GENERAL EDUCATION COURSE PROPOSAL
WEBER STATE UNIVERSITY

    SOCIAL SCIENCE

 

 

Area:  SOCIAL SCIENCE

                                               

Date:   9/26/2011

 

College:  Business and Economics

 

Department:  Economics

 

Catalog  Abbreviation:  ECON SS2010

 

Catalog Title:  Principles of Microeconomics

 

Course Number:  ECON 2010

Credit Hours:  3

 

Substantive: ______                          

New: ______                            

Revised: ______

Renewal:  X

Effective Date ____________

 

Course description as you want it to appear in the catalog:

 

The application of economic concepts to the analysis of scarcity of individual, firm, and organizational behavior. Topic coverage includes the theories of how consumers and firms make choices, and how various rules guide their respective decisions. The course also explores the theory of market structures, such as perfect and imperfect competition, as well as monopoly. Prerequisites: MATH QL1050 with a "C" or higher grade (or CR if taken on a CR/NC basis).

 

 

 

SOCIAL SCIENCE GENERAL EDUCATION MISSION STATEMENT

 

The mission of the Social Science general education area is twofold: 1. to provide students with a basic understanding of humans and their behavior within their environments; and 2. to assist students in their efforts to contribute to society in their particular professions and as responsible citizens of their various communities.

 

 

 

 

 

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General Education - Social Science Emphasis                                                                                                                                             

 

                       

Course Title:  Principles of Microeconomics 

Department:  Economics

                                                                               

 

SOCIAL SCIENCE LEARNING OUTCOMES

 

 

All courses proposed for inclusion in the social science breadth category must address at least two of the skill criteria listed below.  (Mark all that apply.)

 

__X__ Written, oral, or graphic communication

__X__ Abstract logic or reasoning

____ Use of information technology

____ Use of library or other research sources

____ Critical thinking, cognitive learning, and individual or group problem solving

____ Collaborative group problem solving

 

Justification:

 

Written, oral, or graphic communication:

 

Econ 2010 students are expected to use graphical models of economic behavior to explain and predict behavior.  Graphical models used in Econ 2010 include production possibilities fronteir (PPF) and supply and demand models.  A PPF demonstrates all possible combinations of goods and services that can be produced within an economy based on all available resources.  It demonstrates core economic concepts of production efficiency, opportunity cost, and increasing opportunity costs.  A supply and demand model is used to represent how resources are allocated in a market-based economy.  Supply represents a marginal opportunity cost curve representing the maximum quantities of goods or services that sellers are willing to sell at various prices, holding everything else constant.  The amount that sellers are willing to sell at a given price must be based on covering opportunity costs.  Demand represents the maximum quantities of goods and services that consumers are willing and able to buy at various prices, holding everything else constant that influences demand.  A consumer’s willingness-to-pay is rooted in the value they hold for the product, or essentially the benefit they receive; thus, we demonstrate that demand is a marginal benefit curve.  Further, we discuss factors that change supply or demand such as income influencing demand or increases in the cost of production impacting supply.

 

Students are expected to use graphical models to analyze social issues such as price controls and externalities, and be able to explain in writing as well as graphically. This is done on exams and through short writing assignments.

 

Abstract logic or reasoning:

 

Economics relies on the use of simplified models, mathematical and graphical, to explain behaviors.  These models are simplified descriptions of individual and group behaviors, and include information that is relevant for predicting impacts on both individuals and markets.  Models are employed to predict positive economic outcomes of causes and effects.  Examples of models used in Econ 2010 include, production possibilities frontier,  supply and demand, externalities, and circular flow of economic activity.

 

 

A student completing a social science general education course should be able to accomplish three of the following five outcomes. (Mark all that apply.)

 

__X__ Describe a social science approach to studying and understanding human behavior.

__X__ Describe basic assumptions about humans and their behaviors from a social science perspective.

____ Explain the basic elements and operation of a sociocultural system.

____ Explain the interactions between individuals and their sociocultural and/or natural environments.

__X__ Apply a social science perspective to a particular issue and identify factors impacting change (past or present).

 

Justification:

 

Describe a social science approach to studying and understanding human behavior:

 

The economic way of thinking is used extensively to explain human behavior and how incentives influence behavior.  From an economic perspective, individual and other decision makers have to make choices about the allocation of scarce resources (e.g., time, money, labor and capital resources) among many competing and insatiable wants.  Economists would argue that these choices are made at the margin by comparing the benefits of a choice with the economic costs.  When the benefits at the margin (known as marginal benefits) exceed the marginal economic costs, then going forward with the choice will increase well-being for the individual decision maker.  When we aggregate these types of decisions, we demonstrate how overall social well-being is maximized.  Marginal analysis is used throughout the course to demonstrate, for example: (1) the workings of markets and market behavior; (2) how certain incentives (operating through marginal benefits and costs) influence individual and firm behavior that leads to pollution problems, crime, or discrimination, and how different incentives change behavior; and (3) how imperfectly competitive markets lead to a less than socially desirable outcome because of the inability of the market to translate societal benefits and costs to individual benefits and costs

 

Describe basic assumptions about humans and their behaviors from a social science perspective:

 

The primary assumption made in economics about human behavior is that humans (as well as firms and governments) respond to incentives.  We also assume that all decision-makers act to maximize their own well-being.  In addition, we assume decisions tend to be made at the margin. 

