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ECON113102,PrinciplesofEconomics1
Microeconomics
SummerSessionII,2016
June27–August3
3Credits
Instructor:FrancescaToscano
Email:toscanof@bc.edu
Office:MaloneyHall,3rdFloor,339
OfficeHours:W3‐5PM
Schedule:MW6:15‐9:30PM
BostonCollegeMissionStatement
Strengthenedbymorethanacenturyandahalfofdedicationtoacademicexcellence,Boston
College commits itself to the highest standards of teaching and research in undergraduate,
graduate and professional programs and to the pursuit of a just society through its own
accomplishments, the work of its faculty and staff, and the achievements of its graduates. It
seeks both to advance its place among the nation's finest universities and to bring to the
companyof itsdistinguishedpeers andtocontemporarysocietythe richnessofthe Catholic
intellectual ideal of a mutually illuminating relationship between religious faith and free
intellectualinquiry.
Boston College draws inspiration for its academic societal mission from its distinctive
religious tradition. As a Catholic and Jesuit university, it is rooted in a world view that
encountersGodinallcreationandthroughallhumanactivity,especiallyinthesearchfortruth
ineverydiscipline,inthedesiretolearn,andinthecalltolivejustlytogether.Inthisspirit,the
University regards the contribution of different religious traditions and value systems as
essential to the fullness of its intellectual life and to the continuous development of its
distinctiveintellectualheritage.
CourseDescription
“Microeconomics Principles” is a class that aims to analyze prices, output, and income
distribution through the interaction of households and business firms in a modern Western
economy. The appropriate role of government intervention is examined and basic analytical
toolsareappliedtocurrenteconomicproblems.
CourseObjectives:
1. Students will learn the fundamental principles of microeconomic theory. More in
detail,thisclasswillfocusonthedecisionsofhouseholdsandfirms.Studentswilllearn
how to approach the supply and demand analysis, the role of government in the
economy and how people make choices. The different forms of market competition
willbeexploredaswell.
2. Students will apply course material to analyze real‐world markets. The goal is to
realize that everyday life is strongly influenced by economic principles. Our labor‐
leisuretrade‐offisastandardexampleofeverydaydecisionfollowingeconomicrules.
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3. Studentswilldemonstratecriticalthinking acrossculturalsettingsandwilllearnthe
impact of culture, gender and age in economics as demonstrated by the analysis of
consumerchoicesandpreferences.
4. Students will demonstrate ethical conduct pertaining class participation as
demonstratedbyarespectfulbehaviorforclassmates’opinionsandneeds.
Grading
The grade will be determined using the following weighting scheme. In same cases, the
weighting scheme may change to account for missed quiz or midterm, academic integrity
violationsorothercircumstances(attheinstructor’sdiscretion):
AttendanceandParticipation10%
OnlineProblemSets15%
Quiz1
10%(30min)
Midterm1
25%(60min)
Quiz2
10%(30min)
CumulativeFinalExam30%
WCASGradingSystem
Theundergraduategradingsystemconsistsoftwelvecategories:A(4.00),A‐(3.67),excellent;
B+ (3.33), B (3.00), B‐ (2.67), good; C+ (2.33), C (2.00), C‐ (l.67), satisfactory; D+ (l.33), D
(l.00),D‐(.67),passingbutunsatisfactory;F(.00),failure;I(.00),incomplete;F(.00),course
droppedwithoutnotifyingoffice;W(.00),officialwithdrawalfromcourse.
GradeReports
AllstudentsarerequiredtologintothewebthroughAgoratoaccesstheirsemestergrades.
Students must utilize their BC username and password to log on. If your username or
password is not known, the HELP Desk located in the Campus Technology Resource Center
(CTRC)inO’NeillLibrarywillissueanewone.TheCTRCrequiresavalidpictureID(aBCID,
driver’slicenseorpassport)toobtainyourpassword.
ExaminationDates
Therewillbetwoin‐classquizzes,onein‐classmidtermexam,andonefinalexam.Thedates
arelistedbelow.Pleasemarkthesedatesinyourcalendars.
Quiz1(30min)Monday,July6,inClass
Midterm(60min)Wednesday,July18,inClass
Quiz2(30min)Wednesday,July27,inClass
FinalCumulativeExamWednesday,August3,inClass
Alltheexaminationswillbeclosedbook.Studentsarenotallowedtouseclassnotes.However,
they can use a basic calculator. More details about quizzes, midterm and final exam will be
providedinclass.
