Course: Fundamentals of Economics, Essentials of Economics

Required Course Textbook:

• Author: Bradley R. Schiller, Essentials of Economics, 6th Edition. 2007.

Course Description, Objectives, & contents:
This is a survey course of Essentials of Economics. The course examines the allocation of scarce resources and the economic reasoning used by people as consumers, producers, savers, investors, workers, voters, and as government agencies. Key elements include the study of scarcity, supply and demand, market structures, the role of government, national income determination, money, and the role of financial institutions, economic stabilization, and trade.

Evaluation and Determining Course Grade

1. Mid-term Exam 25 %
2. Final Exam 35%
3. Homework 10 %
4. Quizzes 15 %
5. Participation & Attendance 15 %

Academic Honesty

Lack of honesty in the classroom is considered a very serious offense. Any form of cheating on tests, fabrication, facilitating academic dishonesty, turning in work which is not one’s own (plagiarism), talking during tests, furnishing false information to instructors, or knowingly misrepresenting oneself to the college is grounds for disciplinary action. The consequences of cheating are severe and may include expulsion.
You must always submit work that represents your original words or ideas. If any words or ideas used in a class assignment or projects do not represent your original words or ideas, you must cite all relevant sources and make clear the extent to which such sources were used. Words or ideas that require citation include, but are not limited to, all hard copy or electronic publications, whether copyrighted or not and all verbal or visual communication when the content of such communication clearly originates from an identifiable source.

Method of instruction and course requirements

The teaching methodology of the course consists of the following:

• Assigned Readings: Assignments drawn from the course textbook, and outside reading-articles extracted from journals or taken from other books.
• Lectures: Powerpoint presentations designed to clarify the assigned readings, case studies, and handouts. (if needed)
• Class Participation: it includes active participation in materials introduced through subject discussions or personal experience.
• Case Studies: Students will have to prepare and discuss cases in class. Cases will act as a support to the chapter discussed and it will highlight examples from today’s challenges.
• Review Questions: The review questions will be given as homework. This will enable students to understand key points in each chapter.
• Individual Project & Learning Team Project: It is the research and fact-finding assignments, which constitute an integral part of the course, are designed to allow the student to apply course concepts, learn how to interact with the team, and understand the challenges of working in a collaborative environment.

Attendance Policy

1. Attendance in all classes is required. There are no exceptions to this policy. If you are not in class, then you missed the material discussed in class. While students may encounter very extenuating circumstances (sickness of such severity that it prevents the student from attending classes, serious illness or death in the family), the fact that you are not in class means that you have missed the discussed topics.
Participation, Homework, and Quizzes:
Participation is expected during all classes. Students need to read their book chapters ahead of the class. Students need to conduct research related to the material in order to gain an understanding of the subject. Pop up quizzes will be conducted from time to time in class in order to make sure that students have read the material assigned for the class on that date. Students also are expected to have reviewed previous material and last class discussion.
Quizzes cannot be made-up if you miss a class. Missing a class would affect your attendance score. In addition, if a quiz happens during a class in which you were absent, your quiz score will be zero. There are NO EXCEPTIONS. Your Participation, Homework and Quizzes score will be affected because of not being in class during the quiz.

Exams:

1. There will be one midterm exam and one final exam. Each exam will cover the material discussed in class plus reading assignments. Anything that takes place in class to include discussions, videos, guest speakers etc. is testable. The exams will cover the whole material as indicated by the instructor.
2. Exams in this course are typically multiple choice, true/false, and/or short answer questions, essay form and case studies.
3. Students must be present for all exams. Students who miss exams for reasons other than those stated under the special circumstances provided under “Attendance Policy” above will automatically lose points off the make-up exam score for every day or part of a day the exam is not taken.

Course & Reading Schedule:

Attention!
Make sure that you read the chapters assigned for class before you walk into the class. Expect a quiz on the material during the session. The quiz may address previously discussed topics.

Week 1: Introduction
Week 2: Chapter 1: The challenge of Economics
Week 3: Chapter 3: Supply and Demand
Week 4: Chapter 4: Consumer Demand
Week 5: Chapter 5: Supply Decisions
Week 6: Review
Week 7: Chapter 6: Competition
Week 8: Chapter 7: Monopoly
Week 9: Chapter 10: The Business Cycle
Week 10: Review
Week 11: Chapter 11: Aggregate Supply and Demand
Week 12: Review
Week 13: Review
Week 14: Review
Week 15: Final Exam
The schedule and procedures in this course, as outlined in this syllabus, are subject to change in the event of extenuating circumstances and/or as deemed appropriate by the professor.