Main Content

Syllabus

The information contained on this page is designed to give students a representative example of material covered in the course. Any information related to course assignments, dates, or course materials is illustrative only. For a definitive list of materials, please check the online catalog 3-4 weeks before the course start date.

The information presented here is reflective of the MBA version of this course. Content, assignments, and other aspects of the class may vary when offered in other programs.

MBADM 812: Economics for Business Strategy

Course Overview | Objectives | Materials | Library Resources | Technical Requirements and Help | Course Requirements and Grading | AI Policy | Course Schedule | Academic Integrity | Student Success and Support Resources | Additional Policies

Course Overview

This course is concerned with the economic way of thinking, the economics of effective management, the economic foundation of business strategy, and the economic environment of business. It draws on and integrates microeconomic and macroeconomic disciplines to bring new insights into business strategy and effective management.

There are no prerequisites for this course.

Course Objectives

Upon completion of this course, you should be able to do the following:

  • Recognize and identify economic foundations for business strategies.
  • Understand the behavior of consumers.
  • Identify different market structures, such as competitive, monopoly, and oligopoly, and production strategies in these markets.
  • Predict or interpret the determination of prices and output in different market structures and pricing strategies.
  • Perform cost minimization and profit maximization in different market structures.
  • Recognize the role of governments in free-market economies and their impact on prices and output.
  • Review the importance of the financial system and investment.
  • Analyze some basic macroeconomic concepts, such as economic growth, business cycles, interest rates, inflation, money, foreign exchange rates, and unemployment, and their importance for business decisions.
  • Analyze the fiscal and monetary policies of governments and their importance for business decisions and strategies.
  • Recognize and discuss the importance of international trade and international financial markets and their impacts on businesses.

General Information About the Course

Managerial economics is one of the important foundation courses of the OMBA program. All fields under the business program need to use information based on economics. The topics that we will cover in this course will be relevant in management, marketing, finance, and accounting. For example, identifying production and pricing strategies in different market structures is important for successful management; understanding tax policies and the cost structures of firms can be essential for accountants; analyzing consumers and the market’s features will be significant for accurate marketing decisions; the time value of money is the basic concept in finance, and market structures and production strategies are important for decisions in supply chain management.  

You need to work hard to learn how to do economic analysis, and memorization alone will not get you through the course. In this course, you will learn to think like economists, so you are encouraged to work on lots of problems. In the textbook, many small cases are discussed. It is strongly suggested that you read these applications to better understand the concepts. If you want to practice, there are many exercise questions to study in this course. The solutions to the selected questions from the textbook will be given in each lesson. It will be important for you to go over these questions and their solutions. Try to solve the assigned questions alone, and then compare your answers with the correct answers. The textbook is accompanied by an excellent study guidebook with many questions and their answers. This study guidebook can be helpful while getting prepared for quizzes and other exams.

Please note that this course is designed as a 3-credit course, and the materials covered are standard in introduction-level managerial economics courses. If you have a limited background in economics and/or business courses, it may take a longer time to study the assigned materials.

Why Do We Need to Use Mathematical Economic Models in This Course?

Economics uses mathematical modeling as a tool to understand the complex nature of consumption and production behaviors. Economists work on the optimization of the use of limited resources and their allocation in societies. Therefore, economists frequently use economic models to better understand this process. In this course, we will also use mathematical models. Because this is an introductory-level course, these economic models will be simple, and they will be assigned to illustrate the different market structures and consumption and production decisions. If you have a solid grounding in basic algebra, basic calculus, and quantitative relationships, you should have no trouble with the quantitative content of the course. In this course, you also need to understand and interpret graphs, make calculations from tables or figures, and solve simple equations to keep up with the class material. As you understand how these models work and how we can interpret their findings, you can better evaluate the optimization process of the use of limited resources and how we manage them effectively.

Integration, Collaboration, and Engagement

The OMBA is designed around the three-part ICE framework, a teaching and learning approach that incorporates the principles of integration, collaboration, and engagement (ICE). Learning and application of these essential business concepts through course content will provide you with a comprehensive and innovative outlook on the challenges in today’s business environment. The ICE framework involves the following types of learning:

  • Integrative learning: Unifies concepts across business disciplines, allowing you to engage in authentic problem-solving from a holistic perspective.
  • Collaborative learning: Embraces hands-on projects that promote team-based problem-solving, decision-making, and project management.
  • Engaged learning: Applies business concepts in an interactive and participative learning environment through the use of virtual classrooms and diverse multimedia forums.

Curricular Themes

The OMBA course design and instruction process are based on eight curricular themes that embody fundamental principles of business and industry. These themes are deliberately woven throughout the curriculum and, together, represent anchors for the OMBA program that foster skill-based learning characterized by vision and transformation:

  1. Leadership: Understand how to empower and inspire people through a shared vision based on ethical decision-making and integrity.
  2. Innovation: Understand how to create new methods, products, and/or ideas in a way that generates added value to solve a problem.
  3. Globalization: Understand the benefits of an integrated global economy through exposure to diverse perspectives related to the interconnectivity of technology, products, services, goods, and knowledge.
  4. Collaboration: Understand how groups and individuals work collectively across functions to achieve a common goal.
  5. Ethics: Understand ethical principles and moral decision-making as they relate to business decisions and management doctrines.
  6. Sustainability/community: Understand the management of financial, social, and environmental risks to ensure ongoing and responsible outcomes.
  7. Strategy: Understand the creation and implementation of a high-level plan that guides decision-making to ensure future success.
  8. Analytics: Understand how the collection, assessment, and application of digital data can be used for optimal decision-making and management.

Synchronous and Asynchronous Learning

To provide an optimal learning experience, all OMBA courses incorporate both synchronous (live) and asynchronous (on your own) learning activities that create balance, stimulate engagement, and appeal to diverse learning styles. All synchronous sessions will be recorded for your convenience. Live attendance is not mandatory. Conversely, asynchronous tools include discussion boards, blogs, quizzes, and tests, in which participation occurs at your own pace but within stated deadlines and due dates. Your instructor will identify when and how each synchronous and asynchronous tool will be used in this course.

Required Course Materials

This course requires that you access Penn State library materials specifically reserved for this course. You can access these materials by selecting Library Resources in your course navigation, or by accessing the Library E-Reserves Search and search for your instructor's last name.

Most World Campus courses require that students purchase materials (e.g., textbooks, specific software, etc.). To learn about how to order materials, please see the Course Materials page. You should check LionPATH approximately 3–4 weeks before the course begins for a list of required materials.

Library Resources

Many of the University Libraries resources can be utilized from a distance. Through the Libraries website, you can

  • access magazine, journal, and newspaper articles online using library databases;
  • borrow materials and have them delivered to your doorstep—or even your desktop;
  • get research help via email, chat, or phone using the Ask a Librarian service; and
  • much more. 

You must have an active Penn State Access Account to take full advantage of the Libraries' resources and service.  The Off-Campus Users page has additional information about these free services.

Wall Street Journal and New York Times Articles

The instructor will regularly assign articles from The Wall Street Journal and The New York Times as recommended readings for applications. These two newspapers, especially The Wall Street Journal, are major sources of news on topics related to business and economics. It is strongly suggested that you read them daily for recent news.

