Module 1

Assignment

Read  "Elasticities of Demand and Supply"

Course Objectives

Study the chapter, complete the study guide, and use http://www.myeconlab.com and BlackBoard Discussion Group until you have mastered three course objectives, called checkpoints:

1. Define, explain the factors that influence, and calculate the price elasticity of demand.
2. Define, explain the factors that influence, and calculate the price elasticity of supply.
3. Define and explain the factors that influence the cross elasticity of demand and the income elasticity of demand.

 

Assessment

Each chapter has a self-test, with answers provided.  

Complete the fill-in the blanks, true-false, multiple choice, short answer and numeric problems, and complete the graphs in your study guide.

 

Module 2

Assignment

Read, "Efficiency and Fairness of Markets"

Course Objectives

Study the chapter, complete the study guide, and use http://www.myeconlab.com and Blackboard discussion group until you have mastered four course objectives, called checkpoints:

1. Distinguish between value and price and define consumer surplus.
2. Distinguish between cost and price and define producer surplus.
3. Explain the conditions in which markets are efficient and inefficient.
4. Explain the main ideas about fairness and evaluate claims that competitive markets result in unfair outcomes.

Assessment

Each chapter has a self-test, with answers provided.  

Complete the fill-in the blanks, true-false, multiple choice, short answer and numeric problems, and complete the graphs in your study guide.

 

Module 3

Assignment

Read "Government Influences on Markets"

Course Objectives

Study the chapter, complete the study guide, and use http://www.myeconlab.com  and BlackBoard Discussion Group until you have mastered three course objectives, called checkpoints:

1. Explain the effects of taxes on goods and labor and determine who pays the taxes.
2. Explain how a rent ceiling creates a housing shortage, inefficiency, and unfairness.
3. Explain how the minimum wage creates unemployment, inefficiency, and unfairness.

Assessment

Each chapter has a self-test, with answers provided.  

Complete the fill-in the blanks, true-false, multiple choice, short answer and numeric problems, and complete the graphs in your study guide.

 

Module 4

Assignment

Read "Externalities."

Course Objectives

Study the chapter, complete the study guide, and use http://www.myeconlab.com  and BlackBoard Discussion Group until you have mastered two course objectives, called checkpoints:

1. Explain why negative externalities lead to inefficient overproduction and how property rights, pollution charges, or taxes can achieve a more efficient outcome.
2. Explain why positive externalities lead to inefficient underproduction and how public provision, subsidies, vouchers, and patents can be used to achieve a more efficient outcome.

Assessment

Each chapter has a self-test, with answers provided.  

Complete the fill-in the blanks, true-false, multiple choice, short answer and numeric problems, and complete the graphs in your study guide.

Module 5

For students meeting in class

For distance-learning students

1.  Student Presentation #1 takes place. 2.  Following the presentation, a review session is held so that problems and questions asked by students are answered.  3.  Everyone then takes the exam. 4.  During the following class session, students should complete the matrix on the exam cover  showing how many points were lost on each course objective.

1.  Distance Learning students may have assumed a role in helping the live Student Presentation #1 to take place by creating PowerPoint slides. 2.  If you elected to write an issue paper instead, follow the length and format guidelines which were mentioned for taking the final exam.  Send your paper to the instructor and to your fellow classmates by 5 PM on Module 5 Part I, and send your reviews of two other student papers during Module 5 Part II. 3.  Conduct your own review session, focusing on fill-in the blank, true-false, multiple choice, short answer and numeric problems from your text, study guide, http://www.myeconlab.com.  Assist your fellow classmates with difficulties they encounter by using BlackBoard Discussion Group. 4. Then arrange with the proctor at your Learning Resource Center to take the exam. 5.  Send me an email telling me that your exam is being returned to our Learning Resource Center at Patrick Henry Community College.

Exam #1

The exam consists of fill-in the blank, true/false, multiple choice, short answer and numeric problems, and complete the graph questions similar to those in your text, study guide, and found at http://www.myeconlab.com.  

It is an individual effort exam.  The exam becomes property of the instructor.   

