RED DEER COLLEGE DEPARTMENT OF HUMANITIES AND SOCIAL SCIENCES ECON 201 C Introduction to Microeconomics Fall 2014

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1 RED DEER COLLEGE DEPARTMENT OF HUMANITIES AND SOCIAL SCIENCES ECON 201 C Introduction to Microeconomics Fall 2014 Instructor: Naved Ahmad Office: 3102 Phone: naved.ahmad@rdc.ab.ca Class: Section C Time: Mondays/Wednesdays/Fridays: 9:00 a.m. 9:50 a.m. Location: Main Building 2305 Office Hours: Tuesdays and Thursdays: 9:30 a.m. 11:30 a.m., Fridays: 10:00 a.m. 11:30 a.m., or by appointment ACADEMIC CALENDAR ENTRY Terminology, concepts, theory, methods, and limitations of current microeconomic analysis. Analyzing and understanding economics as it relates to individuals and businesses. How political, social, and market forces determine and affect the Canadian economy. Credit will not be granted for both ECON 100 and 201. PREREQUISITES This is a first year introductory business course with no prerequisites. COURSE TOPICS: Topics include but are not restricted to: Market Supply and Demand Perfect Competition Monopolies and Oligopolies Market Failure, Public Goods and Information Asymmetries TRANSFER AGREEMENTS Formal transfer agreements between Red Deer College and other Alberta universities and colleges are found at If you want to transfer this course to an institution not shown on the website, please contact that institution for correct procedures. LEARNING ACTIVITIES Various learning activities will be used to accomplish the course objectives: Readings and listening to lecture provide structure, direction and emphasis of key concepts and themes. Classroom and Online discussion will provide an opportunity for students to respond to the readings and lectures, and to reinforce their comprehension of the concepts involved. ECON 201(C) Course Outline Red Deer College Page 1

2 Assignments, in-class tests, and written exams provide an evaluation on students understanding of course concepts. LEARNING OUTCOMES Upon successfully completing this course, you should be able to Develop an understanding of the economic way of thinking Understand the fundamental theories of the consumer, the firm, and markets Connect the microeconomic analysis to global, social and political contexts ASSESSMENT OF STUDENT PERFORMANCE The final grade in this course will be computed based on the following elements. 1) Attendance, Participation: 10% 2) Six Assignments (5% each): 30% 3) Two Pop Quizzes (5% each) 10% 4) Midterm examination: 25% 5) Final Examination: 25% (As scheduled by the Registrar s office) ATTENDANCE, PARTICIPATION 1) Regular attendance and active class participation are expected from all students. 2) Attendance, participation together account for 10% of your overall grade. If you are shy, you may earn your participation by an active taking part in online discussion. ASSIGNMENTS 1) Each assignment typically consists of several problems on material being studied in class and requires written, graphical and numerical solutions. It may include essay questions. 2) Late assignments receive half credit if submitted before the solutions are released or discussed in class. 3) Unless otherwise noted, all assignments must be typed. Handwritten assignments will not be accepted. POP QUIZZES 1) Pop Quizzes will determine how prepare you are when you come to my class. These quizzes typically consist of several multiple choice and short answer questions on material being studied in class and require written, graphical and numerical solutions. 2) Pop quizzes will be run during the last 10 to 30 minutes of class. The schedule of these quizzes will remain unknown however. 3) There will be no make-up quizzes for students who miss class without a medical certificate, or extra time allowed for students who arrive late. ECON 201(C) Course Outline Red Deer College Page 2

3 EXAMS 1) You will find the exams to be very challenging. They are in-class, closed book exams that use both multiple-choice questions and short-answer problems. A significant number of exam questions will be based on my lectures, the textbook, and the supplemental readings. A nonprogrammable calculator may be used in the examinations. Review sessions for these exams will be held in the class prior to the exams. 2) There will be no make-up exam for the midterm. Students who miss it due to medical reasons will have the midterm exam weight transferred to the final exam. 3) It is assumed that students are aware of the University s policies on Academic Offences and other issues concerning academic integrity. Final letter grades will be assigned from numerical final grades based on the following table: TEXTBOOK A+ 93 B < 80 C < 70 D < 60 A 86 - < 93 B 73 - < 77 C 63 - < 67 D 50 - < 55 A < 86 B < 73 C < 63 F 0 - < 50 Microeconomics (Thirteenth Canadian Edition) By C. McConnell, S. Brue, S. Flynn and T. Barbiero McGraw Hill Ryerson Higher Education The textbook has an Online interactive Study Guide (pin code card access for this can be purchased from the bookstore). Additional material may be made available on the course Blackboard site which can be accessed online through The Loop ( RDC FINAL EXAMINATION POLICY The RDC Final Examination Policy will be followed with respect to Final Examinations. Please review this document to ensure you understand the contents and implications of the policy at: MIDTERM FEEDBACK Midterm feedback for this course will be available from the instructor following marking of the midterm examination. After reviewing their marks to this point, students should make an appointment with the instructor to discuss their progress and concerns. The instructor is also available prior to this in designated office hours if students have any concerns. Please see Important Dates below. ECON 201(C) Course Outline Red Deer College Page 3