Penn State faculty, staff, and students have access to The New York Times and The Wall Street Journal at no additional cost through the Student News Readership Program. To take advantage of this program, you must register using your Penn State email. Please visit the Student News Readership Program page for complete details.

Please note that there might be access restrictions to these newspapers in some foreign countries. If you cannot access the newspapers directly, alternative free access to some individual articles might be possible through the Libraries using NewsFinder.

Technical Requirements and Help

Technical Requirements and Help
Operating System

Canvas, Penn State's Learning Management System (LMS), supports most recent versions of Microsoft Windows and Apple Mac operating systems. 

To determine if your operating system is supported, please review Canvas' computer specifications.

Browser

Canvas supports the last two versions of every major browser release. It is highly recommended that you update to the newest version of whatever browser you are using.

Please note that Canvas does not support the use of Internet Explorer. Students and instructors should choose a different browser to use.   

To determine if your browser is supported, please review the list of Canvas Supported Browsers.


Note: Cookies must be enabled, and pop-up blockers should be configured to permit new windows from Penn State websites.
Additional Canvas Requirements For a list of software, hardware, and computer settings specifically required by the Canvas LMS, please review Canvas' computer specifications.
Additional Software

All Penn State students have access to Microsoft Office 365, including Microsoft Office applications such as Word, Excel, and PowerPoint.

Students will need a PDF reader, such as Adobe Reader.

Hardware

Monitor: Monitor capable of at least 1024 x 768 resolution
Audio: Microphone, Speakers
Camera (optional, recommended): Standard webcam - many courses may require a webcam for assignments or exam proctoring software.

Mobile Device (optional) The Canvas mobile app is available for versions of iOS and Android. To determine if your device is capable of using the Canvas Mobile App, please review the Canvas Mobile App Requirements.
Help If you need technical assistance at any point during the course, please contact the Service Desk.


Student Education Experience Questionnaire (SEEQ)

During the semester you will receive information about completing the Student Education Experience Questionnaire (SEEQ). Your participation is an opportunity to provide anonymous feedback on your learning experience. Your feedback is important because it allows us to understand your experience in this course and make changes to improve the learning experiences of future students. Please monitor email and course communications for links and availability dates.

Course Requirements and Grading

 

Deadlines

Please note the deadlines of assignments in the Course Schedule. Unless otherwise noted, all deadlines are 11:59 p.m. Eastern Time (ET). As long as you submit the assignment before the deadline, your submission will be accepted, and there will be no grade reduction. Because the correct answers or discussion results will be announced mostly right after the deadline, late assignments will not be accepted. Because this is an online course, the main tool of communication will be Canvas announcements. The instructor may send frequent announcements as reminders of things to do each week, Zoom meetings, and deadlines. If you do not want to see these announcements in your email account, you may turn them off.

Makeup Policy

All exams must be taken at the assigned date and time, and all assignments (quizzes, exams, discussion assignments, and the group project) must be turned in no later than the specified day and time, or a zero will be recorded. An exception to this policy will be granted only for serious circumstances beyond your control. Arrangements for an exception must be made as soon as possible and in advance if at all possible. You should be prepared to provide evidence that the situation is indeed beyond your control. Because enough time will be given for the following assignments, there will be no makeup for quizzes, discussion boards, and the group project under any circumstances, including emergencies. Thus, complete them as soon as possible. If you prefer to complete them at the very last moment, you take your own risk, and it will be your responsibility. Please don’t wait until the last moment to complete the assignments.

Suggestions for Studying Course Materials
  • In each lesson, you will find lesson commentaries. These are the lecture notes for this course. It is suggested that you start each lesson by reading these. They will help you understand the framework of the lesson. These presentations summarize the content of each lesson. As explained previously, economic models are frequently used in economics. The ones included in this course are simple, and the aim will be to explain different economic concepts. These models are essential tools for understanding the essence of important economic concepts and analyzing different economic events for businesses.
  • Readings from the textbooks are assigned in each lesson. It is suggested that you read the textbook after reading the commentaries. The textbooks include many applications and cases as well as simple economic models to explain the substance of economic concepts and their importance for businesses and people. Please note that there are required readings and real-life applications as well as recommended readings and applications. The ones identified as required must be studied in each lesson.
  • You will find many ungraded exercise questions in each lesson module. They are very useful to test your knowledge, especially about the economic foundations of different business decisions. These exercise questions are for self-study, and solutions are provided. It is strongly suggested that you try to solve them by yourself and then check the correct answers. This way you can benefit more. However, if your time is limited, you can see the correct answer quickly by selecting the Show Answer button below each question or prompt.
  • In the lesson modules, you will find many recommended readings and recommended real-life business applications. Such readings are not mandatory but can help you a lot for discussions and the group project. Based on your interests and time, it is suggested that you read the recommended ones.
Collaboration and Teams in the OMBA

Helping you to enhance your skills and competencies related to group dynamics and teaming is a principal goal of the OMBA program. Consequently, this course includes team activities and group work that allow for the application of teaming concepts that you learned in the Team Performance course (MBADM 810). You are expected to work in teams effectively and productively to complete all team assignments. You may not request to work individually on team projects. Any adjustments to team composition are the sole right of the instructor. If you have concerns related to this commitment, please contact your instructor.

Assessments
 
Quizzes

These quizzes aim to test your knowledge for each lesson. There will be 15 quizzes, corresponding to each lesson covered in this course. You need to take any 10 of these quizzes. If you take more than 10 quizzes (it is strongly suggested that you take all of them), the lowest quiz grades will be dropped based on how many extra quizzes you took. For example, if you take all 15 quizzes, the five lowest quiz grades will be dropped, and the highest 10 grades will be counted in the final grade. After this adjustment, each quiz is worth 1% of the final grade. They are available in each lesson module. But you should take them after completely studying the related materials.

You can take them any time before the deadlines specified in the schedule and in the quiz assignment. But note that after you start, you have to complete them within the given period. You cannot stop them or retake them. Each quiz will last 60 minutes. Because five extra quizzes will be given, there will be no makeup for quizzes under any circumstances (including family emergency, illness, etc.). You have to complete them before the deadlines. The correct answers and grades will be posted after the deadline. It is strictly recommended that you use a reliable computer and a good internet connection while taking the exams and quizzes.

Please note that the quizzes are not group studies. You need to work alone, and you are not allowed to copy from other students.

One of the biggest mistakes students make while preparing online quizzes is thinking they don’t need to study hard since the quizzes are open book. Yes, they are open book, but that does not mean that you will have time to study the topics while taking the quizzes. You must get prepared for them as if you are taking a closed-book quiz. You must know the topics by heart. Because of the time limitations in the quizzes, you have to be quick while working on the questions. While studying the topics, if you prepare one or two pages of notes for each chapter, they can help you a lot in the quizzes.

Please note that you will have limited time to complete the quizzes (60 minutes). The quizzes are designed in such a way that you are expected to study before you take the quiz, not during the quiz. Please study all lesson materials thoroughly before you take the quiz.

