Economics 349 > Intermediate Microeconomics > Syllabus
Spring 2006
Dr. Delemeester
Marietta College
Prerequisites: Economics 211.
Course Description and Objectives
As a science, economics provides a rigorous framework in which to organize observed economic
phenomena so that we may come to some understanding of the world about us. The economy is a
complex relationship of variables and behavior. Consequently, precision of language is necessary
to the comprehension of economic relationships. The discipline of economics requires clear logic
and clear thinking and promotes those qualities in those who study the subject.
Microeconomics is the study of rational choice behavior on the part of individual consumers and
firms. In general, economists are interested in how market mechanisms solve extremely complex
resource allocation problems. This course is designed to present a logical and coherent framework
in which to organize observed economic phenomena. Several economic "models" are developed
and analyzed in order to help explain and predict a wide variety of economic (and sometimes,
seemingly non-economic) phenomena. Microeconomic theory is based on the notion that
individuals (and firms) have well defined objectives (e.g., maximizing utility or profits) and behave
systematically according to the incentives and constraints of their economic environment. It is this
framework which allows the economist to gain a fundamental understanding of the human puzzle
in an economic setting.
Intermediate microeconomics is an extenuation of what you learned in Economics 211. Most of the
material should be familiar to you, so expect us to move a bit more rapidly than we did in the
principles course.
With that said, upon completing this course you should be able to:
 understand basic economic analytical tools, which means being able to define, recognize, and provide





illustrations of them;
understand the role of markets in allocating scarce resources;
understand the impact of government intervention in the market;
understand discussions involving business and politics;
ask good questions, both to yourself and to others;
make good conjectures regarding the answers.
Contact Information
Office Hours: MTWT 1:00 - 2:00pm
Phone:
376-4630
Web Page
www.marietta.edu/~delemeeg/econ349
Email:
delemeeg@marietta.edu
Texts
We will be using Microeconomics by Pindyck and Rubinfeld (6e, Prentice Hall). There is a web site
for the Pindyck/Rubinfeld book.
Course Requirements and Policies
1.
There will be four exams. Exams will be based on the assigned readings and problem sets.
Only your best three scores will count.
Problem sets containing numerical and analytical questions will precede each exam. You
will be asked to complete individual questions as homework or in-class assignments.
Spreadsheet projects. See details below.
Course blog. See details below.
Academic dishonesty is a breach of the trust that the instructor and your fellow classmates
place in you and will not be tolerated. Academic dishonesty includes cheating, plagiarism,
theft, or improper manipulation of laboratory or research data or theft of services. A
substantiated case of academic dishonesty may result in disciplinary action, including a
failing grade on the project, a failing grade in the course, or expulsion from the College" (
Marietta College Undergraduate Programs, 2005-2006 Catalog, p. 135). All suspected
cases will follow the procedures outlined in the Marietta College Catalog. Copyright
violations are also quite serious breaches of the law. Please visit the MC copyright tips
page for further details.
Academic support services and resources are available at Marietta College's Academic
Resource Center (ARC) located on the third floor of Andrews Hall.
Any student needing accommodations due to a documented disability should notify the
instructor AND the Academic Resource Center (Andrews Hall, Third Floor, 376-4700) at the
beginning of the semester for further instructions.
Co-curricular probation for those on academic probation is in effect. Please refer to the
college catalog for details (Marietta College Undergraduate Programs, 2005-2006
Catalog, p. 141).
Grades will be determined according to the following methods:
2.
3.
4.
5.
6.
7.
8.
9.
Grades are allocated as follows:
Exams (average of best 3 scores)
60%
Problem Sets (average of best 7 scores)
20%
Spreadsheet Projects (average of 4 scores) 15%
Blog
5%
Grades will be assigned according to the following plus/minus
system, using standard rounding methods:
Grade
Percent
Score
A+ A
A- B+ B
B- C+ C
C- D+ D
D- F
97 93- 90- 87- 83- 80- 77- 73- 70- 67- 63- 6059+ 96 92 89 86 82 79 76 72 69 66 62
Spreadsheet Projects [This section is adapted from Mark Walbert.]
To demonstrate a detailed understanding of the microeconomic models you will work on during the
semester, you will create your own spreadsheet templates similar to those you will work on in
class. These template must be useful by someone new to economics who wants to learn how to
manipulate the graphical model. [If it sounds tough, take heart, one of the job skills sought after by
employers is a working knowledge of spreadsheet software!] (Read the Instructions before
beginning the project.)
Spreadsheet 1: Supply & Demand Model [Due before Exam 1]
Spreadsheet 2: Budget Curve -- Indifference Curve Model [Due before Exam 2]
Spreadsheet 3: Competitive Model [Due before Exam 3]
Spreadsheet 4: Monopoly Model [Due before Exam 4]
Course Blog*
A blog for this class has been set up at http://mariettaecon.blogspot.com/. Blogging is an
interactive process between writers and readers. Readers may not agree with the opinions you
express, and are free to tell you so. This includes me, although I attempt to stick to assertions,
facts, and conclusions that are within the mainstream of economics.
A post is a new contribution on a topic of your choice. All posts must include at least one hyperlink
to material from outside the class blog, and they must include some degree of economic analysis
on your part that integrates the concepts learned in class.
A comment is a new contribution to a pre-existing post intended to extend or clarify the discussion.
You may also ask questions requiring clarification or explanation from me or the student who wrote
the original post. Comments need not include new facts, though they must have some foundation
in economics. They should not be purely opinion. I want to see discussion and debate, not
dogmatism.
You will receive credit for posts and comments. A full score is worth 36 points. The course is
divided into four sections, each culminating with an exam. Within each of the four sections, you
will receive 5 points for your first post. After that, each additional post receives 1 point. Your first
two comments within each section are worth 2 points each and each additional comment receives
1 point. From those amounts I may subtract points for errors of fact, spelling, grammar, or style.
Comments on your own posts will not be awarded credit, unless they are replies to earlier
comments.
Completion of a blog post or comment will be evaluated by the time stamp attached to the e-mail
notification I receive from Blogger noting your post or comment. I will count all posts and
comments that arrive with a time stamp before 9:00am on Exam day. Later posts or comments will
count fully, but for the following period. The deadline for all section 4 posts/comments is 9:00am
May 5, 2006.
The implications of this system are that: 1) the minimum amount of work to get 36 points is to do
one post and two comments in each of the four sections, 2) the maximum number of points you
can earn is 45, and therefore 3) it is possible to earn extra credit from blogging.
In order to begin posting to the blog you must first complete the free registration with Blogger. In
order to do this, I will need your email address so that I can send an invitation to you to join the
blog. Once you receive the invitation via email, simply follow the instructions to create your
account.
*[This section is adapted from David Tufte]
Course Outline
Part I: Supply and Demand Model
Chapter 1
Chapter 2
Chapter 9
Spreadsheet #1 Due
Exam 1: February 16, 2006
Part III: Market Structure I
Chapter 6
Chapter 7
Chapter 8
Spreadsheet #3 Due
Exam 3: April 11, 2006
Part IV: Market Structure II
Part II: Consumer Theory
Chapter 10
Chapter 3
Chapter 11
Chapter 4
Chapter 13
Spreadsheet #2 Due
Spreadsheet #4 Due
Exam 2: March 9, 2006
Exam 4: May 11, 2006 (8:30am)