ECON 210 : Microeconomics

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Viewing: ECON 210 : Microeconomics

Last approved: Mon, 14 Mar 2016 19:08:39 GMT

Last edit: Mon, 14 Mar 2016 19:02:58 GMT

Markwith, Kathy M
Phone (386) 555.1212
by appointment
7:00 p.m. – 10:20 p.m. ET; Tuesday
New Orleans
2351-MAY-2016 5/31/16-8/1/16

  • Roger Arnold. Custom Instant Access Code for APLIA with Digital Assets for Arnold Economics (24 month access). (12th edition). Cengage Learning Custom Solutions. ISBN: 978-1305824171 Printed Access Code Card & eText; 978-1337327756 Paperback textbook and Aplia access code.
    NOTE: Students will be directed to purchase the digital access code for Aplia, including other digital materials through links within the online course. These all digital assets include access to the eBook version of the required textbook (Economics 12th edition by Roger Arnold) within their Aplia course.The cost of the custom instant access code for Aplia is $140 and covers a single student taking both ECON 210 (Microeconomics) and ECON 211 (Macroeconomics) concurrently, consecutively, or non-consecutively within 24 months of taking the first course..

  • Important Note:  Only this bundle will be valid for ECON 210 and ECON 211. The digital assets include access to the eBook version of the required textbook (Economics 12th edition by Roger Arnold) within their Aplia course There is no requirement to purchase a paper version of the text. The cost of the custom instant access code for Aplia is $136 and covers a single student taking both ECON 210 (Microeconomics) and ECON 211 (Macroeconomics) concurrently, consecutively, or non-consecutively within 24 months of taking the first course. Instructions to access Aplia homework and e-text are in the Start Here section in Canvas. 

    American Psychological Association (2010).... ISBN 978-1-4338-0561-5

    This course is an introduction to the economic principles of free enterprise supply and demand, private and social implications of revenue maximization, cost minimization, profit maximization, market structure, and resource markets. Current microeconomic issues in aviation (such as elasticity, pricing, taxes, subsidies, market implications, liability reform, evolution of airline completion, etc.) are discussed.
    The purpose of this course is to present the theory of price and output determination. The student will learn how to apply elementary microeconomic principles to domestic and international policies. In order to maintain student interest and better perform our mission, professors will utilize current aviation examples to illustrate these economic principles as frequently as possible.
    Upon completion of the course, students will be able to: 1. Understand introductory economic concepts. 2. Recognize basic supply and demand analysis. 3. Recognize the structure and the role of costs. 4. Describe, using graphs, the various market models: perfect competition, monopoly, monopolistic competition, and oligopoly. 5. Explain how equilibrium is achieved, in the various market models, in both the long and short run. 6. Recognize how resource markets relate to the product markets. 7. Identify problem areas in the economy, and possible solutions, using the analytical tools developed in the course. 8. Recognize how all the parts of the economy integrate into the whole. 9. Recognize the international economy, and describe how it works. 10. Recognize the crucial use of elasticity theory in pursuit of revenue maximization, output efficiency, inter-commodity relationships and the impact of income changes.
    These are the major assignments in the course and will be the basis for evaluation according to the grading scale shown in the table below.

    Undergraduate Grade Scale

    90 - 100% A
    80 - 89% B
    70 - 79% C
    60 - 69% D
    0 - 60% F

    Graduate Grade Scale

    90 - 100% A
    80 - 89% B
    70 - 79% C
    0 - 69% F
    ActivityPercent of Grade
    Research Paper Topic5
    Research Paper Draft5
    Research Paper Final20
    Graded Problem Sets (Aplia)40
    Total Weight100%

    This course requires the student to prepare and submit during week nine, by August 1, 2016, at 11:59 p.m. ET a research paper. Student should remember that the nature of the class is Microeconomics and the focus of the paper should revolve around this theme. Papers that do not address this topic, but focus instead on other important, but irrelevant issues will not grade well. Please refer to the grading rubric in Canvas for additional information.

    The formal term paper should highlighting published current economic events or issues as they relate to theories learned in this course. Each paper must include a graph used as an explanatory tool of the economic principle presented by the student.  Each paper’s intention is to be a short analysis on the most recent economic events or reports from the supplemental resources or references. The focus of these assignments is to relate and analyze current events to basic principles of Microeconomics covered in this course. It is not acceptable to just summarize statistics. This is not an opinion paper. The student’s paper should indicate that he/she has a clear understanding of theory learned in class, including additional research and its application/operation in the ‘outside world’.

    The paper should have 6-8 pages of content and include a title page, abstract, reference list, graph and appendices and prepared using APA 6th Edition standards for a total of 8 to 10 pages. Any graphs or photos should be included in the appendices. Writing should show college level work. Don't forget the basics; spelling, grammar, and format.

