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Southern Utah University
Southern Utah University
Fall Semester 2025

Principles of Microeconomics (Face-to-Face)

ECON 2010-05

Course: ECON 2010-05
Credits: 3
Term: Fall Semester 2025
Department: ECON
CRN: 30174

Course Description

Introduction to basic microeconomic principles: price theory, theory of the firm, trade and comparative advantage, public goods, taxation, welfare economics, and industrial organization. Public policy with regard to the environment, consumer protection, and other problems is also examined. (Fall, Spring, Summer) [Graded (Standard Letter)] Registration Restriction(s): Intensive English Program majors may not enroll General Education Category: Social and Behavioral Sciences

Required Texts

Principles of Microeconomics- B. Stevenson & J. Wolfers, 2nd Edition, Macmillan Learning, Worth Publishers. (Inclusive Access on Canvas)      
Macmillan Learning Achieve is mandatory.  Please follow the posted instructions in Canvas on registering for Achieve. 

Learning Outcomes


Critical Thinking: Students demonstrate disciplined processes of actively and skillfully conceptualizing, applying, analyzing, synthesizing, and/or evaluating information gathered from, or generated by, observation, experience, reflection, reasoning, or communication, as a guide to belief and action. 

Quantitative Literacy: Students can understand and create sophisticated arguments supported by quantitative evidence and clearly communicate those arguments in a variety of formats (using words, tables, graphs, mathematical equations, etc., as appropriate). 

Civic Engagement: Students demonstrate that they possess the combination of knowledge, skills, values, and motivation to make a difference in the civic life of their community and to promote the enhancement of the quality of life in a community through both political and non-political processes.

Course Requirements

Economics is the study of how individuals and societies allocate their limited resources in attempting to satisfy their unlimited wants.  Microeconomics is the study of how the various individuals in a market economy interact and optimize their target (utility for consumers and profit for firms). We will be focusing on   

 ·         The fundamental concepts about individual decision-making are that people face trade-offs among alternative goals facing limitations and scarcity, that the cost of any action is measured in terms of forgone opportunities, that rational people make decisions by comparing marginal costs and marginal benefits, and that people change their behavior in response to the incentives they face.

·         The fundamental concepts about interactions among people arethat markets are usually a good way of coordinating economic activity among people, and that (optional) the government can potentially improve market outcomes by remedying a market failure or by promoting greater economic equality.

·         The fundamental concepts about the basic market structures. Understanding how markets are affected when we recognize that concentrated market power exists in most markets.

Assignments
Every chapter has 4 parts, learning curve, decision point, homework, and podcast assignment. 

The learning curve leads you to try dabbling the new knowledge in each chapter. By going through pertinent parts of the textbook, examples, and demonstrations, you read along the textbook in a more interactive and practice-based way. 

The decision point exposes you to real-life situations that involve the economic knowledge discussed in each chapter. By answering the surveys, you learn more about your response to these real-life situations and gain a better understanding of the knowledge learned. 

The homework is a set of more formal questions to ensure a clear understanding of the content. 

The podcast assignment is another interesting part of applying economics to real life. After listening to a clip of the podcast, you will apply the knowledge that you learned in this chapter to answer the attached questions. 

Course Outline

Week 1-2: Chapter 1. The four core principles of economics

Week 3-4: Chapter 2. Demand and consumer choice

Week 5-6: Chapter 3. Supply and producer choice

Week 7-8: Chapter 5. Elasticity: measuring responsiveness

Week 9-10: Chapter 4. Equilibrium: where supply meets demand

Week 11-12: Chapter 7. Welfare Economics: Evaluating market efficiency and market failure

Week 13-14: Chapter 14. Market structure and degree of market power

Instructor's policies on late assignments and/or makeup work

Late Policy: Reading Quizzes, Discussions, and Homework assignments have due dates (see Canvas for specific dates). I understand that at times life comes at you a little faster than you might be ready, as a result, you will be given a 24-hour grace period to turn in these assignments for full credit. Any submissions, without my approval in advance, after the 24-hour grace period will not receive any credit.

Attendance Policy

The Zoom broadcast, as well as its recording available on Canvas, is only intended for excuses such as disease and travel, approved by the instructor. Since this course is primarily purported for in-person instruction, the student who choose to take the class via Zoom should be aware of and sustain the consequence of taking this option, including but not limited to technology glitch, compromised quality of expression, etc. I will check attendance once each week and missing attendance would cause missing important content, and negatively impact your performance.

ADA Statement

Students with medical, psychological, learning, or other disabilities desiring academic adjustments, accommodations, or auxiliary aids will need to contact the Disability Resource Center, located in Room 206F of the Sharwan Smith Center or by phone at (435) 865-8042. The Disability Resource Center determines eligibility for and authorizes the provision of services.

If your instructor requires attendance, you may need to seek an ADA accommodation to request an exception to this attendance policy. Please contact the Disability Resource Center to determine what, if any, ADA accommodations are reasonable and appropriate.

