University of Hartford
Barney School of Business & Public Administration
Intro. to Microeconomics
Tuesday and Thursday
M 9:30-11:20 & W 10:30-11:20
M 11:30-1:20 & W 11:30-12:20
Dr. Demetrios Giannaros
Web Site: uhaweb.hartford.edu/giannaros for course materials/links
T&TH 11:15-12:30, Monday 3:00-5:00 P.M. or by appointment
*NOTE: e-mail is a good way to send me a message for a timely response!!
O’Sullivan Arthur and Steven M. Sheffrin, Microeconomics-Principles and Tools, 2nd Edition, Prentice Hall, N.J., 2000.
**See also the book’s website(www.prenhall.com/osullivan) for more information & exercises.
OPTIONAL STUDY GUIDE (but highly recommended!):
Janice Boucher Breuer, Study Guide for Microeconomics-Principles and Tools, by O"Sullivan/Sheffrin, Prentice Hall, N.J., 1998.
EC 211-Principles of Microeconomics (3 credits)—
This is an introductory course in microeconomic theory. Students will learn basic principles of economic decision making from the perspective of the individual, firm, and industry. Particular attention is given to the market system and how prices and profits coordinate the actions of economic decision-makers. Topics include: demand and supply, consumer behavior, costs and production, market structure, market failure, regulation, poverty, and income distribution.
Upon completion of the course students should be able to understand how the market economy system works. More specifically, the student will be able to understand how prices, wages, interest rates, rents, foreign exchange rates and profits are determined and, in turn how they affect the allocation of resources, production, employment, and income. It also will assist the student to understand what motivates consumer and producer decision making.
Grading:EVALUATION AND GRADING*:
Three midterm exams 60% (Hourly Exams)
Final exam 25% (Date: Friday: Dec 21, 2001; 2-4PM)
Class participation and
Home assignments 15%
Students are expected to have read the assigned readings and do the exercises in the study guide, the textbook, and/or the book’s website (www.prenhall.com/osullivan) before the lecture. It is also expected that you will participate in discussing relevant economic issues that relate to the subject matter. Real world application of economic concepts is a must for understanding and retention of economic concepts. Therefore, it is expected that you will be reading current microeconomic issues through either the Wall Street Journal or CNNFN.com or Bloomberg.com or similar sources. Some of the articles in the internet or Newspapers will be used for class discussion and application of the concepts.
Ethics: Indirect references regarding producer and consumer behavior.
Global: Current events, global examples/ applications and theory discussed.
Political, social, legal, regulatory and environmental: Substantial discussion in
connection to market structures, pricing and public policy
Technological: Some coverage, including the role of the internet/telecommunications
and other technologies in production.
Demographic diversity: Some references in the context of labor markets and wages.
Communication skills: Portion of exams is usually written.
*NOTE: Syllabus may be changed with at least a week’s notice (class announcement will be made). No make-up exams are allowed unless there are documented medical reasons.
Topics Covered: (Use the book’s website (www.prenhall.com/ossulivan) for each chapter to practice and for additional l information; Also, see the Giannaros website for some problem sets etc)
O'Sullivan Chapters 1, 2 (review)
Read and practice carefully the Appendix: Using Graphs and Formulas in Chapter 1
Alternative Economic Systems.
O'Sullivan Chapter 3 (review)
O'Sullivan Chapter 4 (review)
Play economic detective---Solve the three economic Mysteries (Poultry, Cocaine
and Health Care) on page 84-88
O'Sullivan Chapter 5
Appendix: Other Elasticities of Demand
Play Economic Detective: The video elasticity mystery, p 108
O'Sullivan Chapters 6
Play economic detective---The case of the cheap salon, p.131
O'Sullivan Chapter 7
Analyze: Gasoline or Gasohol?, p153
O'Sullivan Chapter 8
Play economic detective-"The cost of pencils", p. 172
O'Sullivan Chapter 9
Play economic detective-"The turnaround artist", p. 192; "Butter Prices", p. 204
O'Sullivan Chapters 10, 11, 12
Play economic detective: A decrease in demand decreases prices, p. 228; How many gas stations, p. 242? ; Ballpoint Pens, p. 276
O’Sullivan Chapter 13 and 14
Play economic detective: Why hardcover books so expensive?, p. 279; The missing ads for generic drugs, p. 282; Check the Yellow Pages, p. 299.
O'Sullivan Chapter 15 & 16
Play economic detective: "The mystery of the Three-Clock Tower", p 312;
"No market for marketable permits", p. 339
O'Sullivan Ch 18, 19 (degree of in-class coverage depends on time availability)
Play economic detective: "Higher wages at Ford Motor Company", p. 389 and "Wages of College and High-School Graduates", p. 404
O'Sullivan Chapter 20 (Degree of in class coverage depends on time availability)
Play economic detective - " NAFTA and the giant sucking sound", p. 426.
If you have been diagnosed with a disability and you require reasonable accommodations, you must make an appointment with the Director of Student Services at 768-4260. Documentation must be presented so that you may be referred to the appropriate office for these accommodations. All information is kept strictly confidential.
Academic Honesty Statement from The Source and Manual of Academic Policies and Procedures:
C. Students are forbidden to submit as their own any project, paper, or creative work which is in whole or part the work of another.
D. The use of a term paper writing service, such services being prohibited by Connecticut law, is academically dishonest and violate rules of scholarship.
Action to be taken in event of an alleged act of academic dishonesty
© that the student be dismissed from the university.
Guidelines on Student Conduct
In an effort to create an environment that is conducive to learning, the following guidelines are presented to make explicit expectations that the Barney School has for students in its classes. Students are expected to
The Source also specifies the following acts as punishable misconduct and subject to Judicial Review.