity.
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.
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.
Free tutoring services are available to all NMJC students through Brainfuse and the Academic Success Center located at the Pannell Library on the 1st floor.
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 19, 2019. All students are encouraged to discuss their class status with the professor prior to withdrawing from the class.
|EC 213 Principles of Economics (Micro)|
|Week 1||Module Zero|
|1. Ten Principles of Economics|
|Week 2||2. Thinking Like an Economist|
|3. Interdependence and the Gains from Trade|
|Week 3||4. The Market Forces of Supply and Demand|
|Week 4||5. Elasticity and Its Application|
|6. Supply, Demand, and Government Policies|
|Exam One (Chapters 1-6)|
|Week 5||7. Consumers, Producers, and the Efficiency of Markets|
|Week 6||8. Applications: The Costs of Taxation|
|9. Application: International Trade|
|Week 7||10. Externalities|
|Week 8||11. Public Goods and Common Resources|
|12. The Design of the Tax System|
|Exam Two (Chapters 7-12)|
|Week 9||13. The Costs of Production|
|Week 10||14. Firms in Competitive Markets|
|Week 11||16. Monopolistic Competition|
|Exam Three (Chapters 13-17)|
|Week 12||18. The Markets for the Factors of Production|
|Week 13||19. Earnings and Discrimination|
|Week 14||Thanksgiving - no homework due|
|Week 15||20. Income Inequality and Poverty|
|Week 16||21. The Theory of Consumer Choice|
|Comprehensive Final Exam|