This class requires students:

i) Have a reliable internet connection and can meet deadlines - none are ever individually extended or changed.

ii) Purchase access to the MyEconLab online homework website with required eText: Foundations of Microeconomics by R. Bade and M. Parkin, 9th edition.

iii) Regularly check email and the Canvas class site and be self-motivated

iv) Read this syllabus VERY carefully before deciding to remain in this class; pay attention to the drop deadlines.

We cover material much faster than in an ordinary 16-week class since we cover the same amount of material in 8 weeks online. No deadlines will be individually adjusted. There will be no adjustment for problems with any individual student’s computer or internet connection. Grades are determined without exception by the scale on this syllabus.  E.g.,  any student who earns a point total from 350 to 399.99 has earned a C in the class.

Basic Information:

- This course follows the text: Foundations of Microeconomics 9th ed., Bade/Parkin closely and uses two websites:

1) SMC Canvas course site: https://www.smc.edu/academics/online-learning/canvas/index.php

2) MyEconLab:http://www.pearson.com/mylab

- MyEconLab provides online problem sets and quizzes, and well as eText access. It requires one disable popup blockers within one’s computer browser. On Apple computers use Chrome (Safari sometimes works, but not always)

- Some numerical questions in MEL homeworks are randomized, so that numbers differ for different students, and for the quizzes, different questions.  Often wording is slightly different between questions on different versions implying a

different correct answer, so be sure to read questions carefully.

- Secure access to the textbook: Foundations of Microeconomics 9th ed., Bade/Parkin. Students may purchase the

required MyEconLab software and eText combination for   $104.99 directly from the publisher:

https://www.pearson.com/store/p/foundations-of-microeconomics/P100002724444/9780135917718

or for $128.75 with an access card from the SMC Bookstore.  There is also a rental option

- MyEconLab course ID is brown22879

- If one purchases MyEconLab online from the publisher, they may choose temporary free access for two weeks.  If you select temporary access and remain in the class it is essential to purchase before free access expires. I do not extend       deadlines if one loses access due to non-payment.

- This section of EC 1 is fully online and asynchronous (students are not required to “attend” at any specific time).

- Office hours on Zoom Thursdays 8:30- 10 PM: https://cpp.zoom.us/j/4877940151 (Meeting ID: 487 794 0151)

- Individual questions may always be asked by email: [email protected]; and general questions relevant for others should be asked on the general discussion board in Canvas.

- Instructions showing how to sign up for MyEconLab are posted on Canvas just under the syllabus.

- Any student who has not completed the introduction Homework and Quiz in MyEconLab; OR introduction Quiz in Canvas; OR has not posted an introduction on Canvas by Sunday 4/23 will be dropped from the class Monday 4/24.  If a dropped student wants to be reinstated, they may email to request this by Tuesday  4/25 – AFTER completing the MEL

assignments (it will be impossible to complete late assignments in Canvas, and scores of 0 points will be remain).

Course Goals for Students:

1) Gain a basic understanding of economic ways of thinking and approaching questions.

2) Be able to use simple theory to analyze real world issues.

3) Understand and be able to use the terminology of economics.

4) Understand how microeconomic principles relate to the daily decisions and activities of individuals, groups of people, businesses, and government.

5) Learn how economic reasoning can usefully augment approaches of other social science and business.

Background and Motivation:

Economics can be defined as “the study of allocation of scarce resources by societies, firms, and households.”  Although other definitions exist, most include the terms “allocation” and “scarcity.”  While economics is closely related to business management, it is not directly about how to run a business firm or how to make money in the stock market. Nonetheless, economic reasoning is useful and should indirectly help individuals make beneficial market decisions.  The relationship   between economics and business is similar to that between physics and engineering.  In both comparisons the former is    more theoretical, and the latter more applied.

Economics is a “social science” along with political science, sociology, anthropology, and psychology.  It analyzes the    behavior of people. Economics focuses directly on individual consumers and producers and how their interaction in         markets can influence resource allocation (who gets what).  In contrast, sociology focuses directly on groups, their goals, perspectives and behavior. At some universities the economics department is in the business school (e.g., Cal State         Northridge), while at others it is grouped with social sciences (e.g., Santa Monica College, where Economics is in the      Social Science and Philosophy Department).

