ECON 151 – Spring 2007 - Dr. Charles R. Link
Syllabus Part 3: includes ALL material on second examination on Thursday, April 26.
(cm - refers to the Course Material Booklet; R – Lieberman’s Course Readings)
Extra credit (5 points) movie: 2 showings on Thurs. May 2: 6 p.m. & 6:50 pm. in 115 Purnell
Tuesday, March 13: - First examination, 100 points.
Thursday, March 15: Problem set #3 is potentially due at the start of class.
CD module on price elasticity of demand and supply. Finish elasticities: Lecture notebook: pp. 3855; McConnell text selected reading in cm pp. 278-85.
-Handout: (could be one of the article questions on the 2nd exam)
- Lieberman’s readings booklet:
“Airlines Try Business-Fare Cuts, Find They Don’t
Lose Revenue,”R22.
“As Cameras Go Digital, a Race to Shape Habits of Consumers,” R23-24.
“Funeral Industry is Hit With Casket-Pricing Suit,” R25-26
-Utility (what underlies the shape of the demand curve), cm. pp. 60, 61, 64.
We might start into tax incidence.
Week 7
Tuesday, March 20: finish discussion from previous class.
-Tax incidence: Multimedia CD module: Tax Incidence. Lieberman’s, R37.
cm pp. 130-139. McConnell text selected readings in cm pp. 309-316.
Handouts: “Raising the Gas Tax”, WSJ Oct. 10, 2006; “Cigarette Tax Disparities Are a Boon to
Border Towns, WSJ March 7, 2007; “High Taxes on Food in Tennessee Sends Shoppers to Other
States, NYTimes, December 17, 2005.
Thursday March 22: Finish discussion from previous class.
-Agriculture: Cm 152-156, 317 – 324; “In Fight Against Farm Subsidies, Even Farmers Are Joining
Foes” R27-28.
-Rent Controls: .cm pp. 126-129; McConnell text selected readings in cm pp. 286- top 288
-Lieberman’s readings booklet: “Some Rich and Famous of NYC Bask in Sheltering of Rent Law,” R35-36.
-Tariffs: cm pp. 140-141 and 290-308.
- Lieberman’s readings booklet:
“Imposing Steel Tariffs, Bush Buys Some Time for Troubled Industry,” WSJ, March 6,
2002, R32-R34.
“So Far, Steel Tariffs Do Little of What President Bush Envisioned,” WSJ Sept 22, 2002,
R29-R31.
“Protect Us from Protectionists,” WSJ April 25, 2005, R32
“French Resistance to Trade Accord Has Cultural Roots,” R33-34
Spring Break: See you on April 3: HAVE FUN!!!!
Week 8:
Tuesday April 3: -Problem set #4 will be available at the class web site: due on April 10.
Finish discussion from previous class.
-Potentially Start Cost of Production: .cm pp. 66-83.
Multimedia CD module: Costs of Production.
Thursday, April 5: -Continue discussion on Costs of Production.
Week 9:
Tuesday, April 10: Problem set # 4 is potentially due in class.
See p. 194 for 2nd scheduled quiz from spring 2002. (Key p. 211)
Scheduled Quiz #2: 30 points and you will have 25 minutes.
-Continue discussion on Costs of Production.
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Thursday, April 12: Problem set #5 will be at the class web site and is potentially due on. April 19.
Week 10:
Tuesday April 17:
Lieberman’s readings pages R41 – R52: “Streamlined Plane Making,” WSJ pp. R43-47
“Freight Boom Takes Long-Route Railroads by Surprise,” Sunday News Journal, April 2, 2006. p. R48.
“Oil’s Surge Ignites Cost Increases for Products From Plastics to Shoes,” WSJ March 23, 2005, p.A1.
p. R50-52.
“As Energy Costs Soar, Companies Retool Operations,” WSJ, April 22-23, 2006 pp. R51-52
-Price and Output Determination: Pure Competition; .cm pp. 84-107.
Multimedia CD module: Pure Competition
Thursday April 19:
Problem set 5 is potentially due.
Problem Set #6 will be at the class web site: potentially due on Tuesday May 1
-Continue discussion on Pure Competition.
Week 11:
Tuesday, April 24: -Continue discussion on Pure Competition.
Review Session: Wednesday April 25 at 7:00p.m. – Purnell 115 Our classroom
Thursday, April 26, Second major examination: will include material covered through April 24.
There will be a 5 point question on readings in the course material just as on the first exam, and a 3
pointer on one of the interviews on the CD --just like on exam 1). Sample 2nd Exam, cm pp. 195204, key is on cm p.211). You are responsible for bringing a supply of No. 2 pencils to all exams!
Next topics: Pure competition in the long run: cm pp. 102-106.
-McConnell text selected readings, cm pp. 325-335.
-Monopoly: Multimedia CD Module: Pure Monopoly.
cm pp.108-121, 142-143, 336-342 & 284. Lieberman’s: pp. R 53-62.
-Why Govt. Intervention in the economy: cm pp. 56-59, 343-353.
- Health Issues; cm pp. 146-151; Lieberman’s: R66-R75.
- Peak load pricing of electricity; cm. P. 157; Lieberman’s, R63-65.
- Immigration Policy, cm. pp. 144-145
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