E
CONOMICS
201: P
RINCIPLES OF
M
ICROECONOMICS
Fall 2013
M 6pm – 8:50pm
111 Bryan Building
I
NSTRUCTOR
: Professor Dora Gicheva
Office: 459 Bryan Building
Phone: 334-4865
E-mail: d_gichev@uncg.edu
Office Hours: Monday 1-3pm and by appointment
C OURSE D ESCRIPTION : In this course we will analyze how individuals and firms cope with the fact that they have unlimited wants but limited resources. Some of the main concepts that will be introduced include market systems, supply and demand, market equilibrium, elasticity, business costs, and resource markets.
R
EQUIRED
C
OURSE
M
ATERIALS
:

Textbook : Microeconomics : Brief Edition by McConnell, Brue and Flynn, 2 nd
Edition. The bookstore has the loose-leaf version. Make sure that you DO NOT purchase the bundle with access to Connect Economics, which is required for other sections of ECO 201.

Online Account : You must purchase access to Sapling Learning. Each student is required to have his or her own account. All homework assignments will be turned in through this account. Register online as soon as possible. The first homework assignment is due August 26th, and you must have an account in order to turn in the assignment.
1.
Go to http://saplinglearning.com and click "US Higher Ed" at the top right.
2.
a.
If you already have a Sapling Learning account, log in then skip to step 3. b.
If you have Facebook account, you can use it to quickly create a Sapling Learning account. Click the blue button with the Facebook symbol on it. The form will auto-fill with information from your Facebook account (you may need to log into
Facebook in the popup window first). Choose a password and timezone, accept the site policy agreement, and click "Create my new account". You can then skip to step 3. c.
Otherwise, click "Create an Account". Supply the requested information and click
"Create My Account". Check your email (and spam filter) for a message from
Sapling Learning and click on the link provided in that email.
3.
Find your course in the list and click the link:
University of North Carolina,
Greensboro-ECO201 M-FALL13-GICHEVA
Be careful to enroll in the correct section of the course.
4.
Select a payment option and follow the remaining instructions.
5.
When prompted, enter the key code for your course: Monday

6.
Work on the Sapling Learning training materials. The activities, videos, and information pages will familiarize you with the Sapling Learning user environment and serve as tutorials within the Sapling Learning answer modules. These training materials are already accessible in your Sapling Learning course.
S
TUDENT
S
TUDY
P
ROGRAM
: As a student in this course, you have the opportunity to participate in the Student Study Program (SSP), which is one of the four programs housed in the Student Success Center located in the McIver Building. The Student Study Program is designed to offer additional academic support for students enrolled in large classes that have proven to be historically difficult.
The purpose of the Student Study Program (SSP) is to provide undergraduate students with the opportunity to form collaborative study groups of up to 4 students. Students will be matched by the program coordinator with other students in the same course and section number. To sign up or to learn more about SSP, go to http://success.uncg.edu/ssp/ . If you have further questions, you may also contact the Coordinator of the Student Study Program,
Jae Haley, at ssp@uncg.edu
.
You will receive a 10 point extra credit toward the first homework assignment for signing up for SSP.
C OURSE O BJECTIVES : At the end of this course you should be able to:

Understand that scarcity gives rise to choice, that every choice has an opportunity cost, and that trade-offs always exist. Demonstrate these concepts using a production possibilities diagram.

Distinguish between absolute and comparative advantage and apply to trade issues.

Thoroughly comprehend the demand and supply diagram, the meaning of equilibrium, and how to do basic comparative statics. Recognize differences between shifts in a curve and movements along a curve. Analyze the effects of price-fixing, both price supports and price ceilings.

Understand the notion of elasticities of demand and supply.

Use the concepts of consumer and producer surplus to analyze the efficiency characteristics of competitive markets. Apply these to various policy issues.

Develop the concepts of production and costs of production. Combine these with revenue concepts to develop a theory of firm behavior.

Recognize alternative market structures, and the policy requirements or options associated with each.
S TUDENT R ESPONSIBILITIES : Over the course of the semester I expect you to:

Attend class regularly and arrive on time. Not all of the material I teach is covered in the textbook, so it is very important that you do not miss class if you want to do well.

Come to class prepared. Reading the relevant textbook chapter before lecture will be extremely helpful.

Use laptops only for taking notes. If I find that one or more students are using their laptops for other activities, such as surfing the internet, I reserve the right to prohibit the

use of computers during lecture. Please be respectful and do not use your cell phone in class.

Refrain from talking to your neighbors during class, even if you are discussing the class.
If you have questions raise your hand, or wait to ask them during office hours.

Spend a minimum of 5 hours each week reading, reviewing, and completing homework assignments outside of class. If this is not feasible for you given your other time commitments, perhaps this is not the class for you.

Approach me with any concerns you have about the class. If you are struggling with any part of the material, it is most likely that you are not alone. It is best if I know sooner rather than later.
G
RADES
: Grades will be based on the following components:
Homework
Midterms
Final
Attendance
20%
50%
30%
See below
Homework : There will be twelve problem sets. Problem sets are designed to be representative of the material on the midterms and final exam. All problem sets must be turned in via your online Sapling Learning account, and are due at 5pm on the assigned due date. No late homework will be accepted.
It is a good idea to work on the homework assignments in groups but you have to complete and turn in your own problem set. Because technical difficulties or unforeseeable circumstances may occasionally interfere with your ability to submit assignments by the due date/time, I will drop your lowest score before calculating your total homework average. The remaining assignments (those not dropped) will receive equal weight in your homework grade.
Midterms : Three in-class midterm exams will be held on September 16, October 7 and
November 11 . The midterms are to be done independently, in class, without use of notes or textbooks. You may bring a calculator to the exam. Cell phones cannot be used as calculators.
I will drop your lowest midterm grade, including when one of them is a zero (i.e. you didn't take the midterm regardless of the reason). No make-up midterms will be given.
Each of the two midterms that are not dropped will receive equal weight (25%) when computing your course grade. You must bring a scantron sheet purchased from the UNCG bookstore to each midterm and the final exam.
Final Exam : The final will be comprehensive, with a slight emphasis on the material covered after the third midterm. The final exam will be given only on the date scheduled by the University, which is Monday, December 9, 7pm – 9pm .
Attendance: For every 2 unexcused absences, your final grade will be reduced by 10 percentage points (for example from 83% to 73%). Valid excuses must be approved by me before class. I take roll at the beginning of class. If you are late and miss it, I will count this as an absence. You must let me know in advance if you need to leave class early, otherwise this will also count as an absence.

No individual extra credit assignments will be available at any point during the semester. All grade disputes must be addressed in writing.
I utilize the following scale to convert number into letter grades:
A+ 98% to 100%
A
A-
93% to 98%
90% to 93%
B+
B
B-
C+
C
C-
86% to 90%
83% to 86%
80% to 83%
76% to 80%
73% to 76%
70% to 73%
D+
D
D-
F
66% to 70%
63% to 66%
60% to 63% below 60%
I do not round the numbers. For example, a final score of 85.9% corresponds to a B, but a score of 86.0% will guarantee a B+.
A
CADEMIC
I
NTEGRITY
P
OLICY
: Students are expected to know and abide by UNCG’s
Academic Integrity Policy in all matters pertaining to this course. Violations will be pursued in accordance with the Policy. The link to UNCG’s academic integrity policy is: http://sa.uncg.edu/handbook/academic-integrity-policy/
F ACULTY AND S TUDENT G UIDELINES can be found at http://bae.uncg.edu/wpcontent/uploads/2012/08/faculty_student_guidelines.pdf
. Please read them carefully.
P
LEASE NOTE
: The information on this syllabus is a contract between me and my students. By registering for and remaining in this class, you acknowledge that you have read the course syllabus for the Fall 2013 ECO 201-05 class and agree to all of the requirements of the course.

C
OURSE
O
UTLINE
Week 1 – August 19
Week 2 – August 26
Week 3 – September 9
Week 4 – September 16
Week 5 – September 23
Week 6 – September 30
Chapter 1 : Limits, Alternatives and Choices
Problem Set 1 due August 26
Chapter 2 : The Market System
Problem Set 2 due September 9
No class on September 2 (Labor Day)
Chapter 3 : Demand, Supply, and Market Equilibrium
Problem Set 3 due September 16
Midterm I – September 16
Chapter 4 : Elasticity of Demand and Supply
Problem Set 4 due September 23
Chapter 4 : Elasticity of Demand and Supply
Chapter 5 : Public Goods and Externalities
Problem Set 5 due September 30
Chapter 6 : Businesses and Their Costs
Problem Set 6 due October 7
Midterm II – October 7
No class on October 14 (Fall Break)
Week 7 – October 7
Week 8 – October 21
Week 9 – October 28
Week 10 – November 4
Week 11 – November 11
Week 12 – November 18
Week 13 – November 25
Chapter 7 : Pure Competition
Problem Set 7 due October 28
Chapter 8 : Pure Monopoly
Problem Set 8 due November 4
Chapter 9 : Monopolistic Competition and Oligopoly
Problem Set 9 due November 11
Midterm III – November 11
Chapter 10 : Wage Determination
Problem Set 10 due November 18
Chapter 11 : Income Inequality
Problem Set 11 due November 25
Chapter 12 : Public Finance
Problem Set 12 due December 2
Review Week 14 – December 2
Final Exam – Monday, December 9, 7pm – 9pm. No exceptions