4 IMPORTANT DATES September 3 First day of classes for Fall term 2014 September 5 last day to apply for Fall term 2014 September 11 last day to register or add/drop Fall term 2014 or Full year courses September 11 Last day to have tuition refunded for Fall term 2014 or Full year courses October 7 Emergency Response Day Fall Term 2014 October 13 Thanksgiving Day 2014 College Closed October 24 Mid-term feedback date for Fall term 2014 November 10 Final exam schedule posted for Fall term 2014 November 10 College Open, No credit classes November 11 Remembrance Day 2014, College Closed November 12 Credit classes resume Fall term 2014 December 3 Last day to withdraw from Fall term 2014 courses and receive a WD December 3 Last day of classes for Fall term 2014 courses December 8 First day of final exams for Fall term 2014 courses December 13 Last day of final exams for Fall term 2014 courses December 16 Deferred exams written for Fall term 2014 December 19 Last day for submission of final grades for Fall term 2014 courses December 22 Final grades available for Fall term 2014 December 22 Last day of course waitlist for Winter term 2015 December 24 College closes at noon December College closed January 17, 2015 Supplemental exams for Fall term 2014 written ACADEMIC MISCONDUCT Students are expected to respect the standards of intellectual integrity, including, but not limited to, refraining from plagiarism, cheating, or copying someone else s work. Plagiarism consists of using other people s words or ideas without adequately acknowledging the source of those words or ideas. Plagiarism can take many forms: stealing an entire essay and submitting it as one s own work; quoting parts of a source without acknowledging that source; quoting parts of a source without quotation marks (even if the source is listed in the Works Cited list); too few in-text citations compared to the amount of information used; incorrect, incomplete, or missing documentation elements. Penalties for plagiarism can range from a reduction in the assignment grade to expulsion from the college (RDC). - (With thanks to Bill Bunn and Sabrina Reed, Department of English, Mount Royal University.) The complete RDC policy is available at: CHANGES TO THE COURSE OUTLINE The topics of the course are presented below and the dates are tentative. The Instructor reserves the right to modify the topics and the specific dates as required; any changes to the schedule will be communicated by the instructor in a timely way. ECON 201(C) Course Outline Red Deer College Page 4

5 TENTATIVE COURSE SCHEDULE Date Outline of Topics Chapter September 3, 5, 8 Introduction Chapter 1 Limits, Alternatives, and Choices September 10, 12, 15 The Market System and The Circular Flow Chapters 1, 2 Assignment 1 (Chapters 1, 2) Due date: (September 22) September 17, 19, 22 Demand, Supply and Market Equilibrium Chapter 3, Appendix to Chapter 3 September 24, 26 Elasticity and its application Chapter 4 Assignment 2 (Chapters 3, 4) Due date: (October 6) September 29 Consumer Choice and Utility Maximization Chapter 6, Appendix to Chapter 6 October 1, 3 October 6, 8, 10 The firm and the Costs of Production Chapter 7 Assignment 3 (Chapters 6, 7) Due date: (October 22) October 13, 2014 Thanksgiving Day College closed October 15, 17, 20 Perfect Competition in the Short Run Chapter 8 Revision October 22 Midterm Exam October 24, 27, 29 Perfect Competition in the Long Run Chapter 9 Assignment 4 (Chapters 8, 9) Due date: (November 5) October 31 Monopoly Chapter 10 November 3, 5 November 7, 10, 12 Monopolistic Competition and Oligopoly Chapter 11 Assignment 5 (Chapters 10, 11) (Due date: November 19) November 14, 17, 19 The Demand for Factors of Production; Chapters 13 and 14 Wage Determination November 21, 24, 26 Market Failures: Public Goods and Chapter 5 Externalities Assignment 6 (Chapters 13,14, and 5) Due date: (December 3) November 28 December 1, 3 Revision ADDITIONAL INFORMATION Students need not receive a passing grade on all components of term work and examinations in order to pass the course. However, failure to submit an assignment or write an examination, without the prior approval of the instructor, may result in an F grade for the course. Classroom learning resources may be available to students in alternative formats. ECON 201(C) Course Outline Red Deer College Page 5

6 Students should be aware that Personal Counseling, Career, Learning and Disability Services are provided by RDC. Inquire about locations at Information Desk. It is the student s responsibility to discuss their specific learning needs with the appropriate service provider. RDC offers several learning support services: course-based peer tutoring, the Math Learning Centre, the Writing Skills Centre, and help with general learning strategies (e.g., time management, study skills, exam preparation and writing). RDC also offers services for students with disabilities. To access any of these services, visit the Learning Support desk in the Library, call (403) , or either help_learn@rdc.ab.ca or disabilityservices@rdc.ab.ca It is the student s responsibility to be familiar with the information contained in the Course Outline and to clarify any areas of concern with the instructor. Students should refer to the Student Dispute, Appeal and Misconduct Processes Policy and Standard Practice should questions or concerns about the Course Outline not be resolved directly with the instructor. Tim Heath, PhD Associate Dean, School of Arts & Science Approved 28 August 2014 ECON 201(C) Course Outline Red Deer College Page 6