| Course
Information | Technical Information |
Student Resources | Communications
| Assessments | Course Outline | Scholastic
Honesty | Course Evaluation | UTD Policies |
|
|
Course Information Course Number/Section Course Title Term and Dates |
MECO6303.0T1 Economic Analysis / Business Economics Fall 2009, Aug. 20 – Dec. 7,
2009 |
Professor Contact
Information
Professor
Peter Lewin
Office
Phone
972-883-2729
Email
Address
plewin@utdallas.edu
Office
Location
SOM 3.223,
UT Dallas
Mailing
Address
P.O. Box 830688, SM 31, Richardson,
TX 75083-0688
Online Office
Hours You can contact me anytime by phone or
email.
(You may contact me using the Mail
facility provided for this course. See the explanation under Communications
below. )
Course
Pre-requisites, Co-requisites, and/or Other Restrictions
MATH 5304 or equivalent.
Course Description
Economics is about the ordinary business
of life and it is also the basis for many courses in Business. It also
contains much of the conceptual material necessary for an intelligent
understanding of business life. The approach in this course to the teaching of
economic principles is to try to ensure that students acquire the necessary
conceptual apparatus in a way that is both challenging and interesting. This is
done by attempting to ensure that the material is presented in a lively,
interesting and relevant fashion. We will constantly use current real world
examples to illustrate the application of concepts.
Catalogue
Description.
Business Economics (3 semester hours)
Foundations of the economic analysis of business problems, with special
emphasis on the function and determination of market prices in production and
consumption. Supply and demand, price theory, production theory, trade theory
with reference to the global economy, the effects of tax and other policies in
the economy, and essential elements of the banking system and monetary policy
are addressed.
Student Learning
Objectives/Outcomes
|
Minimal General Learning Outcomes - the ability to |
|
· Understand and be able to apply the concepts of supply and demand, equilibrium, and the factors that shift supply and demand to analyze the behavior of real markets when conditions change. |
|
·
Analyze
the impacts of restricting markets from reaching the competitive equilibrium
through price controls, taxes, and subsidies. |
|
·
Understand
the difference between monopoly markets and competitive markets. |
|
·
Understand
the nature of production in the modern economy. Be able to identify the
profit maximizing price and the relationship between different types of cost. |
I would like students to take away
from this course at least the following:
1.
An
appreciation of the power of economic reasoning for understanding current
events
2.
A
facility for analyzing everyday economic problems using basic economic analysis
3.
An
understanding of the concepts of
·
supply
and demand
·
costs
and benefits
·
and
their multiple applications
4.
An
appreciation of the role of
·
money
in the economy
·
the
dangers of inflation
·
the
importance of free trade
·
the
limits of regulation
·
the
effects of taxes and subsidies of different types
·
the
workings of the market system is determining earnings (interest, profits,
wages, salaries and rents)
·
the
modern business firm, its function and its boundaries
·
the
achievements of the American economic system
Required Textbooks
and Materials
Required Texts
The text book is "Business Economics"
by Steven E. Landsburg and N. Gregory Makiw (Southwestern: 2005) ISBN #
0-324-34573-9. You can also use ISBN # 0-324 -33890-2 (It is a custom book from
the publisher.)
Textbooks and other materials can be
ordered online through, MBS Direct Virtual Bookstore or Off-Campus Books web ordering site. They are also available
in stock at UTD Bookstore and Off-Campus Books.
Instructor
Information
Instructor brief biography
I was born and grew up in Johannesburg
, South Africa. I received a BA (honors) degree in Economics and History from
the University of the Witwatersrand in Johannesburg in 1969. In September 1972,
after teaching at the business school at that University, I left to study at
the University of Chicago. I received a Ph.D. in Economics from the University
of Chicago in 1979. I was fortunate to have as teachers at least four Nobel
prize winners. In January 1979 I moved with my family to Dallas, where we have
lived ever since. After seven years as an academic, I tried my hand in an
entrepreneurial venture and joined a friend in a startup business called Soft Warehouse.
Today it is called CompUSA. I was one of its founding shareholders. It was a
difficult but very educational experience. In 1992 I decided to return to
academics and have been with the UTD School of Management since 1997. I love my
job. I have a passion for teaching and for economics.
My wife and I were married in December
1969. We have four children and two grandchildren.
To see more about my professional and
personal life visit my website at http://www.utdallas.edu/~plewin/
·
Technical
Requirements and Technical Support Information
·
Additional
tool you may need for this course is a zip file expansion tool such as: Winzip or Stuffit
Expander
Student Resources
·
UT TeleCampus Student Handbook
·
Online Learning Assistance - Smart Thinking
·
UT
TeleCampus Digital Library
·
UT TeleCampus Student Service Support and Technical Support
Interaction with Instructor: I
will communicate with students mainly through the Discussion Boards and
Course Announcements. Students may send personal concerns or questions to
me using the course Email tool. I will reply to student emails or Discussion
Board messages within 3 working days under normal circumstances.
