Department of Economics
ECON 101 Introduction to Microeconomics, Winter 2023
Instructor:
Ashutosh Sarker
Class Schedule
Tuesday and Thursday 9:30AM - 10:50AM, Henry Marshall Tory Building
T LB-001(T LB = Tory Lecture-theatres Basement; in the Annex or
Turtle)
Tuesday 11:30AM - 2:30PM or by appointment
9-05 Henry Marshall Tory Building
ashutosh.sarker@ualberta.ca
https://apps.ualberta.ca/directory/person/asarker1
Office Hours
Office
Email
Homepage
Course Description
Students with credit in ECON 204 cannot enrol in this course.
Students in this course will learn key concepts in microeconomics, an area that is at the core
of the economics discipline. Students will start with concepts such as scarcity, opportunity
costs, tradeoffs, marginal costs, and gains from trade. Students will understand problems of
resource allocation and decision-making and recognize why firms and individuals make
certain decisions, and why there are ways to improve welfare in some cases. Students can
examine how a market economy operates, how society's scarce resources are best allocated,
and how various decision makers in the economy (individuals and firms) coordinate their
consumption and production decisions. Students examine various causes of market failure as
well as public policies that can correct the market failures, while learning the laws of supply
and demand, production and cost theories, and market structure models.
Course Objectives
Students who successfully complete this course will develop the knowledge to:
1. Describe how to integrate resource scarcity, choice, and opportunity costs into the
economic way of thinking;
2. Analyze the efficiency of markets and describe the factors that might affect it;
3. Identify and differentiate between different types of market failures and explain why
governments may need to intervene;
4. Compare and analyze the different types of markets and their efficiency;
5. Explain why government policies might fail and acknowledge government failure;
6. Analyze and evaluate public policies related to current microeconomic issues based
on basic economic theory and principles;
7. Communicate their knowledge and understanding of economic issues using written,
verbal, and visual expression; and
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Week
Text
Topic
W 1 (Jan 05)
W 2 (Jan 10, 12)
Chapter 1
Chapter 2
Ten Principles of Economics
Thinking Like an Economist
W 3 (Jan 17, 19)
W 4 (Jan 24, 26)
W 5 (Jan 31, Feb 02)
W 6 (Feb 07, 09)
Mid-Term I
Chapter 3
Chapter 4
Chapter 5
Chapter 6
Chapter 7
W 7 (Feb 14, 16)
Chapter 8
Chapter 9
Chapter 10
Chapter 11
Chapter 13
Interdependence and the Gains from Trade
Market Forces of Supply and Demand
Elasticity and Its Applications
Supply, Demand and Government Policies
Consumers, Producers, and the Efficiency of
Markets
Application: The Costs of Taxation
Applications: International Trade
Externalities
Public Goods and Common Resources
Costs of Production
W 10 (Mar 14, 16)
Mid-Term II
W 11 (Mar 21, 23)
W 12 (Mar 28, 30)
Chapter 14
Firms in Competitive Markets
Chapter 15
Chapter 16
Monopoly
Monopolistic Competition
W 13 (Apr 04, 06)
Chapter 17
Oligopoly
W 14 (Apr 11)
Chapter 18
The Markets for the Factors of Production
W 8 (Feb 28, Mar 02)
W 9 (Mar 07, 09)
Course Outline and Readings
The instructor may slightly change and reorganize the readings as the semester progresses.
Texts and Readings
Mankiw, Gregory, Ronald Kneebone, and Kenneth McKenzie, Principles of
Microeconomics, (8th Edition); Copyright 2020 Published September 2019
The ISBNs for the bookstore are
•
•
Print textbook 9780176872823
eTextbook 9781774747032
The print textbook should be available for purchase from the University of Alberta bookstore.
The following link provides instructions on how to purchase the textbook's electronic
version: https://www.cengage.com/coursepages/University_ECON101_W23
The instructor will use the 8th edition. Students who choose to have an old edition may need
to compare it with the new to find out the differences.
Purchasing MindTap is optional (MindTap 9780176887971). With MindTap, students can
engage in hands-on training, watch concept videos, take on critical thinking challenges, and
follow news feeds on the latest technology.
The e-Class platform will provide sample evaluative material.
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Evaluation
Pre-lecture Quiz:
6% (Every week throughout the semester; online on eClass)
Mid-Term I (W6): 14% (closed book at the Learning Assessment Centre)
Mid-Term II (W10): 20% (closed book at the Learning Assessment Centre)
Final exam:
60% (In-person, closed book; TBA)
Students are required to bring student IDs to all in-person tests and exams.
Pre-lecture Online Quiz (Weekly)
Pre-class internet-based tests will count for up to 6% of your final grade.
In the semester’s W3 to W13, there will be pre-lecture internet-based multiple-choice
questions (MCQs) available in eClass. Each weekly quiz will have a closing time of midnight
on Monday (11:59 PM Edmonton time) prior to the lecture(s) the following week. This quiz
will test your understanding of pre-reading and other assigned materials that need to be
studied before each week’s lecture. Each quiz in W3-W13 will be worth 0.5 marks towards
your final grade. To receive 0.5 marks, you must score at least 50% on the quiz. For example,
if a weekly quiz comprises 10 MCQs, you will need to correctly answer at least 5 MCQs to
obtain 0.5 marks.
