Mrs. Lea
Templer
Office: HSH-333
Ph: 661-362-3375 Email: lea.templer@canyons.edu Office hours: M-W 1-3 T-Th 1-3 Or by Appointment |
ECONOMICS 202
This course covers the basic
concepts of economics emphasizing micro-analysis including supply and demand,
the competitive firm, monopoly, monopolistic competition, oligopoly, and the
labor market.
Student
Learning Outcome: Compare and
contrast the decision making processes of the product and resource markets
under different levels of competition.
·
TEXT: Custom Edition: COC’s ECONOMICS,
9th Edition by Roger Arnold
·
Textbook Website: http://www.cengagebrain.com
Search for the textbook in the
website
·
Supplies: 3 #886
Scantrons – 1 #882 Scantron
·
STUDENT EVALUATION:
Final
Exam
100
Current
Event 5
Homework Quizzes (10 points each) 0 to 100
Extra
Credit (optional) 0 to 25
* The lowest exam score will be dropped.
But, you must take the final exam. If you miss an exam, then you have self
selected the exam that you drop. Exams
will not be individually rescheduled. There will be no make up exams.
The final exam is required of everyone.
·
GRADE EARNED:
A -
90% B - 80% C
- 70% D
- 60%
·
EXAMS:
·
HOMEWORK QUIZZES:
·
Homework quizzes, will be given on the day that the homework assignment
is due. Homework assignments are listed in the schedule at the end of the
syllabus.
·
The lowest two grades will be dropped.
·
Each quiz is worth 10 points – no make ups.
·
ATTENDANCE - Attendance is taken every
day. After more than four
absences, the student may be dropped from the class before the drop deadline.
·
CHEATING - Any
student caught cheating on an exam receives a fail for the assignment.
No exceptions. It is not fair to those students who do their own work! See page
5 of the Syllabus.
·
DROP DATE - It is the student's
responsibility to drop a class before March 30th, otherwise it will lead to a failing
grade for the class. It is the student’s responsibility to drop the class. The
instructor has no way to know whether the student is ill or has dropped the
class.
·
ADD DEADLINE - The last day to add a class
is February 21st.
·
CURRENT EVENT/EXTRA CREDIT - Find an article in the
newspaper or magazine and analyze it as it relates to class
discussion. Your analysis should
contain a summary of the article (no more than a few
sentences), and an economic analysis as it pertains to the course material.
Do not include an article that is merely financial news.
·
Each current event should be about one page long.
·
Each article should be turned in within a few weeks of the publishing
date.
·
Include a copy of the article or if possible the original
article.
·
Each article will earn up to 5 points for its analysis.
·
No more than 5 articles may be submitted for extra credit.
·
No more than 2 articles can be turned in on a given week.
·
The analysis should be typed or clearly written.
·
Note: The first analysis is required of everyone, and then you may
proceed to do 5 extra credit.
·
The last day to turn in current event or
extra credit is May 18th.
Honors Project – 100 Points
·
Pick
an industry that is currently in the news – research this industry and the
firms in the industry by February 21st
·
What
economic model does this industry fit under?
·
How
do the firms determine what to produce? How much to produce? What prices and/or
fees to charge?
·
Have
there been mergers in this industry? Domestic or international?
·
Are
there government (Local, State or Federal) mandates, regulations or regulatory
body for this industry?
·
Are
they profitable? Struggling? Doing OK?
·
You
will need to keep track of your sources for the written paper. Footnotes and
bibliography are required.
·
You
can attend either an MLA or APA workshop available at the TLC to learn more
about referencing – 10 bonus points
·
You
will need to turn in an outline by March 6th
·
Due
date of paper: May 22nd
APPROXIMATE
SCHEDULE
|
DATE |
TOPIC |
|
HOMEWORK |
Feb 7-9
|
Introduction
Supply and Demand: Theory
Supply and Demand:
Practice |
Ch3
Ch 4 |
Ch3-Q-1,4,6,8,11,15,27,29
Ch4-Q-1,11,13,15 |
Feb 14-16
|
International Trade
|
Ch 30 |
Ch30-Q-2,3,4,6,7,8 W-1,2 |
|
Feb 21-23 |
Elasticity Project topic due |
Ch 17 |
|
Feb 28-Mar 1
|
Elasticity
|
Ch 17
|
Ch17-Q-2,3,5,6,8,9,11 W-1,2,3,4,5 |
Mar 6-8
|
Consumer Choice: Maximizing utility And Behavioral Economics Project outline due |
Ch 18 |
Ch18-Q-2,3,4,5,7 W-1,2,3,4,5 |
|
|
Exam #1 – Ch 3-4,17-18,30 |
|
|
Mar 13-15
|
Production and Costs |
Ch 19
|
|
Mar 20-22
|
Production and Costs
|
Ch 19
|
Ch19-Q-5,7,8,10,12,15
W-1,3,4,7 |
Mar 27-29
|
Perfect Competition
|
Ch 20
|
|
April 3-5
|
Spring Break
|
|
|
April 10-12
