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Valencia College
Course Syllabus ECO 2023 Principles of Economics-Micro
Summer 2015 May 11th – Aug 4th (Full Term)
CRN 30789 -- 3 Credit Hours
Instructor:
Telephone:
Email:
Dr. Jim Chase
(407) 542-1126 (home phone)
jchase@mail.valenciacollege.edu or
BDJim66@aol.com
Office Hours: Before or after class or by appointment.
Time: Saturday 8AM – 11:20AM
Place: East Campus
Building 8
Room 114
PRINCIPLES OF ECONOMICS-MICRO--Course Description:
Course Description: An introduction to the theories, issues and applications of microeconomic concepts.
The methods of evaluating and gathering factual information concerning the domestic economy will be
emphasized such as: economic thinking, comparative and absolute advantage, elasticity of demand,
market systems, externalities and property rights, supply and demand, consumption, savings,
investment and governments role in the economy.
TEXTBOOK: Colander, David. Microeconomics 9e. McGraw Hill Irwin. 9th edition 2013.
ISBN 0077501802. ISBN-13 9780077501808 NOTE: In case of last minute changes by the
college, use the textbook available for purchase at the Valencia bookstore listed for this
course.
Supplemental Materials:
Dr. Chase maintains a web site where all course materials are in
PDF format. Students can view and download all course
materials. Go to this web site http://drjimchase.com. Your
syllabus is posted on this website!
Major Learning Outcomes:
Course Objectives: To emphasize the study of microeconomic issues such as economic thinking,
comparative and absolute advantage, elasticity of demand, market systems, externalities and property
rights, supply and demand, consumption, savings, investment and governments role in the economy.
COMPETENCIES: This course reinforces the following competencies:
Valencia College Student Competencies:
1. Think critically; make reasoned choices by acquiring, analyzing, synthesizing, & evaluating
knowledge.
2. Read, listen, write, and speak effectively.
3. Understand and use quantitative information.
4. Clarify personal strengths, values and goals in relation to cultural values.
5. Recognize the value of physical and mental health.
CLAST Competencies
a) Reading Skills
b) Essay Skills
c) English Language Skills
d) Logical Reasoning Skills
ECO 2023 Micro-Econ Summer 2015 (Full Term) -- Saturdayday 8 AM CRN 30789 Dr. Jim Chase Page 1 of 6
ATTENDANCE, CLASS PARTICIPATION, CELL PHONES
ABSENCES: Attendance is critical to learning and understanding. Four or more total absences will lead
to an automatic withdrawal from the class. If for any reason you cannot attend class, notify the
instructor beforehand or as soon as possible. Failure to do so will lead to zero points being recorded.
TIMELINESS, TARDINESS, STAY FULL PERIOD: Be on time for class. If you arrive late you miss vital
information which can affect your performance in the course. Stay for the Complete Session: Leaving
the class early or disappearing after the break is unwise. Not only do you fail to benefit from the entire
lesson, points may be subtracted from your grade for failure to attend the entire session.
CLASS PARTICIPATION--PAY ATTENTION IN CLASS: No one is fooled except yourself if you do non-class
related activities in class. Ask questions if you don’t understand a concept. Students who actively
participate do the best in the course.
CELL PHONE POLICY—in class and during testing: Students are required to turn off all cell phones and
pagers before the beginning of class and when in the Testing Center. If a cell phone or pager vibrates or
is audible, the student may be asked to turn it off or leave for the remainder of the class. If there is an
emergency situation warranting the use of a cell phone or pager during class time, the student must
notify the professor in writing prior to the beginning of class. During testing, both in class and at the
testing center, if a cell phone or pager vibrates or is audible, the student’s test, or exam will be
collected and the student will be asked to leave without an option for completion.
WITHDRAWAL POLICY: For a complete explanation of the college’s withdrawal policy, please go to:
http://valenciacollege.edu/generalcounsel/policy/
WITHDRAWAL & NO SHOW DATES
2015 Full Term Courses
Please check the college calendar for “No Show” dates and Add/Drop/Refund and Withdrawal dates.
COLLEGE CLOSED ON THESE DAYS (Credit Classes Do Not Meet)
th
Dates
Memorial Day, May 25
MONDAY ONLY. YOUR CLASS MEETS ON TIME ON SATURDAY.
rd
th
Independence Day, July 3 through July 5 —the entire weekend NO CLASSES THIS WEEKEND
EVALUATION, GRADES, EXAMS, MAKEUPS AND HOMEWORK ASSIGNMENTS
EXAMS: There are three exams in the course, two interim and one final. The exams cover, on average,
three to six chapters and will consist of multiple-choice and true/false questions. The week prior to an
exam, a review of the material will be covered in class. To do well on the exam, attend this review.
GRADES:
Grades will be determined on the following scale:
297 - 330 points
90 - 100% = A
263 - 296 points
80 - 89% = B
229 - 262 points
70 - 79% = C
195 - 228 points
60 - 69% = D
Less than 195 points
0 - 59% = F
3 exams
4 homework assignments
Classroom participation
100 points each = 300
5 points each = 20
10 points
= 10
Total Points
330
If you are failing the course, you will receive a mid-term report.
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MAKE-UP POLICY for Interim Tests – DOES NOT APPLY TO THE FINAL:
If illness, jury duty, or other emergency prevents your taking any of the interim exams on the scheduled
test date, a copy of each test will be in the testing area of the library for five (5) calendar days after
the testing date in the classroom MONDAY THROUGH FRIDAY . It is the student’s responsibility to
make sure they take the test during the required time. Failure to do so may seriously impact your grade.
Tests are arranged by instructor's last names, so know your instructor's last name before you arrive.
IMPORTANT: You must arrive for testing NO LATER than one hour prior to the time the Testing Center
closes based on the official Testing Center clock. If you arrive later than one hour before closing, you
will not be allowed to take the exam that day.
EXAM POLICY FOR THE FINAL EXAM:





YOU MUST BE PRESENT FOR THE FINAL EXAM. The school closes shortly thereafter and grades
close. There is no time for make-up.
Missing the final = 0 for the exam. Your grade will be calculated on existing points..
An incomplete will only be given for emergency reasons. This will result in a WP/WF depending
on your progress in the class.
The FINAL EXAM CANNOT BE TAKEN EARLY unless you petition the Provost in writing well in
advance of the final. The instructor cannot grant this permission.
DO NOT MISS THE FINAL EXAM. The exam is mandatory and must be taken in class at the
normally scheduled class time.
VALENCIA ID CARDS (VID)
Valid ID cards are required for the Library, Testing Center, and IMC usage, preferably a Valencia ID (VID).
The testing center is allowing some alternative IDs such as valid Driver’s License or a UCF ID. Please
check policy at testing center for changes. If you do not have a VID one can be obtained in the Student
Development Office, Building 5, Room 212.
ASSIGNMENTS--HOW TO COMPLETE THEM: There are eight (8) assignments in the course which appear
as questions on the Assignment and Course Schedule on the final pages of this syllabus. Here are the
rules for completing assignments:
1. Assignments must be passed in on time to receive full points, and each question must be fully
answered. One-sentence answers do not suffice.
2. To complete the assignment the student must use material from class lectures combined with
information from the textbook. Use the textbook index when necessary to find related material.
3. Back up statements with facts. Unsubstantiated statements do not qualify as answers.
4. Typed assignments are preferred, but you may handwrite your answers legibly.
5. PROOFREAD your papers. Check spelling and sentence structure for clarity.
EXPECTED STUDENT CONDUCT Valencia College is dedicated not only to the advancement of knowledge
and learning but is concerned with the development of responsible personal and social conduct. By
enrolling at Valencia College, a student assumes the responsibility for becoming familiar with and
abiding by the general rules of conduct. Students who engage in any prohibited or unlawful acts that
result in disruption of a class may be directed by the faculty to leave the class. Violation of any
classroom or Valencia’s rules may lead to disciplinary action up to and including expulsion from
Valencia. Disciplinary action could include being withdrawn from class, disciplinary warning, probation,
suspension, expulsion, or other appropriate and authorized actions. The Student Code of Conduct can
be found at: http://Valenciacollege.edu/generalcounsel/
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ACADEMIC HONESTY:
Each student is expected to do his/her own work. Cheating will not be tolerated and will result in
immediate dismissal. All forms of academic dishonesty are prohibited at Valencia College. Academic
dishonesty includes, but is not limited to, acts or attempted acts of plagiarism, cheating, furnishing false
information, forgery, alteration or misuse of documents, misconduct during a testing situation,
facilitating academic dishonesty, and misuse of identification with intent to defraud or deceive. You
may also reference the Academic Dishonesty policy at:
http://www.Valenciacollege.edu/generalcounsel/
STUDENTS WITH DISABILITIES/ADA
Students with disabilities who qualify for academic accommodations must provide a notification from
the Office for Students with Disabilities (OSD) and discuss specific needs with the instructor, preferably
during the first two weeks of class. The Office for Students with Disabilities determines
accommodations based on appropriate documentation of disabilities. The East Campus Office is l in
Building 5, Room 216.
DISCLAIMER: The instructor reserves the right to make changes to the
syllabus at any time during the course.
Special Note: DO NOT MAKE TRAVEL ARRANGEMENTS THAT PREVENT
ATTENDING THE FINAL. There is no makeup for the final. School closes,
the term ends, and grades must be posted immediately.
Assignment and Course schedule on the following two pages.
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ECO 2023 Principles of Economics-Micro SATURDAY
Weekly Assignments & Course Schedule
NOTE! Some of the questions are not covered in that week’s chapters. They may require that you do some independent
thinking and some research into other chapters on your own. That’s what God made an index for.
Week
Assignment
th
Week One -- May 16
Deadline for withdrawal ADD/DROP/REFUND
th
is May 18 2015 to receive a W
Begin work on Assignment #1.
rd
Week Two – May 23
Begin work on Assignment #2.
Assignment # 1 DUE
Week Three -- May 30
th
Assignment # 2 DUE
Overview, Chapter1, 2
Assignment #1:
 What is Economics?
 Distinguish between microeconomics and
macroeconomics
 Define opportunity cost. Give an example.
 What is the difference between absolute and
comparative advantage?
 Is Economics a science like Chemistry and
Physics?
Chapter 3, 4
Assignment #2:
 Who benefits from an exchange? The buyer or
the seller? Explain.
 How does opportunity cost affect personal
buying decisions?
 Define price ceilings and price floors. Give
examples of both.
 Why is equilibrium not possible in a dynamic (not
government controlled) economy?
Chapters 5,6
Review for Test 1
The Memorial Day holiday does not affect this class.
School is ONLY CLOSED ON MONDAY!
th
Week Four – June 6
Test #1
th
Week Five -- June 13
Begin work on Assignment #3
Chapter 7, 8
Assignment # 3:

Define fixed costs and variable costs.

What are considered fixed costs and variable costs?

Define marginal utility.

Define diminishing marginal utility?

What are the differences between proprietorships,
partnerships, and corporations?
ECO 2023 Micro-Econ Summer 2015 (Full Term) -- Saturdayday 8 AM CRN 30789 Dr. Jim Chase Page 5 of 6
Week continued
Saturday
th
Week Six -- June 20
Assignment # 3 is Due
Begin work on Assignment #4
th
Week Seven – June 27
Assignment continued
Chapter 9, 10
Assignment # 4:
 What are accounting profits and economic profits?
 Define explicit and implicit costs
 Define fixed costs and variable costs.
 What are considered fixed costs and variable costs?
Chapter 11, 12
Review for Test # 2
Assignment #4 DUE
th
Week Eight -- July 4
School closed for 4th of July weekend.
SCHOOL CLOSED FOR INDEPENDENCE DAY
WEEKEND
th
Week Nine -- July 11
Test #2
Week Ten – July 18
th
Chapter 13, 14
th
Week Eleven -- July 25
Chapter 16
Review for Final Exam
st
Week Twelve -- August 1
FINAL EXAM
The final exam takes place at regular class time in
the regular classroom.
Special Note: DO NOT MAKE TRAVEL ARRANGEMENTS
THAT PREVENT ATTENDING THE FINAL. There is no
makeup for the final. School closes. The term ends,
and grades must be posted immediately.
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