Discussions

There will be four discussion topics posted in different lesson modules. You are expected to complete three of them. If more than three discussions are completed, only the three highest scores will count, and the rest will be dropped In your comments, you are expected to apply the fundamental theories that are covered in the course to analyze the given topics. Even though there are no explicit and unique answers for these topics, analysis or argument with good economic sense will earn you better scores. Based on the quality of your comments, you will get a grade after the deadlines. You will not be able to see other students’ posts and comments until you have completed your initial post. You need to complete your own discussions, comments, and peer comments before the deadlines specified in the Course Schedule. The discussion boards are available in different lesson modules. Your comments need to be original. You are not allowed to copy the comments of other students. All details on expectations and the rubric are given in the discussion boards. Please read them carefully before you start working on the discussions.

Please note that the discussions are not freestyle. You are expected to complete your comments in light of the questions given in each discussion board. The aim is to make you share your opinions and experiences in a well-organized structure. Also, please note that the instructor or the TSS team can reply to your discussion posts in the discussion assignments to evaluate or correct your submissions. They can also make suggestions. Other students will see these replies as well. Such responses by the instructor or the TSS team are important for the learning process.

Exams

There will be three exams:

  1. Exam 1: The day and time will be given in the Course Schedule, but it will be given during Lesson 7—20% of the final grade.
  2. Exam 2: The day and time will be given in the Course Schedule, but it will be given during Lesson 12—20% of the final grade.
  3. Final Exam: The day and time will be given in the Course Schedule, but it will be given after Lesson 15 during the Final Exam period—20% of the final grade.

The exams will consist of multiple-choice questions. None of the exams will be cumulative. Exam 1 will cover questions from Lessons 1–6; Exam 2 will cover questions from Lessons 7–11, and the Final Exam will cover questions from Lessons 12–15. The exams will test your knowledge of different lesson materials. The exams are open book. Please note that the exams are not group studies. You need to work alone, and you are not allowed to copy from other students. Note that each exam will have 30 multiple-choice questions on it. While exam grades are added to the overall grade, they will be scaled by 100% in the Canvas grade book. The exams will last 150 minutes. Similar to the quizzes, after you start an exam, you have to complete it within 150 minutes. Thus, when you take it, make sure that you have 150 minutes to complete it.

The exams will be available on the Canvas course website. Questions will appear one at a time. It is strictly recommended that you use a reliable computer and a good internet connection while taking the exams and quizzes. It is your responsibility.

Please note that you will have limited time to complete the exams (150 minutes). The exams are designed in such a way that you are expected to study before you take the exam, not during the exam. Please study all lesson materials thoroughly before you take the exam.

It is assumed that you will regularly study each week and complete all required lesson materials and assignments promptly. When you study weekly materials thoroughly, it is expected that you can get ready for the exams more easily. Therefore, we cover new lessons in the exam weeks too. Please note that these new lesson materials are not included in the exams given in the same week. They are asked about in the next exam. Also, note that you are expected to complete the quiz on these new materials in the exam week too. It is strongly suggested that you take them, but if you don’t want to take a quiz in the exam week you don’t have to, because there are 15 quizzes and you need to take at least 10 of them; if you want, you can skip some quizzes.

Please don't forget to study for the practice exams before the actual exams. It is the best way of testing your knowledge. The exam questions will not be exactly the same, but some questions may be similar. One of the biggest mistakes made by students while preparing for online exams is thinking that they don’t need to study hard since the exams are open book. Yes, they are open book, but that does not mean that you will have enough time to study the topics while taking the exams. You must get prepared for them as if you are taking a closed-book exam. You must know the topics by heart. Because of time limitations in the exams, you have to be quick while working on the questions. While studying the topics, if you prepare one or two pages of notes for each chapter, they can help you a lot in the exams.

Please note that if you have any scheduling conflict during the assigned exam period, the day and time of the exam can be adjusted. Please contact the instructor if you have such a scheduling conflict.

Detailed instructions will be given in the exams.

Group Project

The group project aims to combine theory and practice and help you better understand the applications of economic concepts in business decisions. The members of the groups will be randomly set by the instructor. The groups will consist of five members, but it can be higher or lower based on the total number of registered students.

Detailed information on the case, the instructions, the expectations, the rules, the rubric, and the step-by-step deadlines have been prepared. The file will be available in the Group Project module. It will be assumed that each member will read this file carefully. You will be asked to submit peer evaluation comments in Lesson 7 and Lesson 13.

The project will consist of three parts:

  1. Submission of peer evaluation comments for group progress (Peer Evaluation 1). Its weight is 0.5% of the final grade. The deadline is in Lesson 7.
  2. Submission of peer evaluation comments for the final report (Peer Evaluation 2). Its weight is 0.5% of the final grade. The deadline is in Lesson 13.
  3. Submission of the final report. Its weight is 9% of the final grade. The deadline is in Lesson 13.

Please check the instructions in the Group Project module for all necessary information, including all specified deadlines. It will be assumed that each member will read this file carefully.

Exercise Questions (Ungraded Assignment)

You will find many exercise questions in each lesson module. They are very useful for testing your knowledge, especially about the economic foundations of different business decisions. These exercise questions are for self-study, and solutions are provided. It is strongly suggested that you try to solve them by yourself and then check the correct answers. This way you can benefit more. However, if your time is limited, you can see the correct answers quickly.

Practice Exams (Ungraded Assignment)

There are three practice exams, one for each actual exam. These practice exams are self-study exams. No grades will be given for these practice exams. After submitting the practice exam, you can see the correct answers and your mistakes, if you have any. It is highly recommended that you take them before each exam.

Synchronous Online Meetings With Instructor (Optional)

There will be live meetings with the instructor. In these online meetings, the instructor and students will discuss the topics of the lesson modules and work on exercise questions and applications on these topics. These online meetings will be useful for you to learn about topics, get better prepared for assignments, and express your opinions on different economic events and their applications for businesses. The instructor will also answer your questions. The meetings will last about 45–60 minutes. Please note that you can always send your questions through Canvas messages. Depending on your feedback, we can work on different exercise questions, and your questions will also be answered.

Since these online meetings are not mandatory, if there is a scheduling conflict, you don’t need to attend. The sessions will be recorded and posted on the course website so that you can view them later. See weekly messages from the instructor for details. See the Course Schedule for specific dates and times. If there is any change in the date and time due to emergencies, you will be notified in Canvas announcements.

Honor Code and Professionalism

As a professional, you're expected to act with the highest integrity and demonstrate an exemplary work ethic. You must adhere to the Penn State Code of Conduct and also hold your peers accountable to the same standard. In group assignments, do your share of the work, on time, to the best of your ability. In discussions, be courteous and accepting of others' thoughts, although constructive conflict and disagreement—if communicated with respect and civility—can at times support learning. Keep in mind that you're in this course to study and learn new material that will benefit you in the future; you aren't here to simply get a grade in the easiest way possible. Enjoy and embrace the learning experience with an ethical mindset, and you'll always be proud of your work.

Grading

Your final grade will be based on the percentage of each category in the Assignment Categories table. Generally, students do well in this course. To avoid grade inflation, grades will not be rounded up. Thank you for understanding this policy.