 

 

Module 6

Assignment

Read "Production and Cost"

Course Objectives

Study the chapter, complete the study guide, and use http://www.myeconlab.com  and BlackBoard Discussion Group until you have mastered four course objectives, called checkpoints:

1. Explain how economists measure a firm's cost of production and profit.
2. Explain the relationship between a firm's output and labor employed in the short run.
3. Explain the relationship between a firm's output and costs in the short run.
4. Derive and explain a firm's long-run average cost curve.

Assessment

Each chapter has a self-test, with answers provided.  

Complete the fill-in the blanks, true-false, multiple choice, short answer and numeric problems, and complete the graphs in your study guide.

 

Module 7

Assignment

Read text "Perfect Competition"

Study the chapter, complete the study guide, and use http://www.myeconlab.com  and BlackBoard Discussion Group until you have mastered three course objectives, called checkpoints:

Course Objectives

1. Explain a perfectly competitive firm's profit-maximizing choices and derive its supply curve.
2. Explain how output, price, and profit are determined in the short run.
3. Explain how output, price, and profit are determined in the long run.

Assessment

Each chapter has a self-test, with answers provided.  

Complete the fill-in the blanks, true-false, multiple choice, short answer and numeric problems, and complete the graphs in your study guide.

Module 8

Assignment

Read "Monopoly"

Study the chapter, complete the study guide, and use http://www.myeconlab.com  and BlackBoard Discussion Group until you have mastered five course objectives, called checkpoints:

Course Objectives

1. Explain how monopoly arises and distinguish between single-price monopoly and price-discriminating monopoly.
2. Explain how a single-price monopoly determines its output and price.
3. Compare the performance of single-price monopoly with that of perfect competition.
4. Explain how price discrimination increases profit.
5. Explain how monopoly regulation influences output, price, economic profit, and efficiency.

Assessment

Each chapter has a self-test, with answers provided.  

Complete the fill-in the blanks, true-false, multiple choice, short answer and numeric problems, and complete the graphs in your study guide.

Module 9

Assignment

Read text "Monopolistic Competition"

Study the chapter, complete the study guide, and use http://www.myeconlab.com  and BlackBoard Discussion Group until you have mastered three course objectives, called checkpoints:

Course Objectives

1. Describe and identify monopolistic competition.

2. .Explain how a firm in monopolistic competition determines its output and price in the short run and the long run.

3. Explain why advertising costs are high and why firms use brand names in monopolistic competition.

Assessment

Each chapter has a self-test, with answers provided.  

Complete the fill-in the blanks, true-false, multiple choice, short answer and numeric problems, and complete the graphs in your study guide.

 

Module 10

For students meeting in class

For distance-learning students

1.  Student Presentation #2 takes place. 2.  Following the presentation, a review session is held so that problems and questions asked by students are answered.  3.  Everyone then takes the exam. 4.  During the following class session, students should complete the matrix on the exam cover  showing how many points were lost on each course objective.

1.  Distance Learning students may have assumed a role in helping the live Student Presentation #2 to take place by creating PowerPoint slides. 2.  If you elected to write an issue paper instead, follow the length and format guidelines which were mentioned for taking the final exam.  Send your paper to the instructor and to your fellow classmates by 5 PM on Module 10 Part I, and send your reviews of two other student papers during Module 10 Part II. 3.  Conduct your own review session, focusing on fill-in the blank, true-false, multiple choice, short answer and numeric problems from your text, study guide, and http://www.myeconlab.com  .  Assist your fellow classmates with difficulties they encounter by using BlackBoard Discussion Group. 4. Then arrange with the proctor at your Learning Resource Center to take the exam. 5.  Send me an email telling me that your exam is being returned to our Learning Resource Center at Patrick Henry Community College.

 

Exam #2

The exam consists of fill-in the blank, true/false, multiple choice, short answer and numeric problems, and complete the graph questions similar to those in your text, study guide, and found at http://www.myeconlab.com.  

It is an individual effort exam.  The exam becomes property of the instructor.   

