Course Syllabus

ECO 512: Principles of Economics 4 Credits, Online Fall Term 2010, Sept. 13 - Dec. 10 (Holidays- Veteran's Day: Nov. 11 & Thanksgiving Break: Nov. 22-28) Last Updated: July 22, 2010

Instructor: Mark Friedman
Contact Info: mark@third-culture.com

Course Description

Economics is the study of how we coordinate our wants and needs as a society. The economic perspective includes three main concepts: scarcity and choice, rational behavior, and marginal analysis. Pertinent and relevant examples of current events are utilized to illustrate economic principles. This survey course addresses both macroeconomic and microeconomic principles.

Prerequisites

None.

Learning Outcomes

By the end of the course, students will be expected to:

1. demonstrate graphically and in words the concepts of supply, demand and elasticities.
2. formulate economic decisions using the basic tenets of scarcity & choice, rational behavior, and marginal analysis.
3. analyze current economic data, such as GDP, inflation and unemployment.
4. compare and contrast market and command economies to answer the fundamental questions of what, how, and for whom to produce for each type of economy.
5. distinguish between allocative and productive efficiency, and calculate the cost of economic resources under various production methods.
6. compare and contrast different market models, including monopolies and oligopolies.
7. integrate recent economic events with concepts covered in the course.
8. relate international trade and trade policies to the concept of comparative advantage and the impact on production of goods and services in various countries.

Course Resources

Textbook(s):

Economics Now!, Mark Friedman., Town and Country Reprographics, Concord, NH: 2009. ISBN # 13 978-0-9825067-0-7

Textbooks are available via GSC's online bookstore, MBS Direct at: http://bookstore.mbsdirect.net/gsc.htm (The course-CRN number for ordering this textbook is: ECO512-10168). Textbooks can also be purchased from MBS via phone, mail or fax. For additional information, visit the Online Bookstore section of the college web site.

PLEASE NOTE: It is the learner's responsibility to have purchased all required course materials before the start of the course. Learners are expected to meet all course expectations even if the shipment of a required textbook or other learning resource is delayed. Be sure to choose the shipping option that will get your text/resource delivered in a timely manner.

Other Resources: Evaluating the Credibility of Internet Resources

http://www.library.cornell.edu/olinuris/ref/research/webeval.html
http://www.lib.berkeley.edu/TeachingLib/Guides/Internet/Evaluate.html

Blackboard Orientations

There are no face-to-face sessions for this course. If you have never taken an Online Interactive Course (OIC) at the college, we highly recommend that you attend one of the 2-hour Blackboard Orientation sessions available throughout the state. If you choose not to attend a face-to-face session, you are encouraged to complete the Online Orientation with audio at your own convenience.

Course Policies

1. Make sure you have backup internet access in case your primary goes down e.g. school, library, work, cyber café, friend.
2. Knock on wood, if anyone ever runs into a personal crisis during our class (and I hope you don't!), tell me upfront (right away), just as you would tell your place of employment right away. Don't tell me one or two weeks later. mark@third-culture.com 
3. Other than issues involving personal crisis which are best managed by emailing me, the most appropriate venue for general course questions is the Questions?/Chat forum where I will reply to your questions. The advantage of placing your question here (rather than emailing me) is that classmates may have the same or a very similar question and will want to read my reply.
4. Students are expected to participate every week regardless of vacation or business travel.
5. Check your email and our course frequently for important messages. Visit the course frequently in order to absorb important lessons and keep up with the learning.
6. Any special concerns or issues should be addressed with me as early as possible.
7. Late work is accepted but bumps your Classroom Performance grade down half a letter grade e.g. if you submit a late assignment in Week 3 and you re otherwise carrying an A for Week 3 work, you will earn an A- for Week 3.

Description of Course Activities and Requirements

Classroom Performance
Classroom Performance is an integral part of this course and counts for 30% of the course grade. Three or more online forums will be created each week and you will be evaluated on the timeliness and quality of your posts and replies according to the Classroom Performance rubric. You are expected to login and participate (defined as posting/replying) on at least three separate days in the week. The classroom performance grade to date will be privately posted for student viewing every two weeks so you may understand your progress. Needless to say, I agree with .. , by itself, is not an acceptable posting or reply. If you agree (or disagree) tell us why.

Exams
The two exams in this course take place at the completion of Module 6 (covering chapters 1-13) and Module 11 (covering chapters 14-23). Each exam consists of 40 True/False statements. Each exam is worth 15% of the course grade.

• The exams are open book and not timed. However, it's recommended you don't take long breaks as Blackboard may log you off. Maintain some sort of activity in the exam during your break so Blackboard doesn't log you off. Secure a stable internet connection before beginning the exam.
• The first time you open the exam you must complete it. So, don't open the exam until you are ready to complete it.
• Once you are in the exam, you may backtrack and change answers.
• Click the forward button ("Go to Next Question") to save your answer on each statement. The forward button is on the bottom right of each statement.
• Once you have completed the exam, click on the "Save" button at the bottom of the screen before clicking the "Submit" button.
• You will receive your final score once you have submitted your exam. 

