Introduction to Microeconomics Course Syllabus

Introduction to Microeconomics Course Syllabus

Paul Harvell

Econ 1B, Fall 2012

Introduction to Microeconomics —Course Syllabus

Office: 432C. Office hours: MW: 11:10-12:40, TTh: 12:40 – 1:40. Phone: (831) 477-5218.

Email address is . Begin your subject line with “ECON:”.

Class webpage(s): Click on Econ 1B for this class

Books:required text: Hubbard and O’Brien (HO), Microeconomics, 2nd Edition. This is available in a custom printed version in the bookstore. Since the text is custom published, chapters titled but not numbered.

  • Students must sign-in on the class roster to reserve their space in this class
  • No prior knowledge of economics is required for this class.
  • Grading will be primarily determined by four exams (including the final)
  • Midterms are equally weighted and not comprehensive.
  • The final will have an comprehensive component
  • Exams are closed notes and closed book
  • Each midterm is 60 multiple choice questions and 2 written questions of 5 points each
  • The final will have 90 multiple choice questions, 30 of which are comprehensive, and 2 written questions.
  • There are three out-of-class assignments all currently posted on the class website.
  • The combined scores can be used to replace a low midterm score.
  • Or, they can be individually factored into the overall score if they raise one’s grade
  • Assignments are due at the start of class on the due date. I do not accept late assignments. No exceptions.
  • There is a small bonus for properly following the instructions printed on the exam.
  • Must bring Apperson test form to each exam. Also, get yourself a good eraser.
  • Calculators are allowed (and recommended) in class and on exams. No other electronic devices are allowed on during an exam, this includes cell phones, smart phones, iPods, iPads,laptops, blenders, guitar amps and PSPs.
  • Showing up late to an exam can result in a penalty (of over 10% of exam) to the student
  • Written questions can receive negative scores (up to the point value of the question)
  • Graphs are important in this class. A good portion of the grading of the essays will be on demonstrating the answer using the appropriate graphs.
  • Points may be awarded for other assignments, though none are planned.
  • No audio or video recording of lectures is allowed without prior permission (I don’t want to be on YouTube)
  • No Extra Credit. No make-up exams
  • Grading Policy:Grade: A: 90% B: 75% C: 60% D: 45%
  • All who are allowed to add, whether on the waitlist or not, must process the add on WebAdvisor using an Add Code

Students should retain all tests until official notification of course grade. Students wanting pass/no pass grading option need to submit a written statement requesting that by the official deadline. Form is available on class website. Students are responsible for dropping the class. Students are responsible for knowing hours of operation of the bookstore in order to obtain materials necessary for taking the exams.

Any corrections or changes to this syllabus will be announced in class. Any cheating will be punished with at least a score of minus the number of points possible (for example, -70 for an exam) and the score can not be dropped. Further action can be taken by school administration. Students automatically consent to re-take an exam if the instructor has any question about the integrity of the results.

All students needing accommodations should inform the instructor ASAP. Veterans may qualify for accommodations. Wounded Warriors may have acquired injuries which through the American with Disabilities Act (ADA) entitles the use of accommodations to ensure equal opportunity for students with verifieddisabilities. To determine if you qualify or need assistance with an accommodation, please contact DisabledStudent Services, Room 810, 479-6379, or the Learning Skills Program, Room 1073, 479-6220.

Learning Outcomes

1. Analyze and predict changes, both qualitatively and quantitatively, in a microeconomic market.

2. Analyze a microeconomic market for potential sources of inefficiency and propose or evaluate possible strategies to improve economic efficiency.

3. Analyze an industry, describing typical behavior based on standard market structures, identifying possible inefficiencies, and describing pricing and competitive behavior in both the short and long run.

Course Outline

I Supply and Demand

A) Theory of Supply and Demand; HO: Where Prices Come From

B) Consumer & Producer Surplus, Efficiency; HO: Economic Efficiency

Note: skip objective 4 in the above chapter on “Economic Impact of Taxes”

C) Elasticity; HO: Elasticity

EXAM #1 coveringSection I:September 27 (week 5)

II Consumer Theory; HO: Consumer Choice including appendix

Take-home quiz coveringSection II: due October 4

III Firms Part 1

A) Intro to Firms; HO: Firms, Stock Market, Corp. Governance, (Learning Objects 1, 2 & 3 only)

B) Cost of Production; HO: Technology, Production, and Costs

C) Monopoly; HO: Monopoly and Antitrust Policy

D) Pricing; HO: Pricing Strategy

EXAM #2 coveringSection III: October 25 (week 9)

Industry Project, Part 1: dueNovember 1

IV Firms Part 2

A) Monopolistic Competition; HO: Monopolistic Competition

B) Perfect Competition; HO: Firms in Perfectly Competitive Markets

C) Oligopoly & Game Theory; HO: Oligopoly

EXAM #3 covering Section IV: November 20 (week 13)

Industry Project, Part 2: due November 29

V Labor, Market Failures, Behavioral Econ

A) Labor Market; HO: The Markets for Labor (skip Objective 6)

B) Market Failures; HO: Externalities, Environmental Policy and Public Goods

C) Information Problems; HO: Economics of Information

D) Behavioral Economics; HO: Consumer Choice (Learning Objective 3 & 4 only)

EXAM #4coveringSection V & Comprehensive: Finals Week (week 16)

Other Important Dates:

September 3, Monday, Holiday, Labor Day

September 7, Last day to register or add a class (in person), September 8 (online)

November 12, Monday, Holiday, Veteran’s Day

November 17, Last day to withdraw from class

November 22, Thursday, Thanksgiving

December 7, Last day to apply for AA/AS degree

December 10-15, Finals Week

December 18, Grades should be available on WebAdvisor

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