ECO 500 – 11

St. Thomas University

ECO 500 – 11 

Fundamentals of Economics for Business

Term A2, 2015 Office - OMH #: 121

TEXT: W. Boyes and M. Melvin, Fundamentals of Economics. 6th edition. South-Western, 2014. ISBN: 978-1-13395610-3.

Make sure that you purchase the sixth edition!!

COURSE OVERVIEW:

The course is a one-credit, independent, self-paced study of economic principles and practices for those who no previous background in economics. It is for students who have not completed the MBA/MIB economics prerequisite.

STUDENT LEARNING OUTCOMES:

After completing this course, students will be able to:

1. Explain the production possibilities curve.

2. Utilize the tools of supply and demand.

3. Understand the role of the Federal Reserve System.

4. Analyze various fiscal and monetary tools and their impact in the economy.

5. Survey and analyze various economics issues (inflation, unemployment, etc.).

6. Apply the concept of elasticity.

7. Understand the costs of production.

8. Survey and analyze the four market models (perfect competition, monopoly,

oligopoly, and monopolistic competition, etc.).

ECO 500 – Page 2 Dr. Carrillo

Course Outline

Economic and the World Around You. Ch. 1.

Markets and the Market Process. Ch. 2.

The Free Market. Ch. 3.

The Firm and the Consumer. Ch. 4.

Costs and Profit Maximization. Ch. 5.

Competition. Ch. 6.

Government Intervention. Ch. 8.

An Overview of the National and International Economies. Ch. 9.

Macroeconomic Measures. Ch. 10.

Unemployment Inflation and Business Cycles. Ch. 11.

Fiscal Policy. Ch. 13.

Money and Banking. Ch. 14.

Monetary Policy. Ch. 15.

Read ALL instructions carefully!

Assignments are due on the posted dates

It will be to your advantage to do the assignments yourself. Otherwise, you will not be able to understand economics-related issues in some of the MBA/MIB courses. You need to learn to do the computations.

The grading will be on the Pass/No Pass system. If you don’t complete your assignments, on time, you will have to register for the course again.

You can either e-mail your assignments or deliver them to my office preferably before the deadline. I will review them and contact you if corrections are required. If you need to contact me, send me an e-mail.

After you have completed all the questions and the corrections (if necessary), I might require a few additional problems to confirm that you are prepared to take ECO 534.

______________________________________________

The following is the definition of academic dishonesty, including plagiarism as stated in the university’s graduate catalog:

“Academic dishonesty is considered to be the representation of another’s work as one’s own, either directly or through complicity in falsification; cheating; plagiarism; facilitating academic dishonesty; or infringing on academic rights of others”.

ECO 500 – Page 3 Dr. Carrillo

EXERCISES*

Ch. Exercise Number(s) Page(s)

1 1 and 4 19

2 2 and 3 53

3 1 and 2 74

4 4 and 6 90

5 1 and 5 104 - 105

Due on Monday, April 6th

6 2 and 4 126

8 1 and 7 178

9 2 and 8 198

10 2 and 11 220 - 221

Due on Monday, April 20th

11 1 and 9 246

13 4 and 9 291

14 1, 9, and 10 313

15 2 and 11 342 - 343

Due on Monday, May 4th

* Show your computations when applicable. (Do not use any computer software to help you). Do your own computations!

* Include chapters, exercise numbers, name, and student number

with your answers

ECO 500 – Page 4 Dr. Carrillo

General Emergency Management Responsibilities

Students are responsible for familiarizing themselves with emergency plans, procedures and evacuation routes in the buildings they use frequently. Emergency plans and procedures are accessible through the Emergency Management portal of the ST. THOMAS UNIVERSITY website at http://www.stu.edu/emergency. Students are responsible for maintaining their contact information for STUALERTS! to maximize the University's capability to notify them of a life threatening emergency and issue appropriate protective actions. Information regarding STUALERT! is accessible through the STUALERT! portal of the ST. THOMAS UNIVERSITY website at http://wens.stu.edu/ or students can register by texting their appropriate status (i.e., either STU Commuter OR STU Resident) to 69310.

THE UNIVERSITY WRITING CENTER

Consider visiting the Writing Center to discuss your assignments for this course or any others. You may schedule appointments (55 minutes) on an as-needed or weekly basis. UWC services are free.

Go the UWC web page to make an online appointment with a tutor.

http://www.stu.edu/UniversityWritingCenter/tabid/2317/Default.aspx

Writing Center tutors are specially selected and trained graduate and undergraduate students who can help you at almost any stage of your writing. Tutors will not do your work for you, but they can help you focus and develop your ideas, review your drafts, and polish your writing. What the tutors do is answer questions about grammar, mechanics, different kinds of writing styles, and documentation formats. Obviously, the tutors won’t necessarily be familiar with every class or subject, but they are able to provide valuable help from the perspective of an interested and careful reader as well as a serious and experienced student-writer.

Schedule your appointments with enough time to think about and use the feedback you’ll receive. Bring the syllabus, assignment handout and other relevant materials to your appointments