University of Alberta Economics Department ECON 281 – B3 Intermediate Microeconomic Theory I
Winter 2016 Instructor: Scott Beesley
Class – Monday, Wednesday and Friday from 2:00 to 2:50PM in Tory 1 91
Office: Tory Tower 9-13 Phone: 780-248-1322 email: [email protected] Office hours: Monday, Tuesday and Wednesday from 3:00 to 4:00PM
or by appointment
Prerequisites: Econ 101/204 or the equivalent (the department does check and will remove you if you don’t have 101 or 204).
This course provides an introduction to intermediate microeconomics, in particular producer theory, consumer theory, cost analysis, and a look at competitive and monopoly markets. We provide quantitative details that were absent from Economics 101.
Text: Besanko, D., and R. Braeutigam. Microeconomics, John Wiley, 2014 (5th ed). This is a new edition; you can use the 4th edition, but you are responsible for differences in page numbers. The question numbers seem to be identical.
Book(s) on Reserve: None
NOTE: There is a significant amount of material in the course e-class site.
The site is used for the posting of old examinations, secondary notes (i.e. not all notes!), solutions, examples, etc. It is nonetheless your responsibility to be sure you have obtained all materials covered in class.
Course Structure:
We will complete chapters 1 through 12 of the text. The first midterm will cover chapters 1 to 5, while the second will cover chapters 6, 7, 8 and 9. The second midterm will only include questions from chapters 6 to 9. The final exam will be cumulative, but more heavily weighted towards chapters 10, 11 and 12. The following chart lists chapter topics and some omissions.
Grade Determination: Note that I don’t apply/enforce any particular grade distribution – the usual median letter grade is a B, but B- is also possible.
Letter grade boundaries are placed where there are gaps between pools of students.
Midterm I: 25%, written on February 3 Midterm II: 25%, written on March 9 Final Exam: 50%, tentatively scheduled for April 18 at 2PM
(you must check the date and time later!!)
Previous Exams for Review: Note that there are three sets of old exams posted in e-class. In my 281 class, these exams, and the posted and in-class problems, are more important than text problems.
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.
HOWEVER, the instructor still has some discretion as to whether or not the work will be made up, or the weight transferred to the final exam (I almost always move the weight to the final, which is generally harder than the midterms – thus, you will not be rewarded for skipping a midterm). Refer to section 23.4(3) of the Calendar.
2) If you miss the final exam for a valid medical reason or severe domestic affliction, you may apply to your faculty for the privilege of a re- write. 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 for in support of their request for a deferred final.
Chapter Title Omitted portions
1 Analysing economic problems -
2 Demand and Supply -
3 Consumer Preferences and Utility -
4 Consumer choice 4.4 Revealed preference
4 " Appendices 1 and 2
5 The theory of demand
6 Inputs and production functions
7 Costs and Cost Minimization Appendix - advanced topics
8 Cost curves Appendix - Shephard's Lemma/Duality
9 Perfectly competitive markets Appendix Profit Max. implies cost min.
10 Competitive markets: Applications 10.4 Price supports in Agriculture
11 Monopoly and monopsony -
12 Capturing surplus 12.5, 12.6
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 loud talking in class, the noisy use of phones etc., and will ask you to leave the class after one warning.
Code of Conduct
Policy about course outlines can be found in ' 23.4(2) of the University Calendar. (GFC 29 SEP 2003).
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.ualberta.ca/secretariat/appeals.htm) 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 of lecture, 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. 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 content author(s).
The General Office "Dept of Economics General Office is CLOSED FROM 12-1 PM"