William Rainey Harper College

ECO 211 Microeconomics: An Introduction to Economic Efficiency

Spring 2018

ECO 211-002 and ECO 211-005

Home ~/~ Syllabus ~/~ Schedule ~/~ Lessons ~/~ Papers~/~ Mic Web App ~/~ Web Quizzes ~/~ Flashcards ~/~ Video Lecture Notes ~/~ Blackboard ~/~ Practice Exercises ~/~ Textbook Website

GET AHEAD !

BASIC INFORMATION

TWO SECTIONS

These web pages will be used by three different class sections:

INSTRUCTOR

COURSE DESCRIPTION

This course will cover the area of economics commonly defined as microeconomics which 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.

Microeconomic Issues:

  • efficiency
  • efficiency
  • equity
 

MATHEMATICS SKILLS

This course requires students to have basic skills in mathematics, including the use of graphs. If your math skills are weak you should consider building them before taking this course. If you are required to take MTH 060 or MTH 082 and have not yet done so, do not take this economics course until you have successfully completed it. We will take a math quiz the first day of class. If your math skills are weak, drop this course now.

COURSE STRUCTURE

In recent years nearly 40% of students who have enrolled in an ECO 211 course at Harper College (all sections, all instructors) have not successfully completed the course. This means that 40% either dropped the course or received a grade of D or F. This is unacceptable. We need to do something different to improve the success rate.

I plan to do the following:

The basic structure then will be:

As you can see you will need to:

(1) Come to class prepared. BEFORE EACH DAY OF CLASS you must (a) watch the video lectures, (b) read the textbook, and (c) compete the prequiz.
(2) Attend class regularly, and
(3) Do out-of-class review activities. Begin with the Yellow Pages and Required Activities (see below). There are also other
Practice Exercises to help you learn the material.
(4) Experience has taught me that the 40% who do not pass the class do not read the assigned readings in the textbook and/or do not watch the assigned videos. If you usually do not do all of the assigned readings and videos in a class then you should seriously consider dropping this class now.

SUPPLEMENTAL INSTRUCTION (SI)

"Supplemental Instruction (SI) Leaders" have been employed to assist you in this course. The SI leaders will conduct study sessions during the week. Students are strongly encouraged to attend these SI study sessions and seek the assistance of the SI leader. More information will be distributed in class and posted on our Blackboard site.

Supplemental Instruction is a series of weekly study sessions for students taking historically difficult courses. SI is provided for all students who want to improve their understanding of course material and improve their grades.

Attendance is voluntary. It is a chance to get together with people in your class to compare notes, discuss important concepts, to develop strategies for studying the subject, and to test yourself before your instructor does, so you will be ready. At each session, you will work with your SI leader, a competent student who has previously taken the course.

If you attend the sessions regularly, chances are you will earn a better grade. You will have developed a better understanding of course content as well as more effective ways of studying. This will help you in other classes, too.

SI times will be announced in class and posted on our Blackboard site.

COURSE MATERIALS

BRIEF LIST:

REQUIRED:

 

Microeconomics, by McConnell, Brue, and Flynn, 19th edition, McGraw-Hill, 2011
Just the textbook. No textbook access codes. No "Connect". NOTE: be sure to get the 19th edition even though there is a 20th edition available

REQUIRED:

 

Tomlinson Videos on ThinkWell

BUYING the Tomlinson Videos on ThinkWell

  • Go to: http://www.thinkwell.com
  • Click on "Register" in the upper right corner
  • In the "Classroom and Distance Learning" area use the pull-down menu to select your state: "Illinois"
  • Use the pull-down menu to select your school: "Harper College"
  • Use the pull-down menu to select your class: "Economics 2016-2017 School Year"
  • Click on
  • Then click on Checkout to purchase. The price is $49.
  • Follow the instructions to enter the required fields.
  • Next time you go to Thinkwell.com click on the "Sign In" button to enter your username and Password.

