|
BUSINESS ECONOMICS COURSE SYLLABUS MECO 6303/SYSM 6319 | |
My
Information Email: plewin@utdallas.edu Office:
SM 3.223 Web Site: https://personal.utdallas.edu/~plewin/webpage.htm Office hours: by appointment –
email me.
All classes are planned as in person meetings
on the dates listed below in JSOM 11.210, 2 - 7 pm.
I
make extensive use of eLearning in all of my courses. You should monitor
the course on eLearning frequently for announcements, discussions
and supplementary material. Course Information 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. Catalogue
Description. Business
Economics (3 semester hours) Foundations of the economic analysis of business
problems, with special emphasis on the function and determination of market prices
in production and consumption. Supply and demand, price theory, production
theory, trade theory with reference to the global economy, the effects of tax
and other policies in the economy, and essential elements of the banking
system and monetary policy are addressed. 2.
Prerequisites: MATH 5304 or equivalent. 3.
Learning objectives: Minimal
General Learning Outcomes - the ability to 1.
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. 2.
Analyze the impacts of restricting markets from reaching the competitive
equilibrium through price controls, taxes, and subsidies. 3.
Understand the difference between monopoly markets and competitive markets. 4.
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. 5. Understand and apply the
basic concepts of macroeconomics including the principles of banking,
money-creation, income-determination, inflation and unemployment I
would like students to take away from this course at least the following: 1). An appreciation of the
power of economic reasoning for understanding current events 2). A facility for analyzing
everyday economic problems using basic economic analysis 3). An understanding of the
concepts of · supply
and demand · costs
and benefits · and
their multiple applications 4). An
appreciation of the role of · money in
the economy · the
dangers of inflation · the
importance of free trade · the
limits of regulation · the
effects of taxes and subsidies of different types · the
workings of the market system is determining
earnings (interest, profits, wages, salaries and rents) · the
modern business firm, its function and its boundaries · the
achievements of the American economic system. 4.
Instructor Information 1).
Contact information Contact
information is:
Office: SOM 3.223, You
can contact me anytime by email, and – for on-campus sections - see me by
appointment in my office. 2).
Instructor brief biography I
was born and grew up in Johannesburg, South Africa. I received a BA (honors)
degree in Economics and History from the University of the Witwatersrand in
Johannesburg in 1969. In September 1972, after teaching at the business
school at that University, I left to study at the University of Chicago. I
received a Ph.D. in Economics from the University of Chicago in 1979. I was
fortunate to have as teachers at least four Nobel prize winners. In January
1979 I moved with my family to Dallas, where we have lived ever since. After
seven years as an academic, I tried my hand in an entrepreneurial venture and
joined a friend in a startup business called Soft Warehouse. Today it is
called CompUSA. I was one of its founding shareholders. It was a difficult
but very educational experience. In 1992 I decided to return to academics and
have been with the UTD School of Management since 1997. I love my job. I have
a passion for teaching and for economics. My
wife and I were married in December 1969. We have four children and ten
grandchildren. To
see more about my professional and personal life visit my website at http://www.utdallas.edu/~plewin/ 5.
Course Materials Textbooks
and Materials In
addition to the PowerPoints and notes, I have provided multiple videos from
the online textbook featuring microeconomics and macroeconomics by Tyler Cowen, Alex Tabarok and
associates located here: https://www.mruniversity.com/
The videos available in this online textbook provide valuable additional
material. I have indicated which videos are related to which of our lessons
in the reading outline below. I do not use a particular hard copy textbook. All the
information you need is in the PowerPoint slides and the notes that accompany
them. But, for supplementary reading you may want to check out the hard copy
version here.
Ideas
in economics can be learned from multiple sources. I will post supplementary
material to complement the text and the lectures. In addition
any basic text may help solidify the fundamentals and add to insight
and understanding. [A good example is Economics by Walter J. Wessels (any
will do), Barrons, Available here.
Students
will be evaluated on three multiple choice exams. The exams are worth
together 100 points. There
will be two online timed midterms 1 hour each (25 questions) and a
comprehensive final test (50% - 25 questions from the last third of course,
25 questions from any part of the course, - 2
hour limit).
Please note the procedure for dealing
with questions and concerns after taking a test. Once the test period has
expired and the correct answers have been released, if you have questions or
concerns (maybe an alternative interpretation of the question yielding a
different answer), compose an email stating clearly your concern or what you
do not understand for each question you wish to discuss and send it to me.
Please reference the question by number and title (if available) and cut and
paste as much of it as you can. I will take all such queries on a
first-come/first-serve basis and get back to you as soon as I can with my
answers. –––– To take the tests in this class you
will need Lockdown Browser. Please download and install it HERE. Follow the instructions.
