Syllabus

Principles of Microeconomics

1185-FIU01-ECO-2023-SECRVDA-52843

    General Information

    Professor Information

    Professor Photo
    Badi Sabet
    By Appointment via Adobe Connect; Use Canvas Inbox to request an appointment
    Please use Canvas Inbox
    954-288-0175
    (No calls after 10pm EST)
    VH-136 (MMC)
    Thomas Giles 
    Email: tgile003@fiu.edu

    Course Description And Purpose

    The course deals with the nature and overall understanding of the detailed analysis of our aggregate economy which includes international trade, supply and demand, elasticity, efficient markets, externalities, public good, tax system, production cost, and competitive markets such as monopoly, oligopoly and monopolistic competition, and finally, factors of production will be discussed. 

    Course Objectives

    Students should be able to articulate on the following subject matter after completing this course successfully:

    • Identify how the micro economy operates in relation to human decision-making and the production of goods and services [Module 1]
    • Explain the operation of market forces, such as supply and demand, elasticities, and identify major economic theories, hypotheses, analyses and general equilibrium [Module 1]
    • Identify the trade-offs model and comparative advantage [Module 1]
    • Identify externalities and environmental issues [Module 2]
    • Identify consumer choice, utility, and the role of the government in economic decision making [Module 2]
    • Identify a firm, its varieties in each of the four market structures: purely competitive, monopoly, monopolistic competitive, oligopolistic market, and the role of marginality [Module 2] 
    • Articulate the economics of the health care system and the role of the government [Module 2]
    • Successfully interpret international economy and sovereign regulations [Module 2]
    • Identify indifference curve and consumer budget lines as they relate to utility maximization [Module 3]
    • Distinguish profit maximization, loss minimization and shutdown cases in four market structures [Module 4]
    • Explain pricing policies and discrimination in general, and in the four market structures [Module 4]

    Important Information

    Policies

    Please check this section carefully before you proceed to read the rest of the syllabus:

    1. This is a fully online course which provides flexibility within limits.
    2. If you take a vacation or business trip, you still need to fulfill your responsibilities with regard to assignment (essays or cases) and exam deadlines.
    3. Only medical emergencies, with documentation, will be accepted for exam make-ups.
    4. I will not elevate the final average to the next highest decimal, even if it is a minuscule amount.
    5. Please read the Syllabus carefully, line by line – especially the section where it says "Prepare Your Computer" – and ensure that you submit assignments timely and allow sufficient time to take your exams (do not start your exam at 11:00 pm, or submit your assignment at 11:29 pm).

    Please review the policies page as it contains essential information regarding guidelines relevant to all courses at FIU and additional information on the standards for acceptable netiquette important for online courses.

    Technical Requirements and Skills

    One of the greatest barriers to taking an online course is a lack of basic computer literacy. By computer literacy we mean being able to manage and organize computer files efficiently, and learning to use your computer's operating system and software quickly and easily. Keep in mind that this is not a computer literacy course; but students enrolled in online courses are expected to have moderate proficiency using a computer. Please go to the "What's Required" webpage to find out more information on this subject.

    Please visit our Technical Requirements webpage for additional information.

    Accessibility And Accommodation

    The Disability Resource Center collaborates with students, faculty, staff, and community members to create diverse learning environments that are usable, equitable, inclusive and sustainable. The DRC provides FIU students with disabilities the necessary support to successfully complete their education and participate in activities available to all students. If you have a diagnosed disability and plan to utilize academic accommodations, please contact the Center at 305-348-3532 or visit them at the Graham Center GC 190.

    Please visit our ADA Compliance webpage for information about accessibility involving the tools used in this course.

    Please visit the LMS Accessibility webpage for more information:

    For additional assistance please contact FIU's Disability Resource Center.

    Academic Misconduct Statement

    Florida International University is a community dedicated to generating and imparting knowledge through excellent teaching and research, the rigorous and respectful exchange of ideas and community service. All students should respect the right of others to have an equitable opportunity to learn and honestly to demonstrate the quality of their learning. Therefore, all students are expected to adhere to a standard of academic conduct, which demonstrates respect for themselves, their fellow students, and the educational mission of the University. All students are deemed by the University to understand that if they are found responsible for academic misconduct, they will be subject to the Academic Misconduct procedures and sanctions, as outlined in the Student Handbook.

    Academic Misconduct includes: Cheating – The unauthorized use of books, notes, aids, electronic sources; or assistance from another person with respect to examinations, course assignments, field service reports, class recitations; or the unauthorized possession of examination papers or course materials, whether originally authorized or not. Plagiarism – The use and appropriation of another’s work without any indication of the source and the representation of such work as the student’s own. Any student who fails to give credit for ideas, expressions or materials taken from another source, including internet sources, is responsible for plagiarism.

    Learn more about the academic integrity policies and procedures as well as student resources that can help you prepare for a successful semester.

