ECON201 Microeconomics for Business Length
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ECON201 Microeconomics for Business Length
ECON201
Course Summary Course : ECON201 Title : Microeconomics for Business Length of Course : 8 Faculty : Prerequisites : N/A Credit Hours : 3
Description Course Description:
Microeconomics for Business is an overview course that covers how microeconomics impacts business operations and the strategic management of the organization. Households (consumers), firms (producers), and governments are examined to assess how they interact in competitive and other markets to set prices, and determine what and how much is produced. Key concepts introduced include the role of scarcity and choice, incentives and competition, and the law of supply and demand.
Course Scope:
This course provides an introduction to the theory and practice of microeconomics. The primary focus of this course is on how individuals, households, businesses and societies deal with the fundamental economic problem of scarcity through the operation of markets. In this course the students will be introduced to the mechanics of a market economy and will understand how markets facilitate the efficient usages of scare resources.
Objectives LO-1 Discuss the application of microeconomic theory to business. LO-2 Differentiate between major economic systems. LO-3 Explain the microeconomic problems faced by business during resources allocation to satisfy societal wants. LO-4 Apply the concepts of supply and demand within business settings. LO-5 Define and distinguish various economic costs (implicit, explicit, fixed, and variable costs). LO-6 Examine the law of diminishing returns. LO-7 Explore the impact that the ease of market entry and exit has on economic and business efficiency.
Outline Week 1: Introduction to Economic Thinking
Learning Outcomes
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LO-1 Discuss the application of microeconomic theory to business. LO-2 Differentiate between major economic systems. LO-3 Explain the microeconomic problems faced by business during resources allocation to satisfy societal wants.
Week 2: Demand, Supply, and Market Equilibrium
Learning Outcomes
LO-1 Discuss the application of microeconomic theory to business. LO-3 Explain the microeconomic problems faced by business during resources allocation to satisfy societal wants. LO-4 Apply the concepts of supply and demand within business settings.
Week 3: Elasticity
Learning Outcomes
LO-1 Discuss the application of microeconomic theory to business. LO-3 Explain the microeconomic problems faced by business during resources allocation to satisfy societal wants.
Week 4: Consumer Choice
Learning Outcomes
LO-4 Apply the concepts of supply and demand within business settings. LO-6 Examine the law of diminishing returns.
Week 5: Businesses and Their Cost
Learning Outcomes
LO-3 Explain the microeconomic problems faced by business during resources allocation to satisfy societal wants. LO-5 Define and distinguish various economic
Week 6: Pure Competition & Monopoly
Learning Outcomes
LO-7 Explore the impact that the ease of market entry and exit has on economic and business efficiency.
Week 7: Monopolistic Competition and Oligopoly
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Learning Outcomes
LO-7 Explore the impact that the ease of market entry and exit has on economic and business efficiency.
Week 8: Final Exam
Learning Outcomes
LO-1 Discuss the application of microeconomic theory to business. LO-2 Differentiate between major economic systems. LO-3 Explain the microeconomic problems faced by business during resources allocation to satisfy societal wants. LO-4 Apply the concepts of supply and demand within business settings. LO-5 Define and distinguish various economic costs (implicit, explicit, fixed, and variable costs). LO-6 Examine the law of diminishing returns. LO-7 Explore the impact that the ease of market entry and exit has on economic and business efficiency.
Grade %
Evaluation Grading: Name Discussions 40.00 %
5.00 % 5.00 % 5.00 % 5.00 % 5.00 % 5.00 % 5.00 % 5.00 %
Week 1: Discussion 1 Week 2: Discussion 2 Week 3: Discussion 3 Week 4: Discussion 4 Week 5: Discussion 5 Week 6: Discussion 6 Week 7: Discussion 7 Week 8: Discussion 8 Midterm Exam 20.00 % Midterm 20.00 % Final Exam 20.00 % Final Exam 20.00 % Quizzes 10.00 % Week 1 Quiz (Chapters 1 & 2) 1.67 % Week 2 Quiz (Chapter 3) 1.67 % Week 3 Quiz (Chapter 4 & 5) 1.67 % Week 5 Quiz (Chapter 8) 1.67 % Week 6 Quiz (Chapter 9 & 10) 1.67 % Week 7 Quiz (Chapter 11) 1.67 % Term Papers 10.00 % Term Paper #1 5.00 % Term Paper #2 5.00 %
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Materials Book Title: Principles of Microeconomics, v. 2.0 – E-book links provided inside the classroom Author: Rittenberg Publication Info: FlatWorld Knowledge ISBN: FLATWORLD-MICRO2
Course Guidelines Citation and Reference Style
Students will follow APA format as the sole citation and reference style used in written assignments submitted as part of coursework to the School of Business. Please note that no formal citation style is required on discussion assignments in the School of Business—only attribution of sources (please see details regarding discussion communication below).