 

 

Part Three

Module 11

Assignment

Read text "Oligopoly"

Study the chapter, complete the study guide, and use http://www.myeconlab.com   and BlackBoard Discussion Group until you have mastered three course objectives, called checkpoints:

Course Objectives

 

1. Describe and identify oligopoly and explain how it arises.

2. .Explore the range of possible price and quantity outcomes and describe the dilemma faced by firms in oligopoly.

3. .Use game theory to explain how price and quantity are determined in oligopoly.

 

Assessment

Each chapter has a self-test, with answers provided.  

Complete the fill-in the blanks, true-false, multiple choice, short answer and numeric problems, and complete the graphs in your study guide.

 

Module 12

Assignment

Read text "Regulation and Antitrust Law"

Course Objectives

Study the chapter, complete the study guide, and use http://www.myeconlab.com or   and BlackBoard Discussion Group until you have mastered two course objectives, called checkpoints:

1. Distinguish between the public interest and capture theories of regulation, and explain how regulation affects prices, outputs, profits, and the distribution of surpluses between consumer and producers.
2. Describe U.S. antitrust law and explain how it has been applied in some landmark cases and how it is used today.

Assessment

Each chapter has a self-test, with answers provided.  

Complete the fill-in the blanks, true-false, multiple choice, short answer and numeric problems, and complete the graphs in your study guide.

 

Module 13

Assignment

Read text "Demand and Supply in Factor Markets"

Course Objectives

Study the chapter, complete the study guide, and use http://www.myeconlab.com or  and BlackBoard Discussion Group until you have mastered five course objectives, called checkpoints:

1. Describe the anatomy of the markets for labor, capital, and land.
2. Explain how marginal revenue product determines the demand for a factor of production.
3. Explain how wage rates and employment are determined.
4. Explain how interest rates, borrowing, and lending are determined.
5. Explain how rents and natural resource prices are determined.

Assessment

Each chapter has a self-test, with answers provided.  

Complete the fill-in the blanks, true-false, multiple choice, short answer and numeric problems, and complete the graphs in your study guide.

 

Module 14

Assignment

Read text "Inequality and Poverty"

Course Objectives

Study the chapter, complete the study guide, and use http://www.myeconlab.com  and BlackBoard Discussion Group until you have mastered three course objectives, called checkpoints:

1. Describe the inequality in income and wealth in the United States and explain why wealth inequality is greater than income inequality.
2. Explain how economic inequality arises.
3. Explain the effects of taxes, social security, and welfare programs on economic inequality.

Assessment

Each chapter has a self-test, with answers provided.  

Complete the fill-in the blanks, true-false, multiple choice, short answer and numeric problems, and complete the graphs in your study guide.

 

Module 15

For students meeting in class

For distance-learning students

1.  Student Presentation #3 takes place. 2.  Following the presentation, a review session is held so that problems and questions asked by students are answered.  3.  Everyone then takes the exam. 4.  During the following class session, students should complete the matrix on the exam cover  showing how many points were lost on each course objective.

1.  Distance Learning students may have assumed a role in helping the live Student Presentation #3 to take place by creating PowerPoint slides. 2.  If you elected to write an issue paper instead, follow the length and format guidelines which were mentioned for taking the final exam.  Send your paper to the instructor and to your fellow classmates by 5 PM on Module 15 Part I, and send your reviews of two other student papers during Module 15 Part II. 3.  Conduct your own review session, focusing on fill-in the blank, true-false, multiple choice, short answer and numeric problems from your text, study guide, and http://www.myeconlab.com .  Assist your fellow classmates with difficulties they encounter by using BlackBoard Discussion Group. 4. Then arrange with the proctor at your Learning Resource Center to take the exam. 5.  Send me an email telling me that your exam is being returned to our Learning Resource Center at Patrick Henry Community College.

Exam #3

The exam consists of fill-in the blank, true/false, multiple choice, short answer and numeric problems, and complete the graph questions similar to those in your text, study guide, and found at http://www.myeconlab.com.  

It is an individual effort exam.  The exam becomes property of the instructor.