ECON 102 Introduction to Microeconomic Analysis and Policy Section 006. Syllabus

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1 Professor Class Schedule and Location Office ECON 102 Introduction to Microeconomic Analysis and Policy Section 006 Syllabus The Pennsylvania State University at Erie The Behrend College Fall 2011 Dr. Kerry Adzima M, W, F 12:20am-1:10pm, 207 Burke 276 Burke Office Phone # Address Office Hours kak38@psu.edu M, W 11:00am-12:05pm, 1:15-2:15pm or by appointment. PREREQUISITE This is an introductory course with no formal prerequisites. However, students often find the abstractness and rigor of the course to be quite challenging. You are required to have knowledge of algebra and an understanding of graphs. If you have any doubts about your mathematical ability, or just need a quick refresher, look at the Appendix at the end of Chapter 2 in the required textbook and complete the practice problems offered in Aplia for week 1. COURSE OBJECTIVE This course is designed to introduce students to the economic way of thinking. The objective of the course is to help students learn how to apply principles of microeconomic analysis to the everyday decision-making of individuals and households (consumers) and to different types of firms. Students will learn about markets and will analyze how firms behave under different market structures. We will examine concepts such as what determines market supply and demand, how firms decide how much to produce in order to maximize profits, and a wide range of economic policy issues. By the end of the course students should be able to think like an economist and be able to solve analytical problems relating to the key issues facing them as a member of society. REQUIRED COURSE MATERIALS Textbook: N. Gregory Mankiw, Principles of Microeconomics, South-Western, 6 th Edition, 2012 bundled with Aplia online subscription. Subscription: Aplia online subscription (for homework assignments and supplemental materials) 1

2 You must obtain access to Aplia. All homework assignments will be completed and submitted through this site. Once you have registered, Aplia can be accessed at: Payment Bookstore: Purchase access to Aplia from your bookstore. Check with the bookstore to find out what they offer for this course. Online: Purchase access to this course (including the digital textbook) from the CengageBrain website: Value= When you use this link it takes you to the page where the product is. Scroll down the page and on the left hand side you can choose the Instant Access Code (IAC) under Digital. After paying, you will have the option to purchase a physical book at a discounted price. If you choose to pay later, you can use Aplia without paying until 11:59 PM on 09/11/2011. Class website: This course also has a website on ANGEL ( PSU s tool for on-line course material. It will include the syllabus, selected readings, video clips and other useful information. You will need to connect with this site to download required course information. COURSE REQUIREMENTS It is expected that you will attend every class, except in cases of emergency. I can assure you that your final grade will reflect your class attendance (or lack of it). Given the amount of material that we need to cover, I tend to move at a fast pace. Attending class is therefore vital if you really want to learn the material. If you must miss a class, be sure to find out what announcements and assignments were made, and what material was covered, before returning to class. It is recommended that you get a copy of the day's notes from one of your classmates. Please do not call or me for the assignment/class notes; it is your responsibility to get these things from another student. Some classes during specified weeks are conducted on-line only. It is expected that you watch the lecture clips and work through the material for that day s class as you would for a normal in class meeting. The days that we meet on-line only are clearly labeled in the course outline found on the last pages of the syllabus. I do not permit the use of laptops during class lectures. At times during the semester you will need a calculator for group assignments, and exams. I recommend that you always have one with you. I do not allow students to share calculators or use their cell phones when taking exams. COURSE POLICY Please TURN OFF YOUR CELL PHONES WHILE YOU ARE IN CLASS!! Sending and/or receiving texts and s during class is extremely rude and displays a lack of respect for the instructor. If I see you using your cell phone during class I will send you a 2