Tutoring
Tutor.com offers online homework help and learning resources by connecting students to certified tutors for one-on-one help. AMU and APU students are eligible for 10 free hours of tutoring provided by APUS. Tutors are available 24/7 unless otherwise noted. Tutor.com also has a SkillCenter Resource Library offering educational resources, worksheets, videos, websites and career help. Accessing these resources does not count against tutoring hours and is also available 24/7. Please visit the APUS Library and search for ‘Tutor’ to create an account.
Late Assignments
Students are expected to submit classroom assignments by the posted due date and to complete the course according to the published class schedule. The due date for each assignment is listed under each assignment. Generally speaking, if arrangements are not made in advance, a late penalty of 10% will be assessed for any assignment submitted 1-7 days past the due date. Assignments will not be accepted after the 7th day. No work will be accepted past the final day of class, unless prior arraignments have been made with the instructor. As a working adult, your time is limited and often out of your control. Faculty may be more flexible if they know ahead of time of any potential late assignments.
Turn It In
Faculty may require assignments be submitted to Turnitin.com. Turnitin.com will analyze an assignment submission and report a similarity score. Your assignment submission is automatically processed through the assignments area of the course when you submit your work.
Academic Dishonesty
Academic Dishonesty incorporates more than plagiarism, which is using the work of others without citation. Academic dishonesty includes any use of content purchased or retrieved from web services such as CourseHero.com or Scribd. Additionally, allowing your work to be placed on such web services is academic dishonesty, as it is enabling the dishonesty of others. The copy and pasting of content from any web page, without citation as a direct quote, is academic dishonesty. When in doubt, do not copy/paste, and always cite.
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http://www.tutor.com/colleges/landing/apus
Submission Guidelines
Some assignments may have very specific requirements for formatting (such as font, margins, etc) and submission file type (such as .docx, .pdf, etc). See the assignment instructions for details. In general, standard file types such as those associated with Microsoft Office are preferred, unless otherwise specified. It is the student’s responsibility to ensure the all submitted work can be accessed and opened by the instructor.
Disclaimer Statement
Course content may vary from the outline to meet the needs of a particular group or class.
Communicating on the Discussion
Discussions are the heart of the interaction in this course. The more engaged and lively the exchanges, the more interesting and fun the course will be. Only substantive comments will receive credit. Although there is a final posting day/time after which the instructor will grade and provide feedback, it is not sufficient to wait until the last day to contribute your comments/questions on the discussion. The purpose of the discussions is to actively participate in an on-going discussion about the assigned content. “Substantive” means comments that contribute something new and important to the discussion. Thus a message that simply says “I agree” is not substantive. A substantive comment contributes a new idea or perspective, a good follow-up question to a point made, offers a response to a question, provides an example or illustration of a key point, points out an inconsistency in an argument, etc. As a class, if we run into conflicting view points, we must respect each individual’s own opinion. Hateful and hurtful comments towards other individuals, students, groups, peoples, and/or societies will not be tolerated. Students must post a response to the weekly discussions prompt and post the required number of replies to other students – refer to the grading rubric and/or discussion instructions for specific expectations on number of replies and word count requirements. The main response to the discussion need to be provided mid-week – refer to the grading rubric and/or discussion instructions for specific expectations. Late main response posts to a discussion will not be accepted without prior instructor approval. Replies must be posted in the week due and replies after the end of the each week will not be graded.
Quizzes and Exams
Quizzes and exams may consist of true/false, multiple choice, and short essay questions. Each quiz/exam is accessible only once. Once a quiz/exam is accessed, you will not be able to access it again if you disconnect. Therefore, allocate time to complete your quiz. Weekly quizzes must be submitted by midnight Eastern Time, Day 7 of the assigned week. Late quizzes or exams will not be accepted without prior instructor approval.
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University Policies Student Handbook
Drop/Withdrawal policy
Extension Requests
Academic Probation
Appeals
Disability Accommodations
The mission of American Public University System is to provide high quality higher education with emphasis on educating the nation’s military and public service communities by offering respected, relevant, accessible, affordable, and student-focused online programs that prepare students for service and leadership in a diverse, global society.