    • Topics are due on the 3rd week (5%) (shown on the Course Schedule).

    • Drafts are due on the 6th week (5%) (shown on the Course Schedule).

    • Final submissions are due on the 9th week (20%)  (shown on the Course Schedule).

    • All papers/projects submitted for grading in this course will be submitted to -  A paper/project that is turned in late will be downgraded 10% for each week the paper is late. (One day, -1; two days; -2; and three days through seven days, -3.5.). August 1, 2016 at 11:59 p.m. ET is the last date any assignments will be accepted. Discussion post assignments will follow the above late policy. There is no grace period for the Aplia homework sets.

    • The research paper is worth 30% of your final grade. This is a large portion of your overall grade and you need to treat it as such.

    • Submitted all or part of another paper written for a different class without proper citation will be considered plagiarism. Any plagiarism is an automatic F for this class.

    Each module, with the exception of Module 2, contains a discussion activity that will help sharpen your critical thinking and written communication skills as you study Microeconomic topics. From time to time, as current events unfold, additional discussion questions may be posted directly to the Discussion Board that relate to the course material. These questions should be answered as well. Participation is defined as your well thought out responses to classmates and other contributions you make to the weekly class discussions. We can learn much from each other, but only if we put forth effort and share our discoveries as we move through the semester. Be sure to read the initial responses posted by your classmates each week. The more each student interacts with others on the Discussion Board, the better. Substantive contributions are defined as those responses providing statements that enhance ongoing discussion of the module’s topics, thus enabling the discussion to build throughout the class. Responses should include demonstration of the module's topical information as well as how to apply topics covered.

    Thirty percent of your course grade will come from your formal written responses to the discussion questions and responses to classmates, submitted on time and as directed in the appropriate Discussion Board forum. This portion of your grade is based on the quality, not quantity, of your participation. Only answering the posted discussion questions is not sufficient for full credit. You are expected to comment, debate, and further fellow students’ discussions.

    All assignments will be completed in a professional manner and on time, unless prior arrangements have been made with the professor.  Canvas assignments are graded with class participation. This course includes weekly activities, each of which may have grade points associated with them. Unless prior arrangements have been made with the instructor, students are expected to participate each week, according to the course schedule. This is especially important with regards to discussion activities. Weekly discussions typically include both an initial posting and one or more substantive replies.

    Note:  Proper etiquette has to do with keeping it simple by using proper English and proper spelling – spell check works well in Canvas.

    Week #TopicLearning OutcomesActivities
    1 Introduction, Introduction to Economics 1 1 Introductions
    2 Read Chapter 1, Appendix A, and Chapter 2
    3 Singing about Opportunity Cost
    4 Opportunity Cost Video: My Prom Dates
    5 Article: Opportunity Cost of Economics Education
    6 Discussion
    7 Assignment: Aplia Week 1 Problem Sets
    1.Introduction to Using Aplia Assignments
    2.Math and Graphing Assessment with Tutorials
    3.What Economics is About
    4.Production Possibilities Frontier
    2 Markets: Supply, Demand, and the Price System 2 1 Read Chapters 3 and 4
    2 Videos: Demand vs. Quantity Demanded; Law of Supply
    3 Assignment: Aplia Week 2 Problem Sets
    1.Supply and Demand: Theory
    2.Prices: Free, Controlled, and Relative
    4 Preview: Research Paper
    3 Elasticity and Production/Costs 3, 10 1 Read Chapters 20, 21 (pp. 437- 441), and 22
    2 Video: Principles of Economics, Translated
    3 Audio: Using Elasticity to Promote Tourism
    4 Discussion
    5 Assignment: Aplia Week 3 Problem Sets
    2.Consumer Choice: Maximizing Utility and
    Behavioral Economics
    3. Production and Costs
    6 Assignment: Submit Research Paper Topic
    4 Perfect Competition 3,4,5 1 Read Chapter 23
    2 Video: The Economics of Seinfeld
    3 Discussion
    4 Assignment: Aplia Week 4 Problem Set
    1.Perfect Competition
    5 Monopoly 3,4,5 1 Read Chapter 24
    2 Article: To Regulate or Not
    3 Video: The Colbert Report on Monopoly
    4 Discussion
    5 Assignment:
    Aplia Week 5 Problem Set
    6 Monopolistic Competition and Oligopoly 3,4,5 1 Read Chapter 25
    2 Web Research: Boeing’s Market Structure
    3 Video: Big Corporation vs. Small Business
    4 Audio: Political Game of Chicken
    5 Discussion
    6 Assignment: Aplia Week 6 Problem Set
    1.Monopolistic Competition: Oligopoly and Game
    7 Assignment: Submit Research Paper Draft
    7 Factor Markets 6,7,8 1 Read Chapters 27 and 28
    2 Audio: Labor Unions and the Auto Industry
    3 Discussion
    4 Assignment: Aplia Week 7 Problem Sets
    1.Factor Markets: With Emphasis on the Labor Market
    2.Wages, Unions, and Labor
    8 Government Intervention and Market Failure 6,7,8 1 Read Chapters 26 and 31
    2 Video: Breach of Trust
    3 Discussion
    4 Assignment: Aplia Week 8 Problem Sets
    1.Government and Product Markets: Antitrust and Regulation
    2.Market Failure: Externalities, Public Goods, and Asymmetric Information
    End of Course Evaluation
    9 International Markets 6 1 Read Chapters 34 and 35
    2 Video: Free Trade vs. Protectionism
    3 Video: The Economics of Seinfeld
    4 Article: Plain Talk about the Dollar
    5 Discussion
    6 Assignment: Aplia Week 9 Problem Sets
    1.International Trade
    2.International Finance
    7 Assignment: Submit
    Final Research Paper – last date for submission is August 1, 2016 at 11:59 p.m. ET
    8 Supplemental Food for Thought
    Writing Style

