SYLLABUS FOR ADM 470

ECONOMICS PREREQUISITE

JANUARY 2006

DR. WILLIAM SHINGLETON

LOCATION: MERRILLVILLE TUESDAYS 6:00-10:00

EMAIL:wsirius30@juno.com

WEBSITE: http://oocities.com/wsirius30

PHONE:1.219.464.9708 (HOME)

OBJECTIVES OF ADM470: The most important goal of this course is to help you learn to approach questions in a logical manner. Economists are notorious for the maddening attention they devote to the precision of their language, and for the absolute and uncompromising standards they apply to a logical argument. These are among the ultimate objectives of a university education.

Within the discipline of economics, this course should (1) give you some feel for the economic theory of decisions, as it applies to both the individual and the group, (2) familiarize you with some of the currently discussed policy alternatives, and (3) teach you to become more aware of the starring role of profit in a capitalist economy, the problems of income distribution, and the economic perspective on issues of social justice.

HONOR VIOLATIONS: Indiana Wesleyan University has a clear policy. If I may quote from the BULLETIN, “A graduate student is expected to understand clearly the nature of cheating and is subject to dismissal from the University for a single incident.” There shall be no second chances and no exceptions to this rule. If anything comes in under your name, it must be your own work in your own words.

ATTENDANCE: According to Indiana Wesleyan University policy, when you have missed more than one workshop you will have failed the course. If you are more than one hour late to a workshop, an absence is recorded.

WHAT I EXPECT OF YOU: You have three roles to play in the next few weeks; first, read the text assignments before coming to class; second, come to workshop; and third, ask questions as soon as you think you sense a point of confusion.

GRADING PROCEDURE: Your grade will be a combination of classroom participation (100 points), in-class written work (100 points in each of the first two workshops), and a final examination (200 points). Since this is a pass-fail course you must earn 75 percent of the 500 point total to pass the course.

MAKE UP ASSIGNMENTS: All make up assignments will be submitted before the next scheduled workshop. You should contact me immediately by e-mail. No make-ups are available more than one week after the regularly scheduled workshop and your grade at that time is zero. The length, difficulty, and format of any make up will be at my discretion.

COURSE CONTENT: SOFTWARE: This is a paperless workshop. Check your email on a daily basis during the week. Additional information and assets are available at my website.

COURSE CONTENT: Assigned readings are from the text, INTRODUCTION TO ECONOMICS (2nd edition) by Marc Lieberman, Southwestern Publishing Company, 2005. The Study Guide is optional since some past students have found it to have been useful and others have found it to have been a waste of time. I don’t believe in wasting time.

ADM 470 READING ASSIGNMENTS FOR SPRING 2005

DATE(S) TOPIC(S) CHAPTER(S)

1. JAN17 INTRODUCTION AND ORGANIZATION 1-3

ROLE OF PROFIT 1

OPPORTUNITY COST 1

MODELS 1

USE OF GRAPHS 1

PRODUCTION POSSIBILITIES MODEL 2

EFFICIENCY

GROWTH

TRADE

SUPPLY AND DEMAND I 3

(THIS IS THE IMPORTANT STUFF!)

ELASTICITY OF DEMAND 3 APPENDIX

QUIZ 1

2. JAN24 PRODUCTION AND COST 5

PROFIT MAXIMIZATION 6

COMPETITIVE MARKETS 7

OPERATING RULES NOTES

QUIZ 2

3. JAN31 PRICE SETTING FIRMS 8

OPERATING RULES NOTES

PRICE DISCRIMINATION 8 APPENDIX

MACRO NUMBERS 12

MACRO SYSTEMS 12

FINAL EXAM