E 201: P M

Spring 2014
TR 12:30pm – 1:45pm
128 Bryan Building
INSTRUCTOR: Professor Dora Gicheva
Office: 459 Bryan Building
Phone: 334-4865
E-mail: d_gichev@uncg.edu
Office Hours: Monday 1-3pm and by appointment
TEACHING ASSISTANT : Christopher Parrish
E-mail: clparri3@uncg.edu
Office Hours: Tuesday and Thursday 2-3pm
COURSE DESCRIPTION: 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.
 Textbook: Modern Principles: Microeconomics by Tyler Cowen and Alex Tabarrok.
The bookstore has the loose-leaf edition.
The textbook has a companion website where you can find useful resources
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 on January 20th, and you must have an account in order to turn in the
1. Go to http://saplinglearning.com and click "US Higher Ed" at the top right.
a. If you already have a Sapling Learning account, log in then skip to step 3.
b. If you have a Facebook account, you can use it to quickly create a Sapling Learning
account. Click “Create an Account”, then “Create my account through Facebook”.
You will be prompted to log into Facebook if you aren't already. Choose a
username and password, then click “Link 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 this course in the list: University of North Carolina, Greensboro - ECO 201 Principles of Microeconomics - Spring14 - GICHEVA
4. Select a payment option and follow the remaining instructions.
** eTEXTBOOK: Your course text is available as a low cost online eTextbook. You can
search, highlight, take notes, and each homework question is linked back to the appropriate
section in the eTextbook for immediate instructional help. You may purchase the eTextbook in
step 4 on the homework payment screen.
Once you have registered and enrolled, you can log in at any time to complete or review your
homework assignments. During sign up or throughout the term, if you have any technical
problems or grading issues, send an email to support@saplinglearning.com explaining the
issue. The Sapling Learning support team is almost always faster and better able to resolve
issues than your instructor.
STUDENT STUDY PROGRAM : 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. SSP is designed to offer additional
academic support for students enrolled in historically challenging classes that have high drop,
failure, and/or withdrawal rates.
The purpose of SSP is to offer students the opportunity to form collaborative study groups of
up to 4 of their peers. Students will be matched by the program coordinator with other students
in the same course and section. 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, Laura Huhn, at ssp@uncg.edu .
You will receive a 10 point extra credit toward the first homework assignment for signing up
for SSP.
COURSE OBJECTIVES: At the end of this course you should be able to:
 Appreciate that economics is not just about business and stock markets but it can help you
understand many things you encounter in your everyday life.
 Understand what demand and supply curves are, what shifts each and why.
 Be able to graph and explain how changes that shift supply and demand will affect
equilibrium price and quantity.
 Have a fundamentally sound understanding of how using supply and demand analysis can
help you explain the world around you.
 Understand the notion of elasticities of demand and supply.
 Know that free market prices serve a vital function in providing both information and
incentives to consumers and producers
 Understand how price ceilings and price floors cause a misallocation of resources in the
controlled market and potentially other markets throughout the economy
 Understand that who bears the burden of a tax does not depend on who writes the check,
but instead depends on relative elasticities
 Know that if the market price doesn’t account for external costs or benefits, then the
efficient quantity will not be traded
Understand how, with no central commander, a competitive market organizes production
so that total output is produced at minimum costs and that entry and exit decisions naturally
tend to balance production across industries so that consumer welfare is maximized
Recognize alternative market structures, and the policy requirements or options associated
with each.
STUDENT RESPONSIBILITIES : 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.
GRADES: Grades will be based on the following components:
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 11:55pm 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 Tuesday, February 4, Thursday,
March 6 and Tuesday, April 8. 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 red 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 Friday, May 2, 3:30pm-5:30pm.
Attendance: You are allowed two unexcused absences without penalty. Three unexcused
absences will drop your attendance grade to zero. 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. Excessive unreported absences may result in being
administratively dropped from the course.
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:
98% to 100%
93% to 98%
A90% to 93%
86% to 90%
83% to 86%
B80% to 83%
76% to 80%
73% to 76%
C70% to 73%
66% to 70%
63% to 66%
D60% 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+.
ACADEMIC INTEGRITY POLICY: 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:
FACULTY AND STUDENT GUIDELINES can be found at http://bae.uncg.edu/wpcontent/uploads/2012/08/faculty_student_guidelines.pdf. Please read them carefully.
PLEASE 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 Spring 2014 ECO 201-06 class and agree to all of the
requirements of the course.
Week 1 – January 14
Chapter 1: The Big Ideas
Chapter 2: Supply and Demand
Problem Set 1 due January 20
Chapter 2: Supply and Demand
Week 2 – January 21
Chapter 3: Equilibrium
Problem Set 2 due January 27
Chapter 4: Elasticity
Week 3 – January 28
(including Appendix 1 and 2)
Problem Set 3 due February 3
Week 4 – February 4
Midterm I – February 4
Chapter 5: The Price System
Problem Set 4 due February 10
Chapter 6: Price Ceilings
Week 5 – February 11
Chapter 7: Price Floors, Taxes and Subsidies
Problem Set 5 due February 17
Chapter 9: Externalities
Week 6 – February 18
Problem Set 6 due February 24
Chapter 10: Profits, Prices and Costs Under Competition
Week 7 – February 25
Problem Set 7 due March 5
Chapter 10: Profits, Prices and Costs Under Competition
Week 8 – March 4
Midterm II – March 6
Chapter 11: Monopoly
Week 9 – March 18
Problem Set 8 due March 24
Chapter 12: Price Discrimination
Week 10 – March 25
Problem Set 8 due March 31
Chapter 13: Cartels, Games, and Network Goods
Week 11 – April 1
Problem Set 9 due April 7
Week 12 – April 8
Midterm III – April 8
Chapter 14: Labor Markets
Problem Set 10 due April 16
Chapter 14: Labor Markets
Week 13 – April 15
Chapter 15: Getting Incentives Right
Problem Set 11 due April 21
Chapter 16: Stock Markets and Personal Finance
Week 14 – April 22
Chapter 17: Public Goods
Problem Set 12 due April 28
Final Exam – Friday, May 2, 3:30pm-5:30pm. No exceptions