Illinois Valley Community College
Economics
Course Number and Title: ECN 1202 Fundamentals of Economics
Session: Winter Semester 2008
Instructor: David Gordon (B323)
Phone Number: (815) 224 - 0393 (email David_Gordon@ivcc.edu)
Office Hours: Mon. 11:00 A.M. – 1:00 P.M.
Tues. 1:45 P.M. – 2:30 P.M.
Wed. 11:00 A.M. - 1:00 P.M.
Thurs. 1:45 P.M. – 2:30 P.M.
Fri. 11:00 A.M. – 1:00 P.M.
Credit Hours: Three
Prerequisites: None.
Textbook: Essentials of Economics by Hubbard and O'Brien, Prentice Hall, 1st ed.
Periodicals: Wall Street Journal (Optional)
Barrons (Optional)
Rationale:
The main goal of the course is to introduce the student to the fundamentals of economics, including the tools and models used by economists to study various microeconomic problems. Students need to see how prices are thought to be determined, including their own labor services. The workings of the macroeconomy will be also be explored in detail.
Course Objectives:
Upon completion of the course the student should have a firm grasp of the following topics:
1) The language of economics.
2) Thorough knowledge of forces that affect supply and demand.
3) Market equilibrium and disequilibrium.
4) Demand elasticity.
5) Price ceilings and floors.
6) Economic methodology.
7) Reasons for international trade.
8) The role of the firm.
9) Economic costs.
10) Theory of perfect competition.
11) Theory of monopoly.
12) Measurements of the macroeconomy.
13) Economic growth.
14) Money and monetary policy.
15) Fiscal policy.
Course Evaluation Information:
Evaluation:
Exam #1 15%
Exam #2 15%
Exam #3 15%
Exam #4 15%
WSJ project 20%
Assignments/Quizzes 20%
and attendance
Make-up exams will be given only in cases of documented
illnesses or qualifying emergencies.
Homework assignments:
Homework assignments will consist of problems in your textbook and supplemental problems given in the form of handouts.
Wall Street Journal Project:
You will be required to read the Wall Street Journal and produce an economic report on a predetermined industry and the companies within that industry. The report will be presented in class in the form of a Powerpoint presentation. More information will be given on this project within the first week of class. (Depending on class size this might be a group or individual project.)
Exams:
Exams will consists predominately of problems and other objective questions. The dates of the exams will be announced at least two weeks ahead of time.
Grades:
An average of 90% or above on all coursework guarantees an “A”, an average of 80% - 89% guarantees a “B”, etc.
Attendance:
I will formally take attendance. Attendance is STRONGLY encouraged for two main reasons: firstly, my exams closely parallel the topics emphasized in my lectures, secondly, part of your final grade will be based on your attendance.
Withdrawal Procedure:
If you wish to withdraw from the class you must notify me in person. The withdrawal deadline is listed in the school catalog.
Tentative Schedule of Exam Material:
Week #1: Chapter 1 (Intro.)
#2: Chapter 2 ( Production Possibilities)
#3: Chapter 3 (Supply and Demand)
#4: Chapter 3 continued. EXAM #1.
#5: Chapter 4 (Markets)
#6: Chapter 5 (Elasticity)
#7: Chapter 6 (Costs)
#8: Chapter 6 continued. EXAM #2.
#9: Chapter 7 (Perfect Comp.)
#10: Chapter 8 (Monopoly)
#11: Chapter 11 (GDP)
#12: Chapter 11 cont. EXAM #3.
#13: Chapter 12 (Business Cycles)
#14: Chapter 13 (Inflation)
#15: Chapter 14 (Aggregate Supply and Demand)
#16: Chapter 15 (Fiscal Policy)
#17: EXAM #4
If you are a student with a cognitive, physical or psychiatric disability you may be eligible for academic support services such as extended test time, texts on tape, note taking services,
etc.... If you are interested in receiving academic support services, please contact the Special
Populations Office at 224-0284, office B-204.