ECON 201: Principles of Economics - Micro
10:00-10:50am – MTWRF in SS 107
Instructor
Winter 2014
Dr. Roy Savoian
* Contact info: 509/963-1954 and savoianr@cwu.edu
* website: www.cwu.edu/~savoianr
[includes biographical information]
* Office: Shaw-Smyser 301
* Office Hours: 9:00-10:00am, T-W-R; and, by appointment
*Note about Communication: I do not engage in tweeting, send or receive text
messages, have a Facebook account or teach using Blackboard. You can communicate
with me outside of class by telephone, email and, of course, face-to-face in my office. I
will know you by your name and hope to get to know you as a student in my class and,
perhaps, as a prospective major in the College of Business. I look forward to greeting
you by name on-campus and in town.
Textbook
Paul Krugman and Robin Wells, Microeconomics 3rd Edition (Worth
Publishers 2013)
The Wall Street Journal is available at a deep discount to students for a 10 week
subscription. [Information distributed in class.] I encourage students to
read the WSJ, and/or any daily/weekly business-economics publication or
website.
Course Description
[from CWU Catalogue]
The function of the market system in the allocation of scarce resources, determination
of prices and output in competitive and monopolistic markets, and distribution of
income; the role of government in the market economy.
Learning Objectives and Outcomes
Objectives:
The primary objective of the course is for students to gain an understanding and
appreciation for the power of microeconomics in understanding economic behavior and
the human experience associated with economic activity. Students will become familiar
with supply and demand analysis and how these tools can be used to predict consumer
and producer behavior. In addition, students will be able to define economic efficiency
and its value in examining economic behavior and public policy. Finally, students will
learn to work with the complementary nature of verbal, graphical and, to some extent,
mathematical expositions of microeconomics.
Outcomes:
 Understand the study of economics, including concepts of scarcity and choice






Use demand, supply and market equilibrium analysis
Develop concepts related to elasticity
Develop an understanding of the costs of production and profit maximization
behavior of the firm
Understand the effect of changes in market structure on firm behavior
Understand the nature of economic efficiency and its relationship to market
structure.
Use economic efficiency to analyze the effects of government policy on markets.
Textbook Features
Important issues and examples are featured through-out the text in each chapter to
connect microeconomics to the real world and re-enforce learning. It is strongly
suggested that you read these features and be prepared to discuss them in class and/or
on an exam.
 "For Inquiring Minds"
 "Pitfalls"
 "Business Case"
 "Economics in Action"
 "Check Your Understanding"
 "Quick Reviews"
Your study strategy and preparation for exams should also include sections in each
chapter: "Key Terms," "Summary" and "Problems."
Examinations and Grading
5 Unit Exams are scheduled –
4 highest scores will count: 50 points each x 4 Unit Exams
Comprehensive Final Exam
TOTAL
90% and above
80-89%
70-79%
60-69%
59% and below
= A- or A
= B-, B or B+
= C-, C or C+
= D-, D or D+
=F
= 200 points (67%)
= 100 points (33%)
= 300 points
270-300 points
240-269
210-239
180-209
179 or less
You are expected to attend class when each Exam is scheduled. There are NO makeup exams or early exams. So, please plan your social or travel schedule accordingly.
Exams are be comprised of multiple choice questions, definition of terms/concepts, and
essay questions/problems. You are expected to write in a clear and grammatically
correct manner, and to clearly label graphs. You are also expected to show your work
in calculating a solution to exam problems.
Course Schedule:
Week Week of
1
January 6
Chapters/Topics
Syllabus
Introduction
Ch. 1-First Principles
2
January 13
Ch. 2 AppendixGraphs in Economics
Ch. 2-Economic Models
3
January 20
[Jan 20 = Martin Luther King, Jr. Holiday]
Ch. 3-Supply and Demand
4
January 27
Ch. 4-Consumer
and Producer Surplus
5
February 3
Ch. 5-Price Controls and Quotas
6
February 10 Ch. 6-Elasticity
7
February 17 [Feb 17 = President's Day Holiday]
Ch. 7-Taxes
Ch. 9 (pp. 243-255)-Decision Making
(Costs, Benefits, Profits)
8
February 24 Ch. 11-Behind the Supply Curve
(Production and Costs)
9
March 3
Ch. 12-Perfect Competition
10
March 10
Ch. 13-Monopoly
Friday, January 17
UNIT EXAM #1
Friday, January 31
UNIT EXAM #2
Friday, February 14
UNIT EXAM #3
Friday, February 28
UNIT EXAM #4
Friday, March 14
UNIT EXAM #5
COMPREHENSIVE FINAL EXAM: Thursday, March 20 at 8:00-10am
Students with Disability
Students with a disability who wish to set up an academic adjustment in this class
should submit their “Academic Accommodation Plan” found on the Disability Services
website at www.cwu.edu/disability-support/ The Disability Services Office is located in
Bouillon 140 or ds@cwu.edu or 963-1202.
Seating and Class Attendance
Please sit in the same seat for all class meetings. You are expected to attend all class
meetings. However, you are allowed two (2) absences -- excused or unexcused, it
doesn't matter. After 2 absences, 5 points will be deducted for each absence.
College of Business: Statement of Conduct and Code of Honor
[from the College of Business "Mission Statement"]
The College of Business is a learning community committed to a set of core values
based on integrity, respect and responsibility that guide our interactions.
Integrity: the quality of possessing and steadfastly adhering to high moral
principles or professional standards
Respect: to show consideration or thoughtfulness in relation to others
Responsibility: the state, fact, or position of being accountable and responsible
As College of Business students we pledge to uphold these standards of
professionalism and conduct ourselves in accordance with them.
We will not lie, cheat, or steal, and will not tolerate those who do. Our behavior defines
who we are and what we will become.
Simple Rules
Please turn-off your cell phone. You can use an electronic device to take notes, but no
"surfing" the Internet or doing homework. Violators will be asked to leave class.
Furthermore, by virtue of enrollment in a College of Business course, all students are
expected to act in a civil manner in class and be respectful of their peers and the
professor. Behavior to the contrary will result in disciplinary action and possible
expulsion from the class.
Class Conduct: Cheating
Any student caught cheating will be removed from the class with an "F." He or she will
also be subject to the fullest provisions of the CWU Student Handbook, including
suspension and/or expulsion from the university. Plagiarism (i.e., taking an idea or
writing from another and passing it off as one's own) is considered cheating. In
particular, using a "crib sheet" or looking at another student's exam during a test is
cheating. Any other misrepresentation of one's work will also be subject to
consideration as cheating. Conclusion .... Cheating will not be tolerated!