Queens College, Economics 205, Geordan Hull, 1 Instructor: Geordan Hull Session: Fall 2008 (Code: 3577, Section: 9S3) Day, Time, and Room: Saturday, 9:00 a.m. – 12:40 p.m. in PH 121 E-mail: GeordanQC@yahoo.com Office Hour: Monday, 9:50 p.m. – 10:50 p.m. in PH 154 or in PH 300B. Please feel free to speak with me either before class, during the breaks, or after class Economics 205: Price Theory Course Description/Objectives: This course is designed to familiarize you with the technical tools of economic analysis. It will show you how markets work. It will examine interaction and decision-making of consumers and producers. Some of the topics that will be covered include: Price, Input/Output Decisions of the Business Firm, Supply & Demand, Income Distribution Factors, Consumer Behavior, and Profit Maximization. Prerequisites: Economics 101 or 103, Economics 102 or 104, and Mathematics 131 or an equivalent mathematics course Required Textbooks: Microeconomics, Robert Pindyck & Daniel Rubinfeld Classwork: Students are responsible for all material covered in lectures, reading assignments, class assignments, and homework assignments. Grading: Your final grade will be based on the combination of several factors: Classwork/Attendance/Punctuality/Participation 10% Homework (www.aplia.com) 10% Two Examinations 55% Final Examination 25% Grading Equivalencies: A++ = 97-100, A = 93-96, A- = 90-92, B+ = 87-89, B = 83-86, B- = 80-82, C+ = 77-79, C = 73-76, C- = 70-72, D+ = 67-69, D = 60-66, F = 0-59 + In order to receive a grade of “A+,” students must have an overall average of 97 or higher, as well as an examination average of 97 or higher. Queens College, Economics 205, Geordan Hull, 2 Other: Please take notes during class Please check my website (http://www.qc-econ-bba.org/coursewebsite.ihtml?Instructor_last=Hull&user_CourseCode=ECON205&Instructor_ID=104 ) on a regular basis Please bring a scientific calculator or a graphing calculator to class; neither cell phones nor financial calculators may be used as calculators Please bring your textbook to each and every class, unless otherwise stated Please submit all homework assignments on time; assignments received late will not be accepted Cheating, in any form, will not be tolerated and will result in a grade of 0 and/or an F in the course; prior to taking an examination, you must remove all books, papers, etc. from your desk area Missing an examination will result in a grade of 0, unless there is an extreme emergency; you will have to provide official documentation that verifies and explains the absence All examination and course grades are final and non-negotiable If you believe that there is an error or mistake in the grading, feel free to speak with me; however, please realize that your grade may be lowered as quickly as it may be increased, as I will review your entire examination Please turn off all cell phones; if you have an emergency and need to have your cell phone on, please have it on “silent” mode or “vibrate” mode Closing: I want this course to be fun, enjoyable, and useful for everyone. Please feel free to ask me questions before class, during class, or after class. No questions are juvenile. Every question is beneficial. I want all of you to feel comfortable, and to get as much out of this course as possible. Welcome to the class! Queens College, Economics 205, Geordan Hull, 3 Course Schedule* Week Date Agenda 1 8/30 2 9/6 3 4 5 6 9/13 9/20 9/27 10/4 7 10/11 8 9 10 11 10/18 10/25 11/1 11/8 12 11/15 13 14 15 11/22 11/29 12/6 16 12/13 17 12/20 No Class Introduction/Overview The Basics of Supply and Demand Consumer Behavior Individual and Market Demand Uncertainty and Consumer Behavior Exam #1 First Exam Discussion Production The Cost of Production Profit Maximization and Competitive Supply The Analysis of Competitive Markets Market Power Exam #2 Pricing with Market Power Monopolistic Competition and Oligopoly No Class Game Theory and Competitive Strategy Markets for Factor Inputs Course Wrap-Up Final Exam * = The schedule is tentative, and may be subject to changes during the semester.