Microeconomics Principles – Online Course

50:220:102 (3 credits)

Instructor contact information:

Joseph Shinn, Ph.D.
Adjunct Assistant Professor of Economics
Armitage Hall, Room 332
311 North 5th Street
Camden, NJ 08102, USA
Phone: (856) 225-6290
Email: js2398@camden.rutgers.edu (preferred method of contact)

Prerequisites

Basic Algerbra

Required Textbook

Microeconomics Principles, 12th Edition
By: Michael Parkin
Pearson Publishing

Textbook options:

  1. E-Book AND Physical Book
    1. Microeconomics Plus MyEconLab with Pearson e-text—Access Card Package, 12th Edition
    2. ISBN-12:9780134004686
  2. E-Book ONLY
    1. MyEconLab with Pearson e-text – Instant Access – For Microeconomics, 12th Edition
    2. ISBN-13: 9780133917611 

Course Description

This course will cover the area of economics commonly defined as microeconomics that is concerned with the individual parts of the economy such as individual businesses or industries, individual consumers, and individual products. Our goal is to study whether the economy uses our limited resources to obtain the maximum satisfaction possible for society. We will concentrate on three issues or goals: allocative efficiency, productive efficiency, and equity (efficiency, efficiency, and equity).

Learning Objective

Students will use and improve quantitative, written, and oral skills in applying and analyzing basic microeconomic issues and develop a basic understanding of:

  • Economic Systems
  • Supply, Demand, and the Role of the Market
  • Consumer behavior and utility
  • firm behavior, cost, and profit
  • competitive and monopolistic markets for products and inputs
  • Government regulation of the markets

Web Access

This course is administered entirely online. On the Sakai website, you will find all assignments, lectures, assignments, and links to outside work. You are responsible for keeping up with all assignments and asking questions if you have any.  Each week will have a set up assigned readings, lectures, and description of all tasks that must be completed. If any graded material is not completed on time, you will receive a zero for the assignment.

Each week runs from Monday to Sunday and the materials for a given week will only become available 2 weeks before that week starts. However, even if you work ahead, it is important that you check all deadlines because some assignments cannot be completed ahead of schedule (ie discussions and exams).

Course Grades

The Course Grade will be determined by the following:

  • Weekly Homework’s:  0%
  • Weekly Quizzes: 20%
  • Weekly Voice Thread Discussions: 10%
  • Midterm Exam: 30%
  • Cumulative Final Exam: 40% 

Grading Scale:

  • A 90+
  • B+ 85% – 89.99
  • B 80% – 84.99%
  • C+ 75% – 79.99
  • C 70% – 74.99%
  • D 60% – 69.99%
  • F Below 60%

Weekly Quizzes:

Quizzes will be assigned at different points in the semester. These quizzes will be assigned via MyEconLab. STUDENTS ARE RESPONSIBLE GOT GETTING ENROLLED IN MYECONLAB. No lates will be accepted for these assignments. All quizzes will be due by 11:55 PM on the Sunday at the end of the week. It is your responsibility to ensure the quiz was submitted. You MUST complete the quiz in one session. If you open it, you can’t come back to complete it. The lowest two quiz scores will be dropped at the end of the semester.

Weekly Homework’s (ungraded):

For every chapter covered, there will be homework assignments for the students to complete. These homework’s will be assigned via MyEconLab. STUDENTS ARE RESPONSIBLE GOT GETTING ENROLLED IN MYECONLAB. These homework’s, however, are UNGRADED. They are intended to give you additional practice before you take the quiz.

Weekly Discussions:

During most weeks, students will be required to participate in discussions via Voice Thread. Students will be given a topic and be required to post 2 voice or video comments:

  1. By the end of the day Wednesday, each student is to post one original comment on the topic and
  2. By the end of the day Sunday, each student is to post one response to a posts made by another student. BE RESPECTFUL if you disagree with the post you are responding to.

Each post should be roughly 30-60 seconds each and be an original thought.

