Last updated: 6/29/2010
Introduction to Microeconomics
220:102 Section H7
Instructor: Gabriel Lade
Office: NJ Hall 408
College Ave. Campus, 75 Hamilton Street
Email: glade@econ.rutgers.edu
Course Syllabus
Course meeting times and location
This course will meet on Tuesdays and Thursdays from 6:00 PM until 9:55 PM in
Hardenbergh Hall room A7. The course will meet from 7/13/2010-8/17/2010.
Office hours
Office hours will (tentatively) be held on Wednesdays from 6:00 PM- 7:00 PM and before
class on Thursdays from 5:00 PM- 6:00 PM. Students can also make an appointment by emailing
me at glade@econ.rutgers.edu.
Prerequisites
The co-requisite or pre-requisite for this course is pre-calculus (01:640: 111, 112, or 115) or
placement into calculus.
Textbook & Aplia
The text we will be using in this course is Paul Krugman's Microeconomics, 2nd edition. The
text should be available at the RU bookstore. Reading and homework assignments for the course
will be available online from Aplia Inc. Students have the option of ordering both the book and
access to Aplia from Aplia directly. Students can order either an electronic copy or a physical copy
of the book from Aplia. Note that regardless of where the student buys the book, access to Aplia is
mandatory for the course. For further information, please refer to the instructions at the end of the
syllabus.
Course description
This is a first course in microeconomics. The overall objective of this course is to develop
an understanding of how economists approach problems, to learn about basic tools used by
economists in solving problems, and to integrate this material as it applies to various important
fields of economics such as industrial organization, public economics, and international trade.
Introduction to Microeconomics will teach students the meaning and relevance of basic economic
concepts including opportunity costs, positive and normative economics, scarcity, tradeoffs,
comparative advantage, marginal analysis, efficiency and equity, and market failure.
Over the course of the summer, students will learn:
1. Basic economic concepts including opportunity costs, scarcity, positive and normative
economics
2. How to analyze production possibilities of firms and countries, the sources of their
comparative advantages, and gains from trade
3. How to use the supply and demand model to understand how markets work.
4. How elasticity is calculated and its relevance to understanding markets.
Last updated: 6/29/2010
5. How to analyze consumer behavior with respect to decisions about consumption,
savings and employment.
6. How to analyze decisions firms make about pricing, output, employment and
investment.
7. How to analyze the behavior of firms in alternative market structures including perfect
competition, monopoly, monopolistic competition and oligopoly.
8. How to apply basic game theory to strategic interaction between companies and
individuals
9. How to use the concepts of equity, efficiency, and market failure to analyze and evaluate
government policies such as price floors and ceilings, tax policy, environmental policy,
etc.
10. How to apply economic concepts and ideas to situations not specifically covered in class.
Grading
Your grade will be determined as follows:
 Homework
 Weekly quizzes
 Midterm Exam: Thursday, July 29, 2010
 Final Exam: Tuesday, August 17, 2010 (Final day of class)
15%
15%
30%
40%
There will be NO make-up exams under any circumstances, except in cases of emergency
where sufficient documentation is provided. In such cases, the instructor must be contacted within
24 hours of the exam period. If you know that you are unable to attend one of the exams, it is
strongly recommended that you take another section.
No calculators, cell phones, or other electronic devices may be used during the exams.
Academic Integrity
Students are expected to adhere to the Student Code of Conduct outlined in the University
Code of Student Conduct. Students are also expected to maintain academic integrity. Students who
violate academic integrity are subject to sanctions. More information can be found at:
http://catalogs.rutgers.edu/generated/nb-ug_current/pg21725.html
http://catalogs.rutgers.edu/generated/nb-ug_current/pg21724.html
Assignments and quizzes
Homework assignments will be posted on the Aplia website. You will work online and
submit your answers via Aplia. New assignments will be posted weekly. Assignments will be due
each week by 11 PM on Sunday. You can change your answers any time before the due date, but
once the due date is past, you are not able to change or submit your answers anymore. After each
due date, you will be able to check the correct answers as well as explanations for those answers. All
assignments excluding "practice assignments" will count. The lowest score will be dropped.
