University of Alberta Economics Department ECON 281 – A4/A6 Intermediate Microeconomic Theory I
Fall 2018 Instructor: Scott Beesley
Classes – A4 Tuesday and Thursday from 9:30 to 10:50AM in Tory 1 – 103 A6 Tuesday and Thursday from 3:30 to 4:50PM in Tory 1 - 91 Office: Tory Tower 9-13 Phone: 780-248-1322 email: [email protected] Office hours: Tuesday and Thursday from 1:30 to 2:30 PM
Wednesday from 3:00 to 4:00 PM 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 consumer theory, producer 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). 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 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 (i.e. 2/3) towards chapters 10, 11 and 12. The chart below (over) 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-. Letter grade boundaries are placed where there are gaps between pools of students.
Midterm I: 25%, written on October 2 Midterm II: 25%, written on November 1
Final Exam: 50%, tentatively scheduled for: A4 December 19 at 2:00 PM A6 December 18 at 2:00 PM (you must check the date and time later – check both Bear Tracks and the text format list on the registrar’s site and be sure they agree!)
Previous Exams for Review: Note that there are three full sets of old exams posted in e-class (with detailed solutions). 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 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.
Tutor Center (Tory 8-29):
There is a tutor (a PhD student) available to ECON 281 and ECON 299 students in all sections. The tutor's office hours, held in Tory 8-29, will be announced later. Students are welcome to ask the tutor questions about the lecture material, readings, or the practice problems.
The tutor will also be holding sessions throughout the term (dates, times and place TBA), in which he/she will be going through additional practice questions. These sessions are not mandatory, but are highly recommended.
Practice questions, without answers, will be circulated the week before each session. If you are unable to attend a session you are welcome to come to the tutor's office hours to speak with him/her about the questions. Each practice session in a week will cover the same questions.
Code of Conduct
Policy about course outlines can be found in the Evaluation Procedures and Grading System section of the University Calendar.
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.
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).
Resources which students may wish to access
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.
o Academic Success Centre: The Student 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 .
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.”
The General Office
"Dept of Economics General Office is open from 8:00AM to 4:00PM, albeit CLOSED for lunch from 12 to 1 PM" Good luck. SB