Syllabus for prin. of micro



Department of Economics Dr. Sahar Hassanin

Office: Rich Memorial Building Rm 214-A

Principles of Microeconomics

(ECON 101-001) Telephone: 727-7222

Class Meeting Tim: TThF : 11:00-12:00

Office Hours:

Tuesday and Thursday 2:00 - 4:00, or by appointment

Textbook

Mankiw, Gregory N., (2015), Principles of Microeconomics, Dryden Press,.7th edition, required.

Recommended: Web Sites for the textbook:



This is a very useful web site that includes application cases, news stories, links, and quizzes related to each chapter. I strongly urge you to integrate it into your readings.)

Overview

The objective of the course is to familiarize students with the way market economies function. Specifically, we cover the theory of consumer behavior, theory of firm, supply and demand determination, and various market structures. We also analyze the labor market and the impact of public policies on market outcomes. In addition, we cover a host of concepts related to market failure such as the existence of externalities, public goods, and common resources, etc. and explore the conditions under which government intervention or private solutions contribute to improving market outcomes in these cases.

Examinations and Grading Policy:

30%: Exam I: Tuesday, February 14, 2017

30%: Exam II: Friday, March 24, 2017

30%: Exam III: (Final Exam) Monday, May 1, 2017.

10% the sum of grades of three turn-in problem sets and class attendance. Attendance is required and significantly improves your grasp of concepts. (I will not take regularly, but random pop quizzes will be used to document attendance)

- You must bring your student ID to all exams, NO EXCEPTIONS

- Failure to take an exam will lead to a score of zero for that test. NO EXCEPTIONS.

- In case of a medical emergency that leads to failing to take ONE of the three exams, written verification will be required to give the student a make-up exam. NO EXCEPTIONS.

- No letter grade will be assigned to individual exams, however class average and standard deviation will be announced after each exam is graded

Assignment Policy:

Three turn-in problem sets:

You are expected to turn in the three problem sets corresponding to each of the three course sections. I recommend that you complete sections of these problem sets as we complete corresponding chapters and not do the whole set right before the due date. This approach evens out the work required to complete the set as well as gives you a chance to use a solid understanding of material to build on further concepts. Economics requires gradual learning, yet once you acquire the right intuition for it, it does not represent a highly demanding class.

For obvious reasons, no answer keys will be provided for these sets prior to due date. Solutions will be made available right after the due date, which will typically be a class before an upcoming exam. An additional incentive to make sure you have used these assignments to prepare for exams!!

For the three problem sets, I expect that you work individually and observe honor code principles. Any indication that collective work is being submitted will subject to all parties involved to losing any credit for the set in question.

Chapter multiple choice and short answer review question sets:

You will not be required to submit chapter review MCQ and short answer question sets but you must use these sets to ensure full understanding of the material. At the end of each chapter review set you will find an answer key. Try the problems first without consulting the answer key, figure out difference in answers and assess your understanding of particular concepts or sections. You can discuss them with me in office hours. You can work with classmates on the chapter review questions since the whole purpose is to provide you with practice material.

If you choose to do Aplia practice problem sets, these do not count towards your assignments grade but will give me an opportunity to assess which concepts represent difficulty for students.

Course grades are not curved: Letter grade ranges are as follows: 60-69 is D, 70-79 is C, 80-89 is B and 90 and up is A. Plus or minus signs will indicate a 2-point deviation from the cutoff point (for example a score of 90 or 91 percent will be an A- while a score of 88 or 89 will be a B+, etc.).

Recommended study strategy:

Before each class, brief lecture notes will be posted on Blackboard as a Power Point attachments. Look over the assigned material before class and read it carefully after the lecture.

The posted notes should not encourage you to skip class, as they are incomplete. Print these and bring to class to fill in the blanks.

Use the PowerPoint Presentations as the basis for taking additional notes. To avoid wasting paper and color ink, print the slides in handout and black and white mode.

Take time to do the chapter review MCQ and short answer question sets on a regular basis. They are a good means of judging the depth of your understanding of concepts.

