5/10/24, 7:42 PM CECN104, Course Outline

Course Description
This is an introductory course to economics. This course is concerned with basic concepts of demand
and supply, the theory of the firm, and distribution of income. It includes a study of business behaviour
and decision making under various market conditions: pure competition, oligopoly, monopolistic
competition, monopoly.

Course Focus and Scope

This course provides students with an introductory understanding of economics at the microeconomic
level. Students will develop a basic understanding of demand and supply, the theory of the firm, income
distribution, and business behaviour and decision-making under various market conditions.

There are four main themes to this course:

Supply and demand

Consumer behaviour
Theory of the firm
Market types

As a result of successfully completing this course, students will have developed the necessary
knowledge base to proceed to the next level of microeconomics courses.

Course Learning Outcomes

Upon the successful completion of this course, students should be able to:

Describe basic principles of microeconomics including demand and supply, consumer behaviour,
and the theory of the firm.
Analyze business behaviour and decision-making under various market conditions.
Analyze and describe basic economic models such as market equilibrium determination.
Apply basic problem-solving techniques used in microeconomics, including techniques to calculate
elasticity; determine the market equilibrium; and compute total, marginal, and average cost and
product.
Describe how supply and demand determines prices in a competitive market and determine the
effects of changing market conditions such as government intervention.
Describe the concept of consumer surplus, producer surplus, and deadweight loss, and explain
how these concepts further our understanding of how markets operate.
Describe the principles underlying consumer demand and consumer choice under uncertainty.
Describe the theory of the firm and analyze firm production and costs.
https://de.torontomu.ca/de_courses/templates/m/?c=3C8A49145944FED2BBCAADE178A426C4&m=1&p=248499 1/23
5/10/24, 7:42 PM CECN104, Course Outline

Describe how firms choose profit maximizing rates of production and its impact on the market.
Analyze the supply and demand model for a competitive market.
Define market power and describe how firms can take advantage of their market power.
Define several types of markets where the number of firms is limited: oligopoly and monopolistic
competition.
Explain a firm's demand for factors of production and determine how a competitive firm selects its
optimal combination of factors.

Instructional and Learning Strategies

Content
This asynchronous course is delivered online rather than as a traditional in-class model of delivery.
However the course is structured and follows a week-by-week schedule. The online model offers
flexibility and convenience for learners while at the same time following a scheduled progression for
completion.

The course content is organized over a series of 12 weekly online modules. Module materials are topic-
focused and may include readings complemented by concise online notes. Various media types may be
incorporated to help engage learners and to support meaning-making of key concepts presented in
course modules. Non-graded self-assessments may also be incorporated to help learners confirm the
knowledge and understanding they have developed and to help prepare for course evaluations.

Instruction
Although this course is delivered asynchronously, instructors lead and manage it to completion.
Instructors will apply various strategies to promote learner success which may include: direct instruction
as necessary, establishing an early rapport with learners, leveraging expertise in the subject matter,
providing timely feedback on learner progression and assessments, conducting virtual office hours, as
well as other strategies as applicable. Course instructors are free to incorporate other instructional
strategies that promote active engagement and collaboration to help learners succeed.

Learning
Learners are expected to be actively and persistently engaged in the course, and to take responsibility
for managing their preferred learning process. Learners need to devote sufficient quality time to their
studies and demonstrate a pattern of regularity with studying the content and completion of weekly
module activities.

Learners are encouraged to leverage contact with the course instructor and with peers when
encountering challenges in understanding content. Completion of all weekly assigned course work,
graded or not, is a key element of learner success.

https://de.torontomu.ca/de_courses/templates/m/?c=3C8A49145944FED2BBCAADE178A426C4&m=1&p=248499 2/23
5/10/24, 7:42 PM CECN104, Course Outline

Learning online is different than in a traditional in-person course. A variety of technologies may be used
in the course. The Resources For Learning Online website provides resources that may be helpful.

Course Schedule
Week 1 (May 4, 2024)

Module 1
An Introduction to Microeconomics

Topics
This module covers the following topics:

Human behaviour, scarcity, marginal benefits and costs, and opportunity costs
Economic theories and models
Positive and normative statements
What is microeconomics?
Economic markets

Learning Objectives
By the end of the module, students should be able to:

Define microeconomics and its relation to the problem of scarcity.

Explain how economists use models to understand economic behaviour.
Define the term “economic market.”
Describe the function of buyers and sellers in an economic market.
Explain the term “perfectly competitive” and its implications on market prices.

