PRINCIPLES OF MICROECONOMICS



PRINCIPLES OF MICROECONOMICS

ECONOMICS 2302

SPRING SEMESTER 2003

INSTRUCTOR: DR. CHARLES AKI

COURSE GUIDE

CLASS SCHEDULE AND OFFICE HOURS

ECONOMICS 2302, SEC 46927

CLASS SCHEDULE: TUESDAY, 7:05PM – 9:45PM, NRG 2117

OFFICE HOURS: TUESDAY, 6:30PM – 7:00PM (NORTHRIDGE, RM 2111)

WEDNESDAY, 6:30PM – 7:00PM (CYPRESS CREEK, PORT BLDG 3)

TEL: 512-463-9214; E-MAIL: charlesaki@

TEXTBOOK: PRINCIPLES OF MICROECONOMICS, 2ND ED., BY N. GREGORY MANKIW

PURPOSE OF COURSE

In this course, we will examine economics in general and microeconomics, in particular. By the end of the course, you will understand the relevance of major economic concepts to you. We will introduce such concepts as scarcity, choice and opportunity costs. We will examine how and why consumers and producers make choices. We will look at the implications of societal choices for opportunity cost, utility and profit maximization, and efficiency. We will explore the behavior of firms and households under different market conditions, such as perfect competition, monopoly, monopolistic competition, and oligopoly. Finally, we will examine pricing and resource utilization behavior in markets for resources, such as labor, capital, and natural resources.

CLASS PROCEDURE

The class schedule is attached. In the schedule you will find the required reading in the textbook for each week. Read the material before each class time. You are required to submit an outline of each week’s required reading every Tuesday. You will earn 10 points for each outline that is properly turned in. All 12 outlines will yield a total of 120 points, equivalent to 12 percent of the course grade. There will be one

mid-term exam (worth 40%) and one final exam (worth 40%). To help you review for these exams, there will be two quizzes, each worth 40 points (for a combined 80 points or 8%).

ATTENDANCE

You are required to adhere strictly to all college requirements for attendance. Serious absences, excused or not, are grounds for withdrawal or receiving a failing grade. All absences must be cleared with me.

GRADING POLICY

Please refer to the Student Handbook for ACC’s complete grading system. I will assign grades of A, B, C, D, F or I in this course. The following scales and weights will be applied:

GRADE SCALE POINTS WEIGHTS

A = 90 – 100 MID-TERM EXAM 400 (40%)

B = 80 – 89 FINAL EXAM 400 (40%)

C = 70 – 79 WEEKLY OUTLINES 120 (12%)

D = 60 – 69 REVIEW QUIZZES 80 ( 8%)

F = Below 60

TOTAL = 1000 (100%)

PRINCIPLES OF MICROECONOMICS

ECONOMICS 2302

SPRING SEMESTER 2003

INSTRUCTOR: DR. CHARLES AKI

COURSE SCHEDULE

DATES TOPICS MATERIAL

Jan 14 – Jan 21 Ten Principles of Economics Chapter 1

Thinking Like an Economist Chapter 2

Jan 28 Interdependence & The Gains from Trade Chapter 3

Feb 4 The Market Forces of Supply & Demand Chapter 4

Feb 11 Elasticity & Its Applications Chapter 5

Feb 18 Supply, Demand & Government Policies Chapter 6

Feb 18 Review Quiz (Chapters 1 – 6)

Feb 25 In-Class Review for Mid-term Exam

March 4 MID-TERM EXAMINATION (Chapters 1 – 6)

March 11 SPRING BREAK (NO CLASS)

Mar 18 The Costs of Production Chapter 13

Mar 25 Firms in Competitive Markets Chapter 14

Apr 1 Monopoly Chapter 15

Apr 8 Oligopoly Chapter 16

Apr 15 Monopolistic Competition Chapter 17

Apr 22 Markets for Factors of Production Chapter 18

Apr 22 Review Quiz (Chapters 13 – 18)

April 29 In-Class Review for Final Exam

May 6 FINAL EXAMINATION (Chapters 13-18)

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