Syllabus
BUEC 204: Microeconomics – Summer Session 2 (2023)
Credits - 3
Description
This course is designed to provide students with insight into and appreciation of the dynamics of a market-based economy. Microeconomics is the study of interactions of individual economic agents, consumers, producers and governments, to determine how decisions are made in allocating the use of scarce resources within a society. The theoretical framework of supply and demand models, the core of economic analysis, are introduced, and developed throughout the course. Perfectly competitive markets are defined and analyzed in order to allow comparisons of economic efficiencies and inefficiencies relative to other organizational forms of economic activity. Market imperfections, monopolies as well as more general distortions of market behavior, and market failures will also be identified and addressed in detail. The role of government involvement within a market economy will also be discussed.
Microeconomics is the very foundation of economic reasoning and methodology. A firm grasp of the concepts of microeconomics will allow students to better comprehend the decision-making process involving allocation of resources as well as social welfare consequences of different forms and structures of economic activity.
Materials
Learning Objectives and Outcomes
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Apply economic concepts to evaluate true costs and benefits of alternative actions
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Define microeconomic concepts such as supply and demand models, ceteris paribus, market imperfections, monopolies, perfect competition, and market structure
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Assess and formulate informed opinions regarding the numerous economic-related current event issues under discussion
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Describe the complexities and efficiency of a market economy, as well as areas of shortcomings and provide insights into possible improvements
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Identify and appraise the overall interdependency of all economic activity and an ability to better assess true costs and benefits of intervention in the market mechanism
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Participate in active learning in the course through such activities as thoughtful and meaningful discussion board posts and debates, and presentation of research through contemplative posts and written essays
Assignments
- 5 Discussion Board Posts, with 2 peer responses (weeks 1, 2, 4, 5)
- 4 weekly multiple-choice assessments (weeks 1, 2, 4, 5)
- 1 mid-term exam in essay format (week 3)
- 1 final exam in essay format (week 6)
Grading Policy
Your grade in this course will be determined by the following criteria:
Grade Breakdown
| Assignment | Percentage | Dates |
|---|---|---|
| Discussion Board Participation | 25% | July 12, 19, Aug 2, 9 |
| Mid-term Quiz | 30% | July 18-19 |
| Final Exam | 40% | August 15-16 |
| Weekly Assessments | 5% | July 12, 19, Aug 2, 9 |
Grade Scale
| Grade | Points Grade | Point Average (GPA) |
| A | 94 – 100% | 4.00 |
| A- | 90 – 93% | 3.75 |
| B+ | 87 – 89% | 3.50 |
| B | 84 – 86% | 3.00 |
| B- | 80 – 83% | 2.75 |
| C+ | 77 – 79% | 2.50 |
| C | 74 – 76% | 2.00 |
| C- | 70 – 73% | 1.75 |
| D | 64 – 69% | 1.00 |
| F | 00 – 63% | 0.00 |
Schedule
Week 1: short week – Jul 5 – Jul 9
Week 2: Jul 10 – Jul 16
Week 3: Jul 17 – Jul 23
Week 4: Jul 24 – Jul 30
Week 5: Jul 31 – Aug 6
Week 6: short week – Aug 7 – Aug 11
| Week of: | Topic: | Reading: | Assignments: |
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| July 10 |
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| July 17 |
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| July 24 |
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| July 31 |
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| August 7 |
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Student Resources
Policies
Diversity Statement
This course and our classroom is a place where all students should feel welcomed. UNE’s Core Values Statement acknowledges “the benefits of a richly varied campus community arise not only from the diversity of its people but also from a sense of belonging and the context this creates to explore and celebrate differences in backgrounds, experiences, and perspectives, underpinned by a sense of cultural humility and a commitment to ethical ideals” (see https://www.une.edu/about/glance/mission-vision-and-values).
- If you have another name or pronouns different from the roster, please let me know.