Homework will count for 15% of students' final grade.
Short quizzes will be administered weekly to ensure that students are keeping up with the
material. Students must be in class to take the quiz and no make-up quizzes will be allowed. The
lowest quiz score will be dropped. Quizzes will count for 15% of students' final grade.
Last updated: 6/29/2010
Sakai
Course announcements and grades will be posted on Sakai for this course. Students are
responsible for checking the site to get updates on the course.
Course schedule (Tentative)
The following schedule outlines the topics that will be covered in each session. Note that
this is a tentative schedule, and may be changed during course. Possible addendums would be
covering public goods and common resources, and the economics of the welfare state (Ch. 18,19)
time permitting.
Students are expected to come to each class prepared and to have read all relevant material.
Extra readings may be assigned for each topic covered.
Note that on Thursday, July 29, we will have an 80 minute midterm exam. Given the short
nature of the course, lecture will be held after the midterm is complete.
Date
Topic
Tuesday, July 13, 2010
Thursday, July 15, 2010
Tuesday, July 20, 2010
Thursday, July 22, 2010
Tuesday, July 27, 2010
Introduction, Economic models
Supply and demand, Consumer and producer theory
Market controls and problems, Elasticity
Taxes, Externalities
International trade , Review
Thursday, July 29, 2010
Tuesday, August 03, 2010
Thursday, August 05, 2010
Tuesday, August 10, 2010
Thursday, August 12, 2010
Tuesday, August 17, 2010
Midterm Exam (first half)
Decision making
The rational consumer, Consumer preferences and consumer
choice
Firms, inputs and costs, Perfect competition and the supply curve
Monopoly, Monopolistic competition, and product differentiation,
Oligopoly, Uncertainty, risk and private information (optional),
Review
Final exam
Reading
Ch 1,2, Appendix
2
Ch 3,4
Ch 5,6
Ch 7, 17
Ch 8
Ch 9
Ch 10, 11
Ch 12, 13
Ch 14, 16
Ch 15, 21
Last updated: 6/29/2010
Student Registration and Payment Instructions
Course Name: 220:102 Section H7, Lade, Summer 2010
Start Date: 07/13/2010
Instructor: Gabriel Lade
Course Key: 4TBX-RTX5-X943
You can begin working on your homework as soon as you register!
• In this course, you will use a textbook and Aplia's website.
• In most cases, you can save money if you buy Aplia and your textbook together. See payment
options below.
• You will have access to a digital version of your textbook using Aplia.
Registration
If you have never used Aplia before...
1. Connect to http://www.aplia.com.
2. Click the Create a New Account link and choose Student Account. You will then enter your
course key: 4TBX-RTX5-X943. Continue following the instructions to complete your registration.
If you have used Aplia before...
1. Connect to http://www.aplia.com.
2. Sign in with your usual e-mail address and password and enter your Course Key when prompted:
4TBX-RTX5-X943. If you are not prompted for a new Course Key, click the Enroll in a New Course
button at the top of your My Courses page to enroll in a new Aplia course. Enter your Course Key
when you are prompted.
* You will have different payment options after you register for your course. If you choose to pay later,
you can use Aplia without paying until 11:59 PM on 07/22/2010.
Payment
Option 1: Digital Textbook with Aplia Access
• From Aplia: Purchase access to your course from Aplia's website for $80.00 USD.
Option 2: Physical Textbook with Aplia Access (also includes digital textbook)
• From Aplia: Purchase access to your course for $80.00 USD and a physical book for $52.00
USD from Aplia's website.
• From Bookstore: Purchase an Aplia Access Card and a physical book together as a bundle
from your campus bookstore.
* If you purchased an Aplia Access Card from a bookstore, enter the Access Card's payment code on
Aplia's website as payment for your Aplia course.
* You will have access to your digital textbook up until the end of this course.