{"id":8556,"date":"2018-05-29T14:18:54","date_gmt":"2018-05-29T14:18:54","guid":{"rendered":"https:\/\/courses.lumenlearning.com\/wm-microeconomics\/?post_type=chapter&#038;p=8556"},"modified":"2024-04-25T23:19:35","modified_gmt":"2024-04-25T23:19:35","slug":"pacing","status":"publish","type":"chapter","link":"https:\/\/courses.lumenlearning.com\/wm-microeconomics\/chapter\/pacing\/","title":{"raw":"Pacing","rendered":"Pacing"},"content":{"raw":"<img class=\"aligncenter wp-image-260\" src=\"https:\/\/s3-us-west-2.amazonaws.com\/courses-images\/wp-content\/uploads\/sites\/2042\/2018\/05\/29140600\/stopwatch.png\" alt=\"icon of a stopwatch\" width=\"200\" height=\"212\" \/>\r\n\r\nThe Introduction to Microeconomics textbook contains fifteen modules\u2014roughly one module per week for a fifteen-week semester. Many choose not to teach every module, so sometimes fewer modules are covered during a semester. Although all the modules are similar in size and depth (aside from the first, introductory module which is more brief), some of the modules work well together and could easily be combined. Some modules may also be drawn out to cover more than one week. Some modules that work well together include:\r\n<ul>\r\n \t<li><strong>Module 1: Economic Thinking <\/strong>and<strong>\u00a0<\/strong><strong>Module 2:\u00a0Choice in a World of Scarcity<\/strong><\/li>\r\n \t<li><strong>Module 12: Labor Markets<\/strong> and <strong>Module 13: Income Distribution<\/strong><\/li>\r\n \t<li><strong>Module 14: Globalization and Trade <\/strong>and<strong>\u00a0<\/strong><strong>Module 15: Exchange Rates and International Finance<\/strong><\/li>\r\n<\/ul>\r\nThese modules are sometimes excluded, depending on faculty preferences or if the concepts are taught in macroeconomics instead:\r\n<ul>\r\n \t<li><strong>Module 14: Globalization and Trade<\/strong><\/li>\r\n \t<li><strong>Module 15:\u00a0Exchange Rates and International Finance<\/strong><\/li>\r\n<\/ul>\r\n<h2>Course Modules:[footnote]*Starred modules are included in both the Lumen Microeconomics and Macroeconomics courses[\/footnote]<\/h2>\r\n<ul>\r\n \t<li>Module 1: Economic Thinking*<\/li>\r\n \t<li>Module 2:\u00a0Choice in a World of Scarcity*<\/li>\r\n \t<li>Module 3:\u00a0Supply and Demand*<\/li>\r\n \t<li>Module 4:\u00a0Applications of Supply and Demand*<\/li>\r\n \t<li>Module 5:\u00a0Elasticity*<\/li>\r\n \t<li>Module 6: Utility<\/li>\r\n \t<li>Module 7: Production and Costs<\/li>\r\n \t<li>Module 8: Perfect Competition<\/li>\r\n \t<li>Module 9: Monopoly<\/li>\r\n \t<li>Module 10: Monopolistic Competition and Oligopoly<\/li>\r\n \t<li>Module 11: Public Goods and Externalities<\/li>\r\n \t<li>Module 12: Labor Markets<\/li>\r\n \t<li>Module 13: Income Distribution<\/li>\r\n \t<li>Module 14: Globalization and Trade*<\/li>\r\n \t<li>Module 15: Exchange Rates and International Finance*<\/li>\r\n<\/ul>","rendered":"<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-260\" src=\"https:\/\/s3-us-west-2.amazonaws.com\/courses-images\/wp-content\/uploads\/sites\/2042\/2018\/05\/29140600\/stopwatch.png\" alt=\"icon of a stopwatch\" width=\"200\" height=\"212\" \/><\/p>\n<p>The Introduction to Microeconomics textbook contains fifteen modules\u2014roughly one module per week for a fifteen-week semester. Many choose not to teach every module, so sometimes fewer modules are covered during a semester. Although all the modules are similar in size and depth (aside from the first, introductory module which is more brief), some of the modules work well together and could easily be combined. Some modules may also be drawn out to cover more than one week. Some modules that work well together include:<\/p>\n<ul>\n<li><strong>Module 1: Economic Thinking <\/strong>and<strong>\u00a0<\/strong><strong>Module 2:\u00a0Choice in a World of Scarcity<\/strong><\/li>\n<li><strong>Module 12: Labor Markets<\/strong> and <strong>Module 13: Income Distribution<\/strong><\/li>\n<li><strong>Module 14: Globalization and Trade <\/strong>and<strong>\u00a0<\/strong><strong>Module 15: Exchange Rates and International Finance<\/strong><\/li>\n<\/ul>\n<p>These modules are sometimes excluded, depending on faculty preferences or if the concepts are taught in macroeconomics instead:<\/p>\n<ul>\n<li><strong>Module 14: Globalization and Trade<\/strong><\/li>\n<li><strong>Module 15:\u00a0Exchange Rates and International Finance<\/strong><\/li>\n<\/ul>\n<h2>Course Modules:<a class=\"footnote\" title=\"*Starred modules are included in both the Lumen Microeconomics and Macroeconomics courses\" id=\"return-footnote-8556-1\" href=\"#footnote-8556-1\" aria-label=\"Footnote 1\"><sup class=\"footnote\">[1]<\/sup><\/a><\/h2>\n<ul>\n<li>Module 1: Economic Thinking*<\/li>\n<li>Module 2:\u00a0Choice in a World of Scarcity*<\/li>\n<li>Module 3:\u00a0Supply and Demand*<\/li>\n<li>Module 4:\u00a0Applications of Supply and Demand*<\/li>\n<li>Module 5:\u00a0Elasticity*<\/li>\n<li>Module 6: Utility<\/li>\n<li>Module 7: Production and Costs<\/li>\n<li>Module 8: Perfect Competition<\/li>\n<li>Module 9: Monopoly<\/li>\n<li>Module 10: Monopolistic Competition and Oligopoly<\/li>\n<li>Module 11: Public Goods and Externalities<\/li>\n<li>Module 12: Labor Markets<\/li>\n<li>Module 13: Income Distribution<\/li>\n<li>Module 14: Globalization and Trade*<\/li>\n<li>Module 15: Exchange Rates and International Finance*<\/li>\n<\/ul>\n\n\t\t\t <section class=\"citations-section\" role=\"contentinfo\">\n\t\t\t <h3>Candela Citations<\/h3>\n\t\t\t\t\t <div>\n\t\t\t\t\t\t <div id=\"citation-list-8556\">\n\t\t\t\t\t\t\t <div class=\"licensing\"><div class=\"license-attribution-dropdown-subheading\">CC licensed content, Original<\/div><ul class=\"citation-list\"><li>Pacing. <strong>Provided by<\/strong>: Lumen Learning. <strong>License<\/strong>: <em><a target=\"_blank\" rel=\"license\" href=\"https:\/\/creativecommons.org\/licenses\/by\/4.0\/\">CC BY: Attribution<\/a><\/em><\/li><\/ul><div class=\"license-attribution-dropdown-subheading\">CC licensed content, Shared previously<\/div><ul class=\"citation-list\"><li>Stopwatch. <strong>Authored by<\/strong>: Adrien Coquet, FR. <strong>Provided by<\/strong>: Noun Project. <strong>Located at<\/strong>: <a target=\"_blank\" href=\"https:\/\/thenounproject.com\/term\/stopwatch\/1094680\/\">https:\/\/thenounproject.com\/term\/stopwatch\/1094680\/<\/a>. <strong>License<\/strong>: <em><a target=\"_blank\" rel=\"license\" href=\"https:\/\/creativecommons.org\/licenses\/by\/4.0\/\">CC BY: Attribution<\/a><\/em><\/li><\/ul><\/div>\n\t\t\t\t\t\t <\/div>\n\t\t\t\t\t <\/div>\n\t\t\t <\/section><hr class=\"before-footnotes clear\" \/><div class=\"footnotes\"><ol><li id=\"footnote-8556-1\">*Starred modules are included in both the Lumen Microeconomics and Macroeconomics courses <a href=\"#return-footnote-8556-1\" class=\"return-footnote\" aria-label=\"Return to footnote 1\">&crarr;<\/a><\/li><\/ol><\/div>","protected":false},"author":29,"menu_order":2,"template":"","meta":{"_candela_citation":"[{\"type\":\"cc\",\"description\":\"Stopwatch\",\"author\":\"Adrien Coquet, FR\",\"organization\":\"Noun Project\",\"url\":\"https:\/\/thenounproject.com\/term\/stopwatch\/1094680\/\",\"project\":\"\",\"license\":\"cc-by\",\"license_terms\":\"\"},{\"type\":\"original\",\"description\":\"Pacing\",\"author\":\"\",\"organization\":\"Lumen 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