USING the Tomlinson Videos on Thinkwell:

  • VIDEO LOGIN is a link to sign into the Tomlinson video lectures that you must purchase online. Assigned video lectures are listed on the LESSONS page with a numbering system that looks like: 1.1.1, 1.1-2, 2.1.1, etc.
  • Once you log in to the Thinkwell class site click on the "Chapter Checklist" link for a list of the videos by their number.
  • Note that each video can be watched FULL SCREEN.
  • Also, for each video you will have access to a "Thinkwell Excercise" of from six to fifteen multiple choice review questions, as well as Video Transcripts. The exercises are quite useful.
  • Finally, you will want to have the VIDEO NOTES handy when you are watching the videos

REQUIRED:

 

The Yellow Pages are packet of worksheets We will do most of the graphing exercises in class and some of the Quick Quizzes. You will not get points for doing them, but I think you will find them very useful while you prepare for the quizzes and exams.

The Yellow Pages will be distributed, for free, in class. They are also available on our Blackboard site. The ANSWERS to all Yellow Pages can also be found on our Blackboard site.

VERY USEFUL:

 

MIC WEB APP:

The MicWebApp has all of the information found on our LESSONS page.

How to put an icon to the app on the homescreen of your mobile device:

  • On your cell phone or tablet go to the MicWebApp home page (http://www.harpercollege.edu/mhealy/eco211f/micwebapp/micwebapp.htm).
  • Android: Launch Chrome for Android and open the website or web page you want to pin to your home screen. Tap the menu button and tap Add to homescreen. You’ll be able to enter a name for the shortcut and then Chrome will add it to your home screen.
  • iPhone, iPad, & iPod Touch: Launch the Safari browser on Apple’s iOS and navigate to the website or web page you want to add to your home screen. Tap the Share button on the browser’s toolbar — that’s the rectangle with an arrow pointing upward. It’s on the bar at the top of the screen on an iPad, and on the bar at the bottom of the screen on an iPhone or iPod Touch. Tap the Add to Home Screen icon in the Share menu.

The app is not designed to replace your textbook, computer, or paper and pencil. To learn the class material you will have to read the textbook, watch the Tomlinson video lectures, and DO PROBLEMS. When doing problems you will need to use pencil and paper.

The app is designed to allow you to to do a quick review after you have studied the material.

The app is organized according our twenty-five lessons. For each lesson you will usually find a quick introduction, an interesting topic, the reading and video assignments, key term flashcards, a quick review quiz, key graphs, and YouTube review videos.

Be sure to put an icon to the app on your mobile devices !!!

RECOMMENDED:

Online or Paperback:

 

Study Guide For Microeconomics, McConnell/Brue/Walstad, 19th edition, McGraw-Hill, 2012

  • ISBN 9780077338008
  • ONLINE STUDY GUIDE
    The Study Guide is available in an online version for only $15:
  • A PRINTED STUDY GUIDE can be bought online for less than $15

BLACKBOARD, WEBSITES, E-MAIL

BLACKBOARD

All students in ECO 211-002 and ECO 211-005 will use the same Blackboard site: "ECO211 002 005 - MICROECONOMICS (Spring 2018)"

All students must log-in to our Blackboard website, study the syllabus, and take the required 5-point, online, "Syllabus Quiz" (see schedule ). The syllabus quiz may be taken as many times as necessary and only the highest score will be counted.

Blackboard Instructions:

Some Links on Blackboard:

BEFORE CLASS
  • LESSONS: This is where you see what you have to do for each day of class. This link has the exact video lectures and reading assignments that are to be completed each day before class. Remember: GET AHEAD!
  • VIDEO NOTES has your instructor's notes that he took when he watched the videos. The video lecture notes lists the important concepts in the video, compares the vocabulary used in the videos with the vocabulary used in the textbook and exams, and adds some material..
  • VIDEO LOGIN is a link to the Tomlinson video lectures that you must purchase online. Assigned video lectures are listed on the LESSONS page with a numbering system that looks like: 1.1.1, 1.1-2, 2.1.1, etc. (Once you log in to the Thinkwell class site click on the "Chapter Checklist" link for a list of the videos by their number.)
  • PRE-QUIZ. A ten-question quiz must be taken before class each day. Some pre-quizzes can be retaken as many times as is necessary, others can only be retaken twice.

