ECON1019A Course Outline

Microeconomics

Students are advised to retain course outlines for future use in support of applications for
employment or transfer of credits.
Instructor Room
Soucy, Melyssa A1011
Availability
By Appointment
Email
[email protected]

Program Title
_BMK Business Administration: Marketing 2023 - 2025 (Fall Intake)
Delivering Campus Delivery Mode
NBCC Fredericton Campus Virtual Delivery
Period of Delivery Classroom
Winter 2025 (From2025-01-06to2025-02-21) Teams
Course Schedule
Wednesday: 10:30am - 12:20pm
Friday: 8:30am - 10:20am
Withdrawal date for no record on the student transcript
2025-01-15
Credits Grading Basis Pass mark
2 Graded 60%
Description
This course is designed to introduce the principles of economics and the economic behaviour of
individuals and businesses. The course examines the roles of business, individuals, and government in
the market system. Course topics also include the supply and demand model, market structures, price
elasticity and regulations.

Course Outcome
Examine the economic behaviour of individuals and businesses.
Competencies
The following competencies will be achieved:

Page 1 of 6
1. define the economic problem of scarcity and choice for businesses and individuals
2. examine the language of microeconomics
2.1. distinguish between economic resources of land, capital, labour, and enterprise
2.2. identify the difference between capital and consumer goods
3. establish a link between business objectives of effectiveness and efficiency
3.1. graph a production possibilities curve
3.2. analyze a production possibilities curve to determine opportunity costs incurred by a business
3.3. identify points of efficiency on a production possibilities curve
4. apply the concepts of supply and demand
4.1. define the change in quantity demanded and/or quantity supplied due to a change in price
4.2. graph a demand and supply curve using a quantity demanded and quantity supplied schedule
4.3. analyze changes to market equilibrium due to changes in price
4.4. analyze a shortage or surplus in a market due to a price change using a data chart and graph
4.5. explain how the market corrects itself when there is a surplus or shortage
4.6. explain the effects that changes in the determinants of demand and supply have on demand and
supply curves and market equilibrium using data charts and graphs
5. explain how government policy can affect demand and supply of products and employment
5.1. define price floors and ceilings, quotas, and excise taxes
5.2. interpret the results of government interventions on market equilibrium using graphs and data
6. analyze the elasticity of demand
6.1. define elasticity of demand
6.2. calculate price, income, and cross elasticity coefficients
6.3. calculate the change in total revenue of elastic and inelastic products when a firm changes their
price
7. analyze the market structures in Canada
7.1. compare pricing, output, and maximization of profits
7.2. identify possible government interventions in markets to help allocate resources, regulate prices,
and prohibit certain types of behaviour
8. analyze economies of scale
8.1. examine the theory of production in the short run and long run
8.2. identify the point of the law of diminishing returns by using marginal products
8.3. calculate total and average costs of production
8.4. identify when a firm is experiencing economic capacity, economies, diseconomies to scale and
constant returns to scale
Essential Skills
Participation in the learning activities related to this course will reinforce the development of essential
skills such as the following:
1. Be Aware of Global and Cultural issues
1.1. Support competence, equality and diversity
2. Manage Information
2.1. Access, analyze, and apply knowledge and skills from scientific disciplines or the humanities
3. Think and Solve Problems
3.1. Readily use science, technology, and mathematics as ways to think, gain, and share knowledge,
solve problems, and make decisions
Activities / Assessments

Participation Weight(%)
SUCCESS
The only way to analyze a number of economic policies in Microeconomics is drawing a graph! Students are
strongly encouraged to be engaged in the learning and participate and practice during class and through their
assessments. Attending class lectures, engaging in class discussions, and actively completing exercises and
assignments as new content is covered will be crucial to your success in this course.

Page 2 of 6
Assignment (40 %) Weight(%)
INDIVIDUAL ASSIGNMENTS
There will be 4 equally weighted individual assignments where students will apply concepts discussed in
class. Students will complete assignment work as it is covered during class discussions; however, personal
time may be required to complete the assignment questions. Assignments will be of a practical nature and will
require students apply material covered in class.