Exams will cover the assigned textbook reading for each class emphasizing, but not exclusively, the core material discussed in the lectures in addition to the concepts that both types of problem sets highlight.

Therefore, it is important that you utilize all these media in preparation for exams and, more importantly, to have a good exposure to economics especially if you consider it as a potential field for your major.

Please discuss with me any problems you may have in the course or any suggestions to improve the course.

Class Attendance Guidelines

While I require attendance to give students incentives to benefit from the material explained and from class discussion, I will not allow a student’s attendance to be a source of disturbance to others. So, make sure you follow these rules:

- Be on time. Late arrival to the lecture will not be allowed.

- Turn your mobile phone and other electronic gadgets off before you enter class.

- Participate in class discussions, that enriches the experience for everybody.

- Benefit from the lecture, be attentive, and take detailed notes.

Honor Code Reminder

“The honor code is in effect throughout the semester. By taking this course, you affirm that it is a violation of the code to cheat on exams, to plagiarize, to deviate from the teacher’s instructions about collaboration on work that is submitted for grades, to give false information to a faculty member, and to undertake any other form of academic misconduct. You agree that the teacher is entitled to move you to another seat during examinations, without explanation. You also affirm that if you witness others violating the code you have a duty to report them to the honor council.”

Canvas

Canvas is a communication medium used to make announcements, distribute handouts and lectures, post reading material, collect assignments, and record and distribute grades. To get Canvas main page go to . Using your student e-mail ID and Password, you will find Econ 101 as one of your courses. If you cannot log in, or for any problems or questions, contact classes@emory.edu

There are several navigation buttons on the left that we use to organize and classify information. Among these are

Announcements used to make various announcements. Please read this section regularly.

Syllabus used to post syllabus.

Files used to post student handouts and lecture PowerPoint notes

Assignments used to post chapter multiple choice and problem sets and problem set answers.

Discussion Board used to post comments and conduct virtual discussion as needed for

administrative, reading- or homework-related issues.

Lecture Schedule and Readings:

I will try to adhere to the following schedule as much as possible. However, class discussion may cause some delays. Exam dates are fixed in order for you to plan your exam preparation time in advance. If some material ends up not covered according to schedule I will postpone uncovered parts to the following section of the course.

Assigned Reading: Skim over each reading material before it is discussed in class and then read it carefully after it is covered in class.

Lecture handouts: Complete these from the lecture and make sure you have a good sense of what is important from lecture emphasis. Do not hesitate to come to me for clarification or questions.

I- Economic Concepts, Production Possibility Curve, Comparative Advantage and Gains from Trade

Classes #1 and # 2: Chapter 1: Ten Principles of Economics (Jan 10, 12)

Reading Material: Mankiw Chapters 1

Homework: Chapter 1 problems in MCQ and short answer questions and in Problem Set # 1.

Class #3 & #4:. Chapter 2: Thinking like an Economist (Jan 13, 17)

Reading Material: Mankiw Chapter 2

Homework: Chapter 2 problems in MCQ and short answer questions and in Problem Set # 1.

Class #5 & #6:. Chapter 3: Interdependence and gains from trade (Jan 19, 20)

Reading Material: Mankiw Chapter 3

Homework: Chapter 3 problems in MCQ and short answer questions and in Problem Set # 1.

II- Demand Supply, Equilibrium, Disequilibrium, and Elasticity

Class #7 & #8:. Chapter 4: The Market Forces of Supply and Demand (Jan 24, 26)

Reading Material: Mankiw Chapter 4

Homework: Chapter 4 problems in MCQ and short answer questions and in Problem Set # 1.

Class #9 and #10:.Chapter 5: Elasticity and Application (Jan 27, 31)

Reading Material: Mankiw Chapter 5

Homework: Chapter 5 problems in MCQ and short answer questions and in Problem Set # 1. .

