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Principles of Microeconomics EC 211 |
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CRN#18915
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Class Days and hours |
Monday,
Wednesday |
Spring 2006 |
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Class Location |
A323 |
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Instructor |
Dr. Jeffrey
P. Cohen |
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Office |
Location: |
A412C |
Office Phone: |
860-768-4834 |
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E-mail*: |
Fax Number: |
860-768-4911 |
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Homepage: http://uhaweb.hartford.edu/jcohen |
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Office Hours |
Monday:3:00pm – 4:45pm |
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*NOTE: e-mail is a good way to get a message to me with a response!!
Texts:
REQUIRED
TEXT**:
Mankiw, N. Gregory, Principles of Microeconomics, 3rd edition, Thompson Southwestern, 2004.
**See also the
book’s website (http://mankiw.swlearning.com) for more
information & exercises.
OPTIONAL (but highly recommended!):
Hakes, David R., Study Guide, Principles
of Microeconomics, 3rd edition, Thompson Southwestern, 2004.
The Wall Street Journal (note that you
can sign up for a semester long subscription at a special rate).
Course Description:
EC 211-Principles of Microeconomics (3
credits)—
This
is an introductory course in microeconomics.
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.
Course Objectives
Upon completion of the course the student should be
able to:
-Apply economic reasoning to real-world issues.
-Understand the basic principles of microeconomics,
including the marginal principle, perfectly competitive markets, monopoly, and
oligopoly, and be able to cite real-world examples of each.
-Understand market processes and effects of government
intervention, and use supply and demand concepts to analyze the effect on
market prices.
Grading: EVALUATION AND
GRADING*:
Three Quizzes (5% each; lowest quiz grade will be dropped) 10%
Two Midterm Exams (25% each) 50%
Final Exam 25%
Homework Assignments 10%
Attendance 5%
Dates for exams and quizzes:
Quiz I: Wednesday, February 15
midterm exam I: Wednesday, February 22
Quiz II: Wednesday, March 29
midterm exam II: Wednesday, April 5
Quiz III: Wednesday, May 3
Final exam Wednesday, May 10, 6:15 pm – 7:25 pm
Homework assignments – given throughout the semester
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 (http://mankiw.swlearning.com). 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, Business Week, or similar sources. Some of the articles in the Journal or Newspapers will be used for class discussion and application of the concepts.
*
NOTE: This syllabus is a guide
only and may be revised or deviated from as deemed necessary by the course
instructor. No make-up exams are allowed unless there is a documented
medical or religious reason, and the instructor must be informed and
documentation presented in advance.
Attendance Policy:
You are required to attend and be on time for all classes. All homework must be handed in on time, even if you have to miss the class when it is due. Class attendance will be a factor in determining course grades. The course requires regular class attendance. If you miss more than two weeks worth of classes, you may be dropped from the course. However, if you decide to withdraw from the course, it is your responsibility to fill out the appropriate paperwork with the registrar’s office.
Contextual
Coverage:
Ethics:
Not covered specifically.
Global: Current event, global examples/ applications
and theory discussed.
Political,
social, legal, regulatory and environmental: Substantial discussion in
connection to market structures, pricing and public policy
Technological: Use of the Internet.
Demographic
diversity: Some references in the context of labor markets and wages.
Communication
skills: Significant portion of exams is written.
Disability
Guidelines
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:
B. All students are expected to observe generally accepted principles of scholarly writing in all examinations, compositions, papers, essays, tests, quizzes, reports and dissertations whether written in the classroom or outside. Sources of information used by a student in the preparation of work submitted as a basis for credit, or for a grade, or to satisfy graduate or undergraduate thesis requirements shall be clearly indicated in some conventional manner, such as by the use of quotation marks, footnotes, and bibliography.
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
E. All examinations and quizzes are to be completed without reference to books or notes, except when the instructor of a course shall have given explicit authorization for an “open-book examination” or some other specified sort of assistance. Except as authorized by the instructor, no student is to give or receive assistance in the completion of an examination or a quiz.
Action to be taken in event of an alleged act of academic dishonesty
L. 2. To report that the student is considered to be guilty of the alleged violation beyond a reasonable doubt, and to recommend one or more of the following:
(a) that the student be dropped from the course and/or a grade of “F” be assigned.
(b) that the student be suspended (I) for the remainder of the current semester, losing credit for their current academic program, or (ii) for the following semester or year;
(c) 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
1. Follow the
Academic Honesty Policy without fail.
2. Respect
differing views on campus and to engage in responsible discussion with others
with whom you do not agree.
3. Regularly
attend classes and submit assignments on or before specified deadlines.
4. Prepare for
each class by completing reading assignments, homework and/or case preparation.
5. Not bring food
and drink into the classroom unless instructor approval is given.
6. Raise a hand
if you wish to speak or be excused from the classroom. Students are not permitted to get up and
leave at will.
7. Act in a
reasonable manner in the classroom and halls so as not to disrupt others.
8. Dispose of
gum, trash and paper in designated receptacles.
Do not leave trash in the stairwells, classrooms, desktops or any other
non-designated receptacle.
9. See professors
during their regularly scheduled office hours or by appointment. Office hours are posted on each professor’s
door.
10. Take exams
when they are scheduled unless you have been excused on official university
business, such as participation in athletic events, or medical emergency
(notifying your professor prior to the exam).
11. Immediately
contact professors if you will miss or have missed a class or exam and also to
make up what you have missed.
The
Source
also specifies the following acts as punishable misconduct and subject to
Judicial Review.
a.
Damage, destruction or theft of University property;
b.
Deliberate interference with any class or University
function;
c.
Refusal to vacate a building;
d.
Tampering with fire alarms or fire-fighting equipment;
e.
Possession or use of a dangerous article;
f.
Illegal or unauthorized entry or presence in a facility;
g.
Alcohol – no possession or use in class;
h.
Noise and general disorderliness;
i.
Providing false information to a University office;
j.
Acting with violence;
k.
Failure to respond to a reasonable request and to produce
identification;
l.
Possession, use or storage of drugs and drug paraphernalia;
m.
Abuse of computer access – incl. Copying software;
n.
Visitors – you are responsible for the actions of your
visitors.
SEMESTER OUTLINE
Topics Covered: (Use the book’s website (http://mankiw.swlearning.com) and the Study Guide for
each chapter to practice and for additional
information)
**Students are expected to
follow along with the regularly assigned readings in the Mankiw text, since
these readings will form the basis for much of the class discussions. **
I.
Introduction
Mankiw, Chapters 1, 2, 3
Read and practice carefully the Chapter 2 Appendix: Graphing: A Brief Review
II. Supply and Demand I: How Markets Work
Mankiw, Chapters 4, 5, 6
III. Supply and Demand II: Markets and Welfare
Mankiw, Chapters 7, 8, 9
IV.
The
Economics of the Public Sector
Mankiw, Chapters 10, 11, 12
V.
Firm
Behavior and the Organization of Industry
Mankiw, Chapters 13, 14, 15, 16
VI.
The
Economics of Labor Markets
Mankiw, Chapters 18, 19, 20