Syllabus

Science Prerequisites for Health Professionals

ECON 1010: Introduction to Microeconomics Fall 2024

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

Textbooks

Open Education Resources (Free) we will use in this course:

Greenlaw, S. A., & Shapiro, D. (2011). Principles of microeconomics 2e. OpenStax. https://assets.openstax.org/oscms-prodcms/media/documents/Microeconomics2e-OP.pdf

Saylor Academy. (2012). Microeconomics: Theory through applications. Licensed under a CC BY-NC-SA license. https://saylordotorg.github.io/text_microeconomics-theory-through-applications/index.html

Resources

Mandatory UNE-approved webcam – To be used during proctored exams

Learning Objectives and Outcomes

Course Objectives

  1. Examine the role economists play in society and how they use critical thinking skills
  2. Analyze the term microeconomics and the components of the economic system: demand, supply, equilibrium,  and consumption
  3. Evaluate the factors of production, market structure, resource allocation, and regulation
  4. Analyze household behavior and consumer choice
  5. Summarize the behavior of profit maximizing firms and the production process
  6. Outline the production and distribution of resources, goods, and services
  7.  Debate the concept of scarcity and opportunity cost with the concept of marginal analysis to evaluate trade-offs and make decisions
  8. Analyze how markets work to allocate resources and the optimal individual decision-making that underlies market outcomes
  9. Identify various market structures and their implications for resource allocation

SELF PACED DESIGN

On the course start date, students will have access to orientation. This must be completed to be able to gain access to the first module in the course. Students must complete the first module to gain access to the next one. We recommend that students spend about 15 hours per week to complete a course in 16 weeks. When trying to complete the course in less than 16 weeks, we typically see students do this successfully within 12-14 weeks. Instructors will be timely in grading and feedback, but it will not be instant.

Assignments

Knowledge Check

Knowledge Check are weekly quizzes that will test your knowledge over the concepts covered in the readings and videos for that week. Your course allows for a possible second and/or third attempt with quizzes assignments. Please contact your course instructor if you wish to utilize another attempt.

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

Worksheets are opportunities to practice and apply the concepts and theories that are covered each week. Each worksheet 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 1-15.  The questions are based on theory and concept definitions, graph interpretations, mathematical computations, and practical scenarios.

This Final Exam must be taken though ProctorU. See UNE’s ProctorU page for information about signing up and scheduling your exam. The official UNE webcam is required. 

Proctored exams are closed for review. You will not be able to review them at any time. Please contact your instructor for specific feedback.

Grading Policy

Your grade in this course will be determined by the following criteria:

Grade Breakdown

AssignmentsPointsPercentage
Knowledge Check113.511.35%
Discussion130.513.05%
Article Analysis: Week 1404.00%
Readings and Video Submission126.512.65%
Worksheet359.535.95%
Research Analysis: Weeks 12-1516016.00%
Final707.00%
Total1,000100%

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

Topic

Readings/Resources

Assignments

1

What is Economics?

  • Principles of Microeconomics 2e: Chapter 1
  • Microeconomics: Theory Through Applications: Chapter 2
  • Discussion
  • Article Analysis
  • Knowledge Check 

2

Factors of Production and the Circular Flow Model

  • Principles of Microeconomics 2e: Chapter 1.3 (pp. 23–25)
  • Principles of Microeconomics 2e: Chapters 7.2 and 7.3 (pp. 166–179)
  • Economics and You (pp. 15–18) 
  • Readings and Video Submission
  • Discussion (Case Study)
  • Knowledge Check

3

Production and Cost

  • Principles of Microeconomics 2e: Chapter 7 (pp. 163–188)
  • Readings and Video Submission
  • Worksheet
  • Knowledge Check

4

Production Possibilities Frontier, Opportunity Costs, and Comparative Advantage

  • Principles of Microeconomics 2e
    • Chapter 2.1, 2.2, and 2.3 (pp. 35-48)
    • Chapter 19.1 and 19.2 (pp. 452-462)
  • Microeconomics: Theory Through Applications
    • Chapter 5.4 (pp. 190–209)
    • Chapter 11.2 (pp. 515–523)
  • Readings and Video Submission
  • Discussion

5

Production Possibilities Frontier, Opportunity Costs, and Comparative Advantage

  • Microeconomics: Theory Through Application: Chapter 17.12 (pp. 799–800)
  • Worksheet
  • Knowledge Check

