Principles of Economics
Professor Ted Bergstrom
Your Text:
Experiments with
Economic Principles
By Prof. Bergstrom & John Miller
Course Information on Class
Web Page
• Go to www.econ.ucsb.edu
• Click on Class Pages
• Click on Economics 1
Everything you need to know about class is
here. Refer to it frequently!
Learning By Doing
• Participate in Experiment Each Week
(Including this week!)
• Do homework to analyze experiment
• Attend Lecture to discuss theory behind
experiment
• Frequent quizzes, usually on Wednesdays
Experiments and Homework
• Before section, do warm-up exercise in text.
• Participate in experiment, make lab profits.
• We will post data on your experiment within
three days of the section meeting.
• Use experimental data to complete homework
assignment.
• Turn in homework at next section meeting.
Class Web Page
• Class web page has daily schedule of
experiments, lectures, and quizzes.
• Experimental data for homework.
• Test scores and profits.
• Practice questions for quizzes.
• Lecture slides can be viewed from web
page.
Computer Access at UCSB
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You need internet access.
Homework is easier if you use Excel
Open Access Lab in Phelps 1529
You can get IC sticker in Phelps 1523.
(Need to show proof of enrollment in
Economics 1)
Quizzes
• Wed, April 10 (middle of next week)
• Wed, April 24
• *Mon, May 6
• *Wed, May 15
• *Wed, May 29
(*In the class presentation, I had these dates right
but the day of the week wrong. This is now
corrected.)
There are NO MAKEUPS. We drop your lowest
quiz score when calculating course grades.
Final Exam
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Monday June 10, 12 noon- 3pm
No make-ups
No alternative times
If this doesn’t work for you, take Econ 1
in another quarter.
• It is offered every quarter.
Grade Distribution
• Department recommended grading
standard
• A 12 percent
• B 33 percent
• C 40-45 percent
• D-F 10-15 percent
I do not negotiate grades. Don’t even try!
A message to non-majors
• If you have no intention in majoring in
economics, but are taking this course to
fill a distribution requirement, this
message is for you.
• If you don’t want to work very hard
and\or are looking for an easy grade, this
is the WRONG course for you.
• You might want to consider Econ 109.
Dropping Econ 1
• Drop date is April 26 at 4pm.
• You will have had two quizzes by then. If
you are doing badly, keep this in mind.
• You can petition the dean to drop after
that date…
• But I won’t support your petition, except
in the case of major medical problems.
Sections
• Go to your section meeting this week.
• You will not be allowed to switch sections
and you must attend the section that you
registered for in order to get attendance
credit.
• Remember section attendance affects
your grade through direct credit, through
your winnings, and your homework.
Equipment Needed
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Textbook
Colored Pens for Homework
Scantron F1712 sheets for quizzes and final
#2 Pencil and eraser for quizzes and final
Access to web and to Excel
Your First Econ 1 Lesson
• Caveat Emptor. What does it mean?
• Let the buyer beware.
• We try to make Econ 1 interesting,
informative, fun…
• But we don’t promise it will be easy,…
• And we have high standards.
• The choice is yours.
Campbell Hall Acoustics
• Sound Travels.
• Be courteous.
• Do not rattle desks or leave the room
until the class is over.
What happens this week?
• Read through the class rules on the class
website.
• Read the instructions for Experiment 1
and work the warm-up exercise.
• Go to your section.
• No Lecture this Wednesday!
• SEE YA!