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ECON 281:
INTERMEDIATE MICROECONOMIC THEORY
COURSE OUTLINE1 Section: A5 Term: Fall 2021
Class Time: Monday, Wednesday, and Friday from 1:00 to 1:50PM Class Room: Tory 1-091
Web Page: eClass
Instructor: Andrew McGee Office: Tory 7-18
Office Hours: By Zoom Wednesdays from 2 to 3 PM and by appointment E-mail2: [email protected]
Course Description: The course considers the decision-making processes of individuals and firms. In
particular, we derive the demand for goods and services from the preferences of utility-maximizing consumers and the supply of these same goods and services from the cost structures of profit-maximizing firms in order to determine the equilibrium in markets with different degrees of competitiveness.
Course Goals: At the end of the course, the students will have developed an understanding of the
assumptions underpinning models of demand, production, and competitive markets. Further, the students will have the tools to understand and evaluate models of different market structures in subsequent coursework.
Course Prerequisites: ECON 101 (or equivalent). Important: The Department may cancel your registration if you do not have the required courses as prerequisites. Students who do not meet the requirements should contact the instructor as soon as possible.
Required Text: Goolsbee, Austan, Steven Levitt, and Chad Syverson. (2020) Microeconomics, Third Edition.
New York: Worth. By purchasing the e-book (the required version of the text), you also obtain access to Achieve. Students will use Achieve to complete Graded Homeworks; Achieve is required as a result.
To register for the course on Achieve, go to this webpage:
https://macmillan.force.com/macmillanlearning/s/article/Achieve-Join-a-course
If you have any problems with Achieve (registering or using), you can find help at:
https://macmillan.force.com/macmillanlearning/s/chat-with-us
Course Performance Evaluation: Final course grades are determined according to the University calendar
§23.4(2): 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. After the mid-term exam, you will be informed of your expected grade in the class were grades assigned solely on the basis of the midterm.
Type of evaluation Date(s) Weight
End of chapter problems See Achieve; due on Wednesdays 10%
End of chapter quizzes See Achieve; due on Sundays 10%
Midterm Exam 1 Monday, September 27, 2021 (in class) 20%
Midterm Exam 2 Wednesday, October 20, 2021 (in class) 20%
1 Policy about course outlines can be found in 23.4(2) of the University Calendar.
2 When sending an e-mail indicate in the subject line of the e-mail “ECON 281.”
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Midterm Exam 3 Wednesday, November 17, 2021 (in class) 20%
Final Exam Tuesday, December 14, 2021, at 2 PM 20%
The end-of-chapter problems and end-of-chapter quizzes on Achieve will require students to demonstrate mastery of the concepts covered in each chapter. The end-of-chapter problems are worth 1 point each;
students need only complete the problems for full credit on the assignment. The end-of-chapter problems are due on Wednesday evenings throughout the semester; see Achieve for the dates for each chapter. The end-of- chapter quizzes will be worth 1 point each with deductions for incorrect answers. The end-of-chapter quizzes are due on Sunday evenings throughout the semester; see Achieve for the dates for each chapter. There will be end-of-chapter problems and end-of-chapter quizzes for each chapter listed in reading outline below.
The midterm exams will take place in-class on the dates listed above unless public health conditions dictate otherwise. There will be no make-up exams for students who miss midterms. A student who misses a midterm exam will have their midterm score determined by their final exam score. Specifically, a student missing the midterm will receive a score for the midterm that corresponds to a midterm score at the student’s percentile on the final exam. That is, if the student is in the 25th percentile on the final exam, they will receive a midterm score corresponding to the 25th percentile in the corresponding distribution of midterm scores.
The final exam is tentatively scheduled for Tuesday, December 14, 2021, at 2PM, but you should check on Bear Tracks later in the semester to verify the time and location. This will be a two-hour exam taken in person unless public health conditions dictate otherwise. Any deferred exam will be scheduled in the last week of January.
Covid-19: The lectures and exams in this course will be conducted in-person unless conditions dictate otherwise. For the latest on the university’s Covid-19 policies, see https://www.ualberta.ca/covid- 19/index.html . The Faculty of Arts also maintains this webpage: https://www.ualberta.ca/current- students/index.html
Past evaluative material will be made available through eClass.
Recording of lectures - Audio or video recording of lectures, labs, seminars or any other teaching environment by students is allowed only with the prior written consent of the content author(s) or as a part of an approved accommodation plan. Recorded material is to be used solely for personal study, and is not to be used or distributed for any other purpose without prior written consent from the instructor. I intend to record all lectures delivered in the classroom using Zoom.
Student accessibility services - If you have special needs that could affect your performance in this class, please let me know during the first week of the term so that appropriate arrangements can be made. If you are not already registered with Student Accessibility Services, contact their office immediately ( 1-80 SUB;
Email [email protected]; Email; phone 780-492-3381).
Topics and reading outline (following Goolsbee, Levitt, & Syverson 2020):
Chapter 1: Adventures in Microeconomics Chapter 2: Supply and Demand
Chapter 3: Using Supply and Demand to Analyze Markets Chapter 4: Consumer Behavior
Chapter 5: Individual and Market Demand Chapter 6: Producer Behavior
Chapter 7: Costs
Chapter 8: Supply in a Competitive Market Chapter 9: Market Power and Monopoly
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Chapter 13: Factor Markets
Other: Department of Economics General Office (Tory 8-14) is CLOSED from 12-1PM.
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 (at https://www.ualberta.ca/current-students/academic-resources/academic- integrity) and avoid any behavior that 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.
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 behavior that undermines that environment. The department urges anyone who feels that this policy is being violated to:
• Discuss the matter with the person whose behavior is causing concern; or
• If that discussion is unsatisfactory, or there is concern that direct discussion is inappropriate or threatening, discuss it with the Chair of the Department.
For additional advice or assistance regarding this policy you may contact the student ombudservice:
(http://www.ombudservice.ualberta.ca/). Information about the University of Alberta Discrimination and Harassment Policy and Procedures can be found in the GFC Policy Manual, section 44 available at
http://gfcpolicymanual.ualberta.ca/.
Resources that students may want to access:
Available at http://www.ualberta.ca/current-students
o Accessibility Resources: If you have a condition that may require some classroom or exam modifications, please contact Accessibility Resources to obtain a determination as to what accommodations should be made.
o Academic Success Centre: The Academic Success Centre offers a variety of learning resources, including a variety of workshops in learning effective study and exam strategies.
o Centre for Writers: The Centre for Writers offers free one-on-one writing coaching to all students. Students can request consultation for a writing project at any stage of
development.
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
Recording of Lectures:
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Audio or video recording, digital or otherwise, of lectures, labs, seminars or any other teaching environment by students is allowed only with the prior written consent of the instructor or as part of an approved
accommodation plan. Student or instructor content, digital or otherwise, created and/or used within the context of the course is to be used solely for personal study, and is not to be used or distributed for any other purpose without prior written consent from the content author(s).
Attendance, Absences, and Missed Grade Components:
Regular attendance is essential for optimal performance in any course. In cases of potentially excusable absences due to illness or domestic affliction, notify your instructor by e-mail within two days. Regarding absences that may be excusable and procedures for addressing course components missed as a result, consult sections 23.3(1) and 23.5.6 of the University Calendar. Be aware that unexcused absences will result in partial or total loss of the grade for the “attendance and participation” component(s) of a course, as well as for any assignments that are not handed-in or completed as a result.
Policy about course outlines can be found in Course Requirements, Evaluation Procedures and Grading in the University Calendar.