This is a general syllabus for your information. To receive the one for your specific class call your instructor.

Microeconomic Principles (ECO 220)

Prof. Ali A. Ataiifar

Office: #3311

Office Hours: By appointment

Phone: (610) 359-7360

E-mail: aataiifa@dccc.edu*

Web Address: www.dccc.edu

Welcome to the Telecourse (Independent Study). The purpose of this letter is to inform you of your responsibilities and the steps you have to take to complete this course successfully. Although the course is designed to be completed mostly on your own, the material covered is the same as the courses that meet two or three times a week. To succeed, you must meet the deadlines set for taking the exams, turning in the term papers, homework assignments, if any, completing the computer work, and viewing the Video Tapes.

TO COMPLETE THIS COURSE YOU ARE REQUIRED TO:

1. Watch the Video Tapes: ECONOMICS U.S.A. These tapes are put on reserve in the library. They are not to be taken out of the library. The contents of the tapes will also be broadcast by the Public Broadcasting System (PBS) Channel 12. For additional information on the video tapes and the timing of the broadcast, contact the Instructional Media Services of the college at 359-5158.

2. Read the assigned chapters and answer the end of the chapter questions as indicated in the course outline. These questions are considered as homework and therefore are for practice purpose. You do not have to turn them in.

Computer Labs are located on the Fourth Floor in Room 4270.

3. Take the exams. There are three exams.

During the exam dates, given below, you must go to the Learning Center (Room 4260) to take the test covering the chapters indicated in your course outline. Go in to the Learning Center, walk up to the front desk, give your name and student I.D. card, sign the list and ask for the Macroeconomics test for the "Telecourse Study." After you are done, turn in the test to the Learning Center staff. All exams must be taken on the main campus. BE SURE YOUR NAME IS ON THE TEST, THE ANSWER SHEET, AND YOUR HOMEWORK.

4. Call or contact me by e-mail for any questions and appointments.

Call the Learning Center at 359-5076 to inquire about their opening hours. You must be there at least two hours before their closing time. This will give you sufficient time to take the exam.

IF YOU DECIDE TO WITHDRAW FROM THE COURSE, YOU HAVE TO CONTACT THE RECORDS OFFICE AND FILL OUT THE APPROPRIATE FORMS FOR THIS PURPOSE, OTHERWISE YOU WILL AUTOMATICALLY RECEIVE A FAILING GRADE, i.e. "F".

Students with Disabilities
Students needing accommodations in this class due to a learning, physical or pyschological disability, please see me to discuss your accommodation letter. If you have not arranged accommodations, you must contact Ann Binder, Director of Special Needs Services, in the Career and Counseling Center (room 1320, 610-325-2748).

*You can access my web-site through the College's web address

**Computerized questions are different from Homework assignments. The results for each chapter must indicate 100% correct answers.

RECOMMENDED MATERIALS:

1. Robert L. Heilbroner, The Worldly Philosophers, Touchstone Books. 1986, 6th e

2. William Greider, Secrets of the Temple, Simon & Schuster Publishers, 1987.

3, Lester Thurow, Head to Head, Morrow Publs., 1992**

4. Read, on a regular basis, a financial magazine or newspaper such as "The Wall Street Journal" or "Fortune" magazine. See your instructor for the subscription forms.

Successful completion of this course should enable the student to verbally, graphically and mathematically:

• Explain how elasticity and utility modify goods allocations.
• Relate short-run and long-run costs to the production decisions of firms.
• Distinguish and comparatively evaluate perfect competition, monopoly, monopolistic competition and oligopoly in terms of cost curves, profit maximizing and economic goals.
• Show how the factor markets are affected by supply, demand, economic rent, interest, and profit..
• Explain market failure through the interaction of public and private sectors of the economy where externalities, public goods, poverty, and growth are involved.
• Assess the significance of international trade and finance for the U.S. and world economies.

PREREQUISITE: Developmental Mathematics (MAT. 060) or equivalent placement test score.

Back To Top

90-100 A

80-89 B

70-79 C

60-69 D

Below 60 F

1. The Nature and Method of Economics

Read Chapter 1;

Appendix to Chapter 1: Graphs

2. The Economizing Problem

Scarcity-Choice-Opportunity Costs

Read Chapter 2;

3. Demand and Supply

Law of Demand; Law of Supply;

Market Equilibrium;

Read Chapter 3;

1. Price elasticity of Demand/Supply

Read chapter 7;

2. Consumer Behavior

Theory of Consumer choice

Law of Diminishing Marginal Utility

Read Chapter 8;

3. The Costs of Production

Economic Costs and Accounting Costs

Explicit Costs and Implicit Costs

Economic Profits and Normal Profits

Read Chapter 9;

Pure Competition

Profit Maximization: in the Short & Long Run

Read Chapter 10;

5. Price and Output Determination

Pure Monopoly

Barriers to Entry and Economies of Scale

Read Chapter 11;

6. Price and Output Determination

Monopolistic Competition

Non-price Competition

Read Chapter 12;

7. Price and Output Determination

Oligopoly

Mutual Interdependence

Four Oligopoly Models

Read Chapter 13;

1. Production and the Demand for Resources

Marginal Productivity Theory of Resource Demand

Read Chapter 14;

1. Comparative Advantage and Protectionism

Read Chapter 24;

2. Exchange Rates, The Balance of Payments, and Trade Deficit

Read Chapter 25;

* This is a non-technical book with no graphs or mathematical formulas. It talks about the lives, times and ideas of the great economic thinkers.

** This book provides a thorough analysis of competition between U.S. and Japan’s economy.

*** These questions are Homework assignments and must be turned in when you go to the Learning Center to take the test for the designated chapters.

If there is one area that appears to give the beginning economics student more trouble than any other, it is the subject of graphs. It is true that economists make extraordinary use of "graphs" in the learning process, and the reason for this is not readily apparent to most students. Graphs are learning aids, crutches to assist you in the learning process. That they are an impediment to many students is, therefore, something of an irony.

Can economics be mastered without graphs? Sure, but not without great sacrifice of time and energy. So approach the use of graphs as a potentially valuable learning device, and master the concept early. It will pay dividends.

We will review only the basics of graphs, but that should be sufficient to reduce (or even remove) any fear you may have about the construction or interpretation of graphs.