The
Global Leadership Executive MBA
Program
Business Economics:
MECO 6303.PJM
Section: Project
Management
Fall - Spring
2011 - 12
Professor Contact Information
| Course
Pre-requisites, Co-requisites, and/or Other Restrictions | Course
Description | Course Content and
Materials | Grading Policy and Evaluation | Discussion Forum Participation | UTD
Policy |
Peter Lewin, Ph.D.
Course
Instructor Phone:
(972) 883.2729
Fax:
(972) 883.6164
Email: plewin@utdallas.edu Office
location. SM 3.223 |
|
Course Pre-requisites, Co-requisites, and/or Other
Restrictions Back
to Top
Math 5304 or equivalent
Economics is about the ordinary
business of life and it is also the basis for many courses in Business. It also contains much of the conceptual
material necessary for an intelligent understanding of business life. The
approach in this course to the teaching of economic principles is to try to ensure
that students acquire the necessary conceptual apparatus in a way that is both
challenging and interesting. This is done by attempting to ensure that the
material is presented in a lively, interesting and relevant fashion. We will
constantly use current real world examples to illustrate the application of
concepts.
Student Learning Objectives/Outcomes
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¨
Understand and
be able to apply the concepts of supply and demand, equilibrium, and the
factors that shift supply and demand to analyze the behavior of real markets
when conditions change. |
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¨
Analyze the
impacts of restricting markets from reaching the competitive equilibrium
through price controls, taxes, and subsidies. |
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Understand the difference
between monopoly markets and competitive markets. |
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Understand the
nature of production in the modern economy. Be able to identify the profit
maximizing price and the relationship between different types of cost. |
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In
addition, I would like students to take away from this course at least the
following: |
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I.
An appreciation
of the power of economic reasoning for understanding current events |
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II.
A facility for
analyzing everyday economic problems using basic economic analysis |
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III.
An understanding
of the concepts of |
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o supply and demand |
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o costs and benefits |
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o and their multiple applications |
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IV.
An appreciation
of the role of |
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o money in the economy |
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o the dangers of inflation |
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o the importance of free trade |
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o the limits of regulation |
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o the effects of taxes and subsidies of different types |
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o the workings of the market system is determining earnings (interest,
profits, wages, salaries and rents) |
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o the modern business firm, its function and its boundaries |
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o the achievements of the American economic system |
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Course Content and
Materials: Back to Top
Text: Economics, 4th ed., Walter Wessels, Barron’s Educational
Series, 2006 + supplementary readings
Course Outline Summary
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Lesson # |
Topic |
Reading |
|
1 |
Introduction to Economics - assumptions and implications- productions
possibility curves
(two parts: part A and part B)
|
Chapters 1-2 |
|
2 |
Demand and Supply - movements along curves vs. shifts of
curves. Elasticities of demand and supply; Engel curves; Market Equilibrium. (Three parts: part A, part B
and part C) |
Chapters 3, 4, 17, 30 Supplementary Reading: More on Consumer
and Producer Surplus Stossel on
Price Gouging |
|
3 |
Economic Policies - Price controls, taxes and
subsidies. Minimum wages, rent controls, consumer and producer surplus. (two parts: part A and part B) |
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Test 1 (Covering lessons 1 – 3)
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4 |
Consumer Theory - The isolated consumer, the
consumer in the market (two parts: part A and part B) |
Chapter 18 Supplementary Reading: More
on Indifference Curves |
|
5 |
Producer Theory - Monopoly, competition,
production, revenue and costs (four parts: parts A - D) |
Chapters 19, 20 , 22 Supplementary Reading: Monopoly
in Mexico - the real thing |
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Test 2 (Covering lessons 4 and 5) |
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6 |
Production and Growth – Growth accounting, the cost of living –
price indexes (three parts: part A, B and C) |
Chapters 6, 26, 27 Supplementary Reading: More
on Production Functions Types of Foreign
Aid |
|
7 |
The Financial System – Saving, investment and
financial markets (two parts: part A and part B) |
Chapters 7, 8, 9, 12, 13,
16, 28, 31 |
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Test 3 (˝ comprehensive and ˝ covering lessons 6
– 7) |
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Class meeting dates
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Oct-11 |
Nov-11 |
Dec-11 |
Jan-12 |
Jan-12 |
Feb-12 |
Mar-12 |
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14 F |
11 F |
9 F |
19T |
20F |
9 TH |
10 F |
9 F |
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AM* |
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PM |
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*AM classes start at 9 am (breakfast at 8:45).
