Indiana University East

School of Business and Economics

Spring 2017

Syllabus
Course: ECON-E103 Introduction to Microeconomics Location: Online
Section: 20502 Time: At your convenience

Instructor: Litao Zhong, Ph.D.

Office: Hayes Hall 255-V
Phone: 765-973-8289
Email: litzhong@iue.edu

Online Office Hours: Monday and Wednesday, 1:00 pm-1:45 pm (EST), or by

appointment, @ https://connect.iu.edu/econ103/
Campus Office Hours: Monday and Tuesday, 11:00 am 2:00 pm (Eastern Time)
Or by appointment

This Course is completely offered online. Please use Canvas (http://canvas.iu.edu) to

access the course materials. The best way to contact the instructor is by email. Please
email me via Canvas Inbox only. I will try to reply your email within 24 hours during the
week. Please allow additional time on weekends and holidays.

Required Materials:

Textbook: Glenn Hubbard and Anthony OBrien, Microeconomics with MyEconLab

access, Sixth Edition by Pearson Publishing. (We use e-Text in this course!!)

(You have paid the e-Text fee in your tuition. Please see the handout in Canvas to get
MyEconLab access code. The e-Text is accessible on MyEconLab!!!)

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 There is a reserve copy at the IU East library for one-day checkout. If you have any
question about the book, please dont be bashful to ask me!

Recommended Materials:

Additionally, students should strive to keep up with current events by reading such
publications as the Wall Street Journal (WSJ), Barrons, Fortune, Forbes or Business
week, etc. (Student rate subscription available to WSJ and Barrons.)

I strongly recommend everyone to subscribe WSJ. This is the #1 reading materials in the
business world. I will frequent quote articles from WSJ during the whole semester.
Though there is no assignment straightly ties to articles from WSJ, I still recommend you
to get a copy of it. Right now WSJ is offering a special limited-time student rate. You can
get a 15-week subscription with only $15 ($1 per week) for full digital access plus six-
day print delivery.

You can get more information and subscribe online from the following link:
www.wsj.com/studentoffer

When you subscribe the Journal, please make sure to put my name, Litao Zhong, as the
referring professor.

Required Software Packages:

You will need Adobe Reader to view the .pdf files and Microsoft Office 2010 (or later)
programs including Powerpoint, Word and Excel to view the chapter outline, in the form
of Powerpoints, and prepare your work for this course. At times, you will be required to
watch videos, so high speed Internet may also be helpful. If you do not have high speed
Internet, you might want to visit a public location, like a school or library, to watch those
videos.

To upload your work to Canvas, you need to have anti-virus protection on your
computer. Registered students have access to a number of free software programs
through the IUWare (http://iuware.iu.edu) and IUAnyWare (https://iuanyware.iu.edu)
websites.

Course Description:

This is a course about the fundamental ideas and theories in Microeconomics. It provides
a useful means of analyzing the behavior of consumers, businesses and governments so
that students can better understand many of the problems facing the contemporary society.
This class will explore the role of businesses, consumers, and the governments and their
effects on process, output and income distribution. Throughout the entire semester, we

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will mainly focus on the discussion of basic concepts and applications of the tool to
cost-benefit analysis, and to see how close the theory is to the real world markets.

Campus Learning Outcome:

This course aims to achieve the following IU East campus learning outcomes:

3. Apply principles of inquiry to define and analyze complex problems through

reasoning and discovery

Reasoning, inquiry, discovery, and creativity are the processes by which individuals
utilize resources and methods to understand and answer complex problems, and to form
and revise beliefs. University educated individuals raise important questions and
formulate them in a comprehensible way, developing and defending their conclusions
based upon reliable evidence. These individuals demonstrate understanding of the ethical
standards of doing their work and communicating the results and findings.

5. Demonstrate a deep understanding of a field of study

Specialists in a field of study have sufficient knowledge to apply the basic principles of
the discipline in their work environment, or for subsequent learning experiences.
University educated individuals demonstrate knowledge of the ethical standards in their
field of study.