Academic Credit

According to the federal definition of a Carnegie credit hour: A credit hour of work is the equivalent of approximately 60 minutes of class time or independent study work. A minimum of 45 hours of work by each student is required for each unit of credit. Credit is earned only when course requirements are met. One (1) credit hour is equivalent to 15 contact hours of lecture, discussion, testing, evaluation, or seminar, as well as 30 hours of student homework. An equivalent amount of work is expected for laboratory work, internships, practica, studio, and other academic work leading to the awarding of credit hours. Credit granted for individual courses, labs, or studio classes ranges from 0.5 to 15 credit hours per semester.

Academic Freedom

SUU is operated for the common good of the greater community it serves. The common good depends upon the free search for truth and its free exposition. Academic Freedom is the right of faculty to study, discuss, investigate, teach, and publish. Academic Freedom is essential to these purposes and applies to both teaching and research.

Academic Freedom in the realm of teaching is fundamental for the protection of the rights of the faculty member and of you, the student, with respect to the free pursuit of learning and discovery. Faculty members possess the right to full freedom in the classroom in discussing their subjects. They may present any controversial material relevant to their courses and their intended learning outcomes, but they shall take care not to introduce into their teaching controversial materials which have no relation to the subject being taught or the intended learning outcomes for the course.

As such, students enrolled in any course at SUU may encounter topics, perspectives, and ideas that are unfamiliar or controversial, with the educational intent of providing a meaningful learning environment that fosters your growth and development. These parameters related to Academic Freedom are included in SUU Policy 6.6.

Academic Misconduct

Scholastic honesty is expected of all students. Dishonesty will not be tolerated and will be prosecuted to the fullest extent (see SUU Policy 6.33). You are expected to have read and understood the current SUU student conduct code (SUU Policy 11.2) regarding student responsibilities and rights, the intellectual property policy (SUU Policy 5.52), information about procedures, and what constitutes acceptable behavior.

Please Note: The use of websites or services that sell essays is a violation of these policies; likewise, the use of websites or services that provide answers to assignments, quizzes, or tests is also a violation of these policies. Regarding the use of Generative Artificial Intelligence (AI), you should check with your individual course instructor.

Emergency Management Statement

In case of an emergency, the University's Emergency Notification System (ENS) will be activated. Students are encouraged to maintain updated contact information using the link on the homepage of the mySUU portal. In addition, students are encouraged to familiarize themselves with the Emergency Response Protocols posted in each classroom. Detailed information about the University's emergency management plan can be found at https://www.suu.edu/emergency.

HEOA Compliance Statement

For a full set of Higher Education Opportunity Act (HEOA) compliance statements, please visit https://www.suu.edu/heoa. The sharing of copyrighted material through peer-to-peer (P2P) file sharing, except as provided under U.S. copyright law, is prohibited by law; additional information can be found at https://my.suu.edu/help/article/1096/heoa-compliance-plan.

You are also expected to comply with policies regarding intellectual property (SUU Policy 5.52) and copyright (SUU Policy 5.54).

Mandatory Reporting

University policy (SUU Policy 5.60) requires instructors to report disclosures received from students that indicate they have been subjected to sexual misconduct/harassment. The University defines sexual harassment consistent with Federal Regulations (34 C.F.R. Part 106, Subpart D) to include quid pro quo, hostile environment harassment, sexual assault, dating violence, domestic violence, and stalking. When students communicate this information to an instructor in-person, by email, or within writing assignments, the instructor will report that to the Title IX Coordinator to ensure students receive support from the Title IX Office. A reporting form is available at https://cm.maxient.com/reportingform.php?SouthernUtahUniv

Non-Discrimination Statement

SUU is committed to fostering an inclusive community of lifelong learners and believes our university's encompassing of different views, beliefs, and identities makes us stronger, more innovative, and better prepared for the global society.

SUU does not discriminate on the basis of race, religion, color, national origin, citizenship, sex (including sex discrimination and sexual harassment), sexual orientation, gender identity, age, ancestry, disability status, pregnancy, pregnancy-related conditions, genetic information, military status, veteran status, or other bases protected by applicable law in employment, treatment, admission, access to educational programs and activities, or other University benefits or services.

SUU strives to cultivate a campus environment that encourages freedom of expression from diverse viewpoints. We encourage all to dialogue within a spirit of respect, civility, and decency.

For additional information on non-discrimination, please see SUU Policy 5.27 and/or visit https://www.suu.edu/nondiscrimination.

Pregnancy

Students who are or become pregnant during this course may receive reasonable modifications to facilitate continued access and participation in the course. Pregnancy and related conditions are broadly defined to include pregnancy, childbirth, termination of pregnancy, lactation, related medical conditions, and recovery. To obtain reasonable modifications, please make a request to title9@suu.edu. To learn more visit: https://www.suu.edu/titleix/pregnancy.html.

Disclaimer Statement

Information contained in this syllabus, other than the grading, late assignments, makeup work, and attendance policies, may be subject to change with advance notice, as deemed appropriate by the instructor.