Economics 201(02 & 03)

ESSENTIALS OF MICROECONOMICS

Fall 2009

Instructor: Dr. Donald J. Oswald

Office Hours: M: 12:00 - 3:05 p.m.; W: 1:00  - 3:05 p.m.

Office: BDC, Rm. 259A

Phone: 654-2465/2181

E-Mail: doswald@csub.edu


COURSE MATERIALS:

Michael Parkin, Microeconomics, 9th ed., 2010

Instructor's Web Site: http://www.csub.edu/~doswald

COURSE OBJECTIVES

1. Develop critical thinking and analytical skills used by economists.

2. Develop an understanding that individuals and society have to make choices using limited resources.

3. Study the economic behavior of households and firms in a market economy.

4. Study the organization and functioning of product and factor markets.

5. Study and reflect on the economic role of government in a free, market-based economy.

COURSE REQUIREMENTS

1. Read all assigned materials.

2. Attendance: Attendance will be regularly taken. Experience has repeatedly shown that students who frequently miss class do not succeed in this course.

3. Satisfactory completion of the following:

Quizzes (8 @ 30 pts. ea.). . . . . .. . . . . . . . . 240 points

Mid-term examination . . . . . . . . . . . . . . . . . 150 points

Final examination . . . . .. . . . . . . . . . . . . . . . 200 points

TOTAL . . . . . . . . . . . . . . . . . .  . . . . . . .   590 points

4. There will be no make-up quizzes. Your top 8 scores will be used in calculating your final grade.

4. Students unable to take a examination at the prescribed time must arrange to take a make-up examination. However, a ten-percent penalty will be assessed for make-up exams. Make-up examinations will not be allowed after examination papers are returned to the class.

5. Final course grades will be based on the following grading scale:

A . . . . . 100 - 88%

B . . . . . 87 - 77%

C . . . . . 76 - 66%

D . . . . . 65 - 51%

F . . . . . 50% & below

Plus and minus signs will be assigned to grades where appropriate.

COURSE OUTLINE AND READING SCHEDULE

Dates, Subjects, and Reading Assignments

I. INTRODUCTION TO ECONOMICS: 9/14, 16

A. Review Course Syllabus

B. Economics & Its Methodology  Ch. 1

C. The Economic Problem & the PPF Model  Ch. 2

II. HOW MARKETS WORK: 21, 23, 28, 30, 10/5, 7, 12, 14

A. Demand and Supply  Ch. 3

B. Utility and Demand  Ch. 8

C. Elasticity  Ch. 4

D. Efficiency and Equity  Ch. 5 

E. Global Markets in Action  Ch. 7

10/19 ******MID-TERM EXAM****** Chapters 1, 2, 3-5, 7 & 8

III. FIRMS AND MARKETS: 21, 26, 28, 11/2, 4

A. Organizing Production  Ch. 10

B. Output and Costs  Ch. 11

C. Perfect Competition   Ch. 12

D. Monopoly   Ch. 13

E. Monopolistic Competition   Ch. 14

          F. Oligopoly   Ch. 15 

IV. FACTOR MARKETS:  09

    Markets for Factors of Production  Ch. 18

V. MARKET FAILURES AND GOVERNMENT:  16, 18

          A. Externalities   Ch. 16

          B. Public Goods and Common Resources   Ch. 17

          C. Government Actions in Markets   Ch. 6

          D. Economic Inequality   Ch. 19

Sect. 02: Nov. 25, 2009 ***FINAL EXAM*** 5:00 - 7:30 p.m.

Sect. 03: Nov. 23, 2009 ***FINAL EXAM*** 8:00 - 10:30 p.m.