Course Objective:
We will cover the following topics:

1. Define economics, and explain the distinction between micro economics and
macro economics.
2. Explain the concept of opportunity cost.
3. Explain the marginal approach to economic decision making. Solve economic
problems using the marginal approach.
4. Define free market capitalism, and explain its characteristics.
5. Define supply and demand. Explain how supply and demand determines prices in
a market. Develop and use graphs in the explanation.
6. Define and explain elasticity.
7. Explain utility theory. Discuss how utility theory can be used to explain consumer
choices.
8. Explain production-and-cost theory. Develop and use graphs in the explanation.
9. Define market structure. Discuss the different types of market structure. Evaluate
market structures on their efficiency and allocation of resources. Develop and use
graphs in the discussion.
10. Discuss effects of governmental intervention to market.
11. Explain the outcome of market inefficiency.

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Course Outline:
This course is offered completely online using IU Canvas and MyEconLab, and no
mandatory class meeting will be required. Therefore, you need to visit the course
homepage on IU Canvas regularly each week. You must check out the course materials,
follow the course guidelines, read the course announcements and check the email
messages on IU Canvas. To pass this course, it is your responsibility to follow the course
guidelines, study chapters, and do the weekly assignments and complete exams.

There will be twenty six weekly exercises (two exercises per week), two exams, ten
discussions, and one term paper during the whole semester.

Weekly Exercises:
Each week, you need to go to MyEconLab to complete one homework assignment and
one quiz online by the due dates and times. Each homework assignment and quiz
primarily covers the weekly materials. Homework and quiz questions are in the form of
multiple choice, fill-out-the-blank, and graphing questions. There has no time restriction
on homework assignments, but has 90 minutes on every quiz. You have 2 attempts on
each homework, but only one attempt on each quiz. Homework is re-workable and I
only record the latest score! You can refer to the course schedule at the end of this
syllabus to study chapters in each week. Each homework is worth 30 points and each quiz
is worth 15 points. You are required to complete and submit all exercises by deadlines.
The weekly assignments are ALWASYS due on each Sunday at 11:59 pm (EST).

All assignments will be available at the beginning of the semester. You can work on your
own pace!

Please be aware that all assignments are scheduled in Eastern Time.

If you miss any exercise, your grade will be recorded as zero. No make-up exercise will
be allowed!

Exams:

There are two exams: one midterm and one final. You will take them on MyEconLab as
well. The exam questions will be set at the same difficulty level as the weekly
assignments. For sure you will see many overlapped questions from homework and
quizzes in exams. Please retain and study the finished homework and quizzes before
exams. Exams will also be in form of multiple choice questions. I will provide more
details on exams when we approach them. Each exam accounts 100 points. The final
exam is NOT comprehensive.

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If you are unable to take an exam by the deadline, you will need to contact me immediately
(prior to the deadline). The make-up exams will be considered only under some very
unusual circumstances.

For the unexpected technical problems during the progress of weekly exercises or exams,
please contact me via phone or email immediately.

Discussions:

Besides doing weekly exercises and exams, the students are also asked to respond 10
discussion topics during the whole semester. You shall answer discussion topics in
Canvas (Under the tool of Discussions). There is no right or wrong answer on these
discussion topics. I just want you to share your opinion and thoughts on these topics to
the whole class. Besides contributing your own opinion, you are REQUIRED to respond
to AT LEAST one of your peers posts. Your response to your peers should be
constructive and meaningful. Responses, such as Nice post, Great work, Thank you
for sharing your story, are NOT acceptable. Each discussion will account for 10 points
in which 5 points is rewarded to your own post and 5 points is rewarded to your response
to peers. The discussion is always due on Sunday of the assigned week. I dont grade
any late response/submission.

Term Project:
Each student will conduct a company research project to apply knowledge from this
course. The detailed instructions are in Modules in Canvas. This project accounts for
100 points into the overall grade and is due by Sunday, April 16th. The late submission
is accounted for half credit. In the Modules, I also upload a grading rubric to give you
an idea how I will grade your paper. Early submission is highly recommended!