Microeconomics (EC1) examines the behavior of producers, consumers, and governments in the economy and how these decision making “agents” interact within markets.  It addresses determination of prices in individual markets and how     price changes effect production and consumption. In contrast, Macroeconomics (EC2) focuses on aggregate or economy- wide values such as national output, unemployment, interest rates, and price inflation (or deflation).  Expect to read the   text more than once in order to truly understand the material.

There are no individual adjustments or extra credit.  All grades are objectively determined by points alone.

Course Grade will be determined asfollows:

A: 450-500 points 90 % - 100 % of total possible

B: 400-449.99 points 80 % - 89.9 % “

C: 350-399.99 points 70 % - 79.9 %   “

D: 300-349.99 points 60 % - 69.9 %   “

F:  fewer than 300 points below 60 %

NOTE: grades are determined by points, not “percent correct” as visible in either Canvas on MyEconLab. I will adjust the scores (drop the lowest) and transfer pointsfrom MyEconLab into Canvas at the conclusion of the course.

E-mail and Canvas Technical Help

It is best for students to use their SMC email address for all SMC-related correspondence. Non-SMC emails may be      stopped by the SMC spam filters and not received.  It is essential students regularly check emails at the email address on record at SMC.

Dropping/Withdrawing:

If you plan to drop the class you must do so officially through the admissions office.

The last day to drop without a W on your transcript (which does not affect GPA) is Wednesday 4/26.

If your name is on the roster at the end of the term and I am required to assign a letter grade.  To receive an I grade, one must provide a physically verifiable reason which both I and Admissions and Records find acceptable.  Deadlines in 8- week classes come VERY quickly; I strongly recommend anyone who falls behind at the start should drop.

Final Exam:

The final has a three hour time limit and 100 objective questions.  It may be taken only ONE time and covers all course material including that posted on Canvas.  It will be available between Th 6/8 5 PM – Sunday 6/11 11:59 PM

MyEconLab (MEL) Homeworks:

Homeworks typically have 10- 15 multi-part questions each (except for the introduction homework).  Questions may be    answered up to 10 times (after that the student cannot get points for that problem).  They have no time limit.  Homeworks are due Saturdays and may be submitted late with a penalty of 30%. The two lowest homework scores will be dropped.

MyEconLab (MEL) Quizzes:

Quizzes have ten objective questions each (except the first).  They may be taken twice, no time limit, with the higher   score counting towards one’s grade.  Quizzes are due Sunday nights, but may be submitted late with a penalty of 30%. The two lowest MEL quiz scores will be dropped.

Quizzes in Canvas:

The 10 quizzes in Canvas (IntroCanvas Quiz and Quizzes 1-9) may be taken twice with the higher score counting towards one’s grade. Each attempt has no time limit and may NOT be submitted late (if not submitted by due date score = 0). The lowest two scores from Quizzes 1-9 will be dropped.

Discussion Board:

Students are required to enter one introduction post on Canvas by 11:59 PM Sunday 4/23. This post is worth up to 5 points. One’s introduction may contain information about where they are from, hobbies, will major in, or intend to  transfer.  Very brief posts (e.g.: “Hi everyone.  I hope we all do well in this class”) will earn less than 5 points.

A general discussion board for general questions relevant for other students is open and I recommend general questions be asked here rather than by email. If one emails a general question, I may paste it and answer it here.  Posts on this                discussion board do not directly earn points, but can indirectly improve one’s grade if they learn something useful for the  rest of the class by posting.

Official Student Learning Outcomes for SMC students in Microeconomic Principles, EC 1:

1. Demonstrate academic responsibility and integrity.

2. Demonstrate through oral and/or written work knowledge of the course content: Supply and Demand Model, the      concept of elasticity, productivity, cost structures, and the implications of alternative market structures including Perfect Competition, Monopoly, Monopolistic Competition and Oligopoly, for prices, efficiency, and the role of government.

3. Utilize the research, analytical, and communication skills necessary to present compelling and original arguments, orally and/or in writing, that advance reasonable conclusions as to how various government policies affect economic  actors in a market economy.

Official Dates and Deadlines:

Last Day to Withdraw to Receive a Refund: 4/22/2023 - Saturday

Last Day to Withdraw to Avoid a "W": 4/26/2023 - Wednesday

Last Day to Withdraw to Guarantee a "W": 5/28/2023 - Sunday

Last Day to Request for Pass/No Pass Grade: 6/9/2023 - Friday