Introduction to Microeconomics (Fall 2006)

This course is an introduction to microeconomics. We will become familiar with the mode of reasoning in economics as we analyze the working of a market economy, especially the US. This study will enable us (1) to understand what economics is and what economists do, and (2) to gain a frame of analysis for a critical understanding of the scope and nature of current issues in the American economy and the controversies that surround them.

Office Hours

• MW: 10:30-11:20 & 12:30-13:30
• F: 10:30-11:20
• And by appointment. (You are always welcome to drop in.)

Students who need an accommodation based on the impact of a disability should contact me privately as soon as possible. I rely on the communication from Office of Academic Support (104 Doane) to make the necessary accommodation.

Readings

The required readings are:

• Textbook: Campbell R. McConnell and Stanley L. Brue, Microeconomics, 15th edition, McGraw-Hill, 2005.
• World economic news:
  Google http://www.news.google.com
  Yahoo http://news.yahoo.com
  CNN http://www.cnn.com
  BBC http://news.bbc.co.uk
• Other readings will be handed out in class.

Readings for each class are expected to be read BEFORE class.

Schedule of Exams and Assignments

• Quizzes, Fridays except when we have exams
• World Economic News, Wednesdays
• Hourly Exam I, Friday, September 29
• Hourly Exam II, Friday, October 27
• Hourly Exam III, Friday, December 1
• Final Exam, Sec. 1 on Monday, December 11 (6:30-8:30 pm) & Sec. 2 on Tuesday, December 12 (9:00-11:00 am)

Attendence

Attendance: Regular attendance is required. I expect you in class in body and soul every class day, and on time!

Requirements and Grades

Grandes will be given on the following basis:

• Hourly exam I 100 points
• Hourly exam II 100 points
• Hourly exam III 100 points
• Quizzes, about 8 @ 10 points each
• Class contribution* 75
• Final exam 150

---

• Total** 605

* The grade for class contribution is not for attendance. It is for your thoughtful and active participation in class discussions.

** Occasional pop quizzes (5 to 10 points each) may be given. The grade for pop quizzes will be added to the total points for the course.

Exams

Exams will consist of short essays and problems. All exams are comprehensive (i.e., they are over the material covered in the course up to the time of the exam).

Quizzes

On Fridays, at the beginning of class we will have a 5 minute quiz. One or two questions will be asked. If you come late to class, you will miss the quiz. Anyone is allowed to miss one quiz, no questions asked. If you take all quizzes, the lowest quiz grade will be dropped. No make-up quizzes will be given.

World Economic News

On Wednesdays we will spend a part of our class examining the economic news of the world. Every student should be ready to present to the class an analysis of an economic issue that has appeared in one of the assigned sources (Google, Yahoo, CNN or BBC). The source article should be no more than two days old (as the date on the article indicates). Names will be drawn for class presentations. Therefore, everyone has equal chance of being called for presentation on any Wednesday (i.e., presenting the news this week will not change your chance of being called next week). You must bring a printed copy of the article to class. Those who present the news will give me a copy of their source article. Your grade for presentation will be a part of the grade for “class contribution”.

Course Outline

The Working of the Market: MICROECONOMICS and the dynamics of capital accumulation

When/why did we start calling all this Microeconomics?

THAT IS IT!!