Grading:
Your final letter grade will be determined on your total score earned on various
assignments as in the following:
Course Work Points
Homework assignments 390 [=13x 30pts]
Quizzes 195 [=13x 15pts]
Discussions 100 [=10x10pts]
Midterm exam 100
Final exam 100
Term Project 100
Total 985

Course Grades will be based on the following scale:

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 Grade Total(out of 985)
A 886.5-985(>=90%)
B 788-886.4(80%-89.9%)
C 689.5-787.9(70%-79.9%)
D 591-689.4(60%-69.9%)
F Below 591(<60%)

Extra Credit: Extra credit may be offered at the discretion of the professor. Any extra
credit opportunities will be announced within Canvas.

Last day to drop or withdraw from the University with an automatic W: March
12th.

Course Setup on Canvas:

I presume everyone has had experience to use the Canvas system. If this is your first
time to use Canvas or need any help, please contact the Center for Teaching and
Learning located in Springwood Hall 202. 765-973-8561, iuectl@indiana.edu.

Here, I just want to briefly introduce the setup of my course on Canvas. When you go to
the homepage of my course, Introduction to Microeconomics, there are several tools on
the left side bar. Let me explain the purpose and function for those tools:

Home: go back to the homepage of this course.

Syllabus: you can down the electronic copy of course syllabus.

Announcements: I will use it to post my announcements to the class. Every week, I will
post an instruction at here to help you study each chapter. Please read all my
announcements!!

Modules: This is the most important tool! All useful study materials are under this tool. I
will upload powerpoint lectures, study guide, video clips, useful links in Modules.

Discussions: I will post all discussion topics here. You need to click the forum title first,
such as Discussion #1, and then click View Full Description to read my discussion,
and then click Post New Thread to respond my discussion. The discussion is always
due on Sunday of the assigned week. I dont accept any late response/submission.

Assignments: You submit your writing assignments, but all homework, quizzes and
exams will be posted on MyEconLab.

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Grades: You can only see your own grades for all assignments and exams. Please check
your gradebook regularly. Its very likely I might miss or incorrectly input your grades. If
you find any missing grades, please let me know immediately. Usually, I should update
your gradebook every Monday.

Chat Room: The chat room serves two purposes. First, you can exchange your opinion
and thoughts on the weekly news reading or you can share any other appropriate
information. Second, you can initiate a study group here. You can ask questions, discuss
chapter materials and homework and quiz questions (exam questions are prohibited to
discuss here). Whoever starts the study group is the curator of the study group. He/she is
responsible to arrange and manage the group. I will regularly visit but will not initiate
posts. If a question cannot be answered or incorrectly answered by group members, I will
jump in to answer it.

These are the key tools for this course on Canvas. Please feel free to ask me any question
for these tools.

Course Policies:
Student Expectations: You are expected to carefully and thoroughly read through the course
syllabus before the start of the semester. It is your responsibility to be familiar with course
content, procedures, and grading. You should be logging onto Oncourse regularly throughout
the week to view announcement, check emails, contribute to discussions, post questions, read
posting of others, etc.
Students are responsible for converting deadlines in Eastern Time to their local time. Using
different time zones as an excuse for missing assignments is not accepted! You are expected to
devote appropriate amount time on this course to achieve a decent grade. Please plan ahead for
any conflict between study, work, family, and personal obligations.

Technical Requirements: Because this is an online course, students should also have access
to a relatively up-to-date computer, with all the necessary software (including Adobe Reader
and Flash, word processing software, and a browser), to complete your assignments. At times,
you will be required to watch videos, so high speed Internet may also be helpful. If you do
not have high speed Internet, you might want to visit a public location, like a school or
library, to watch those videos. Registered students have access to a number of free software
programs through the IUWare (http://iuware.iu.edu) and IUAnyWare
(https://iuanyware.iu.edu) websites. If you have technical problems or questions
concerning Oncourse, please contact IU East Help Desk at Room 169, Hayes Hall, IU
East or 765-973-8375. The instructor is not responsible for any technical issue.

Deadlines: I will announce most activities and assignments in advance. I strongly encourage you
to submit your work before the deadline. The general deadlines for homework will be
Saturday, 11:59pm EST, and for quizzes and discussions will be Sunday, 11:59 pm EST.
Again, please adjust the Eastern Time to your local time accordingly.

