Syllabus for ECO-112



Economics is the study of how people manage their limited resources. There are two main branches of economics: macroeconomics and microeconomics. Macroeconomics is the study of phenomena that occur across the whole economy. Microeconomics deals with how individual households and firms make decisions and interact. The second branch is the subject of this course: Microeconomics (ECO-112-OL).

Note: If you have already taken Macroeconomics (Thomas Edison State College offering ECO-111-OL), you will notice that the first modules in this macroeconomics course (those that cover text chapters 1 through 9) are very close (but not identical) in content to the corresponding modules in the microeconomics course. Therefore, you may wish to review these modules rather than working through them as thoroughly as you will later modules. (Activities and assessments may differ, but they will cover the same content.) Be sure, however, that you submit all necessary quizzes and activities for this course, even if you have taken another economics course previously.


The primary objective of this course is to teach you to understand the interaction of households and firms in specific markets. You will study market efficiency, the tax system, the behavior of firms in the marketplace, and labor markets.

After completing this course, you should be able to: 

  1. Explain the role economics plays in the tradeoffs people make.
  2. Explain the relationship of trade, including comparative and absolute advantage, to the decisions made by domestic firms.
  3. Explain the importance of market forces as they determine market demand and supply versus individual demand and supply.
  4. Define the role elasticity plays in determining demand and pricing decisions of the firm. 
  5. Explain the differences between producer surplus and consumer surplus.
  6. Understand the role taxation plays in supply and demand.
  7. Distinguish between marginal utility, total utility, and diminishing utility. 
  8. Explain the differences between private and public goods.
  9. Explain the relationship between productivity and the cost of production. 
  10. Explain the differences between the different elements of the costs of production.
  11. Identify the various market structures and their characteristics. 
  12. Describe the differences between economic and accounting profit. 
  13. Describe the effects of the forms of imperfect competition on the marketplace.
  14. Discuss discrimination in the labor market.
  15. Explain income inequality and poverty and the policies to reduce them.
  16. Explain the theory of consumer choice and how consumes act to optimize their choices.


You will need the following materials to do the work of the course. The required textbook is available from the College's textbook supplier, MBS Direct.

Required Textbook


Microeconomics is a 3-credit online course, consisting of eleven modules. Modules include study materials and activities.


For your formal work in the course, you are required to participate in online discussion forums, complete written activities, take online module quizzes and an online proctored midterm examination, and complete a final project. See below for more details.

Consult the Course Calendar for activity due dates.

Discussion Forums

In addition to posting an introduction to the class in Module 1, you are required to participate in weekly online discussions.

Communication with the mentor and among fellow students is a critical component of online learning. Participation in online discussions involves two distinct activities: an initial response to a discussion question and at least two subsequent comments on classmates' responses. Meaningful participation is relevant to the content, adds value, and advances the discussion.

Comments such as "I agree" and "ditto" are not considered value-adding participation. Therefore, when you agree or disagree with a classmate, the reading, or your mentor, state and support your agreement or disagreement. You will be evaluated on the quality and quantity of your participation. Responses and comments should be properly proofread and edited, professional, and respectful.

Written Assignments

You are required to complete four written assignments. The written assignments are on a variety of topics associated with the course modules.


Microeconomics requires you to complete an online quiz within each module based on the module's assigned reading. The module quizzes are open book and consist of multiple choice questions. To maximize your learning experience, we recommend that you take the quiz as a pretest before reading the assigned chapter(s) and then retake the quiz as a posttest after you have read the chapter(s). You may continue to take the quiz as often as you want until the due date. Just be aware that the grade of your most recent attempt will be the one entered into the gradebook. The launch link for the quiz is available within the course website.


Note: You will see some new questions each of the first several times you attempt the quiz, so multiple attempts should serve as a useful review method.


Midterm Examination

Microeconomics requires you to take a proctored midterm examination.

The midterm is a closed-book, proctored exam and covers material in Chapters 1 through 12. The exam consists of multiple-choice questions (similar in kind to those you have seen on the quizzes) along with short essay questions, similar in kind to the Written Assignment and discussion questions. The exam is two hours long.

Note: You are permitted to use a calculator (scientific, graphing, or financial) but may not use a calculator on a phone, PDA, or any similar device.

For the midterm, you are required to use the College's Online Proctor Service (OPS). Please refer to the "Examinations and Proctors" section of the Online Student Handbook (see General Information area of the course website) for further information about scheduling and taking online exams and for all exam policies and procedures. You are strongly advised to schedule your exam within the first week of the semester.

Online exams are administered through the course website. Consult the Course Calendar for the official dates of exam weeks.

Statement about Cheating

You are on your honor not to cheat during an exam. Cheating means:

If there is evidence that you have cheated or plagiarized in an exam, the exam will be declared invalid and you will fail the course.

Final Project

Microeconomics requires you to complete a final project.

The final project consists of a question made up of several different parts. You will perform research on the required topics and provide your analysis. It will primarily encompass subject matter from the latter half of the course but will require understanding of the material from the first half.

The project will be made available to you on this course site approximately three weeks prior to the end of the semester. You will find it in the Final Project area of the site. It will be due no later than Saturday of the last week of the semester. 