DURING CLASS

  • YELLOW PAGES: Blank Yellow Pages and the ANSWERS are available online
  • LECTURE OUTLINES
  • CLICKER QUIZZES: the Clicker Quizzes used in class will be available on Blackboard after the chapter is completed

AFTER CLASS

  • REQUIRED ACTIVITIES: This is where you access the Required Activity quizzes that must be taken after every chapter.
  • PRACTICE EXERCISES lists the optional review activities that students should be doing to prepare for the exams including Study Guide problems, textbook end-of-chapter questions, and textbook website activities. Answers are provided for all of the practice activities.
  • TEXTBOOK SOLUTIONS has the answers to the textbook end-of-chapter questions practice activities. See the PRACTICE EXERCISES for which textbook problems you should be able to do.

Blackboard Discussion Board

E-MAIL

Option to Forward Mail from your Harper E-mail Account

You should always use your Harper email account when e-mailing your instructor. All e-mails from harper will be sent to your Harper e-mail account. If you do not check your Harper e-mail account often, you can find instructions on how to forward e-mail from that account to one you check frequently by logging in to the Harper Student Portal and clicking on the "My Harper E-Mail" tab. All correspondence in this class will be sent to your Harper E-mail account.

When E-mailing your instructor always put "ECO 211", your section number, and a message in the subject line. Please use proper spelling, punctuation, and grammar.

TEXTBOOK WEBSITE

Click on TEXTBOOK WEBSITE, then select a chapter from the "Choose One" drop-down menu.

 

GRADING

The final grade for the class will be awarded according to the following point system. Changes may be made to this grading policy. All changes will be announced in class, posted on the class Blackboard page, and an email will be sent to all students.

Activity

Number

Total Points

Approximate % of total points

Syllabus quiz

1 @ 5 points =

5

1 %

Prequizzes

25 @ 2 points each =

50

15 %

Required Activities

16 @ 1 points each =

16

5 %

Papers

4 @ 10 points each =

40

12%

Comprehensive Unit exams*

Unit 1: 40 points =
Unit 2: 45 points
Unit 3: 50 points

135

42%

Comprehensive Final Exam

1 @ 80 points each =

80

25%

TOTAL:

326

The syllabus quiz, prequizzes, required activities, and unit exams can be retaken or re-written. See below for details.
* Each of the three unit exams will also have an extra credit essay question worth about 3 points

Letter grades will be awarded as follows:
100-90%=A, 89-80%=B, 79-70%=C, 69-60%=D, below 60%=F

Syllabus Quiz (5 points): The syllabus quiz will be taken online via our class Blackboard site. It can be taken as many times as you wish. Only the highest score will count.

Prequizzes (2 points each day of class): BEFORE CLASS a short quiz must be taken that will cover the material in the assigned video lectures and textbook readings. Some prequizzes can be taken multiple times, some can only be taken twice. All prequizzes must be finished by 7:30 the morning of the lesson. After that they will no longer be available. Once you have completed a prequiz and when it is no longer available you can still access your results by going to MY GRADES on Blackboard and clicking on your score. This could be helpful when studying for exams.

Required Activities (1 point for each chapter): The "Required Activities" are to be taken on Blackboard after we have competed each chapter. They usually consist of about 20 multiple choice questions. They can be taken as many times as you wish and only the highest score will count. Required activities for each unit should be finished BEFORE the unit exam. In order to be allowed to take a unit exam retake (see below), you must have finished all the unit's required activities BEFORE the unit exam.

Papers (Four papers at 10 points each) Papers can be rewritten for full credit with the following restrictions:

  1. original papers must be turned in by the due date to earn the chance to be rewritten. Papers turned in late cannot be rewritten. Please note that papers are either graded as an "1, 2, or 3" or an "10". You either get an "F" or an "A", so the chance to rewrite the paper is important.
  2. before writing any rewrite after the first, you must see the instructor or the Supplemental Instruction leader for assistance. Your first rewrite must be signed by the instructor or the SI leader before you hand in your second rewrite.
  3. No rewrites or papers can be handed in later than the 6th class period from the date the original is handed back (usually 7 classperiods from the paper due date). All paper due dates can be found on our class schedule.
  4. For more information see papers

Comprehensive Unit Exams (135 points): There will be three in-class unit exams. The unit 1 exam will consist of 40 multiple choice questions and a three point extra credit essay question. The exam for unit 2 will have 45 questions (40 from unit 2 and 5 from unit 1) and a three point extra credit question. The exam for unit 3 will have 50 questions (40 from unit 3 and 10 from units 1 and 2) and a three point extra credit essay question.

