Lahore University of Management Sciences ECON 211–Intermediate Microeconomics Spring 2022 Instructor Room No. Office Hours Email Telephone TAs TA Office Hours TA Email Course URL (if any) Sher Afghan Asad sherafghan@lums.edu.pk 042 3560 8421 Course Teaching Methodology (Please mention following details in plain text) • Planned to be fully in-person. Course Basics Credit Hours Lecture(s) Recitation/Lab (per week) Tutorial (per week) Course Distribution Core Elective Open for Student Category Close for Student Category 4 Nbr of Lec(s) Per Week Nbr of Lec(s) Per Week Nbr of Lec(s) Per Week 2 Duration Duration Duration 1 hour 50 minutes Yes COURSE DESCRIPTION Microeconomics relies on theories and models to study the choices made by individuals and firms. Intermediate microeconomics builds on the principles of microeconomics course by adding mathematical models to the examination of consumer and producer behavior. Practicing the mathematics underlying microeconomic theory is the key to becoming a skilled economist. In addition, intermediate microeconomics has a strong focus on policy and its effects on behavior. COURSE PREREQUISITE(S) Principles of Microeconomics Calculus I COURSE OBJECTIVES The course aims to show students how to take the microeconomic tools and do something with them. When done the right way, economics is extremely useful: useful for business, useful for policy, useful for life. Grading break up: Component Details and weightages Assignment(s): 20% Quiz(s): 20% Class Participation: 10% Midterm Examination: 25% Final Examination: 25% Assignments There will be four homework assignments. Homework assignments must be completed by the deadline. No make-ups are allowed. You are encouraged to work in groups to solve the assigned problems; however, you must submit your own work and mention the name of all the members who helped you work through each problem. There will be zero tolerance for plagiarism. Lahore University of Management Sciences Quizzes There will be four announced quizzes. These quizzes will be held during the class time and mostly include multiple choice questions. N-1 policy applies for both the assignments and quizzes. However, this policy should not be considered as a right to miss a component but it is to account for any emergencies that may prevent you from attending a particular component. Class Participation Class participation is essential for learning the course material and demonstrating engagement and professionalism. I will be assigning short readings and other tasks as we go into the course. Your performance in those tasks will count towards class participation. I also expect you to be active in the class, participate in discussions, ask questions, and respond to the posed questions. You should read the textbook material before we cover the corresponding material in class and be able to answer and ask questions in class. Attendance Attendance is mandatory. Missing more than three lectures will result in a drop in a letter grade for the course. In the case of extenuating circumstances, talk to your TAs. Exams The final exam will be on the date and time scheduled by the university. The mid-term exam is TENTATIVELY scheduled for ….. Both midterm and final exams will be open-book and test your understanding of the contents (rather than memory). The final exam will cover the material after the midterm. COURSE OVERVIEW Week Basic concepts 1 1-2 Consumption 3-6 7 Recommended Readings Topics Adventures in Microeconomics Supply and Demand Goolsbee Ch. 1 Goolsbee Ch. 2 - 3 Consumer Behavior Individual and Market Demand Goolsbee Ch. 4 Goolsbee Ch. 5 Midterm Production 7-9 10 Markets and prices 11-12 13-14 Producer Behavior Costs Goolsbee Ch. 6 Goolsbee Ch. 7 Market power and monopoly Imperfect Competition Goolsbee Ch. 9 Goolsbee Ch. 11 Textbook(s)/Supplementary Readings Main text: Austan Goolsbee & Steven Levitt & Chad Syverson, 2019. "Microeconomics," Worth Publishers, Edition 3 The e-book is available with the library. Harassment LUMS is a harassment free zone. There is absolutely zero tolerance for any behavior that is intended, or has the expected result of making anyone uncomfortable and negatively impacts the class environment, or any individual’s ability to work to the best of their potential. If you think that you may be a victim of harassment, or if you have observed any harassment occurring in the purview of this class, please reach out and speak to me. If you are a survivor, I strongly encourage you to reach out to the Office of Accessibility and Inclusion at oai@lums.edu.pk or the sexual harassment inquiry committee at harassment@lums.edu.pk for any queries, clarifications, or advice. You may choose to file an informal or a formal complaint to put an end of offending behavior.
