Economics 2010

Online Micro Economics Class

 

Course Description:  

Economics deals with a smorgasbord of timely issues. For example we will examine the following: Consumer demand or how consumers operate in the market place and later the supply or methods firms employ towards efficient resource allocation. Afterwards, we will examine the Market structure of US capitalism, which include demand, supply curves and elasticity of both. Then, we will review a new concept called the production function or how goods are produced by the firm plus the production costs to produce goods and services.

Next we will review the four firm types which are pure competition, pure monopoly, monopolistic competition, oligopoly, and monopoly. We will examine how firms operate within one of these four criteria and it efficiency in the market place and we will discuss the role of the US Justice Department and their concerns over firms and the monopolization process. Furthermore, we will deal with concepts such as wage determination, pricing of resources and general price equilibrium level. International economics is also discussed using Ricardo’s comparative advantage theories. We will also examine domestic issues such as the titanic rising costs of medical care, so you can gain your own opinion as to why and how this continuous growing burden can be contained.

Course Objectives:  

Upon successful completion of this course, the student will be able to:

 Goals of the Course:

1.      Learn the philosophies of Smith, Ricardo and Marshall propagated who are the founding fathers of economics.

2.      Learn how to decode graphs and economic current events in periodicals.

3.      Develop an understanding how markets operate in the US.

4.      Develop an understanding of how customers decide in the market place.

5.      You will know how to analyze economic current events and how they affect your life.

6.      Understand how scarcity, opportunity costs, and private property rights affect both personal and corporate decision making.

7.      Comprehend why specialization and trade work best in both an individual as well as in a global economy.

8.      Develop strategies as to how different firms operate in the industry.

9.      Discuss how a firm understanding elasticity’s for their products are better able to use this knowledge with their business strategies.

10.  Equip business managers with economic language and tools they can use in their businesses to solve business problems.

11.  Understand the foundation of accounting costs and marketing strategies.

12.  Discuss how US Anti-Trust practices deter monopolization of industries.

13.  Develop an understanding as to how labor and wages operate. Also how having more education increases a person’s Income. Also, we will study how Income and Poverty levels are distributed within the United States.

14.  Learn why medical costs keep rising and how it will affect your future.

15.   

At the conclusion of the class the student will be able to explain the basic concepts of microeconomics. The student will progress from the basics to more complex micro economic concepts.  

Instructor:
Dr. Steve McQueen Ph. D. M.B.A.
smcqueen@charter.net
435-673-2456

Text, Author, Publisher:  

Text: Microeconomics McConnell and Brue 16th Edition. Authors: Campbell R. McConnell, Stanley L. Bruce.  There is an optional study guide if you would like. 

 

Course Objectives:  

Upon successful completion of this course, the student will be able to:

1. To help the beginning economic student comprehend the principles essential for understanding the basic economizing problem, specific economic issues, and government policy alternatives.

2. To help the student understand and apply the economic perspective and to reason accurately and objectively about economic matters.

3. To promote a lasting student interest in economics and the economy and the political institutions of change.

There are four hundred-fifty (450) points possible for this course. Grades will be computed by taking the number of points that have been earned and dividing them by the number of points possible during the quarter. Here is how the 450 points are divided.

 Grade Computation:  

There are four hundred-fifty (450) points possible for this course.

Discussions   15x5 = 75

Assignments 15x5 = 75

Practicum     15x5 = 75

5 Tests                      125

Final                         100

Total Points             450 

BONUS PAPER:

In case you don’t do well on your Mid-Term grade I am offering you a way out. I am allowing you to send me a Bonus Paper for extra credit. Here is how this Bonus Paper works: You must turn in a term paper before the end of the term. It consists of 7 single spaced pages and has 4 references of your choice. You may write on an economist i.e. Adam Smith or an economic subject, i.e. Monopolies. This paper is out of 20 points which could bring up your grade 6%. You do the math 20/350 = 6%. If you have 84% it could bring your grade up to 90% or by completing the paper potentially your grade could progress from a B into an A or a C to a B.

Computer needs:  Review the computer specifications web page, and make sure you update your multimedia drivers and check your web browser.

ACCESSING THIS ONLINE COURSE:  To access ECON 2010 or other online courses on WebCT, please complete the following steps:
        1.       Go online to http://www.dixie.edu/online/vista/ - this is the WebCT entry page. 
        2.       You must now formulate your WebCT ID and password. Go to the WebCT entry page and click on What is your WebCT ID/Password?  
        3.       Finally, you can log on, click on Log on to WebCT  (WebCT ID and passwords will NOT be active until the beginning of the semester)

 Log on to WebCT Vista