Assignments are due by 11:50pm on the specified due date and are to be submitted via the Brightspace
DropBox.
Assignment #1: The Economic Problem 10
This assignment will cover material from Chapter 1. Students will be assessed on their ability to demonstrate
the following competencies: 1-3

Tentative due date: January 16

Assignment #2: Price Elasticity of Demand 10

This assignment will cover material from Chapter 3 & 4. Students will be assessed on their ability to
demonstrate the following competencies: 5 & 6.

Tentative due date: January 30

Assignment #3: Economies of Scale 10

This assignment will cover material from Chapter 6 & 7. Students will be assessed on their ability to
demonstrate the following competency: 8

Tentative due date: February 7

Assignment #4: Market Structures 10

This assignment will cover material from Chapter 8, 10, & 11. Students will be assessed on their ability to
demonstrate the following competency: 7

Tentative due date: February 19

Quiz (40 %) Weight(%)

QUIZ
There will be 4 equally weighted quizzes delivered through Brightspace that will allow students the
opportunity to apply and reinforce the economic models and concepts introduced in class.

Students will have 1 hour and 3 attempts for each quiz.

Quizzes are due by 11:50pm on the specified due date.

Quiz #1: The Economic Problem 10
This quiz will assess the student’s ability to determine the importance of economics as it relates to the
business community, analyze the roles of businesses, households, and government in the Canadian
economy and how the market system operates in Canada, and relate business objectives to effectiveness
and efficiency. It will cover material from Chapter 1.

Students will be assessed on their ability to demonstrate the following competencies: 1-3

Tentative date: January 10-13

Page 3 of 6
Quiz #2 - Supply & Demand 10
This quiz will assess the student’s ability to apply concepts of supply and demand. It will cover material from
Chapter 2.

Students will be assessed on their ability to demonstrate the following competency: 4

Tentative date: January 17-20

Quiz #3 - Economies of Scale 10

This quiz will assess the student’s ability to assess the realities of economies of scale as the concept relates
to Canadian business. It will cover material from Chapter 6.

Students will be assessed on their ability to demonstrate the following competency: 8

Tentative date: January 31 - February 3

Quiz #4 - Market Structures 10
This quiz will assess the student’s ability to compare market structures, include monopoly, oligopoly, and
perfect competition. It will cover material from Chapter 8, 10, & 11.

Students will be assessed on their ability to demonstrate the following competency: 7

Tentative date: February 14-18

Exercise (20 %) Weight(%)

In-Class Group Exercises
There will be 2 equally weighted in-class group exercises to be completed and submitted by the end of the
class period. Students who do not attend class during a group exercise and fail to notify the instructor before
class will receive a grade of zero.

Active participation and contribution are required from all group members. If students do not actively
participate or contribute, they may receive a grade of zero on the assessment.

Exercise #1: Supply & Demand 10

In groups of 2 or 3, students will apply the concepts of supply and demand. Further details to be provided on
Brightspace.

Students will be assessed on their ability to demonstrate the following competency: 4

Tentative date: January 22

Exercise #2: Price Elasticity of Demand 10

In groups of 2 or 3, students will analyze the elasticity of demand. Further details to be provide on
Brightspace.

Students will be assessed on their ability to demonstrate the following competency: 6

Tentative date: January 29

Other Weight(%)

Page 4 of 6
ACADEMIC INTEGRITY
NBCC is committed to the highest standards of academic integrity and honesty. Students are urged to
become familiar with and uphold Policy 1111 Academic Integrity. Plagiarism detection tools such as Turnitin
and Grammarly are integrated into Brightspace and may be used. Remote proctoring using Respondus
Monitor and Lockdown Browser, may also be used to ensure academic integrity of assessments.
EXPECTATIONS
Due Dates
All course dates are tentative and may be subject to change.

