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ECON 2010-U61-Fall-2010 - Utah Valley University Woodbury...

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1 Utah Valley University Woodbury School of Business Fall 2010 Microeconomics ECON 2010.U61 CRN 16863 3 credit hours Prerequisite: MATH 1050 NG 167; Tuesday 6:00-8:30pm Instructor: Dr. Maritza Sotomayor, Woodbury School of Business Email: [email protected] Office: WB 248 Phone: (801) 863-6502 Office hours: Tuesday 9:45-11:25am; 2:30-5:30pm and Thursday 9:45-11:25am Course Material Required textbook McConnell, C., Brue, S. and Flynn, S. Microeconomics , 18 th Edition, McGraw Hill, 2009, 486 pages. Textbook Study Guide, optional. Reading list (optional): Parkin, M., Economics , 8 th edition, Addison Wesley - Pearson; 2007, 798 pages; Parkin, M., Microeconomics ; 8 th edition, Prentice Hall, 2007, 552 pages. Course description: Designed for business management transfer students and as elective credit for other business students desiring economic decision-making skills. Covers intermediate microeconomics. Uses lecture, class discussion, videos and computer simulation. Completers should be ready to take university upper-level economics courses and to make upper-level management decisions. Course objectives: This introductory course in microeconomics familiarizes students with the economic way of thinking, economic concepts, and economic decision making. This enables students to understand economic theories that seek to predict and explain economic behavior. After completing the course, students should be able to understand: why economic questions arise from scarcity (limited resources); how prices are determined and why they change; the meaning of demand and supply elasticities and the relationship between elasticity and total revenue; the effects of price controls and taxes on goods and services traded and consumed; factors determining costs and the nature of costs; and how firms, under different market conditions, make price and output decisions. At the end of this course graduates will be able to utilize appropriate procedures, frameworks, models, and experience to gain knowledge, solve problems, and make appropriate decisions
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