EC202 (EX16) OK - Micro-Economics

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About This Course

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This course has an assignment that is due by 11:55 pm Central Standard Time on Wednesday night of the first week of class. Failure to complete this assignment will result in your removal from the course for non-participation.

Textbooks

Please Note: A print textbook is NOT REQUIRED for this course.  Students must purchase access to Aplia which includes an e-textbook version of Arnold's 12th edition plus online homework assignments custom-designed for the book.  You can use a free trial for two weeks before having to pay.
 
Text: Arnold, Roger A. Microeconomics. 12th edition. Cengage, 2016.
 

Students can purchase Option 1 or Option 2:

Option 1: e-textbook and Aplia access: ISBN 13: 978-1-305-39248-9

Option 2: Loose-leaf version of book and Aplia access: ISBN 13: 978-1-305-61738-4

Online access to Aplia is required for this class.

Aplia is an online website that provides an e-textbook as well as online homework assignments. NOTE: Aplia is NOT “optional:” the Aplia exercises make up 25% of the total course grade. It would be next to impossible to pass the course without Aplia access. Most students find the e-textbook adequate for the course. With the ebook, students can bookmark and print out as much of the textbook as they want. For an extra fee students can order a print copy of the textbook through Aplia.
 
The information needed to sign up for immediate access to Aplia is provided under handouts (on the Resources and Materials page of the course)

Course Description

Following an initial introduction to important general economic concepts, including demand and supply, the course examines the U.S. economy from a microeconomic perspective.  It includes an analysis of (1) the theory of consumer behavior, (2) elasticity, (3) costs and supply, (4) market structure, (5) anti-trust law and regulation, and (6) factor markets. Prerequisite: MA103 (or ACT Math subscore ≥ 22)

Course Objectives

As a result of taking this course, the student will:

  1. develop an understanding of the economic approach to looking at the world, especially the notions of scarcity and opportunity cost and the supply and demand model;
  2. appreciate how a free-market economic system functions, as well as the benefits and problems that may arise under such a system;
  3. apply the tools of economic analysis to a variety of real-world problems and discover the insights they can offer;
  4. learn to think like economists.

This course addresses the following competencies required for beginning business teachers:

  • 5.1: Identify the basic features of economic systems
  • 5.2: Describe the role of competitive markets
  • 5.3: Describe the role of government in the economy
  • 5.5: Explain the function of domestic economic institutions and economic incentives