|
Perfect
Competition |
Ch 20
|
Ch20-Q-3,4,6,7,12,14,15,16 W-1,2,3,6,8 |
|
|
Exam #2 – Ch 19-20 |
|
|
April 17-19
|
Monopoly |
Ch 21
|
Ch21-Q1,2,3,5,10,12,13,14 W-3,4,5,6 |
|
April 24-26 |
Monopolistic Competition, Oligopoly and Game Theory |
Ch 22
|
|
May 1-3
|
Oligopoly
|
Ch
22
|
Ch22-Q-1,3,5,6,9,13 W-5,6 |
|
May 8-10 |
Government
and Product Markets: Antitrust and Regulation |
Ch
23 |
Ch 23-Q-2,4,6,7,12
W-2,3,4 |
|
|
Exam #3 – Ch 21-23 |
|
|
|
May 15-17 |
Factor Markets: With Emphasis on
the Labor Market |
Ch 24 |
Ch24-Q-2,3,6,7,8,9,10 W-1,2,5 |
|
May 22-24 |
Wages,
Unions and Labor Interest,
Rent and Profit Project
paper due |
Ch 25 Ch 27 |
Ch 25-Q-2,4,5,7,9
W-1,2,3 |
|
May 31 |
Final Exam – Ch 3-4,17-25,27,30 |
|
|
COC
Statement and Policy on Academic Integrity and Plagiarism
Approved
by Academic Senate in May, 2010
Statement on
Academic Integrity at College of the Canyons
Students are expected to do their own
work as assigned. At College of the Canyons, we believe that academic integrity
and honesty are some of the most important qualities college students need to
develop and maintain. To facilitate a culture of academic integrity, College of
the Canyons has defined plagiarism and academic dishonesty. Due process
procedures have been established when plagiarism or academic dishonesty is
suspected.
At COC, we define plagiarism as follows: Plagiarism is the submission of someone
else’s work or ideas as one’s own, without adequate attribution. When a student
submits work for a class assignment that includes the words, ideas or data of
others, without acknowledging the source of the information through complete,
accurate, and specific references, plagiarism is involved. This may include
dual submissions of a similar work for credit for more than one class, without
the current instructor’s knowledge and approval.
To be specific, below are some of the
situations that will be considered plagiarism at COC:
·
Use
information from any source, online or in print, in one’s own writing without acknowledging the source in the
content and in the reference page of the assignment;
·
Simply
list the sources in the reference page, without parenthetical citations in the
body of the essay;
·
Take
more than one printed line of words consecutively from the source without
putting quotation marks around them, even though the student has put the
author’s name in the parentheses or in the reference page;
·
Turn
in work done for other classes, regardless how big or small the assignment may
be, without the current instructor’s approval—this is considered
“self-plagiarism,” which is a form of academic dishonesty; or,
·
Turn
in work by another student, even by accident.
In addition, COC has strict rules
against using electronic devices during exams without the instructor’s
approval. To be specific, absolutely no cell phones or any electronic devices
can be on the desk or in sight during test or exam without the instructor’s
approval. The presence of electronic devices in sight during exams may be
considered as intention to cheat and will be processed as a form of academic
dishonesty.
Cases of alleged academic dishonesty,
such as plagiarism or cheating, will be referred to the Dean of Student
Services for investigation. See your syllabus for course specific policies,
rules, and guidelines on plagiarism and academic dishonesty.
|
PRICE |
QUANTITY |
NATURE OF PRODUCT |
ELASTICITY OF DEMAND |
NUMBER OF FIRMS |
BARRIERS TO ENTRY |
LR PROFIT/LOSS |
|
|
PRODUCT MARKET |
|||||||
|
PERFECT COMPETITION |
P = MR |
MR=MC -> Q |
Homogeneous |
Perfectly elastic D |
Many small firms |
None |
no Econ Profit/Loss |
|
MONOPOLY |
P > MR |
MR=MC -> Q |
One |
Inelastic D |
One firm |
High (Patents/License) |
Economic Profit/Loss |
|
MONOPOLISTIC COMPETITION |
P > MR |
MR = MC -> Q |
Appears to be different |
Elastic D |
Many small firms |
Low |
No Econ Profit/Loss |
|
OLIGOPOLY |
P > MR |
MR = MR -> Q |
Homogeneous - may be differentiated |
Depends on model |
Few large firms |
High (Economies of
Scale) |
Economic Profit/Loss |
|
NATURAL MONOPOLY |
One |
||||||
|
Unregulated |
P > MR |
MR=MC -> Q |
Inelastic D |
One firm |
High (patents/license -
economies of scale) |
Economic Profit/Loss |
|
|
Regulated |
Depends
on the Regulations |
Depends on the
Regulations |
Inelastic D |
One Firm |
High (patents/license -
economies of scale) |
No Economic Profit/Loss |
|
|
RESOURCE MARKET |
|||||||
|
COMPETITIVE |
W = MRP = D |
MRP = MFC ->Q |
Depends on Product
Market |
Many firms hiring |
None |
||
|
MONOPSONY |
W = MRP = D |
MRP = MFC->Q |
MFC > S |
One firm hiring |
One firm hiring |