Villanova University
School of Business
Introduction to Microeconomics – Fall 2013
ECO-1001
Section
Time
012
8:30 AM
013
10:00 AM
014
11:30 AM
015
2:30 PM
Mary Kelly, Ph.D.
Office: Bartley 2016
Office phone: 9-6445
Office Hours: T/TH from 1:00 p.m. to 2:30 p.m. or by appointment
Email: mary.kelly@villanova.edu
Course Description:
This course is an introduction to the study of how microeconomic forces and policies
affect consumer choices and firm behavior. Topics addressed include the price system,
demand and supply analysis, consumer behavior and utility maximization, the production
process, and analysis of market structures.
Course Objective:
At the conclusion of this course, students should be able to evaluate, discuss, and apply
microeconomic principles.
Method:
Required
Textbook:
Other
Materials:
Lecture and Discussion
PowerPoint slides from the textbook are available in file folders on the
Course Content page of Blackboard. PowerPoint slides used in classroom
lectures will be emailed to students prior to class.
Microeconomics by R. Glenn Hubbard and Anthony Patrick O’Brien, 4th
edition, published by Pearson.
MyEconLab software for practice problems and exams
(www.myeconlab.com).
Access to the software package is bundled with the textbook when
purchased from the VU bookstore. Alternatively, the software access can
be purchased separately by going to the myeconlab website.
See attached registration instructions.
Articles and case studies relevant to chapter discussions. These articles
and case studies will be distributed via email.
The Wall Street Journal is available for free throughout Bartley Hall or
online at www.online.wsj.com/home-page.
Requirements
Exams
I (Chapters 1 through 4)
II (Chapters 5, 6, 10, 11)
III (Chapters 12, 13, 14 + industry study)
FINAL EXAM
Class Participation
%
65*
25
10
Date
September 24
October 29
December 3
December 19 at 11:30 AM
*The lowest exam score will be weighed at 15%. The two remaining exams will be
weighed at 25% each.
Exams:
Exams must be taken on the scheduled dates. Make-up exams will be offered only if you
present documentation from a medical professional of illness or documentation for
extraordinary circumstances preventing attendance. Determination of eligibility for a
makeup will be solely left up to my discretion.
Final Exam:
The final exam will cover all chapters and is scheduled by the University for Thursday,
December 19 at 11:30 AM. DO NOT schedule transportation home that conflicts with
taking the exam at this time.
Class Participation:
You may be called on at random. Therefore, you should be prepared for class. This
includes reading the chapter and any corresponding material from assigned readings
prior to coming to class.
Questions, comments, and discussion are valued, encouraged, and appreciated.
Laptops are not permitted to be used in class unless instructed by me. Prior to class, you
may print the lecture PPT slides and take notes on them.
Begins at
94
90
87
84
80
77
Grade
A
AB+
B
BC+
Begins at
74
70
67
64
60
Below 60
Grade
C
CD+
D
DF
Grading is determined based on the
specified criteria. TO BE FAIR TO
ALL STUDENTS, THERE IS NO
STUDENT-SPECIFIC EXTRA
CREDIT OFFERED IN THIS
COURSE.
Integrity Policy:
The Code of Academic Integrity of Villanova University addresses cheating, fabrication
of submitted work, plagiarism, handing in work completed for another course without
instructor’s approval, and other forms of dishonesty. For the first offense, a student who
violates the Code of Villanova University will receive 0 points for the assignment. The
violation will be reported by the instructor to the Dean’s Office and recorded in the
student’s file. In addition, the student will be expected to complete an educational
program. For the second offense, the student will be dismissed from the University and
the reason noted on the student’s official transcript.
Classroom Etiquette:
It is expected that students and the professor will:
 display courtesy and respect for each other during class.
 arrive on time and remain until the class ends. Unless it is an emergency,
bathroom breaks should be taken before or after class.
 turn off all computers, cell phones, tablets, and other electronic devices prior to
the start of class.
The classroom is a professional environment. Students and the professor will conduct
themselves accordingly. This includes, but is not limited to, no hats or other head
coverings except for documented religious reasons, no side bar conversations, other
extraneous chatter, or other inappropriate behavior.
Disability Statement:
It is the policy of Villanova to make reasonable academic accommodations for qualified
individuals with disabilities. If you are a person with a disability, please contact me after
class or during office hours and make arrangements to register with the Learning Support
Office by contacting Nancy Mott at 610-519-5636 as soon as possible. Registration is
needed in order to receive accommodations.
Tentative Course Outline:
Week(s)
1-4
(8/27 –
9/19)
Chapter(s) and Assignments
Review of syllabus
Chapter 1 - Economics: Foundations and Models (and Appendix)
Chapter 2 - Tradeoffs, Comparative Advantage, and the Market System
Chapter 3 – Where Prices Come From: The Interaction of Demand &
Supply
Chapter 4 – Economic Efficiency, Government Price Setting, and Taxes
5
5-9
(9/26 10/24)
EXAM I (Chapters 1 through 4) on September 24
Chapter 5 – Externalities, Environmental Policy, and Public Goods
Chapter 6 – Elasticity: The Responsiveness of Demand and Supply
Chapter 10 – Consumer Choice and Behavior Economics (and Appendix)
FALL BREAK during week 8
Chapter 11 – Technology, Production, and Costs (and Appendix)
9
10- 15
(10/31 –
11/28)
EXAM II (Chapters 5, 6, 10, 11) on October 29
Chapter 12 – Firms in Perfectly Competitive Markets
Chapter 13 – Monopolistic Competition: The Competitive Model in a More
Realistic Setting
Chapter 14 – Oligopoly: Firms in Less Competitive Markets
Industry Study
15
15-16
(12/05 12/12)
EXAM III (Chapters 12, 13, 14) on December 3
17
FINAL EXAM on December 19 at 11:30 AM
Chapter 15 – Monopoly and Antitrust Policy
Open topic:
 Labor (unions and immigration)
 Income Inequality and Poverty