Assignment Summary
Assignment Categories
Assignment Quantity Percentage of Final Grade
Quizzes 15 (you need to complete 10). If more than 10 quizzes are completed, only the 10 highest scores will count; the rest will be dropped. 10%
Discussions 4 (you need to complete 3). If more than 3 discussion assignments are completed, only the 3 highest scores will count; the rest will be dropped. 20%
Exam 1 1 20%
Exam 2 1 20%
Final Exam 1 20%
Peer Evaluation 1 for Group Project Progress  1 0.5%
Peer Evaluation 2 for the Final Report 1 0.5%
Group Project Final Report 1 9%
Total   100%
 
Grading Scale
Final Grading Scale
Percentage Earned Letter Grade
93–100% A
90–92.9% A-
87–89.9% B+
83–86.9% B
80–82.9% B-
77–79.9% C+
70–76.9% C
60–69.9% D
0–59.9% F

Please refer to the University Registrar's information about University grading policies. If, for reasons beyond the student's control, a student is prevented from completing a course within the prescribed time, the grade in that course may be deferred with the concurrence of the instructor. The symbol DF appears on the student's transcript until the course has been completed. Non-emergency permission for filing a deferred grade must be requested by the student before the beginning of the final examination period. In an emergency situation, an instructor can approve a deferred grade after the final exam period has started. Under emergency conditions during which the instructor is unavailable, authorization is required from one of the following: the dean of the college in which the candidate is enrolled; the executive director of the Division of Undergraduate Studies if the student is enrolled in that division or is a provisional student; or the campus chancellor of the student's associated Penn State campus.

For additional information please refer to the Deferring a Grade page.

Any Questions?

You can send a message to the TSS team and the instructor in Canvas (preferred) or directly to their email accounts. If you have any questions for the TSS team, always include the instructor in the message as well.

 

University AI Policies and Resources

If you choose to use an artificial intelligence (AI) technology for an assignment, your ethical responsibilities as a student are to:

Specific Course AI Expectations and Notes Found Here.


  • The assignments, especially quizzes and exams, are based on the information provided in the course materials. While the students may use AI tools or other tools if they wish, they should be aware that information from AI tools or other tools can often be incomplete, outdated, biased, or totally incorrect. Therefore, the students are expected to answer the assignment questions based on the materials provided on Canvas, in their textbooks, and during our online meetings.
  • Please be advised that submissions for discussion assignments and the group study assignment must be original. Any unoriginal work will receive a grade of zero. Submissions that consist of copy-pasted content from AI tools without proper citations and lack student contributions will be considered unoriginal. Please be aware that AI tools tend to provide very similar answers to identical questions. Consequently, the lack of originality becomes especially problematic if multiple students submit similar or identical work.

Course Schedule

View the Full Course Schedule

Course Schedule
  • Spring and Fall Semesters: 16 weeks
  • Summer Semester: 12 weeks

All assignments are due by 11:59 p.m. (ET) on the last day of each lesson, except where noted.

Please note that supplemental or recommended materials are not required to study. If you want to get more information about the topics that we cover each week and their applications, you can study these supplemental or recommended materials.

Welcome
Welcome and Orientation  
Readings

Required

  • Welcome and Orientation Module
  • Course Syllabus
Assignments
  • Class Introductions Discussion
Lesson 1
Lesson 1 Economic Foundation of Business Strategy; Basics of Supply and Demand
Readings

1.1

  • Required
    • Lesson 1.1 Commentary
    • Chapter 1 of Textbook 1, between pp. 3–11 (Section 1.1: The Themes of Microeconomics, and Section 1.2: What Is a Market?)
  • Real-Life Applications (Recommended)
    • Textbook 1
      • Example 1.1: Market for Sweeteners
      • Example 1.2: A Bicycle Is a Bicycle, or Is It?
      • Example 1.3: The Price of Eggs and the Price of College Education
      • Example 1.4: The Authors Debate the Minimum Wage
      • Example 1.5: Health Care and College Textbooks

1.2

  • Required
    • Lesson 1.2 Commentary
    • Textbook 1
      • The Demand Curve (pp. 23–25)
    • E-Reserve: Section 4-2: Demand, Principles of Microeconomics, Mankiw (2015)
    • Lesson 1.2 Exercise Questions (nongraded)

1.3

  • Required
    • Lesson 1.3 Commentary
    • Textbook 1
      • The Supply Curve (pp. 22–23)

1.4

  • Required
    • Lesson 1.4 Commentary
    • Textbook 1 (pp. 25–32)
      • Section 2.2: The Market Mechanism
      • Section 2.3: Changes in Market Equilibrium
    • Lesson 1.4 Exercise Questions (nongraded)
  • Real-Life Applications (Recommended)
    • Textbook 1
      • Example 2.1: The Price of Eggs and the Price of a College Education Revisited
      • Example 2.2: Wage Inequality in the United States
      • Example 2.3: Long-Run Behavior of Natural Resource Prices
      • Example 2.4: Effects of 9/11 on the Supply and Demand for New York City Office Space
      • Example 2.8: Behavior of Copper Prices
      • Example 2.9: Upheaval in the World Oil Market
  • See the list of recent articles in the Lesson 1 module as real-life applications (recommended).
Assignments

Required

  • Lesson 1 Quiz
Lesson 2
Lesson 2 Elasticities, Price Controls, and Consumer Behavior
Readings

2.1

  • Required
    • Lesson 2.1 Commentary
    • Textbook 1
      • Elasticities of Supply and Demand (pp. 33–34)
      • Short-Run Versus Long-Run Elasticities (pp. 36–44)
    • Lesson 2.1 Exercise Questions (nongraded)
  • Real-Life Application (Recommended)
    • Textbook 1
      • Example 2.5: The Market for Wheat (p. 37)

2.2

  • Required
    • Lesson 2.2 Commentary
    • E-Reserve: Total Revenue and the Price Elasticity of Demand, Principles of Microeconomics, Mankiw (2012)
    • Lesson 2.2 Exercise Questions (nongraded)
  • Real-Life Applications (Recommended)
    • Textbook 1
      • Example 4.4: The Demand for Housing
      • Example 4.5: The Long-Run Demand for Gasoline

2.3

  • Required
    • Lesson 2.3 Commentary
    • Textbook 1
      • Other Elasticities (pp. 34–35)
  • Real-Life Application (Recommended)
    • Textbook 1
      • Example 2.6: The Demand for Gasoline and Automobiles

2.4

  • Required
    • Lesson 2.4 Commentary
    • Textbook 1
      • Supply Elasticity (p. 36)
    • Lesson 2.4 Exercise Questions (nongraded)
  • Real-Life Application (Recommended)
    • Textbook 1
      • Example 2.7: Weather in Brazil and the Price of Coffee in New York

2.5

  • Required
    • Lesson 2.5 Commentary
    • Textbook 1
      • Price Controls (pp. 58–59)
    • Lesson 2.5 Exercise Questions (nongraded)
  • Real-Life Applications (Recommended)
    • Textbook 1
      • Example 2.10: Price Controls and Natural Gas Shortages
  • See the list of recent articles in the Lesson 2 module as real-life applications (recommended).

Assignments

Required

  • Lesson 2 Quiz
  • Discussion 1: Complete the initial post.