Missed Evaluations
Students must complete practical work, assignments and Brightspace quizzes on time. Missed or late
assignments will receive a grade of zero unless instructor has given prior approval (see Missed Evaluation
Policy)

Attendance and Punctuality

This course requires students to attend classes virtually on Wednesday from 10:30am-12:20pm and Friday
from 8:30am-10:20am as per posted class schedule. When a student is late or absent from class sessions, it
is the student's responsibility to communicate with the instructor in a timely manner.
Attendance will be taken.

Student Conduct
Individuals are expected to contribute to a positive and respectful learning environment. Unprofessional and
inappropriate behaviour is not acceptable at the college.
GENERATIVE AI TOOLS
Restricted: Use of an AI Generator such as ChatGPT, iA Writer, MidJourney, DALL-E, etc., is prohibited
unless the instructor notes otherwise. The information derived from these tools is based on previously
published materials. Therefore, using these tools without proper citation constitutes plagiarism. Additionally,
be aware that the information derived from these tools may be inaccurate or incomplete. All work submitted
must be your own. Any assignment found to have been plagiarized or used unauthorized AI tools may receive
a zero or be reported for academic misconduct.

Required Resources
Students will require the following resources for this course:

Textbook: Principles of Microeconomics, 11e

Windows-based laptop, calculator and note taking materials (pen, pencil, binder, etc.) are also vital to
succeed in this course.
Bibliography
Book: Sayre, Morris. Principles of Microeconomics 11e, Canada, McGraw Hill, 2024, Page(s), ISBN :
9781265801922.

NBCC is committed to the highest standards of academic integrity and honesty. Students are urged to become familiar with and uphold
NBCC’s policy concerning Academic Integrity. Plagiarism detection tools such as Turnitin and Grammarly are integrated into Brightspace
and may be used.

Remote proctoring using Respondus Monitor and LockDown Browser, may also be used to ensure academic integrity of assessments.
Alternate testing arrangements may be arranged in advance (i.e. live proctoring on campus).

Approved Electronically Date

Shane Somerville 2024-12-19

Page 5 of 6
NBCC promotes transparency in the application of its policies and procedures. Subsequently, numerous policies that apply to students can
be viewed at https://documents.nbcc.ca/. Policies and procedures are regularly reviewed and updated. Please be sure to check the site
regularly for the most up-to-date document.

Course Delivery and Evaluation of Learning NBCC is committed to ensuring quality delivery and evaluation methods in its courses and
programs.

Grading and Academic Recognition NBCC uses a grading/credit system to indicate the performance of students and how that relates to a
passing grade in courses, and how course grades translate to a transcript of marks that reflects the history of the student’s academic
progress.

Academic Integrity NBCC is committed to promoting academic integrity throughout the college community. Academic honesty and integrity
are fundamental expectations and requirements of students as they assume responsibility for their learning and actions.

Student Code of Conduct NBCC believes that learning in an adult education setting offers holistic development of the learner. A climate of
collaboration and respect of self, of others and of established rules and regulations is the setting by which an effective environment of
learning is established.

Access to Accessibility Services NBCC will provide reasonable accommodation to students with disabilities in order to promote academic
success. If you feel you may require accommodations or other forms of support while at NBCC, please talk to a counsellor at your campus.

Supplemental Evaluation Measures NBCC is committed to providing supports and assisting students in achieving success in their chosen
course of studies and recognizes that there are circumstances when an unsuccessful grade may not reflect student learning. A
Supplemental Evaluation Measure may be offered when a student receives an unsuccessful grade in a credit course.

College Office of Research Enterprise (CORE) NBCC encourages the integration of College Office of Research Enterprise (CORE) into
course activities to enrich the learning experience. If research ideas and activities involve human subjects, please refer to the Tri-Council
Policy on research ethics.

For Administrative Use Only

Version 91218 SIMS Class Number

© 2024 Copyright

Page 6 of 6