 

Apply a social science perspective to a particular issue and identify factors impacting change (past or present):

 

The economic way of thinking is used to address many social issues including pollution problems, imperfectly competitive markets, poverty and dispersions in income and wealth, and discrimination.  Social issues are not addressed from a moral perspective in terms of we should or should not do, but rather from a positive economic approach of explaining why it happens and how we can correct through the use of incentives.  As a specific example, economists advocate incentive-based approaches for controlling pollution that evolves from a failure in the market.  Incentive-based approaches include per-unit emission taxes and tradable discharge permit markets.  These tools were developed as part of the Clean Air Act of 1990 for controlling sulfur dioxide emissions, and differ from a classic command-and-control approach for controlling pollution. 

 

 

 

COMPLETE THE FOLLOWING

 

1.   Has this proposal been discussed with and approved by the department?

 

Yes

 

 

 

2.   List those general education courses in other departments with similar subject matter and explain how this course differs.

 

 

None

 

 

3.   If the proposed new general education course affects course requirements or enrollments in other departments, list the departments and programs involved and attach comments from each.

 

N/A

 

 

 

4.   Attach a course syllabus.  Include the number of contact hours per week and the format of these hours (e.g., lecture, lab, field trip, etc.).

 

Two instructor syllabi are attached.

 

Econ 2010 meets for 3 hours each week; either 2, 75 minute courses;  3, 50 minute courses; or 1, 160 minute course.  Class hours are lecture based. 

 

New Courses Only:

 

5.   Discuss how you will assess student learning outcomes associated with this course

 

 

N/A

 

Current General Education Courses and Existing Courses Seeking General Education Status: 

6.   Discuss how you have assessed the applicable or identified student learning outcomes associated with this course.

 

Sample 1: Exam Questions

 

Figure 2-4

 

Figure 2-4 shows various points on three different production possibilities frontiers for a nation.

 

Refer to Figure 2-4.  A movement from the curve associated with X to the curve associated with Y 

A)is the result of advancements in food production technology only, with no change in the technology for plastic production.

B)is the result of advancements in plastic production technology only, with no change in

food production technology. 

C)could occur because of an influx of immigrant labor. 

D)could be due to a change in consumers' tastes and preferences.

 

 

 

Figure 3-5

 

 

Refer to Figure 3-5. Assume that the graphs in this figure represent the demand and supply curves for bicycle helmets.  Which panel best describes what happens in this market if there is a substantial increase in the price of bicycles?

A)Panel (a)

B)Panel (b)

C)Panel (c)

D)Panel (d)

 

Refer to Figure 3-5. Assume that the graphs in this figure represent the demand and supply curves for Fruitopia, a soft drink.  Which panel describes what happens in the market for Fruitopia when the price of Snapple, a substitute in consumption, decreases?

A)Panel (a)

B)Panel (b)

C)Panel (c)

D)Panel (d)

 

Refer to Figure 3-5. Assume that the graphs in this figure represent the demand and supply curves for rice.  Holding all else constant, what happens in this market if buyers expect the price of rice to fall?

A)Panel (a)

B)Panel (b)

C)Panel (c)

D)Panel (d)

 

 

Figure 5-6

 

 

College education benefits society by producing a more employable workforce, reducing crime and creating a better informed citizenry. Thus, the social benefits of college education exceed the private benefits for any level of college education. This is illustrated in Figure 5-6.

 

Refer to Figure 5-6. One way to obtain the economically efficient amount of college education is for governments to subsidize college education. What is the size of the per-student subsidy that the government must provide to internalize the external benefits?

A)P0-P1

B)P2-P0

C)P1

D)P2-P1

 

 

Sample 2:  Short, Participation Based Writing Assignments

 

1.      Using a production possibilities frontier analysis, compare Security Agents to Navy Seals.  Label the x-axis “Airport Security.”  Label the y-axis, “national defense”  Use one PPF for Navy Seals and one for Security Agents.  Explain why Security Agents provide airport security and not Navy Seals.

2.      Do you agree with the following Statement?  Why or why not?

◦      “Increased supply leads to a lower price, which in turn increases demand?

3.      A recent study indicated that “stricter college alcohol policies, such as raising the price of alcohol, or banning alcohol on campus, decreases the number of students who use marijuana”

◦      On the basis of this information, are alcohol and marijuana complements or substitutes?

◦      Suppose that campus authorities reduce the supply of alcohol on campus.  Use demand and supply graphs to illustrate the impact on the campus alcohol and marijuana markets.

 

 

 

 

7.   How has this assessment information been used to improve student learning?

 

Individual instructors primarily use exams and writing assignment to assess student learning.  For example, for multiple choice questions, an item analysis is conducted to determine questions that were either unfair, confusing, or perhaps misunderstood because the material was not conveyed or emphasized in the classroom.  In the latter situation, greater emphasis is made in lectures and through the use of in class practice problems.  It has also resulted in the use of more class activities, including experiments to test free markets. 