The exams are NOT open book, NOT open notes, and you can NOT bring in a sheet of notes or formulas.

Comprehensive Retake Exams The unit exams will have an OPTIONAL RETAKE EXAM for those who want to study harder and improve their grades. In order to be allowed to take the retake, you must have finished all the unit's Required Activities (see link on Blackboard) BEFORE the unit exam. The number of questions will be the same as the unit exams. They will be comprehensive and they will have a three-point extra gredit short answer question.

Comprehensive Final Exam (80 points): A final exam consisting of 80 multiple choice questions will be given during final exam week. The final exam will cover material from all four units.

MAKE-UP POLICY

Prequizzes:

Prequizzes are worth 2 points a day (total 50 points or approximately 15% of the total grade). These must be completed before 9:00 a.m. on the day of class. No make-ups are allowed. "Stuff" happens. GET AHEAD! Some prequizzes can be taken only twice and some can be taken as many times as necessary.

Exams:

If a student must miss taking an exam at the scheduled time taking the retake exam is their only make-up option. They may be allowed to take the retake (make-up) exam IF:
1. the instructor is notified BEFORE the scheduled exam time AND
2. the student has a very good reason to miss the exam at the scheduled time.

Required Activities:

These can be taken as many times as necessary. Only the highest score will count.

Papers:

ATTENDANCE POLICY

Class attendance is strongly recommended, but not required. Former students have indicated that the material covered in class is very helpful at the time of the examinations.

DAILY SCHEDULE OF LESSONS, EXAMS, and ASSIGNMENTS

SCHEDULE

The numbers (1a, 1b, 2a, etc.) in this calendar refer to Daily Lessons that can be found on the LESSONS web page or MICWEBAPP. There you will find the reading and video assignments, and much more. Click on the date and lesson number to go directly to the assignments for that lesson.

January
February
March
April
May

Mon.
Wed.

|

|

|

|

|

1/17- 1a

1/22 - 1b

1/24 - 1c

1/29 - 1d

1/31 -2a
-
Paper1
- Syllabus Quiz

Mon.
Wed.

2/5 - 3a

2/7 - 3b

2/12 No Classes

2/14 - 3c

2/19 - 5a

2/21 - 5b-
-
Paper 2

2/26 Review
-
Paper 3
-
Last day for paper 1 or paper 1 rewrites

2/28 Exam 1

Mon.
Wed.

3/5 - 4a

3/7 - 4b
-
Paper 4

3/12 - 6a

3/14 - 7a
- Last day for paper 2 or paper 2 rewrites

3/19 - 7b

3/21- 7c

3/26 Break

2/28 Break

Mon.
Wed.

4/2 Exam 2

4/4 - 8/9a
- Last day for paper 3 or paper 3 rewrites

4/9 - 8/9b

4/11 -10a
- Last day for paper 4 or paper 4 rewrites

4/16 - 10b

4/18 - 11a

4/23 - 11b

4/25 Exam 3

4/30- 12a

Mon.
Wed.

5/2 - 13a

5/7- 20a

5/9 - 22a

5/14-Final Exam 9:30 Class

5/16-Final Exam 2:00 Class

LAST DAY TO DROP THE CLASS: Sunday, 4/22

DUE DATES / EXAM DATES:

  • Papers:
    • Paper 1 - The 5Es - Wed., 2/1
    • Paper 2 - Supply and Demand - Wed., 2/21
    • Paper 3 - Why the price of gasoline is too low? - Wed., 2/26
    • Paper 4 - Elasticity - Wed., 3/7

      - See the Schedule for the LAST DAY that papers
      and rewrites can be turned in.
      - For more information on the papers see:
      http://www.harpercollege.edu/mhealy/eco211f/micpapera.htm

  • Exams:
    • Syllabus Quiz, on, or before, Wed., 2/1
    • Exam 1: Mon., 2/28
    • Exam 2: Wed., 3/29
    • Exam 3: Wed., 4/26
    • Final Exam:
      • ECO 211-002 9:30 class: FINAL: Mon., 5/14 at 9:55-11:40, J-253
      • ECO 211-005 2:00 class: FINAL: Wed., 5/16 at 1:45-3:30, J-253

