Overview

Microeconomics is the study of how individuals, households, and firms make decisions on how to use limited resources. You will learn about supply and demand, pricing, equilibriums, and elasticity, as well as monopoly and oligopoly.

This course is the more practical side of economics. It is designed to teach good business decisions, help students understand how companies target potential clients, and understand how legislation affects individual consumers and businesses.

This is by no means an easy subject. There is logic, math, and concepts that may take a while to wrap your brain around, but it is a worthwhile and practical subject for students of any major. This course emphasizes the functioning of the price system and its effects on households and businesses. Students should expect to allocate at least 9–12 hours each week for this course.

Catalog Description

This introductory course in microeconomics studies the behavior of individual economic agents such as consumers and businesses in a market economy. Analytical tools are used to study the consumption and production decisions in an economy under perfect and imperfect market conditions (three credits).

Requirements

Prerequisites

No prerequisites.

Required Resources

Textbook and Accompanying Software

Principles of Economics (3rd edition) with McGraw-Hill Connect. This course uses a low-cost auto-access eBook and accompanying McGraw-Hill Connect software. (Auto-access means the textbook and Connect activities are integrated into this course). The textbook is accessible the first day of the semester. Your student financial account will be charged automatically after the drop date.

• Because this course requires the use of McGraw-Hill Connect (course software), do not opt out of materials for this course. It is necessary for the integration to properly work in the course. 
• You can access the textbook from the Textbook Information module in the course or from the McGraw-Hill Connect link in the navigation bar on the left side of every course page.
• McGraw-Hill Connect assignments are built into the course pages. 
• Optional: If you would like a hardcopy textbook in addition to the electronic access you have through the I-Learn course, you may purchase a hard copy from the University Store at a reduced cost. To do this, contact the University Store and provide the print ISBN listed below. Explain that you have already purchased the eBook as an auto-access textbook in your course. Print ISBN: 1260933008

Read the information in the Textbook Information module to learn how to access your textbook. 

Resource Title and Description (books, software, etc.)	Author or Provider	Ed. or Vol.	13-Digit ISBN
Principles of Economics   (charged the first day of class)	Carlos Asarta and Roger Butters	3rd	1260933008

McGraw-Hill Account

Because this course uses McGraw-Hill Connect activities, you are required to create a McGraw-Hill account if you have not previously created one for a BYU-Idaho course. The instructions found in the Textbook Access module of the course (in the page titled "Access McGraw-Hill Connect") guide you to complete the necessary steps for setup.

Other Required Resources

You will be using Zoom and Proctorio during this course. You will need a microphone and a webcam that will work with your computer.

Structure

Course Outcomes (CO)

1. Demonstrate the economic way of thinking in decision-making (in other words, opportunity cost, scientific method, marginal analysis, scarcity, rationality, unintended consequences).
2. Illustrate how a market allocates resources through the interactions of demand and supply.
3. Demonstrate the impacts of market intervention and external forces on market outcomes. (in other words, externalities, public goods, and government intervention).
4. Estimate and interpret demand and supply responsiveness measures in real-world situations.
5. Model different market structures (monopoly, monopolistic competition, oligopoly, competition) to assess their implications for efficiency, equity, and profitability.

Major Assignments

The table below is meant to help you see the relevance of each major assignment as it pertains to the course outcomes (CO).

Major Assignment	Description	CO#
Group Assignments	Each week, you will meet with your small group to discuss microeconomic principles.	1
Exams	Weekly quizzes will prepare you for the three course exams. These exams will test your knowledge of microeconomic principles.	1, 2, 3, 4, 5

Weekly Patterns

Each week, students are expected to have read the course material and completed the preparation phase, which usually means completing the Adaptive assignment using McGraw-Hill Connect. Students will be invited to attend the live class meeting or office hour with their instructor and fellow classmates (or watch the recording), discuss questions from the week’s material, and review the activities and assignments from the week prior.

During the week, students will meet with a small group using Zoom to discuss important principles and complete a worksheet together. Other assignments will be completed using McGraw-Hill Connect, which are to be due by the end of the week.

The table below displays typical weekly activities, due dates, and activity descriptions. 

Due Date	Learning Model	Activity Title	Description
Midweek	Prepare	Adaptive Assignment	Study the week's topic.
End of the Week (The actual time will be scheduled by your instructor.)	Teach One Another	Weekly Class Meeting	Live meeting with instructor and classmates. This meeting will be recorded, and you are expected to attend or watch the recording later.
End of the Week	Teach One Another	Group Assignment	Meet with a small group to discuss and use microeconomic principles.
End of the Week	Ponder and Prove	Homework	Practice with the week's microeconomic topic.
End of the Week	Ponder and Prove	Application	Apply the microeconomic concept from the week.
End of the Week	Ponder and Prove	Quiz	The quizzes are designed to measure your learning.

