University of Alberta (July 8 Version) Economics Department ECON 281 – A2/A5 Intermediate Microeconomic Theory I Fall 2022 Instructor: Scott Beesley
Classes and midterm exams – Dates and times
Office: Tory Tower 9-13 Phone: 780-248-1322 email: [email protected]
Office hours: Monday from 3:00- 4:00 PM
Tuesday & Thursday from 12:00 to 1:00 PM or by appointment
Note that I welcome email questions at any time, though it might take me a while to answer
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, 2020 (6th ed). You can use the 5th or even the 4th edition, but you are responsible for differences in page and question numbers.
NOTE: There is a significant amount of material on the e-class site.
The site is used for the posting of old examinations, secondary notes (i.e. not all notes!), solutions, examples, etc. There may also be some paper handouts during class. It is your responsibility to be sure you have obtained all materials covered in class. Some videos also remain posted, primarily additional practice problems, as well as versions of my usual Econ 101 and Math Reviews.
Section: A2 A5
Days Mon/Wed/Fri Mon/Wed/Fri
Time 10:00 - 10:50 AM 2:00 - 2:50 PM
Classroom T 1 - 96 Tory 1 - 105
Exam Dates
Midterm I October 3 October 3
Midterm II November 4 November 4
Course Structure:
We will complete chapters 1 through 12 of the text, in normal order. 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 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% (dates by section in the above table)
Midterm II: 25% (as above)
Final Exam: 50%, dates and times to be determined
(you must check the date and time later – check both Bear Tracks and the list on the registrar’s site and be sure they agree! If they don’t, tell me please!)
As of Fall 2021, I decided to change my midterm weighting policy. I will now move a 15% course weighting from the lowest midterm to the final, if that improves the grade.
(The final must therefore have a higher mark than at least one of two midterms.)
This means a net weighting of 10% on the "bad" midterm, 25% on the "better" one, and 65% on the final. This applies to all students, so even with marks of 80, 90, 84, for example, part of the weight of the “80” midterm would go to the “84” final.
If you write only one midterm, the weighting remains 25/75.
Previous Exams for Review: Note that there are three full sets of old exams posted in e-class (with detailed solutions).
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
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 they are subject to the condition below:
NOTE: STUDENTS WHO FAIL TO WRITE AT LEAST ONE MIDTERM WILL NOT BE PERMITTED TO WRITE THE FINAL, AND WILL RECEIVE A GRADE OF “F1”
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 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.
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 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 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.”