The
following are the grades that are possible to earn in this class. A, A-,
B+, B, B-, C+, C, and F, X. The actual grade distribution for each test will be
determined by the total class performance. I will publish a grade
distribution, linking scores to grades, after each test and for the course as
a whole. I
make extensive use of eLearning in all of my
courses. You should monitor the course on elearning
frequently for announcements, discussions and supplementary material Interaction
with Instructor: I will communicate with students mainly through the Course
Announcements (copied as an email to students). Students may send personal
concerns or questions to me using plewin@utdallas.edu.
I will reply to student emails messages within 2 working days under normal
circumstances. Interaction
with other students: You may communicate and interact with other
students using either email, discussion board or the communication tools
shown on the course menu. Student
Resources: All students have access to
resources including the McDermott Library, Academic Advising, The Office of
Student Accessibility, and many others. Make-up
exams Make
up exams will be given only in exceptional circumstances Extra
Credit There
will be no extra credit assignments Special
Assignments There
are no special assignments For
all sections: Students are required to login regularly to the online class
site. The instructor can use the tracking feature in eLearning to monitor
student activity. University Policies Relevant for
Students: Comet
Creed This
creed was voted on by the UT Dallas student body in 2014. It is a standard
that Comets choose to live by and encourage others to do the same: “As
a Comet, I pledge honesty, integrity, and service in all that I do.” UT
Dallas Syllabus Policies and Procedures Please
go to http://go.utdallas.edu/syllabus-policies for these policies. Scholastic
Honesty The
University has policies and discipline procedures regarding scholastic dishonesty.
Detailed information is available on the UTD Judicial Affairs web page. All
students are expected to maintain a high level of responsibility with respect
to academic honesty. Students who violate University rules on scholastic
dishonesty are subject to disciplinary penalties, including the possibility
of failure in the course and/or dismissal from the University. Since such
dishonesty harms the individual, all students and the integrity of the
University, policies on scholastic dishonesty will be strictly enforced. Students
are provided with an opportunity of completing an evaluation for each
enrolled course at the end of the semester. An online instructional
assessment form will be made available for your confidential use. An email
notification will be sent to you towards the end of the semester. Online
behavior - Virtual Classroom Citizenship The
same guidelines that apply to traditional classes should be observed in the
virtual classroom environment. Please use proper netiquette when interacting
with class members and the professor. Technical Requirements Course Access and Navigation To become familiar with the
eLearning tool, please see the Student eLearning Tutorials https://ets.utdallas.edu/elearning/students/current/tutorials. UT Dallas provides eLearning
technical support 24 hours a day/7 days a week. The
eLearning Support Center https://ets.utdallas.edu/elearning/helpdesk
services include a toll free telephone number for
immediate assistance (1-866-588-3192), email request service, and an online
chat service. Communication Student emails and discussion
board messages will be answered within 3 working days under normal
circumstances. Distance
Learning Student Resources https://ets.utdallas.edu/elearning/students/current for details. Server Unavailability or Other
Technical Difficulties The University is committed to
providing a reliable learning management system to all users. However, in the
event of any unexpected server outage or any unusual technical difficulty
which prevents students from completing a time sensitive assessment activity,
the instructor will provide an appropriate accommodation based on the
situation. Students should immediately report any problems to the instructor
and also contact the online eLearning Help Desk https://ets.utdallas.edu/elearning/helpdesk.
The instructor and the eLearning Help Desk will work with the student to
resolve any issues at the earliest possible time. University
Policies General policies, including policies on Academic Honesty
and Integrity. The information contained in the
following link constitutes the University’s policies and procedures segment
of the course syllabus. http://go.utdallas.edu/syllabus-policies. Student Conduct & Discipline The University of Texas System and The University of Texas
at Dallas have rules and regulations for the orderly and efficient conduct of
their business. It is the responsibility of each student and each student
organization to be knowledgeable about the rules and regulations which govern
student conduct and activities. The University of Texas at Dallas administers student
discipline within the procedures of recognized and established due process.
Procedures are defined and described in the Rules and Regulations of the
Board of Regents of the University of Texas System, Part 1, Chapter VI,
Section 3, and in Title V, Rules on Student Services and Activities of the
Course Syllabus Page 8, University’s Handbook of Operating Procedures. Copies
of these rules and regulations are available to students in the Office of the
Dean of Students, where staff members are available to assist students in
interpreting the rules and regulations (SSB 4.400, 972/883- 6391). A student at the university neither loses the rights nor
escapes the responsibilities of citizenship. He or she is expected to obey
federal, state, and local laws as well as the Regents’ Rules, university
regulations, and administrative rules. Students are subject to discipline for
violating the standards of conduct whether such conduct takes place on or off
campus, or whether civil or criminal penalties are also imposed for such
conduct. The
descriptions and timelines contained in this syllabus are subject to change
at the discretion of the Professor. ©
Peter Lewin, plewin@utdallas.edu 2024 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