3 warning after which I will begin deducting points from your final grade. Note: partially hiding the phone under your desk while texting doesn t prevent me from seeing you do it. Don't talk to other people during class. That makes you and the other person both miss what I'm saying, distracts others around you, and frequently distracts me as well. (You'd be surprised how noticeable it is from the front of the room.) If you must talk, please whisper and keep it brief. Please arrive on time for class. If this becomes a problem, I reserve the right to start deducting points from your final grade for each class you are late. Please do NOT study or prepare for another class, read a newspaper, magazine, or anything else not pertinent to this class, sleep, or listen to music during lectures. Late or Missed Exams: By registering for this class, you are saying that you can be here for all regular class periods, plus the regularly scheduled final exam. It is your responsibility to be present for all exams. If you know that you will not be able to attend class on an exam day, you must notify me at least 1 week in advance. In such circumstances when I deem it appropriate, arrangements may be made to take the exam PRIOR to the scheduled exam. Make up exams must be completed before the remainder of the class takes the exam on the scheduled exam day. In the event of an emergency, students must contact me immediately and notify me of the situation. Please note that official documentation is required in order to make alternative arrangements for an exam. COURSE ENVIRONMENT I am committed to providing a learning environment with open communication and mutual respect. Just as you can expect me to treat you with respect, I expect each of you to treat everyone in this classroom with respect. If you feel that you are being harassed, intimidated, or discriminated against in any way due to your race, sex, political views, age, or any other reason, please let me know. GRADING POLICY At the end of the semester, I will compute your course grade according to the following table: Group Work / Quizzes 20% Homework 20% 1 st Exam 20 % 2 nd Exam 20 % Final Exam (Comprehensive) 20 % Throughout the semester I tend to get many s from students asking me to calculate their current grade. This is something you can do on your own rather easily since I use the ANGEL grade book to keep track of your performance. You can use the following formula at anytime to see how you are doing in the class: I calculate your grade in the following way: Course grade =.20 (group work/quiz grade average) +.20*(HW grade average) +.20*(exam 1 grade) +.20*(exam 2 grade) +.20*(final exam grade) For each grading item, I use percentage grades (not raw scores or points.) 3

4 GRADING SCALE I use the following conversion scale for assigning letter grades: Letter Range A 93%+ A % B % B 83-86% B % C % C 70-76% D 60-69% F <60% IN-CLASS GROUP WORK AND QUIZZES Throughout the semester you will work on problems with your assigned group. Each group is asked to turn in only 1 answer sheet per team by the end of class. At the end of the semester, I will use your top 4 scores out of a possible 5 to calculate your grade for this category. If you are not in class, you will not receive credit for the day s assignment. As a common courtesy, if you know ahead of time that you will be missing class, you should your group members to let them know. Since I will only count the highest 4 scores, there are no make-up group assignments for any reason and I will NOT accept any late assignments either. Group work assignments will be posted on ANGEL and it is your responsibility to print and bring them with you to class. Dates for each group assignment can be found on the last pages of the syllabus in the course outline. After each assignment you will be asked to evaluate your team members on their participation based on a scale of 0-3. These points will be averaged each week and the top 4 scores will be used in determining your final grade for the group work/quiz category. I reserve the right to remove students from any team for lack of participation. Those students would then be expected to work alone on future assignments. 0 Did not participate or offered no input into the problems. 1 Was involved with team and provided some limited input into the problems. 2 Was involved with team and had clear involvement in solving problems. 3 Was involved with team and provided distinguishable input or leadership in solving the problems. 4

5 Throughout the semester I reserve the right to administer announced or unannounced quizzes during class or on-line. This is meant to encourage attendance and on-line participation and to provide you with incentives to keep up with the class material. Pre-scheduled quiz dates are given in the course outline. I will drop the lowest quiz score so there will be NO make-ups on quizzes for any reason. APLIA HW ASSIGNMENTS Weekly homework assignments are found on the Aplia website. The Aplia site requires a separate registration process. Here are the steps: Registration Aplia is part of CengageBrain, which allows you to sign in to a single site to access your Cengage materials and courses. 1. Connect to 2. If you already have an account, sign in. From your Dashboard, enter your course key (5C6J-XV2A-B647) in the box provided, and click the Register button. If you don't have an account, click the Create a New Account button, and enter your course key when prompted: 5C6J-XV2A-B647. Continue to follow the on-screen instructions. For technical problems or problems signing in, please send Aplia an by clicking on the Help link in the upper-right corner of any page or by ing support@aplia.com. Each assignment has a firm due date. The computer doesn t consider any excuses, and I cannot modify the system settings in Aplia. So, you will want to complete the assignments early to avoid emergencies preventing your completion before the due date. These assignments are posted at least a week in advance (normally earlier), so there is no excuse for not getting them done on time. The graded problem sets are required. You can change your answers as many times as you like before the due date has passed. Once the due date has passed, the grade will be recorded and it will not be possible to change your answers or complete the assignment at this point. Again, the software does not care whether you have an excuse or not, so do the assignment well before the due date. Each homework assignment counts equally toward your final grade in this category. I will drop your two lowest HW scores. EXAMS There will be three major exams, including the final. They will be standard full-period exams. The exams are designed to test your knowledge not mere memorization, but rather whether you really understand the material, and can use it to solve new problems. My exams are challenging and if you don t know the material well, you may also find yourself pressed for time. The exams will not be strictly cumulative. However, material in this class builds on previous work, and material taught earlier in the class will be incorporated in the later topics. The exams are primarily true-false, multiple choice, and short problems, although there may be short answer essay 5

6 questions and questions requiring you to use graphical analysis. Exam dates can be found on the last pages of the syllabus in the course outline. GRIEVANCE PROCEDURE Anyone feeling that a dispute exists after the grading of any assignment or exam may submit a written grievance. This grievance should identify the item in dispute and arguments supporting the student s position. Grievances must be submitted in writing within two class periods following the return of the assignment. I will return a written response to the grievance within two class periods from its receipt. CHEATING AND PLAGIARISM The following statement is from the Office of the Chancellor at Penn State Erie: Penn State Erie puts a very high value on academic integrity, and violations are not tolerated. Academic integrity is one of Penn State s four principles to which all students must abide. This principle states: I will practice academic integrity. Academic integrity is a basic guiding principle for all academic activity at Penn State University, allowing the pursuit of scholarly activity in an open, honest, and responsible manner. In accordance with the University s Code of Conduct, I will practice integrity in regard to all academic assignments. I will not engage in or tolerate acts of falsification, misrepresentation, or deception because such acts of dishonesty violate the fundamental ethical principles of the University community and compromise the worth of work completed by others. Any violation of academic integrity will receive academic and possibly disciplinary sanctions, including the possible awarding of an XF grade, which is recorded on the transcript and states that failure of the course was due to an act of academic dishonesty. All acts of academic dishonesty are recorded so repeat offenders can be sanctioned accordingly. More information on academic integrity can be found at the following website: BASIC STRATEGY FOR THIS COURSE Penn State suggests that a student spend two hours outside of class for each hour spent in class, for the average course. However, students have often found that Econ 102 requires three (or more) hours outside of class for every class hour. Since there are three hours of class time per week, you should start by budgeting nine hours of outside time per week for this class. It is usually helpful to develop a schedule such that you are always focusing on a particular subject at the scheduled time. It is important to keep up with the pace of the class. If you fall behind early, it will be very difficult catch up. Use the homework to gauge your understanding of the material. If you are consistently scoring below 80%, there is a problem and an adjustment needs to be made. It could be that the time you are spending on this course is not enough, or perhaps the time you are spending is not what I would call quality time. Putting in quality studying time 6

