ࡱ> _ )bjbj 7bb!+  vvvvv8FDy8 7777777$[: =~8v8vv 38Rvv 77/|1TP,D7R07I80y8$0==$11&=v4188xy8= <: Intermediate Microeconomics, Fall 2011 Economics 310 Dr. Niklas Hunter Office: Sage Hall 2042 E-mail: niklas.hunter@csuci.edu Office hours: T 3:00-4:15pm, R 3:00 4:15pm Class time: Class location: R 6:00-8:50pm Bell Tower 2424 In-class exam 1: Thursday, 6 Oct. (in class) In-class exam 2: Thursday, 17 Nov. (in class) Final exam: Thursday, 15 Dec. 7:00 9:00 pm Course website:  HYPERLINK "http://csuci.blackboard.com" http://csuci.blackboard.com Required text: Intermediate Microeconomics and Its Application by Nicholson & Snyder (11th edition, South-Western, 2008) Text website: http://websites.swlearning.com/ Grading system Your grade for the course is based on homework and exams in the following way: TaskPercent of gradeHomework assignments 10Exam 1 20Exam 2 20Group Presentation10Final exam 40 Grades for total points from the homework and exams will be assigned according to the following distribution: 90%-100%: A+, A, A- 80%-89%: B+, B, B- 70%-79%: C+, C, C- 60%-69%: D+, D, D- 0%-59%: F I may also adjust the scores to account for the difficulty of the exams. For example, if few people get a final score above 90% because of difficult exams, then I will give out more As to account for difficultly of the exams. In this case, I typically assign a median (midpoint) grade of a B-/C+. Exams There will be no make-up exams, so if you can not attend class on the day of the in-class exams or you can not attend the final exam, please do not enroll in this course for a grade. You are welcome to take the course for a pass-fail grade. Exams will include multiple choice and short-answer questions focused on the lecture notes, textbook and homework. The final exam questions will be concentrated heavily on material covered after the second in-class exam, but will also include some earlier material. Homework assignments There are six homework assignments each equally weighted. Homework assignments will vary between i)multiple choice, ii) quantitative/short answer and iii)essay questions. These are designed to keep you from falling behind, and prepare you for the exams (as opposed to being busy work). Late homework will not be accepted. Some of the homework assignments will be turned in electronically via blackboard. However, several homework assignments must be handed in during the beginning of class on the date it is due. You may submit a homework assignment early, but never late. I will drop your lowest HW score. In other words, I will only count your best five homework scores. Group Presentations: Students should form a group of up to 3 members and select a single chapter from the list on the course schedule. Each group will present review session material for one of the 3 exams. Your groups presentation will occur in lecture on either Sept. 29th (the lecture before midterm1), Nov. 10th (the lecture before midterm2), or on Dec 8th (the lecture before the final exam). The presentation should be approximately 10-15 minutes, and should include visual aids. Which date you present depends on the chapter your group selects. The chapters are available on a first come- first serve basis. The presentation is mandatory, and the group members and the chapter must be selected by Sept. 15th. Past examples include Jeopardy style games, PowerPoint presentations with a pop quiz, Water pong, crossword puzzles, and movies (to name a few). Be creative. Have fun. Learning is so much easier when you enjoy it. The idea for this presentation is for you (and your group members) to become experts on your selected chapter, and help your classmates prepare for the associated exam by presenting the material in an interactive method. Class participation Regular class participation can help your grade if you are on the borderline between two grades. For example, if you are at the cutoff between a B+/A-, regular class participation would boost your grade to an A-. Course overview This course will study several topics in microeconomics, alternatively called price theory. In particular, we will examine the extent to which prices measure value that society places on resources. The course begins naturally with consumer theory; the main objective in this section is to compose a formal model of how consumers like you and I make choices among our unlimited wants given the various constraints we are faced with during the decision-making process. The next section of the course examines the theory of the firm. Much like a consumer, a producer makes choices in order to achieve its own set of objectives under a different set of constraints it faces during the decision making process. The course examines the gains to trade for both consumers and producers in various types of markets. Finally, in the last section, the course examines the effects on market participants from the existence of monopolies, cartels, and poorly managed public goods. Our class time will include lecture and in-class discussion. Lecture material will be based on the material from the textbook, so it is good to read the text before or shortly after class. Student Learning Objectives: Explain the economic behavior of households and individual firms Describe and apply the scientific method to economic behavior Apply the principles of supply and demand to determine prices and identify the factors that affect supply and demand Describe and distinguish between various forms of market structures Evaluate the costs and benefits of alternative forms of public policy Course Prerequisites: ECON 110, ECON 111 and MATH 140 (or 150). Economics is a social science. However, we use many quantitative methods in order to understand the choices people make. For ECON 310, a previous course in multivariate calculus is crucial. Understanding derivatives as rates of change in the physical sense, and as slopes in the graphical sense, is necessary in order to use many of the economic tools we develop. Although you do not need to review the most advanced chapters of your previous calculus textbook (i.e. integrals, differential equations, etc), at the very minimum, you must be able to understand and manipulate mathematical functions and take derivatives of functions. Specifically, you must be able to take the partial derivative of a bivariate function. I will spend part of the first lecture to help you review some of the more common functions and formulas we use throughout the course. Cheating Don't cheat. If I catch you looking at someone else's exam or at notes during an exam, you will receive an F for the exam. Any case of cheating will be referred to Judicial Affairs. Working with fellow students on homework assignments, however, is not cheating and is encouraged. Disability Accommodations Cal State Channel Islands is committed to equal educational opportunities for qualified students with disabilities in compliance with Section 504 of the Federal Rehabilitation Act of 1973 and the Americans with Disabilities Act (ADA) of 1990. The mission of Disability Accommodation Services is to assist students with disabilities to realize their academic and personal potential. Students with physical, learning, or other disabilities are encouraged to contact the Disability Accommodation Services office at (805) 437-8510 for personal assistance and accommodations. DateLecture topicAssigned readingHW Due1 Sept.Introduction, Economic ModelsChapter 18 Sept.Utility and ChoiceChapter 215 Sept.Utility and ChoiceChapter 2HW122 Sept.Demand CurvesChapter 329 Sept.Demand Curves and Group Presentations/Review SessionChapter 3HW26 Oct.Midterm1 during first half. Lecture on Production during 2nd half .Midterm1: Ch. 1, 2, and 3 only. Lecture material: Chapter 613 Oct.Production and pass back midterm1.Chapter 620 Oct.CostsChapter 7HW327 Oct.Profit Maximization and SupplyChapter 83 Nov.MonopolyChapter 11HW410 Nov.Monopoly and Group Presentations/Review Session.Chapter 1117 Nov.Midterm2 during 1st half. Lecture on Imperfect Competition during 2nd half.Midterm2: Ch. 6, 7, 8 and 11 only. Lecture material: Chapter 12.1 DecImperfect Competition and hand back midterm2.Chapter 12HW58 DecExternalities & Public Goods And Group Presentations/Review Session.Chapter 16HW615 DecFinal Exam (7:00 9:00pm) Cumulative This schedule is subject to change at any time during the semester.      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