Readings and Resources

Required
There is no required textbook for this course. There are several alternative resources and references
provided that students can use to complement the materials presented in the modules.

Resources

https://de.torontomu.ca/de_courses/templates/m/?c=3C8A49145944FED2BBCAADE178A426C4&m=1&p=248499 3/23
5/10/24, 7:42 PM CECN104, Course Outline

1. McConnell, C. R., Brue, S. L., Flynn, S. M., & Barbiero, T. P. (2022). Microeconomics. McGraw
Hill. pp. 1–21.
2. Greenlaw, S. A., Shapiro, D., Gamez, C., Jauregui, A., Keenan, D., MacDonald., D., ... Dodge, E.
(n.d.). Principles of microeconomics. Openstax. Chapter 1: Introduction and Chapter 2 Choice
in a World of Scarcity.

3. Curtis, D., Irvine, I. (n.d.). Principles of microeconomics. Lyryx. pp. 5–18

Note: These resources are meant for additional reading to provide students with alternative explanations
for some concepts presented in this course. As such, it may contain information that goes beyond the
scope of the course. Please note that content that is not also directly covered within these online
modules will not be part of any graded assessments.

Openstax is an optional resource that presents economics from an American context which may be
different from the Canadian context.
The resource is open source which means it can be downloaded and used free.
Students are encouraged to avoid using the embedded links in the resource and instead,
discuss them with the course instructor.

Assessments
There are no graded assessments this week.

Week 2 (May 9, 2024)

Module 2
The Market System

Topics
This module covers the following topics:

Economic systems
Characteristics of the market system
Answer the five fundamental questions of the market system
The invisible hand
The circular flow model
Risk in the market system

Learning Objectives
https://de.torontomu.ca/de_courses/templates/m/?c=3C8A49145944FED2BBCAADE178A426C4&m=1&p=248499 4/23
5/10/24, 7:42 PM CECN104, Course Outline

By the end of the module, students should be able to:

Explain laissez-faire capitalism, the command system, and the market system.
Describe the characteristics of a market system.
Explain how the market system answers the five fundamental questions of what to produce, how to
produce, who obtains the output, how to adjust to change, and how to promote progress.
Explain the operation of the “invisible hand.”
Describe the mechanics of the circular flow model.
Explain how the market system deals with risk.

Readings and Resources

Required
There is no required textbook for this course. There are several alternative resources and references
provided that students can use to complement the materials presented in the modules.

Resources
1. McConnell, C. R., Brue, S. L., Flynn, S. M., & Barbiero, T. P. (2022). Microeconomics. McGraw
Hill. pp. 31–51.
2. Greenlaw, S. A., Shapiro, D., Gamez, C., Jauregui, A., Keenan, D., MacDonald., D., ... Dodge, E.
(n.d.). Principles of microeconomics. Openstax. Chapter 1: Introduction and Chapter 2 Choice
in a World of Scarcity.
3. Curtis, D., Irvine, I. (n.d.). Principles of microeconomics. Lyryx. pp. 5–18.

Note: These resources are meant for additional reading to provide students with alternative explanations
for some concepts presented in this course. As such, it may contain information that goes beyond the
scope of the course. Please note that content that is not also directly covered within these online
modules will not be part of any graded assessments.

Openstax is an optional resource that presents economics from an American context which may be
different from the Canadian context.
The resource is open source which means it can be downloaded and used free.
Students are encouraged to avoid using the embedded links in the resource and instead,
discuss them with the course instructor.

Assessments
There are no graded assessments this week.

https://de.torontomu.ca/de_courses/templates/m/?c=3C8A49145944FED2BBCAADE178A426C4&m=1&p=248499 5/23
5/10/24, 7:42 PM CECN104, Course Outline

Week 3 (May 16, 2024)

Module 3
Supply and Demand

Topics
This module covers the following topics:

Supply of products and services

Demand and market equilibrium
Shocks to supply and demand
Effects of government intervention
Price ceilings and floors

Learning Objectives
By the end of the module, students should be able to:

Use supply and demand analysis as a basic tool in microeconomics.

Explain how markets reach equilibrium.
Describe changes in supply and demand and its effect on market price and quantity.
Analyze the effects of government policies on market equilibrium.

Readings and Resources

Required
There is no required textbook for this course. There are several alternative resources and references
provided that students can use to complement the materials presented in the modules.