Let us further clarify with an example. Before you participate in Week 4’s lectures (i.e., on
Tuesday, Jan 24 and Thursday, Jan 26) that draw on Chapter 4 Market Forces of Supply and
Demand), you will need to participate in Quiz-1 that will end mid-night 11:59PM on
Monday, Jan 23. Quiz 1’s MCQs questions will basically (if not entirely) draw on Jan 24’s
and Jan 26’s lectures linked to Chapter 4. Understanding lecture slides and Chapter 4 is the
key to doing well on the quiz. There are no quizzes on W1, W2, and W14.
We expect to allow approximately five days of preparation time for each weekly quiz. The
student who attempts to participate in the quiz just a few hours before the closing timeline
passes may have difficulty meeting it. We will not accept any reasons such as experiencing
slow internet, becoming sick suddenly, setting eClass in a different time zone, and having
scheduling conflicts. Getting the quiz done by Sunday, if possible, can help avoid any
unexpected last-minute issues. There will be no makeup quiz. If a student missing a quiz
cannot have the time extended because an extension changes the entire online setting for a
quiz, affecting all other students. Furthermore, once the quiz is over on Monday, the answers
will become immediately available.
There is a wide array of merits to participating in the quiz every week. Besides possibly
receiving 6%, your participation will help you follow the forthcoming lecture and prepare
you well for the midterm tests as well.
Mid-Terms
The midterms will evaluate students’ comprehension of the readings and class lectures.
Students who are unable to write the first midterm for an approved reason will have the
weight assigned to the second midterm. Students who miss the second midterm for an
approved reason will have the weight assigned to the final. Missing both midterms results
in students being unable to write the final.
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Mid-Term I: Covers all material from the text, lectures, and slide presentations from W1 to
W5. This is an in-person and closed book test, comprising 40 MCQs. Students will have 60
minutes to complete the test. Mid-Term I will take place at the Learning Assessment Centre
in Week 6.
Mid-Term II: Covers all material from the text, lectures, and slide presentations from W6 to
W9. This is an in-person and closed book test, comprising 40 MCQs. Students will have 60
minutes to complete the test. Mid-Term II will take place at the Learning Assessment Centre
in Week 10.
Final Exam
The final exam will be 2 hours in length. The exam is cumulative and covers all course
material covered during the semester (i.e., from W1 to W14). This is an in-person and closed
book exam. We cannot arrange an online final exam. Students are advised to confirm the
final exam date when the university finalizes exam dates. Students who miss the final exam
must receive faculty permission to defer it.
Deferred Exam
Usually held two weeks after the final exam. Students who miss the final exam must receive
faculty permission to defer the exam. Academic Regulations state that a deferred exam will
not be approved if a student “(i) has not been in regular attendance where attendance and/or
participation are required, and/or, (ii) excluding the final exam, has completed less than half
of the assigned work.”
Final Grades Calculation
Throughout the semester, the students will obtain raw marks for each evaluation component.
Following the final exam, students will receive letter grades consistent with the final
distribution of the total marks. Final grades will be assigned based on both absolute and
relative performance. The following table gives an overview of this class's grading system;
the actual percentage cut-offs may slightly differ.
Score
Grade
91.1-100
87.1-91
83.1-87
80.1-83
76.1-80
71.1-76
68.1-71
64.1-68
60.1-64
57.1-60
50.1-57
0-50
A+
A
AB+
B
BC+
C
CD+
D
F
Grade Point Value
4
4
3.7
3.3
3
2.7
2.3
2
1.7
1.3
1
0
The historical GPA average is 2.78.
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University Notices
•
Resources that students may want to access are available at
http://www.ualberta.ca/current-students
o Accessibility Resources: If you have a condition that may require some classroom or
exam modifications, please contact Accessibility Resources to obtain a determination
as to what accommodations should be made.
o Academic Success Centre: The Academic Success Centre offers a variety of learning
resources, including a variety of workshops in learning effective study and exam
strategies.
o Centre for Writers: The Centre for Writers offers free one-on-one writing coaching to
all students. Students can request consultation for a writing project at any stage of
development.
• “Policy about course outlines can be found in Section 23.4(2) of the University
Calendar.”
• “The University of Alberta is committed to the highest standards of academic integrity
and honesty. Students are expected to be familiar with these standards regarding academic
honesty and to uphold the policies of the University in this respect. Students are particularly
urged to familiarize themselves with the provisions of the Code of Student Behaviour
[https://www.ualberta.ca/governance/resources/policies-standards-and-codes-ofconduct/code-of-student-behaviour.html ] and avoid any behaviour which could potentially
result in the suspicions of cheating, plagiarism, misrepresentation of facts and/or participation
in an offence. Academic dishonesty is a serious offence and can result in suspension or
expulsion from the University.”
•
Other Statements
o Territorial Statement: “The University of Alberta acknowledges that we are located
on Treaty 6 territory, and respects the histories, languages, and cultures of the First
Nations, Métis, Inuit, and all First Peoples of Canada, whose presence continues to
enrich our vibrant community.”
o Learning and working environment: The Faculty of Arts is committed to ensuring that
all students, faculty and staff are able to work and study in an environment that is safe
and free from discrimination and harassment. It does not tolerate behaviour that
undermines that environment.
o Sexual Violence Policy: It is the policy of the University of Alberta that sexual
violence committed by any member of the University community is prohibited and
constitutes misconduct. Resources and more information can be found at
https://www.ualberta.ca/campus-life/sexual-violence
o “Audio or video recording, digital or otherwise, of lectures, labs, seminars or any
other teaching environment by students is allowed only with the prior written consent
of the instructor or as part of an approved accommodation plan. Student or instructor
content, digital or otherwise, created and/or used within the context of the course is to
be used solely for personal study, and is not to be used or distributed for any other
purpose without prior written consent from the content author(s).”
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