DEPARTMENT OF ECONOMICS

COLORADO STATE UNIVERSITY

EC 102: PRINCIPLES OF MICROECONOMICS

Semester: Summer 1998 Lecture: 6:30-8pm Mondays and Wednesdays

M 6/15-W 8/5 Recitation: 8:10-9pm Mondays and Wednesdays

Room: C142 Clark

Instructor: Dr. A. Bernasek T.A.: Tim Wunder

Office: C325 Clark Office: C309 Clark

Office phone: 491-6856 Office phone: 491- 7236

Office hours: MW 5:30-6:30pm Office hours: MW 5:30-6:30pm

or by appointment or by appointment

email: abernasek@vines.colostate.edu

Texts:

Richard Lipsey and Paul Courant (1996) Microeconomics, 11th edition, Harper Collins. Required.

Dollars and Sense (1996) Real World Micro, 6th Edition, Dollars and Sense Collective. Required.

Nancy Folbre (1996) The New Field Guide to the U.S. Economy, The New Press, New York. Required.

Course Structure:

There is a lecture and a recitation for each class. There will be approximately a 10 minute break between the two.

Lectures: These will cover the core material from the textbook and the books of readings as well as discussion of current economic issues. Students are responsible for the material covered in lectures and for the material covered in the textbook and the book of readings. The lectures will be most useful to you if you have already looked over the relevant material in the texts. A class schedule is included here which tells you what will be covered in each lecture to allow you to do this. The Dollars and Sense readings are to stimulate classroom discussion so I expect you to have read them before coming to class. Tests will given in lectures. The dates of the tests are also given in the class schedule.

Recitations: In these your TA will conduct workshops, collect problem sets, go over answers to problem sets and tests, lead discussions of the readings, occasionally cover new material that is not covered in lectures, show videos, and review material before tests. Recitations are an important part of the course and material covered in recitations will be tested on. As with the lectures, you are expected to read the Dollars and Sense readings before coming to class so you are prepared to discuss them.

Workshops: Questions will be handed out and students will work in groups to answer these questions. Your TA will be available to answer questions and help you with the questions. At the end of the workshop your TA will go over the answers to the questions. These will give you an opportunity to work on material in class and get help along the way if you need it.

Tests and Final Exam: There will be three tests throughout the semester, each one covering a separate section of the course material, then there will be a comprehensive final exam. Each test will be worth 100 points but only your two highest scores will count for your grade. The final exam is mandatory. The final exam is also worth 100 points. The total number of points for tests and the final exam will be 300. The tests will be a combination of multiple choice, true/false, definitions, and essay questions. The final exam will be all multiple choice.

Note: The only absences for tests/final exam and problem sets that will be excused are medical emergencies, family emergencies, and university commitments. Written documentation is required and if possible you should speak to me before the due date.

Problem Sets: There will be three problem sets due the class before the tests are given. Only the two highest scores for these will be counted. Each problem set will be worth 25 points. The total number of points for problem sets will be 50. Problem Sets are to be handed in, in recitations. The due dates for problem sets are in the class schedule. Your TA is not responsible for keeping track of problem sets so make sure you hand them in to the TA directly and pick them up from the TA directly. Late problem sets

will not be accepted because the answers will be given out in class after the problem sets are collected.

Grades: Grades will be determined by your performance on tests and problem sets.

Tests 200 points (2 * 100 points)

Final Exam 100 points

Problem Sets 50 points (2 * 25 points)

Total Points 350 points

The following grade scale will be used as a standard*. You can use the percentages to estimate your grade throughout the course. At the end of the course your grade will be determined by the number of points you have.

Total Points: Percentage:

315-350 A (90 - 100 %)

280-314 B (80 - 89 %)

245-279 C (70 - 79 %)

210-244 D (60 - 69 %)

0-209 F (0 - 59 %)

Note: The purpose of having cut-offs for grades is undermined if people are one or two points away from a higher grade and are given the higher grade. If you are one or two points away from a higher grade you will not be given the higher grade because then everyone in that position will have to get the higher grade and there is no end to that process. So, keep track of your scores and on the basis of the grade scale above you can keep track of your grade. It is your responsibility to keep track of your grade at all times. You should be able to estimate your grade in the class at any time so should know exactly where you stand, and what you have to do to earn the grade you want.

* I reserve the right to widen the grade bands as I deem appropriate.

A WARNING : There is a deadline if you decide that you want to drop this class and there is an official drop procedure that has to be followed - if you just decide to drop but don't do it officially you'll end up with an "F" at the end of the semester.

A Note about Expectations:

There are certain expectations that I have concerning your responsibilities and your behavior in this class that I think need to be stated up-front so that we can minimize any potential misunderstandings throughout the semester.

(1) I expect that you read the syllabus and that you make yourself aware of all the requirements and deadlines associated with the class. Saying "I didn't read the syllabus" will not be accepted as an excuse for failing to meet requirements and deadlines.

(2) I expect that you behave appropriately in class. My job is to teach you in the classroom and I cannot do that effectively if people are talking, reading the newspaper, sleeping, coming in late or leaving early, or in any other way disturbing me or other students in the class. In those situations I lose concentration and so do other students in the classroom. If you don't want to come to class under these conditions then don't come to class. We will engage in discussions in lectures and in recitations so you will have many opportunities to talk about the material you will be learning.

