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Microeconomics: Course Syllabus & Info by Woodard R. Springstube, Ph.D., Assignments of Microeconomics

The syllabus for an introduction to microeconomics course offered by woodard r. Springstube during the fall, 2008 semester at concordia university austin. The course covers topics such as supply and demand, consumer and firm behavior, competition, market structures, resource markets, market failures, and economic equity. Students are expected to attend class regularly and complete homework assignments, exams, and a term paper.

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Uploaded on 08/17/2009

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Course Syllabus and Information
Woodard R. Springstube, Ph.D.
Fall, 2008
I. Course Number, Title, and Catalog Description
ECO 2302 Introduction to Microeconomics
Microeconomics is the social science that studies the ways individual economic agents
allocate scarce resources to unlimited wants. Topics of the course include introductions
to: Supply and demand, elasticity of supply and demand, consumer behavior, firm
behavior, competition, monopoly, oligopoly, and monopolistic competition, resource
markets, market failures, antitrust policy, and issues of economic equity.
II. Office Hours and Contact Information
Office: C-268
Hours: M 2:00-5:00, TR 2:30-5:00, or by appointment
Phone: (512) 313-5303 (office), (512) 832-6820 (home, use with discretion), and
(512) 413-9451 (cellular).
e-mail: Woodard.Springstube@concordia.edu
III. Mission Statement of the College of Business
The mission of the College of Business is to empower our students to become persons of
influence.
IV. General Objective of the Course
Generally, this course should give students a basic knowledge of and appreciation for the
way that individual economic agents make consumption and production decisions, the
roll of markets in resource allocation, and the various forms of market failure.
V. Course Objectives
A. Understand the basic paradigms of economics and their relationship to economic
analysis.
1. The underlying assumptions of economic analysis
2. Production Possibilities Frontier
3. Economic systems
4. Marginal analysis
B. Basic Consumer Theory
1. Utility maximization, marginal utility, and indifference curves.
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Course Syllabus and Information Woodard R. Springstube, Ph.D. Fall, 2008

I. Course Number, Title, and Catalog Description

ECO 2302 Introduction to Microeconomics

Microeconomics is the social science that studies the ways individual economic agents allocate scarce resources to unlimited wants. Topics of the course include introductions to: Supply and demand, elasticity of supply and demand, consumer behavior, firm behavior, competition, monopoly, oligopoly, and monopolistic competition, resource markets, market failures, antitrust policy, and issues of economic equity.

II. Office Hours and Contact Information

Office: C- Hours: M 2:00-5:00, TR 2:30-5:00, or by appointment Phone: (512) 313-5303 (office), (512) 832-6820 (home, use with discretion), and (512) 413-9451 (cellular). e-mail: Woodard.Springstube@concordia.edu

III. Mission Statement of the College of Business

The mission of the College of Business is to empower our students to become persons of influence.

IV. General Objective of the Course

Generally, this course should give students a basic knowledge of and appreciation for the way that individual economic agents make consumption and production decisions, the roll of markets in resource allocation, and the various forms of market failure.

V. Course Objectives A. Understand the basic paradigms of economics and their relationship to economic analysis.

  1. The underlying assumptions of economic analysis
  2. Production Possibilities Frontier
  3. Economic systems
  4. Marginal analysis B. Basic Consumer Theory
  5. Utility maximization, marginal utility, and indifference curves.

C. Theory of the firm

  1. Short-run Average Total Costs, Average Variable Costs, Marginal Costs, Marginal Revenue, and their effect on firm behavior.
  2. Long-run costs D. Understand the basics of supply and demand analysis and elasticities of supply and demand.
  3. Basic supply and demand, including the Law of Supply and the Law of Demand, the determinants of supply and the determinants of demand, and the market-clearing condition. E. Understand the definition of a market, the different types of market structures, the ways that consumers and firms interact in markets, and the different types of market failures. F. Understand resource markets and derived demand. G. Understand market failures and externalities and the rationale for government intervention. H. Introduction to issues of economic equity, discrimination, and antitrust policy. I. Understanding of ethical/moral issues in microeconomics.

VI. Academic Honesty

In keeping with the Christian values that Concordia University at Austin seeks to portray and instill in students, academic dishonesty in any form will not be tolerated. Academic dishonesty includes, but is not limited to any form of cheating, copying, plagiarism, passing others’ work off as your own, etc. Sanctions will be imposed as outlined in the current catalog and/or Student Handbook.

VII. Learning Activities

Learning activities will include lecture, homework, class discussion, and other activities.

VIII. Attendance Policy

Students are expected to attend class every day. Roll may be taken at any time, and make- up work is at the sole discretion of the instructor. Reasons that will entitle students to make-up work will include university sponsored activities, illness, death in the family, or other emergencies. The instructor should be notified prior to scheduled activities. In the case of true emergencies, please notify the instructor at your earliest convenience, after you have gotten the situation under control.