TRITON COLLEGE

· Eco 103-sp, Microeconomics for the scholars program

· Instructor: Tom Porebski

· Office: S-105, in the science bldg.

· Phone: 708-456-0300, extension 3509

· Email: tporebsk@triton.edu OR tporebski@aol.com

· Office hours: 9-10 a.m. on M, and 10-12 on T,H

· ((1) REQUIRED TEXT : Principles of Microeconomics, 4^th edition, by Gottheil.

· COURSE OBJECTIVES AND OVERVIEW: The course is an introductory course in the principles of microeconomics, which deals with the individual parts of the economy. Topics covered include the nature of economics, supply and demand, theory of consumer behavior, business firms, competition, monopoly and market structures, regulation of business, the labor market, union activity, poverty and the distribution of income.

· GRADING PROCEDURE: There will be 4 exams, including 3 regular tests and a comprehensive final exam. The lowest of the first 3 tests is dropped. Each student will turn in 2 articles from magazines, etc, dealing with specific economic issues along with a written summary of the article and how it relates to economics. Each article is worth a maximum of 30 pts. There will be a series of web quizzes worth a total of 90 pts. Exams will be a mixture of multiple choice, short answer, essays and problem solving.

· Points and Grade distribution:

· Top 2 exams: 200 pts ( 100 each)

· Final exam 150 pts

· Articles: 60 pts (30 each)

· Web Quizzes 90 pts

· Total pts: 500 pts

· Scale: 440- 500 pts = A

380- 439 pts = B

320- 379 pts = C

260- 319 pts = D

Below 260 = F

Please note that there is no extra credit in the class.

Signing into WebCt to access the Web Quizzes:

Go to the following web address:

http://online.triton.edu:8900

You should get a page on which you click "my WebCT". This will open a box that will ask for your username and password. Your username is your full name, first and last, as you are registered here at Triton College. All the letters should be typed in lower case, with no spaces. Your password is the first letter of your first name, the first 3 letters of your last name, and the last 4 digits of your social security number, again in lower case with no spaces.

Tentative Time Schedule, Eco 103sp

Week of:	Material Covered	Comments
Jan. 23	Review ch. 1,3	Omit ch. 2
Jan. 30	Ch. 3
Feb. 6	Ch. 4
Feb. 13	Ch. 4,5
Feb. 20	Ch. 6,7 up to page 136	Exam 1, ch 1,3,4,5, 6
Feb. 27	Ch. 8
Mar. 6	Ch. 8
Mar. 13		Spring break
Mar. 20	Ch. 9,10
Mar. 27	Ch. 10,11	Exam 2 ch 7,8,9,10
Apr. 3	Ch. 11,12
Apr. 10	Ch. 12
Apr. 17	Ch. 13
Apr. 24	Ch. 15	Exam 3, ch. 11,12, 13
May 1	Ch. 15,16
May 8	Ch. 16,18
May 15	Last day of class May 15
Final exams, May 16-19: to be announced in class.

POLICIES;

1. Proper behavior is expected at all times both in and out of the classroom.

2. Food and drink are not allowed in the classroom at any times, nor are they permitted in any of the carpeted areas of any of the buildings. Please also note the no-smoking policy in all campus buildings.

3. There are no make up exams. If you miss an exam, it will be the lowest exam that gets dropped.

4. The final exam is mandatory, regardless of past performance in the course.

5. Attendance is crucial to your success in this course.

6. Cheating on exams will result in a failing grade in the course.

7. Homework assignments must be turned in on time or they are not acceptable.

8. NO CELL PHONES OR BEEPERS SHOULD GO OFF IN THE CLASSROOM!!

9. Excessive tardiness can result in being dropped from the class.

· IMPORTANT NOTE TO ALL STUDENTS ON DROPPING CLASSES. The last day to drop from a class is Apr. 13. If a student wishes to drop a class, they must fill out the necessary form and turn it in to registration by this date. Failure to do so WILL result in a grade of "F" for the course. NO STUDENT MAY DROP THE CLASS AFTER THE DROP DEADLINE.

Article Assignment

You are to find 2 articles dealing with economic issues from the list given below. The articles can come from magazines, newspapers, or the internet. Read the article and write a thorough summary of the article. Your summary must include the following:

A thorough summary of the main points of the article. (do not just copy from the article.)
After summarizing the article, briefly discuss how the article relates to material we have covered in class or how it relates to macroeconomics. Mention specific concepts we have used in class if possible.

Your summaries are to be typed and well written, just like a paper. Grammar and spelling will be checked along with the worthiness of the summary itself. DO NOT JUST COPY PARTS OF THE ARTICLE!! (which of course is plagiarism!!)

Your articles must deal with the following topics:

1. Supply and demand type issues (ch. 3 in book), such as prices in markets, shortages and surpluses.

2. Elasticity of demand and supply (ch 4) Deals with how sensitive markets are to prices and other changes.

3. Costs of Production (ch. 8) Deals with firms costs, fixed and variable costs, etc.

4. Market structures (chs 10-12) Deals with competition vs monopoly, oligopoly, etc.

5. Regulation in the marketplace (ch13) Deals with regulation of monopolies and other firms, pros and cons of regulation, and the anti trust laws.

6. Labor market issues (ch. 15, 16) Wages, monopsony, union activity, the minimum wage law are some possible topics.

7. Poverty and the income distribution: (ch 18) Deals with how income is distributed, arguments for and against a more equal distribution, our present welfare system, etc.

Each article summary is likely to be 1-2 pages in length.

Each summary is worth a maximum of 30 pts.

DUE DATE: THE FIRST ARTICLE SUMMARY IS DUE BY FRIDAY MARCH 24^TH.

THE SECOND ARTICLE IS DUE FRIDAY MAY 5^TH .

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