Interaction with other students: You
may communicate and interact with other students using either email, discussion
board or the Collaboration tool shown on the course menu.
Student Assessments:
Grading/Evaluation
There will be three online tests, two
timed midterms (25%) and a comprehensive final (50%). The tests will be
composed of multiple choice questions. In addition 5% can be added to
your grade by participation.
|
Test 1 (covers lessons 1-3) |
25% |
Sept. 18 - 20 |
|
Test 2 (covers lessons 4-5) |
25% |
Oct. 23 - 25 |
|
Test 3 (final, comprehensive) |
50% |
Dec. 4 - 6 |
|
Bonus for class participation |
5% |
|
Class Participation (up to a possible
5% bonus added to your score)
You may participate in class discussion by following the discussions on the “Discussions
Boards” link on your course menu (on the left side of the screen). I will
create and manage a series of separate discussion topics and questions at
different points during the semester. Discussion on particular topics will be
open for only a limited time period. So, you should watch for current and new
topics. I encourage you to post questions or comments on the topics (this is a public
space, so everyone will see your posting). You will be rewarded for evidence
that you understand the material and that suggests good thinking. You will not
be rewarded for postings that do not fall into this category – and you could be
penalized for subjecting me and your fellow classmates to postings that are a
waste of time. So keep your postings short and make sure they have some value.
In addition to providing you with the
possibility of earning a bonus, the discussions will prepare you for the tests.
So I urge you to at least read the discussions and my replies as part of your
learning and preparation.
To ask general questions, or make a
general comment – related to the course in general and not to a specific topic –
make use of the topic space entitled “Questions for Peter Lewin.”
Remember everyone in the class will see these, so use this space for
communications that may be of interest to everyone. To communicate with me
privately, on topics of interest or pertinent only to you, please use the “Send
Email” link on your course menu (on the left side of the screen). To keep
abreast of the latest topics and on announcements relating to the course –
which could include supplementary course information – be sure to consult the “Announcements”
link on your course menu (on the left side of the screen.
Online Testing
You can access tests by clicking the
"Tests" link on the course menu and then clicking the available test
title links. Each test is timed and can only be accessed once within the
scheduled time window. Please read the on-screen instructions carefully before
you start the test. You may review your test results after the test results are
released.
All tests must be completed within the
scheduled 3-day time window. No make-up tests will be allowed.
Grades
You can check your grades by accessing the “Student Gradebook” on the
course menu.
The following are
the grades that are possible to earn in this class.
A, A-,
B+, B, B-, C+, C, X and F.
The actual grade
distribution for each test will be determined by the total class performance. I
will publish a grade distribution, linking scores to grades, after each test
and for the course as a whole.
Class Participation
Students are required to login
regularly to the online class site. The instructor will use the tracking
feature in WebCT to monitor student activity. Students are also required to
participate in all class activities such as discussion board activities, chat
or conference sessions and group projects.
Virtual Classroom Citizenship
The same guidelines that apply to
traditional classes should be observed in the virtual classroom environment.
Please use proper netiquette when interacting with class members and the
professor.