Resources
1. McConnell, C. R., Brue, S. L., Flynn, S. M., & Barbiero, T. P. (2022). Microeconomics. McGraw
Hill. pp. 53–76.
2. Greenlaw, S. A., Shapiro, D., Gamez, C., Jauregui, A., Keenan, D., MacDonald., D., ... Dodge, E.
(n.d.). Principles of microeconomics. Openstax. Chapter 3: Demand and Supply.

3. Curtis, D., Irvine, I. (n.d.). Principles of microeconomics. Lyryx. pp. 45–66.

https://de.torontomu.ca/de_courses/templates/m/?c=3C8A49145944FED2BBCAADE178A426C4&m=1&p=248499 6/23
5/10/24, 7:42 PM CECN104, Course Outline

Note: These resources are meant for additional reading to provide students with alternative explanations
for some concepts presented in this course. As such, it may contain information that goes beyond the
scope of the course. Please note that content that is not also directly covered within these online
modules will not be part of any graded assessments.

Openstax is an optional resource that presents economics from an American context which may be
different from the Canadian context.
The resource is open source which means it can be downloaded and used free.
Students are encouraged to avoid using the embedded links in the resource and instead,
discuss them with the course instructor.

Assessments
Quiz 1 is due this week.

Week 4 (May 23, 2024)

Module 4
Applications of the Supply and Demand Model

Topics
This module covers the following topics:

Slope of supply and demand curves

Price elasticity of demand
Price elasticity of supply
The immediate market period
Elasticity of tax incidence
Variations in elasticities

Learning Objectives
By the end of the module, students should be able to:

Describe the effects of a shock on market equilibrium with different slopes of supply and demand.
Explain the sensitivity of quantity supplied and demanded to price using elasticity.
Analyze the effects of a sales tax on equilibrium and determine the tax burden on consumers and
producers.

https://de.torontomu.ca/de_courses/templates/m/?c=3C8A49145944FED2BBCAADE178A426C4&m=1&p=248499 7/23
5/10/24, 7:42 PM CECN104, Course Outline

Readings and Resources

Required
There is no required textbook for this course. There are several alternative resources and references
provided that students can use to complement the materials presented in the modules.

Resources
1. McConnell, C. R., Brue, S. L., Flynn, S. M., & Barbiero, T. P. (2022). Microeconomics. McGraw
Hill. pp. 139–160.
2. Greenlaw, S. A., Shapiro, D., Gamez, C., Jauregui, A., Keenan, D., MacDonald., D., ... Dodge, E.
(n.d.). Principles of microeconomics. Openstax. Chapter 5: Elasticity.

3. Curtis, D., Irvine, I. (n.d.). Principles of microeconomics. Lyryx. pp. 75–94.

Note: These resources are meant for additional reading to provide students with alternative explanations
for some concepts presented in this course. As such, it may contain information that goes beyond the
scope of the course. Please note that content that is not also directly covered within these online
modules will not be part of any graded assessments.

Openstax is an optional resource that presents economics from an American context which may be
different from the Canadian context.
The resource is open source which means it can be downloaded and used free.
Students are encouraged to avoid using the embedded links in the resource and instead,
discuss them with the course instructor.

Assessments
There are no graded assessments this week.

Week 5 (May 30, 2024)

Module 5
Applications of Consumer Theory

Topics
This module covers the following topics:

Total and marginal utility

Law of diminishing marginal returns

https://de.torontomu.ca/de_courses/templates/m/?c=3C8A49145944FED2BBCAADE178A426C4&m=1&p=248499 8/23
5/10/24, 7:42 PM CECN104, Course Outline

Deriving demand curves

Income and substitution effects
Budget lines
Indifference curves
Utility maximization

Learning Objectives
By the end of the module, students should be able to:

Explain total utility, marginal utility, and the law of diminishing marginal return.
Describe how rational consumers maximize utility.
Explain the derivation of the demand curve by observing the outcomes of price changes.
Explain how the utility maximization model highlights income and substitution effects of a price
change.
Describe the budget line, indifference curves, and utility maximization.

Readings and Resources

Required
There is no required textbook for this course. There are several alternative resources and references
provided that students can use to complement the materials presented in the modules.

Resources
1. McConnell, C. R., Brue, S. L., Flynn, S. M., & Barbiero, T. P. (2022). Microeconomics. McGraw
Hill. pp. 163–185.
2. Greenlaw, S. A., Shapiro, D., Gamez, C., Jauregui, A., Keenan, D., MacDonald., D., ... Dodge, E.
(n.d.). Principles of microeconomics. Openstax. Chapter 6: Consumer Choices.