BRIEF COURSE OUTLINE

IMPORTANT: For exact reading assignments see: LESSONS. or MICWEBAPP . We may not read the whole chapter, or a "chapter" may include pages from other chapters, so always check the "LESSONS" page before reading

Unit 1: Markets are Efficient, Except . . . Intro to Microeconomics

1a - The Class and the Math
1b - The 5Es of Economics
1c - Making Choices: Scarcity and Budget Lines
1d - Making Choices: Production Possibilities and Benefit-Cost Analysis
2a - Market Economies and Trade
3a - Demand
3b - Supply
3c - Market Equilibrium and Efficiency
5a - Gov't Interference in Markets and Market Failure (Negative Externalities)
5b - Market Failure Con't: Positive Externalities and Public Goods

UNIT 2: Elasticity, Consumer Choice, and Costs

4a - Price Elasticity of Demand and Tax Incidence
4b - Other Types of Elasticity
6a - Consumer Decisions: Utility Maximization
7a - Econ. Profit and the Production Function
7b - Production Costs in the Short Run
7c - Production Costs in the Long Run

Unit 3: Are Businesses Efficient? Product Markets and Efficiency

8/9a - Pure Competition: Characteristics and Short Run Equilibrium
8/9b - Pure Competition: Long Run Equilibrium and Efficiency
10a - Monopoly: Characteristics and Short Run Equilibrium
10b - Monopoly: Long run Equilibrium, Price Discrimination, and Regulation
11a - Monopolistic Competition: Are Businesses Efficient?
11b - Oligopoly: Are Businesses Efficient?

Unit 4: Labor and Efficiency: Resource Markets, Inequality, and Immigration

12a - Demand For Resources
13a - Wage Determination: Labor Markets
20a - Income Inequality and Discrimination
22a - Immigration

NOTE: This outline may be changed. Changes will be announced in class and posted on Blackboard.

OTHER USEFUL INFORMATION

LIBRARY RESERVE

A few textbooks and study guides have been placed on reserve in the library in case you leave yours at Grandma's house. Some can be checked out from the circulation desk for two days at a time and one is for in-library use only.

HOW TO PASS ECONOMICS

The following suggestions should help you learn economics:
  1. GET AHEAD!. There will be assignments for each day of class. You should try to be at least one to two days (one week) ahead. See the LESSONS or MICWEBAPP and the SCHEDULE.
  2. STUDY This is a difficult course! There is an old rule of thumb concerning studying for college courses: on average students should study TWO hours for every ONE hour of class. Since this is a 3 credit-hour course you should plan to study microeconomics 6 hours per week. This is an average, which means some courses require more study time and some less. You may find that economics requires more.
  3. BEFORE CLASS EACH DAY: (a) watch the video lectures, (b) read the assigned readings, and (c) take the prequiz. See LESSONS or MICWEBAPP for the daily assignments.
  4. READ THE BOOK! Passive reading of the textbook is not very helpful. Read with a pen in your hand and a notebook on which to list, repeat, copy, calculate, etc. ALSO, pay close attention to the TABLES and GRAPHS. THEY ARE IMPORTANT. Many students do not read the textbook and many students fail the class or withdraw. I believe the two are related.
  5. WATCH THE VIDEOS! Passive watching of the video lectures is not very helpful either. Most of the Tomlinson videos have an online review quiz (Thinkwell Exercise), transcripts, and lecture notes. Use them. Also, I have watched each of the assigned video lectures and taken my own notes. These VIDEO NOTES are available on our Blackboard site. Once you log in to the Thinkwell class site click on the "Chapter Checklist" link for a list of the videos by their number. Many students do not watch the videos and many students fail the class or withdraw. I believe the two are related. Students have told me that the videos are VERY HELPFUL. If you want a good grade then watch the videos.
  6. ATTEND CLASS Come to class each day and come prepared to work. You will get a lot of your studying done during class. Please don't be late. NO CELL PHONES can be used in class.
  7. DO PROBLEMS. If you don't do the problems you will do poorly on the quizzes and exams.
    Many are available on our Blackboard site. Begin with the REQUIRED ACTIVITIES (since you earn points for doing them) and the YELLOW PAGES. Then, do other exercises that can be found in the
    PRACTICE EXERCISES section of the Blackboard menu. Also, there are review quizzes (THINKWELL EXERCISES) for most of the online video lectures (VIDEO LOGIN).
  8. GET HELP
    • See the instructor duing office hours.. This should be done EARLY in the semester.
    • Ask questions in class and on the Blackboard Discussion Board.
    • Attend the SI sessions.
    • The Tutoring Center also offers help.
    • You may also want to make use of SUCCESS SERVICES FOR STUDENTS AT HARPER COLLEGE (see below).

