
MECO6303 - BUSINESS ECONOMICS COURSE
SYLLABUS
School of
The
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Information | Communications| Course Schedule| Student
Assessments| Reading and Lesson Outline| University
Policies Relevant to Students|
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Course: |
MECO6303 - Business Economics, Spring 2008 |
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Instructor: |
Peter Lewin |
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Sections Call Numbers: |
501 and 502 12507 and 13392 |
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Home Page: |
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Course Start/End Date: Final exam: |
Jan. 7 – April 28, 2007 May 1, 2008 |
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
·
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.
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 two
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 is Business Economics by Steven E.
Landsburg and N. Gregory Makiw (Southwestern: 2005) ISBN # 0-324-33890-2. (It
is a custom book from the publisher.)
Ideas in
economics can be learned from multiple sources. I will post supplementary
material to complement the text and the lectures. In edition 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.
Textbooks
and other materials can be often be ordered online through, MBS Direct Virtual
Bookstore or Off-Campus Books web ordering site. They are also available
when in stock at UTD Bookstore and Off-Campus Books.
I make extensive use of WebCT in all of my courses. You should monitor the
course on WebCT 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 Collaboration tool shown on the course menu.
Course Outline/Schedule
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Course |
Number |
Section |
Call Number |
Title |
Days |
Start |
End |
Room |
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MECO |
6303 |
501 |
12507 |
TR |
5:30
p.m. |
6:45
p.m. |
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MECO |
6303 |
502 |
13392 |
R |
7:00
p.m. |
9:45
p.m. |
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Week of Tuesday/Thursday |
Coverage Lesson # |
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1 |
8, 10-Jan |
One |