Grading Policy and Evaluation 2 Back
to Top
Student Assessment:
Grading/Evaluation
There
will be three online tests, two midterms (25%) and a semi-comprehensive final
(50%). The tests will be composed of multiple choice questions. In
addition 5% can be added to your grade by participation.
|
Test 1 (covers lessons 1-3) |
25% |
December 2 (12 am) ‐ 4 (11:59 pm) - 1
hour |
|
Test 2 (covers lesson 4-5) |
25% |
January 27
(12 am) ‐ 29(11:59 pm) - 1 hour |
|
Test 3 (final, lesson 6-7, and comprehensive) |
50% |
March 16 (12 am) ‐ 18 (11:59 pm) – 2
hours |
I do not use the traditional grading
cutoffs. I use ones that are more generous, based on the whole class
performance.
Tests
There are three exams for this
course. Anyone missing an exam will automatically
receive a grade of zero for that test. Exceptions for documented medical or
family reasons may be permitted. Where possible, either the course manager or I
should be contacted prior to the time of the exam. At my discretion, either a make-up exam will
be scheduled or a reallocation of the weight to remaining examinations will be
made. Exams will be based on the
assigned reading material and class lectures.
The timed examinations are located on Blackboard. You can take the exam at any time during the
three day interval. Once you begin, you
have a set time to complete the exam. You can only take the examination
once. Examinations are to be done
individually. Evaluation is based on the
correctness of the response.
The
following are the grades that are possible to earn in this class.
A, A-, B+, B, B-, C+, C, C-, and
F, X.
There is a possible maximum bonus of 5% for participation in the discussions – found on the Discussion Board. Pay attention to when they come online and when they expire. Even if you don’t post it is a good idea to read the discussions.
UTD Policy on Cheating: Back to Top
Students in this class will be held to the standards established by Regents’ Rules and Regulations (Part One, Chapter VI, Section 3, Subsection 3.2, Subdivision 3.22) which states: Candidates are expected to be above reproach in scholastic activities. Candidates who engage in scholastic dishonesty are subject to disciplinary penalties, including the possibility of failure in the course and dismissal from the University. “Scholastic dishonesty includes, but is not limited to cheating, plagiarism, collusion, the submission for credit of any work or materials that are attributable in whole or in part to another person, taking an examination for another person, any act designed to give unfair advantage to a student or the attempt to commit such acts.” Professors randomly use “Turnitin.com” to screen papers against other published works on the web to insure against plagiarism.
eLearning
Information:
Technical Information
In addition to a confident level of
computer and Internet literacy, certain minimum technical requirement must be met
to enable a successful learning experience. Please review the important technical requirements and the web browser configuration
information.
Course Access and Navigation
This course was developed using a
web course tool called eLearning. It is to be delivered entirely online.
Students will use their UTD NetID account to login to the course at: http://eLearning.utdallas.edu. Please see the course access and navigation
information. To get started with an eLearning course, please see the Getting Started: Student eLearning Orientation. UTD provides eLearning technical support 24 hours a day/7 days a
week. The services include a toll free telephone number for immediate assistance
(1‐866‐588‐3192), email request service, and an online chat
service. The UTD user community can also access the support resources such as
self‐help resources and a Knowledge Base. Please use this link to access
the UTD eLearning Support Center: http://www.utdallas.edu/elearninghelp.
Communications
This eLearning course has built‐in
communication tools which will be used for interaction and communication. Some
external communication tools such as regular UTD email and a web conferencing
tool may also be used during the semester. Please see more details about communication tool information.
Interaction with Instructor
I will communicate with students
mainly through the Discussion
Boards and Course Announcements. Students may send personal
concerns or questions to me using my personal email, plewin@utdallas.edu tool. I will reply to student
emails or Discussion Board messages within 3 working days under normal
circumstances. Interaction with other students: You may communicate and
interact with other students using either email, discussion board or the
Collaboration tool shown on the course menu.
Student Resources
The following university resources
are available to students:
UTD
Distance Learning: http://www.utdallas.edu/oee/distance/students/cstudents.htm
McDermott
Library: Distance Learners (UTD students who live outside the
boundaries of Collin,
Dallas,
Denton,
Rockwall,
or Tarrant counties) will need a UTD‐ID number to
access all of the library’s electronic resources (reserves, journal articles, ebooks, interlibrary loan) from off campus. For UTD
students living within those counties who are taking online courses, a Comet
Card is required to check out materials at the McDermott Library. For more
information on library resources go to http://www.utdallas.edu/library/distlearn/disted.htm.