ECN 221 S14 Syllabus

Slo2 students will learn how to identify and measure

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Unformatted text preview: igopoly. SLO2: Students will learn how to identify and measure alternative categories of benefits and costs and demonstrate how such values affect economic decisions. Students will learn how to use consumer and producer price and quantity data to critically analyze the effects of changes in exogenous factors on market outcomes. Students will also learn to use market data to calculate elasticity measures in order to describe consumer and producer responses to changes in price. The predicted results of economic models - specifically the competitive and imperfectly competitive market models - will be tested against real world data. SLO3: Students will demonstrate the ability to critically analyze economic arguments using microeconomic modeling. Students will analyze the impact of exogenous economic changes and price policies in the context of these models. Students will compare model predictions about the efficiency and equity of resource allocation under different market structures against real world data. SLO4: Students will articulate how international trade can lead to more efficient and desirable quantity and price outcomes for society. Students will be able to convey both the intent and the result of price control policies such as price ceilings and price floors. Students will articulate the alternative merits and inherent tradeoff between efficient and equitable market outcomes. Students will also be able to articulate social efficiency outcomes related to various levels of competition and how public policy can assist or impede such competition. COURSE POLICIES GRADING: Your grade in this course will be based on performance on two exams, three short quizzes, attendance, and a comprehensive final. The plus/minus system will be implemented on final grades where appropriate. The weights assigned to each component of your grade are as follows: - 2 mid-semester exams = 44% of final grade (22% each) - Attendance = 10% of final grade - 3 quizzes = 21% of final grade (7% each) - Final exam = 25% of final grade EXAMS: The two mid-semester exams will likely be mostly multiple choice with a few short answer questions (true/false or fill-in-the-blank). Each exam will test your knowledge of material covered since the previous exam, so the exams are not explicitly comprehensive. However, nearly all of the material in this class builds on previously attained knowledge. You will find that you will be using information from the first part of the semester throughout the...
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