Recommended

  • Lessons 1 and 2 Live Zoom Meeting With Instructor: Wednesday @ 8 p.m. (ET)
Lesson 3
Lesson 3 Production Economics
Readings

3.1

  • Required
    • Lesson 3.1 Commentary
    • Textbook 1
      • Section 6.1: Firms and Their Production Decisions
    • Lesson 3.1 Exercise Questions (nongraded)
  • Real-Life Applications (Recommended)
    • Textbook 1
      • Example Box 6.1: Debate on Production Function for Health Care

3.2

  • Required
    • Lesson 3.2 Commentary
    • Textbook 1
      • Section 6.2: Production With One Variable Input (pp. 192–197)
    • Lesson 3.2 Exercise Questions (nongraded)
  • Real-Life Applications (Recommended)
    • Textbook 1
      • Example Box 6.4: A Production Function for Wheat (p. 208)

3.3

  • Required
    • Lesson 3.3 Commentary
    • Textbook 1
      • Section 6.3: Production With Two Variable Inputs (pp. 202–207)
    • Lesson 3.3 Exercise Questions (nongraded)

3.4

  • Required
    • Lesson 3.4 Commentary
    • Textbook 1
      • Section 6.4: Returns to Scale (pp. 209–211)
    • Lesson 3.4 Exercise Questions (nongraded)
  • Real-Life Application (Recommended)
    • Textbook 1
      • Example 6.5: Returns to Scale in the Carpet Industry (p. 211)
  • See the list of recent articles in the Lesson 3 module as real-life applications (recommended).
Assignments

Required

  • Lesson 3 Quiz
  • Discussion 1: Complete peer comments.
Lesson 4
Lesson 4 Cost Analysis
Readings

4.1

  • Required
    • Lesson 4.1 Commentary
    • Textbook 1
      • Section 7.1: Measuring Cost: Which Cost Matters? (pp. 215–218)
    • Lesson 4.1 Exercise Questions (nongraded)
  • Real-Life Application (Recommended)
    • Textbook 1
      • Example 7.1: Choosing the Location for a New Law School Building (p. 218)

4.2

  • Required
    • Lesson 4.2 Commentary
    • Textbook 1
      • Section 7.1: Measuring Cost: Which Cost Matters? (pp. 219–223)
      • Section 7.2: Costs in the Short Run (pp. 223–228)
    • Lesson 4.2 Exercise Questions (nongraded)
  • Real-Life Applications (Recommended)
    • Textbook 1
      • Example 7.2: Sunk, Fixed, and Variable Costs: Computers, Software, and Pizzas (pp. 221–222)
      • Example 7.3: The Short-Run Cost of Aluminum Smelting (pp. 226–228)

4.3

  • Required
    • Lesson 4.3 Commentary
    • Textbook 1
      • Section 7.4: Long-Run Versus Short-Run Cost Curves (pp. 239–245)
  • Real-Life Applications (Recommended)
    • Textbook 1
      • Example 7.6: Tesla's Battery Costs (p. 243)

4.4

  • Required
    • Lesson 4.4 Commentary
    • Textbook 1
      • Section 7.3: Costs in the Long Run (pp. 229–231)
    • Lesson 4.4 Exercise Questions (nongraded)

4.5

  • Required
    • Lesson 4.5 Commentary
    • Textbook 1
      • Section 7.3: Costs in the Long Run (pp. 229–239)
      • Section 7.5: Production With Two Outputs—Economies of Scope (pp. 245–247)
      • Section 7.6: Dynamic Changes in Costs—The Learning Curve (pp. 248–251)
    • Lesson 4.5 Exercise Questions (nongraded)
  • Real-Life Applications (Recommended)
    • Textbook 1
      • Example 7.4: Effect of Effluent Fees on Input Choices (p. 233)
      • Example 7.5: Reducing the Use of Energy (p. 237)
  • See the list of recent articles in the Lesson 4 module as real-life applications (recommended).

Group Project

  • Amazon.com, 2021, Wells, Danskin, and Ellsworth, HBR Case Course Pack
Assignments

Required

  • Lesson 4 Quiz
  • Group Project (See instructions in Group Project Module.)

Recommended

  • Lessons 3 and 4 Live Zoom Meeting With Instructor: Wednesday @ 8 p.m. (ET)
Lesson 5
Lesson 5 Profit Maximization in Competitive Markets
Readings

5.1

  • Required
    • Lesson 5.1 Commentary

5.2

  • Required
    • Lesson 5.2 Commentary
    • Textbook 1
      • Section 8.1: Perfectly Competitive Markets (pp. 267–269)
    • Lesson 5.2 Exercise Questions (nongraded)

5.3

  • Required
    • Lesson 5.3 Commentary
    • Textbook 1
      • Example 8.1: Condominiums Versus Cooperatives in New York City (pp. 271–272)
    • Lesson 5.3 Exercise Questions (nongraded)

5.4

  • Required
    • Lesson 5.4 Commentary
    • Textbook 1
      • Section 8.5: The Competitive Firm’s Short-Run Supply Curve (pp. 280–283)
      • Section 8.6: The Short-Run Market Supply Curve (pp. 283–288)
    • Lesson 5.4 Exercise Questions (nongraded)
  • Real-Life Applications (Recommended)
    • Textbook 1
      • Example 8.2: Short-Run Output Decision of an Aluminum Smelting Plant (p. 278)
      • Example 8.4: Short-Run Production of Petroleum Products (p. 282)
      • Example 8.5: Short-Run World Supply of Copper (p. 285)

5.5

  • Required
    • Lesson 5.5 Commentary
    • Textbook 1
      • Section 8.4: Choosing Output in the Short Run (pp. 275–278)
    • Lesson 5.5 Exercise Questions (nongraded)
  • Real-Life Application (Recommended)
    • Textbook 1
      • Example 8.3: Some Cost Considerations for Managers (p. 279)

5.6

  • Required
    • Lesson 5.6 Commentary
    • Textbook 1
      • Section 8.7: Choosing Output in the Long-Run (pp. 288–294)
    • Lesson 5.6 Exercise Questions (nongraded)

5.7

  • Required
    • Lesson 5.7 Commentary
    • Textbook 1
      • Section 8.8: The Industry’s Long-Run Supply Curve (pp. 294–300)
    • Lesson 5.7 Exercise Questions (nongraded)
  • Real-Life Applications (Recommended)
    • Textbook 1
      • Exercise 8.6: Constant-, Increasing-, and Decreasing–Cost Industries: Coffee, Oil, and Automobiles (p. 298)
      • Exercise 8.7: Supply of Taxicabs in New York
      • Exercise 8.8: Long-Run Supply of Housing
  • See the list of recent articles in the Lesson 5 module as real-life applications (recommended).
Assignments

Required

  • Lesson 5 Quiz
  • Discussion 2: Complete the initial post.
Lesson 6
Lesson 6 Effects of Tax and Trade Policies of Governments
Readings

6.1

  • Required
    • Lesson 6.1 Commentary
    • Textbook 1
      • Section 4.4: Consumer Surplus (pp. 130–132)
      • Producer Surplus in the Short Run (pp. 286–288)
      • Producer Surplus Versus Profit (pp. 293–294)
      • Section 9.1: Evaluating the Gains and Losses From Government Policies–Consumer and Producer Surplus
      • Section 9.4: Price Supports and Production Quotas (pp. 320–323)
    • Lesson 6.1 Exercise Questions (nongraded)
  • Real-Life Applications (Recommended)
    • Textbook 1
      • Example 4.6: Value of Clean Air (p. 132)
      • Example 9.3: Airline Regulation (p. 318)
      • Example 9.4: Supporting the Price of Wheat (p. 324)
      • Example 9.5: Why Can’t I Find a Taxi? (p. 326)