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http://www.apus.edu/student-handbook/extension/
http://www.apus.edu/student-handbook/academic-probation/index.htm
http://www.apus.edu/student-handbook/appeals-matrix/index.htm
http://www.apus.edu/student-handbook/Disability-Accommodations/index.htm
Course Summary
Description
Objectives
Outline
Week 1: Introduction to Economic Thinking
Week 2: Demand, Supply, and Market Equilibrium
Week 3: Elasticity
Week 4: Consumer Choice
Week 5: Businesses and Their Cost
Week 6: Pure Competition & Monopoly
Week 7: Monopolistic Competition and Oligopoly
Week 8: Final Exam
Evaluation
Materials
Course Guidelines
University Policies
RUBRIC
QUALITY OF RESPONSE NO RESPONSE POOR / UNSATISFACTORY SATISFACTORY GOOD EXCELLENT Content (worth a maximum of 50% of the total points) Zero points: Student failed to submit the final paper. 20 points out of 50: The essay illustrates poor understanding of the relevant material by failing to address or incorrectly addressing the relevant content; failing to identify or inaccurately explaining/defining key concepts/ideas; ignoring or incorrectly explaining key points/claims and the reasoning behind them; and/or incorrectly or inappropriately using terminology; and elements of the response are lacking. 30 points out of 50: The essay illustrates a rudimentary understanding of the relevant material by mentioning but not full explaining the relevant content; identifying some of the key concepts/ideas though failing to fully or accurately explain many of them; using terminology, though sometimes inaccurately or inappropriately; and/or incorporating some key claims/points but failing to explain the reasoning behind them or doing so inaccurately. Elements of the required response may also be lacking. 40 points out of 50: The essay illustrates solid understanding of the relevant material by correctly addressing most of the relevant content; identifying and explaining most of the key concepts/ideas; using correct terminology; explaining the reasoning behind most of the key points/claims; and/or where necessary or useful, substantiating some points with accurate examples. The answer is complete. 50 points: The essay illustrates exemplary understanding of the relevant material by thoroughly and correctly addressing the relevant content; identifying and explaining all of the key concepts/ideas; using correct terminology explaining the reasoning behind key points/claims and substantiating, as necessary/useful, points with several accurate and illuminating examples. No aspects of the required answer are missing. Use of Sources (worth a maximum of 20% of the total points). Zero points: Student failed to include citations and/or references. Or the student failed to submit a final paper. 5 out 20 points: Sources are seldom cited to support statements and/or format of citations are not recognizable as APA 6th Edition format. There are major errors in the formation of the references and citations. And/or there is a major reliance on highly questionable. The Student fails to provide an adequate synthesis of research collected for the paper. 10 out 20 points: References to scholarly sources are occasionally given; many statements seem unsubstantiated. Frequent errors in APA 6th Edition format, leaving the reader confused about the source of the information. There are significant errors of the formation in the references and citations. And/or there is a significant use of highly questionable sources. 15 out 20 points: Credible Scholarly sources are used effectively support claims and are, for the most part, clear and fairly represented. APA 6th Edition is used with only a few minor errors. There are minor errors in reference and/or citations. And/or there is some use of questionable sources. 20 points: Credible scholarly sources are used to give compelling evidence to support claims and are clearly and fairly represented. APA 6th Edition format is used accurately and consistently. The student uses above the maximum required references in the development of the assignment. Grammar (worth maximum of 20% of total points) Zero points: Student failed to submit the final paper. 5 points out of 20: The paper does not communicate ideas/points clearly due to inappropriate use of terminology and vague language; thoughts and sentences are disjointed or incomprehensible; organization lacking; and/or numerous grammatical, spelling/punctuation errors 10 points out 20: The paper is often unclear and difficult to follow due to some inappropriate terminology and/or vague language; ideas may be fragmented, wandering and/or repetitive; poor organization; and/or some grammatical, spelling, punctuation errors 15 points out of 20: The paper is mostly clear as a result of appropriate use of terminology and minimal vagueness; no tangents and no repetition; fairly good organization; almost perfect grammar, spelling, punctuation, and word usage. 20 points: The paper is clear, concise, and a pleasure to read as a result of appropriate and precise use of terminology; total coherence of thoughts and presentation and logical organization; and the essay is error free. Structure of the Paper (worth 10% of total points) Zero points: Student failed to submit the final paper. 3 points out of 10: Student needs to develop better formatting skills. The paper omits significant structural elements required for and APA 6th edition paper. Formatting of the paper has major flaws. The paper does not conform to APA 6th edition requirements whatsoever. 5 points out of 10: Appearance of final paper demonstrates the student’s limited ability to format the paper. There are significant errors in formatting and/or the total omission of major components of an APA 6th edition paper. They can include the omission of the cover page, abstract, and page numbers. Additionally the page has major formatting issues with spacing or paragraph formation. Font size might not conform to size requirements. The student also significantly writes too large or too short of and paper 7 points out of 10: Research paper presents an above-average use of formatting skills. The paper has slight errors within the paper. This can include small errors or omissions with the cover page, abstract, page number, and headers. There could be also slight formatting issues with the document spacing or the font Additionally the paper might slightly exceed or undershoot the specific number of required written pages for the assignment. 10 points: Student provides a high-caliber, formatted paper. This includes an APA 6th edition cover page, abstract, page number, headers and is double spaced in 12’ Times Roman Font. Additionally, the paper conforms to the specific number of required written pages and neither goes over or under the specified length of the paper. GET THIS PROJECT NOW BY CLICKING ON THIS LINK TO PLACE THE ORDER
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