    Course Prerequisites

     There are no prerequisites for this course.

    Proctored Exam Policy

    The professor reserves the right to require proctored make-up exams if necessary. See Missed Exam Policy below.

    Textbook

    Textbook Image
    Microeconomics (you do not need an access code)
    R. Glenn Hubbard, Glenn P. Hubbard, Anthony P. O'Brien
    Prentice Hall, 2016-01-11
    ISBN-10: 0134106245
    ISBN-13: 9780134106243
    You may purchase your textbook online at the FIU Bookstore.

    Recommended Readings

    Students are encouraged to go online or visit the library of their choice and read recent economic journals and articles in the Wall Street Journal related to economic matters. Please refer to the following distance learning instructions provided by FIU Library. 

    Expectations Of This Course

    This is an online course, which means most (if not all) of the course work will be conducted online. Expectations for performance in an online course are the same for a traditional course. In fact, online courses require a degree of self-motivation, self-discipline, and technology skills which can make these courses more demanding for some students.

    Students are expected to:

    • Review the How to Get Started information located in Modules
    • Introduce yourself to the class during the first week by posting a self introduction in the appropriate discussion forum
    • Take the practice quiz to ensure that your computer is compatible with Canvas
    • Interact online with instructor and peers
    • Review and follow the course calendar
    • Log in to the course daily
    • Respond to discussion boards by the deadline
    • Respond to messages daily
    • Submit assignments by the corresponding deadline

    The instructor will:

    • Log in to the course daily
    • Respond to discussion boards during and after the deadline
    • Respond to messages daily, otherwise students will be notified
    • Grade assignments within 3-7 days of the assignment deadline, based on the number of enrollees

    Course Detail

    Course Communication

    Communication in this course will take place within Canvas. See the Canvas Guide on communicating with course users for more information.

    Adobe Connect Office Hours

    Adobe Connect is an online meeting room where you can interact with your professor and fellow students by sharing screens or files, chat, broadcast live audio, and take part in other interactive online activities. We will be utilizing this tool to conduct office hours.

    Meetings will be available by appointment.

    Requirements for using Adobe Connect:

    • Disable any window pop-up blocker.
    • Adobe Flash Player is required to successfully run your Adobe Connect meeting. You can test your computer to make sure your computer and network connections are properly configured to provide you with the best possible Adobe Connect meeting experience.
    • Use of a combination headset and microphone with USB connection is recommended to ensure quality sound and reduce technical difficulties.

      Reference Adobe Connect (Tutorials & Help) for additional information.

    Student Bio Activity & Successful Online Student Activity

    Student Bio Activity

    During the first week of class, every student should create his/her own student bio using the course's Discussion Forum, which can be accessed from the left-hand navigation menu.

    You are encouraged to include following in your bio: name, status in your current program, educational background to date, the reason you take this course, your expectation of this course, your experience with any aspect of online learning, work experience, career plans, and personal plans. (No longer than 500 words). You all have a choice of attaching your digital picture (optional).

    Successful Online Student Activity

    Think about important factors that contribute to being successful in an online course. List five most important factors from your perspective and explain how those factors can help you to be successful in this course.
    The following articles can help you decide:

    This activity should be posted on the Discussion Forum in the "Successful Online Students" category.

    Discussion Forums

    There will be three discussion forums (12 points total - 4 points each)

    Students will be discussing important economic topics and their effect on today’s society. Please go to the Discussion Forum to see the topics.

    If plagiarism occurs, the consequence at a minimum is receiving an F for the course. You need to format your answers according to the instructions (exactly) given below. Any violation will result in a point deduction.

    You must:

    • Conduct your own research
    • Provide a minimum of three (3) references, excluding the text
    • Provide a minimum of three (3) feedbacks to other students' submissions. 
    • Each feedback must be 50-75 words.
    • Identical feedback will not be graded.

    Note: Discussion boards will only be available during the time stated in the course calendar and cannot be made up.

    The purpose of selecting particular essay topics is to create a learning environment and allow students to enhance their knowledge of micro-economics. Essay topics are designed to enhance the student’s knowledge by researching the topic, reading, and extrapolating the knowledge in writing and formatting it for grading purposes. Please go to Assignment Drop Box to see the question(s).
     
    If plagiarism occurs, the consequence at a minimum is receiving an F for the course. You need to format your answers according to the instructions (exactly) given below. Any violation will result in a point deduction.

    Discussion Rubric:

    Criteria Scale
    Initial Response 0-2 Points
    3 Feedback Responses to Peers 0-1 Point
    3 References 0-1 Point

    Exams

    There will be four exams (88 points total - 22 points each). All exams are fully online.

    A total of four exams, (please click on the "Assessments" link on the left-hand side navigation bar for dates and times). All exams consist of 50 multiple choice questions, and each question will be worth 0.44 points. Each exam will be available for one day from 12:00am to 11:30pm. Once you open an exam, you will have 90 minutes to complete and submit it.

