Economics 201(01) & (02)
ESSENTIALS OF MICROECONOMICS
Instructor: Dr. Donald J. Oswald
Office Hours: M, W: 3:00 - 6:00
Office: BDC, Rm. 259A
Michael Parkin, Microeconomics, 10th ed., 2012
MyEconLab Website: www.pearsonmylab.com
Instructor's Web Site: http://www.csub.edu/~doswald
1. Develop critical thinking and analytical skills used by economists, which includes acquiring an understanding of the basic terms and perspectives, whether quantitative or qualitative, common to microeconomics.
2. Develop an understanding that the basic units of the micro-economy,
individuals, businesses, and governments inevitable make choices that directly
influence how society’s scarce resources are to be employed.
3. Understand the theoretical framework and the concepts that micro-economists employ to determine how the behavior of households and firms affect the functioning and performance of a market economy.
4. Understand the theoretical framework and the concepts that
micro-economists use to explain how product and factor markets are organized and
5. Study and reflect on the economic role, and the present controversies surrounding the role, of government in a free, market-based economy.
6. To equip students to better appreciate the methodology of microeconomics together with its strengths and weaknesses.
7. To ascertain whether the tools of microeconomics can be used to shed light on important aspects surrounding diversity issues.
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
3. Satisfactory completion of the following:
Quizzes (10 @ 30 pts. ea.). . . . . .. . . . . . . . . 300 points
Homework Assignments (3 @ 30 points ea.) . 90 points
Mid-term examination . . . . . . . . . . . . . . . . . . 150 points
Final examination . . . . .. . . . . . . . . . . . . . . . . 200 points
TOTAL . . . . . . . . . . . . . . . . . . . . . . . . . 740 points
In addition, you may choose to take five additional online, bonus quizzes for a possible total of 30 bonus points. To earn the bonus points on these quizzes, you must get at least 70% of the multiple-choice questions correct.
4. There will be no make-up quizzes. Your top 10 scores will be used in calculating your final grade.
5. 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 in the event a verifiable
excuse is not provided. Make-up
examinations will not be allowed after examination papers
are returned to the class.
6. Final course grades will be based on the following grading
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: 4/2, 4
A. Review Course Syllabus
B. What is Economics Ch. 1*
C. The Economic Problem Ch. 2*
II. HOW MARKETS WORK: 9, 11, 16, 18, 23, 25, 30
A. Demand and Supply Ch. 3*
B. Elasticity Ch. 4*
C. Efficiency and Equity Ch. 5*
D. Global Markets in Action Ch. 7**
05/07 ******MID-TERM EXAM****** Chapters 1, 2, 3-5, & 7
III. FIRMS AND MARKETS: 05/2, 09, 14, 16, 21, 23, 30
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: 6/4
Markets for Factors of Production Ch. 18*
V. MARKET FAILURES AND GOVERNMENT: 6/6, 11
A. Public Choices Ch. 16*
B. Economics of the Environment Ch. 17**
C. Government Actions in Markets Ch. 6**
D. Economic Inequality Ch. 19**
* There are required quizzes available online at MyEconLab for these chapters.
** There are bonus quizzes available online at MyEconLab for these chapters.
June 13, 2012 ***FINAL EXAM*** 2:00 - 4:30 p.m.
June 13, 2012 ***FINAL EXAM*** 8:00 - 10:30 p.m.