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Fall 2013 |
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Home Page: |
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Semester Start/End Date: |
August 26 –December 11, 2013 |
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COURSE SYLLABUS
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Business
Economics – MECO 6303 (various sections) |
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Class
Section/ Class Number |
Schedule
& Location |
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MECO 6303.MBP - 89780 |
Mon : 7:00pm-9:45pm: JSOM 2.116 |
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MECO 6303.501 - 84093/ SYSM 6319.501/85761 |
Wed : 7:00pm-9:45pm: JSOM 1.102 |
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MECO 6303.0I1 – 84099 / SYSM 6319.0I186768 |
Online
Class |
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MECO 6303.PS1 -
90267 |
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|Course Information | Communications| Student Assessments| Reading and
Lesson Outline| University Policies Relevant to Students|
I make extensive use of eLearning in all of my courses. You should monitor the course on eLearning frequently for announcements, discussions and supplementary material
Course
Information
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.
2.
Prerequisites: MATH
5304 or equivalent.
3.
Learning objectives:
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Minimal General Learning Outcomes - the ability to |
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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. |
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Analyze the impacts of restricting
markets from reaching the competitive equilibrium through price controls,
taxes, and subsidies. |
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Understand the difference between
monopoly markets and competitive markets. |
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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
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costs and benefits
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and their multiple applications
4). An appreciation of
the role of
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money in the economy
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the dangers of inflation
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the importance of free trade
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the limits of regulation
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the effects of taxes and subsidies of different types
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the workings of the market system is determining earnings
(interest, profits, wages, salaries and rents)
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the modern business firm, its function and its boundaries
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the achievements of the American economic system.
4.
Instructor Information
1). Contact information
Contact information
is:
Email: plewin@utdallas.edu
Phone: 972-883-2729
Office: SOM
3.223, UTD
You can contact me anytime by phone or email,
and see me by appointment in my office.
2).
Instructor brief biography
I was born and grew up in
My wife and I were married in December 1969.
We have four children and nine grandchildren.
To see more about my professional and
personal life visit my website at http://www.utdallas.edu/~plewin/
5.
Course Materials
Required Textbooks and Materials
The official
text book for this course Principles of Economics, 2nd
edition by Timothy Taylor, published by TEXTBOOK
MEDIA. You can get it online.
Here is the information.
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Go to www.textbookmedia.com. Register. It will
take about 60 seconds. You will be taken to My Account.
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You will see “You currently have no
books to view.” To find the Taylor book, click on Booklist.
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Locate the book and click on Pricing
Details. You will have three options for the format (e-book, pdf, and print).
Read the descriptions and make your choice.
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Click on Add to Cart, then Checkout.
Then you’ll see a page for Review Order. Once processed, ebook orders will be
in My Account. Print orders may take up to seven business days, but you’ll have
the online book immediately in My Account.
Ideas in economics can be learned from
multiple sources. I will post supplementary material to complement the text and
the lectures. In addition any basic text may help solidify the fundamentals and
add to insight and understanding. [A good example is Economics by Walter J. Wessels (4th edition is the
latest, any will do), Barron’s 2006, Available here.]
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LESSON # |
TOPICS COVERED |
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Suggested Reading |
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One |
Course Access and Self-Orientation Introduction to Economics –
assumptions and implications- productions possibility curves |
Chapters 1, 2.. |
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Two |
Demand and Supply –
movements along curves vs. shifts of curves. Elasticities of demand and
supply; Engel curves; Market Equilibrium. |
Chapters 4,7 |
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Three |
Economic Policies -
Price controls, taxes and subsidies. Minimum wages, rent controls, consumer
and producer surplus. |
Chapters 5, pages
621-625. |
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Test 1 |
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Four |
Consumer Theory -The isolated consumer,
the consumer in the market. |
Chapter 8 and
appendix. |
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Five |
Producer Theory - Monopoly, competition,
production, revenue and costs |
Chapters 9, 10, 11,
12. |
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Test 2 |
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Six |
Production and Growth –
Growth accounting, the cost of living – price indexes |
Chapters 21-22. |
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Seven |
The Financial System/Macroeconomics - Saving,
investment and financial markets |
Chapters 24-30
(various sections) |
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Test 3 - Final |
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I make extensive use of eLearning in all of my courses. You should monitor the course
on elearning frequently for
announcements, discussions and supplementary material
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 plewin@utdallas.edu. 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 communication tools
shown on the course menu.
Student
Assessment: Grading/Evaluation
There will be two online timed midterms 1
hour each (25%) and a comprehensive final test (50% - 25 questions from the
last third of course, 25 questions from any part of the course - 2 hour limit).
Here is the schedule for all sections except
section PS1 (see the last row of the table).
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Test 1 (covers lessons 1-3) |
25% |
October 4 (12
am) ‐ 6 (11:59 pm) - 1 hour |
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Test 2 (covers lesson 4-5) |
25% |
November
1 (12 am) ‐ 3 (11:59 pm) - 1 hour |
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Test 3 (final, lesson 6-8, 25%, and comprehensive, 25%) |
50% |
December 13 (12
am) ‐ 15 (11:59 pm) – 2 hours |
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For
online students only - discussion participation bonus |
Maximum
5% |
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For section PS1 - Test 1 – December 15-17;
Test 2 – February 15-17; Test 3 – March 16-18. |
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The following are the grades that are
possible to earn in this class.
A, A-, B+, B,
B-, C+, C, and F, X.
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.
Please
note the procedure for dealing with questions and concerns after taking a
test. Once the answers have been released, if you have questions or
concerns (maybe an alternative interpretation of the question yielding a
different answer), compose and email stating clearly your concern or what you
do not understand for each question you wish to discuss and send it to me.
Please reference the question by number and title (if available) and cut and
paste as much of it as you can. I will take all such queries on a first-come/first-serve
basis and get back to you as soon as I can with my answers.
Make-up exams
Make up exams will be given only in exceptional circumstances
Extra Credit
There will be no extra credit assignments
Special Assignments
There are no special assignments
Class Participation
For
the online section only discussion topics will be posted
every few weeks. This will provide an opportunity for students to interact and
deepen their understand of the principles taught in the course. A maximum bonus
of 5% can be earned for this participation based on the quality of the posts.
For all sections: Students are required to login regularly to the
online class site. The instructor can use the tracking feature in eLearning to
monitor student activity.
University
Policies Relevant for Students:
Scholastic
Honesty
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. A link to an online instructional assessment
form will be emailed to you towards the end of the semester.
Online behavior -
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.
Policy on Server Unavailability or Other Technical Difficulties
The
university is committed to providing a reliable online course system to all users.
However, in the event of any unexpected server outage or any unusual technical
difficulty which prevents students from completing a time sensitive assessment
activity, the instructor will extend the time windows and provide an
appropriate accommodation based on the situation. Students should immediately
report any problems to the instructor and also contact the UTD eLearning Help
Desk: http://www.utdallas.edu/elearninghelp, 1-866-588-3192. The instructor and
the UTD eLearning Help Desk will work with the student to resolve any issues at
the earliest possible time.
General policies, including policies
on Academic Honesty and Integrity.
Please go to http://go.utdallas.edu/syllabus-policies for these policies.
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.
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 of the Board of Regents of the University of Texas
System, Part 1, Chapter VI, Section 3, and in Title V, Rules on Student Services and Activities of
the Course Syllabus Page 8, University’s
Handbook of Operating Procedures. 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 (SSB 4.400, 972/883- 6391).
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.
©
Peter Lewin 2013.