Your participation in the discussions will be graded based on how well you meet these criteria:

Exceeding Expectations
10 points
  • Post comprehensively addresses the topic, adds value to discussion with stimulating posts
  • Posts in-depth, incisive reflections that demonstrate critical thinking; shares real-world experiences and examples
  • Well-written posts made within required timeframe; no grammar/spelling errors

Meeting Expectations
8-9 points
  • Posts are on-topic, relevant, and contain original content
  • Posts elicit reflections from and/or build on ideas of others; show evidence of knowledge and understanding of content, may include occasional examples
  • Posts use complete sentences and rarely have grammar/spelling errorsonlin

Emerging Towards Expectations
7 points
  • Posts are on-topic, but may lack originality and/or fail to elicit reflections from or build on ideas of others; examples may be made but may be irrelevant or unclear how they connect to course content
  • Posts may contain multiple grammar/spelling errors

Below Expectations
1-6 points
  • Posts do not contain enough reference back to original topic or may not address the issue at hand sufficiently
  • Little evidence of knowledge/understanding of course content is shown; examples missing
  • Posts contain incomplete sentences and/or may not adhere to standard English grammar/spelling

Cannot Judge (Missing)
0 points
  • Student did not complete discussion board question.

 

Exams:

Two exams will be given during the semester: the midterm exam and the final exam. The midterm will be worth 30 points and the final exam will be cumulative with emphasis on the second portion of the class and be worth 40 points.

Exams Policy:

  1. Missing an exam is serious.
  2. Midterm Exam – No make-up exams will be administered if a midterm is missed. Excused absences for the midterm will be granted only for students with acceptable written documentation of hospitalization, etc. Students missing a midterm without a valid documented reason will most likely fail the course. The weight of the midterm in the grade calculation will fall on the final exam if a midterm is missed for an excused reason.
  3. For both exams, you can take them at any point during the assigned week, but there is a three-hour time limit once you begin the exam. After that time, your exam will automatically be submitted. If you have technical issues, email me immediately.
  4. You are welcome to use your book or the internet, but you may not work with ANY other person.

Academic Integrity

The consequences of scholastic dishonesty are very serious. You are responsible for reading and understanding our policy on academic integrity policy, available from the Rutgers Academic Integrity website. Academic integrity means, among other things, that all Rutgers students are required to:

  • properly acknowledge and cite all use of the ideas, results, or words of others
  • properly acknowledge all contributors to a given piece of work
  • make sure that all work submitted as his or her own in a course or other academic activity is produced without the aid of unsanctioned materials or unsanctioned collaboration
  • treat all other students in an ethical manner, respecting their integrity and right to pursue their educational goals without interference. This requires that a student neither facilitate academic dishonesty by others nor obstruct their academic progress

Students with Disabilities

Students who have a diagnosed disability on file with the Office of Disability Services are eligible for accommodations, as specified by the University. Please contact the Office of Disability Services at 856-225-6442 if you need to begin the process of receiving accommodations. Students who do not have a letter of accommodation from the university will not be eligible to receive accommodations in this course.

Course Calendar (Weeks Run Monday to Sunday)

Wk

#

Topic

Assignment

1

Chapter 1:  What is Economics?

Discussion 1

 

2

Chapter 2: The Economic Problem

Quiz 1

Discussion 2

3

Chapter 3:  Demand and Supply

Quiz 2

Discussion 3

4

Chapter 3:  Demand and Supply

Quiz 3

Discussion 4

5

Chapter 4: Elasticity

Quiz 4

Discussion 5

6

Chapter 5: Efficiency and Equity

Chapter 6: Government Actions in Markets

Quiz 5

Discussion 6

7

Chapter 8: Utility and Demand

Quiz 6

Discussion 7

8

Chapter 9: Possibilities, Preferences, and Choices

Quiz 7

Discussion 8

9

Chapter 10: Organizing Production

MIDTERM EXAM

10

Chapter 11: Output and Costs

Quiz 8

Discussion 9

11

Chapter 12: Perfect Competition

 

Quiz 9

Discussion 10

12

Chapter 13: Monopoly

Quiz 10

13

Chapter 14: Monopolistic Competition

Chapter 15: Oligopoly

Quiz 11

Discussion 11

14

Chapter 16: Public Choices and Public Goods

Chapter 17: Externalities and the Environment

Quiz 12

Discussion 12

15

FINAL EXAM

FINAL EXAM