MASTER COURSE OUTLINEDEPT:ECO
Big Bend Community CollegeNO: 202
Date: September 2002
COURSE TITLE: Micro Economics
CIP Code: 45.0601CREDITS: 5
Intent Code: 11Total Contact Hours Per Qtr: 55
SIS Code: N/ALecture Hours Per Qtr: 55
Lab Hours Per Qtr:
Distribution Desig.: Social ScienceOther Hours Per Qtr:
PREPARED BY: Gene Donat
COURSE DESCRIPTION: Study of the micro economy of an individual firm or industry. Output and price of a specific product, numbers of workers, revenue, and expenses of a business are the focus. Strongly recommend placement in MPC 095 or higher and placement in ENG 099 or higher.
PREREQUISITE(S):
TEXT: Micro Economics (15th edition) by McConnell/Brue and study guide
COURSE GOALS:
To assist students in "seeing the trees and not just the forest." Develop an inquiring mind to ask why something happened and what might happen in the future. Understand fundamental economics and implications of policy alternatives in dealing with economic problems.
COURSE OBJECTIVES:
Upon successful completion of the course, the student will be able to:
--think in a more objective and logical manner when dealing with issues that deal with issues of a particular industry, firm, or household.
--read and comprehend current publications dealing with revenues, costs, environmental issues, and other factors that impact businesses and society.
--correctly use the terminology of economics.
COURSE CONTENT OUTLINE:
I.Introduction to Economics and the Economy
A.Nature and Method of Economics
B.Economizing Problem
C.Pure Capitalism and the Circular Flow
D.Individual Markets: Demand and Supply
E.Private Sectors and the Market System
F.Public Sector
II.Microeconomics of Product and Resource Markets
A.Demand and Supply: Elasticities and Applications
B.Consumer Behavior and Utility Maximization
C.Costs of Production
D.Price and Output Determination: Pure Competition
E.Price and Output Determination: Pure Monopoly
F.Price and Output Determination: Monopolistic Competition
G.Price and Output Determination: Oligopoly
H.Production and the Demand for Resources
I.Pricing and Employment of Resources: Wage Determination
J.Pricing and Employment of Resources: Rent, Interest, and Profits
K.General Equilibrium: Market System and Its Operation
III.Government and Current Economic Problems
A.Government and Market Failure: Public Goods, the Environment, and Information Problems
B.Public Choice Theory and Taxation
C.Antitrust and Regulation
D.Agriculture: Economics and Policy
E.Income Inequality and Poverty
F.Labor Market Issues: Unionism, Discrimination, and Immigration
IV.International Economics and the World Economy
A.International Trade: Comparative Advantage and Protectionism
B.Exchange Rates, the Balance of Payments, and Trade Deficits
C.The Soviet Economy in Transition
EVALUATION METHODS/GRADING PROCEDURES:
Four objective/essay tests (100 points each, one comprehensive final exam (100 points), unannounced quizzes (10 points each), written summary of current economic periodical pertaining to microeconomic (25 points), out of class written chapter assignments (7 points each).
PLANNED TEACHING METHODS/LEARNING STRATEGIES:
X Lecture X Small Group Discussion X Special Project
Laboratory X Audiovisual Other (List)
Supervised Clinical Individualized Instruction
Division Chair Approval