Syllabus
ECON 1010: Microeconomics – Accelerated – 8 week (Spring B 2025)
Credits - 3
Description
This course provides a thorough introduction to microeconomic theory. This course begins with an analysis of opportunity costs and trade offs. These concepts are then used as the foundation for studying producer and consumer behavior. Next, consumer and producer behavior theory are combined and used as the building blocks for an analysis of supply, demand, consumer surplus, producer surplus, and elasticity. The course concludes with an overview of the four market structures commonly studied in microeconomics and how they rely on the concepts and theories that have provided the foundation for the course. Recommended prerequisite: College Algebra.
Materials
Learning Objectives and Outcomes
Course Objectives
- Examine the role economists play in society and how they use critical thinking skills
- Analyze the term microeconomics and the components of the economic system: demand, supply, equilibrium, and consumption
- Evaluate the factors of production, market structure, resource allocation, and regulation
- Analyze household behavior and consumer choice
- Summarize the behavior of profit maximizing firms and the production process
- Outline the production and distribution of resources, goods, and services
- Debate the concept of scarcity and opportunity cost with the concept of marginal analysis to evaluate trade-offs and make decisions
- Analyze how markets work to allocate resources and the optimal individual decision-making that underlies market outcomes
- Identify various market structures and their implications for resource allocation
Assignments
Knowledge Check
Knowledge Checks are weekly quizzes that will test your knowledge of the concepts covered in the readings and videos for that week. Your course allows for a possible second attempt with quizzes.
Discussion
Discussions require two responses. The first response should address the question presented in the prompt. The second response should be a response to a classmate comparing and contrasting examples used in the first response.
Article Analysis
Article Analysis requires an analysis of a current event that relates to a microeconomic concept or theory.
Readings and Video Submission
Readings and Video Submissions are focused questions designed to help students reflect on the readings and videos presented for the weekly topic.
Worksheet Quiz
Worksheets are opportunities to practice and apply the concepts and theories that are covered each week. Each worksheet quiz consists of either multiple choice, fill-in-the-blank, true/false, or short answer questions that will be based on concept and theory definitions, graph interpretation, mathematical computations, and practical scenarios.
Research Analysis
The Research Analysis allows students to research products and/or firms that operate within each of the following market structures: Perfect Competition, Monopolistic Competition, Oligopoly, and Monopoly. Through this analysis, students will become more familiar with the characteristics and attributes of each market structure.
Final
The Final is comprehensive and consists of multiple choice, true/false, and fill-in-the-blank questions which encompasses all material in Weeks 1-8. The questions are based on theory and concept definitions, graph interpretations, mathematical computations, and practical scenarios.
A UNE-compliant webcam is required.
Grading Policy
Your grade in this course will be determined by the following criteria:
Grade Breakdown
| Knowledge Checks | 9% |
| Discussions | 27% |
| Identify Media Research Paper | 7% |
| Readings and Video Submissions | 16% |
| Worksheets | 21% |
| Market Structure Paper | 8% |
| Final | 12% |
| Total | 100% |
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
Course Schedule
Week 1: Mar 12 – Mar 18
Week 2: Mar 19 – Mar 25
Week 3: Mar 26 – Apr 1
Week 4: Apr 2 – Apr 8
Week 5: Apr 9 – Apr 15
Week 6: Apr 16 – Apr 22
Week 7: Apr 23 – Apr 29
Week 8: Apr 30 – May 6
|
Week |
Topic |
Activities |
Due Dates |
|
1 |
What is Economics? |
|
Initial Discussion Posts: 11:59 PM EST on SUNDAY Response Discussion Posts, Assignments, and Quizzes: 11:59 PM EST on TUESDAY |
|
2 |
Factors of Production and the Circular Flow Model |
|
Initial Discussion Posts: 11:59 PM EST on SUNDAY Response Discussion Posts, Assignments, and Quizzes: 11:59 PM EST on TUESDAY |
|
3 |
Production and Cost |
|
Assignments, and Quizzes: 11:59 PM EST on TUESDAY |
|
4 |
Production Possibilities Frontier, Opportunity Costs, and Comparative Advantage |
|
Initial Discussion Posts: 11:59 PM EST on SUNDAY Response Discussion Posts, Assignments, and Quizzes: 11:59 PM EST on TUESDAY |
|
5 |
Consumer Theory and Utility |
|
Initial Discussion Posts: 11:59 PM EST on SUNDAY Response Discussion Posts, Assignments, and Quizzes: 11:59 PM EST on TUESDAY |
|
6 |
Supply, Demand, and Equilibrium |
|
Initial Discussion Posts: 11:59 PM EST on SUNDAY Response Discussion Posts, Assignments, and Quizzes: 11:59 PM EST on TUESDAY |
|
7 |
Consumer Surplus, Producer Surplus, and Deadweight Loss |
|
Initial Discussion Posts: 11:59 PM EST on SUNDAY Response Discussion Posts, Assignments, and Quizzes: 11:59 PM EST on TUESDAY |
|
8 |
Market Structures |
|
Assignments, and Final Exam: 11:59 PM EST on TUESDAY |
Student Resources
Accommodations
Any student who would like to request, or ask any questions regarding, academic adjustments or accommodations must contact the Student Access Center at (207) 221-4438 or pcstudentaccess@une.edu. Student Access Center staff will evaluate the student's documentation and determine eligibility of accommodation(s) through the Student Access Center registration procedure.
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Policies
Attendance Policy
6- to 8-week courses: Students taking online graduate courses through the College of Professional Studies will be administratively dropped for non-participation if a graded assignment/discussion post is not submitted before Sunday at 11:59 pm ET of the first week of the term. Reinstatement is at the purview of the Dean's Office.
10+ -week courses: Students taking online graduate courses through the College of Professional Studies will be administratively dropped for non-participation if a graded assignment/discussion post is not submitted before Friday at 11:59 pm ET of the second week of the term. Reinstatement is at the purview of the Dean's Office.
Student Handbook Online - Policies and Procedures
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Academic Integrity
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Academic dishonesty includes, but is not limited to the following:
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- Fabrication or falsification of data, results, or sources for papers or reports.
- Action which destroys or alters the work of another student.
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