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Civility and Professionalism: Students are expected to behave in an adult, socially
responsible manner, in accordance with the Code of Student Rights, Responsibilities, and
Conduct:
http://www.indiana.edu/~code/. You are reminded that this is a professional/academic
environment and a certain level of decorum is expected. Flaming, venting, ranting, and
other threatening/uncivil behavior are forbidden.

Course Withdrawal: You may drop a class with no grade recorded on your transcript
during the first week of classes. From the second week of classes through October 26th
(the auto W period), you may withdraw from a class with an automatic grade of W.
This will be recorded on your transcript, but not included in your GPA. After October
26th (and before the final exam period), a student wishing to withdraw with a grade of
W must be passing the course at that time. You must complete a Drop Only form and
contact the offices listed for signatures before giving the form to me. I will confirm on
the form that you are passing at that time for a W grade or that your grade is an F.
This F grade WILL be included in calculation of your GPA.
I am required to report any student who stops attending a class and does not withdraw
(with a grade of W or F). Failure of a course due to non-attendance may affect
financial aid award amounts.

University Policies:

Academic Misconduct

Academic misconduct may result in disciplinary action according to University

policy. Academic misconduct includes Plagiarism and Disruptive Student Conduct:

Plagiarism

It is the violation of academic expectations about using and citing sources.

Definition: In an instructional setting, plagiarism occurs when a writer deliberately uses
someone elses language, ideas, or other original (not common-knowledge) material
without acknowledging its source (WPAplagiarism.pdf, from
http://wpacouncil.org/node/9).

The Three Principles of Academic Honesty

1. When you say you did the work yourself, you actually did it.
2. When you rely on others work, you cite it. When you use their words you quote
them openly and accurately, and you cite them too.
3. When you present research materials, you present them fairly and truthfully. Thats
true whether the research involves data, documents, or the writings of other scholars
(From chapter 1, Charles Lipson: Doing Honest Work in College [Chicago: U of Chicago
P, 2004])

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 Indiana University has a license for a software program known as Turnitin. This
software is designed to help ensure the academic integrity of the course and protect the
honest efforts of conscientious students. Papers and select assignments may be submitted
electronically to Turnitin.com.

Students with Disabilities

If you need special arrangements for a documented disability, please contact Student
Support Services at www.iue.edu/support or 765-973-8310 or 765-973-8472 (TTY). If
you would like to share pertinent medical information, or request special arrangements
for class seating, or need special assistance in the event of a building evacuation, please
see your instructor after the first class meeting.

Civility and Personal Management

All students are expected to adhere to the academic guidelines in the Code of Student
Ethics, Indiana University. All students are expected to be in compliance with the Code
of Student Rights, Responsibilities, and Conduct. These documents may be accessed via
the Web at: http://www.iue.edu/academics/dos/code.php. It is expected that class
members will act responsibly in fulfilling course requirements and managing the quality
of participation and discourse in class-related activities.

IU Policies related to Sexual Assault

As your instructor, one of my responsibilities is to help create a safe learning

environment on our campus. Title IX and our own Sexual Misconduct policy prohibit
sexual misconduct. If you have experienced sexual misconduct, or know someone who
has, the University can help. I encourage you to visit http://stopsexualviolence.iu.edu/ to
learn more. If you are seeking help and would like to speak to someone confidentially,
you can make an appointment with a Mental Health Counselor on campus (contact
information available at http://stopsexualviolence.iu.edu/employee/confidential.html).

It is also important that you know that federal regulations and University policy require
me to promptly convey any information about potential sexual misconduct known to me
to our Deputy Title IX Coordinator or IUs Title IX Coordinator. In that event, they will
work with a small number of others on campus to ensure that appropriate measures are
taken and resources are made available to the student who may have been
harmed. Protecting a students privacy is of utmost concern, and all involved will only
share information with those that need to know to ensure the University can respond and
assist.