NOTE: Set your time zone within user preferences so the dates and times for course activities will display correctly for your time zone.

Expectations

Feedback

You can expect to receive grades and feedback within seven days of the due date for all assignments.

Workload

Progress sequentially and steadily through the elements associated with each week. Set aside time to work on the course regularly. For a three credit course, it is anticipated that you will spend approximately 9–12 hours weekly working on the course. Ask for help promptly if you are having difficulties.

Group Work

Nearly every week, you will meet with a small group to discuss the week's topic of study and complete a worksheet together. In Week 01, you will choose a time that works best for you and self-enroll in a group. This is a course requirement. 

Late Work

As a sign of professionalism and respect, students are expected to complete assignments by the assigned deadline. No late work will be accepted except in emergency situations at the discretion of the instructor.

Retries

There are three exams in the course. You may retake Exam 01 and Exam 02 twice. However, the scores for each attempt will be averaged. You will not get a second attempt on Exam 03.

Extra Credit

Students can earn extra credit points by participating in an optional Questions & Answers discussion. Up to one point per week is available.

Grading Policies

Adaptive Assignment (about 4% of total)

Each week begins with an Adaptive Assignment which you will complete on the McGraw-Hill site. It is recommended that you complete the reading before you attempt the assignment, but you can do this in any order. These Adaptive Assignments are due midweek. The lowest Adaptive Assignment score will be dropped. 

Group Assignments (about 4% of total)

In Week 01, you will sign up for a group. Beginning in Week 02, you will work with your group to discuss assigned problems and complete a worksheet together. Each group assignment is due by the end of the week. Only one group member must submit the group worksheet. The lowest Group Assignment score will be dropped. 

Homework (about 20% of total)

Homework assignments are completed online using McGraw-Hill Connect. Homework assignments are due at the end of the week. The lowest Homework score will be dropped. 

Application Assignment (about 4% of total)

Application assignments are completed online using McGraw-Hill Connect. Application assignments are due at the end of the week. The lowest homework score will be dropped. 

Quizzes (about 8% of total)

Most weeks include a quiz. These quizzes are provided for you to help you check what you have learned from the text. The lowest quiz score will be dropped. 

Exams (about 60% of total)

Three exams will be given during the semester.

• Exam 01 (W06) and Exam 02 (W11) can be taken twice, but the scores for each attempt will be averaged. 
• Exam 03 (W14) may only be taken once. It is a comprehensive exam.
• All exams will be taken within the I-Learn system and will be proctored using Proctorio. 
• Each exam is closed book.
• NOTE: The lowest exam score will not be dropped, but you are allowed to take Exam 01 and Exam 02 twice. However, the scores for each of these attempts will be averaged. 

Proctored Exams and Assessments

This course will use an online proctoring software called Proctorio. This makes it possible for students to take assessments and exams without a human proctor present. Proctored exams can be accessed like any other exam once the software has been installed. Exams will be recorded by Proctorio and reviewed by the BYUI Testing Center. Any questionable exams will be forwarded to the instructor for further review.

For step-by-step instructions on Proctorio installation, please refer to Student Help: Proctorio in Canvas.

Grading Scale

Final grades will be determined as follows:

Letter Grade	Percent
A	100%–93%
A-	92%–90%
B+	89%–87%
B	86%–83%
B-	82%–80%
C+	79%–77%
C	76%–73%
C-	72%–70%
D+	69%–67%
D	66%–63%
D-	62%–60%
F	59% and lower

University Policies

Students with Disabilities

Brigham Young University-Idaho is committed to providing a working and learning atmosphere that accommodates qualified persons with disabilities. If you have a disability and require accommodations, please contact the Disability Services Office at (208) 496-9210 or visit their website and follow the Steps for Receiving Accommodations. Reasonable academic accommodations are reviewed for all students who have qualified documented disabilities. Services are coordinated with students and instructors by the Disability Services Office.

This course requires synchronous meetings. If you are currently registered with the Disability Services Office and need an interpreter or transcriber for these meetings, please contact the deaf and hard of hearing coordinator at (208) 496-9219.

Other University Policies

Student Honor and Other Policies

Please read through the document called University Policies. It gives important information about the following topics:

• Student Honor
  • Academic Honesty
  • Student Conduct
    • Sexual Harassment
  • Student with Disabilities
  • Complaints and Grievances
  • Copyright Notice

Go to the Student Resources module to review further resources and information.

Help

If you need assistance, visit the I-Learn Help tab located on the left side of your screen to contact the appropriate support center.