Course
Description

Microeconomics analyses the decision making of economic units such as households or firms. It shows how consumers, producers, resource owners, and other units in society would behave if they were maximizing the benefit from their activities. Microeconomics also aggregates the activity of individuals into a market Demand or Supply category, and then predicts how their interaction would produce an equilibrium price and quantity exchanged under different types of market circumstances. By doing this we learn to predict equilibrium price and quantity in the market and how the free enterprise system uses prices to determines what, how, and for whom to produce and how the system itself adapts to change.

This course is divided into three parts. The first part, introduces some general principles of economics, discusses models, and sets the foundation for further analysis by investigating how prices are established through Supply and Demand. Part 2, begins with a more in-depth view of Supply and Demand, and examines the price-quantity relationship for the firm and its profitability under various market structures. Part 3, examines the resource rather than the product markets, continues the price-quantity analysis in the firm's acquisition of factors of production, and concludes with a brief presentation of the economic interrelationships among nations.

Methods of Course Instruction

Blackboard course content, text, lecture notes, regular assignment submissions and returns.

Weekly assignments, 2 midterms and a final.

Materials

Required

McConnell, Campbell R & Brue, Stanley L. Microeconomics, 17th edition. New York: McGraw-Hill Book Company, 2008 (paperback)

ISBN: 9780073273099

or

McConnell, Campbell R & Brue, Stanley L. Economics: Principles, Problems and Policies, 17th edition. New York: McGraw-Hill Book Company, 2008

ISBN: 9780073126630

Additional or Optional Materials
Some multiple-choice and essay questions from this manual are used in the course.
Walstad, William B and Bingham, Robert C. Study Guide to Accompany Microeconomics, 17th edition. 2008.

ISBN: 139780073273228


Note: The books for the course are in stock at College Bookstore, (740) 594-3505. Click here for online ordering.

Exams
Requirements

2 midterms and a final - Proctored

How are exams to be taken
Traditional

Dates of Exams
3rd ,6th and 10th week of the quarter.