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DEPARTMENT OF ECONOMICS - QUEENS COLLEGE OF CUNY
102 Introductory Economics
Microeconomics
COURSE OUTLINE
Prof. M. Dohan
Fall 2005
SIGN UP AND START UP WITH YOUR APLIA ASSIGNMENTS TONIGHT
I. Some Basic Economic Concepts
Chapter
Aug 29
7 Major Concepts for all time: Opportunity cost, supply and demand, comparative advantage, trade as a win-win
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situation, extra costs and extra benefits as a way of thinking, market failure, efficiency and equality.
Graphs, slopes and evaluation of your math abilities. HOW APLIA WORKS. ............................................... 1 App
Aug 31 The American Economy: An Overview of a mixed market economy .....................................................................
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Organization of the American economy: the private sector from corporations to not-for-profits........................
Markets versus central planning, property rights and economic institutions, information costs .........................
Characteristics of goods and services: private (mutually exclusive users) versus public (nominal extra cost per user)
Sept. 5 No classes: Labor Day
Sept. 7 Scarcity & Choice: Resources, opportunity cost, production functions, production possibility frontiers. .........
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II. A Basic Principle for Microeconomics Analysis and Policy Decisions
Sept. 12 Marginal cost, marginal benefit and the principles of optimal choice .....................................................Lecture
III. Supply and Demand: the heart of microeconomics
Sept. 14 Supply and demand: circular flow in markets, law of demand, law of supply, market equilibrium ....................
Sept. 19 Shifts in the curves versus movement along curves. A simple algebraic model ..................................................
Sept. 21 Applications of supply & demand: price & non-price rationing, price supports, & price ceilings ......................
Excise taxes and tariffs: the cigarette and alcohol taxes and public health, price discrimination ........................
Sept. 26 FIRST MID-TERM, in class:Covers Ch. 1-4 and all in-class materials, Aplia Problems, vocabulary
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IV. From the Theory of consumer behavior and optimal choice to the market demand curve
Sept. 28 Consumer well-being, diminishing marginal utility, demand curve and optimal choice .......................................
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Oct. 3 No classes after 4:00: Eve of Rosh Hashanah
Oct. 5 No classes Rosh Hashanah
Oct. 10 No classes Columbus Day
Oct. 11 Classes Tuesday is a Monday Graphical analysis of utility maximization - optimal choice again ...................... 5 App.
Oct. 12 No classes Eve of Yom Kippur
Oct. 17 Consumer Income and substitution effects, paradox of value, consumer surplus, advertising work-leisure choice
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Oct 19 Elasticity of demand, cross-elasticity of demand. Does Advertising work. ................................................... 6 & 6 App.
V. Profit-Maximization: Step 1 Cost-Minimization of Production
Oct. 24 Role of profit maximization: desired output at the least cost: Total, Average, Marginal Product ........................
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Oct. 26 Production Function, Marginal Product, Minimizing costs and least-cost conditions (economies of scale) .........
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Oct. 31 Geometry of cost-minimization and profit-maximization (isoquants) Why capital replaces labor........................ 7 App.
VI. Profit Maximization: Step 2 Choosing the Profit-Maximizing Output
Nov. 2 Economic Profit and Optimal Decision Making: Price and Marginal Revenue, normal profit is a cost...............
Nov. 7 Variable, Fixed and Total Costs, Marginal cost and Profit Maximization in the short run ...................................
Nov. 9 Maximizing Profits in the Long Run: Costs and output decisions in the long run.................................................
Nov.14 SECOND MID-TERM, Covering Ch. 5-8 and all in-class materials and Aplia materials
Nov. 16 Perfect Competition: Price taker, supply curve MB = MC efficiency of equilibrium, shut down point, .............
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VII. Imperfect competition, other reasons for market failures & the role of government
Nov
Nov
Nov
Nov
Dec.
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Monopoly: Natural monopolies (yellow pages) versus predatory monopolies (Microsoft?)................................
Imperfect Competition and the Real World of the firm facing downward sloping demand curves .......................
Monopolist competition and oligopolies and pricing decisions: game theory at work, anti-trust regulation.........
The Price System Revisited: Efficient resource allocation, equity, growth MB=MC ..........................................
Externalities public (social) goods, imperfect information, and social choice (Bush’s dilemma) .........................
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VIII. Distribution of Income and Prices of Productive Factors
Dec. 7 Pricing of productive factors, marginal revenue product, derived demand, rent for land and baseball players, ...
prices as rationing devices. Un-owned resources (common property), demand for labor
Dec. 7 Resource Prices as a Derived Demand: Investment demand, interest, profit, Economic Rent, Land Rent ...........
