Principles of Microeconomics

EC 201 with Professor Strenio at Southern Oregon University

Hi there! I'm Professor Strenio and I will be your instructor for Principles of Microeconomics. I bet you have a lot of questions. Take a look through this site to see what the course has in store for you.

Welcome to EC 201 Principles of Microeconomics!

This term, I'm teaching two Principles of Microeconomics courses, one remote with synchronous Zoom sessions (CRN 1001) and one online with asynchronous content and assignments (CRN 1002).

Double check the CRN of your course to verify which one you signed up for and make sure the class structure is the best for you! Then, read through this page to find general information on Principles of Microeconomics. Find details on the different course structures by clicking the dropdown menu bar lower on the page.

📍Start here! About the course.

Course Description

How do we get our dinner every night? That is the primary question economists study. Although it sounds straightforward, it involves exploring the process of social provisioning—that is: how do we determine what to produce? and how much? and finally, how do we distribute it?

This course will examine these questions from the individual and firm perspective and provide an introduction to the way markets work, and fail to work, in these provisioning processes. Throughout the term we will also hone our critical thinking and mathematical skills by applying economic theories and principles to current events and data sets, for as John Maynard Keynes wrote, economists “must understand symbols and speak in words." (Keynes, J.M. (1924). Alfred Marshall, 1842-1924 The Economic Journal 34 (135), 311-372)

A woman looking into a store window with sale signs.

Course Outcomes

At the end of this course, you will be able to:

discuss major microeconomic principles, theories, and applications
explain how a market economy works, what it aims to achieve, and how it can fail
apply economic principles, tools, and logic to discuss and examine real world examples drawnfrom current events, journal articles, and data sets
apply your critical thinking skills to economic analysis, including interpreting data and models
meet the University Studies Goals and Proficiences for Strand F: Social Science

details on the University Studies Goals and Proficiencies for Strand F: Social Science are available here:

They include the ability to:

- Understand connections between individuals and social, economic, and/or political institutions. Proficiencies: Students will be able to:
  - identify impact of social, economic, and/or political institutions on individuals.
  - analyze social, economic, and/or political institutions, using discipline-based con-texts or approaches.
- Understand the interactions of and the relationships between natural and social environments and resources. Proficiencies: Students will be able to:
  - analyze reciprocal influences among political, economic, and/or social developments.
  - identify and evaluate the impact of one’s own actions in a societal context.
- Apply social science perspectives to past and contemporary issues. Proficiencies: Students will be able to:
  - analyze and evaluate past episodes using discipline-based methodologies.
  - analyze and evaluate contemporary issues and problems from social, economic, and/or political perspectives

🧱 Course structure

CRN 1001: Remote with synchronous Zoom

This course is designed for remote delivery with synchronous class components. Synchronous learning is remote learning that is happening in real time. That means we will meet over Zoom once a week for about an hour on Thursdays at 10:30 am. The rest of the course material and activities will be completed remotely and asynchronously, meaning that you can do your work at different times as long as it is completed by the weekly deadlines.

I’d recommend finding a rhythm for this course. My suggestion is to login to Moodle at the beginning of the week and start working through the assigned readings and mini lecture videos. Then, complete the quick quiz (immediate grade-boosting gratification with multiple-choice questions based on the lesson) before the live class session to show that you are prepared to participate. By the end of the week (Sunday nights) you’ll apply your new knowledge to complete your Sapling homework. Sapling is a platform that allows for low-stakes practice of the new concepts.

CRN 1002: Online and asynchronous

This course is designed for online delivery with asynchronous learning components. Asynchronous learning means that you can do your work at different times as long as it is completed by the weekly deadlines.

I’d recommend finding a rhythm for this course. My suggestion is to login to Moodle at the beginning of the week and start working through the assigned readings. Then, complete the quick quiz (immediate grade-boosting gratification with multiple-choice questions based on the readings) before moving on to watch the mini lecture videos. By the end of the week (Friday nights), you’ll complete your initial discussion forum post that will give you the opportunity to apply your new economic knowledge to your own lives and then discuss with your classmates by posting a response by Sunday night. You’ll also need to complete your Sapling homework by Sunday night. Sapling is a homework software that allows for low-stakes practice of the new concepts.

Although this course site is hosted on Google Sites, our main course page will be our class Moodle page. You'll find more detailed information on our assignments, as well as links to submit those assignments, complete discussions, and check out your grades and feedback there. Please make sure to check our Moodle page often and sign up for notifications (link to directions in the Learning Pact below!)

📚 Materials

Required textbook

A picture of a hardcopy of our class textbook "The Economy" and a chapter from the ebook on a computer screen and a phone screen.

The Economy: Economics for a Changing World by The CORE Team (2017).

Free ebook access here or purchase a hard copy online.

Required homework software

Sapling Learning. Purchase and access the required homework assignments here or via the link in Moodle.

Supplemental

Other course material will come from a variety of sources, including, but not limited to: peer-reviewed journals, newspaper articles, and podcasts. All of these resources will be posted on Moodle.

Assignments and Grading

There are 500 points in this class, distributed among the following categories:

Quick Quizzes (24 points)
Sapling HW (112 points)
Micro in Minutes lesson (50 points)
Discussions (144 points)
Midterm exam (70 points)
Final exam (100 points)

Learning Pact:

The following are the expectations I have for myself, as your instructor, and for you, as a student.

You can expect me to:

Be willing to work with you to accommodate unusual circumstances that may come up due to the pandemic.
Use Moodle, Zoom, and Sapling Learning to enhance student learning, communication, and convenience. I am committed to respecting your privacy and safety and promoting equity in our online classrooms. You will always have the choice of whether or not to turn on your video. You can also use virtual or blurred backgrounds if you prefer.
Be readily available to meet with you via Zoom or email at a time that works for both of us.
Reply to emails/Moodle messages within 24 hours during the week.
Grade and provide feedback on assignments within one week of the date they are submitted.
Complete all grades and provide students with feedback on final grades within one week of the date the last course assignment is submitted.
Is there anything else you would like to add to this list?

I expect you to:

Become familiar with Sapling Learning and Moodle. I highly recommend you check your email and Moodle frequently and turn on notifications. Directions for turning on notifications are available here.
Strive to be an active participant in this course, which includes participating in small group discussions.
Plan on submitting work on time. Every assignment has a due date, but you can always submit work early as well. This helps me provide you with important feedback. It also helps keep you on track so you don't fall behind. Time management is an important skill that you need to be successful in most jobs today--start practicing now! However, I understand that things come up and I'm on your side. I want you to succeed. Late submissions will be accepted with a 10% penalty per day late. Don't want the penalty? Email me as soon as possible and propose a fair solution. We'll work it out.
Contact me if you have a concern or emergency that prevents you from attending class, submitting an assignment or completing the course.
Communicate with me. Ask questions if any expectations or assignments are unclear.
Treat me and your peers with dignity and respect.
Follow appropriate netiquette and virtual communication guidelines.
Engage in professional email conduct. This entails including a proper greeting and address(i.e. ”Hi Professor Strenio”), a proper closing, and complete, comprehensible sentences.
Is there anything else you would like to add to this list?