EC 110 Section 320: Prin Of Microeconomics
Fall 2011
3 Credit Hours
Primary Instructor: Dr. Paula Cordero Cordero-Salas
Core Designation: University Honors, Social and Behavioral Sciences
Syllabus subject to change.
The topics in this course cover supply and demand for goods and services, taxes, and market structure. This course is not a mathematically challenging course, however it will make extensive use of graphs and graphical analysis to illustrate the economic concepts.
The purpose of this course is to serve as an introduction to economic theory and practice. This is a fi rst course in economics so emphasis will be placed on learning how to think "like an economist," that is, how to analytically approach the problems and issues when examining human behavior and scarcity of resources. The topics in this course cover supply and demand for goods and services, taxes, and market structure. This course is not a mathematically challenging course, however it will make extensive use of graphs and graphical analysis to illustrate the economic concepts. We have a lot of ground to cover in this course and much of the material builds upon itself so make sure you do not fall behind and make sure you get help as soon as you feel you are falling behind.
This schedule is subject to change at my discretion.
Week 1: Intro. to Economics . . . . . . . . . . . .. . . . . . . . . . . . . . . . . . . . . Chapters 1 and 2 (and Chapter 2 appendix)
Week 2: Production Possibilities Frontiers/Opportunity Cost . . . . . . . . . . . . Chapter 3
Week 3: Supply and Demand . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Chapter 4 and 21
Week 4: Supply and Demand/Elasticity . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Chapters 4 and 5
Week 5: Elasticity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Chapter 5
(09/28) Midterm Exam 1 . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . . .. . . Covers Chapters 1 - 5, 21
Week 6: Supply, Demand and Government Policies . . . . . . . . . . .. . . . . . . . .Chapters 6 and 19
Week 7: Market Efficiency . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Chapter 7
Week 8: Welfare Analysis: Taxation and redistribution of income . . . . . . . .. .. Chapters 8, 12 and 20
Week 9: International Trade . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Chapter 9
Week 10: Externalities and Public Goods . . . . . . . . . . . . . . . . . . . . . . . . . .. . . Chapters 10 and 11
(10/31) Midterm Exam 2 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . Covers Chapters 6-12,20, 21
Week: 11 The Costs of Production . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . Chapters 13
Week: 12 Competitive Markets and Monopoly . . . . . . . . . . . . . . .. . . . . . . .. . . . Chapters 14 and 15
Week: 13 Oligopoly and Monopolistic Competition . . . . . . . . . . .. . . . . . . . .. . . . Chapters 16 and 17
Week: 14 Antitrust Policy . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. .. .Not in the book
Week: 15 Asymmetric Information . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Chapter 22
(TBD) Final Exam . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . . . . . . . . . . . . . . Covers Chapters 13 - 17, 22
Exam Policy:
1. There will be no make-up for quizzes, experiments and exams (or early exams). Unexcused absences will earn a zero on the concerned exam, quizzes, or experiments. Valid excuses include (documented medical or family emergencies. If you must miss a midterm with a valid excuse, you will receive the score of the second midterm in place of the first or one-half of the score of the fi nal in place of the second midterm. The fi nal is not comprehensive and carries the same weight as the midterms. The fi nal will be the week of December 12-15. The speci c date TBD.
2. Calculators are not permitted.
3. Answers to exams will be e-mailed to you shortly after the exam is over.
4. Although I always do my best to eliminate ambiguities from the exam questions, they will sometimes slip by me. In fact, if a multiple choice exam question is not to be a give-away, more than one answer must have an element of truth in it. One answer, however, should be better than the others. Therefore, you are instructed to choose the one best answer to all questions. Credit will only be given for this one best answer. I appreciate your tolerance of this.
Your nal course grade will be based on the following weighting scheme:
10 Assignments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25%
Midterm 1 (09/28) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .25%
Midterm 2 (10/31) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .25%
Final (TBD) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .25%
There will be no make-up for quizzes, experiments and exams (or early exams). Unexcused absences will earn a zero on the concerned exam, quizzes, or experiments. Valid excuses include (documented medical or family emergencies. If you must miss a midterm with a valid excuse, you will receive the score of the second midterm in place of the rst or one-half of the score of the nal in place of the second midterm. The nal is not comprehensive and carries the same weight as the midterms.
During the course, you will be required to complete homework assignments found on the APLIA WEBSITE (http://www.aplia.com). You can purchase an online version of your textbook along with access to Aplia for $76.50. If you would also like a hardback version of the textbook, you can buy a bundle that includes the hardback copy of the book and the Aplia Printed Access Card for $142.50. Alternatively, if you want to borrow a friends book or buy a used one, you can purchase an Aplia Access Card at the local bookstore. The Aplia course-key is: 3UD3-Y6DQ-TTX4.
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The Academic Misconduct Disciplinary Policy will be followed in the event of academic misconduct.
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