(3) I expect that you will put forth effort in learning the material covered in this class. Although you are not required to attend class you are required to learn the material somehow in order to get a passing grade for the class. Some effort on your part is required to do that whether you come to class or not. You will not pass the class on my effort alone. I expect that you read the readings before coming to class so that you are prepared to discuss them. I expect that you at least look over the assigned chapter(s) in the textbook before each class so that you know what I will be talking about.

(4) I expect that if you are having problems with the class that you will come to talk with me about them. The sooner you come the better is the chance that I can do something to help. If you wait until the end of the session to come to me with problems there is very little chance that I will be bale to do anything to help.

(5) I expect that you behave with honesty and integrity. Cheating is not acceptable behavior under any circumstances, but I believe that is especially true in an academic environment. If you are uncertain as to what constitutes cheating please come and talk with me and I will make that clear. I will not tolerate cheating in my class and anyone caught cheating will receive an automatic F for the class and will be sent to the Office for Student Affairs for possible disciplinary action.

After reading through this syllabus, your decision to take this class is taken to indicate your acceptance of the terms and conditions, and expectations I have outlined here.

In the following class schedule:

(LC) refers to the textbook (Lipsey and Courant)

(D&S) refers to the Dollars and Sense readings; # refers to the article number.

(F) refers to the New Field Guide (Folbre)

Class Schedule:

M June 15 Lecture: Lecture 1 The Economic Problem; (LC) Ch 1

Lecture 2 Economics as a Social Science; (LC) Ch2

Recitation: Lecture 3 Overview of the Market Economy; (LC) Ch3

W June 17 Lecture: Lecture 4 Demand and Supply; (LC) Ch 4

Lecture 5 More Demand and Supply; (LC) Ch 4

Recitation: Workshop 1

M June 22 Lecture: Lecture 6 Elasticity; (LC) Ch 5

Lecture 7 Applications of Supply and Demand; (LC) Ch 6, (D&S) #7, 8, (F) 2.7.

Recitation: Problem Set 1 DUE

W June 24 Review for the Test

TEST 1

M June 29 Lecture: Lecture 8 Theory of Consumer Behavior; (LC) Ch 7, (D&S) #11, 12, (F) 10.13.

Lecture 9 Production and Costs of the Firm in the Short Run; (LC) Ch 8

Recitation: Hand back Test 1 and go over answers

W July 1 Lecture: Lecture 10 More Production and Costs in the SR; (LC) Ch 8

Lecture 11 Production and Costs in the Long Run; (LC) Ch 9

Recitation: Workshop 2

M July 6 Lecture: Lecture 12 Market Structure: An Intro to Perfect Competition; (LC) Ch 10

Lecture 13 Perfect Competition; (LC) Ch 10

Recitation: Problem Set 2 DUE

W July 8 Review for the Test

TEST 2

M July 13 Lecture: Lecture 14 Monopoly; (LC) Ch 11, (D&S) #2, (F) 1.7, 1.9, 1.10, 1.11.

Lecture 15: Imperfect Competition; (LC) Ch 12, (D&S) #22, (F) 9.9.

Recitation: Hand back Test 2 and go over answers

W July 15 Lecture: Lecture 16 Market Structure and Public Policy; (LC) Ch 13, (D&S) #21.

Lecture 17 Firms in the Real World; (LC) Ch 14, (D&S) #20, (F) 9.11, 9.12, 9.13, 9.14, 9.15, 9.16, 10.10.

Recitation: Workshop 3

M July 20 Lecture: Lecture 18 Labor Markets; (LC) Ch 16, (D&S) #5, 24, 25, (F) 2.1, 2.2, 2.3, 2.4, 2.5, 2.8, 2.15, 2.16.

Lecture 19 Labor markets and Discrimination; (LC) Ch 16, (D&S) #35.

Recitation: Problem Set 3 DUE

W July 22 Review for the Test

TEST 3

M July 27 Lecture: Lecture 20 Poverty; (LC) Ch 16, (D&S) #34, (F) 3.9, 3.10, 3.13, 6.4, 6.5, 6.6, 6.7, 6.10.

Lecture 21 Benefits and Costs of Government Intervention; (LC) Ch 18, (D&S) #10, (F) 6.9, 6.13, 6.14, 6.15, 6.16.

Recitation: Hand back Test 3 and go over answers

W July 29 Lecture: Lecture 22 Environmental Regulation; (LC) Ch 19, (D&S) #36, 38, (F)

8.1, 8.3, 8.5, 8.6, 8.9, 8.12, 8.16.

Lecture 23 Taxation and Public Expenditure; (LC) Ch 20, (D&S) #4.

Recitation: Workshop 4

M August 3 Lecture: Lecture 24 International Trade Theory; (LC) Ch 34, (D&S) #40, (F) 10.2,

10.5, 10.8, 10.9, 10.11, 10.12, 10.13.

Lecture 25 International Trade Policy; (LC) Ch 35, (D&S) #42, 43.

Recitation: Workshop 5

W August 5 Review for the final exam

FINAL EXAM