Class # 11 and # 12: Chapter 6: Supply, Demand, and Government Policy (Feb 2, 3)

Reading Material: Mankiw Chapter 6

Homework: Chapter 6 problems in MCQ and short answer questions and in Problem Set # 1.

Class # 13 and # 14: Chapter 7: Consumers, Producers, and Efficiency of Markets (Feb 7, 9)

Reading Material: Mankiw Chapter 7

Homework: Chapter 7 problems in MCQ and short answer questions and in Problem Set # 1.

Class # 15: Review Session (Feb 10)

Deadline for Submitting of Problem Set 1

Class # 16: Exam 1 (Feb 14)

Exam I covers the material discussed in classes #1 through #14

III- Consumer and Producer Surplus Applications, Market Efficiency, and Introducing Cost Concepts

Class #17, # 18: Chapter 8:.Application: The Costs of Taxation (Feb 16, 17)

Reading Material: Mankiw Chapter 8

Homework: Chapter 8 problems in MCQ and short answer questions and in Problem Set # 2.

Class #19, # 20: Chapter 9:.Application: International Trade (Feb 21, 23)

Reading Material: Mankiw Chapter 9

Homework: Chapter 9 problems in MCQ and short answer questions and in Problem Set # 2.

Class #21, # 22: Chapter 10:. Externalities (Feb 24, 28)

Reading Material: Mankiw Chapter 10

Homework: Chapter 10 problems in MCQ and short answer questions and in Problem Set # 2.

Class #23, # 24: Chapter 11:. Public Goods and Common Resources (March 2, 3)

Reading Material: Mankiw Chapter 11

Homework: Chapter 11 problems in MCQ and short answer questions and in Problem Set # 2.

Class #25, # 26: Chapter 13:. The Costs of Production (March 14, 16)

Reading Material: Mankiw Chapter 13

Homework: Chapter 13 problems in MCQ and short answer questions and in Problem Set # 2.

IV- Perfect Competition, Monopoly, Monopolistic Competition, and Oligopoly

Class #27, # 28: Chapter 14: Firms in Competitive Markets. (March 17, 21)

Reading Material: Mankiw Chapter 14

Homework: Chapter 14 problems in MCQ and short answer questions and in Problem Set # 2.

Class # 29: Review Session (March 23)

Deadline for Submitting of Problem Set 2

Class # 30: Exam 2 (March 24)

Exam 2 covers the material discussed in classes #17 through #29

Class #31, # 32: Chapter 15: Monopoly (March 28, 30)

Reading Material: Mankiw Chapter 15

Homework: Chapter 15 problems in MCQ and short answer questions and in Problem Set # 3.

Class #33, # 34: Chapter 16: Monopolistic Competition (March 31, April 4)

Reading Material: Mankiw Chapter 16

Homework: Chapter 16 problems in MCQ and short answer questions and in Problem Set # 3.

Class #35, # 36: Chapter 17: Oligopoly (April 6, 7)

Reading Material: Mankiw Chapter 17

Homework: Chapter 17 problems in MCQ and short answer questions and in Problem Set # 3.

V- Markets for Factors of Production and the Theory of Consumer Choice

Class #37 & # 38: Chapter 18: The Markets for Factors of Production (April 11,13)

Reading Material: Mankiw Chapter 18

Homework: Chapter 18 problems in MCQ and short answer questions and in Problem Set # 3.

Class #39, & #40 &: Chapter 21: The Theory of Consumer Choice (April 14,18)

Reading Material: Mankiw Chapter 21

Homework: Chapter 21problems in MCQ and short answer questions and in Problem Set # 3.

Class #41: Chapter 19: Earnings and Discrimination (April 20)

Reading Material: Mankiw Chapter 21

Homework: Chapter 20 problems in MCQ and short answer questions and in Problem Set # 3.

Class # 42: Review Session (April 21)

Deadline for Submitting of Problem Set 3

Class # 43: Exam 3 (May 1)

Exam 3 covers the material discussed in classes #31 through # 42

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Done!! Have a Happy Summer Vacation,.

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