3. Curtis, D., Irvine, I. (n.d.). Principles of microeconomics. Lyryx. pp. 131–148.

Note: These resources are meant for additional reading to provide students with alternative explanations
for some concepts presented in this course. As such, it may contain information that goes beyond the
scope of the course. Please note that content that is not also directly covered within these online
modules will not be part of any graded assessments.

Openstax is an optional resource that presents economics from an American context which may be
different from the Canadian context.
The resource is open source which means it can be downloaded and used free.

https://de.torontomu.ca/de_courses/templates/m/?c=3C8A49145944FED2BBCAADE178A426C4&m=1&p=248499 9/23
5/10/24, 7:42 PM CECN104, Course Outline

Students are encouraged to avoid using the embedded links in the resource and instead,
discuss them with the course instructor.

Assessments
Quiz 2 is due this week.

Week 6 (June 6, 2024)

Module 6
Costs of Production

Topics
This module covers the following topics:

Economic costs
Law of diminishing returns
Short- vs. long-run production costs
Economies of scale

Learning Objectives
By the end of the module, students should be able to:

Explain economic, explicit, and implicit costs.

Relate the law of diminishing returns to a firm’s short-run production costs.
Explain fixed, variable, total, average, and marginal costs.
Relate economies of scale to a firm’s size and production costs.

Readings and Resources

Required
There is no required textbook for this course. There are several alternative resources and references
provided that students can use to complement the materials presented in the modules.

Resources
1. McConnell, C. R., Brue, S. L., Flynn, S. M., & Barbiero, T. P. (2022). Microeconomics. McGraw-
Hill. pp. 187–212.

https://de.torontomu.ca/de_courses/templates/m/?c=3C8A49145944FED2BBCAADE178A426C4&m=1&p=248499 10/23
5/10/24, 7:42 PM CECN104, Course Outline

2. Greenlaw, S. A., Shapiro, D., Gamez, C., Jauregui, A., Keenan, D., MacDonald., D., ... Dodge, E.
(n.d.). Principles of microeconomics. Openstax. Chapter 6: Consumer Choices.
3. Curtis, D., Irvine, I. (n.d.). Principles of microeconomics. Lyryx. pp. 173–194.

Note: These resources are meant for additional reading to provide students with alternative explanations
for some concepts presented in this course. As such, it may contain information that goes beyond the
scope of the course. Please note that content that is not also directly covered within these online
modules will not be part of any graded assessments.

Openstax is an optional resource that presents economics from an American context which may be
different from the Canadian context.
The resource is open source which means it can be downloaded and used free.
Students are encouraged to avoid using the embedded links in the resource and instead,
discuss them with the course instructor.

Assessments
There are no graded assessments this week.

Week 7 (June 13, 2024)

Module 7
Perfect Competition in the Short Run

Topics
This module covers the following topics:

Types of market structures

Perfectly competitive markets
Revenue, costs, and profit maximization under perfect competition in the short run
Marginal cost curve and supply curve

Learning Objectives
By the end of the module, students should be able to:

Describe the characteristics of the basic market models.

Describe how a perfectly competitive firm maximizes profit in the short run.
Explain the relationship between a competitive firm’s marginal cost curve and its supply curve.

https://de.torontomu.ca/de_courses/templates/m/?c=3C8A49145944FED2BBCAADE178A426C4&m=1&p=248499 11/23
5/10/24, 7:42 PM CECN104, Course Outline

Readings and Resources

Required
There is no required textbook for this course. There are several alternative resources and references
provided that students can use to complement the materials presented in the modules.

Resources
1. McConnell, C. R., Brue, S. L., Flynn, S. M., & Barbiero, T. P. (2022). Microeconomics. McGraw
Hill. (pp. 215–234.
2. Greenlaw, S. A., Shapiro, D., Gamez, C., Jauregui, A., Keenan, D., MacDonald., D., ... Dodge, E.
(n.d.). Principles of microeconomics. Openstax. Chaper 8: Perfect Competition.

3. Curtis, D., Irvine, I. (n.d.). Principles of microeconomics. Lyryx. pp. 203–219.

Note: These resources are meant for additional reading to provide students with alternative explanations
for some concepts presented in this course. As such, it may contain information that goes beyond the
scope of the course. Please note that content that is not also directly covered within these online
modules will not be part of any graded assessments.

Openstax is an optional resource that presents economics from an American context which may be
different from the Canadian context.
The resource is open source which means it can be downloaded and used free.
Students are encouraged to avoid using the embedded links in the resource and instead,
discuss them with the course instructor.

