ECO 2030. Principles of Economics-Price Theory
Spring 2007 | Calendar |
Exam #3 |
Grades [updated May 1]
Section 105: MW 2:00-3:15, Raley Hall 1015
Instructor: John Whitehead
Section 106: MW 3:30-4:45, Raley Hall 1015
Office: Raley Hall 3094
Office Hours: TR 9:30-11:30, 2-4, appointment, open door
Phone: 262-6121 (office), 262-2148 (department), 268-8991 (home)
A brief introduction to the study of economics
followed by an in-depth analysis of microeconomics, including: the price
mechanism and supply and demand analysis; consumer choice; cost and revenue
analysis of the firm; market structures; factor markets and income distribution;
market failure and the role of government; and current economic problems such as
pollution, poverty and discrimination. Prerequisite: completion of core
curriculum mathematics requirement.
Learning Outcome Statement
Upon completion of this course the student will be able to:
- Identify the concepts of scarcity and opportunity cost as they relate to
the study of economics.
- Identify the determinants of supply and demand and use the supply and
demand model to illustrate changes in prices and output.
- Define price elasticity of demand and supply and demonstrate the
relation between the price elasticity of demand and total revenue.
- Identify the behavior of the firm as it relates to production, price,
cost, and profit.
- Demonstrate the welfare effects of alternative market structures.
- Describe how the concepts of comparative advantage and specialization
lead to gains from trade.
Note: Every ECO 2030 syllabus at ASU has the same
learning outcome statement. It is an AACSB requirement.
and Reading Assignments
The primary means of instruction is the straight
lecture supplemented with
classroom games and experiments, interpretative dance and song. [Warning]
There are three multiple choice exams during the
semester: two in-class exams and a final
exam administered during the final exam period. Each exam is worth 100 points. The final exam is cumulative
(i.e., it includes questions from the "learning outcomes" above).
There will be a number of unannounced quizzes
during the semester. Your two lowest quiz scores will be dropped. The average
quiz score is worth Q = 100 points.
Each exam is graded on a 100 point scale. The 300 exam points are weighted. Your highest
two scores (H1 and H2) are
weighted 40% and your lowest score (L) is
weighted 20%. The points from your
exams are calculated as follows:
- Total points = Q + 3 ◊ [(.40 ◊ H1) + (.40 ◊ H2) + (.20 ◊ L)]
- Overall average = Total points/400
A university excused
or emergency absence is usually necessary to schedule a make-up exam [Exam procedures].
The grades are based on the three exams and quizzes.
The maximum number of points is 400. There are absolutely no opportunities for extra credit.
FYI, here is the ECO 2030 final grade distribution from
a previous semester (click on the thumbnail):
There are a number of ways to insure that you
earn the grade that you hope to receive. One of my friends in college had this
revelation late in his college career: "You
know, if you go to class, read the assignments and study before the exams, you
can get a pretty good grade." Indeed!
Class Attendance: From the catalogue: "It is the policy of Appalachian State University that
class attendance is considered to be an important part of a student's
educational experience. Students are expected to attend every meeting of their
classes, and are responsible for class attendance."
Classroom behavior: The following classroom behaviors are not acceptable: excessive and/or
chatting with other students, disruptive coming and going, answering your
cell phone and other annoying behaviors.
Academic Dishonesty: It is the responsibility of every
student to abide by the Appalachian State University
Academic Integrity Code. In short:
"Students will not lie, cheat, or steal to gain
Disabilty: "If you have a disability for which you are or may be
requesting an accommodation, you are encouraged to contact both your instructor
and the Office of Disability Services,
222 D.D. Dougherty, 262-3053/262-3056 (TTY) as early as possible in the term."
ASU Office Hours Policy: Every full-time faculty member is required to
be available seven (7) hours per week during the regular academic year to
consult with students. Requirements for part-time faculty will be prorated
according to the number of hours taught. Each department will maintain an office
hours policy that establishes standards regarding a mix among formal office
hours, meetings in other locations, and electronic communications appropriate
for faculty members and curricula in that department. A schedule indicating the
times available for formal office hours, meetings in other locations, and
electronic communications must be posted on the faculty memberís office door,
listed on course syllabi, and provided to the departmental office at the
beginning of each semester. Electronic communication addresses, URLs, and/or
phone numbers must be listed on course syllabi and also provided to the faculty
memberís departmental office. During the term of a summer session in which a
faculty member teaches, office hours expectations are half of those during the
regular academic year.