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School of Management
The University of Texas at Dallas
Course Information
1. Course Description
Economics is about the ordinary business of life and it is also the basis for many
courses in Business. It also contains much of the conceptual material necessary for an
intelligent understanding of business life. The approach in this course to the teaching
of economic principles is to try to ensure that students acquire the necessary
conceptual apparatus in a way that is both challenging and interesting. This is done by
attempting to ensure that the material is presented in a lively, interesting and relevant
fashion. We will constantly use current real world examples to illustrate the
application of concepts.
Catalogue Description.
Business Economics (3 semester hours) Foundations of the economic analysis of
business problems, with special emphasis on the function and determination of
market prices in production and consumption. Supply and demand, price theory,
production theory, trade theory with reference to the global economy, the effects of
tax and other policies in the economy, and essential elements of the banking system
and monetary policy are addressed.
2. Prerequisites: MATH 5304 or equivalent.
3. Learning objectives:
I would like students to take away from this course at least the following:
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4. Instructor Information
Email: plewin@utdallas.edu
Phone: 972-883-2729
Office: SOM 3.223, UTD
I was born and grew up in Johannesburg, South Africa. I received a BA (honors) degree
in Economics and History from the University of the Witwatersrand in Johannesburg in
1969. In September 1972, after teaching at the business school at that University, I left
to study at the University of Chicago. I received a Ph.D. in Economics from the
University of Chicago in 1979. I was fortunate to have as teachers at least four Nobel
prize winners. In January 1979 I moved with my family to Dallas, where we have lived
ever since. After seven years as an academic, I tried my hand in an entrepreneurial
venture and joined a friend in a startup business called Soft Warehouse. Today it is
called CompUSA. I was one of its founding shareholders. It was a difficult but very
educational experience. In 1992 I decided to return to academics and have been with
the UTD School of Management since 1997. I love my job. I have a passion for teaching
and for economics.
My wife and I were married in December 1969. We have four children and two
grandchildren.
5. Course Materials
The official text book for this course is Business Economics by Steven E. Landsburg and
N. Gregory Makiw (Southwestern: 2005) ISBN # 0-324-33890-2. (It is a custom book
from the publisher.)
Ideas in economics can be learned from multiple sources. I will post supplementary
material to complement the text and the lectures. In edition any basic text may help
solidify the fundamentals and add to insight and understanding. A good example is
Economics by Walter J. Wessels (4th edition is the latest, any will do), Barron’s 2006,
Available here.
Textbooks and other materials can be often be ordered online through, MBS Direct
Virtual Bookstore or Off-Campus Books web ordering site. They are also available
when in stock at UTD Bookstore and Off-Campus Books.
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Communications
I make extensive use of WebCT in all of my courses. You should monitor the course on
WebCT frequently for announcements, discussions and supplementary material
Interaction with Instructor: I will communicate with students mainly through the
Discussion Boards and Course Announcements. Students may send personal concerns
or questions to me using plewin@utdallas.edu. I will reply to student emails or
Discussion board messages within 3 working days under normal circumstances.
Interaction with other students: You may communicate and interact with other
students using either email, discussion board or the Collaboration tool shown on the
course menu.
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Course Outline/Schedule
Test 1 (covers lessons 1-3) 25% June 19 - (12 am) – June 21 (11:59 pm) Online - 1 ho
Test 2 (covers lessons 4-5) 25% July 10 (12 am) – July 12 (11:59 pm) Online - 1 hour t
Test 3 (final, comprehensive) 50% August 11 in class normal time - 2 hour time limit
The following are the grades that are possible to earn in this class.
The actual grade distribution for each test will be determined by the total class
performance. I will publish a grade distribution, linking scores to grades, after each test
and for the course as a whole.
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The University of Texas System and The University of Texas at Dallas have rules and
regulations for the orderly and efficient conduct of their business. It is the
responsibility of each student and each student organization to be knowledgeable
about the rules and regulations which govern student conduct and activities. General
information on student conduct and discipline is contained in the UTD publication, A
to Z Guide, which is provided to all registered students each academic year.
The University of Texas at Dallas administers student discipline within the procedures
of recognized and established due process. Procedures are defined and described in
the Rules and Regulations, Board of Regents, The University of Texas System, Part 1,
Chapter VI, Section 3, and in Title V, Rules on Student Services and Activities of the
university’s Handbook of Operating Procedures. Copies of these rules and regulations
are available to students in the Office of the Dean of Students, where staff members
are available to assist students in interpreting the rules and regulations (SU 1.602,
972/883-6391).
A student at the university neither loses the rights nor escapes the responsibilities of
citizenship. He or she is expected to obey federal, state, and local laws as well as the
Regents’ Rules, university regulations, and administrative rules. Students are subject
to discipline for violating the standards of conduct whether such conduct takes place
on or off campus, or whether civil or criminal penalties are also imposed for such
conduct.
The faculty expects from its students a high level of responsibility and academic
honesty. Because the value of an academic degree depends upon the absolute
integrity of the work done by the student for that degree, it is imperative that a
student demonstrate a high standard of individual honor in his or her scholastic work.
The University of Texas at Dallas has policies and discipline procedures regarding
scholastic dishonesty. Detailed information is available on the Scholastic Dishonesty
web page. All students are expected to maintain a high level of responsibility with
respect to academic honesty. Students who violate University rules on scholastic
dishonesty are subject to disciplinary penalties, including the possibility of failure in
the course and/or dismissal from the University. Since such dishonesty harms the
individual, all students and the integrity of the University, policies on scholastic
dishonesty will be strictly enforced.
Scholastic dishonesty includes, but is not limited to, statements, acts or omissions
related to applications for enrollment or the award of a degree, and/or the submission
as one’s own work or material that is not one’s own. As a general rule, scholastic
dishonesty involves one of the following acts: cheating, plagiarism, collusion and/or
falsifying academic records. Students suspected of academic dishonesty are subject to
disciplinary proceedings.
Plagiarism, especially from the web, from portions of papers for other classes, and
from any other source is unacceptable and will be dealt with under the university’s
policy on plagiarism (see general catalog for details). This course will use the
resources of turnitin.com, which searches the web for possible plagiarism and is over
90% effective.
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Email Use
The University of Texas at Dallas recognizes the value and efficiency of communication
between faculty/staff and students through electronic mail. At the same time, email
raises some issues concerning security and the identity of each individual in an email
exchange. The university encourages all official student email correspondence be sent
only to a student’s U.T. Dallas email address and that faculty and staff consider email
from students official only if it originates from a UTD student account. This allows the
university to maintain a high degree of confidence in the identity of all individual
corresponding and the security of the transmitted information. UTD furnishes each
student with a free email account that is to be used in all communication with
university personnel. The Department of Information Resources at U.T. Dallas provides
a method for students to have their U.T. Dallas mail forwarded to other accounts.
The administration of this institution has set deadlines for withdrawal of any college-
level courses. These dates and times are published in that semester's course catalog.
Administration procedures must be followed. It is the student's responsibility to
handle withdrawal requirements from any class. In other words, I cannot drop or
withdraw any student. You must do the proper paperwork to ensure that you will not
receive a final grade of "F" in a course if you choose not to attend the class once you
are enrolled.
Procedures for student grievances are found in Title V, Rules on Student Services and
Activities, of the university’s Handbook of Operating Procedures.
Copies of these rules and regulations are available to students in the Office of the
Dean of Students, where staff members are available to assist students in interpreting
the rules and regulations.
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Incomplete Grade Policy
As per university policy, incomplete grades will be granted only for work unavoidably
missed at the semester’s end and only if 70% of the course work has been completed.
An incomplete grade must be resolved within eight (8) weeks from the first day of the
subsequent long semester. If the required work to complete the course and to
remove the incomplete grade is not submitted by the specified deadline, the
incomplete grade is changed automatically to a grade of F.
Disability Services
Essentially, the law requires that colleges and universities make those reasonable
adjustments necessary to eliminate discrimination on the basis of disability. For
example, it may be necessary to remove classroom prohibitions against tape recorders
or animals (in the case of dog guides) for students who are blind. Occasionally an
assignment requirement may be substituted (for example, a research paper versus an
oral presentation for a student who is hearing impaired). Classes enrolled students
with mobility impairments may have to be rescheduled in accessible facilities. The
college or university may need to provide special services such as registration, note-
taking, or mobility assistance.
It is the student’s responsibility to notify his or her professors of the need for such an
accommodation. Disability Services provides students with letters to present to
faculty members to verify that the student has a disability and needs
accommodations. Individuals requiring special accommodation should contact the
professor after class or during office hours.
These descriptions and timelines are subject to change at the discretion of the
Professor.
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