Write an SAC appeal letter to my university to waive a certain economic class that is identical to the class I taken at the college I attended prior.I wondering if you can provide me with a professionally written appeal letter stating why this class should be waived.Provided below is the following course description from my college about the course and course information from my university:
Information from the college about microeconomics: Catalog description: This course discusses the fundamentals of supply and demand. In addition, it covers the underlying theories of cost and revenue analysis, the nature of markets (perfect competition, monopoly, oligopoly and monopolistic competition), and the application of basic tools of economic analysis. It includes consideration of public policy issues.
Book used:Economics Today, 14h Ed., Roger Leroy Miller
Course Core Objectives 1. Think logically (avoiding fallacies of all kinds) when confronting a microeconomic problem. 2. Define the major concepts of economics. 3. State the meaning of "theory" and "hypothesis" and describe how each is used in microeconomics. 4. State the major attributes and assumptions of "capitalism." (Cont'd.) 5. Analyze complex market problems using the theories of supply and demand, distinguishing between changes in supply and demand on the one hand, and changes in quantity on the other. 6. Compute the price elasticity of demand, given price and quantity data. 7. Predict the direction total revenue will change, given the coefficient of elasticity and a price change. 8. Describe the differences in relative elasticity from perfectly elastic to perfectly inelastic. 9. State the determinants of relative elasticity. 10. Interpret elasticity of demand from graphic information. 11. State the distinction between the short and long run in terms of factors of production and costs of production. 12. Analyze the incidence of a sales tax in terms of elasticity of demand and elasticity of supply. 13. Describe the relationship between the income effect and the substitution effect. 14. State the law of diminishing marginal utility. 15. Predict consumer behavior in terms of the utility-maximizing rule, given budget, price and utility data. 16. Derive the demand curve from demand theory. 17. Give several examples of opportunity costs. 18. Give several examples of both explicit and implicit costs. 19. Distinguish between "normal profit" as a cost and "pure (or economic) profit" as a residual. 20. State the law of diminishing returns as it applies to costs. 21. Compute TC, FC, TVC, ATC, AVC, MC and state the relationships between them. 22. Interpret and explain the meaning of graphs of the cost categories in 21 above. 23. Determine profit-maximizing or loss-minimizing outputs from both graphic and schedule data for firms in any industry. 24. Sketch a typical LRAC, showing economies and diseconomies of scale and optimality. 25. Explain the concept of optimality, using the LRAC. 26. State at least two reasons for economies of scale and two for diseconomies of scale. 27. State the assumptions of "perfect competition." 28. Construct a graphic model of a firm in competition. 29. Locate "break-even points" on both average and total graphs of a competitive firm's costs and revenues. 30. Analyze short and long term shutdown and profit maximization, given cost and revenue data for a competitive firm (data may be schedule or graphic). 31. Explain profit-maximization in terms of the MR-MC relationship for a firm in any market. 32. Explain the circumstances under which a firm in any market should expand or contract output, using MC and MR. 33. Compute TC, TR and profit, given an average cost-average revenue graph for a firm in any market. 34. State the major benefits and disadvantages of the competitive market. 35. State the assumptions of the monopoly model. 36. State the assumptions of the monopoly model. 37. State several ways the markets become monopolized. 38. Correctly draw a monopolist's AR and MR curves, given either average or total revenue data. 39. State the economic effects of monopoly, comparing the effects to those under competition. 40. State the different ways that government can regulate the undesirable behavior of monopolists. 41. State the assumptions of the monopolistic competition model. 42. Explain the long-run break-even tendency in monopolistic competition. 43. Analyze the short and long run possible effects of advertising on prices and costs in monopolistic competition. 44. State the assumptions of the oligopoly model. 45. Classify any oligopolist as "homogeneous" or "differentiated." 46. Sketch demand and MR for a non-collusive oligopolist. 47. State the assumptions behind the "kinked-demand curve." 48. State the typical incentives for collusion in oligopoly.
49. State at least one pro and one con argument on the issue of
efficiency in oligopoly.
50. Describe the role of non-price competition in oligopoly.
51. Apply the basic principles of supply and demand to factor markets.
Course Core Outline
1. The nature and method of economics
2. Demand and supply
3. Demand theory - elasticity and utility
4. The costs of production
5. Pure competition 6. Monopoly
7. Monopolistic competition
8. Oligopoly
9. Regulation issues
10. The labor market
Information from the college about macroeconomics:
This course deals with the nature and scope of economics. It includes the basic theories of supply and demand, the mixed capitalist system, national income accounting, the business cycle, employment and income determination, money and banking and fiscal and monetary policy.
Book used:Economics Today, 14h Ed., Roger Leroy Miller
Course Core Objectives
1. Think logically (especially avoiding the fallacies of composition and false cause) when
confronting a macro-economic problem.
2. Define "economics" and the major concepts of macroeconomics.
3. State the meaning of "theory" and "hypothesis" and describe the use and limitations of each in economics.
4. Define "capitalism" and compare and contrast it with traditional and command economies.
5. Analyze simple market problems using the theories of supply and demand, distinguishing between changes in supply and demand on the one hand, and changes in quantity on the other.
6. State the "determinants" of supply and those of demand.
7. State which Federal Government functions are inherent and which are at issue.
8. Describe the circular flow of the economy.
9. State the major effects of Federal tax policies and define them in terms of economic tax principles such as "benefit" or "Progressivity."
10. State the meaning of GNP, NNP, NI, PI, and DI, and state the method of calculation of each.
11. Compute a price index and compute the percentage change from one period to another.
12. Convert a current dollar value to real, using a price index.
13. State the causes and effects of unemployment and inflation.
14. State Say's Law and Keynes' Law, and explain the basic assumptions behind each.
15. State the Classical and Keynesian assumptions concerning macroeconomic equilibrium.
16. State the theories of consumption and investment.
17. Compute MPC, MPS, APC, APS and the simple, tax and balanced budget multipliers.
18. Describe how equilibrium output is achieved, using the Keynesian expenditures-output model.
19. Describe equilibrium output in terms of the injections-leak-ages approach.
20. Explain the distinction between planned and actual investment.
21. Describe the role of inventories in the output-adjustment process.
22. Identify inflationary and recessionary "gaps" in terms of the Keynesian model.
23. State the goals of fiscal policy.
24. State the effects of changes in Federal purchases or taxes in terms of the Keynesian model of the economy.
25. State the effects of budget deficits and surpluses under different economic conditions.
26. Explain how automatic stabilizers affect the economy.
27. Describe the effects of lags on the implementation of fiscal policy.
28. Compare and contrast different budget philosophies.
29. State at least two contrasting positions on deficits and the national debt.
30. State the functions of money and the relationships between Ml and M2.
31. State the elements of the demand for money.
32. State the goal entail of monetary policy.
33. Describe how money is created and destroyed in our system.
34. Compute the money multiplier, given a reserve ratio.
35. State the Keynesian and monetarist views of monetary policy.
36. Describe the tools of monetary policy and state how each is employed by the Federal Reserve.
37. Explain the changes in the economy that occur with changes in monetary policy in terms of the Keynesian model.
38. State the major elements of the "supply-side" approach to managing the economy.
Course Core Outline
1. The nature and method of economics
2. Demand and supply
3. The functions of government
4. National income accounting
5. Inflation, Unemployment and the business cycle
6. The Keynesian model of the economy
7. Fiscal Policy
8. Budget deficits and the public debt
9. Money and banking
10. The Federal Reserve and monetary policy
11. Keynesian, Monetarist and other views of the economy.
Information from university:
Principles of Economics
Explain how the principles of economics relate to decision making and the workings of the economy as a whole.
Compare and contrast economic systems.
Describe how the necessity of a good and the availability of substitutes impact price elasticity.
Determine how changes in supply and demand influence price, quantity, and market equilibrium.
Markets and Types of Goods
Explain how labor market equilibrium is affected by the supply and demand of labor.
Compare and contrast public goods, private goods, common resources, and natural monopolies.
Describe the characteristics of competitive markets, monopolies, and oligopolies.
Measuring Economic Health and Fiscal Policy
Describe the use of gross domestic product to measure the business cycle.
Describe the roles of the government bodies that determine national fiscal policies.
Explain the effects of fiscal policies on the economy's production and employment.
The Federal Reserve
Describe the purpose and function of money.
Explain how the central bank manages a nation's monetary system.
Explain the effects of monetary policies on the economy's production and employment.
International Trade
Define absolute and comparative advantage.
Describe the influences affecting foreign exchange rates.
Debate issues surrounding international trade.
Evaluate the effects of government policy on economic behavior.
Course description:This course introduces the fundamental theories of microeconomics and macroeconomics. The economic principles studied in this course apply to everyday life as students research an industry, debate issues with trade agreements, discuss the effects of a shift in labor supply and demand, and discuss the strengths and weaknesses of the Consumer Price Index calculation. In particular, students research an industry affected by the economy and perform an economic analysis of the chosen industry.