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MissedExaminations
Asageneralrule,therearenomake‐upexamsforthisclass.
 Ifforanyjustifiablereason,astudentonlymissesthefirstquiz,theweightofthisquiz
willbeequallydistributedovertheremainingquizandmidterm.
 If for any justifiable reason, a student only misses the midterm, the weight of the
secondquizwillbeincreasedby5%andtheweightofthefinalexamwillbeincreased
by20%.
 If for any justifiable reason, a student misses the first quiz and the midterm or the
second quiz and the midterm, then I might require a make‐up exam or a different
make‐upwork.Inthe rarecasesinwhichthisisnotpossible,thenthe weightofthe
twomissingexamswillbedistributedoverthefinalexam.
I can excuse students from a quiz or a midterm only after receiving the Dean’s
recommendation.StudentsshouldcontacttheirDeanassoonastheyknowtheywillmissone
ormoreoftheexams.
Please,notethatstudentscanusuallybeexcusedforillnesses,familyemergenciesandincase
of participation to athletic events (if an adequate certificate is provided). However,
extracurricularactivities,corseworksandmidtermsforotherclasseswillnotexcusestudents
fromanyoftheexams.
TextandReadings
Studentswillhaveaccesstothreedifferentsourcestostudyforthisclass.
1. Book:PaulKrugmanandRobinWells,Microeconomics,FourthEdition
2. WeeklyProblemSets:SaplingLearningOnlineHomeworkSoftware  Purchaseonlineat:http://saplinglearning.com  AdditionaldetailsabouttheSaplingsystemwillbeprovidedinclass.
3. Handouts:Theinstructorwillprovidehandoutsforeverytopiccovered.
 Handoutswillbedistributedattheendofeverychapter/topic.
 Handoutswillbedistributedviaemail.Makesuretocheckregularlyyouremail.
CourseAssignments(Readings,ProblemSetsandMidterms)
Atthebeginningofeachclass,IwillannouncethechapterthatIwillcoverduringthelecture.I
will distribute lecturenotes right after the class as well. Students are expected to spend two
hoursonthereadings(chapterandlecturenotes)foreverylecture.
Additionally, students will be responsible for weekly problem sets. Students can solve the
weeklyproblemsetsingroups.However,itisstronglysuggestedtoworkalone.Problemsets
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may vary in length. Students should plan to spend three hours on each of them. Studying
regularlyfortheweeklyproblemsetswillsavestudentstimeforthefinalcumulativeexam.
Before the midterm, a sample midterm will be distributed. The sample midterm will be
discussedinclass.Studentsaresupposedtoreadthesamplemidtermbeforegoingtoclassin
ordertoaskquestionsandclarifications.Thestyleofthemidtermwillfollowtheoneofthe
sample midterm. I will provide a sample final exam as well. I expect students to spend one
hourtoreadandsolvethesamplemidterm/exam.
Studentsareexpectedtospendaround14hoursperweektoreadthechaptersandthelecture
notes,tosolvetheweeklyproblemsets,toreviewthesamplemidterm/examandtogoover
theirnotesfromclass.Additional2hoursperweekarerequiredinordertogetpreparedfor
themidtermandthefinalexam.