    IMPORTANT: Although you will be allowed to begin your exam at any time before 11:30pm, IT WILL BE AUTOMATICALLY SUBMITTED AT 11:30PM BY THE SYSTEM.

    If you need help understanding the materials, you can always go to the Tutoring Center, which is located at VH-136.

    Exams Weight Chapters
    Exam 1 22 points of total grade Chapters 1, 2, 3, 4
    Exam 2 22 points of total grade Chapters 5, 6, 7, 8
    Exam 3 22 points of total grade Chapters 9, 10, 11, 12
    Exam 4 22 points of total grade Chapters 13, 14, 15, 16

    Exams are not cumulative. Students are to work alone. Questions will be randomized and taken from a pool, therefore collaboration is not allowed. To successfully complete the exam on a timely basis, be familiar with the content. If you want to review your results,  you MUST go to the professor's office hours. No exam results will be available online.

    In order to mitigate any issues with your computer and online assessments, it is very important that you take the "Practice Quiz" from each computer you will be using to take your graded quizzes and exams. It is your responsibility to make sure your computer meets the minimum hardware requirements.

    Assessments in this course are not compatible with mobile devices and should not be taken through a mobile phone or a tablet. If you need further assistance please contact FIU Online Support Services.

    Missed Exams Policy

    You can make an appointment with me to discuss any problem that you might have before the exam, and I will be very glad to answer your questions and help you as much as I can.

    A missed exam must have a documented excuse. It will be up to the professor to grant a make-up exam based on the excuse. 

    If a student does not have a legitimate excuse for missing an exam, it will be up to the professor to determine whether or not a make-up exam will be allowed, and the manner and location in which the exam will be administered.

    Any requests for a make-up exam must be brought to the professors attention within 72 hours of the missed exam.

    Grading

    Course Requirements Points
    Exam 1 22
    Exam 2 22
    Exam 3 22
    Exam 4 22
    Discussion 1 4
    Discussion 2 4
    Discussion 3 4
    Total 100
    Letter Grade Range Letter Grade Range Letter Grade Range
    A 90 - 100 B 77 - 80 C 66 - 68
    A- 86 - 89 B- 73 - 76 D 60 - 65
    B+ 81 - 85 C+ 69 - 72 F 0 - 59

    Course Calendar

    Weekly Schedule

    Date Tasks
    Module 1
    May 7-20
    Review the How to Get Started information located in the Course Content

    Content:
    Chapter 1 - Economics: Foundations and Models (Includes Appendix)
    Chapter 2 - Trade-Offs, Comparative Advantage, and Market System
    Chapter 3 - Where Prices Come From: The Interaction of Demand and Supply
    Chapter 4 - Economic Efficiency, Government Price Setting, and Taxes (Includes Appendix)
     

    Assignments and Assessments:
    Student Bio Activity due SUNDAY, May 13 at 11:30pm
    Successful Online Student Activity due SUNDAY, May 13 at 11:30pm
    Discussion 1 available MONDAY, May 14 at 12:00am until SUNDAY, May 20 at 11:30pm
    Exam 1 available on SUNDAY, May 20 from 12:00am-11:30pm

    Important Dates:
    Classes begin: Monday, May 7 
    Last day to add/drop without financial liability: Monday, May 14

    Module 2
    May 21-27
    Content:
    Chapter 5 - Externalities, Environmental Policy, and Public Goods
    Chapter 6 - Elasticity: Responsiveness of Demand and Supply 
    Chapter 7 - The Economics of Health Care
    Chapter 8 - Firms, the stock market, and Corporate Governance (Includes Appendix)

    Assignments and Assessments:
    Discussion 2 available MONDAY, May 21 at 12:00am until SUNDAY, May 27 at 11:30pm
    Exam 2 Available on SUNDAY, May 27 from 12:00am-11:30pm
    Module 3
    May 28 - June 3
    Content:
    Chapter 9 - Comparative Advantage and the Gain from International Trade (Includes Appendix)
    Chapter 10 - Consumer Choice and Behavioral Economics
    Chapter 11 - Technology, Production, and Costs
    Chapter 12 - Firms in Perfectly Competitive Markets
     

    Assignments and Assessments:
    Discussion 3 available MONDAY, May 28 at 12:00am until SUNDAY, June 3 at 11:30pm
    Exam 3 available on SUNDAY, June 3 from 12:00am-11:30pm

    Important Dates:
    University Closed: May 28

    Module 4
    June 4-15

    Content:
    Chapter 13 - Monopolistic Competition: The Competitive Model in a more Realistic Setting 
    Chapter 14 - Oligopoly: Firms in Less Competitive Markets
    Chapter 15 - Monopoly and Antitrust Policy
    Chapter 16 - Pricing Strategy

    Assignments and Assessments:
    Exam 4 available on FRIDAY, June 15 from 12:00am-11:30pm