CALIFORNIA STATE UNIVERSITY, SACRAMENTO DEPARTMENT OF ECONOMICS

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1 CALIFORNIA STATE UNIVERSITY, SACRAMENTO DEPARTMENT OF ECONOMICS ECON 1B: Introduction to Microeconomic Analysis FALL 2016 Instructor: Kristin Van Gaasbeck Course web page: Office: Tahoe 3015 Online Office Hours: Mondays 10am-1pm and by appointment Catalog Description Scope and Objectives Introductory microeconomic analysis of the workings of supply and demand in the determination of price, resource allocation, and distribution. Markets are analyzed as they affect economic efficiency and income distribution. (3 units) This course satisfies the general education requirement in Area D. This section of ECON 1B is an online (OL) course. Microeconomics is the branch of economics that deals with how individuals, firms and governments make decisions. The course is divided into four modules: I. Introduction to Economics and Markets II. Markets, Welfare, and Government Policies III. Firm Behavior and the Organization of Industry IV. The Economics of Labor Markets At the end of this course, you should have a general understanding of microeconomics and how to apply economic thinking to everyday decisions. You should be able to use models developed this semester to complete the following: Identify and apply key economic principles to explain behavior (Module I) Use market models to analyze social welfare and government policy (Module II)! Use supply and demand diagrams to analyze the impact of overall changes in supply and demand on price and quantity.! Solve for equilibrium price and quantity algebraically and graphically.! Calculate consumer and producer surplus and identify graphically. Analyze how firms make decisions in different market structures. (Module III)! Solve a firm s profit maximization problem mathematically and graphically.! Analyze the behavior of firms in a perfectly competitive market in the shortrun and the long-run.! Analyze the behavior of firms in a monopoly or oligopoly, and calculate the resulting changes in producer or consumer surplus. Examine the labor market to understand differences in pay, how government policies affects different demographic groups, and sources of discrimination (Module IV) Use economic tools to analyze economic policies. (Modules I-IV) You are required to have access to a reliable internet connection and functioning computer to complete coursework. Issues such as a slow/failed internet connection or other computer problems are not a valid excuse for failing to complete coursework. Do not ask to be excused from coursework for this reason. Required Textbook (available online) Mankiw, N.G. (2015). Principles of Microeconomics, 7 th edition. You are required register for Aplia. Your registration includes an online version of the textbook and all ancillary materials posted on Aplia. You may not use a used copy in lieu of online registration as all of your work is completed on Aplia. In order to get the best price, please follow the registration instructions provided.

2 Instructions for Aplia Registration and Textbook Payment Registration 1. Connect to 2. Follow the prompts to register for your Aplia course. Payment After registering for your course, you will need to pay for access using one of the options: 1. Online: You can pay online using a credit or debit card, or PayPal. 2. Bookstore: You may purchase a hard copy of the new textbook at the Hornet Bookstore. A used copy will not include an access code. 3. Free Trial: Your course enrollment includes a free trial period of up to three weeks. After the free trial ends you will be required to pay for access. At the end of the trial period, your course access will be suspended until your payment has been made. Do not wait until the last minute to pay for Aplia access. Computer issues are not an excuse for not completing coursework. If you do have technological issues with accessing Aplia, please use customer support. They typically respond immediately in chat during business hours, or 48 hours by . Grading Assignments 30% (end-of-chapter questions and problem sets) Class Discussion 10% Term exams (4) 40% (10% on each) Final Exam 20% Course grades will be distributed roughly according to the following scale. A, A C+, C, C F Less than 55 B+, B, B D+, D Assignments All materials are posted on Aplia. There, you will find outlines of textbook chapters, and numerous supplements to help you review material. Each week, I will provide you with a checklist to complete on your own, to insure you are making good progress with the course materials. Your assignments consist of the following: 1. End-of-chapter problems. These are designed to evaluate your understand and review the material from each chapter. I recommend you read through the chapter once, take notes on key points, then attempt these problems to evaluate your comprehension of the chapter materials. 2. Problem sets. These are more complex, often multi-part problems that require not only comprehension of the material, but the ability to apply the material to real-world case studies. Problem sets include more analytical problems that are closer to what will likely appear on your term exams. On both types of assignments, you will receive three attempts on each question. You will not be penalized if you perform worse on the second or third attempt of a question, but you will bring your average score up if you perform better. So, even if you earn a perfect score, it is good practice to try the second and third attempts without it adversely affecting your assignments grade. You can then review each version you attempted to help study. Assignments are equally weighted by lecture. This is regardless of how many points each assignment is worth. You should aim to earn at least 90 percent on assignments, since you have the benefit of unlimited time and resources to complete them. If you are not performing well, you should contact me soon to determine how to improve. Do not wait!

