ECONOMICS 330: INTERMEDIATE MICROECONOMIC THEORY
1:00pm-1:50pm MWF --Stipes Hall 319
Fall 2010
Department of Economics, College of Business and Technology
Accredited by AACSB International--TheAssociation to Advance Collegiate Schools of Business
CONTACT INFORMATION:
Professor: Dr. Tara Westerhold
Office Location:Stipes Hall 442 I (inside the Economics Department)
Phone: 298-1313 (direct line with voicemail)
E-mail:
Office Hours: MWF 2.00pm-3.30pmand by appointment
Website:
COURSE OBJECTIVE:The main objective of this course is to provide the student with a thorough understanding of economic issues relating to consumer choice theory (i.e., consumer behavior) and production theory under varying degrees of competition (i.e., firm pricing and output behavior). We will cover a wide range of topics from a theoretical perspective with practical application supplementing the theoretical content.
Prerequisite: Economics 232 Principles of Microeconomics.
Other skills necessary to succeed in this course include:
- strong algebraic skills (and other basic mathematical operations)
- strong analytical and graphing skills.
- a working knowledge of basic calculus (derivatives). Students in the College of Business and Technology as well as students pursuing a BA in Economics through the College of Arts and Sciences are required to take Math 137. You should complete this requirement before taking this course. Three of the four sections of this course use calculus based applications.Basic instruction will be provided in class; however, if you have not taken calculus please be prepared to spend additional time outside of class acquiring this knowledge.
- a working knowledge of basic statistics and Excel. Students pursuing a degree in economics are required to complete STAT 171 or DS 203 in fulfilling this basic requirement. Basic instruction will be provided in class; however, if you have not taken courses using basic statistics and/or excel please be prepared to spend additional time outside of class acquiring this knowledge.
COURSE MATERIALS:
Required
Calculator—you may not use your PDA or cell phone as a calculator
Access to class website:
Recommended
Intermediate Microeconomics 8th edition by Hal R. Varian. Published by Norton (ISBN 978-0-393-93424-3)
DETERMINING YOUR COURSE GRADE: Your course grade is determined by your performance across four categories: Exam I, Exam II, Exam III and your Homework Average (all HW scores combined and averaged). Each exam is 28% constituting 83% of your final course grade and your HW average comprises the remaining 17%.
Exams I, II, and III: There will be three exams in this course, the last of which will be administered on the day scheduled for the final exam. The final exam is not comprehensive in the sense that you will be tested on the entire course; however, the course material covered in the beginning is integral in understanding future topics. Each exam will be comprised of several parts most of which comes in the form of mathematical problem solving, graphical analysis, short answers, and a few multiple choice questions.Exam dates and format will be announced in class and published on the class website with a minimum of one week notice.
Homework Assignments:Approximately 8-10 assignments will be given throughout the semester. Homework assignments and due dates will be announced in class and posted on my website. Assignments are graded on accuracy and completeness. You may work together on assignments; however, your work should not be a carbon copy of someone else’s assignment. Please make sure you are writing up your own answers and explaining your solutions in your own words.
Assignments not turned it to me at the beginning of class when assignments are collected are considered late.
Late assignments will receive a penalty of 15% per week day. Hence, if an assignment is due on Wednesday and you turn it in on Thursday then it is assessed a 15% penalty. If you wait until class time on Friday it receives a 30% penalty. You may turn in late homework to my box in the Economics Department (ST442). You should have the secretary time stamp your assignment
Assignments that are not stapled will receive a penalty of 15%.
GRADING SYSTEM: Each exam, quiz and homework assignment will be graded on the following grading scale with 100 points being the maximum points possible (unless bonus points are available)
A 93.0-100
A- 90.0-92.9
B+ 87.0-89.9
B 83.0-86.9
B- 80.0-82.9
C+ 77.0-79.9
C 73.0-76.9
C- 70.0-72.9
D+67.0-69.9
D 63.0-66.9
D- 60.0-62.9
F59.9 and below
STUDENT RESPONSIBILITIES:
The rights and responsibilities of each student as set forth by the administration of Western Illinois University with regard to academic dishonesty, grade appeals, etc. can be found by visiting the following webpage .
Regular Attendance-- Students are expected to attend class regularly. If you miss a class you should check the website for class information. I will not provide notes for any student missing class for any reason.Check the class website each day to see what you missed.Make up quizzes and/or exams will be given at my discretion for documented, excused absences only. Whenever possible you should make such arrangements with me prior to the exam date.
Academic Responsibility and Academic Integrity:Academic dishonesty of any kind (including but not limited to plagiarism, fabrication, falsification of documents, cheating, or complicity in academic dishonesty) will result in agrade of F for the courseand possible referral to Student Judicial.
ADA Compliance: In accordance with University policy and the Americans with Disabilities Act (ADA), academic accommodations may be made for any student who notifies the instructor of the need for an accommodation. For the instructor to provide the proper accommodation(s) you must obtain documentation of the need for an accommodation through Disability Support Services and provide it to the instructor. It is imperative that you take the initiative to bring such needs to the instructor’s attention, as he/she is not legally permitted to inquire about such particular needs of students. Students who may require special assistance in emergency evacuations (i.e. fire, tornado, etc.) should contact the instructor as to the most appropriate procedures to follow in such an emergency. Contact Disability Support Services at 298-2512 for additional services.
Tentative Course Outline
This outline is subject to change. Additionally, we may skip certain sections of some chapters and these omissions will be announced in class. If we do not have time to complete the entire course outline, adjustments may be made throughout the semester in terms of topic coverage and testing.
Material for Test I (approximately 5 weeks)
The MarketChapter 1
Budget ConstraintChapter 2
PreferencesChapter 3
UtilityChapter 4
ChoiceChapter 5
Material for Test II (approximately 5 weeks)
DemandChapter 6
Revealed PreferenceChapter 7
Slutsky Equation (limited coverage)Chapter 8
Market DemandChapter 15
EquilibriumChapter 16
Material for Test III—final exam (approximately 5 weeks)
TechnologyChapter 18
Profit MaximizationChapter 19
Cost CurvesChapter 21
Firm Supply (limited coverage)Chapter 22
Monopoly (limited coverage)Chapter 24
Monopoly Behavior (limited coverage)Chapter 25