Turnitin Requirement for Final Project

You are required to submit the final project in this course to, an academic plagiarism prevention site, prior to submitting the project within your course space. You will receive immediate written feedback from Turnitin regarding writing style as well as a plagiarism gauge with tips for proper citations. You then have the opportunity to edit your assignment with this feedback in mind and resubmit it to Turnitin for additional checking. Once you are satisfied with the project, you are required to submit the Turnitin feedback (also known as the originality report)  for the final version along with the project itself within the course space.

Read carefully the information found at the following link, as it will provide instructions for this requirement:

Turnitin FAQ Web Page

The course ID and password that you will need in order to create an account may be found at the following link. Look within Step 1, locating your course ID and password by semester.

Course ID and Password by Semester

This information can also be found within Using Turnitin for Assignments. You can locate this document in the topic list area of your course space.

Students please note: You have the option of submitting any of your assignments to Submit any additional assignments through the slots with the optional label. However, submitting other assignments is NOT a requirement and you should not submit originality reports for these assignments to your mentor.


Your grade in the course will be determined as follows:

All activities will receive a numerical grade of 0–100. You will receive a score of 0 for any work not submitted. Your final grade in the course will be a letter grade. Letter grade equivalents for numerical grades are as follows:






























Below 60

To receive credit for the course, you must earn a letter grade of C or better (for an area of study course) or D or better (for a course not in your area of study), based on the weighted average of all assigned course work (e.g., exams, assignments, discussion postings, etc.).


First Steps to Success

To succeed in this course, take the following first steps:

Study Tips

Consider the following study tips for success:


Thomas Edison State College is committed to maintaining academic quality, excellence, and honesty. The College expects all members of its community to share the commitment to academic integrity, an essential component of a quality academic experience.

Students at Thomas Edison State College are expected to exhibit the highest level of academic citizenship. In particular, students are expected to read and follow all policies, procedures, and program information guidelines contained in publications; pursue their learning goals with honesty and integrity; demonstrate that they are progressing satisfactorily and in a timely fashion by meeting course deadlines and following outlined procedures; observe a code of mutual respect in dealing with mentors, staff, and other students; behave in a manner consistent with the standards and codes of the profession in which they are practicing; keep official records updated regarding changes in name, address, telephone number, or e-mail address; and meet financial obligations in a timely manner. Students not practicing good academic citizenship may be subject to disciplinary action including suspension, dismissal, or financial holds on records.

All members of the College community are responsible for reviewing the Academic Code of Conduct Policy in the College Catalog and online at

Academic Dishonesty

Thomas Edison State College expects all of its students to approach their education with academic integrity—the pursuit of scholarly activity free from fraud and deception. All mentors and administrative staff members at the College insist on strict standards of academic honesty in all courses. Academic dishonesty undermines this objective. Academic dishonesty can take the following forms:


Thomas Edison State College is committed to helping students understand the seriousness of plagiarism, which is defined as using the work and ideas of others without proper citation. The College takes a strong stance against plagiarism, and students found to be plagiarizing are subject to discipline under the academic code of conduct policy.

If you copy phrases, sentences, paragraphs, or whole documents word-for-word—or if you paraphrase by changing a word here and there—without identifying the author, or without identifying it as a direct quote, then you are plagiarizing. Please keep in mind that this type of identification applies to Internet sources as well as to print-based sources. Copying and pasting from the Internet, without using quotation marks and without acknowledging sources, constitutes plagiarism. (For information about how to cite Internet sources, see Online Student Handbook > Academic Standards > “Citing Sources.”)

Accidentally copying the words and ideas of another writer does not excuse the charge of plagiarism. It is easy to jot down notes and ideas from many sources and then write your own paper without knowing which words are your own and which are someone else’s. It is more difficult to keep track of each and every source. However, the conscientious writer who wishes to avoid plagiarizing never fails to keep careful track of sources.

Always be aware that if you write without acknowledging the sources of your ideas, you run the risk of being charged with plagiarism.

Clearly, plagiarism, no matter the degree of intent to deceive, defeats the purpose of education. If you plagiarize deliberately, you are not educating yourself, and you are wasting your time on courses meant to improve your skills. If you plagiarize through carelessness, you are deceiving yourself.

For examples of unintentional plagiarism, advice on when to quote and when to paraphrase, and information about writing assistance and originality report checking, click the links provided below.

Examples of Unintentional Plagiarism

When to Quote and When to Paraphrase

Writing Assistance at Smarthinking

Originality Report Checking at Turnitin

Disciplinary Process for Plagiarism

Acts of both intentional and unintentional plagiarism violate the Academic Code of Conduct.

If an incident of plagiarism is an isolated minor oversight or an obvious result of ignorance of proper citation requirements, the mentor may handle the matter as a learning exercise. Appropriate consequences may include the completion of tutorials, assignment rewrites, or any other reasonable learning tool in addition to a lower grade for the assignment or course. The mentor will notify the student and appropriate dean of the consequence by e-mail.

If the plagiarism appears intentional and/or is more than an isolated incident, the mentor will refer the matter to the appropriate dean, who will gather information about the violation(s) from the mentor and student, as necessary. The dean will review the matter and notify the student in writing of the specifics of the charge and the sanction to be imposed.

Possible sanctions include:

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