7 means that you are free from distraction (TV, cell phone, roommates, etc.) while working on problems and reviewing the lecture notes. MISCELLANEOUS INFORMATION The Academic and Career Planning Center (ACPC) can assist students with the process of career and life planning through a full range of programs and services. You may schedule appointments with the ACPC staff to discuss issues including interests, skills, values, and goal setting, as well as how to find career information, internships, full-time jobs, and graduate schools. You are encouraged to utilize the services of the ACPC every year from your first semester to graduation. ACPC Location: Second floor Reed Building ACPC Phone: ACPC Web Site: Pregnancy Issues Due to the fact that I am carrying twins that are due around the end of December, there is a good chance that I may be conducting this course in an on-line format for the last 5 weeks of the semester. I have already prepared video clips of the lectures that you would have received in the classroom for these weeks. These clips, along with on-line notes and a variety of tools in ANGEL will ensure that you are exposed to the exact same material that you otherwise would have been if I had been able to continue teaching in the classroom. If you have any concerns about your ability to complete this course using the on-line format described in the course outline, please schedule an appointment to meet with me before the end of the second week of class. If I don t hear from you by September 2 nd, you are implicitly agreeing to the terms set forth in this syllabus. 7

8 Econ 102 Course Outline Week 1 Lesson 1: Microeconomics - An Introduction Timeframe: August 22- August 26, 2011 Readings: 1. Textbook - Chapter 1 and Chapter 2 2. Textbook Appendix pg (if necessary) 1. Subscribe to and familiarize yourself with Aplia 2. Complete HW #1: Introduction to Aplia Assignments (officially due next week but it is recommended that you take care of this ASAP) Week 2 Lesson 2: Trade Timeframe: August 29- September 2, 2011 Readings: 1. Textbook - Chapter 3 1. Complete HW #1: Introduction to Aplia Assignments 2. Complete HW# 2: PPF and Trade 3. Group work assignment #1 will be completed and turned in at the end of class on August 31 st 4. Watch the video clips and complete the on-line quiz in ANGEL HW Assignment #1 is due by 11:45 PM Eastern Time (ET) on August 31 st, 2011 HW Assignment #2 is due by 11:45 PM Eastern Time (ET) on September 2 nd, 2011 Lesson 2 ANGEL quiz must be completed by 11:45 PM Eastern Time (ET) on September 6 th, The lecture on September 2 nd will be given in an on-line format only (i.e. no face-to-face meeting). All on-line lectures will be available the entire semester. After reviewing the video clips and lecture notes from this week, take the ANGEL quiz. 8

9 Week 3 Lesson 3: Supply and Demand Timeframe: September 7- September 9, 2011 Readings: 1. Textbook - Chapter 4 1. No assignments due this week Week 4 Lesson 3: Supply and Demand continued Timeframe: September 12- September 16, 2011 Readings: 1. Textbook - Chapter 4 (review) 1. Group work assignment #2 will be completed and turned in at the end of class on September 14 th 2. Complete HW #3: Supply and Demand HW Assignment #3 is due by 11:45 PM Eastern Time (ET) on September 16 th, 2011 Week 5 Exam #1 then start Lesson 4: Elasticity Timeframe: September 19- September 23, 2011 Readings: 1. Textbook Chapter 5 1. No assignments due this week 1. Exam #1 is on September 19 th 9

10 Week 6 Lesson 4: Elasticity continued Timeframe: September 26- September 30, 2011 Readings: 1. Textbook Chapter 5 1. Group work assignment #3 will be completed and turned in at the end of class on September 28 th 2. Watch the video clips and complete the on-line quiz in ANGEL Lesson 4 ANGEL quiz must be completed by 11:45 PM Eastern Time (ET) on October 2 nd, The lecture on September 30 th will be given in an on-line format only (i.e. no face-to-face meeting). After reviewing the video clips and lecture notes from this week, take the ANGEL quiz. Week 7 Lessons 5 and 6: Government Policies and Welfare Economics Timeframe: October 3- October 7, 2011 Readings: 1. Textbook Chapter 6 and Chapter 7 1. Complete HW #4: Elasticity HW Assignment #4 is due by 11:45 PM Eastern Time (ET) on October 3 rd, 2011 Week 8 Lesson 7: Taxes Timeframe: October 10- October 14, 2011 Readings: 1. Textbook Chapter 8 1. Group work assignment #4 will be completed and turned in at the end of class on October 12 th 2. Complete HW #5: Policies and Welfare HW Assignment #5 is due by 11:45 PM Eastern Time (ET) on October 14 th,