Dec. 12 Wages as a Derived Demand, MRP, Offshoring, Unions, Educations, Labor supply ...........................................
Dec. 14 Comparative Advantage and International Trade ..................................................................................................
Dec 16-23
Finals Period The Final is cumulative
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QUEENS COLLEGE - DEPARTMENT OF ECONOMICS
Useful Information for Prof. Dohan’s Economics 102, Fall 2005
BUY THE RIGHT BOOK SET: 0 324425414 is the ISBN for our textbook
It includes the Baumol Micro Split plus Aplia Registration Card plus WSJ.
Register for Aplia tonight and start doing the assignments.
1. Class Room: PH 154, Class Time:Mon and Wed 5:00 to 6:15
2. E-Mail: mrdqcecon@citidexli.com or michael_dohan@qc.edu or mdohan@citidexli.com
To get through my spam filter, always enter first in the subject line QCEco 102: then your name and
topic. NOTICE THE COLON AFTER 102. Then your email shouldl get through. You should immediately
be sure that your correct e-mail address is registered in BlackBoard and that your spam filter does not block
messages from my e-mail addresses, mrdqcecon@citidexli.com or mdohan@citidexli.com.
3. Websites: www.profdatqcecon.org, www.aplia.com & http://blackboard-doorway.cuny.edu.
4. Tutoring: I shall remain about 10 minutes after every class to answer specific questions. If you don’t
understand a problem, bring it to my attention before class or send me an email and I shall try to answer it
during lecture or post an answer. It is very efficient this way because other students probably have the same
question. My office hours are not suitable for tutoring help because I need to do major advising and foreign
student transfer credit evaluation during these hours. So use this extra “after-class time” I am giving you.
Usually there is tutoring for Eco 102 in Kiely 131.
5. Office and Office Hours for major advisement and transfer evaluation.

Powdermaker Hall, Room 306F. To reach me during office hours, call (718) 997-5461. To leave a
message, call the Eco. Dept. (718) 997-5440.

Mondays 3:30-4:30 & 6:30-7:30 and Wednesdays 3:30-4:30 (Transfer evaluation and Economics and
BBA advisement have priority.). Our “after class office hours” are best.

THE BEST WAY to contact me at any other time is to send an email to mdohan@citidexli.com
6. APLIA GRADED PROBLEM SETS AND LABS: “Aplia” is an integral part of the course and the
graded problem sets will be about 20% of your grade. It provides great practice problems to help you
learn before you do the graded quizzes. Also this version ables you to print out part of the chapters if you
don’t want to carry the whole book to class with you.
 You must register for Aplia at http://econ.aplia.com using the KEY provided in the Baumol & Blinder
Microeconomics Package Be sure to use the code that came with your book when you sign up.
 Also note the Assignment Completion Deadlines, after which you can NOT work further on the
Graded Problem set. Up to that date, you can work on it, change answers, etc.
7. PHOTO: Each student should send me a digital photo so that I can remember your name.
8. How to Get an A in this Course: See suggestions below.
9. Some Guidelines for Students.
1. Prepare for class! READ the assigned chapters, the WSJ, do the Aplia practice problems before class.
Please do not talk to your classmates during lecture. If you have a question, please raise your hand & ask me.
3. Try solving or preparing an answer to a question directed at a specific student or to the class in
general Please, never shout out the answer without being asked. Raise your hand if you know the answer.
4. Please turn off all cell phones. Put your phone away in your backpack, purse, etc. Set it on voice
mail and have a special announcement that you are in class and will call back after 6:15. If you are
expecting a “crucial phone call” or have children at home alone, please let me know before class so that I
can arrange for an exception to this rule.
5. Students are not permitted to leave the classroom during lectures or quizzes for any reason. If you
have to leave early please let me know before class. If you leave, don’t plan on coming back. Plan ahead.
6. Any student who fails to observe the above rules or whose behavior is disrespectful of other students or
the instructor or otherwise disrupts the learning atmosphere of the class will be disciplined.
7. Lateness: Come to class even if you are late. Of course, try to come to class on time but I know your
schedules and work makes it difficult at times. Simply explain to me after class why you were late.
2.
8. Absences Please e-mail me if you know you will be absent. Have someone take notes. You are
responsible for obtaining homework assignments, etc., from your friends in class.
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QUEENS COLLEGE - DEPARTMENT OF ECONOMICS
Some Other Important Information for Students in Prof. Dohan’s Class
Some of the following is drawn from a syllabus used by my colleague Ted Levine who taught Economics 225 to whom I
am greatly indebted in sharing and sharpening some of these ideas. The responsibility for errors however remains mine.
