Faculty Contact Information

ECON203 Syllabus

Course Title Principles of Microeconomics Term TERM 1, 2006/2007 Education Center ADANA Faculty Member Nejat Erk - [email protected]

Faculty Contact Information: [email protected] 3387295 Downtown Adana Course Materials:

Microeconomics Edition: 16th w/DVD, Study Guide & Web Access Code Publisher: McGraw Author: McConnell and Brue ISBN: 0-07-711148-6 Course Description:

Recommended: ECON 201. Analysis of the principles underlying the behavior of individual consumers and business firms. Topics include problems of international trade and finance, distribution of income, policies for eliminating poverty and discrimination, problems of environmental pollution, and effects of various market structures on economic activity. Course Goals/Objectives:

After successfully completing this course, the student will be able to:

* explain the risks and rewards of the market * demonstrate the concepts of price theory relevant to management, strategy development, and financial planning * analyze market examples and applications to simulate realistic business experience * describe how equilibrium price is determined in a free market through the interaction of supply and demand * discuss the dynamics of income distribution and resource allocation * explain the importance of the regulatory role of the government

Cross Curricular Initiatives In addition to these learning objectives, this course also concentrates on UMUC's cross-curriculum initiatives, detailed below, designed to help UMUC students build skills to enhance their careers and overall effectiveness in their employment.

Effective writing. There are numerous writing assignments throughout the semester. Those assignments are expected to reflect appropriate professional writing skills. That is, they will be evaluated on the basis of grammar, sentence structure, spelling, and overall sound writing principles. At least 10 percent of your grade on each writing assignment will be based on your proficiency in expressing yourself in writing.

Information literacy. You will be expected to demonstrate proficiency at research activity through the library and use of online sources.

Globalization. An important outcome of this course will be the realization that microeconomic principles apply to global situations.

Computerization. The computer has virtually altered the way microeconomic research is conducted. This course will emphasize the increasing use of the computer in microeconomics.

Historical Perspective. This course will integrate the historical development of theory to provide the student with a context for current theories and practice.

Civic Responsibility. Ethical behavior and role of microeconomics in society will be explored in this course. Course Introduction:

This class is concerned with the economic method and the fruits of that method. We will start with a description of the tools of economics, such as basic definitions, science, logic, and some math. The tools will be discussed in sufficient detail for students to gain a solid background to continue with the class.

Your study of economics will then move into an extended discussion of consumer behavior and the law of demand, producer behavior and the law of supply, the firm's behavior in competitive and imperfectly competitive markets, resource markets, and market failures.

By applying our economic tool kit, we will be able to analyze and better understand such issues as profit maximizing behavior, the benefits of competition, as well as address concerns over pollution, resource depletion, income inequality, and government regulation. Grading Information and Criteria:

= 90-100% B = 80-89% C = 70-79% D = 60-69% F = below 60%

There will be 7 weekly quizes which will make 50 percent of the total grade and the final will make the 0ther 50 percent of the total grade. Other Information:

The student is responsible for all material assigned in the text as well as material covered only in the classroom. In case of a marginal grade, class participation will be used. In case the classes are canceled on an exam date, the exam will be administered in the following class.

Make-Up Policy: If you are ill or must be out of town during an exam, you must make prior arrangements concerning the exam or you will receive a zero on that exam. The professor reserves the right to change the format and level of difficulty of the make-up exam.

Attendance Policy: The study of economics is cumulative in the sense that concepts learned are applied in subsequent classes. Students should read the assigned chapters prior to coming to class and be prepared to discuss the assigned material in class. The nature of the material is such that if you don't attend class regularly, you will have difficulty passing. Project Descriptions:

No projects assigned Academic Policies:

Cases of plagiarism are handled consistent with current UMUC guidelines. See the UMUC policies at the following URL: http://www.umuc.edu/policy/ Course Schedule:

Students should review the end-of-chapter terms and Study Questions. Several of the text questions & problems will be gone over in class. Many of the exam questions are based on the same types in the textbook, or come from the handout materials.

Weekly Covered Chapters 1. Chapter 1 & 2 2. Chapter 3 & 4 3. Chapter 5 & 6 4. Chapter 7 & 8 5. Chapter 9 & 10 6. Chapter 11 & 12 7. Chapter 13 and Review 8. Review and Final Faculty Bio:

Have been with UMUC since 1985 Member of Quality Culture and Acreditation Committee in EU Universities 2004-06 UMUC teaching Excellence Award 2000 Research Award, Europoean Union, Brussels, 1996 First Prize, Inflation Impacts on Turkish banking Sector 1998 B.S. Ankara Academy of Economics and Commercial Sciemces 1971 M.S. Arizona State University 1974