Assessments
Quiz 3 is due this week.

Week 8 (June 20, 2024)

Module 8
Perfect Competition in the Long Run

Topics
This module covers the following topics:

Consumer, producer, and total surplus

Deadweight loss

https://de.torontomu.ca/de_courses/templates/m/?c=3C8A49145944FED2BBCAADE178A426C4&m=1&p=248499 12/23
5/10/24, 7:42 PM CECN104, Course Outline

Positive and negative externalities

Government intervention
Long run vs. short run
Long-run equilibrium in perfect competition
Profits in the long run under perfect competition
Perfect competition and efficiency
Technology and competition

Learning Objectives
By the end of the module, students should be able to:

Distinguish between consumer surplus and producer surplus.

Explain how properly functioning markets maximize total surplus and allocate resources efficiently.
Explain how the long run differs from the short run in perfect competition.
Explain how positive and negative externalities cause underallocation and overallocation of
resources.
Describe how profits and losses drive the long-run adjustment process of perfect competition.
Explain the differences between constant-cost, increasing-cost, and decreasing-cost industries.
Describe how long-run equilibrium in perfect competition produces an efficient allocation of
resources.
Explain the profit incentives for innovation.
Describe creative destruction.

Readings and Resources

Required
There is no required textbook for this course. There are several alternative resources and references
provided that students can use to complement the materials presented in the modules.

Resources
1. McConnell, C. R., Brue, S. L., Flynn, S. M., & Barbiero, T. P. (2022). Microeconomics. McGraw
Hill. pp. 89–105, 237–251.
2. Greenlaw, S. A., Shapiro, D., Gamez, C., Jauregui, A., Keenan, D., MacDonald., D., ... Dodge, E.
(n.d.). Principles of microeconomics. Openstax. Chapter 8: Perfect Competition, Chapter 12:
Environmental Protection and Negative Externalities, Chapter 13: Positive Externalities and Public
Goods.

https://de.torontomu.ca/de_courses/templates/m/?c=3C8A49145944FED2BBCAADE178A426C4&m=1&p=248499 13/23
5/10/24, 7:42 PM CECN104, Course Outline

3. Curtis, D., Irvine, I. (n.d.). Principles of microeconomics. Lyryx. pp. 101–114, 203–219.

Note: These resources are meant for additional reading to provide students with alternative explanations
for some concepts presented in this course. As such, it may contain information that goes beyond the
scope of the course. Please note that content that is not also directly covered within these online
modules will not be part of any graded assessments.

Openstax is an optional resource that presents economics from an American context which may be
different from the Canadian context.
The resource is open source which means it can be downloaded and used free.
Students are encouraged to avoid using the embedded links in the resource and instead,
discuss them with the course instructor.

Assessments
There are no graded assessments this week.

Week 9 (June 27, 2024)

Module 9
Monopoly

Topics
This module covers the following topics:

Characteristics of a monopoly
Barriers to entry
Profit maximization by a monopolist
Economic effects of a monopoly
Price discrimination
Regulated monopoly

Learning Objectives
By the end of the module, students should be able to:

Describe the characteristics of a monopoly.

Explain the barriers to entry that prevent competition for a monopoly.
Describe how a monopolist maximizes profit.

https://de.torontomu.ca/de_courses/templates/m/?c=3C8A49145944FED2BBCAADE178A426C4&m=1&p=248499 14/23
5/10/24, 7:42 PM CECN104, Course Outline

Explain the economic consequences of monopolies.

Describe why a monopolist might charge different prices in different markets.
Discuss the various selling prices a regulator might impose on a regulated monopoly.

Readings and Resources

Required
There is no required textbook for this course. There are several alternative resources and references
provided that students can use to complement the materials presented in the modules.

Resources
1. McConnell, C. R., Brue, S. L., Flynn, S. M., & Barbiero, T. P. (2022). Microeconomics. McGraw
Hill. pp. 253–276.
2. Greenlaw, S. A., Shapiro, D., Gamez, C., Jauregui, A., Keenan, D., MacDonald., D., ... Dodge, E.
(n.d.). Principles of microeconomics. Openstax. Chapter 9: Monopoly.
3. Curtis, D., Irvine, I. (n.d.). Principles of microeconomics. Lyryx. pp. 225–249.

Note: These resources are meant for additional reading to provide students with alternative explanations
for some concepts presented in this course. As such, it may contain information that goes beyond the
scope of the course. Please note that content that is not also directly covered within these online
modules will not be part of any graded assessments.