 

Short, participation based writing assignments are used so that students can demonstrate their economic knowledge and use of graphical reasoning in writing.  Writing assignments from the past were redesigned so that students were better able to demonstrate their knowledge.  Writing assignments are constantly changing to keep up with current events.

 
 

ECON 2010:  Principles of Microeconomics

 

Professor:       Brandon C. Koford

                        Department of Economics

                        Goddard School of Business and Economics

                        Weber State University

Office:                        Wattis 238      

Email:             brandonkoford@weber.edu

Phone:                        801.626.6013

URL:              http://faculty.weber.edu/brandonkoford

Class:                          Course 22546 – TR 10:30AM – 11:45AM, Wattis 116

                        Course 23759 – T 5:30PM – 8:10PM, DO2111

Office Hours: Tuesday 1:00PM – 2:30PM, 5:00PM – 5:30PM (Davis); Thursday 1:00PM - 2:00PM, and by appointment

 

Course Description

 

The application of economic concepts to the analysis of scarcity of individual, firm, and organizational behavior. Topic coverage includes the theories of how consumers and firms make choices, and how various rules guide their respective decisions. The course also explores the theory of market structures, such as perfect and imperfect competition, as well as monopoly. Prerequisites: MATH QL1050 with a "C" or higher grade (or CR if taken on a CR/NC basis).

 

Learning Goals and Objectives

 

The student will demonstrate mastery of basic microeconomic terminology through defining and discussing the terminology as well as applying it to current microeconomic events; calculate microeconomic variables; use models to analyze the behavior of individuals and firms; and analyze governmental policies and their effect on market outcomes and social well-being.  Assessment for these learning goals and objectives will be through assignments, quizzes, and exams.

 

Required Materials

 

MyEconLab is required.  Go to myeconlab.com to register.  The textbook, listed below, is also required.  The textbook can be purchased in hard copy or as an electronic text with MyEconLab. To sign up for MyEconLab, use the following Course ID codes to register: for Course 22546 – Tuesday, Thursday 10:30AM – 11:45AM, use XL0P-L1W5-301Y-0XL2; for Course 23759 – Tuesday 5:30PM – 8:10PM, use XL0P-L1W7-301Y-2XL2.

                                                              

Hubbard and O’Brien.  Microeconomics, 3^rd ed.  Upper Saddle River:  Pearson-Prentice Hall.

 

Teaching Philosophy and Methods

 

I love to teach!  I look forward to interacting with you throughout the semester about microeconomics and other course concerns you might have.  Class time will be a mixture of lecture and active learning.  Lecture will be used to motivate, clarify, extend, and synthesize the material.  Active learning will be used to involve you in an active discussion of microeconomic principles and ideas.  As the course is structured, you can get the basics from the text with thoughtful reading.  In class we will work together on the more demanding part of the course—analyzing, applying, synthesizing, and evaluating microeconomic principles and ideas.  Regularly you will work together in class with your classmates.  I will ask you to compare answers to a problem or work together on a question with your neighbor(s).  Working together in class will increase the amount of microeconomics that you learn.

 

While we will work on the more demanding material together in class, studying outside of class is also necessary.  An average student should plan to spend about 2 hours studying and doing various assignments outside of class for each hour of lecture in order to receive an average grade of C. Above average students may be able to earn a grade of C with fewer hours, and average students will probably find that to earn a grade of A or B will require even more hours of study. Even the best students should plan to spend about 2 hours outside class for every hour in class to earn an A or B.

 

Evaluation Criteria

Your grade will be determined on a standard 100 point scale.  A: 90% to 100%, B: 80%-89%, C: 70%-79%, D: 60%-69%, F: 59% and below.  If I feel that a curve is necessary it will be determined separately for each exam and announced in class when I return that exam.  Grading in the course will be based upon assignments, quizzes, 2 mid-semester exams and a cumulative final exam.  A breakdown of the scoring appears in the table below.

 

 

Assignments & Quizzes

 

Assignments are of two types.  First, MyEconLab assignments will be posted throughout the semester on myeconlab.com.  Second, in-class assignments will be given for participation and attendance credit.  MyEconLab Quizzes are based on the MyEconLab Assignments and provide an incentive to understand assignment material thoroughly.  MyEconLab assignments, quizzes, and in-class assignments give students a chance to actively apply the material being learned and also to provide a chance to assess strengths and weaknesses before taking the exam.  The student will greatly benefit by actively reviewing material on assignments.  In class assignments may only be turned in during the class time in which they are assigned.  See the attendance policy below for more information.

 

Exams

 

Exam questions will reflect information and ideas presented both in lecture and the assigned readings.  There will be two mid-semester exams held during regular class time and a cumulative final.  There are no make-ups for missed exams.  If a student misses a mid-term exam the final exam will be weighted to adjust for the missed mid-term exam (i.e. the final would be worth 50% of the final grade rather than 25%).  I will also substitute the final exam grade for the lowest mid-term exam score if it is in the favor of the student.  If a student misses more than one exam, the final will be weighted to adjust for the first missed exam, and a zero will be recorded for the other exam.  There are no make-up exams for the final.