EC 110 Section 004: Prin Of Microeconomics
Fall 2011
3 Credit Hours
Primary Instructor: Dr. Kent Zirlott
Core Designation: Social and Behavioral Sciences
Syllabus subject to change.
The purpose of this course is to equip students with both a theoretical foundation of basic microeconomics as well as the techniques with which to apply these principles to other courses within the business school in addition to the everyday world. This course will cover basic microeconomic principles, such as supply and demand analysis, elasticity, taxes, costs and production, profit maximization, monopolies, and public goods. The background information learned in this course is instrumental to understanding the functions of industry and government; therefore, success in understanding this material is important.
Course Outline (Tentative):
Topic Textbook Chapters
Thinking Like An Economist 1 & 2
Comparative and Absolute Advantage 3
Supply and Demand 4
Exam #1 1-4
Elasticity 5
Price Ceilings and Price Floors 6
Consumer and Producer Surplus 7
Taxes 8
Exam #2 5-8
Production and Costs 13
Perfect Competition 14
Monopoly 15
Imperfect Competition Parts of 16 & 17
Exam #3 13-17
Externalities 10
Public Goods 11
Final Exam Comprehensive
Exam #1 will be on Thursday, Sept. 22nd, and Exam #2 will be on Thursday, Oct. 20th, and Exam #3 will be on Tuesday, Nov. 22nd. The first 3 exams will all be given during regular class hours on those dates. The Final Exam will be on Thursday Dec. 15th from 7:00 PM to 9:30 PM. No one may take the final exam before this time.
APLIA: This is an online homework website. Registration and use of APLIA is required. Registration on this website provides an online version of the textbook (you do not have to buy a hard copy of the book). Access to the assignments and the online book are part of the registration and payment for access to the website.
Classroom Etiquette
Students are expected to exhibit proper classroom behavior at all times. This includes: no talking during the lecture, no eating during classroom hours, Ipods and other music devices are not allowed, cell phones are to be turned off before each lecture, texting is NOT allowed during class time, and students are to be respectful to each other. Failure to follow these rules will lower your grade.
There will be three (3) in class exams worth 100 points each plus a final exam worth 100 points for a total exam points possible of 400. Each of the exams will consist of 50 multiple choice questions worth 2 points each. In addition, completion of at least 12 homework assignments (maybe more) on the APLIA website is a required part of this course. The APLIA assignments are worth at least 100 points. Any points scored over 100 points on the APLIA assignments is extra credit and will count toward your final grade. To calculate your class grade, simply add up (do not divide or average anything) your points scored on the exams and APLIA assignments to get your total points for the class and then compare the total points to the grading scale below.
The grading scale will be as follows:
500 – 475 A+ 474 – 450 A 449 – 440 A-
439 – 420 B+ 419 – 400 B 399 – 390 B-
389 – 370 C+ 369 – 350 C 349 – 340 C-
339 – 320 D+ 319 – 300 D 299 – 290 D-
Below 290 F
Make-up exams will be allowed ONLY if prior agreement and arrangement is made and documentation is provided, such as a doctor’s excuse. You may NOT take the Make-Up Exam without documentation. The make-up for the exam should be taken within one week of the regularly missed exam date. In addition, an APLIA assignment can be extended if documentation is also provided. There will NO extensions of an APLIA assignment without proper documentation.
Students are expected to attend class regularly and actively participate in class discussions and lectures. In addition, students are required to read and study the text and materials prior to coming to class and raise questions. Many problems and exercises we cover in class will be similar to problems on the exams; therefore, regular class attendance is important! Also, students are required to take exams covering the material and complete the APLIA homework assignments.
All students in attendance at the University of Alabama are expected to be honorable and to observe standards of conduct appropriate to a community of scholars. The University expects from its students a higher standard of conduct than the minimum required to avoid discipline. Academic misconduct includes all acts of dishonesty in any academically related matter and any knowing or intentional help or attempt to help, or conspiracy to help, another student.
The Academic Misconduct Disciplinary Policy will be followed in the event of academic misconduct.
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UA is a residential campus with many students living on or near campus. In general classes will remain in session until the National Weather Service issues safety warnings for the city of Tuscaloosa. Clearly, some students and faculty commute from adjacent counties. These counties may experience weather related problems not encountered in Tuscaloosa. Individuals should follow the advice of the National Weather Service for that area taking the necessary precautions to ensure personal safety. Whenever the National Weather Service and the Emergency Management Agency issue a warning, people in the path of the storm (tornado or severe thunderstorm) should take immediate life saving actions.
When West Alabama is under a severe weather advisory, conditions can change rapidly. It is imperative to get to where you can receive information from the National Weather Service and to follow the instructions provided. Personal safety should dictate the actions that faculty, staff and students take. The Office of Public Relations will disseminate the latest information regarding conditions on campus in the following ways: