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The University of Alberta Department of Economics
ECONOMICS 101 – SECTION A1
Introduction to MicroeconomicsTuesday/Wednesday/Thursday TL 12 10:30-12:20
Gordon Lee Spring 2014
Office: Tory 8-27
Phone: 780.492-7636 Office Hours: Monday 11:00 – 12:00,
Wednesday 1:30 – 2:30
eMail: [email protected] or by appointment
TEXTBOOK
Required: - Microeconomics Principles and Policy, First Canadian Edition, William Baumol, Alan Binder, Marc Lavoie, and Mario Seccareccia. Nelson Education.
Note that students are required to purchase Aplia.
COURSE OBJECTIVE
An introductory investigation of supply and demand analysis: the theory of production, costs and price determination under competitive and non-competitive market conditions. Emphasis is given to the Canadian mixed economy.
From this description, we can see clearly some of this course’s objectives:
(1) to introduce you to the mechanics of supply and demand as they apply to market operations;
(2) to introduce you to the workings of competitive and non-competitive markets and the policies invoked to control non-competitive markets; and
(3) to develop your understanding of the economic theory and terminology used to describe the behaviour of individual firms and consumers.
Mastery of basic microeconomic concepts is necessary before you can move on to upper level economics and business courses.
However, in the long run, I suspect you may not retain all of the niceties of microeconomic theory. My long-run objective, which is equally important, is to further develop your skills in problem solving and critical thinking.
Hopefully, further developing these skills will provide benefits complementing other areas of your training.
GRADING
“Grades reflect judgments of student achievement made by instructors. These judgments are based on a combination of absolute achievement and relative performance in a class.” [University of Alberta Calendar, Section 23.4(4).]
To give you an idea of what you might expect, here is a distribution reflecting last year’s grades in this course:
Letter
Grade Grade Point
Value Distribution
Percentage Letter
Grade Grade Point
Value Distribution Percentage
A+ 4.0 4% C+ 2.3 12%
A 4.0 6% C 2.0 8%
A- 3.7 7% C- 1.7 7%
B+ 3.3 9% D+ 1.3 5%
B 3.0 14% D 1.0 4%
B- 2.7 14% F 0 10%
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GRADE DISTRIBUTION
Grades are distributed as follows:Assignments 10%
Midterm 1 20%
Midterm 2 20%
FINAL EXAM 50%
ASSIGNMENTS
Assignments will start the week of June 6 and they will count for 10% of the final grade. They will be due on the following dates by 2300 (11:00pm):
Sunday, May 11 Sunday, June 1
Sunday, May 18 Sunday, June 8
Sunday, May 25
Assignments are done on-line in Aplia. They are submitted automatically and graded by Aplia at precisely 2300 (11pm). The instructions for signing on to Aplia are found below in this outline. There are 5 assignments. At the end of the term, I will drop the lowest assignment and use your 4 best.
APLIA
Aplia is the e-learning tool in this class. In order to use Aplia, you must register using the following instructions:
1. Connect to http://econ.aplia.com.
2. Complete the Configuration Test. You must have JavaScript and Flash 6 or later to use the site.
If you don’t, the configuration test will tell you and instructions will follow.
3. Return to the Sign-In page and click “Register Here”.
4. You will be prompted to enter your University of Alberta eMail address and password. Please note that you must use your University of Alberta eMail address; no hotmail or anything else is acceptable.
5. You will then be asked to enter your course key: H93D-4YW2-EELQ
6. You will have received an Aplia Payment Code for this course. It cam packaged with your textbook. You must use this code when you are prompted for payment. Please remember that once opened, payment codes are not refundable.
7. You only need to register once. After the registration process is complete, you will not need to enter the course key or the payment code again. You will just log in with your University of Alberta eMail address and password.
If you have questions about registering or using the Aplia website, please contact Aplia by clicking the Aplia Support link at the bottom of any Aplia page or by eMailing [email protected].
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EXAMS
Exams are scheduled for the following days:
Midterm 1 May 20 in class
Midterm 2 June 3 in class
FINAL EXAM June 12 at 3:00
Midterm Exams
Midterms consist of short answer, multiple-choice and long answer questions and they are held in class. You should take special note of the scheduled exam dates.
Students who are unable to a midterm at the scheduled time due to personal reasons must arrange with me, prior to the exam, to write the midterm at a different time.
If you do not attend the exam and have not made arrangements with me prior to the exam A. due to medical reasons, then the exam weight for the missed exam will be transferred to
your final exam.
B. and your absence is unexcused, your grade for the missed midterm exam will be zero.
You are required to have your student ID with you for all midterm exams. Random checks may be made during midterm exams.
Note that the use of programmable (graphing) calculators and/or electronic communication devices is not permitted during tests or exams.
NOTE: The second midterm is not cumulative.
Final Exam
The final exam will consist of short answer, multiple-choice and long answer questions. The final is a two-hour exam and covers the material of the entire term.
Note that absences from the final exam for medical or personal reasons require that the student apply to the Faculty of Arts for a deferred exam.
Absences correspond to a final exam grade of zero.
Copies of midterms and finals from previous years will be available on the webpage for the course.
Note that the use of programmable (graphing) calculators and/or electronic communication devices is not permitted during tests or exams.
The use of any electronic communication device is not permitted during lectures.
You are required to have your student ID with you for the final exam. Every ID is checked during the final exam.
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CODE OF STUDENT BEHAVIOUR
“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 Behaviour (online at www.governance.ualberta.ca) and avoid any behaviour 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.” (GFC 29 SEP 2003)
COURSE OUTLINE AND SEQUENCE OF READINGS 1. Introduction to Economics
(i) The Nature of Economics ...Chapter 1 and 2
Students who wish to refresh their graphing skills should read the appendix to Chapter 1
(ii) The Economic Problem...Chapter 3 2. Supply and Demand
(i) The Mechanics of Supply and Demand and Price Determination ...Chapter 4 (ii) Elasticity ...Chapter 6 3. Demand and Consumer Behaviour ...Chapter 5 4. Supply and Producer Behaviour
(a) Production and Costs...Chapter 7, 8 and 9 (b) Perfect Competition ...Chapter 10
(c) Monopoly ...Chapter 11 (d) Monopolistic Competition and Oligopoly ...Chapter 12 (e) Public Policy...Chapter 13
6. Factor Markets ...Chapter 19 and 20