Openstax is an optional resource that presents economics from an American context which may be
different from the Canadian context.
The resource is open source which means it can be downloaded and used free.
Students are encouraged to avoid using the embedded links in the resource and instead,
discuss them with the course instructor.

Assessments
Quiz 4 is due this week.

Week 10 (July 4, 2024)

Module 10
Monopolistic Competition

Topics

https://de.torontomu.ca/de_courses/templates/m/?c=3C8A49145944FED2BBCAADE178A426C4&m=1&p=248499 15/23
5/10/24, 7:42 PM CECN104, Course Outline

This module covers the following topics:

Characteristics of monopolistic competition

Profits in monopolistic competition
Efficiency in monopolistic competition

Learning Objectives
By the end of the module, students should be able to:

Describe the characteristics of monopolistic competition.

Explain why firms in monopolistic competition only earn a normal profit in the long run.
Explain why monopolistic competition delivers neither productive nor allocative efficiency.
Explain why product differentiation helps to compensate for economic efficiency.

Readings and Resources

Required
There is no required textbook for this course. There are several alternative resources and references
provided that students can use to complement the materials presented in the modules.

Resources
1. McConnell, C. R., Brue, S. L., Flynn, S. M., & Barbiero, T. P. (2022). Microeconomics. McGraw
Hill. pp. 280–291.
2. Greenlaw, S. A., Shapiro, D., Gamez, C., Jauregui, A., Keenan, D., MacDonald., D., ... Dodge, E.
(n.d.). Principles of microeconomics. Openstax. Chapter 10: Monopolistic Competition and
Oligopoly.
3. Curtis, D., Irvine, I. (n.d.). Principles of microeconomics. Lyryx. pp. 255–278.

Note: These resources are meant for additional reading to provide students with alternative explanations
for some concepts presented in this course. As such, it may contain information that goes beyond the
scope of the course. Please note that content that is not also directly covered within these online
modules will not be part of any graded assessments.

Openstax is an optional resource that presents economics from an American context which may be
different from the Canadian context.
The resource is open source which means it can be downloaded and used free.
Students are encouraged to avoid using the embedded links in the resource and instead,
discuss them with the course instructor.

https://de.torontomu.ca/de_courses/templates/m/?c=3C8A49145944FED2BBCAADE178A426C4&m=1&p=248499 16/23
5/10/24, 7:42 PM CECN104, Course Outline

Assessments
There are no graded assessments this week.

Week 11 (July 11, 2024)

Module 11
Oligopolies

Topics
This module covers the following topics:

Characteristics of an oligopoly
Game theory and oligopoly
Oligopoly pricing and output
Oligopoly advertising
Efficiency of oligopolies

Learning Objectives
By the end of the module, students should be able to:

Describe the characteristics of oligopoly competition.

Explain how game theory relates to oligopoly.
Explain the two main models of oligopoly pricing and output.
Describe the positive and negative effects of advertising.
Explain the efficiency of oligopolies.

Readings and Resources

Required
There is no required textbook for this course. There are several alternative resources and references
provided that students can use to complement the materials presented in the modules.

Resources
1. McConnell, C. R., Brue, S. L., Flynn, S. M., & Barbiero, T. P. (2022). Microeconomics. McGraw
Hill. pp.293–313.

https://de.torontomu.ca/de_courses/templates/m/?c=3C8A49145944FED2BBCAADE178A426C4&m=1&p=248499 17/23
5/10/24, 7:42 PM CECN104, Course Outline

2. Greenlaw, S. A., Shapiro, D., Gamez, C., Jauregui, A., Keenan, D., MacDonald., D., ... Dodge, E.
(n.d.). Principles of microeconomics. Openstax. Chapter 10: Monopolistic Competition and
Oligopoly.
3. Curtis, D., Irvine, I. (n.d.). Principles of microeconomics. Lyryx. pp. 225–278.

Note: These resources are meant for additional reading to provide students with alternative explanations
for some concepts presented in this course. As such, it may contain information that goes beyond the
scope of the course. Please note that content that is not also directly covered within these online
modules will not be part of any graded assessments.

Openstax is an optional resource that presents economics from an American context which may be
different from the Canadian context.
The resource is open source which means it can be downloaded and used free.
Students are encouraged to avoid using the embedded links in the resource and instead,
discuss them with the course instructor.

Assessments
There are no graded assessments this week.