11 Week 9 Lessons 8 and 9: Externalities and Public Goods Timeframe: October 17- October 21, 2011 Readings: 1. Textbook Chapter 10 and Chapter Group work assignment #5 will be completed and turned in at the end of class on October 21 st Week 10 Lessons 5-9: Review Timeframe: October 24- October 28, 2011 Readings: 1. Textbook Chapters 5, 6, 7, 8, 10, and 11 (review) 1. Complete HW #6: Externalities and Public Goods HW Assignment #6 is due by 11:45 PM Eastern Time (ET) on October 24 th, Exam #2 is on October 26 th Week 11 Lesson 10: Costs of Production Timeframe: October 31- November 4, 2011 Readings: 1. Textbook Chapter Watch the video clips and complete the on-line quiz in ANGEL Lesson 10 ANGEL quiz must be completed by 11:45 PM Eastern Time (ET) on November 6 th, The lectures this week will likely be given in an on-line format only (i.e. no face-to-face meetings). After reviewing the video clips and lecture notes from this week, take the ANGEL quiz. 11

12 Week 12 Lesson 11: Competition Timeframe: November 7- November 11, 2011 Readings: 1. Textbook Chapter Complete HW #7: Costs of Production 2. Watch the video clips and complete the on-line quiz in ANGEL HW Assignment #7 is due by 11:45 PM Eastern Time (ET) on November 7 th, 2011 Lesson 11 ANGEL quiz must be completed by 11:45 PM Eastern Time (ET) on November 13 th, The lectures this week will likely be given in an on-line format only (i.e. no face-to-face meetings). After reviewing the video clips and lecture notes from this week, take the ANGEL quiz. Week 13 Lesson 12: Monopoly Timeframe: November 14- November 18, 2011 Readings: 1. Textbook Chapter Complete HW #8: Competition 2. Watch the video clips and complete the on-line quiz in ANGEL HW Assignment #8 is due by 11:45 PM Eastern Time (ET) on November 14 th, 2011 Lesson 12 ANGEL quiz must be completed by 11:45 PM Eastern Time (ET) on November 28 th, The lectures this week will likely be given in an on-line format only (i.e. no face-to-face meetings). After reviewing the video clips and lecture notes from this week, take the ANGEL quiz. 12

13 Week 14 Lessons 13 and 14: Monopolistic Competition and Oligopoly Timeframe: November 28- December 2, 2011 Readings: 1. Textbook Chapter 16 and Complete HW #9: Monopoly 2. Watch the video clips and complete the on-line quiz in ANGEL HW Assignment #9 is due by 11:45 PM Eastern Time (ET) on November 30 th, 2011 Lesson 13 and 14 ANGEL quiz must be completed by 11:45 PM Eastern Time (ET) on December 5 th, The lectures this week will likely be given in an on-line format only (i.e. no face-to-face meetings). After reviewing the video clips and lecture notes from this week, take the ANGEL quiz. Week 15 Lessons 10-14: Review Timeframe: December 5- December 9, 2011 Readings: 1. Textbook Chapters (review) 1. Complete HW #10: Monopolistic Competition and Oligopoly HW Assignment #10 is due by 11:45 PM Eastern Time (ET) on December 7 th, There are no new video clips for this week. Disclaimer This syllabus may be revised at the discretion of the instructor without the prior notification or consent of the student. The above schedule presents an approximate expectation of course progress. I reserve the right to add, delete, or modify any weeks of this schedule. Any changes will be announced in class or by . 13

Economics 201 Principles of Microeconomics Fall 2010 MWF 10:00 10:50am 160 Bryan Building

Economics 201 Principles of Microeconomics Fall 2010 MWF 10:00 10:50am 160 Bryan Building Professor: Dr. Michelle Sheran Office: 445 Bryan Building Phone: 256-1192 E-mail: mesheran@uncg.edu Office Hours: