Penn State University Abington College
Economics 2, Fall 2004, Professor Lonnie Golden, Ph.D., 215-881-7596 (voice), -7333 (fax).
Principles of Microeconomics Office: 416- Sutherland, Office Hours: Thurs. and Fri., 11am-1pm.
Course Syllabus and Assignments:
Required Textbooks:
Microeconomics, 16rd edition, by McConnell and Brue (MB), 2004.
Study Guide to accompany MicroEconomics (0-07-288472-X), 2004.
Recommended Textbook: Economics is Everywhere, by Daniel Hamermesh (H), 2004.
Grading:
2 Quizzes 20 % (10% each)
2 Exams 20 % each
1 Final Exam 20 %
1 Paper (2 pages) 10 %
Group Presentation 5 % (including ANGEL participation)
General Contribution to Class 5 %
100% Total
Exams:
Quizzes will be given and taken on-line, on the Econ 2 Angel website, opened at the end of a Tuesday class and due at the start of the following class, Thurs.
All quizzes and exams will be combined short-answer essay, multiple choice, and numerical problems.
Exam #1 covers all material since the start of the course and Exam #2 material since Exam #1.
Final Exam will be cumulative, but about half of it will cover material since Exam #2.
Makeup exams can be given ONLY in the case of an excused absence and if prof. is notified before an exam is given.
Grading Scale:
100-90% = A ; 89-80% = A- to B ; 79-75% = B- to C+ ; 74-60% = C ; 59-50% = D
Short Paper Project (500-600 words): Due on Tuesday, November 30.
The main purpose is to have you apply an aspect of microeconomic theory that is covered in the course to a real-world issue of interest to you—such as a particular industry, market, regulatory issue or microeconomic concept. (A one-page handout will have more details.) You select 2 published articles that are both relevant and somehow related to each other. You will contrast and critique their microeconomic content (Alternatively, you may choose to read and review one, relevant book.) You may choose to turn in an Outline plus 2 references on November 4, for a bonus point on top of the 10 total possible points for the paper. During the period October 21-November 4, you are invited to schedule a brief meeting with Prof. Golden for guidance in preparing an Outline of your paper and selecting its 2 articles. Much of the grade on the paper will hinge on the "degree of difficulty” and relevance of articles to microeconomics course material. Start today by using the PSU LIAS database Pro-Quest Direct or ABI-Inform or Econ Lit (for more advanced articles) to search for relevant articles, using topics that interest you as “keywords.” Many recently published articles are now available in Full Text so you can download and/or print them. You will have to turn in a hard copy of the articles you select for the paper.
Participation in Class:
1) Deliberation Team Collaboration Project with Oral Presentations, in class, on Tuesday December 7.
You must participate in a group project that produces an in-class presentations. Each student will take on a role and must participate orally in class (10 total points, including 4 total for Angel postings). We will debate and deliberate on a public policy-related topic concerning a current, controversial microeconomic public policy topic re: regulation of markets. Class will adjourn once a consensus has been reached between the teams. Your group will have to use ANGEL to help prepare your case and coordinate your team’s presentation. (the web address for ANGEL is http://cms.psu.edu).
2) General daily participation that contributes positively to the class (again, out of 10 possible points) will account for the other half of your participation grade.
3) Turning in written answers to no less (or more) than any 5 of the selected essay questions or problems from the list of MB Study Guide questions, OR, questions from the Hamermesh (H) book, always due at the start of each of the 3 exams.
Course Objectives: To understand, predict and influence the behavior and operation of single entities in the economy such as one market, one firm or producer, one industry type, one consumer or household, and related government regulatory bodies and forms of taxes, subsidies and other public policies. Models of these individual units used in the microeconomics field are surveyed, analyzed, critiqued and applied to many real world situations. The main goal is to equip you as student to understand the features, operation, functionality and imperfections of market behavior in the real world economy and to prepare for further study in economics.
All the University Rules with regard to Academic Integrity and Appropriate Classroom Etiquette will apply, and students with disabilities will be provided all reasonable accommodations in this course, if they notify the professor (see www.equity.psu.edu/ods.)
ScheduleWeek of: Topics: / Reading Assignments (Only the Selected Pages) (MB=McConnell and Brue) (H=Hamermesh):
Sept. 2-9 / Overview, Economic Resources (Factors of Production, Inputs), Production Possibilities, Economic Efficiency. / MB:#1, #2,
Sept. 14-16 / Output Growth, Private Market Systems, Roles of Public Goods/Infrastructure. / MB:#4, #5 (79-82), #6 (91-95), #18 (340-44; 350).
H: #1
Sept. 21-23 / Individual Markets: Demand and Supply, Market Equilibrium. / MB:#3 (39-52), 3W-1 .
H: #2, #3.
Sept. 28-30 / Shortages and Surpluses, Price Ceilings and Floors. / MB:#3 (52-56), #20
H: #4.
Oct. 5-7 / Quiz #1 (Angel on-line, submitted before start of class on 7th)
Price Elasticity: Sensitivity to Price Changes. / MB:#7 (112-23).