3 Term Exams and the Final Exam Your term exams will be timed (60 minutes) and available to you within a 48-hour timeframe. The exam dates and times will not change from those given in the syllabus. While you are free to use your own notes during exams, it will not be possible for you to navigate between your exam, the textbook and other materials on Aplia. This is by design. Exams are meant to evaluate your comprehension and ability to apply course material in a timed, closed-book setting. I strongly recommend that you take careful notes on textbook readings and key points from assignments, and that you complete several practice problems to help you prepare to complete problems under time pressure. Again, you will not have time to scan through the textbook or problem sets during your exam you will run out of time if you attempt to take the exam in an open book manner. You must prepare yourself to complete problems in a timed, closed-book setting to be successful on the exams. You must complete your term exams within the 60 minutes allocated and you must have your exam finished before the end of the 48-hour window of time. The exam dates and times are posted well in advance on Aplia and are given in the course outline. If you already know of a conflict that will mean you are unable to complete an exam within the allotted window, then you should not take this course. You must complete your exams alone. I will not respond to inquiries regarding exam questions. The final exam is comprehensive and will cover all of the course material. This exam will be 2 hours (120 minutes) and must be completed by the end of finals week. The precise due date and time will be posted in Aplia. Chapter Readings and Taking Notes Each lecture corresponds to a chapter in the textbook available online. I ve assigned chapter readings with a specific due date and time in Aplia, so that you have a sense of where you should be in terms of making progress in the course. You can complete the readings at any time though, and you can (and should) go back and review chapters. You should read through chapters actively. This means taking notes as you read on key points. I recommend that you go to the Key Points for each chapter, then take notes from the chapter on each of the points as you are reading. I have provided you with Power Point slides to review and guide you through the chapters. These are available online. You can print them, but they are designed to be viewed online as a Slide Show. I ve animated more complex concepts to walk you through models, step by step. Class Discussion You are required to post regularly on the course discussion board. You will see prompts posted in Aplia (under the Discussion tab). To earn credit for class discussion, you must: 1. Respond directly to one prompt per chapter (usually 3-4 sentences). 2. Respond to one classmate s prompt per chapter (1-2 sentences). The due dates for each prompt (your direct responses and your responses to your classmates posts) are given in Aplia. I generally post prompts well in advance, so you can work at your own pace, but the due dates are firm. I leave the discussion boards open for you to review and to allow for responses. You are responsible for keeping track of the due dates and times that are provided in Aplia.

4 Policies 1. Academic honesty is expected. I encourage you to work together on problem sets and study in groups, however, work submitted for a grade must be that of the individual student. You will receive a mark of zero on any work where cheating or plagiarism occur. Students suspected of cheating will be reported to Student Judicial Affairs. 2. Technological issues are not an excuse for failing to complete coursework. You are responsible for having access to a reliable internet connection. If you do not reliable access to a computer and internet connection, then please use one of the computer labs on campus. There are labs across campus (some are open 24 hours). You should work on the homework as early as possible so that you can seek help if you need it. 3. Students who add the course late will not be granted extensions on assignments. The assignment due dates are the same for all students, regardless of the enrollment date. 4. There will be no makeup examinations. Exam dates are given in the course outline below and are on posted online. This is to avoid any potential conflicts. 5. You are required to register for Aplia. Registration on the web site includes an online version of the textbook and the instructor s course materials. 6. You will not be excused from coursework if you choose to add the course late. The course begins on the first day. I am not able to grant extensions to individual students. 7. If you decide to withdraw from this class, make sure you do so with the registrar. If you withdraw without permission, you will be assigned a failing grade, F. In order to be assigned a grade of I, the student must: complete satisfactory progress both up through the drop deadline in the course and up to the point when the student requests an incomplete grade be assigned, and the student s request must meet the conditions provided by the Department of Economics. No WU grades will be assigned to students who have completed work for the course. 8. If you have a learning/physical disability that requires accommodation, please let me know as soon as possible. All needs that have been verified through Student Services with Disabilities (SSWD) will be accommodated. Requests for special test accommodations must be given to the instructor at least one week prior to exam date. 9. Please contact me via with questions on textbook material and assignments. I will return your within 24 hours during business hours (48 hours otherwise). To contact me, please take the following steps: (i) Use the subject line in your ECON 1B (Lecture #) (ii) Identify your first and last name in your signature. (iii) Provide a screenshot of the problem for the item you have a question about. (iv) Clearly state where you are having difficulty. The more detail you provide, the better able I am to assist you. If you simply say, I don t know how to do the problem, then I will have to ask follow-up questions to help you (e.g., are you having difficulty getting started, do you not understand what the question is asking, etc.) 10. Student questions on course material will be posted on Aplia with my response (the student s name will not be included). Before you contact me with a question, please review the discussion board in Aplia. I will post these questions and answers under a Q&A topic under the relevant Lecture/chapter number.