Week 12 (July 18, 2024)

Module 12
The Factor Market

Topics
This module covers the following topics:

Factor pricing
Marginal re

Course Textbooks and Materials

Required Textbook(s)
There is no required textbook for this course.

Recommended Readings or Resources

https://de.torontomu.ca/de_courses/templates/m/?c=3C8A49145944FED2BBCAADE178A426C4&m=1&p=248499 18/23
5/10/24, 7:42 PM CECN104, Course Outline

1. McConnell, C. R., Brue, S. L., Flynn, S. M., & Barbiero, T. P. (2022). Microeconomics.
McGraw Hill.
2. Greenlaw, S. A., Shapiro, D., Gamez, C., Jauregui, A., Keenan, D., MacDonald., D., ...
Dodge, E. (n.d.). Principles of microeconomics. Openstax.
3. Curtis, D., Irvine, I. (n.d.). Principles of microeconomics. Lyryx.

Marking Scheme
Course Weight
Assessment Week Assigned Week Due
(in %)

Quiz 1 15% 3 3

Quiz 2 15% 5 5

Quiz 3 15% 7 7

Quiz 4 15% 9 9

Final Exam 40% 13 13

Total 100%

For more information about exams, please see Toronto Metropolitan University’s Senate
Policy on Examinations No. 135.

For more information about grade appeals and reassessments, please see Toronto
Metropolitan University’s Senate Policy on Undergraduate Academic Consideration and
Appeals no. 134.

Assignment Descriptions
Quizzes
Each quiz will include approximately 30 multiple-choice questions.
Each quiz spans more than one module. For example, Quiz 1 spans Modules 1 to 3 inclusive,
Quiz 2 spans Modules 4 to 5 inclusive, Quiz 3 spans Modules 6 to 7 inclusive, and Quiz 4
spans Modules 8 to 9 inclusive. Quizzes are not cumulative.
Each quiz will have a one-hour time limit to complete and submit.
Only one single attempt is allowed for each quiz. Once a quiz is started, it must be
completed in one sitting. It cannot be paused and resumed at a later time.

https://de.torontomu.ca/de_courses/templates/m/?c=3C8A49145944FED2BBCAADE178A426C4&m=1&p=248499 19/23
5/10/24, 7:42 PM CECN104, Course Outline

Quizzes will be released on Friday of the module week scheduled and will be accessible
during an eight-hour window. Students can begin the quiz anytime within the eight-hour
window, keeping in mind the one-hour time limit to complete it. The quiz will automatically
close once the eight-hour window ends. The start and end times for the eight-hour window
will be announced by each course instructor.
All quizzes will be completed in D2L.

Final Exam
The final exam will include approximately 60 multiple-choice questions.
The final exam is cumulative and covers all course modules.
The final exam will have a two-hour time limit to complete and submit.
Only one single attempt is allowed for the final exam. Once the final exam is started, it
must be completed in one sitting. It cannot be paused and resumed at a later time.
The final exam will be released on Friday of the last module week scheduled and will be
accessible during an eight-hour window. Students can begin the final exam anytime within the
eight-hour window, keeping in mind the two-hour time limit to complete it. The final exam will
automatically close once the eight-hour window ends. The start and end times for the eight-
hour window will be announced by each course instructor.
The final exam will be completed in D2L.

Participation Details
The online discussion board is an excellent way to enhance your learning and practice critical
thinking. Discussing content in an online environment allows you to reflect before contributing and
take time to consider other student postings. By providing opportunities for networking and
community building, the discussion board can reduce the feeling of isolation that sometimes occurs
in online courses.

Etiquette Guidelines
Treat online forums as academic, public-speaking spaces. Post comments in the same way
you would speak in a traditional classroom – politely and respectfully. Forums are a place for
discussion and debate about the content you are studying. They are a way of getting to know
and interact with your peers and instructor(s) and share your views and ideas
Respect diversity. There will be multiple perspectives and experiences shared relating to
course content and subject matter practice. You may disagree with someone’s perspective or
have a different one, but positioning any perspective as “right” or “wrong” should be avoided.
The instructor, possessing a depth of knowledge in the course subject, will offer guidance and
support as necessary to rectify any inaccuracies in forums.

https://de.torontomu.ca/de_courses/templates/m/?c=3C8A49145944FED2BBCAADE178A426C4&m=1&p=248499 20/23
5/10/24, 7:42 PM CECN104, Course Outline

Read and respond to peer postings. If someone comments on your thread or asks a
question, monitor and reply.
Keep criticism constructive and positive. Reference course readings and content to make
suggestions or recommendations.
In online discussions, students are expected to comply with Toronto Metropolitan University’s
Senate Policy on the Student Code of Non-Academic Conduct No. 61. Inappropriate forum
behaviour should be reported to the instructor immediately. Allow the instructor time to
respond and take action. Do not engage an inappropriate peer directly.

Missed Term Work or Examinations and Course

Repeats
Missed Term Work or Examinations
Students are expected to complete all assignments, tests, and exams within the time frames and
by the dates indicated in this outline. Exemption or deferral of an assignment, term test, or final
examination is only permitted for a medical or personal emergency or religious observance.

Health Certificates
If you will miss an assignment, test or examination due to illness, you must submit a health
certificate and an Academic Consideration Request form within three working days of the missed
deadline, test, or examination.

If you are a full-time or part-time degree student, then you submit your medical documentation to
your own program school/department. If you are a certificate or non-certificate student, then submit
your documentation to the staff at the Chang School. Your continuing education contract lecturer
can no longer accept your documentation. If you have questions, please contact The Chang
School.

For more information, please consult Toronto Metropolitan University’s Senate Policy on
Undergraduate Academic Consideration and Appeals no. 134.

Religious, Indigenous, and Spiritual Observance

For accommodations based on medical or religious, Aboriginal, and spiritual observance reasons,
a Request for Accommodation of Student Religious, Aboriginal and Spiritual Observance form and
an Academic Consideration Request form must be submitted within the first two weeks of class or,
for a final examination, within two weeks of the posting of the examination schedule.

Official forms may be downloaded or picked up from The Chang School at Heaslip House, 297
Victoria Street, Main Floor.

https://de.torontomu.ca/de_courses/templates/m/?c=3C8A49145944FED2BBCAADE178A426C4&m=1&p=248499 21/23
5/10/24, 7:42 PM CECN104, Course Outline

For more information, please consult Toronto Metropolitan University’s Senate Policy on
Accommodation of Student Religious, Aboriginal and Spiritual Observance No. 150.

Course Repeats
Senate GPA Policy prevents students from taking a course more than three times. For the
complete GPA Policy, see Toronto Metropolitan University’s Senate Policy on Undergraduate
Grading, Promotion, and Academic Standing Policy No. 46.

Plagiarism
The Toronto Metropolitan University Student Code of Academic Conduct defines plagiarism and the
sanctions against students who plagiarize. All students are strongly encouraged to go to the
Toronto Metropolitan University Academic Integrity Office website and complete the tutorial on
plagiarism.

For more information, please consult Toronto Metropolitan University’s Senate Policy on Academic
Integrity No. 60, 60-1, 60-2 and 61.

Departmental Policies and Course Practices

Students are required to adhere to all relevant university and department policies found in the
online course shell in D2L.

The only assessments are quizzes and a final exam. If a student misses a quiz and provides
proper documentation, the instructor can decide what to do. They can re-open the quiz for the
student or shift the weight of the quiz to the final exam.

To learn more about course management expectations, please review Toronto Metropolitan
University’s Senate Policy on Course Management No.166.

Accessibility
Per Toronto Metropolitan University’s Senate Policy for Academic Accommodation of Students with
Disabilities No. 159, the University will provide academic accommodations for students with
disabilities in accordance with the Ontario Human Rights Code and the Accessibility for
Ontarians with Disabilities Act.
If such accommodation is required, please contact Academic Accommodation Support, preferably
before the start of the course to allow for time to make any necessary arrangements.

Student Email
All students in full- and part-time graduate and undergraduate degree programs and all continuing
education students are required to activate and maintain their Toronto Metropolitan University

https://de.torontomu.ca/de_courses/templates/m/?c=3C8A49145944FED2BBCAADE178A426C4&m=1&p=248499 22/23
5/10/24, 7:42 PM CECN104, Course Outline

online identity at torontomu.ca/accounts in order to regularly access Toronto Metropolitan

University’s email, MyServiceHub, the my.torontomu.ca portal and learning system, and other
systems by which they will receive official university communications.

Student Support
If you are experiencing technical or administrative issues with your course, help is available from
the Chang School Client Services team via email at ce@torontomu.ca or by phone at (416) 979-
5035. Please refer to the Chang School Client Services website for operating hours and other
information.

https://de.torontomu.ca/de_courses/templates/m/?c=3C8A49145944FED2BBCAADE178A426C4&m=1&p=248499 23/23