EC 200
Spring 2015
Principles of Microeconomics
Course Syllabus
PRINCIPLES OF MICROECONOMICS
EC 200 B
Course Syllabus
SPRING 2015
Instructor:
Dmitri Nizovtsev
Office: 310N in Henderson Center
Phone: (785) 670-1599
E-mail: dmitri.nizovtsev@washburn.edu
Meeting Time:
MWF
Office Hours:
M 1:30 pm–3 pm, T 3 pm–5 pm, F noon–1 pm + Open door policy
Required Materials:
Hubbard and O’Brien, Microeconomics, 3rd ed.
A copy of the Course Notes
Prerequisites:
MA116 or higher, and 24 hours, or consent of instructor
9 am – 9:50 am
HC 107
Course Description:
The fundamentals of price theory. A study of the interaction of markets and decisions made by consumers and firms.
Market structure, allocation of resources, and efficiency issues are addressed.
Course Objectives:
Upon completion of this course, students should be able to:
1. Use economic thinking to analyze choices in the presence of trade-offs.
2. Apply the supply-and-demand framework and its extensions to the analysis of markets.
3. Explain the motivations and impact of government involvement in the marketplace.
4. Model the behavior of a profit maximizing firm in different market structures.
5. Perform quantitative analysis and demonstrate scientific reasoning in the context of economic models.
Relevance For General Education And Business:
As a course on how the economy works and on economic thinking, the Principles of Microeconomics course
provides a foundation for informed citizenship and for informed practice of a variety of professions. For business
professionals, the study of economics provides an understanding of how markets work and of the economic and
regulatory environment of business. For business majors, the study of economic models and theory provides the
conceptual and technical foundation for course work in finance, marketing, and accounting, as well as in economics.
Within the language of the Washburn University General Education Statement, this course falls into the social
sciences general education group. It provides students with opportunities to acquire and further develop their
quantitative reasoning and scientific literacy skills.
The aforementioned skill is crucial for the overall success in the course. It will be developed and improved
through lectures, classroom discussion, examples and exercises used in class, practice problems, homework
assignments, and the feedback provided by the instructor. The attainment of subject knowledge and general
education skills will be assessed primarily by questions on the comprehensive final examination.
Expected Workload:
This course is worth three credit hours. For every credit hour awarded for a course, the student is typically expected
to complete approximately one hour of classroom instruction, online interaction with course material, or direct
faculty instruction and a minimum of two additional hours of student work each week for approximately 15 weeks
for one semester or the equivalent amount of work over a different amount of time.
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EC 200
Spring 2015
Principles of Microeconomics
Course Syllabus
Grading:
Grades are distributed on a curve based on students’ weighted scores at the end of the semester. The cutoffs for A,
B, C, and D I usually use on the curved scale are 90, 80, 70, and 60, respectively. This, however, is just a guideline.
I reserve the right to deviate from it slightly, in which case you will be informed in advance.
The components of the overall score are as follows:
Practice quizzes: 10% of the overall score.
HW assignments: 20% of the overall score.
Two midterm tests: 20% of the overall score each, for the total of 40%.
Final test: 30% of the overall score.
The grade appeal procedure can be found on pp. 68-70 of the 2014-2015 Washburn University Catalog.
Quizzes:
Once in a while, in-class pop quizzes will be given. Quizzes will be graded. Each quiz is worth one point on the final
100-pt grade scale. If over the semester there happen to be more than 10 quizzes, then at the end of the semester
only 10 best scores will count.
Homework:
Homework will be assigned on a regular basis. Each assignment is due at the beginning of the next class. Late
submission of homework will result in substantial point deductions. Homework assignments will be graded and
solutions will be discussed in class, handed out, or posted on the class web page.
Examinations:
There will be two in-class midterm tests, tentatively scheduled for Feb 27th and April 13th, respectively. Test 1 will
cover all the topics from the first six weeks. Test 2 will be based primarily on topics covered since the previous test.
However, it will most likely include some questions that require knowledge of the earlier material as well. The final
exam is going to be comprehensive, with a slight bias towards the most recent material. The exact time and date of
the final exam can be found at http://www.washburn.edu/academics/course-schedule/files/spring/final-examschedule.pdf
The majority of the test questions will be in the form of problems and “short-answer” questions. A limited number
of multiple-choice questions may appear on some tests as well. Answering test questions may involve plotting
graphs and performing calculations. Calculators for the tests are provided by the university as needed.
