Department of Economics
Econ 281: Intermediate Microeconomic Theory I Fall 2021
Instructor: Benjamin Milner E-mail: [email protected]
Office Hours: Tuesdays & Thursdays, 11-11:50 am (online, via Zoom, starting Sept. 7) Course Location, Days & Time: eClass, asynchronous lectures
Prerequisites: Econ 101/204 or the equivalent. The Department may cancel the registration of those who do not meet this requirement.
Course Description: The theory of consumer behavior; theory of production and cost; price and output determination under competition, monopoly and other market structures.
Course Objectives and Expected Learning Outcomes: This is the first course in a sequence on intermediate microeconomics. Many of the topics we will cover should be familiar to you from Econ 101/204. The goal of this course is to develop tools, particularly quantitative ones (meaning there is going to be some math!), to better understand and evaluate these topics.
Textbook: Besanko, D., and R. Braeutigam. Microeconomics, John Wiley, 2014 (5th ed.) (I recommend the 150-day E-book Rental option, as it is by far the cheapest!).
Covered Topics:
Topic Chapter #
Tentative Weekly Schedule Analyzing Economic Problems; Demand and
Supply Analysis 1 & 2
Sept. 1-3
Consumer Preferences and Utility 3 Sept. 6-10
Consumer Choice 4 Sept. 13-17
The Theory of Demand 5 Sept. 20-24
Review; Assignment 1 due (Sept. 27); Midterm 1 (Oct. 1)
Sept. 27-Oct. 1
Inputs and Production Functions 6 Oct. 4-8
Perfectly Competitive Markets 9 Oct. 25-29 Review; Assignment 2 due (Nov. 1); Midterm 2
(Nov. 5)
Nov. 1-5
Reading week Nov. 8-12
Competitive Markets: Applications 10 Nov. 15-19
Monopoly and Monopsony 11 Nov. 22-26
Capturing Surplus 12 Nov. 29-Dec. 3
Assignment 3 due Dec. 7
Lectures: At the beginning of each week, a set of recorded video lectures will be posted on eClass. You are free to watch these lectures whenever you see fit, although I strongly encourage you not to fall behind!
Office Hours: Each Tuesday and Thursday from 11-11:50, I will hold online office hours via Zoom. If for whatever reason you are unable to make that time, send me an email and we can arrange to meet at some other point. I will of course also respond to any questions emailed to me. If you would prefer to meet in person, my office is Tory 7-12.
eClass: All course material will be made available via eClass, including lectures, assignments, practice problems, solution sets, old exams, etc.
Tech Requirements: You can find the University’s minimum technology specifications here:
https://www.ualberta.ca/information-services-and-technology/services/software-hardware- vendors/technology-requirements.html
Additionally, this course will be making use of “Smart Exam Monitor” software (see the exam section below).
Grading Scheme:
Weight
Assignments 20%
Midterm #1 20%
Midterm #2 20%
Final 38%
Practice exam participation (see exam section below) 2%
Note that if your final exam grade is better than your grade on at least one of your midterms, I will drop your lowest midterm grade and transfer its weight to the final.
Numerical grades will be converted to letter grades in the following manner:
Score Grade 93 and above A+
88 to 92.99 A 82 to 87.99 A- 78 to 81.99 B+
74 to 77.99 B 70 to 73.99 B- 66 to 69.99 C+
62 to 65.99 C
58 to 61.99 C- 54 to 57.99 D+
50 to 53.99 D
under 50 F
Assignments: There will be three assignments: the first due Sept. 27, second due Nov. 1, and the third due Dec. 7. Assignments submitted after their due date will receive a zero grade. I will take the average of each student’s best two assignments to determine their total
“Assignments” grade.
Exams Dates:
Given this is an asymmetric course, exam/time-zone conflicts are inevitable. To try to diminish these, students will have the option for each midterm either to write a morning version of the test, or an evening version. Both versions will cover the same material and will be designed to be of equal difficulty.
Midterm #1 will be held Oct. 1. Morning 10:00-11:20 am; Evening 7:00-8:20 pm Midterm #2 will be held Nov. 5. Morning 10:00-11:20 am; Evening 7:00-8:20 pm
The final exam is tentatively scheduled to be held Dec. 17 at 2-5 pm (the date of the final examination is set by the Registrar and takes precedence over the final examination date reported in this syllabus). It will be cover all the material caught in the course.
Missed Exams: There will be no make-up exams for students who miss a midterm. If, due to extenuating circumstances (for example, illness or a death in the family), you are unable to write one of the midterms, then the weight of that midterm will be transferred to the final exam. If you are forced to miss the final, deferral permission must be sought through your own faculty.
of your full exam, it will not be accepted. A practice exam will be provided to validate SEM functionality. Students will be given a free 2% for merely participating in this practice.
Information on SEM system requirements and how to take the practice exam can be found here:
https://support.ctl.ualberta.ca/index.php?/Knowledgebase/Article/View/434/1/using-smart- exam-monitor-sem---students. Should you experience technical difficulty with SEM, please contact the eClass support team by emailing [email protected] or calling (780) 492-9372.
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 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.
Territorial Statement: The University of Alberta acknowledges that we are located on Treaty 6 territory, and respects the histories, languages, and cultures of the First Nations, Métis, Inuit, and all First Peoples of Canada, whose presence continues to enrich our vibrant community.
Learning and working environment: The Faculty of Arts is committed to ensuring that all students, faculty and staff are able to work and study in an environment that is safe and free from discrimination and harassment. It does not tolerate behaviour that undermines that environment.
Sexual Violence Policy: It is the policy of the University of Alberta that sexual violence committed by any member of the University community is prohibited and constitutes misconduct. Resources and more information can be found at https://www.ualberta.ca/campus-life/sexual-violence