| Credit Hours: |
3 |
| Contact Hours: |
3
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| Laboratory Fee: |
None.
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| Prerequisites: |
There are no prerequisites for this course.
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| Corequisites: |
There are no corequisites for this course.
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| Comments: |
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| Catalog Description: |
This course treats mainly micro theory. It gives much attention to
model building and analysis of product and resource markets. The
course especially emphasizes topics such as the economics of the
firm under the four major market conditions, resources allocation,
the monopoly problem and legislation associated therewith,
agriculture, unionism, international trade and finance, and the
institutions of the command economy.
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| Required Materials: |
Books:
- McConnell, Brue, and Flynn. Economics, 19 ed., McGraw-HIll, 2011. ISBN: 9780073511443
- McConnell, Brue, and Flynn. Microeconomics (w/out Connect Plus AccessCode), 19 ed., McGraw-HIll, 2011. ISBN: 9780077337735
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| Supplemental Materials: |
Byrns. Economics Study Guide, 6th ed., Harper Collins College
Division, 1993. -->
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| Special Requirements: |
None
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| Program Learning Outcomes: |
Upon completion of this course, the student will be able to:
1. Develop an understanding of the concepts of demand,
supply, equilibrium, and their interrelationships.
2. State the formula for the price coefficient of demand elasticity
and the total revenue test for elasticity.
3. Identify the role of profit and loss, cost and revenue data on
the activity of the firm.
4. Describe the market conditions present in perfect competition.
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| Course Learning Outcomes: |
To achieve these learning outcomes, the following will be performed:
1. Describe the impact of imperfect market conditions
present in a monopoly, oligopoly, and in monopolistic
competition.
2. Discuss the concept of economies of scale.
3. Evaluate the role of a tariff as a tool for protectionism.
4. Introduce the role that government plays in microeconomic
policy.
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| Methods of Evaluation: |
Evaluation of student progress towards achieving the stated learning
outcomes and performance objectives is the responsibility of the
instructor, within the polices of the college and the department.
Detailed explanation is included in the expanded syllabus developed
by the instructor for each section being taught.
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| Flexibility: |
It is the intention of the instructor to accomplish the objectives specified in the course syllabus. However, circumstances may arise which prohibit the fulfilling of this endeavor. Therefore, this syllabus is subject to change. When possible, students will be notified of any change in advance of its occurrence.
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| Student Email Accounts: |
Pensacola State College provides an institutional email account to all credit students. Pirate Mail is the official method of communication, and students must use Pirate Mail when communicating with the College. In cases where companion software is used for a particular class, emails may be exchanged between instructor and student using the companion software.
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| Note: |
For students with a disability that falls under the Americans with Disability Act or Section 504 of the Rehabilitation Act, it is the responsibility of the student to notify Student Resource Center for ADA Services to discuss any special needs or equipment necessary to accomplish the requirements for this course. Upon completion of registration with the Student Resource Center for ADA Services office, specific arrangements can be discussed with the instructor.
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| Equity Statement: |
Pensacola State College does not discriminate against any person on the basis of race, ethnicity, national origin, color, gender/sex, age, religion, marital status, pregnancy, disability, sexual orientation, gender identity, or genetic information in its educational programs, activities or employment. For inquiries regarding Title IX and the college’s nondiscrimination policies, contact the Associate Vice President for Institutional Diversity/Title IX Officer at (850) 484-1759, Pensacola State College, 1000 College Blvd., Pensacola, Florida 32504.
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