    Written assignments must be formatted in accordance with the current edition of the Publication Manual of the American Psychological Association (APA) unless otherwise instructed in individual assignments.


    Located on the Daytona Beach Campus, the Jack R. Hunt Library is the primary library for all students of the Worldwide Campus. The Chief Academic Officer strongly recommends that every faculty member, where appropriate, require all students in his or her classes to access the Hunt Library or a comparable college-level local library for research. The results of this research can be used for class projects such as research papers, group discussion, or individual presentations. Students should feel comfortable with using the resources of the library. 

    Web & Chat:
    Text: (386) 968-8843
    Library Phone:  (386) 226-7656 or (800) 678-9428

    Course Policies

    Embry-Riddle is committed to maintaining and upholding intellectual integrity.  All students, faculty, and staff have obligations to prevent violations of academic integrity and take corrective action when they occur. The adjudication process will include the sanction imposed on students who commit the following academic violations, which may include a failing grade on the assignment, a failing grade for the course, suspension, or dismissal from the University:

    1. Plagiarism:  Presenting as one’s own the ideas, words, or products of another.  Plagiarism includes use of any source to complete academic assignments without proper acknowledgement of the source.  All papers submitted for grading in this course will be submitted to - where the text of the paper is compared against information contained in the database.  Papers submitted will be included in the database and become source documents for the purpose of detecting plagiarism.
    2. Cheating:  A broad term that includes the following:
      1. Giving or receiving help from unauthorized persons or materials during examinations.
      2. The unauthorized communication of examination questions prior to, during, or following administration of the examination.
      3. Collaboration on examinations or assignments expected to be individual work.
      4. Fraud and deceit, that include knowingly furnishing false or misleading information or failing to furnish appropriate information when requested, such as when applying for admission to the University.
    3. APA 6th edition format is the ERAU Worldwide standard for all research projects.

    Aplia Weekly Graded Problem Sets

    These assignments will collectively count for 40 percent of your course grade. The graded problem sets have a firm due date at the end of each week. You are allowed to take each problem set up to three times before the due date passes. Your score will be an average of your attempts.

    Once the due date has passed, the grade will be recorded and it will not be possible to change your answers or complete the assignment at this point. Graded problem sets from Aplia must be completed by the due date. After the due date, you will be able to see your grade, the correct answers and the explanations for graded problems. You must complete the graded problem set during the week it is offered. If you do not, you will receive a zero for that problem set. If you plan to be away during a specific week, work ahead and complete the problem set early. You MAY NOT take a problem set later than the time specified. You may drop three of your lowest scores of the problem sets during the class. These are your free passes to accommodate any computer glitches, schedule mishaps, illness, whatever.

    Each week’s module also contains practice sets. Please make sure to do the practice sets first.

    Special note on Week One Aplia homework sets: Week one has additional problem sets that cover more than the chapters assigned. The first is to introduce you to how to complete the online problem sets on Aplia. The second is a math and graphing assessment with tutorials. These are graded homework sets. Please note: if you have already completed Econ 211, the module 1 problem sets are the same – you are still required to complete the Aplia homework sets for this module.

    Disability and Special Needs

    ERAU is committed to the success of all students. It is a University policy to provide reasonable accommodations to students with disabilities who qualify for services. If you would like to request accommodations due to a physical, mental, or learning disability, please contact the Worldwide Campus Disability Support Service Office at (888) 292-5727 or via email or

    Key: 9