ECON 202 SYLLABUS, FALL 2014 INSTRUCTOR Aanston Frazier Email: aanston.frazier@colostate.edu Office: Clark B205 Office Hours: MW 10:15-­‐11:45 and by appointment TAs: Section 001 Tyler Saxon Email: tymatsaxon@gmail.com Office: Clark C309C Office Hours: T 12-­‐2, R 1-­‐2 Sophie McKee Email: sophie.mckee@colostate.edu Office: Clark C309B Office Hours: M 10-­‐10:50, TR 11:15-­‐12:15 Section 003: Bryanna Dixon Email: bryanna.dixon@colostate.edu Office: Clark C301 Office Hours: T 11-­‐12:15, R 12-­‐1:30 Melanie Long Email: melanie.long@colostate.edu Office: Clark C301A Office Hours: T 12-­‐1, R10-­‐11, F 1-­‐2:30 Term Start: August 25, 2014 Term End: December 19, 2014 Class website: http://ramct.colostate.edu • Login using your Colorado State University eID and password • Section 001 (9AM course) click on 2014FA-­‐ECON-­‐202-­‐Crosslisted-­‐00280: Principles of Microeconomics (GT-­‐SS1)-­‐001-­‐101-­‐301 • Section 003 (12PM course) click on 2014FA-­‐ECON-­‐202-­‐Crosslisted-­‐00279: Principles of Microeconomics (GT-­‐SS1)-­‐003-­‐303 C OURSE D ESCRIPTION Page 1 of 9 ECON 202: Principles of Microeconomics This course is offered through the Department of Economics at Colorado State University. Principles of Microeconomics is an introduction to decision making by households, firms, and government, and the resulting allocation of resources through markets. This course is designed to introduce you to the subject of economics as it pertains to the behavior of consumers, firms, industries and society, and to their desires to get the most from a limited availability of resources. COURSE PREREQUISITES MATH 117 (College Algebra in Context I) or MATH 118 (College Algebra in Context II) or MATH 141 (Calculus in Management Sciences) or MATH 155 (Calculus for Biological Scientists I) or MATH 160 (Calculus for Physical Scientists I) COURSE GOALS By the end of the course, you should be able to: •
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Identify the basic issues of microeconomics, and state key economic facts and examples from around the world Explain the basic methods of microeconomics, including basic microeconomic principles and interpret how they are used to build theories and models of economic behavior Apply these principles, theories and models to critically analyze and explain economic situations encountered in the real world; and Evaluate how economics can help you as a local and global citizen contribute to the making of appropriate public policy. REQUIRED COURSE MATERIALS 1. Your text is Microeconomics Third Edition in Modules by Paul Krugman and Robin Wells ISBN 13: 978-­‐1-­‐4641-­‐3904-­‐8. You can purchase this book new or used from the CSU Bookstore at www.bookstore.colostate.edu. 2. LaunchPad is an online homework and exam website external to CSU. It is a required tool to where you complete quizzes and exams. If you have purchased access with your text you can log on to LaunchPad using the information below: Go to http://www.macmillanhighered.com/launchpad/krugmanwellsmodulesmicro3/671563 1. Bookmark the page to make it easy to return to. 2. If you have an access code, click the button "Enter Your Student Access Code" in the upper right corner and follow the instructions. 3. If you don't have an access code, either click the "Purchase Access" or "Temporary Access" button. 4. If you have any problems registering, purchasing, or logging in, please contact Technical Support. You can reach a representative 24 hours a day, 7 days a week: 2 ECON 202: Principles of Microeconomics • through our online form • by chat Or from 9 a.m. to 3 a.m. EST, 7 days a week: •
by phone at (800) 936-­‐6899 SUPPLEMENTAL READINGS Supplemental readings and other materials will be provided in RamCT system, via the CSU Library electronic reserve, or by links to websites. COURSE PRESENTATION AND PROCEDURES It is your responsibility to keep up on the chapter readings assigned. You are expected to read the chapter(s) assigned on your own before the class period they will be discussed. This class meets twice a week for lecture, and exam material will be largely drawn from lectures. Attendance is therefore highly recommended, and participation is strongly encouraged. Recitations: Once a week you will be required to attend a recitation section. Recitations will be used to cover new material, practice current material, and review past material. Therefore, it is in your best interest to attend recitation and get to know your Teaching Assistant, as well as utilizing their office hours as needed. COURSE ASSIGNMENTS, GRADES, AND POLICIES There will be three (4) non-­‐comprehensive exams, three (3) writing assignments, and twelve (12) quizzes. The format of the exams will be 30-­‐40 multiple choice questions (80-­‐90% of exam) and one (1) essay question (10%-­‐20% of exam), with questions drawn from lecture, recitation, and reading assignments. These are each worth approximately 16% of your final grade for a total of 65% of your final grade. •
There are no early or make up exams given with exceptions for University approved activities or documented illness or family emergencies. A student arriving late to an exam session will be allowed to take the exam in the remaining time, so long as the student does not arrive after other examinees have left. In case of documented illness, family emergency or university-­‐
excused absence, you may reschedule an exam within 5 days (+/–) of the exam date. There will be three (3) writing assignments. You will be graded on content, grammar and spelling, completeness, etc. This is worth approximately 25% of your final grade. 3 ECON 202: Principles of Microeconomics • GT pathways writing requirement: At least 25 percent of the course grade must be based on written work that satisfies the following: At least one writing assignment must be an out-­‐of-­‐class piece of written work. In-­‐class written work, such as on exams, must be in the form of essays. Expectations of written work include students demonstrating: •
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The ability to convey a theme or argument clearly and coherently. The ability to analyze critically and to synthesize the work of others. The ability to acquire and apply information from appropriate sources, and reference sources appropriately. Competence in standard written English. There will be 14 weekly quizzes. You will complete the weekly quiz assignments using LaunchPad, an online study resource that came with your book purchase. These assignments are worth approximately 10% of your final grade. This is a tool to assist your understanding and prepare you for exams. Quizzes will always be due at 11:55 pm the Sunday following the week that it was released, and they are always submitted online. Only the highest 12 (out of 14) assignments will be counted towards your grade. There are no late quizzes accepted. Once you log on to your quiz, you have 30 minutes to complete it. Time continues to count down even if you have logged out. You have 2 attempts at each quiz and only the highest grade is counted. Challenging grades: Any student who wants to challenge the validity of a test or quiz answer, and who is not satisfied with the instructor's preliminary explanation, may submit in writing the reason(s) a disallowed answer might be considered correct within one week of receiving that exam or quiz back. Please note that I do encourage you to challenge a grade on any assignment if you feel there is an error or if you are ensure of why you lost points. Challenging a grade can be a good way to help understand the material even if the grade was not in error. EVALUATION AND GRADING Course grades will be determined by the completion of assignments, exams, and discussions, as shown below: Points per GRADE GRADE Assignment* Frequency Assignment POINTS PERCENTAGE Weekly Quiz (5) * (12) = 60 ~10% Writing Assignments (50) * (3) = 150 ~25% Exams (100) * (4) = 400 ~65% TOTAL = 610 =100% *Keep a copy of all work created for the course. 4 ECON 202: Principles of Microeconomics COURSE GRADING CRITERIA Grade Percentage Grade Equivalent Points Indicates A 90-­‐100 549-­‐610 Excellent B 80-­‐89 488-­‐548 Above Average C 70-­‐79 427-­‐487 Average D 60-­‐69 366-­‐426 Below Average F 0-­‐59 Less than 366 Failure There is no +/– grading in this class. EXPECTATIONS OF INSTRUCTOR As a student enrolled in this course, one of your responsibilities is to submit course work by the due dates listed in the Schedule. With that said, I take my role as your instructor very seriously, and, in fact, I care about how well you do in this course and that you have a satisfying, rewarding experience. To that end, it is my commitment to you to respond individually to the work you submit in this class and to return your work in a timely manner. If, however, due to unforeseeable circumstances, the grading of your work takes longer than the times I have listed here, I will keep you informed of my progress and make every effort to return your work with feedback as soon as I can. Communication – I want you to succeed. Do not hesitate to contact me about anything. Yes, anything. •
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E-­‐mail: aanston.frazier@colostate.edu All e-­‐mail sent to me should contain the following: Course Name and Number, Your Name, Short Description of your question. I will respond to email within 12-­‐18 hours, but usually within 2-­‐4 hours. I always respond to email. If you have not had a response within 18 hours I did not receive the email. Announcements: Please check the “announcements” section on the course dashboard on RamCT often. Any changes to the syllabus or class structure, as well as any reminders will be mentioned in class as well as send out through the Announcements function on the course website In person: Clark B205, MW 10:15-­‐11:45 and by appointment Each week students are expected to:
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Attend class (lecture and recitation) Read the assigned textbook chapters and other readings Review class notes Study for and complete quiz Study for exams and work on writing assignments TOTAL = Contact hours per week
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5 ECON 202: Principles of Microeconomics Course Withdrawal Policy: Any student who wishes to withdraw from the course must submit a request directly to Division of Continuing Education. For complete information, please visit their website at http://www.learn.colostate.edu/help/creditstudents/registration/drop-­‐policy.dot POLICY ON DUE DATES Each week you will complete a series of critical thinking questions that reflect material from the various delivery formats and required readings. It is your responsibility to turn in each assignment on the required date. All assignments turned in after the scheduled due date will be lowered to the next letter grade for each day late. The exceptions that MAY BE CONSIDERED is due to sickness, university excused function, or circumstances beyond the students’ control. The instructor reserves the sole right to determine what grounds constitutes a reasonable excuse for missing or submitting a late work assignment, the right to require the student to submit proper verification of such excuse. FREE TUTORING Free tutoring is available for this course through the Arts & Sciences Tutoring Program. The program is located in the Russell George Great Hall in The Institute for Learning and Teaching (TILT), and runs 5 p.m. to 10 p.m., on select Sunday-­‐Thursday evenings during the academic year. No appointment is necessary and all students are welcome. For more information and tutoring schedule, please visit: http://tilt.colostate.edu/learning/tutoring/artSciences.cfm ACADEMIC INTEGRITY POLICY Any student or student organization found to have committed or to have attempted to commit misconduct is subject to disciplinary sanction. For example, academic dishonesty includes but is not limited to: cheating, plagiarism, unauthorized possession or disposition of academic materials, falsification, or facilitation of acts of dishonesty. Specific procedures for cases of academic dishonesty are also described in the Academic Integrity Policy in the General Catalog, the Graduate Student Bulletin, the Faculty Manual, or the Honor Code of the Professional Veterinary School as applicable. For more information, please use the link provided on RamCT. Any violation of academic integrity will result in a zero for that assignment and a report to the Office of Conflict Resolution and Student Conduct Services. More than one violation will result in a grade of "F" for the course as a whole. If you have any questions about what is permissible, please ask. CSU HONOR PLEDGE Academic integrity lies at the core of our common goal: to create an intellectually honest and rigorous community. Because academic integrity, and the personal and social integrity of which academic integrity is an integral part, is so central to our mission as students, teachers, scholars, and citizens, I will 6 ECON 202: Principles of Microeconomics ask that you affirm the CSU Honor Pledge as part of completing your work in this course. While you will not be required to affirm the honor pledge, you are expected to affirm the following statement for each assignment: "I have not given, received, or used any unauthorized assistance." Further information about Academic Integrity is available at CSU’s Practicing Academic Integrity. RESOURCES FOR DISABLED STUDENTS Students with disabilities may be eligible for accommodations in accordance with Section 504 of the Rehabilitation Act of 1973 and the Americans with Disabilities Act. It is the student’s responsibility to disclose any learning disabilities. Please contact the instructor if a special accommodation is required. To request accommodations, students should contact Resources for Disabled Students at (970) 491-­‐6385 or go to http://rds.colostate.edu. Documentation of disability is required and the RDS office will assist in this process. TECHNICAL HELP RamCT technical support • http://help.ramct.colostate.edu/student-­‐resources.aspx ADDITIONAL SUPPORT SERVICES A variety of instructional support services, such as writing center, guidance on personal or educational issues, tutoring questions and library resources are available to the students. For more information about their services, visit their websites linked under “additional resources” on RamCT. 7 ECON 202: Principles of Microeconomics Tentative Class Schedule Week Dates 1 Monday (8/25) Wednesday (8/27) Recitation 2 Monday (9/1) Wednesday (9/3) Recitation -­‐ 6 -­‐ Topic Study of Econ Production Possibility Supply and demand: Intro and D (start and then wrap next week) Recitation: Comparative advantage and trade (section 4.1), Models and the Circular Flow (Module 2) NO CLASS Monday 9/1 – University Holiday Supply and demand: S and equilibrium Recitation: Supply and demand applications 3 Monday (9/8) Wednesday (9/10) Recitation 7 11 12 -­‐ Supply and demand: Changes in equilibrium Consumer and producer surplus Efficiency and Markets Recitation: Supply and demand applications 4 Monday (9/15) Wednesday (9/17) Recitation -­‐ 13 14 -­‐ EXAM 1 Price controls (Ceilings and Floors) Quantity controls (Quotas) Recitation: Supply and demand applications 5 Monday (9/22) Wednesday (9/24) Recitation 8 9 10 -­‐ Elasticity (excluding section sub and income effects) Interpreting price elasticity of demand Other elasticities (excluding price elasticity of supply) Recitation: Elasticity applications, Return Exam 1 6 Monday (9/29) Wednesday (10/1) Recitation 18 21 -­‐ Making Decisions The production function Recitation: profit and production function applications Week 4 quiz due Sunday 9/21 at 11:55pm Writing Assignment 1 Due 9/24 Week 5 quiz due Sunday 9/28 at 11:55pm 7 Monday (10/6) Wednesday (10/8) Recitation 22 23 -­‐ Firm costs Long run costs and economies of scale Recitation: cost applications Week 6 quiz due Sunday 10/5 at 11:55pm 8 Monday (10/13) Wednesday (10/15) Recitation Monday (10/20) Wednesday (10/22) Recitation -­‐ 24 25 EXAM 2 Introduction to market structure Introduction to perfect competition Recitation: Applications Graphing perfect competition Long run outcomes in perfect competition Monopoly in Practice Recitation: Applications, return exam 2 EXAM 2 Week 7 quiz due Sunday 10/12 at 11:55pm Week 8 quiz due Sunday 10/19 at 11:55pm 9 Modules 1 3 5 2 26 27 28 -­‐ Graded Assessment Week 1 quiz due Sunday 8/31 at 11:55pm **modules 1 and 3 *** Week 2 quiz due Sunday 9/7 at 11:55pm **modules 2, 5 and 6 *** EXAM 1 Week 3 quiz due Sunday 9/14 at 11:55pm 8 ECON 202: Principles of Microeconomics 10 Monday (10/27) 30 Price discrimination Wednesday (10/29) 31 Oligopoly 32 Game theory Recitation -­‐ Recitation: Applications 11 12 13 14 15 Monday (11/3) Wednesday (11/5) Recitation Monday (11/10) Wednesday (11/12) Recitation 34 35 -­‐ -­‐ 36 37 -­‐ Monopolistic competition Product differentiation and advertising Recitation: Applications EXAM 3 Externalities Externalities and public policy Recitation: Externalities and public policy applications Monday (11/17) Wednesday (11/19) Recitation (11/24-­‐28) 38 29 33 -­‐ Public goods and Common Resources Monopoly and public policy Oligopoly in practice Recitation: Applications, return exam 3 Fall break – NO CLASS (11/24-­‐28) Monday (12/1) Wednesday (12/3) Recitation Monday (12/8) Wednesday (12/10) Recitation Open topics, see RamCT Open topics, see RamCT Finals Week Exam 4 Section 001 (9AM class) 12/15 9:40-­‐11:40 am Section 003 (12PM class) 12/19 7:30-­‐9:30 am Week 9 quiz due Sunday 10/26 at 11:55pm Week 10 quiz due Sunday 11/2 at 11:55pm EXAM 3 Week 11 quiz due Sunday 11/9 at 11:55pm Writing Assignment 2 Due 11/12 Week 12 quiz due Sunday 11/16 at 11:55pm Week 13 quiz due Sunday 11/30 at 11:55pm Week 14 quiz due Sunday 12/7 at 11:55pm Writing Assignment 3 Due 12/10 Exam 4 9