Course Syllabus – Econ 20— 61620
IRVINE VALLEY COLLEGE

COURSE & INSTRUCTOR INFORMATION

Introductory Economics                        

Online Asynchronous Course                                      
Fall 2020                                                        
Instructor: Sierra Moussatche
email: smoussatche@ivc.edu (or use Canvas message)
Office Hours: By Sign Up or Appointment  

COURSE DESCRIPTION AND SLOs

Description

This course, designed for non-economics and non-business majors, provides a survey of both micro and macroeconomic principles and provides a foundation for ECON 1 and 2. Microeconomic areas of emphasis include scarcity, markets, supply and demand, industrial organization, and marginal analysis used for decision making by individuals and firms. Macroeconomic areas of emphasis include national income accounts, money and monetary policy, economic stabilization policies, economic growth, and international trade and finance. Credit may be earned in ECON 20 or 20H, but not both.

Student Learning Outcomes

SLO 1: Scarcity Define and explain the fundamental economic problem of scarcity and its consequences - choice, cost, and economizing.
SLO 2: Production Possibilities Frontier Use a production possibilities diagram to show and explain the concepts of limits, choice, cost, efficiency, and economic growth
SLO 3: Supply and Demand Construct a supply and demand model and use it to explain how prices are determined in markets.

Learning Objectives

Upon completion of this course, the student will be able to:
 
1. Define the economic problem of scarcity and explain how it relates to the concepts of choice and maximization. 
2. Read, interpret and analyze economic graphs. 
3. Use supply-and-demand model for price and quantity determination in a market system. 
4. Apply marginal analysis to the decision-making process of individuals and firms in both perfectly competitive and imperfectly competitive markets. 
5. Define, describe and evaluate the effects of fiscal policies on the economy using the aggregate demand/aggregate supply model. 
6. Examine the role of international trade based on the principle of comparative advantage on the domestic economy. 
7. Describe the process of money creation and the ways in which monetary policy affects the economy. 
8. Identify and measure the determinants of economic growth. 
9. Develop an awareness of economics as it relates to everyday life.

MATERIALS

Textbook

OpenStax, Principles of Economics 2e. OpenStax CNX. Jan 21, 2020
Available for free at: https://openstax.org/details/books/principles-economics-2e 

Learning Management System

This course uses Canvas. Students will find downloadable copies of the syllabus and lecture notes/outlines/slides on the course website. Readings, assignments, grades and announcements will also be posted on Canvas. It is recommended that students check Canvas at least twice per week.

Additional Online Resources

Lumen Learning: Students will find optional additional exercises, videos and readings which closely follow our text.There is no cost for this open educational resource. 

Marginal Revolution University: At www.mruniversity.com, students can find free instructional videos and followup questions which can supplement course content. Some videos may be used for instruction with PlayPosit activities. 

ASSIGNMENTS AND GRADING

Assessment Types

Discussions

Graded discussions will be assigned through Canvas to make sure students engage each other over the material. There will be approximately 1 discussion per week, and all required posts are due Thursdays at 11:59 PM. Associated rubrics will be used for grading and feedback. Student posts must be professional, meaningful and incorporate specific examples from the text or Learning Modules.

Quizzes

Weekly quizzes with multiple choice questions will be assigned through Canvas. Students have two attempts at each chapter quiz (the highest score is kept). Feedback and scores for quizzes will occur as soon as the quiz is submitted. Quizzes will be due Mondays at 11:59 AM (that is one minute before noon). 

Worksheet Assignments

Weekly Worksheets will be due Wednesdays at 11:59 PM. Worksheets will be graded and returned within 48 hours of the due date. Associated rubrics will be used for grading and feedback. The lowest two worksheet grades will be dropped.

Current Event Project

 Students will select a current event topic and a news article to analyze in a short paper. Students will be graded on their ability to follow project directions and articulate course knowledge. A due date for this project and a project rubric will be confirmed on Canvas after the midpoint of the semester. The project will also have opportunities for extra credit. Please expect feedback and scores within 7 days of the due date.

Tests

There will be three tests, each test is worth 100 points. Topics in this course are cumulative by nature, but exams will focus on material from each section of the course. Tests will be time limited to 80 minutes, given in Canvas, and contain a combination of multiple-choice, short-answer, and diagram questions. There are no makeup tests, missed tests will result in a 0 score. Tests will be given within a 12 hour window on scheduled Wednesdays (10 AM-10 PM). Students can expect feedback and scores within 7 days of the test date. 

Grading

Students will earn the letter grade that corresponds to their grade percentage across the weighted categories below. A midterm letter grade will be reported after Test 2. At the conclusion of the semester, final grades will be posted on Canvas for a minimum of 24 hours before official grade submission.  Grades will not be rounded.

Category Weights 

10% Discussions
15% Worksheet Assignments
15% Current Event Project
15% Quizzes
45% Exams

Letter Grades 

A ( >89.5%)
B (89.4% -79.5%)
C (79.4% -69.5%)
D (69.4% -59.5%)
F (<59.4%)

Late Policy

Late work will be accepted in all categories but Tests. Late work will incur a penalty of 5% per day, with a maximum penalty of 50%.

GENERAL NOTES AND POLICIES

Academic Dishonesty

Academic dishonesty in the form of cheating on an exam or plagiarizing the written work of others is considered a very serious offense and will not be tolerated in this course. If a student is caught cheating on any test or assignment, he or she will receive a grade of zero on that test or assignment and an Academic Dishonesty Report will be filed with the Dean’s office to be retained on record. It is very important to avoid putting yourself in the position of even being suspected of cheating or plagiarism (i.e., using another’s words as your own written words), as very serious consequences may result.

