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HomeMy WebLinkAboutECO-2021 BERGEN COMMUNITY COLLEGE Division of Business & Social Sciences Department of Social Sciences Departmental Policy Syllabus ECO-202 Intermediate Microeconomics Instructor: Office Location: Phone: Office Hours: Email Address: Departmental Secretary: COURSE DESCRIPTION This course is designed to deepen student’s understanding and knowledge of theoretical and empirical microeconomic theory. Topics covered in the course include consumer utility and choice; production functions and cost; pricing of output and inputs under various market structures such as perfect competition, monopoly, monopolistic competition and oligopoly, as well as externalities and public goods. Credits: 3 Hours: 3 Prerequisites: ECO-102 Co-requisites: None General Education Course: No Diversity Course: No STUDENT LEARNING OBJECTIVES The main goal of this course is to present a rigorous analysis of the demand theory and consumer behavior, the theory of production and costs, the equilibrium of the firm, the theory of income distribution and factor prices and the nature of economic models. These concepts will be presented both graphically and mathematically. As a result of meeting the requirements of this course, students will be able to: ➢ Explain how consumers maximize utility given their incomes, preferences, and the relative prices of goods in the market ➢ Use the tools of demand and supply to explain changes in equilibrium prices and quantities across different markets in the U.S. and to predict effects of government policies such as taxes, tariffs and quotas, price floors and price ceilings ➢ Describe how producers maximize profits given the available technology, the relative prices of inputs and the prices of goods in the market ➢ Compare and contrast the outcome of different types of market structures in the U.S. economy ➢ Identify two general types of externalities and distinguish between market and government- based solutions to such market failures 2 MEANS OF ASSESSMENT In order to meet the Student Learning Objectives above, various assessment types will be utilized. The major assessment types used in this course are graded class discussions, homework assignments, tests and quizzes. COURSE TEXTBOOK Suggested textbooks: Nicholson, W. & Snyder, C. (2021). Intermediate Microeconomics and Its Application, 13th Edition. Boston, MA: South-Western College Publication. GRADING POLICY A student’s final grade should be based primarily on his/her performance on the homework assignments and the mastery of the material covered in the course through quizzes and multiple- choice tests. Class participation will also be part of the final grade. ATTENDANCE POLICY BCC Attendance Policy: All students are expected to attend punctually every scheduled meeting of each course in which they are registered. Attendance and lateness policies and sanctions are to be determined by the instructor for each section of each course. These will be established in writing on the individual course outline. Attendance will be kept by the instructor for administrative and counseling purposes. OTHER COLLEGE, DIVISIONAL, AND/OR DEPARTMENTAL POLICY STATEMENTS Academic Dishonesty: The College has a zero-tolerance policy regarding academic dishonesty. Instances of alleged academic dishonesty such as plagiarism or cheating will be reported to the Departmental Chair and the Vice President for Academic Affairs. Should such allegation be proven, the student will face failure for the work where the cheating occurred, and possibly be removed from the class and suspended from the college with a permanent record of the offense established. Communication: Only communications made through Bergen e-mail account will be accepted. No personal e-mail accounts will be used. Each and every one of you has a Bergen e-mail account and you must use that account when communicating with faculty members. Withdrawals: Students who decide to withdraw from the class can do so without penalty (with the exception of losing tuition money) as long as they meet the official deadline for withdrawal which is posted in the Academic Calendar of the college. Please check that Calendar for the exact date. Remember, do not just walk away from the course without officially withdrawing as it will result in a 3-credit zero averaged into your GPA. If you are failing the course, withdraw officially while you can without penalty. Class Cancellation: Please view class cancellations online by selecting Class Cancellations under Current Students>Student Support Services on the College’s home page at www.bergen.edu. 3 Students with Disabilities: Students with documented disabilities who require accommodations by the Americans with Disabilities Act (ADA) can request support services from the Office of Specialized Services of Bergen Community College located in room L-116 of the Pitkin Learning Center. http://www.bergen.edu/oss INCLUDE A COURSE OUTLINE AND CALENDAR Week(s) Topic Reading/Activity/Assignments 1 Two Basic Economic Models Chapter 1/Homework/Quiz 2 Some Useful Math Chapter 2/Homework/Quiz 3 Utility & Choice Chapter 3/Homework/Quiz 4 Demand Curves Chapter 4/Homework/Quiz 5 Review Exam 1 6 Production Chapter 7/Homework/Quiz 7 Costs Chapter 8/Homework/Quiz 8 Profit Maximization & Supply Chapter 9/Homework/Quiz 9 Perfect Competition in a Single Market Chapter 10/Homework/Quiz 10 Review Exam 2 11 Monopoly Chapter 12/Homework/Quiz 12 Imperfect Competition Chapter 13/Homework/Quiz 13 Pricing in Input Markets Chapter 14/Homework/Quiz 14 Externalities & Public Goods Chapter 17/Homework/Quiz 15 Review Final Exam Note to Students: This Course Outline and Calendar is tentative and subject to change, depending upon the progress of the class.