Attendance:
All students are expected to attend all the class meetings according to the university policy. While I am not going to
take attendance, I reserve the right to issue warnings and take action. Pop quizzes may also be viewed as a spotcheck tool. Naturally, every student is personally responsible for learning the material covered during the class
period that was missed.
Class Participation:
Everyone is strongly encouraged to ask questions and make comments during the class. I hope you will soon
discover it is in your best interest to do so as it helps you understand the material covered.
Communication and Feedback:
Talking to me before or after class or coming to see me during my office hours (listed above) will probably work
best. You can also make an appointment to come see me at another time, or just drop by whenever my office door is
open.
I am always very eager to hear any comments from you about the class, especially if you would like to suggest
changes to the way the class is taught. If you are uncomfortable discussing any of those issues in person, you can do
it anonymously at www.washburn.edu/sobu/dnizovtsev/feedback.html
Part of the course-related communications will be conducted via the Desire2Learn portal. Some material may also
be available at www.washburn.edu/sobu/dnizovtsev/Econ200.html.
Your Washburn University e-mail address will be the official address used by the University for relaying
important messages regarding academic and financial information and the University will consider this your official
notification for important information. It may also be used by your instructors to provide specific course
information. Students who prefer to use an alternate e-mail address to receive official University notices should
make certain they have implemented the mail forward option in Office 365 using the instructions available at
http://www.washburn.edu/a-z-index/its/files/training/office365/ForwardEmailOutlookWeb.pdf
It is the student’s responsibility to ensure that the official Washburn e-mail box does not exceed the message
quota resulting in the inability of e-mail messages to be accepted into the mailbox.
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EC 200
Spring 2015
Principles of Microeconomics
Course Syllabus
Make-up Policy:
If you miss a quiz, you cannot make it up. The only exception is when you travel on university related business
(road games, competitions, etc.). Late homework is accepted, but with substantial point deductions.
Normally, no make-up tests are given. The most I can do is discuss a possibility of redistributing the weights of
your final score in the case when you have to miss a test due to significant unforeseen circumstances. Even that is
possible only if I have been informed about your absence in a timely manner (before the test, preferably, or within
hours after the test). Any official documentation that may serve as an explanation for missing a test is appreciated.
Withdrawal Policy:
During fall and spring semesters, students may go online and withdraw from full semester courses through the
second week of class with no recorded grade. From the third through the eleventh week a “W” is recorded for any
dropped course. After the eleventh week, there are NO withdrawals, and a grade will be assigned for the course.
These deadlines will be different for short-term, out-of-sequence, or summer courses. To view the deadline dates
for your courses visit the “Last Day” Deadlines web page at: https://www2-prod.washburn.edu/selfservice/coursedates.php Depending on the timing of the request to withdraw from a course, students may be
responsible for repaying all or a portion of their financial aid. Students who do not attend their courses and fail to
officially withdraw themselves will receive a grade of “F” and may also be required to repay all or a portion of their
financial aid based on their non-attendance.
For further information, contact the Financial Aid Office at 785-670-1151 or e-mail financialaid@washburn.edu.
An instructor, after due notice to the student, may request withdrawal of the student from a course because of
nonattendance through the same date as the last day a student may withdraw from a course. This would NOT
absolve the student of financial responsibility for tuition/fees for the course in question. The inclusion of this
information in the course syllabus is considered due notice.
Success Week:
Success Week for undergraduate students is designated as the five week days preceding the first day of scheduled
final examinations each Fall and Spring semester. It is intended to provide students ample opportunity to prepare for
final examinations. For guidelines related to workload and assignments during Success Week, see
www.washburn.edu/sobu/dnizovtsev/successweek.pdf
Academic Misconduct Policy:
All students are expected to conduct themselves appropriately and ethically in their academic work. Inappropriate
and unethical behavior includes (but is not limited to) giving or receiving unauthorized aid on examinations or in the
preparation of papers or other assignments, or knowingly misrepresenting the source of academic work. Washburn
University’s Academic Impropriety Policy describes academically unethical behavior in greater detail and explains
the actions that may be taken when such behavior occurs. For guidelines regarding protection of copyright, consult
http://www.washburn.edu/copyright. For a complete copy of the Academic Impropriety Policy, contact the office of
the Vice President for Academic Affairs, Bradbury Thompson Alumni Center Suite 200, or go on-line to:
http://www.washburn.edu/academic-impropriety.
Disability Services:
The Student Services Office (SSO) is responsible for assisting in arranging accommodations and for identifying
resources on campus for persons with disabilities. Qualified students with disabilities must register with the office
to be eligible for services. The office MUST have appropriate documentation on file in order to provide services.
Accommodations may include in-class note takers, test readers and/or scribes, adaptive computer technology,
brailled materials. Requests for accommodations should be submitted at least two months before services should
begin; however, if you need an accommodation this semester, please contact the SSO immediately.
Location: Student Services, Mosiman Room in the Memorial Student Union
Web: http://www.washburn.edu/student-services; Phone: 785-670-1629; E-Mail: student-services@washburn.edu
Students may voluntarily identify themselves to the instructor for a referral to the Student Services Office.
Notice of Non-Discrimination/Safe Educational Environment:
Washburn University prohibits discrimination on the basis of race, color, sex, religion, age, national origin, ancestry,
disability, marital or parental status, sexual orientation/gender identity, genetic information, or other non-merit
reasons, in University programs and activities, admissions, educational programs or activities, and employment, as
required by applicable laws and regulations. Inquiries regarding the non-discrimination policies should be directed
to Dr. Pamela Foster, Equal Opportunity Director, 785-670-1509, eodirector@washburn.edu
Student Services Center:
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EC 200
Spring 2015
Principles of Microeconomics
Course Syllabus
The Student Service Center in Morgan Hall, room 152 incorporates the front office services of the Business Office,
Financial Aid and the Registrar in one convenient location. It is the place where students can take care of a range of
matters related to admissions, financial aid, student records/registration, and student accounts.
Phone: 785-670-2162. E-mail: SSC@washburn.edu
Student Health Services/WU Counseling Services:
Student Health Services (SHS) provides support for students experiencing challenges with learning and adapting to
university life. SHS offers urgent care for illness and injury; sports, school, and travel abroad physicals (including
TB testing); well woman exams; STD and pregnancy testing; immunizations/vaccinations; and care of chronic
illness. More information can be found at http://www.washburn.edu/health
Licensed mental health professionals are available in the Counseling Services’ office for personal, academic,
and mental health support. More information can be found at http://www.washburn.edu/counseling
Center for Student Success:
As a Washburn student, you may experience difficulty with issues such as studying, personal problems, time
management, or choice of major, classes, or employment. The Center for Student Success is available to help
students either directly through academic advising, mentoring, testing and developing learning strategies or by
identifying the appropriate University resource. To discuss an issue with someone confidentially and free of charge,
contact the center at 785-670-1942, advising@washburn.edu, or visit Mabee Library, Room 201.
Topics covered and readings assigned
The following list is tentative and subject to change. More accurate day-by-day reading assignments will be
regularly posted on the course Web page. It is in your best interest to make yourself familiar with the material prior
to coming to class.
All the page numbers refer to the required text, Microeconomics by Hubbard and O’Brien (3rd ed).
Topic
Course Requirements and Syllabus.
Economics as a Science.
Opportunity Cost. Production Possibility Frontier.
Utility and Consumer Choice.
Demand. Supply. Market Equilibrium.
Price Controls. Welfare Analysis.
Externalities and Public Goods.
Elasticity and Its Applications.
Production. Short-Run and Long-Run Decisions. Total,
Average and Marginal Product.
Short-Run and Long-Run Costs. Returns to Scale.
Perfect Competition.
Techniques of Profit Maximization.
Accounting Profit and Economic Profit.
Monopoly.
Pricing strategies.
Monopolistic Competition
Oligopoly.
Game Theory and Its Application to Markets.
Market Concentration Measures.
Corresponding pages in the textbook
Ch.1, pp.2-19, Ch.9, pp.296-299
Ch.1 Appendix, pp.24-34
Ch.2, pp.36-44
Ch.9, pp.280-282, 288-291
Ch.4, pp.98-101
Ch.3, pp.64-87
Ch.4, pp.96-112, 118-119
Ch.5
Ch.6, pp.166-193
Ch.4, pp.112-117
Ch.10, pp.327-335
Ch.10, pp.335-345
Ch.11, p.367-393
Ch.14, pp.461-485
Ch.15, pp.493-511
Ch.12, pp.401-421
Ch.13, pp.432-443
Ch.14, pp.479-480
Washburn University enriches the lives of students by providing opportunities for them to
develop and to realize their intellectual, academic, and professional potential, leading to
becoming productive and responsible citizens. We are committed to excellence in
teaching, scholarly work, quality academic and professional programs, and high levels of
faculty-student interaction. We develop and engage in relationships to enhance
educational experiences and our community.
Washburn University Board of Regents, 2010
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