TentativeCourseOutline(SubjecttoChange):
Date
Topic
Readings
6/27/2016
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Chapter1
Chapter2
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Chapter3
Chapter4
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Chapter5
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IntroductiontoEconomics
EconomicsandModels:Trade‐
offsandTrade
SupplyandDemand
ConsumerandProducer
Surplus
PriceControlsandQuotas
QUIZ1
Elasticity
6/29/2016
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7/6/2016
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7/11/2016
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Chapter6
7/13/2016
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Taxes
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Chapter7
7/18/2016
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Chapter8
7/20/2016
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Chapter9
Chapter10
7/25/2016
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Chapter11
7/27/2016
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InternationalTrade
MITERM
RationalConsumer
DecisionMakingby
IndividualsandFirms
BehindtheSupplyCurve:
InputsandCosts
PerfectCompetition
QUIZ2
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Chapter12
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Chapter13
Chapter15
8/1/2016
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MonopolyandOligopoly
8/3/2016
FINALCUMULATIVEEXAM
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AssignmentSchedule:
Topic
N°Assignment
Date
6/27/2016
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6/29/2016
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7/6/2016
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7/11/2016
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7/13/2016
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7/18/2016
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7/20/2016
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
7/25/2016

7/27/2016
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Introductionto
Economics
Economicsand
Models:Trade‐offs
andTrade
SupplyandDemand
Consumerand
ProducerSurplus
PriceControlsand
Quotas
Elasticity
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Assignment1
Assignment2
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Assignment3
Assignment4
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Assignment5
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Assignment6
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Assignment7
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Assignment8
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Assignment9
Assignment10
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Assignment11

Assignment12
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Assignment13
Assignment15
Taxes
InternationalTrade
RationalConsumer
DecisionMakingby
IndividualsandFirms
BehindtheSupply
Curve:Inputsand
Costs
PerfectCompetition
QUIZ2
DueDate
7/2/2016
7/5/2016
7/11/2016
7/16/2016
7/18/2016
7/23/2016
7/25/2016
7/30/2016
8/1/2016
8/1/2016
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Monopolyand
Oligopoly
8/2/2016
ClassParticipationandClassroomConduct
 Attending class is an important component of learning. Students are expected to
attendallclasssessions.Whencircumstancespreventstudentsfromattendingclass,
theyshouldsendanemailtomeexplainingthereasonsoftheabsence.Ifstudentsmiss
class,studentsarestillexpectedtocompleteallassignmentsandmeetalldeadlines.I
willtakeattendanceforeverylecture.If you missmorethan 50% of the lectures,
youwillreceivea0%ontheparticipationpartofyourgrade.
 I don’t use slides. I will explain the material using the blackboard. It’s students’
responsibility to get notes from classmates in case of missing classes. Students are
expectedtosupplementclassnoteswiththehandoutsIwillprovideandwiththebook
suggestedforthisclass.
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Studentsareinvitedtoaskquestions!Istronglysuggesttoaskquestionseverytime
something seems unclear or a bit misleading. This will help the entire class and, in
particular,itwillhelpmeinunderstandinghowtoimprovetheclass.
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Phonesandtabletsshouldbeturnedoff.
ImportantPolicies
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http://www.bc.edu/content/bc/schools/advstudies/guide/academicinteg.html
WrittenWork Summer Session students are expected to prepare professional, polished written work.
Writtenmaterialsmustbetypedandsubmittedintheformatrequiredbytheinstructor.
Studentsaresupposedto:
 Striveforathoroughyetconcisestyle.
 Cite literature appropriately, using APA, MLA or CLA style following the instructor’s
requirements.
 Developthoughtsfully,clearly,logicallyandspecifically.
 Proofreadallmaterialstoensuretheuseofpropergrammar,punctuationandspelling.
Forwritingsupport,pleasecontacttheConnorsFamilyLearningCenter.
ScholarshipandAcademicIntegrity It is expected that students will produce original work and cite references appropriately.
Failure to reference properly is plagiarism. Scholastic dishonesty includes, but is not
necessarily limited to, plagiarism, fabrication, facilitating academic dishonesty, cheating on
examinationsorassignments,andsubmittingthesamepaperorsubstantiallysimilarpapers
to meet the requirements of more than one course without seeking permission of all
instructorsconcerned.Scholasticmisconductmayalsoinvolve,butisnotnecessarilylimited
to,actsthatviolatetherightsofotherstudents,suchasdeprivinganotherstudentofcourse
materialsorinterferingwithanotherstudent’swork.
RequestforAccommodations Boston College is committed to providing accommodations to students, faculty, staff and
visitors with disabilities. Specific documentation from the appropriate office is required for
students seeking accommodation in Summer Session courses. Advanced notice and formal
registration with the appropriate office is required to facilitate this process. There are two
separateofficesatBCthatcoordinateservicesforstudentswithdisabilities:
 TheConnorsFamilyLearningCenter(CFLC)coordinatesservicesforstudentswithLD
andADHD.
 TheDisabilitiesServicesOffice(DSO)coordinatesservicesforallotherdisabilities.
Moredetailedinformationcanbefoundatwww.bc.edu/sites/accessibility.
FrancescaToscano