H: #5.
Oct. 12-14 / Applications and Extensions of Elasticity of Demand.
Exam #1 (Oct.14)
Theory of the Consumer, Marginal “Utility.” / MB:#7 (123-26), #18 (345-49).
MB:#8.
H: #6.
Oct. 19-21 / Production Theory, Costs of Production, Economies of Scale. / MB:#9, #16 (308-10)
H: #8.
Oct. 26-28 / Firms’ Output and Short-run Profit Determination under Perfect Competition. / MB:#10 (169-183).
H: #9.
Nov. 2-4 / Paper Outline due (Nov.4)
Equilibrium in the Long-run with Perfect Competition, Types of Efficiency in Markets.
Monopoly / MB:#10 (183-90).
H: #10, 11.
MB:#11 (194-206).
Nov. 9-11 / Monopolistic Competition-type of Markets.
Quiz #2 (on-line, due start of class on 11th)
Team Project, In-Class Deliberation Set-up / MB:#12 (216-22), #13 (251-55).
H: #13.
Nov. 16-18 / Exam #2 (Nov. 18)
Oligopoly Markets. / MB:#12 (222-237).
H: #14, 15.
Nov. 23 / Deliberation Angel posting #1 due
Regulation and De-Regulation of Monopoly and Oligopoly Industries. / MB:#11 (209-12).
Nov. 30-Dec.2 / Paper Due (Nov.30)
Deliberation Angel posting #2 due (Dec.2)
Labor Markets: Determination of Wage Differentials, Labor Unions, Monopsony, Income Distribution. / MB:#14 (260-69), #15, #21 (390-396), #22 (410-13).
H: #17, H: #18.
Dec.7-9 / Deliberation in class (Topic TBA)
Regulation (across all industries) for Public Goods and Externalities on the Environment, Consumers and Workplaces, Health Care Industry, Anti-Trust Policy.
Final Jeopardy (Review of Course Game Show) (time permitting...) / MB:#17 (314-28), MB:#19.
H: #19, 20.
Monday, December 13 / FINAL EXAM (Cumulative, Comprehensive)
1:15pm. / 1/2 of Final covers material since Exam #2
A Student’s Quick Start Guide for Logging into ANGEL Last updated 9/1/04
Introduction: ANGEL stands for A New Global Environment for Learning. It is the official CMS (Course Management System) used by Penn State University. Teachers and students can use the ANGEL website as a place for course documents and hosting class activities.
Getting to ANGEL: All you need to use ANGEL is a computer, an internet connection, and a web browser. Most Windows® computers come preloaded with the Microsoft Internet Explorer browser. For Macintosh computers you will need to download an ANGEL-compatible browser like Netscape Navigator (www.netscape.com). Once you start your browser program, click in the Address bar near the top of the screen, and type in the web address for ANGEL – which is http://angel.psu.edu – and then press ENTER on your keyboard. You should see the ANGEL login page like the one pictured to the right.
Logging into ANGEL: You’ll use your PSU userID and password to log into ANGEL. Your PSU userID is normally your initials followed by a three-digit number. If you have not received your userID or your password, please visit one of the signature stations located on campus. Once you have typed in your userID and password, click the Log On button. If this is your very first time logging into ANGEL, you’ll be asked to fill out some personal information like your name. Otherwise, you’ll see a profile page like the one on the left.
The ANGEL Profile Page: Whenever you log into ANGEL, you are shown your current profile page. This page lists all of your courses that have been activated in ANGEL. If you don’t see a course listed, it’s probably because your professor hasn’t activated it in ANGEL. The profile page also lists other areas and tools available to you. You can personalize your profile page or even add tools like the online calculator shown here by choosing My Settings and My Profile Content from the options on the blue navigation bar on the left.
Using your ANGEL Course Website: Click on the name of one of your courses to enter the ANGEL space for that class. Your screen will look differently than the sample on the right, depending on how your teacher has set up the ANGEL space. However, you should see a set of section tabs across the top with the words Syllabus, Calendar, Lessons, etc. Take a few moments to click on each tab and view the items that may be listed there.
Some Important ANGEL Tips: Here are a few helpful things to keep in mind as you begin to use ANGEL:
· Always use the Log Off option in the top right corner when you are leaving ANGEL. Just closing the web browser window does not end your session properly.
· You can tell ANGEL to forward copies of messages you receive in your ANGEL inbox. To turn this feature on and specify your forwarding e-mail address, bring up the My Profile screen, select My Settings from the blue navigation bar on the left, and then choose System Settings. Locate the "Mail Settings" section of the screen. Type your e-mail address(es) in the "Forwarding Address" text box. From the "Forwarding Mode" pull-down menu, select "Forward my course mail and keep as new in course." "Save".
Getting Additional Help: If you are having trouble with ANGEL, here are some places you can go for some help:
· The library and computer lab staffs are familiar with ANGEL and may be able to offer some assistance.
· There is also a Help option at the top right corner of any ANGEL course, with many useful online ANGEL guides.