EC 110 Section 009: Honors Prin Of Microeconomics
Fall, 2009
3 Credit Hours
Primary Instructor: William Aldridge
Core Designation: University Honors, Social and Behavioral Sciences
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waldridge@cba.ua.edu 205.348.6678 |
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Office # 261 in Alston Hall.
Tuesday & Thursday; 8:45 a.m. – 9:15 a.m.; 1:30 a.m. – 3:15 p.m.
or by appointment. I will be happy to meet with you. |
This course is described in the Undergraduate Catalog as, “An introduction to microeconomic analysis concentrating on consumer and producer behavior, competitive and imperfect markets, public policy and regulation, and income distribution.”
Economics is a social science not unlike physics which is a physical science. In both sciences there are certain actions that bring about certain reactions. Also, in both there are certain forces that are pushing the respective situation toward equilibrium. With economics one attempts to understand why people do what they do primarily in the market place. Everyday people are all trying to maximize pleasure and minimize pain. Economists refer to this as using scarce resources trying to satisfy unlimited needs.
Microeconomics studies the individual person or individual firm point of view, whereas macroeconomics looks at it from the group or aggregate point of view. Microeconomics and macroeconomics are highly interwoven. As such, many of the same topics will be studied in the beginning of both disciplines. The first few chapters of the book are not unlike ground school for learning to fly an airplane. Although little application is involved, sufficient knowledge is required before one can confidently APPLY this knowledge in the later chapters of economic theory.
Well, what will you get out of it? It should be a strong intellectual foundation of what the microeconomic building blocks look like and how they naturally fit in a free market environment or unnaturally fit in a government regulated environment. A higher emphasis will be placed on the actions of the firm.
More specifically:
1. To understand as many “Positive Laws” of microeconomics as possible in order to live in a political world.
2. To understand primary effects, secondary effects, and market structures in environments with and without government policies.
3. How to interpret economic models and graphs.
Finally, to get the best analytical foundation for both further economic study at the UOA as well as use in everyday life.
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See my web page for any extra credit assignments. Some unplanned extra point projects may be assigned to the class as a whole. No student specific information will be given over the phone or internet to anyone. No student information will be given to anyone except the student or the appropriate college personnel.
Grades will not be posted on my office door.
Homework and Extra Credit:
1. Be neat
2. Use 8 ½ x 11-inch paper that has not been torn out off a spiral notebook.
3. Fold, staple and put on the outside of your paper:
Last Name, First name, Middle Initial
Class with Section Number
Date Turned in / Date Due
4. Put no work on the back of the page
5. Some assignments discussed in class will be turned in by e-mail.
6. Homework is due at the beginning of the next class period after it is assigned.
Classroom:
1. Please, bring your text and notes from the instructor and text web sites.
2. Do NOT bring food, drinks, or tobacco products into the classroom at any time. Eating and drinking in the classroom are prohibited. See instructor.
3. Cell phones, PDAs, and other electronic devices can create serious distractions for a class such as ours and should not be used when class is in session.
4. Laptops may be used in class to take notes.
Test:
1. #2 pencils with erasers provided by the student.
2. Your answers will be put on a Scantron sheet and a “backup sheet” provided by the instructor.
3. Print your name, CWID, class, and date on the test.
4. Turn all work directly over to the instructor or as directed.
5. Picture identification must be presented PRIOR to receiving a test. If a picture
identification is not presented, you may not be allowed to take a test or your
test may not be graded. Other means of identification may also be requested
6. All tests are closed books and closed notes.
7. No materials are shared.
8. ALL work is to be done without aid from other individuals.
9. Calculators may be used during tests unless as directed by the instructor. |
There will be FOUR major tests including the final exam. If you take the non-comprehensive final exam, all major tests will be equally weighed and together account for 90% of your final grade. If you take the comprehensive final exam, it counts for 90% of your final grade, and your other major tests do not count. “Online Quiz” points count for 10% of your final grade. The final exam is not optional.
If the class average for a major test is below 75, the class average will be curved to a 75 by using the following method. The maximum curved score one can receive on a test is 105.
NAME (INITIAL SCORE) * (CURVE FACTOR) = CURVED SCORE
John 40 75/50 60
Mary 50 75/50 75
Bob 60 75/50 90
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AVERAGE 50 75
If the class average for a test is 75 or higher, the test will not be curved. No student information will be given over the phone or Internet to anyone. No student information will be given to anyone except the student or the appropriate college personnel. Grades will not be posted on my office door.
Letter grades will be assigned according to the following:
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Letter |
Minus Sign |
No Sign |
Plus Sign
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A |
90.00 to 92.99 % |
93.00 to 96.99 % |
97.00 % and above |
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B |
80.00 to 82.99 % |
83.00 to 86.99 % |
87.00 % to 89.99 % |
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C |
70.00 to 72.99 % |
73.00 to 76.99 % |
77.00 % to 79.99 % |
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D |
60.00 to 62.99 % |
63.00 to 66.99 % |
67.00 % to 69.99 % |
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F |
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59.99 % and below |
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1. If a student misses a test due to an extenuating circumstance as listed below, the student will be allowed to have a make up test on that material. An absence will be considered excused only if extenuating circumstances are documented. The student must be able to verify such extenuating circumstances as sickness, death in the immediate family, military, or certain legal obligations. Approved make up exams are given as soon as possible after the missed test.
2. If a student misses a test due to a circumstance not listed in paragraph (1.) of this section, the student will not be allowed to have a make up test on that material. The student may select one of two options: (a.) The student will take a comprehensive final over all of the material, which will count for 90% of his/her final grade for the course. All other scheduled major tests will not count. Thereby, your comprehensive final exam grade will then become the major basis for your final grade in the course prior to on-line assignments and extra point consideration. (b.) The missed test(s) will count as zero and the student will take the rest of the tests as scheduled.
3. Anyone may take the comprehensive final, but it REPLACES all prior major tests and will count for 90% of his/her final grade
Make-ups for missed homework or quizzes have the same burden of proof as major tests.
Students are expected to attend all classes for which they are registered, to be prompt, and to remain in class/lab for the entire time. Attendance will be recorded at every class meeting. Withdrawal from class can affect eligibility for financial aid. No points will be given or subtracted from your grade regarding attendance.
All students in attendance at the University of Alabama are expected to be honorable and to observe standards of conduct appropriate to a community of scholars. The University expects from its students a higher standard of conduct than the minimum required to avoid discipline. Academic misconduct includes all acts of dishonesty in any academically related matter and any knowing or intentional help or attempt to help, or conspiracy to help, another student.
The Academic Misconduct Disciplinary Policy will be followed in the event of academic misconduct.
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