|
LESSON # |
TOPICS
COVERED |
SUGGESTED
READING |
||
|
ISBN
978-0-324-61699-6 (2008 edition)
|
ISBN 0-324-34573-9 (2007 edition)
|
ISBN 0-324 -33890-2 (2006 edition)
|
||
|
One |
Course Access
and Self-Orientation Introduction to
Economics
– assumptions and implications- productions possibility curves (two parts:
part A and part B) |
Chapter
19. Pages 258-259. |
Pages 477-490; 291-297,
Chapter 4. |
Pages 477-490;
291-297, Chapter 2. |
|
Two |
Demand and Supply – movements along
curves vs. shifts of curves. Elasticities of demand and supply; Engel curves;
Market Equilibrium. (Three parts: part
A, part B and part C) |
Chapter
1 |
Pages 1-17; 188
-189. |
Pages 1-17; 188
-189. |
|
Three |
Economic Policies - Price controls,
taxes and subsidies. Minimum wages, rent controls, consumer and producer
surplus. (two parts: part A
and part B) |
Chapter 8 (through
page 251). Appendix
to Chapter 8. Chapter 9. |
Pages 17-25; 229
-263 |
Pages 17-25; 229
-263 |
|
|
Test 1 (Sept. 18 - 20) |
|
|
|
|
Four |
Consumer Theory -The isolated
consumer, the consumer in the market (two parts: part A and part B) |
Chapters
3, 4. |
Chapters 2, 3 |
Chapters 3, 4 |
|
Five |
Producer Theory - Monopoly,
competition, production, revenue and costs (four parts: parts
A - D) |
Chapters
5, 6 7, 10. |
Chapters 7, 10 |
Chapters 7, 10 |
|
|
Test 2 (Oct. 23 - 25) |
|
|
|
|
Six |
Production and
Growth
– Growth accounting, the cost of living – price indexes (three parts: part
A, B and C) |
Chapter
6, 21, 22. |
Chapter 6, 18, 19 |
Chapter 6, 18, 19 |
|
Seven |
The Financial
System -
Saving, investment and financial markets (two parts: part A and part B) |
Chapter
23, 25. |
Chapter 20, 22. |
Chapter 20, 22 |
|
Eight |
The International
Economy - Topics
in international trade and finance (two parts: part A
and part B) |
Chapters
2, 24. |
Chapters 17, 21 |
Chapters 17, 21 |
|
|
Test 3 - Final (Dec. 4 - 6) |
|
|
|
The University has
policies and discipline procedures regarding scholastic dishonesty. Detailed
information is available on the UTD Judicial Affairs web page. All students are expected to
maintain a high level of responsibility with respect to academic honesty.
Students who violate University rules on scholastic dishonesty are subject to
disciplinary penalties, including the possibility of failure in the course
and/or dismissal from the University. Since such dishonesty harms the
individual, all students and the integrity of the University, policies on
scholastic dishonesty will be strictly enforced.
As required by UTD
academic regulations, every student must complete an evaluation for each
enrolled course at the end of the semester. An online instructional assessment
form will be made available for your confidential use. Separately students will
also submit a course evaluation required by UTTC. Please check course
Announcement area for course evaluation access information towards the end of
the course.
Student Conduct
& Discipline
The University of
Texas System and The University of Texas at Dallas have rules and regulations
for the orderly and efficient conduct of their business. It is the responsibility of each student and
each student organization to be knowledgeable about the rules and regulations
which govern student conduct and activities.
General information on student conduct and discipline is contained in
the UTD publication, A to Z Guide,
which is provided to all registered students each academic year.
The University of Texas
at Dallas administers student discipline within the procedures of recognized
and established due process. Procedures
are defined and described in the Rules
and Regulations, Board of Regents, The
A student at the
university neither loses the rights nor escapes the responsibilities of
citizenship. He or she is expected to
obey federal, state, and local laws as well as the Regents’ Rules, university
regulations, and administrative rules.
Students are subject to discipline for violating the standards of
conduct whether such conduct takes place on or off campus, or whether civil or
criminal penalties are also imposed for such conduct.
Academic Integrity
The faculty expects
from its students a high level of responsibility and academic honesty. Because the value of an academic degree
depends upon the absolute integrity of the work done by the student for that
degree, it is imperative that a student demonstrate a high standard of
individual honor in his or her scholastic work.
Scholastic
dishonesty includes, but is not limited to, statements, acts or omissions
related to applications for enrollment or the award of a degree, and/or the
submission as one’s own work or material that is not one’s own. As a general rule, scholastic dishonesty
involves one of the following acts:
cheating, plagiarism, collusion and/or falsifying academic records. Students suspected of academic dishonesty are
subject to disciplinary proceedings.
Plagiarism,
especially from the web, from portions of papers for other classes, and from
any other source is unacceptable and will be dealt with under the university’s
policy on plagiarism (see general catalog for details). This course will use the resources of
turnitin.com, which searches the web for possible plagiarism and is over 90%
effective.
Email Use
The University of Texas at Dallas recognizes the value and
efficiency of communication between faculty/staff and students through
electronic mail. At the same time, email raises some issues concerning security
and the identity of each individual in an email exchange. The university encourages all official student
email correspondence be sent only to a student’s U.T. Dallas email address and
that faculty and staff consider email from students official only if it
originates from a UTD student account. This allows the university to maintain a
high degree of confidence in the identity of all individual corresponding and
the security of the transmitted information.
UTD furnishes each student with a free email account that is to be used
in all communication with university personnel. The Department of Information
Resources at U.T. Dallas provides a method for students to have their U.T.
Dallas mail forwarded to other accounts.