6.2

  • Required
    • Lesson 6.2 Commentary

6.3

  • Required
    • Lesson 6.3 Commentary
    • Textbook 1
      • Section 9.6: The Impact of a Tax or Subsidy (pp. 333–337)
    • Lesson 6.3 Exercise Questions (nongraded)
  • Real-Life Application (Recommended)
    • Textbook 1
      • Example 9.7: A Tax on Gasoline (p. 338)

6.4

  • Required
    • Lesson 6.4 Commentary
    • Textbook 1
      • Section 9.5: Import Quotas and Tariffs (pp. 329–331)
    • Lesson 6.4 Exercise Questions (nongraded)
  • Real-Life Application (Recommended)
    • Textbook 1
      • Example 9.6: The Sugar Quota (p. 331)
  • See the list of recent articles in the Lesson 6 module as real-life applications (recommended).
Assignments

Required

  • Discussion 2: Complete peer comments.
  • Lesson 6 Quiz

Recommended

  • Lessons 5 and 6 Live Zoom Meeting With Instructor: Wednesday @ 8 p.m. (ET)
Lesson 7
Lesson 7 Firm Profit Maximization in Monopoly Markets
Readings

7.1

  • Required
    • Lesson 7.1 Commentary
    • Textbook 1
      • Section 10.3: Sources of Monopoly Power (pp. 365–367)
    • Lesson 7.1 Exercise Questions (nongraded)

7.2

  • Required
    • Lesson 7.2 Commentary
    • Textbook 1
      • Section 10.1: Monopoly (pp. 348–358)
      • Section 10.2: Monopoly Power (pp. 358–362)
    • Lesson 7.2 Exercise Questions (nongraded)
  • Real-Life Applications (Recommended)

    • Example 10.1: Astra-Merck Prices Prilosec (p. 354)
    • Example 10.2: Elasticities of Demand for Soft Drinks (p. 360)
    • Example 10.3: Markup Pricing: Supermarkets to Designer Jeans (p. 362)
    • Example 10.4: The Pricing of Videos (p. 364)

7.3

  • Required
    • Lesson 7.3 Commentary
    • Textbook 1
      • Section 10.4: The Social Costs of Monopoly Power (pp. 367–372)
    • Lesson 7.3 Exercise Questions (nongraded)

7.4

  • Required
    • Lesson 7.4 Commentary
    • Textbook 1
      • Section 10.7: Limiting Market Power: The Antitrust Laws (pp. 379–383)
    • Lesson 7.4 Exercise Questions (nongraded)
  • Real-Life Applications (Recommended)

    • Textbook 1
      • Example 10.6: A Phone Call About Prices (p. 383)
      • Example 10.7: Go Directly to Jail. Don’t Pass Go (p. 383)
      • Example 10.8: The United States and European Union Versus Microsoft (p. 384)
      • Example 10.9: The Authors Debate Merger Policy (p. 385)
  • See the list of recent articles in the Lesson 7 module as real-life applications (recommended).
Assignments

Required

  • Lesson 7 Quiz
  • Group Project (See instructions in Group Project Module—Submit Peer Evaluation 1 for project progress.)
  • Exam 1: Available from 12:00 a.m. (ET), October 6, to 11:59 p.m. (ET), October 12. If there is any scheduling conflict, please contact the instructor.

Recommended

  • Exam 1 Practice
Lesson 8
Lesson 8 Price Discrimination and Dynamic Pricing for Firms With Market Power
Readings

8.1

  • Required
    • Lesson 8.1 Commentary
    • Textbook 1
      • Section 11.1: Capturing Consumer Surplus (pp. 392–393)
      • Section 11.2: Price Discrimination—First Degree Price Discrimination (pp. 393–396)
    • Lesson 8.1 Exercise Questions (nongraded)

8.2

  • Required
    • Lesson 8.2 Commentary
    • Textbook 1
      • Second-Degree Price Discrimination (p. 396)
      • Third-Degree Price Discrimination (pp. 396–400)
      • Section 11.3: Intertemporal Price Discrimination and Peak-Load Pricing (pp. 402–405)
      • Section 11.4: The Two-Part Tariff (pp. 406–409)
      • Section 11.5: Bundling (pp. 411–421)
    • Lesson 8.2 Exercise Questions (nongraded)
  • Real-Life Applications (Recommended)

    • Textbook 1
      • Example 11.1: The Economics of Coupons and Rebates (p. 400)
      • Example 11.2: Airline Fares (p. 401)
      • Example 11.3: How to Price a Best-Selling Novel (p. 405)
      • Example 11.4: Pricing Cellular Phone Services (p. 409)
      • Example 11.5: Complete Dinner Versus à la Carte: A Restaurant's Pricing Problem (p. 419)

8.3

  • Required
    • Lesson 8.3 Commentary
    • Textbook 1
      • Advertising (pp. 421–424)
      • Example 11.6: Advertising in Practice (p. 424)
    • Lesson 8.3 Exercise Questions (nongraded)
  • See the list of recent articles in the Lesson 8 module as real-life applications (recommended).
Assignments

Required

  • Lesson 8 Quiz
  • Discussion 3: Complete the initial post.

Recommended

  • Lessons 7 and 8 Live Zoom Meeting With Instructor: Wednesday @ 8 p.m. (ET)
Lesson 9
Lesson 9

Profit Maximization in Monopolistic Competition Markets and Oligopoly Markets

Readings

9.1

  • Required
    • Lesson 9.1 Commentary

9.2

  • Required
    • Lesson 9.2 Commentary
    • Textbook 1
      • Section 12.1: Monopolistic Competition (pp. 444–447)
    • Lesson 9.2 Exercise Questions (nongraded)
  • Real-Life Application (Recommended)

    • Textbook 1
      • Example 12.1: Monopolistic Competition in the Markets for Colas and Coffees (p. 447)

9.3

  • Required
    • Lesson 9.3 Commentary
    • Lesson 9.3 Exercise Questions (nongraded)

9.4

  • Required
    • Lesson 9.4 Commentary
    • Textbook 1
      • Section 12.2: Oligopoly (pp. 448–456)
      • Section 12.3: Price Competition (pp. 456–458)
      • Section 12.6: Cartels (pp. 469–472)
    • Lesson 9.4 Exercise Questions (nongraded)
  • Real-Life Applications (Recommended)

    • Textbook 1

      • Example 12.2: A Pricing Problem for Procter & Gamble (p. 459)
      • Example 12.6: The Authors Debate the Cartelization of Intercollegiate Athletics (p. 472)
      • Example 12.7: The Auto Parts Cartel (p. 473)

9.5

  • Required
    • Lesson 9.5 Commentary
    • Lesson 9.5 Exercise Questions (nongraded)
  • See the list of recent articles in the Lesson 8 module as real-life applications (recommended).
Assignments

Required

  • Lesson 9 Quiz
  • Discussion 3: Complete peer comments.
Lesson 10
Lesson 10 Game Theory for Production and Pricing Decisions of Firms
Readings

10.1

  • Required
    • Lesson 10.1 Commentary
    • Textbook 1
      • Section 12.4: Competition Versus Collusion: The Prisoner’s Dilemma (pp. 461–463)
      • Section 12.5: Implications of the Prisoner’s Dilemma for Oligopolistic Pricing (pp. 464–469)
    • Lesson 10.1 Exercise Questions (nongraded)
  • Real-Life Applications (Recommended)
    • Example 12.3: Procter & Gamble in a Prisoner’s Dilemma (p. 463)
    • Example 12.4: Price Leadership and Price Rigidity in Commercial Banking (p. 466)
    • Example 12.5: The Prices of College Textbooks (p. 467)

