NEW MEXICO JUNIOR COLLEGE
Principles of Economics (Micro)
|A.||Course Title:||Principles of Economics (Micro)|
|B.||Course Number:||EC 223 - 30379|
|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
Mindtap access code for Principles of Eonomics, 8th ed.
N. Gregory Mankiw
Note: the Mindtap access code comes with an electronic copy of the book.
You can buy your books online at the NMJC Bookstore.
Students attending New Mexico Junior College will be evaluated according to the following grading scale:
90 - 100% = A 80 - 89% = B 70 - 79% = C 60 - 69% = D 0 - 59% = FGrading Policy - Principles of Economics
|Problem Sets (Minetap/Aplia assignments)||
|Essay (Two Position Papers)||
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:
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.
I. New Student Orientation Video Transcript
II. Basic Computer Skills: How to use an email account, how to attach, upload, and download files. How to view, save, rename, and print files. Have basic word processing skills and are familiar with using different web browsers
III. Canvas Technical Requirements
IV. Technology Requirements for Students: A Desktop or Laptop that is no more than five years old, has at least Windows 7 or MAC OSX 10.6 with 1 GB of memory, 2.4 GHz Processor, has a webcam and a microphone. The Internet speed is between 5 to 10 Mbps per second.
V. Technical and Academic Support
Call the 24/7 Canvas Help Desk at (575) 399-2199 for assistance and have your course CRN (ex. 10023) and your Username available.
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.
The instructor will respond to student e-mail by the end of the next business day.
As a three credit hour course in an eight week format, students are expected to spend 12-18 hours per week reading, studying, and completing assignments for this course.
The Mindtap access code required for this class includes and electronic copy of the textbook.
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 firstname.lastname@example.org.
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.
If you experience difficulty with Canvas you may reach the Canvas Helpdesk at email@example.com, 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.
Free tutoring services are available to all NMJC students through Brainfuse or the Academic Success Center. Brainfuse is an online tutoring service that can be accessed from your course navigation menu in Canvas and there is no need to create an account. The Academic Success Center is located at the Pannell Library on the 1st floor.
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 www.nmjc.edu, or submitting the required paperwork to the Registrar’s Office by 5:00 p.m. on Tuesday, November 19, 2019. 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 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|
|Week 5||6. Supply, Demand, and Governement Policies|
|Exam One 9/23/19-9/25/19 (Chapters 1-6)|
|Week 6||7. Consumers, Producers, and the Efficiency of Markets|
|Week 7||8. Applications: The Costs of Taxation|
|9. Application: International Trade|
|Week 8||10. Externalities|
|Week 9||11. Public Goods and Common Resources|
|Week 10||12. The Design of the Tax System|
|Position Paper 1 Due 10/21/19|
|Exam Two 10/28/19-10/30/19 (Chapters 7-12)|
|Week 11||13. The Costs of Production|
|Week 12||14. Firms in Competitive Markets|
|Week 13||16. Monopolistic Competition|
|Week 14||17. Oligopoly|
|Exam Three 11/25/18-11/27/18 (Chapters 13-17)|
|Week 15||18. The Markets for the Factors of Production|
|19. Earnings and Discrimination|
|Week 16||20. Income Inequality and Poverty|
|21. The Theory of Consumer Choice|
|Position Paper 2 Due 12/02/19|
|Comprehensive Final Exam 12/9/19-12/11/19|