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Course Syllabus  (Summer  2002)    Available on line at:

Economics 101 
Survey of  Economics

Office Hours: 

Dr. Tom Andrews
313 Anderson Hall
West Chester PA 19383
office  610-436-1082
Fax   610-436-2592
E-mail :

Text   Required: Issues in economics today  Robert C. Guell

Objective: This course is designed to provide an introduction to basic economic principles. Students successfully completing this course should have a basic understanding of economic issues, , and be able to provide coherent written economic analysis of economic problems found in the newspaper.  The department of economics and finance promotes the general education goals of West Chester University.   Through its general education courses  the department seeks to: teach quantitative and mathematical methods, develop critical and analytical thinking; and promote life-long learning and citizenship.

Course Requirements: Students are required to take at least two, but no more than four examinations (including the final), and complete any homework that is assigned.  Exams are weighted equally, and collectively the homework will count as one exam. There will most likely be 3 exams and 4 homework assignments.  If that is the case each exam will count 25%  and each homework will be 6.25% of your final grade.   Homework assignments must be typed and free of grammatical and typographical errors. Under no circumstances will homework be accepted late. If you miss the class when homework is due, the assignment can be submitted by e-mail, regular mail (postmarked by due date), or fax etc. Students should read upcoming chapters before class.  Homework may also consist of group assignments, papers or presentations.

Daily quizzes will be given based on the terms listed in the course outline and or topics from previous lectures one point will be awarded for correct definitions.  Occasionally points will be rewarded for in-class exercises devoted to solving economic problems.  Under no circumstances will students be allowed to make up missed quizzes or in-class exercises. These points will be added to your test score.  There will be no other "curve."  Make-up exams will only be given in the case of a well documented (i.e. doctor's note) emergency.

Attendance: Attendance is strongly suggested. In addition, since quizzes will be given at the beginning of class, students should make every effort to be punctual.  Quizzes also serve as your attendance record.  If you come to class late (missing the quiz), you are responsible for submitting a quiz sheet immediately after class to indicate your attendance.  Students are responsible for all material covered during class. If a class is missed, the material should be obtained from another student. Students with poor attendance rarely succeed. In the event that a class is canceled by the instructor, you will be notified by a note posted on the classroom door and signed by the department chair. If there is any uncertainty, check with the department secretary in room 309.  For every class missed beginning with the third a student's final grade will fall one letter grade ( i.e. A- to B+)

Miscellaneous: Office hours are open to all students, for discussion of any topic. No appointment is necessary. If you're not clear on something, or not sure if your not sure - COME SEE ME! also, we at West Chester University wish to make accommodations for persons with disabilities. Please make you needs known by contacting me and/or the Office of Services for Students with Disabilities at ext. 3217. Sufficient notice is needed in order to make the accommodations possible. The University desires to comply with the ADA of 1990.”  Disruptive student Policy.

The Writing Center (Main Hall 203) provides free tutoring and editorial advice. Spring 2001 Hours
Grammar Rules Link         Research paper guide

Course Outline:   Dates are tentative







Introduction to Economics: Scarcity and Opportunity cost





Economics, Opportunity Cost, Scarce, resource, Efficiency,  Production Possibilities Frontier, marginal benefit, marginal cost, postitive and normative analysis







S&D tutor


Quantity Demanded, Demand, Quantity Supplied, Supply, Ceteris Paribus, Equilibrium, Determinants of Demand, Determinants of Supply,Surplus, Shortage,

Elasticity and Cosumer and producer surplus 3


31-42   Elasticity , price elasticity of demand, income elasticity of demand, elastic, inelastic.  Consumer Surplus, Producer Surplus, Deadweight Loss
Present Value 4
43-49   interest rate, present value.
Production cost and revenue 5


50-60   Revenue, Marginal Revenue, Cost, Profit, Diminishing Returns, Fixed inputs, fixed costs, variable inputs variable costs, marginal cost, average total cost

Competition and Monopoly




cost and profit maximization tutorial 

Perfect Competition, Monopoly, normal profit, economic profit, Short-run, Long-run, Monopolistic Competition, Oligopoly, Collusion, Cartels





Gross Domestic Product, consumer price index, inflation rate, Real GDP, Unemployment rate, Frictional, Seasonal, Structural, Cyclical unemployment, Business Cycle.  Monetary Policy, Fiscal Policy

Aggregate Demand and Supply





Aggregate Demand, Aggregate Supply, Determinants of aggregate demand, Determinants of Aggregate Supply,  Demand-Pull Inflation, Cost Push inflation

Exam I   6/11


Issues   under construction



Federal spending




crowding out
Deficits, surpluses and debt 10 103-110   Budget deficit, Budget Surplus, on-budget, off budget
Fiscal policy 11      
Monetary Policy 12      


Dependence on Foreign Oil   341-345


Education 25 223-233

 no child left behind

Social security reform    

 The president's commission to reform social security


poverty 26