Academic Assistance

You are encouraged to use resources from the Student Success Center that are available online. The tutoring services are free and available from Smarthinking once the student enrolls in TU301 (FREE).

Accommodations

Irvine Valley College makes reasonable accommodations for qualified students with documented disabilities. If you have a disability that qualifies under the Americans with Disabilities Act (ADA), impacts your work for this class, and necessitates accommodations, you should contact Disabled Students Programs and Services (DSPS) at 949-451-5630 for information on appropriate policies and procedures. Disabilities covered by ADA may include learning, psychiatric, physical disabilities, or chronic health disorders, among others. Students can contact DSPS if they are uncertain whether a medical condition/disability qualifies, or if they feel they may have a learning disability.

Communication

All students, faculty and staff of Irvine Valley College are provided with an email address that can be accessed through MySite. Please note that this is the only email address the instructor is permitted to use to contact students and discuss student work.  It is therefore important that students use this email (or the Canvas messaging system) to contact the professor as well as check this email on a regular basis.

• Emails will usually be returned within 24 hours. If there is no response within 36 hours, kindly resend the email.
• Don’t wait to communicate! The sooner you let me know about a problem, the better I will be able to assist you.

 

Class Tips

• Ask clarifying questions via email
• Do all assigned readings
• Practice worksheet questions
• Practice end of chapter questions
• Schedule office hours
• Be respectful of fellow students
• Make a new friend in class, then study with your buddy
• Spend upwards of 9 hours studying each week 
• Watch MRuniversity.com videos to help with material
• Use Lumen Learning (https://courses.lumenlearning.com/wmopen-microeconomics/ (Links to an external site.)) to apply your knowledge.

 Conduct

• It can be difficult to convey tone and intent in an online setting. Do your best to be respectful and understanding in your communications and class interactions.

Unacceptable conduct includes but is not limited to:

• Intimidation, harassment, and/or disrespect in behavior or speech (including profane or obscene language)
• Refusal to comply with instructor’s direction

Respect for Diversity

It is my intent that students from all diverse backgrounds and perspectives be well served by this course, that students' learning needs be addressed both in and out of class, and that the diversity that students bring to this class be viewed as a resource, strength and benefit. It is my intent to present materials and activities that are respectful of diversity: gender, sexuality, disability, age, socioeconomic status, ethnicity, race, and culture. Your suggestions are encouraged and appreciated. Please let me know ways to improve the effectiveness of the course for you personally or for other students or student groups. In addition, if any of our class requirements conflict with your religious events, please let me know so that we can make arrangements for you.

Time Zones and Scheduling

This course is online and will not hold required live lectures or meetings, though optional live meetings or office hours will be made available. Listed due dates are given in Pacific Time (PT) and any communications of times and dates will be assumed to be in PT unless otherwise specified. Students will be required to keep pace with the course (e.g. recordings and assignments for Chapter 5 will not become available until week 4) but are welcome to read ahead if they would like.

COURSE OUTLINE*

Week	Monday's Date	Weekly Topics Part 1	Weekly Topics Part 2
1	8/17	Welcome to Economics! OS Ch.1	Scarcity OS Ch.2
2	8/24	Supply and Demand OS Ch.3
3	8/31	Labor and Financial Markets OS Ch. 4
4	9/7	Elasticity OS Ch.5
5	9/14	Review	Test 1 9/16 (Ch 1-5)
6	9/21	Consumer Choices OS Ch. 6
7	9/28	Production OS Ch.7
8	10/5	Perfect Competition OS Ch. 8	Monopoly OS Ch. 9, (Chapter 11 has been removed from the schedule)
9	10/12	Game Theory, and Public Goods OS Ch. 10.2, 13.3	Externalities OS Ch. 12 and 13
10	10/19	Review	Test 2 10/21 (Ch. 6-13)
11	10/26	GDP and Economic Growth OS Ch. 19 and 20
12	11/2	Unemployment OS Ch. 21	Inflation OS Ch. 22
13	11/9	Aggregate Demand and Supply OS Ch. 24
14	11/16	Money and Banking OS Ch. 27	Monetary Policy OS Ch. 28
15	11/23	Government Budget and Fiscal Policy OS Ch. 30
16	11/30	International Trade OS Ch. 23, 29, 33
17	12/7	International Trade OS Ch. 34
18	12/14	Review	Test 3 12/16 (selections from Ch. 19-34)

*Schedule remains subject to change at the discretion of the instructor. For detailed assignment due dates, please see course calendar on Canvas or the Course Summary following this syllabus.

 

Important Dates

First Week of Class Begins: Monday, 8/17/2020 
First Class Meeting On: Monday, 8/17/2020 
Add without Instructor Permission by: Sunday, 8/16/2020 
Drop with Refund by: Sunday, 8/30/2020 
Last Day to Add with APC*: Monday, 9/7/2020
Drop without "W" Grade by: Monday, 9/7/2020 
Elect Pass/No Pass by: Monday, 9/21/2020
Drop with "W" Grade by: Friday, 10/30/2020 
Last Week of Class Ends: Wednesday, 12/16/2020 

 

It is the student’s responsibility to drop the course before September 7^th without a W, and before October 30^th with a W.  Any student that does not drop the class and does not complete the work will receive an F.  The instructor will not drop any student except for students who do not complete required assignments in the first week of the course and have not contacted the instructor.