10.2

  • Required
    • Lesson 10.2 Commentary
    • Textbook 1
      • Section 13.1: Gaming and Strategic Decisions (pp. 479–481)
      • Section 13.2: Dominant Strategies (pp. 482–483)
    • Lesson 10.2 Exercise Questions (nongraded)
  • Real-Life Application (Recommended)
    • Textbook 1
      • Example 13.1: Acquiring a Company (p. 482)

10.3

  • Required
    • Lesson 10.3 Commentary
    • Textbook 1
      • Section 13.3: The Nash Equilibrium Revisited (pp. 484–490)
    • Lesson 10.3 Exercise Questions (nongraded)

10.4

  • Required
    • Lesson 10.4 Commentary
    • Textbook 1
      • Section 13.4: Repeated Games (pp. 490–492)
      • Section 13.5: Sequential Games (pp. 495–497)
      • Section 13.6: Threats, Commitments, and Credibility (pp. 497–501)
      • Section 13.7: Entry Deterrence (pp. 502–506)
    • Lesson 10.4 Exercise Questions (nongraded)
  • Real-Life Applications (Recommended)
    • Textbook 1
      • Example 13.2: Oligopolistic Cooperation in the Water Meter Industry (p. 493)
      • Example 13.3: Competition and Collusion in the Airline Industry (p. 494)
      • Example 13.4: Wal-Mart Stores’ Preemptive Investment Strategy (p. 501)
      • Example 13.5: Industry Transformation: Uber and Lyft (p. 506)
      • Example 13.6: Diaper Wars (p. 507)
  • See the list of recent articles listed in the Lesson 10 module.
Assignments

Required

  • Lesson 10 Quiz
  • Discussion 4: Complete the initial post.

Recommended

  • Lessons 9 and 10 Live Zoom Meeting with Instructor: Wednesday @ 8 p.m. (ET)
Lesson 11
Lesson 11 Investment and Financial Markets
Readings

11.1

  • Required
    • Lesson 11.1 Commentary
    • Textbook 1
      • Section 15.1: Stocks Versus Flows (p. 552)
      • Section 15.2: Present Discounted Value (pp. 553–555)
      • Section 15.4: The Net Present Value Criterion for Capital Investment Decisions (pp. 561–564)
    • Lesson 11.1 Exercise Questions (nongraded)
  • Real-Life Applications (Recommended)
    • Textbook 1
      • Example 15.1: The Value of Lost Earnings (p. 555)
      • Example 15.3: The Value of a New York City Taxi Medallion (p. 565)
      • Example 15.4: Capital Investment in the Disposable Diaper Industry (p. 568)

11.2

  • Required
    • Lesson 11.2 Commentary
    • Textbook 1
      • Section 15.5: Adjustments for Risk (pp. 565–567)

11.3

  • Required
    • Lesson 11.3 Commentary
    • Textbook 1
      • Capital Asset Pricing Model (pp. 567–568)
      • Section 15.9: How Are Interest Rates Determined? (pp. 580–582)
    • Lesson 11.3 Exercise Questions (nongraded)
  • Real-Life Applications (recommended)
    • Textbook 1
      • Example 15.2: The Yields on Corporate Bonds (p. 559)
  • See the list of recent articles in the Lesson 11 module as real-life applications (recommended).
Assignments

Required

  • Lesson 11 Quiz
  • Discussion 4: Complete peer comments.
Lesson 12
Lesson 12 The Macroeconomy, Economic Growth, and Business Cycles
Readings

12.1

  • Required
    • Lesson 12.1 Commentary

12.2

  • Required
    • Lesson 12.2 Commentary
    • Textbook 2
      • Section 10.1: Economy’s Income and Expenditure
      • Section 10.2: Measurement of GDP
      • Section 10.3: Components of GDP
      • Section 10.4: Real Versus Nominal GDP
    • Lesson 12.2 Exercise Questions (nongraded)

12.3

  • Required
    • Lesson 12.3 Commentary
    • Textbook 2
      • Section 12.1: Economic Growth Around the World
      • Section 12.2: Productivity: Its Role and Determinants
      • Section 12.3: Economic Growth and Public Policy
    • Lesson 12.3 Exercise Questions (nongraded)

12.4

  • Required
    • Lesson 12.4 Commentary
    • Textbook 2
      • Section 20.1: Three Key Facts About Economic Fluctuations
      • Section 20.3b: Why the Aggregate Demand Curve May Shift?
      • Section 20.4b: Why the Long-Run Aggregate Supply Curve May Shift?
    • Lesson 12.4 Exercise Questions (nongraded)
  • See the list of recent articles in the Lesson 12 module as real-life applications (recommended).
Assignments

Required

  • Lesson 12 Quiz
  • Exam 2: Available from 12:00 a.m. (ET), November 10, to 11:59 p.m. (ET), November 16. If there is any scheduling conflict, please contact the instructor.

Recommended

  • Lesson 11 and 12 Live Zoom Meeting With Instructor: Wednesday @ 8 p.m. (ET)
  • Exam 2 Practice
Lesson 13
Lesson 13 Macroeconomics: Inflation, Unemployment, and Interest Rates
Readings

13.1

  • Required
    • Lesson 13.1 Commentary
    • Textbook 2
      • Introduction Section of Chapter 17 (p. 338)
      • Section 17.1: The Classical Theory of Inflation (pp. 339–349)
      • Section 11.1: The Consumer Price Index (pp. 210–216)
      • Sections 11.2a: Dollar Figures From Different Times (pp. 217–219)
      • Section 11.2c: Real and Nominal Interest Rates (pp. 220–222)
      • Section 17.2: The Costs of Inflation (pp. 350–358)
    • Lesson 13.1 Exercise Questions

13.2

  • Required
    • Lesson 13.2 Commentary
    • Textbook 2
      • Section 15.1: Identifying Unemployment (pp. 290–297)
      • Section 15.2: Job Search (pp. 298–299)
      • Section 15.3: Minimum-Wage Laws (pp. 300–302)
    • Lesson 13.2 Exercise Questions

13.3

  • Required
    • Lesson 13.3 Commentary
    • Textbook 2
      • Section 13.1: Financial Institutions in the U.S. Economy (pp. 252–256)
      • Section 13.3: The Market for Loanable Funds (pp. 259–270)
    • Lesson 13.3 Exercise Questions
  • See the list of recent articles in the Lesson 13 module as real-life applications (recommended).
Assignments

Required

  • Lesson 13 Quiz
  • Group Project: Multiple deadlines—see instructions in the Group Project module.
    • Submit Final Report.
    • Complete Peer Evaluation 2 for Final Report.
Lesson 14
Lesson 14 Macroeconomics: Money, Monetary Policy, and Fiscal Policy
Readings

14.1

  • Required
    • Lesson 14.1 Commentary
    • Textbook 2
      • Section 16.1: The Meaning of Money (pp. 314–318)
      • Section 16.3: Banks and the Money Supply (pp. 320–325)
      • Section 16.4: The Fed’s Tools of Monetary Control (pp. 326–333)
    • Lesson 14.1 Exercise Questions (nongraded)