  9. APPLY the concepts learned in class to the "real world" including issues in the news and aspects of your personal life.

LEARN TO STUDY SMARTER: SUCCESS SERVICES FOR STUDENTS AT HARPER COLLEGE

Make the most of your college experience this fall by visiting Success Services for Students. Be aware of your academic needs and work to effectively change behaviors to improve academic success. Schedule an appointment for one of the following free sessions: Study Skills, Test Taking Tips, Time Management, Memory, Motivation, Test Anxiety, Reading Strategies, Math Strategies, Note Taking Skills, Concentration, Study Behavior Inventory, Learning Styles, Test Performance Analysis, Accounting Tips, Economics Tips, Preparing for Finals, and Online Study Tips.

Stop by our new location in D-202, call 847.925.6715 or email success@harpercollege.edu to schedule an appointment. See: http://www.harpercollege.edu/academicsupport  


ACCESSIBILITY STATEMENT / ACCESS AND DISABILITY SERVICES

Your success in this class is important to me. If you have a disability (learning, physical, psychological or other) and may require some accommodation or modification in procedures, class activity, instruction, requirements, etc. please contact me early in the semester so we can refer you to ADS who will discuss and arrange for reasonable accommodations. The Access and Disability Services department is in the Building I, I-103, 847.925.6266 or TTY (847) 397-7600

EQUAL OPPORTUNITY STATEMENT

William Rainey Harper College provides equal opportunity in education and does not discriminate on the basis of race, color, religion, national origin, age, marital status, sexual orientation, or disability.

STUDENT E-MAIL NOTIFICATIONS

All notifications related to student registration or other business activities are sent to students via a G-mail account that is assigned to students upon registration. Students access the G-mail account via an icon in the student portal (where you registered for classes). Please check this e-mail frequently. To forward e-mails from this account to a personal e-mail account please follow the instructions for forwarding Harper e-mail available at http://harper.blackboard.com/  

ACADEMIC HONESTY POLICY

Harper College is strongly committed to the promotion of high ethical standards. Such standards can best be accomplished in an environment where honesty and integrity are practiced. For this reason the College strongly condemns academic dishonesty. Academic dishonesty includes cheating, plagiarism or other improper appropriation of another's work as one's own and falsifying records to advance one's academic standing.

Cheating includes but is not limited to copying answers, stealing and/or disseminating tests or answer keys, using someone else's data in preparation of reports or assignments, and assisting others in such practices.

Plagiarism involves the presentation of another person's words, ideas, or work as one's own. It includes but is not limited to copying any material (written or non-written) without proper acknowledgment of its source, and paraphrasing another's work or ideas without proper acknowledgment.

Falsifying records includes but is not limited to falsifying or improperly altering college records and documents, or knowingly supplying false or misleading information to others (e.g., the College, other educational institutions, or prospective employers).

Any form of academic dishonesty as defined by the faculty member or department is a serious offense requiring disciplinary measures. Discipline for academic dishonesty involving a specific course shall be first determined by the instructor of the course and may include failure of the specific assignment, project or test, or failure of the course. The student may appeal the instructor's decision in accordance with the College's Student Academic Complaint Procedures. In cases of academic dishonesty the faculty assigned grade supersedes a student-initiated withdrawal. In cases where disciplinary measures beyond course failure may be deemed appropriate by the instructor, or dishonesty that is not related to a specific course, the student may be disciplined in accordance with the Student Conduct Policy with the appropriate vice president involved in the decision.