Withdrawal from Class
The administration of this institution has set
deadlines for withdrawal of any college-level courses. These dates and times
are published in that semester's course catalog. Administration procedures must
be followed. It is the student's responsibility to handle withdrawal
requirements from any class. In other words, I cannot drop or withdraw any
student. You must do the proper paperwork to ensure that you will not receive a
final grade of "F" in a course if you choose not to attend the class
once you are enrolled.
Student Grievance
Procedures
Procedures for
student grievances are found in Title V, Rules on Student Services and
Activities, of the university’s Handbook
of Operating Procedures.
In attempting to
resolve any student grievance regarding grades, evaluations, or other
fulfillments of academic responsibility, it is the obligation of the student
first to make a serious effort to resolve the matter with the instructor,
supervisor, administrator, or committee with whom the grievance originates
(hereafter called “the respondent”).
Individual faculty members retain primary responsibility for assigning
grades and evaluations. If the matter
cannot be resolved at that level, the grievance must be submitted in writing to
the respondent with a copy of the respondent’s School Dean. If the matter is not resolved by the written
response provided by the respondent, the student may submit a written appeal to
the School Dean. If the grievance is not
resolved by the School Dean’s decision, the student may make a written appeal
to the Dean of Graduate or Undergraduate Education, and the deal will appoint
and convene an Academic Appeals Panel.
The decision of the Academic Appeals Panel is final. The results of the academic appeals process
will be distributed to all involved parties.
Copies of these
rules and regulations are available to students in the Office of the Dean of
Students, where staff members are available to assist students in interpreting
the rules and regulations.
Incomplete Grade
Policy
As per university
policy, incomplete grades will be granted only for work unavoidably missed at
the semester’s end and only if 70% of the course work has been completed. An incomplete grade must be resolved within
eight (8) weeks from the first day of the subsequent long semester. If the required work to complete the course
and to remove the incomplete grade is not submitted by the specified deadline,
the incomplete grade is changed automatically to a grade of F.
Disability Services
The goal of
Disability Services is to provide students with disabilities educational
opportunities equal to those of their non-disabled peers. Disability Services is located in room 1.610
in the Student Union. Office hours are
Monday and Thursday, 8:30 a.m. to 6:30 p.m.; Tuesday and Wednesday, 8:30 a.m.
to 7:30 p.m.; and Friday, 8:30 a.m. to 5:30 p.m.
The contact
information for the Office of Disability Services is:
The University of Texas
at Dallas, SU 22
PO Box 830688
Richardson, Texas
75083-0688
(972) 883-2098
(voice or TTY)
Essentially, the law
requires that colleges and universities make those reasonable adjustments
necessary to eliminate discrimination on the basis of disability. For example, it may be necessary to remove
classroom prohibitions against tape recorders or animals (in the case of dog
guides) for students who are blind.
Occasionally an assignment requirement may be substituted (for example,
a research paper versus an oral presentation for a student who is hearing
impaired). Classes enrolled students
with mobility impairments may have to be rescheduled in accessible
facilities. The college or university
may need to provide special services such as registration, note-taking, or
mobility assistance.
It is the student’s
responsibility to notify his or her professors of the need for such an
accommodation. Disability Services
provides students with letters to present to faculty members to verify that the
student has a disability and needs accommodations. Individuals requiring special accommodation
should contact the professor after class or during office hours.
Religious Holy Days
The
The student is encouraged to notify the instructor or
activity sponsor as soon as possible regarding the absence, preferably in
advance of the assignment. The student,
so excused, will be allowed to take the exam or complete the assignment within
a reasonable time after the absence: a period equal to the length of the absence,
up to a maximum of one week. A student who notifies the instructor and
completes any missed exam or assignment may not be penalized for the absence. A
student who fails to complete the exam or assignment within the prescribed
period may receive a failing grade for that exam or assignment.
If a student or an instructor disagrees about the nature of
the absence [i.e., for the purpose of observing a religious holy day] or if
there is similar disagreement about whether the student has been given a
reasonable time to complete any missed assignments or examinations, either the
student or the instructor may request a ruling from the chief executive officer
of the institution, or his or her designee. The chief executive officer or
designee must take into account the legislative intent of TEC 51.911(b), and
the student and instructor will abide by the decision of the chief executive
officer or designee.
Off-Campus
Instruction and Course Activities
Off-campus, out-of-state, and foreign instruction and
activities are subject to state law and University policies and procedures
regarding travel and risk-related activities.
Information regarding these rules and regulations may be found at the
website address given below. Additional information is available from the office
of the school dean. (http://www.utdallas.edu/BusinessAffairs/Travel_Risk_Activities.htm)
These descriptions
and timelines are subject to change at the discretion of the Professor.
MECO 6303.0T1 ©
2009 - Dr. Peter Lewin, plewin@utdallas.edu