Introduction to Microeconomics: Eco 304K- Spring 2010
Unique Number: 33505
Instructor: Dr. Helen Schneider
Office: 3.116 BRB
Office Phone: 471-1734
E-mail: h.schneider@eco.utexas.edu
Class Time: MWF 10-11am
Class Location: UTC 3.124
Office Hours: T 1-3 pm BRB 1.102
TA: Touchanun Komonpaisarn
TA Office Hours: TW: 9-10 am BRB 4.132
COURSE SYNOPSIS: This course will introduce you to the basic tools of microeconomic
theory necessary to analyze contemporary economic problems and their proposed solutions. In
particular, the role of the price system in determining production, consumption, and the
distribution of income will be analyzed. We will also develop an awareness of the strengths and
weaknesses of markets and of the government's intervention in the market process.
COURSE MATERIALS:
Required Text: N. Gregory Mankiw. Principles of Microeconomics, 2009, 5th Edition.
Additional Reading: The only way we can make the theory meaningful to 'real life' is to know
something about the real world. Therefore, additional reading includes a good newspaper (e.g.
Wall Street Journal, New York Times), or a relevant newsmagazine (e.g. The Economist).
Website: Course material will be on the university’s Blackboard system. In particular,
homework assignments will not be handed out in class; they will be posted on Blackboard for
students to download. This class will also use the Gradebook feature on Blackboard so that
students can keep track of their scores on assignments and exams.
POLICY ON STUDENTS WITH DISABILITIES
The University of Texas at Austin provides upon receipt appropriate academic adjustments for
qualified students with disabilities. For more information, contact the Office of the Dean of
Students—Services for Students with Disabilities, 471-6259.
SCHOLASTIC DISHONESTY POLICY
Students who violate University rules on scholastic dishonesty are subject to disciplinary
penalties, including the possibility of failure in the course and/or dismissal from the University.
Since such dishonesty harms the individual, all students, and the integrity of the University,
policies on scholastic dishonesty will be strictly enforced.
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COURSE REQUIREMENTS:
Exams. There will be two tests during the term and a comprehensive final examination. There
will be no make-up exams for the midterms. Should dire circumstances (e.g. illness) prevent you
from taking a test, its weight will be added to your final exam.
Problem Sets. Five out of six problem sets will count towards your final grade (the lowest
problem set grade will be dropped). Homework assignments and due dates are indicated on the
syllabus. All assignments may be obtained at the class web page. Collaboration among students
in working out problem sets is encouraged, but you must write up your own homework.
Questions very similar to the problem sets will appear on the exams. It behooves you to make
sure that you understand and can present the solutions to problems on your own in spite of
working on the material with one another. Turning in identical problem sets will result in a zero
for both parties. Problem Sets are due at the beginning of class on their due date. Problem sets
WILL NOT be accepted late. This is an absolute policy. Please do not ask for extensions.
Answer keys will be posted after the due date.
Grading: Total Problem Sets=15%; Midterm Exams=25% each; Final=35%. If you believe that a
problem set or exam was incorrectly graded, you may request a re-grade. Note that the entire
assignment will be re-graded, and may result in a lower grade. You have 2 weeks from the date
that the assignment is handed back in order to submit your request.
READINGS AND COURSE OUTLINE
Date
Wednesday, January 20
Friday, January 22
Monday, January 25
Wednesday, January 27
Friday, January 29
Monday, February 1
Wednesday, February 3
Problem Set I Due
Friday, February 5
Monday, February 8
Wednesday, February 10
Friday, February 12
Monday, February 15
Wednesday, February 17
Problem Set II Due
Readings
Introductions and Syllabus
Mankiw - Chapter 1. Ten Principles of Economics
Mankiw - Chapter 2. (pp. 21-24 & 30-38, we read the rest later)
Mankiw - Chapter 2. Appendix. Algebra Review (pp. 40-48)
Mankiw - Chapter 4. The Market Forces of Supply and Demand
Mankiw - Chapter 5. The Elasticity of Demand (pp. 89-99)
Problem Set I Posted
Recitation: Supply and Demand; Demand Elasticity
Mankiw - Chapter 5. The Elasticity of Supply (pp. 99-109)
Mankiw - Chapter 6. Supply, Demand, and Government Policies
Recitation: Elasticity, Government Policies
Mankiw - Chapter 21. The Theory of Consumer Choice
(pp. 457-464)
Mankiw - Chapter 21. The Theory of Consumer Choice
(pp. 464-480)
Problem Set II Posted
Recitation: The Theory of Consumer Choice
Mankiw - Chapter 7. Consumers, Producers and the Efficiency of
Markets
Mankiw - Chapter 8. Application: The Costs of Taxation
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Friday, February 19
Monday, February 22
Wednesday, February 24
Friday, February 26
Monday, March 1
Wednesday, March 3
Friday, March 5
Monday, March 8
Wednesday, March 10
Problem Set III Due
Friday, March 12
Monday, March 22
Wednesday, March 24
Friday, March 26
Monday, March 29
Wednesday, March 31
Problem Set IV Due
Friday, April 2
Monday, April 5
Wednesday, April 7
Friday, April 9
Monday, April 12
Wednesday, April 14
Friday, April 16
Monday, April 19
Wednesday, April 21
Problem Set V Due
Friday, April 23
Monday, April 26
Wednesday, April 28
Friday, April 30
Monday, May 3
Wednesday, May 5
Problem Set VI Due
Friday, May 7
See Registrar’s website
Exam I Review
Exam I
Mankiw - Chapter 10. Externalities
Recitation: Externalities
Mankiw - Chapter 11. Public Goods and Common Resources
Mankiw - Chapter 12. The Design of the Tax System
Problem Set III Posted
Recitation: Public Goods and the Design of the Tax System
Mankiw - Chapter 13. The Costs of Production
Mankiw - Chapter 13. The Costs of Production
Recitation: The Costs of Production
Spring Break
Mankiw - Chapter 14. Competitive Markets (pp. 289-300)
Mankiw - Chapter 14. Competitive Markets (pp. 300-307)
Problem Set IV Posted
Recitation: Competition
Mankiw - Chapter 15. Monopoly
Mankiw - Chapter 16. Oligopoly
Mankiw - Chapter 17. Monopolistic Competition
Exam II Review
Exam II
Recitation: Monopoly and Monopolistic Competition
Mankiw - Chapter 18. The Markets for the Factors of Production:
Labor (pp. 391-405)
Mankiw - Chapter 18. The Markets for the Factors of Production:
Land & Capital (pp. 405-410)
Problem Set V Posted
Recitation: The Markets for the Factors of Production
Mankiw - Chapter 19. Earnings and Discrimination
Mankiw - Chapter 20. Income Inequality and Poverty
Recitation: Discrimination in the Labor Markets and Poverty
Mankiw - Chapter 2. Production Possibilities Frontier (pp. 25-28)
Mankiw - Chapter 3. Interdependence and Gains from Trade
Problem Set VI Posted
Mankiw - Chapter 3. International Trade continues
Recitation: PPF and Gains from Trade
Mankiw - Chapter 22. Frontiers of Microeconomics
Final Exam Review
FINAL EXAM
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