Group Project (10% of course grade)
During the first four weeks of class, you will be assigned to work in groups. The task of your group will be to determine at the end of the four week period if you wish to continue as a group and develop a group Final Project. Or, you may decide to disband and work on individual Final Projects. You will be assigned specific group topics each week on which you will communicate in your private group discussion forum. These include: getting to know group member business interests, the conduct of basic economics research, and the posting of a report on your group activities which you will share at the end of the four weeks with the larger class. You will be evaluated by the same criteria as for Classroom Performance with the addition of the extent to which you demonstrate good practice in team effectiveness.

Final Project (30% of course grade)
Your final project is due at the end of the course. It may be an individual or group effort. If you decide to accomplish it as a group project, you must indicate on the final project who accomplished which specific sections of the final project. As well, at the conclusion of the project you will email me a brief peer evaluation re: the performance of your individual group members. If it is a group project, you will be held to a proportionate higher standard of quality especially with regard to the breadth of research. If you like working in groups, this would be a good option for you.
Whether group or individual, your final project should consist of 11 - 15 PowerPoint slides or a 5 - 8 page paper (submitted as a .doc or .rtf file) on a specific economic topic of your choice. See the Final Project rubric in Modules>>>Course Essentials for more details.

Tips for Course Success

On a consistent, weekly basis:

• Carefully read the assigned reading, and the module Overview.
• When you come across material in the reading you need clarification on, ASK (don't be shy :) in the relevant forum. Classmates and/or the instructor will do their best to clarify the issue.
• The answers you receive will help you perform better in all evaluation areas of the course (classroom performance, exams, group project, and the final project).

Grading Percentages

Granite State College Standard Grading Scale

Course Schedule & Topics

Note: Except for Modules 1 and 12, the weeks all begin on Monday and conclude on Sunday

Note: The syllabus and schedule are subject to change at the discretion of the instructor.

Library Resources

Granite State College has a Virtual Library ( http://www.granite.edu/current-students/virtual-library/) available 24/7 with access to the full-text of thousands of journals and professional periodicals, an online Reference Room, selected Internet resources, writer's resources, research and citation help, and a collection of tutorials. The databases are password protected.

See GSC Library tab in MyGranite for username and password. In addition, the Library Info link in the course menu provides direct links to research databases, Research FAQs and more.

Academic Resources and Information Services

Academic assistance to students is available at GSC Centers at no additional charge in such areas as basic skills preparation in reading, writing and math; study skills and research and citation help. Academic Resources staff members work closely with faculty and students toward academic success. A whole range of help is available at the centers and in the online Academic Toolkit, including study and time management tips, APA and MLA citation assistance, access to learning resources online, and feedback on course writing projects. To contact an Academic Resource and Information Coordinator, see the Academic Resource Link on the Resources page in the course menu or go directly to http://bbresources.granite.edu/course_docs/acad_resources.htm.

To access the online Academic Toolkit sign into Blackboard and click on "Academic Toolkit" under GSC Organizations.

Technical Assistance

For assistance with issues related to accessing the MyGranite portal, GSC email, Webrock, online courses or other technical issues related to any of the Blackboard tools, please visit the GSC Technical Assistance Center ( http://bbresources.granite.edu/techassist/help.htm) for answers to the most frequently asked questions or to submit an online help request form. Or call 1-888-372-4270 (Hours: M-F, 8:30-5:00, messages checked twice daily on weekends. Extended hours for the week before start of the term and first week of the term: M-Th, 8:00-7:00.)

Documented Disabilities / Americans with Disabilities Act

Granite State College will provide qualified individuals with disabilities the same educational opportunities available to persons without disabilities. When an individual's documented disability creates a barrier to educational opportunities, the College will attempt reasonable accommodation to remove the barrier. If you need assistance, we recommend that you make contact early to ensure that your requests can be reviewed prior to the start of each term. If you wish to apply for accommodations, contact your academic advisor or the Dean of Learner Services in Concord. See the complete Granite State College policy in the current college catalog for further details.

Academic Honesty

An academic community is based on honesty and integrity. Plagiarism, cheating, or other forms of academic dishonesty are not acceptable at Granite State College. Faculty and students have a joint responsibility to ensure the integrity of learning.

All work that you submit must be your own except in those instances when your instructor gives specific permission to collaborate. When quoting, summarizing or explaining ideas that are based on another's work, whether in print or online, make sure to cite references appropriately. Plagiarism is using another's words or even paraphrasing another's work without giving proper credit through the use of citations.

For Granite State College's complete academic honesty policy, see the current college catalog.

Conduct in the Online Classroom

Membership in society implies minimal norms for civil behavior towards one another. It is Granite State College's expectation that all members of our college community treat faculty, staff, and fellow learners with respect. Learners need to be knowledgeable of and comply with college policies. Each individual is accountable for his/her actions and for the consequences of any behavior that is inconsistent with these values and expectations.

Institutional Assessment

Assessment is an ongoing process that enables the College to improve its programs, courses, and teaching methods. Institutional evaluation may be embedded in tests, exams, and other measurements of student learning. As members of a learning community, students, faculty, and staff will be expected to participate in the important process of assessment on occasion. Confidentiality of any data that identify participants is maintained.

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