5 Course Outline Dates Topic Reading Week 1 Aug 29-Sep 4 Module I: Introduction to Economics and Markets Lecture 1: Ten Principles of Economics Lecture 2: Thinking Like an Economist Chapter 1 Chapter 2 Week 2 Sep 5-11 Lecture 3: The Market Forces of Supply and Demand Chapter 4 Week 3 Sep Lecture 4: Elasticity and Its Applications Chapter 5 Week 4 Sep Lecture 5: Supply, Demand, and Government Policies Chapter 6 Week 5 Sep 26-Oct 2 Term Exam #1 (Lectures 1-5): 60 minutes timed exam *Available Sunday, Sep Tuesday, Sep Module II: Markets, Welfare, and Government Policies Lecture 6: Consumers, Producers, and the Efficiency of Markets Chapter 7 Week 6 Oct 3-9 Lecture 6, continued Lecture 7: Application The Costs of Taxation Chapter 8 Week 7 Oct Lecture 8: Externalities Lecture 9: Public Goods and Common Resources Chapter 10 Chapter 11 Week 8 Oct Lecture 9, continued Term Exam #2 (Lectures 6-9): 60 minutes timed exam *Available Thursday, Oct Saturday, Oct Week 9 Oct Module III: Firm Behavior and the Organization of Industry Lecture 10: The Costs of Production Chapter 13 Week 10 Oct 31-Nov 6 Lecture 11: Firms in Competitive Markets Chapter 14 Week 11 Nov 7-13 Lecture 12: Monopoly Chapter 15 Week 12 Nov Lecture 13: Monopolistic Competition & Oligopoly (selected sections of chapters) Chapters Week 13 Nov Term Exam #3 (Lectures 10-13): 60 minutes timed exam *Available Sunday, Nov Tuesday, Nov

6 Week 14 Nov 28-Dec 4 Module IV: The Economics of Labor Markets Lecture 14: The Markets for Factors of Production Chapter 18 Week 15 Dec 5-11 Lecture 15: Earnings and Discrimination Chapter 19 Term Exam #4 (Lectures 14-15): 60 minutes timed exam *Available Thursday, Dec Saturday, Dec Finals Week Dec Final exam (Lectures 1-15): 120 minutes timed exam *Available Monday, Dec Dec *All times are Pacific time. Please be sure to set your time zone to Pacific time when you register for Aplia to insure that your assignments and exams appear at the correct time. All due dates and times will be posted in Aplia. Notes This is an online course that requires substantial study time on your own. Online courses are best suited to highlymotivated, independent students. You must get into the habit of working on this course every day. You will fall behind if you fail to work on this course each day. Time commitment For each hour of traditional class lecture time, students are expected to study for 2.5 hours in order to be successful in a college-level course. A semester-long course has about 36 hours of class meeting time. This means you are expected to spend about 90 hours studying during the semester. In an online class, it will be even more time, since you do not have the time in traditional face-to-face meetings with the instructor that would be 36 hours during the semester. In other words, in an online course, you should expect to spend 126 hours of studying for this course during the semester. This is equivalent to studying a minimum of 8.4 hours per week (1.2 hours per day in a 7- day week) in an online 15-week semester course. If you are weak in mathematics, graphing, and/or critical reasoning skills, you will need to dedicate more time to studying for the course and to completing assignments. Effective studying Study hours alone are not enough. You need to be effective with your study time. In order to provide the needed structure to study, I recommend you set aside time on campus, free of distractions in a computer lab or at the library to focus on the course materials. Another way to be effective is to study each day, rather than cramming immediately before an assignment is due. You will not be successful if you do not give yourself time to read, review, and analyze the material before attempting the problem sets and eventually the exams. You must read the chapter, write notes on key points (in your own words, don t simply copy), and then review your notes and the chapter. Once you ve reviewed, you should attempt the end-of-chapter problems that evaluate your comprehension of the course content. Once you have a good comprehension, you are ready to apply the material on the problem sets, which evaluate your ability to analyze economic concepts. In Aplia, you have multiple attempts on each problem. Use them effectively don t simply guess. Try to reason through the answers and understand the problem. Also, you will see practice reviews in Aplia to get more opportunities to apply the course materials use them. Setting weekly targets and performance goals I provide you with checklists to help you keep pace with the course. I will also provide you with tips and lecture outlines on Aplia to help you along. As stated above in the syllabus, if you are scoring less than 90% on your assignments, and you are spending the time to read through the problem carefully and reason through them, then you should contact me as soon as possible. Waiting until you perform poorly on an exam is often too late to address the underlying issues with your study habits.

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: