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MSJC > Dan Pynn > Micro Economics 202

Micro Economics 202


By: ARNOLD 11th Edition

The Communist Manifesto
By: Karl Marx

This course will study the theory and operation of the interaction of consumers, business, and industry choices in a market economy and how government intervention attempts to achieve domestic and international economic goals using regulation and deregulation policies.  Emphasis is placed on the optimizing behavior of individual firms and consumers (micro-analysis) of the economy with concentration in such area as supply and demand; elasticity; consumer choice; production and costs; market structures; antitrust and regulation; factor markets; wages and labor unions; income and poverty, market failure; public choices; and the stocks and bonds market.
Upon the completion of this course, Learners will be able to demonstrate the following:
  1. Explain the basic principles of economic analysis, economics as a social science, and why we study economics.
  2. Evaluate and interpret sources of quantitative information using graphical and numerical data for supply and demand conditions, profit-maximizing output levels, and production and cost conditions of the firm
  3. Compute, identify, utilize, and interpret various concepts of elasticity and predict the cause and effect relationships upon revenues and the quantities supplied and demanded
  4. Compute, identify, utilize, and interpret marginal utility and total utility and how these economic concepts determine price, quantity demanded, and consumer choice. 
  5. Compare and contrast economic arguments and policymaking strategies for a variety of public policies. For example, deregulation, regulation, antitrust legislation, agriculture subsidies, and rent control policies
  6. Compare and contrast the methods used to analyze a variety of market structures ranging from perfect competition to monopoly, the means available to achieve them, and the process by which they are pursued. Students will be able to evaluate and judge how various market structures determine price, output, and profits both in the short-run and long run
  7. Compare and contrast the methods used to analyze how labor unions influence the wage-employment tradeoff, affect wages and prices, and try to affect the demand for and supply of union labor
  8. Explain the basic concepts of income inequality, various normative standards of income distribution, and identify the difference between absolute and relative poverty
  9. Explain the economic purpose stocks and bonds serve and the financial information stocks, bonds, futures, and options provides to financial markets
  10. Explain the basic ideas of pubic choice theory and its application on public-sector decision making
  11. Evaluate and contrast the primary components of market failure
The listed course objectives cover a broad scope of economic knowledge and skills which a Learner is expected to gain from the course. Achievement of these course objectives will be accomplished through ______________________________________________________. Whereas, course learning outcomes (CLOs) specify mastery of essential economic knowledge and skills.
Fill-in the blank with course assessment activities that you use to accomplish the course objectives. For example, in-class activities, problem based learning scenarios, problem sets, videos, quizzes, course assignments, exams, etc.   
Course learning outcomes (CLOs) cover specific economic knowledge and skills which a Learner is expected to master. Learners will be assessed periodically for specific mastery of essential economic knowledge and competency.
  1. Chapters 1 thru 3 and 20 thru 22, then the mid-term  
  2. Chapters 23 thru 29, then the final exam

*there will be review notes for each chapter, these should be used for course review.

Chapter Question Sets​ 25%​
Mid-term Exam 25%
Final Exam 25%
Term Paper 10%
Stock Project 10%
Karl Marx Book Report 5%
90% to 100% A
80% to 90% B
70% to 80% C
60% to 70% D
59% and below F

You are expected to attend all class meetings and be on time for class. If you need to drop this course, it is your responsibility to do so. Failure to officially drop this class, will result in receiving a undesirable grade. You may pick up and submit a drop form from admissions and records.

If you registered late, it is your responsibility to officially add the course by submitting an add / reinstate form to the admissions and records office. Failure to submit the proper form may result in no grade or credit for the course. Please check to see if your name is on the permanent roster by the fourth week.


Any student who plagiarizes material, or who is otherwise found to be cheating, will have all such material assigned zero points, and will be referred to the Dean for administrative action.


All late assignments must be turned in by the date assigned in class, unless you make special arrangements with me. Please note: if you turn in assignments outside of the normal class time, it is your responsibility to get the paper to me.


Mt. San Jacinto College abides by the Americans with Disabilities Act and Section 504 of the Rehabilitation Act of 1973 that prohibits federal and state agencies or programs from discriminating against qualified  individuals with disabilities.  Students in this course who have a documented disability that limits a major life activity which may have some impact on your work in this class and for which you may require accommodations should meet with a counselor in Disabled Student Services and Programs (DSP&S) as soon as possible.