FLAGS SYSTEMS:

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 This semester I will be using IUs FLAGS System to provide real-time feedback on your
performance in this course. Periodically throughout the semester I may be entering data
on factors such as your class attendance, participation, and success with coursework,
among other things. This information provides feedback on how you are faring in the
course and may offer you suggestions for how to improve your performance. You will be
able to access this information through One.IU (https://one.iu.edu) and the View
Grades tile. The student performance roster (FLAGS) will show up there once I have
submitted it. Ill let you know in class as I make submissions so youll know when to
check. You can always come talk to me directly about how you are doing in class.

Course Schedule

The following should be regarded as provisional outline of the content and chronology of
the course, and is subject to modification as the semester progresses. Any change will be
announced via Canvas.

Week Dates Chapters Topics Assignment Due

1 Economics: Foundations and Models
Week 1 1/09-1/15 Appendix 1 Using Graphs and Formulas HW #1, Quiz #1
& Discussion #1

1/16-1/22 2 Trade-offs, Comparative Advantage, and the

Week 2 Market System HW #2, Quiz #2

Week 3 1/23-1/29 3 Where Prices Come From: The Interaction of HW #3 & Quiz #3
Demand and Supply Discussion #2

Week 4 1/30-2/05 4 Economic Efficiency, Government Pricing Setting, HW #4 and Quiz #4

And Taxes Discussion #3
Week 5 2/06-2/12 5 Exernalities, Environmental Policy, and Public HW #5, Quiz #5 &
Goods Discussion #4
Week 6 2/13-2/19 6 Elasticity: The Responsiveness of Demand and HW #6, Quiz #6
Supply & Discussion #5
Week 7 2/20-2/26 10 Consumer Choice and Behavioral Economics HW #7 & Quiz #7
Discussion #6
Week 8 2/27-3/05 Midterm Exam Week Midterm Exam
Week 9 3/06-3/12 11 Technology, Production, and Costs HW #8 & Quiz #8
Week 10 3/13-3/19 Spring Break (No class)

Week 11 3/20-3/26 12 Firms in Perfectly Competitive Markets HW #9 and Quiz #9

Week 12 3/27-4/02 13 Monopolistic Competition: The Competitive HW #10 & Quiz #10
Model in a More Realistic Setting Discussion #7

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Week 13 4/03-4/09 14 Oligopoly: Firms in Less Competitive Markets HW #11 & Quiz #11
Discussion #8
Week 14 4/10-4/16 15 Monopoly and Antitrust Policy HW #12, Quiz #12 &
Term Paper
Pricing Strategy HW #13, Quiz #13 &
Week 15 4/17-4/23 16 Discussions 9 & 10

Week 16 4/24-4/30 Final Exam Week Final Exam

Important Dates:
January 9(Mon.) CLASSES BEGIN
January 15(Sun.) Last day to register, add courses, or change sections. Last
day to drop courses or totally withdraw with no grade recorded.
From September 1through October 26 a grade of W will be
recorded for all courses dropped.
January 15 (Sun.) Last day to drop or withdraw with a 100 percent refund.
January 16 (Mon.) Dr. Martin Luther King Jr. Birthday -- Holiday. Campus closed.
January 22 (Sun.) Last day to drop or withdraw with a 75 percent refund.
January 29(Sun.) Last day to drop or withdraw with a 50 percent refund.
February 5(Sun.) Last day to drop or withdraw with a 25 percent refund. No
refund after this date.
February 10 FEE PAYMENT DUE DATE.
March 10 FEE PAYMENT DUE DATE.
March 12 (Sun.) Deadline to drop or withdraw from the University with an
automatic W.(Drops after this date must be approved by the
instructor and academic dean.)
March 13 19 Spring Breakno classes (campus is open).
March 20 (Mon.) Open registration for Fall 2017 begins.
April 10 (Sun.) FEE PAYMENT DUE DATE.
April 15 Deadline to apply for December 2017 graduation.
April 24 (Mon.) LAST DAY OF CLASSES. Deadline to withdraw with
instructors grade of W or F.
April 25 May 1 Final examination period.
May 1 (Mon.) Last day of final examinations.
May 3 (Wed.) Deadline for faculty to have their grades posted in SIS.
May 4 (Thur.) Spring grades available at www.one.iu.edu
May 12 (Fri.) Commencement

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