MICROECONOMICS                                                                                                         IRVINE VALLEY COLLEGE
Martha Stuffler                                                                                                Web Page: http://faculty.ivc.edu/mstuffler
Office B262A, Telephone:  (949) 451-5759                                                                 Office Hours: TTh 11:00 – 12:30 p.m. 
Email:  mstuffler@ivc.edu                                                                                                        and Sat 10:00 – 12:00 a.m.

SYLLABUS AND COURSE OUTLINE

 

Microeconomics studies the behavior of households and business firms; the role of government in a market system; taxation; economic models that include supply and demand, competitive labor markets, international trade, and distinctive market structures. 

 We employ basic mathematics skills and use graphs extensively in this course.  Appendix to Chapter 2 of the textbook, "Graphish The Language of Graphs" contains information to develop your skills.  If you are not familiar with graphs, you will need to practice, learn, and understand this information outside class.

 STUDENT LEARNING OUTCOMES:  Upon completion of this course, you will be able to:

1.  Define the economic problem of scarcity and explain how it relates to the concepts of choice and economizing.

2.  Explain how a price system functions in providing information and incentives and in distributing income.

3.  Describe the interactions of the private and public sectors in the economy.

4.  Use supply and demand model to describe how prices are established in a market system.

5.  Apply marginal analysis to the output decisions of firms in both perfectly competitive and imperfectly competitive markets.

6.  Define and provide examples of externalities, public goods, the distribution of income, and public decision making processes. 

 REQUIRED MATERIALS: 

Microeconomics Resource Guide, 4th edition, new and unused, by Martha Stuffler outlines course lectures, organizes the structure and format of classroom presentations.  Each student must use their own copy of the Resource Guide during each class to record lecture notes, complete problems, perform graphical analysis and participate in problem solving and class discussions.  In addition, the Guide provides hundreds of practice problems and homework assignments. 

A calculator and the Resource Guide must be brought to every lecture. 

The textbook, Microeconomics, David C. Colander, 7^th edition supplements the course lectures, but does not need to be brought to class. The textbook is on reserve in the library. 

Three Scantron Forms No. 882 for each exam.

Access to your IVC email account (or forward your IVC email, my webpage has instructions) and MySite. 

ASSESSMENTS:  Exams are application-oriented and in-depth using multiple choice, short-answer, essay, and graphical analysis based on material covered in lectures and if assigned, outside readings.  Students must complete all parts of the three exams or earn an "F" grade for the course. 

Students must complete all exams on the date and time with the class for which they are registered.  The instructor does not give make-up exams.  If you cannot attend your scheduled exam with advance notice to the instructor, you may take the exam early.  If you miss an exam, since no midterm score may be dropped for grade calculation, you must drop the course or earn an "F". 

                                     Points Possible/Percent

     Midterm 1                        100                25%

     Midterm 2                         100                25%

     Final exam                       100                25%

     Graded Homework           100                25%

                     Total                 400 points = 100%

 

Homework assignments are tear-out sheets in the back of the Resource Guide. They are collected at the beginning of class on the due date.  Late assignments, if accepted, will bear opportunity costs of a decreased point value.  Any assignment not turned in to the instructor during class and later discovered in the instructor's mailbox will be late or may not be accepted.   

No assignments will be accepted for any reason if these assignments have been returned to any class.  Missed assignments may not be made up.

GRADING:  Total possible points for the course are 400: 

A = 360 or more points      (90% or higher)

B = 320 to 359 points        (80% but less than 90%)

C = 280 to 319 points        (70% but less than 80%)

D = 240 to 279 points        (60% but less than 70%)

F < 240 points                   (Less than 60% or for cases

                                              of academic dishonesty)

Academic dishonesty includes turning in work that is not your own; removing test questions or other test material from the classroom; discussing test material with students who have not taken the exam; looking at another student's assignment or test and copying their answers, etc.  Students should read and understand this syllabus and the Student Code of Conduct in the class schedule.

The instructor retains graded materials that have not been returned to students for 90 days after grades have been posted.  If any student wishes to review these materials used for grade determination, the student must contact the instructor before this date.