UNIVERSITY OF ALBERTA School of Business
Department of Marketing, Business Economics and Law
BUEC 311 B1 – BUS 2-9 (M,W,F, 9:00-9:50am) Winter Term, 2006 Instructor: Kevin J. Birn, B.com
Office: Sessional Office HUB Mall (the fishbowl) E-mail: [email protected] Office Hours: Tues, Thurs 11:00am – 12:30pm (all other times by appointment only)
Course Objectives:
1. To solidify and expand one’s knowledge of microeconomics.
2. To gain an appreciation of the market system, its strengths and weaknesses, and some policy implications thereof.
3. To be able to interpret micro-economic events as reported in the media, and to understand related policy issues.
Reading Material:
Pindyck, Robert S., and Daniel L. Rubinfeld, Microeconomics, 6th edition.
The lectures form the basis of the course and should provide an idea of the relative importance of particular topics. The textbook serves as reference or back-up material, although you will probably find many of its graphs and questions helpful. There may be additional material provided through handouts or on Blackboard.
Attendance is not required but you are responsible for keeping up to date on the course material and the assignment due dates, content, etc.
Allocation of Grades:
3 Assignments (5 % each) 15%
2 Mid-term Exam (at 20% each) 40%
Final 45%
Total 100%
* Late assignments will be decreased by 10% for each day late.
The final grades in the course will be based roughly on the following schedule:
Overall %
Grade
95%-100% A+
90%-100% A 85%-89% A- 80%-84% B+
70%-79% B 60%-69% B- 50%-59% C+
University of Alberta BUEC 311
School of Business Winter, 2006
Assignments:
There will be three assignments assigned over the course of this semester. They are due by in class on the date stipulated, which will be clearly marked on each assignment. Late assignments will be penalized by 10% per day.
Students are allowed to work with one other partner on their home work, and if they choose to do so they should hand in only one assignment with both names clearly written on it. Failure to properly author your work could result in a zero.
The solutions will appear on the course web-page (Blackboard), once the assignment has been graded.
Examinations:
In-class midterm examinations will be based primarily on the material covered since the previous exam. The final examination will be comprehensive. All exams are to be written in ink.
Examinations will consist of a combination of multiple choice and long answer questions. Students are responsible for all material covered in class and material from the assigned readings. Assigned readings include chapters referenced in the course outline, and assigned readings from class.
No make up exams will occur for the mid-term. If a midterm is missed and you have an
accompanying medical note the mid-term weight will be automatically added to the final exam. There will be no make-up mid-term under any circumstances.
Should you wish me to re-grade part of an exam or assignment, I will do so, but, I reserve the right to re-grade the entire paper. All such requests are to be submitted within one week of when I return the assignments or exams.
Important Dates:
Assignment #1 – February 3, 2006 Assignment #2 – March 10, 2006 Assignment #3 – April 7, 2006 Midterm #1 – February 10, 2006 Midterm #2 – March 17, 2006
Final Exam – April 20, 2006 (9:00am – 11:00am)
Academic Integrity:
The University of Alberta is committed to the highest standards of academic integrity and honesty.
Students are expected to be familiar with these standards regarding academic honesty and to uphold the policies of the University in this respect. Students are particularly urged to familiarize themselves with the provisions of the Code of Student Behavior (online at
www.ualberta.ca/secretariat/appeals.htm) and avoid any behavior which could potentially result in suspicions of cheating, plagiarism, misrepresentation of facts and/or participation in an offence.
Academic dishonesty is a serious offence and can result in suspension or expulsion from the University.
University of Alberta BUEC 311
School of Business Winter, 2006
Tentative Course Outline:
A. Introduction
1. What is Economics? Chapter 1
2. Supply and Demand Chapter 2
B. The Demand Side
1. Utility and Consumer Behaviour Chapter 3 2. Individual and Market Demand Chapter 4
3. Role of Uncertainty Chapter 5
C. The Supply Side
1. Production Chapter 6
2. Cost Chapter 7
3. Perfect Competition Chapter 8
4. Applications of Competitive Markets Chapter 9
5. Monopoly Chapter 10
6. Pricing with Monopoly Power Chapter 11
7. Monopolistic Competition Chapter 12 (to p. 441) 8. Game Theory and Competitive Strategy Chapter 13
E. Market Failure and Role of Government
1. Asymmetric Information Chapter 17
2. Externalities and Public Goods Chapter 18 D. Resource Markets
1. Markets for Factor Inputs Chapter 14
* More information regarding the readings will be presented as we approach those sections.
