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University of Alberta Economics Department ECON 101 – A4 Introduction to Microeconomics
Fall 2019 Instructor: Scott Beesley
Class Monday. Wednesday and Friday from 1:00 to 1:50 PM in Tory L – 1 – 1
Office: Tory Tower 9-13 Phone: 780-248-1322 U of A email: [email protected] Office hours: Monday and Wednesday from 3:30 to 4:30 PM,
Tuesday and Thursday from 1:00 to 2:00 PM, or by appointment Course Description
From the calendar: How markets and governments determine which products are produced and how income is distributed in the Canadian economy. Not open to students with credit in ECON 204.
In more detail: An introduction to economic analysis, including comparative advantage, unconstrained supply and demand, elasticity, constraints on supply and demand (e.g. price floors), types of goods, cost structures, market power and factor markets.
This course provides the foundation necessary for the study of pretty much anything in economics. If you master the basics of supply and demand analysis, the later courses are much easier and more fun (really!).
Conversely if you try to pass this course via rote learning, without actually understanding what is done and why, then you will be at risk in this and other courses.
Textbook(s):
Mankiw, Kneebone and McKenzie, Principles of Microeconomics,7th Cdn. ed., (Nelson). You can buy a paper text at the bookstore. The bookstore at present (spring term) does not have the e-book, but it can be bought from Cengage/Nelson online.
Book(s) on Reserve: None
E-Class will be used to post various notes, examples, diagrams, old exams and practice problems.
Course Structure:
Introduction (Chapters 1 and 2) Trade (Chapter 3)
Supply and Demand I: How Markets Work (Chapters 4, 5, and 6) Supply and Demand II: Markets and Welfare (Chapters 7, 8, and 9) The Economics of the Public Sector (Chapters 10 and 11)
Costs and Market Power (Chapters 13, 14, 15, 16 and 17) The Economics of Factor Markets (Chapter 18)
2 Grade Determination
Midterm I: 25% Written on October 2, covering Chapters 1 to 6. Midterms are written in the first 50 minutes of class. Please make sure you get to class a bit early on exam days, so you and your fellow students get the maximum time possible to focus on the exam!
Midterm II: 25% Written on November 4, covering Chapters 7 to 11, plus 13.
Final Exam: 50% The final will be cumulative, but more heavily weighted (2/3) on the material studied after Midterm II - chapters 14 through 18. Note that the final exam schedule is subject to change and you should check Bear Tracks, and the official (registrar’s) site, at the end of term, in case of any variance. The final is (tentatively) scheduled for December 19, from 2:00 to 4:30 PM.
Please put your LAST NAME FIRST on the scantron sheets, and provide the last 7 digits of your student number. (LAST NAME = SURNAME in Bear Tracks!)
Missed exams:
1) Note that the University has made a change to the policy regarding missed midterm exams and other term work. Medical notes can no longer be required, in the event of such missed work. The student may choose to provide a Medical Declaration Form, but again, that is not a requirement.
In general, ONE missed midterm will result in the weight being transferred to the final exam (my policy only - Beesley). Refer to section 23.4(3) of the Calendar. Students who miss or skip one midterm can still write the final, however…(see below!)
PLEASE NOTE: STUDENTS WHO FAIL TO WRITE AT LEAST ONE MIDTERM WILL NOT BE PERMITTED TO WRITE THE FINAL, AND WILL RECEIVE A GRADE OF “F”.
Therefore, if illness forces a student to miss the first midterm, then, given the above rule, they MUST write the second midterm. If the student is again sick, or misses the second midterm for any other reason (e.g. a flat tire, etc.), then they must contact the instructor to arrange a late midterm. Failure to make such arrangements will result in a failing grade!
2) If you miss the final exam for a valid medical reason or severe domestic affliction, you may apply to your own Faculty for the privilege of a re-write. (This is not always granted!) Please refer to section 23.5.6 of the University Calendar for the proper procedure. The Faculties of Arts and Science require that the student complete a Statutory Declaration in support of their request for a deferred final.
Behavior and ethics
Students should know the university’s Code of Student Behaviour and abide by it (see below). You are advised to read section 30.3.2 on “Inappropriate Academic Behavior” in particular. I do not tolerate talking in class, audible music, loud typing, etc. Anyone cheating on an exam will be reported, and could therefore receive a zero for that exam, or potentially fail the entire course.
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Representative Evaluative Course Materials (GFC Feb 2007)
There are three sets of previous examinations posted within E-Class (Midterm I, Midterm II, and the Final Exam). They will provide an idea of the length, nature and level of difficulty of the examinations in this course. (GFC 52.8.1) The Fall 2019 exams will be similar in format to the most recent posted exams, which are from the fall of 2018.
In addition, of course, you will learn from the practice problems, posted examples, text questions, and other posted notes and readings.
Code of Conduct
o “Policy about course outlines can be found in the Evaluation Procedures and Grading System section of the University Calendar.”
o “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
https://www.ualberta.ca/current-students/academic-resources/academic-integrity ) 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.”
“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).”
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.”
Resources which students may wish to access
o The Economics Department offers a Tutoring Service for first year students, on the 8th floor of the Tory Tower. This has been very helpful to many students. Details regarding that service, and many other interesting items, can be found within the “Undergraduate Notes” button on the department’s homepage.
o Accessibility Resources: If you have a condition that may require some classroom or exam modifications, please contact Accessibility Resources (https://www.ualberta.ca/current-
students/student-accessibility-services/ ) to obtain a determination as to what accommodations should be made.
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o Academic Success Centre: The Academic Success Centre (https://www.ualberta.ca/current- students/academic-success-centre ) offers a variety of learning resources, including a variety of workshops in learning effective study and exam strategies. Sessions are available in person and online, for a modest fee.
o Centre for Writers: The Centre for Writers (www.c4w.ualberta.ca) offers free one-on-one writing coaching to all students. Students can request consultation for a writing project at any stage of development, including completed and graded work.
o Many other services can be found from https://www.ualberta.ca/current-students .
GENERAL NOTES
1. It is strongly advisable that the appropriate chapters be read prior to each lecture. In addition, students should try the posted problems well ahead of the midterms. Try to do the old exams without looking at the solutions, at least on the second and third ones.
2. Regular class attendance is expected. Familiarize yourself with the policy on attendance and other academic regulations as explained in the Calendar. Students who choose not to attend lectures must assume whatever risks are involved (see Calendar §23.3 and 23.5.6)
3. Midterm exams will be written during regularly scheduled classes – with a duration of 50 minutes.
The final exam will be 2.50 hours long.
4. The second midterm is not cumulative. All examinations consist entirely of multiple choice questions (however, some of those questions require algebra to obtain the correct answer.) The final exam will be on the whole term’s work, with a greater weight on material covered after the second midterm. The final exam is scheduled by the University. You may not write the final at any other time unless you receive permission from your home faculty to write a deferred exam. It is your responsibility to find out the date, time and place for the exam.
I would advise you to compare the final exam date and time as posted in Bear Tracks with that found in the Registrar’s posted schedule. If they don’t agree, please tell your instructor.
5. The use of unauthorized materials, dictionaries, electronic dictionaries, phones, PDAs, etc. is not permitted during exams. Please turn your phone off, or at least to silent operation, during class. Bring your student ID to every exam - they may be checked.
6. Students are encouraged to contact the instructor regarding any questions pertaining to course materials or their performance in the course. Please come in and get help at the first sign of difficulty!
7. Supplemental exercises are not permitted in this course. This policy is designed to prevent students from asking for a make-up assignment to compensate for poor performance on an exam.
8. The Department of Economics General Office is CLOSED FROM 12-1 PM.