6

Consumer Theory and Utility

  • Principles of Microeconomics 2e: Chapter 6 (pp. 141–162) 
  • “Consumer Preferences”
  • A Consumer’s Constrained Choice
  • Readings and Video Submission
  • Discussion

7

Consumer Theory and Utility

  • Principles of Economics: Chapters 7.1–7.4 
  • Microeconomics: Module 6: Utility
  • Worksheet 1
  • Worksheet 2
  • Knowledge Check

8

Supply, Demand, and Equilibrium

  • Principles of Economics 2e: Chapter 3 (pp. 53–81)
  • Microeconomics: Theory Through Application: Chapter 3.2 (pp. 54–74)
  • Microeconomics: Theory Through Application: Chapter 5.3 (pp. 177–189)
  • Introduction to Business: Chapter 2: Equilibrium 
  • Readings and Video Submission
  • Discussion

9

Supply, Demand, and Equilibrium

  • Principles of Economics 2e: Chapter 3 (pp. 53–81)
  • Microeconomics: Theory Through Application: Chapter 3.2 (pp. 54–74)
  • Microeconomics: Theory Through Application: Chapter 5.3 (pp. 177–189)
  • Introduction to Business: Chapter 2: Equilibrium 
  • Demand Worksheet
  • Supply Worksheet
  • Equilibrium Worksheet
  • Application Worksheet

10

Consumer Surplus, Producer Surplus, and Deadweight Loss

  • Chapter 3 Section 5 from Principles of Microeconomics 2e (p. 79 – 82) 
  • Consumer and Producer Surplus in Module 4 from Lumen.
  • Excerpts from the Module: Surplus from Lumen
  • Readings and Video Submission
  • Discussion
  • Worksheet
  • Knowledge Check

11

Elasticity

  • Chapter 5 (p. 115 – 133) from Principles of Microeconomics 2e
  • Excerpts from Module 5: Elasticity in Microeconomics by Lumen
  • Readings and Video Submission
  • Worksheet
  • Knowledge Check

12

Perfect Competition

  • Chapter 8 (p. 195-215) from Principles of Microeconomics 2e. 
  • Excerpts from Module 8: Perfect Competition by Lumen
  • Readings and Video Submission
  • Research Analysis
  • Knowledge Check

13

Monopoly

  • Chapter 9 (p. 223 – 238) in Principles of Microeconomics 2e. 
  • Excerpts from Module 9: Monopoly in Microeconomics by Lumen
  • Readings and Video Submission
  • Research Analysis
  • Knowledge Check

14

Oligopoly

  • Chapter 10 (p. 244; p. 252 – 257) in Principles of Microeconomics 2e.
  • Excerpts from Module: 10 Monopolistic Competition and Oligopoly from Microeconomics by Lumen

 

  • Readings and Video Submission
  • Research Analysis
  • Knowledge Check

15

Monopolistic Competition

  • Ch. 10 (p. 243 – 251) from Principles of Microeconomics 2e.
  • Excerpts from Module 10: Monopolistic Competition and Oligopoly in Microeconomics by Lumen
  • Readings and Video Submission
  • Research Analysis
  • Knowledge Check

16

Final 

 
  • Final Exam

Student Resources

Online Student Support

Your Student Support Specialist is a resource for you - they will monitor course progression and provide assistance or guidance when needed. Please don’t hesitate to contact them for assistance, including, but not limited to course planning, course materials, billing, current problems or issues in a course, technology concerns, or personal emergencies.

Questions? Submit your student support request.

Online Peer Support

Togetherall is a 24/7 communication and emotional support platform monitored by trained clinicians. It’s a safe place online to get things off your chest, have conversations, express yourself creatively, and learn how to manage your mental health. If sharing isn’t your thing, Togetherall has other tools and courses to help you look after yourself with plenty of resources to explore. Whether you’re struggling to cope, feeling low, or just need a place to talk, Togetherall can help you explore your feelings in a safe supportive environment. You can join Togetherall using your UNE email address.

Instructor and Support Contact Information

Check Brightspace for specific instructor and support specialist contact information.

Student Lounge

The Student Lounge Discussion Forum is a designated support forum in which students may engage with each other and grapple with course content. Feel free to post questions, seek clarification, and support each other, but be mindful of UNE's Academic Integrity Policy.

Your instructor will monitor this forum. However, if you are seeking specific and timely answers to questions about course content or your personal grades, please contact your instructor via course messages. For questions about course materials, program policy, and how to navigate and proceed through the course, please contact your Student Service Advisor through the Student Portal.

