Bonitsis, T. Homer

English

Digital Commons @ New Jersey Institute of Technology (NJIT)

New Jersey Institute of TechnologyDigital Commons @ NJITSchool of Management Syllabi NJIT SyllabiFall 2019ECON 201-451: EconomicsT. Homer BonitsisFollow this and additional works at: https://digitalcommons.njit.edu/mtsm-syllabiThis Syllabus is brought to you for free and open access by the NJIT Syllabi at Digital Commons @ NJIT. It has been accepted for inclusion in Schoolof Management Syllabi by an authorized administrator of Digital Commons @ NJIT. For more information, please contact digitalcommons@njit.edu.Recommended CitationBonitsis, T. Homer, "ECON 201-451: Economics" (2019). School of Management Syllabi. 6.https://digitalcommons.njit.edu/mtsm-syllabi/6 Martin Tuchman School of Management New Jersey Institute of Technology  ECON 201-451        Instructor: Dr. T. Homer Bonitsis DL Section/Fall 2019       Office: Central Ave Bldg/4024 Office hours:  Online daily and     Office tel. no.: (973) 596–3263      Friday: 8:00 a.m.-1:00 p.m.      E-mail: bonitsis@njit.edu      Other days: By appointment. ____________________________________________________________________________________  Course Objective This course is a survey of the fundamental principles of economics.  First the methodology of economic inquiry will be presented.  Then the course is divided into two major parts: microeconomics, the theory of how prices are determined under various market structures; and macroeconomics, the theory of national income determination.  A student that successfully completes this course will have a panoramic understanding of the basic tenets of economics.  Some of the topics to be studied under microeconomics are market demand and supply, price elasticity of demand, the theory of cost, perfect competition, monopoly, monopolistic competition and oligopoly.  Some topics covered under macroeconomics are gross domestic product, the business cycle, inflation, aggregate demand and supply, the monetary system, and monetary and fiscal policy. The course ends with a discussion of international trade and finance.  Distance Learning This is a distance learning (DL) course.  This means that the course is taught using extensive online didactical technologies, so one must feel very comfortable using virtual interfaces.  Most importantly, DL requires a student to take the initiative to do independent studying: it is not for everyone. Are you prepared to take a DL course?   If one does not feel comfortable with DL modalities, then one should consider taking this course in a traditional classroom setting.  You are required to have reviewed and studied the assigned reading material each week.  The anticipated reading assignments are listed on the next page: the pace of the course may differ, so do not feel overwhelmed by the reading list.  All exams are online using remote webcam monitoring with ProctorU and/or a locked-down browser.  The exams are closed book exams:  the only source of information you may use during an exam is your intellect.  Required Background for Economics A student should be competent in basic algebra: one should be able to construct and read graphs and know the algebra of linear relationships.  Appendix 1, Using Graphs and Formulas, in the textbook should provide sufficient review of this topic.  Text and Other Material Essentials of Economics, with MyEconLab, sixth edition, by R. Glenn Hubbard and Anthony Patrick O’Brien, Pearson Prentice-Hall, Inc., 2019.  The ISBN for the electronic package is 9780134798028.  This bundles a copy of the e-book and the course’s online virtual classroom, MyEconLab.  A loose leaf copy of the textbook may be purchased for a nominal amount.  Please review the welcome letter sent prior to the start of the semester for further details on the required course material. There is extensive course content, lecture notes, PowerPoint slides and other supplemental material, on the homepage for this course on MyEconLab; it is each student’s responsibility to timely review this material.  Homework assignments are posted on MyEconLab, all assignments must be done by their due date.   ____________________________________________________________________________________           (Continued on next page.) © THB 2019  ___________________________________________________________________________________________  Topic Week                   Chapter Introduction to Economic Methodology  I Economics: Foundations and Models       ch. 1  Using Graphs and Formulas        ch. 1A  Trade-offs, Comparative Advantage and the Market System    ch. 2  Microeconomics  II Where Prices Come From: The Interaction of Demand and Supply   ch. 3 III Market Efficiency and Market Failure       ch. 4  The Economics of Healthcare        ch. 5 IV Firms, the Stock Market, and Corporate Governance     ch. 6  Consumer Choice and Elasticity        ch. 7 V Technology, Production, and Cost       ch. 8 VI Firms in Perfectly Competitive Markets       ch. 9 VII Monopoly and Antitrust Policy        ch. 10  Monopolistic Competition and Oligopoly/Exam I     ch. 11  Macroeconomics  VIII GDP: Measuring Total Production and Income      ch. 12 IX Unemployment and Inflation        ch. 13 X Economic Growth, the Financial System, and Business Cycles    ch. 14 XI Aggregate Demand and Aggregate Supply Analysis     ch. 15  Macroeconomic Schools of Thought       ch. 15A  Monetary and Fiscal Policy  XII Money, Banks, and the Federal Reserve System      ch. 16 XIII Monetary Policy         ch. 17 XIV Fiscal Policy          ch. 18 The International Economy  XV Comparative Advantage, International Trade, and Exchange Rates   ch. 19  Exam II ___________________________________________________________________________________________  A student's academic responsibilities and grade for this course are as follows:  All students are to abide by the University Code on Academic Integrity.  Students who plagiarize and/or cheat will be sent to the Dean of Students for appropriate action.  The policy on academic integrity may be reviewed at:  http://www5.njit.edu/policies/sites/policies/files/academic-integrity-code.pdf.   Semester grade: Exam I, 40%; Exam II, 40%; Homework, 20%.  Exams are online using remote webcam monitoring with ProctorU and/or a locked-down browser; the exams are closed-book open-mind exams.  The only source of information you may use during an exam is your intellect.  Exam questions may have the following form: multiple choice, true/false, definitions, or problems.  Exams will test your theoretical and applied knowledge of economics, simple memorization of the course material will not help one to perform well.  There will be no make-up exams or homework assignments; it is the responsibility of each student to timely do one’s work.  All homework assignments are to be done by each student individually and on time using MyEconLab.  It is advisable for students to network, so that they may discuss course content as well as contact a colleague if they do not attend a workshop; being absent is not a valid reason for not doing required course assignments. ___________________________________________________________________________________________ 

ECON 201-451: Economics

https://digitalcommons.njit.edu/cgi/viewcontent.cgi?article=1005&amp;context=mtsm-syllabi

ECON 201-451: Economics

Abstract

Similar works

Full text

Available Versions

Digital Commons @ New Jersey Institute of Technology (NJIT)