
MECO6303 - BUSINESS ECONOMICS COURSE
SYLLABUS
School of
The
|Course
Information | Communications| Course Schedule| Student
Assessments| Reading and Lesson Outline| University
Policies Relevant to Students|
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Course: |
MECO6303 - Business Economics, Summer 2009 |
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Instructor: |
Peter Lewin |
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Section Call Number: |
5U1 10142 |
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Home Page: |
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Course Start/End Date: Final exam: |
May 26 – Aug. 3, 2009 August 11, 2009 |
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 six
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 Mankiw (any of three editions see below). (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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Week |
Week of Tuesday |
Coverage Lesson # |
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1 |
26-May-09 |
One, Two |
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2 |
2-Jun-09 |
Two |
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3 |
9-Jun-09 |
Three |
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4 |
16-Jun-09 |
Three |
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June
19 - 21 Online* |
Test 1* |
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5 |
23-Jun-09 |
No Class |
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6 |
30-Jun-09 |
Four |
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7 |
7-Jul-09 |
Five |
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July
10 – July 12, Online* |
Test 2 * |
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8 |
14-Jul-09 |
Six |
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9 |
21-Jul-09 |
Seven |
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10 |
28-Jul-09 |
Eight |
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4-Aug-09 |
No
Class |
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11 |
11-Aug-09 |
Final Exam in class |
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*Online Testing: All tests require the use of the Lockdown
Browser instead of your usual browser. 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 |
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Student
Assessment: Grading/Evaluation
There will
be two online timed midterms 1 hour each (25%) and an on-campus comprehensive
final test (50% - 25 questions from the last third of course, 25 questions from
any part of the course).
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Test 1
(covers lessons 1-3) |
25% |
June 19 - (12 am) – June 21 (11:59 pm) Online -
1 hour
time limit |
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Test 2
(covers lessons 4-5) |
25% |
July 10 (12 am) –
July 12 (11:59 pm) Online - 1 hour time limit |
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Test 3
(final, comprehensive) |
50% |
August 11 in class normal time - 2 hour time limit |
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.
Reading and Lesson Outline
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LESSON # |
TOPICS COVERED |
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SUGGESTED READING |
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ISBN
978-0-324-61699-6 (2008
edition)
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ISBN 0-324-34573-9 (2007 edition)
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ISBN 0-324 -33890-2 (2006 edition)
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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. |
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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. |
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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 |
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Test 1 |
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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 |
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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 |
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Test 2 |
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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 |
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Seven |
The Financial System - Saving,
investment and financial markets (two parts: part A and part B) |
Chapter 23, 25. |
Chapter
20 |
Chapter 20 |
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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 |
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Test 3 - Final |
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University Policies Relevant
to Students:
Student Conduct &
Discipline
The
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 and
Scholastic Dishonesty
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.
The
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
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
(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.
These descriptions and timelines are subject
to change at the discretion of the Professor.
© Peter Lewin 2009.