Policies

Proctored Examinations

Your course may have proctored exams. Please see your course for full details, access, testing requirements, and guidelines.

Students must follow all proctoring requirements for their exams to be credited. Please contact your instructor for specific feedback.

Exam Attempts Policy

Students will receive two attempts at all proctored examinations. The higher score of the two attempts will be calculated into the final grade.

All students are encouraged to use a second attempt on their exams in order to improve their overall performance in the course.

Course Discussions

Discussion topics cover events or materials related to this course that contribute to a deeper understanding of key concepts and allow you to interact with your classmates and the instructor. Each discussion topic may require you to conduct internet research, read additional materials, visit a specific webpage, AND/OR view a short video before writing a response following the specific guidelines in the discussion topic prompt.

To earn full credit you will need to post a response to the discussion topic, respond to the original posts of other students, and then contribute meaningfully to an ongoing discussion. You may need to post your initial response before you will see any posts from your classmates. For special cases where one or two students are accelerating faster through the course, the instructor will participate in the discussion so that everyone has the opportunity to interact.

Please see Brightspace for a full description, along with specific guidelines, for each discussion topic. Discussion board assignments should be completed, along with all other assignments in the course, in the order that they appear. Due to the course design, you may be unable to take a proctored exam if you do not complete all assignments that appear prior to that exam.

Please also refer to the Grading Policy/Grade Breakdown section of the syllabus to learn the percentage of your grade that each discussion is worth.

Technology Requirements

Please review the technical requirements for UNE Online Programs: Technical Requirements

Course Length

A schedule of lectures and assignments is included in this syllabus. This is, however a self-paced course and you can complete the course in less time.

  1. Courses in the SPHP program are equivalent to one-semester courses designed to be completed in 16 weeks
  2. Enrollment in the course begins the day your section opens which is listed in the Academic Calendar found on the Student Success Portal.
  3. Course start and end dates are in respect to Eastern Time.

Withdrawal and Refund Policies

Please visit the enrollment page to review the withdrawal and refund policies.

Grade Policy

Students are expected to attempt and complete all graded assignments and proctored exams by the end date of the course. View the incomplete grade policy..

Transcripts

Due to the Family Educational Rights and Privacy Act, only the student may request official transcripts. This may be done online by going to the University of New England Registrar website and following the directions on the page.

Academic Integrity

The University of New England values academic integrity in all aspects of the educational experience. Academic dishonesty in any form undermines this standard and devalues the original contributions of others. It is the responsibility of all members of the University community to actively uphold the integrity of the academy; failure to act, for any reason, is not acceptable.

Academic dishonesty includes, but is not limited to the following:

  1. Cheating, copying, or the offering or receiving of unauthorized assistance or information.
  2. Fabrication or falsification of data, results, or sources for papers or reports.
  3. Action which destroys or alters the work of another student.
  4. Multiple submission of the same paper or report for assignments in more than one course without permission of each instructor.
  5. Plagiarism, the appropriation of records, research, materials, ideas, or the language of other persons or writers and the submission of them as one's own.

Charges of academic dishonesty will be reviewed by the Program Director. Penalties for students found responsible for violations may depend upon the seriousness and circumstances of the violation, the degree of premeditation involved, and/or the student’s previous record of violations. Appeal of a decision may be made to the Dean whose decision will be final. Student appeals will take place through the grievance process outlined in the student handbook.

Using Generative AI When Completing Coursework

Generative AI (GenAI) applications (like ChatGPT) have proven to be powerful and effective tools, and students are encouraged to become familiar with and use them. However, as with any tool, students must use GenAI in ways that support learning, not replace it. Learning to use AI responsibly and ethically is an important skill in today’s society.

In their courses, students are not allowed to use advanced automated tools, such as generative AI tools, on assignments unless explicitly directed to do so. Each student is expected to complete each assignment, including labs and quizzes as applicable, without substantive assistance from others, including automated tools.

Using AI-content generators to complete assignments without proper attribution violates academic integrity. By submitting assignments in UNE courses, you pledge to affirm that they are your own work and you attribute use of any and all tools and sources.

Unauthorized Use

Unauthorized use of AI is treated as a violation of academic integrity.

Citing AI Use

If permitted, students should indicate and cite any use of AI tools. 

Instructor responsibility

Instructors should clearly reiterate, using UNE Online’s Policy, how students can use AI tools in their courses, and communicate this policy to students at the beginning of the semester. 

Student responsibility

Students must follow the academic integrity policy of the University of New England.