14.2

  • Required
    • Lesson 14.2 Commentary
    • Textbook 2
      • Section 21.1: How Monetary Policy Influences Aggregate Demand (pp. 446–455)
      • Section 21.2: How Fiscal Policy Influences Aggregate Demand (pp. 455–461)
      • Section 21.3: Using Policy to Stabilize the Economy (pp. 462–466)
    • Lesson 14.2 Exercise Questions (nongraded)
  • See the list of recent articles in the Lesson 14 module as real-life applications (recommended).
Assignments

Required

  • Lesson 14 Quiz

Recommended

  • Lessons 13 and 14 Live Zoom Meeting with Instructor: Wednesday @ 8 p.m. (ET)
Lesson 15
Lesson 15 International Trade, International Finance, and Foreign Exchange
Readings

15.1

  • Required
    • Lesson 15.1 Commentary
    • Textbook 2
      • Section 18.1: The International Flows of Goods and Capital (pp. 364–373)
      • Section 18.2: The Prices of International Transactions: Real and Nominal Exchange Rates (pp. 374–377)
      • Section 18.3: A First Theory of Exchange-Rate Determination: Purchasing-Power Parity (pp. 377–382)
    • Lesson 15.1 Exercise Questions
  • See the list of recent articles in the Lesson 15 module as real-life applications (recommended).
Assignments

Required

  • Lesson 15 Quiz
Lesson 15
Final Exam  
Readings
  • None
Assignments

Required

  • Final Exam: Available from 12:00 a.m. (ET), Saturday, to 11:59 p.m. (ET), Tuesday. If there is any scheduling conflict, please contact the instructor.

Recommended

  • Final Exam Practice

Intent to Graduate

Note: If you are planning to graduate this semester, please communicate your intent to graduate to your instructor. This will alert your instructor to the need to submit your final grade in time to meet the published graduation deadlines. For more information about graduation policies and deadlines, please refer to Graduation at the Chaiken Center for Student Success.

Academic Integrity

According to Penn State policy G-9: Academic Integrity , an academic integrity violation is “an intentional, unintentional, or attempted violation of course or assessment policies to gain an academic advantage or to advantage or disadvantage another student academically.” Unless your instructor tells you otherwise, you must complete all course work entirely on your own, using only sources that have been permitted by your instructor, and you may not assist other students with papers, quizzes, exams, or other assessments. If your instructor allows you to use ideas, images, or word phrases created by another person (e.g., from Course Hero or Chegg) or by generative technology, such as ChatGPT, you must identify their source. You may not submit false or fabricated information, use the same academic work for credit in multiple courses, or share instructional content. Students with questions about academic integrity should ask their instructor before submitting work.

Students facing allegations of academic misconduct may not drop/withdraw from the affected course unless they are cleared of wrongdoing (see G-9: Academic Integrity ). Attempted drops will be prevented or reversed, and students will be expected to complete course work and meet course deadlines. Students who are found responsible for academic integrity violations face academic outcomes, which can be severe, and put themselves at jeopardy for other outcomes which may include ineligibility for Dean’s List, pass/fail elections, and grade forgiveness. Students may also face consequences from their home/major program and/or The Schreyer Honors College.

How Academic Integrity Violations Are Handled
World Campus students are expected to act with civility and personal integrity; respect other students' dignity, rights, and property; and help create and maintain an environment in which all can succeed through the fruits of their own efforts. An environment of academic integrity is requisite to respect for oneself and others, as well as a civil community.

In cases where academic integrity is questioned, the Policy on Academic Integrity indicates that procedure requires an instructor to inform the student of the allegation. Procedures allow a student to accept or contest a charge. If a student chooses to contest a charge, the case will then be managed by the respective college or campus Academic Integrity Committee. If that committee recommends an administrative sanction (Formal Warning, Conduct Probation, Suspension, Expulsion), the claim will be referred to the Office of Student Accountability and Conflict Response.

All Penn State colleges abide by this Penn State policy, but review procedures may vary by college when academic dishonesty is suspected. Information about Penn State's academic integrity policy and college review procedures is included in the information that students receive upon enrolling in a course. To obtain that information in advance of enrolling in a course, please contact us by going to the Contacts & Help page .

Student Success and Support Resources

Chaiken Center

The Chaiken Center for Student Success at Penn State World Campus guides you to the right resources and support you need–when you need them–along your academic journey. You can connect with peers and support teams to find direction, information, and networking opportunities. On the website, you'll find information and resources on many aspects of being a World Campus student:

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Following are some key resources.

Student Disability Services

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In order to receive consideration for reasonable accommodations, you must contact the appropriate disability services office at the campus where you are officially enrolled, participate in an intake interview, and provide documentation. If the documentation supports your request for reasonable accommodations, your campus's disability services office will provide you with an accommodation letter. Please share this letter with your instructors and discuss the accommodations with them as early in your courses as possible. You must follow this process for every semester that you request accommodations.

Counseling and Psychological Services

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Military Student Information

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Additional Policies

Privacy Notice

In order to protect your privacy, course access is limited to those individuals who have direct responsibility for the quality of your educational experience. In addition to the instructor, a teaching assistant or college administrator may be provided access in order to ensure optimal faculty availability and access. World Campus technical staff may also be given access in order to resolve technical support issues.

Student Responsibilities and Conduct
  1. Students are responsible for online course content, taking notes, obtaining other materials provided by the instructor, taking tests (if applicable), and completing assignments as scheduled by the instructor.  As a general rule, students should plan on logging into the course at least three times per week and spending at least three hours per course credit per week on the course, e.g., if the course is three credits, the student should plan on spending at least 9-12 hours per week on the course, just as they would in a residence course.
  2. Students are responsible for keeping track of changes in the course syllabus made by the instructor throughout the semester.
  3. Students are responsible for monitoring their grades.
  4. Students must contact their instructor (and teammates when working on any collaborative learning assignments) as soon as possible if they anticipate missing long periods of online time due to events such as chronic illnesses, death in the family, business travel, or other appropriate events. The instructor will determine the minimal log on time and participation required in order to meet course responsibilities. In the event of other unforeseen conflicts, the instructor and student will arrive at a solution together.
    1. Instructors may require students to provide documentation with the class absence form or other written notification for events such as illness, family emergency, or a business-sanctioned activity.
    2. Conflicts with dates on which examinations or assignments are scheduled must be discussed with the instructor or TA prior to the date of the examination or assignment.
  5. Students are responsible for following appropriate netiquette (network etiquette) when communicating with their instructor and classmates. For reference, see the Academic Success Kit.
  6. Behaviors that disrupt other students’ learning are not acceptable and will be addressed by the instructor.
  7. For severe and chronic problems with student disruptive behavior, the following will be applied for resolution:
    1. Senate Committee on Student Life policy on managing classroom disruptions: Office of Student Accountability and Conflict Response.
    2. Penn State Values.
Report Bias

Penn State takes great pride to foster a diverse and inclusive environment for students, faculty, and staff. Acts of intolerance, discrimination, or harassment due to age, ancestry, color, disability, gender, gender identity, national origin, race, religious belief, sexual orientation, or veteran status are not tolerated and can be reported through Educational Equity via the Report Bias webpage.



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