1. Religious Requirements and Special Needs:
Students, who will be prevented by religious requirements from attending class on certain days, are
responsible for notifying the instructor at the beginning of the semester, and again before exams are
scheduled. On exam days, students who have specific religious clothing requirements must bring appropriate
clothing that complies with the instructor’s policy on academic honesty. Students with disabilities requiring
special accommodations should go to the Office of Special Services at the beginning of the semester and
follow all notice requirements provided by that office
2. The Importance of Academic Integrity for our Queens College students:
 Over the past few years, events have shown the importance of ethics in public life. We have all seen in
recent years, the terrible social and human costs when people, placed in a high positions of public trust in
both the private and public sectors, violated these standards (from Enron and justification for war on
WMD to unethical concealing of side effects of prescription drugs and just recently, KMPG).
 Thus, we want our graduates to have a profound understanding of the importance of and to observe the
highest standards of ethical behavior that has been traditionally expected from those studying and doing
research in a university. Thus, you are responsible for knowing, understanding the purpose and
following the Queens College and CUNY policy on Academic Dishonesty, Cheating and Plagiarism.
 The Key Concept of Academic Integrity. Any work and results, that you present to the academic
community, be it a paper, an exam, a homework, the results of a research project, etc., should represent
your own work, data, findings, theories, hypotheses and solutions. If the task so requires, your work
should well document the contribution of others. Do not represent other's work as your own, falsify data,
hinder the work or study of others in the academic community, use non-permitted means in taking exams
or assist others in engaging in such behavior.
 Prof. Dohan’s in-class exams are closed book (no books, no notes, and no similar study aids are
permitted to be used). In an exam setting, students are responsible for making sure there is no reason
to suspect cheating. That means that students must not look at other students papers, permit other
student to see their papers or communicate with other students, must not wear baseball caps or other
hats with brims (or sunglasses), must not put anything into or take anything out of bags or pockets
during exams, and must make sure that the aisles and empty chairs/desks around them are absolutely
clear of papers, books, bags, jackets, other clothing, electronic devices and debris. Your desk top must
be free of all writing related to our course.
 Calculators: Only simple calculators may be used during the class. Calculators capable of
producing graphs, solving equations or memorizing notes or formulas are not permitted. Students who
only have such calculators should borrow or purchase a simple calculator that only performs basic
operations.
 All cell phones must be turned off and put in an enclosed bag under your chair or left with the exam
proctor. Any cell phone visible or used during an exam will be reported to the Dean of Student and kept
on file. All other personal electronic devices (Ipods, Bluetooth devices, electronic dictionaries, etc) must
be turned off and stored in an enclosed bag beneath your seat.
 Electronic foreign language translators are not allowed. Materials not permitted to be used during
exams must be inside completely enclosed bags, and stored completely beneath students’ own chairs or at
the front of the room.
 Leaving an exam room during an exam is not permitted except in rare circumstances. Plan ahead.
 The Consequences of not adhering to these rules. Students not adhering to these rules, e.g. using a cell
phone during an exam for whatever reason, will be presumed to be cheating. No warnings will be given
other than this one. Students, who cheat, abet cheating or commit plagiarism, will face academic
sanctions from the instructor (e.g., an F for the exam or paper to an F for the course). The instructor is
also expected to file a report with the Dean of Students, who will decide on the need for further
disciplinary action.
Note: Aplia graded problem sets must reflect your own work. I highly encourage students to study together and
work together on assigned homework in this class. Discussion with study-buddies is expected. But your study-buddy’s
answer could be wrong. Two identical wrong answers could raise suspicion. In summary, students must do their own
Graded Aplia Problem Sets and other graded assignments on their own. Write and understand your own answers and
explanations and math equations. If you hand in an assignment without understanding how you got the answer, you
may be subject to the Rules of Academic Integrity above.
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QUEENS COLLEGE - DEPARTMENT OF ECONOMICS
How to Get an A in this Course
Secrets to Prof. Dohan’s Economics 102
1. “You got to believe” in the importance of learning this course and the way in which I teach it.
By understanding microeconomic theory - the behavior of consumers, producers, owners of
resources, market structures, incentives, asymmetric information, etc. - you can begin to
understand economic phenomena and to predict the consequences of different economic
institutions and policy interventions and how it affects your life. My course is taught in such a
way as to prepare students for advanced courses in economics, finance and the BBA program
Thus, you will find that the articles you read in WSJ — the benefits and, costs of new energy
laws, winners and losers of globalization, the effects of policy decisions over taxes and tariffs,
minimum wages, over-time, and health and safety laws, and practically every other aspect of
public life—are infused through and through with the language, concepts and many of the results
of microeconomic theory. Its applications affect business and policy decisions the world over
every day. Understanding, of its foundations, structure, applications and limitations, is therefore
important for voters, policy-makers and businesspeople – and accountants -- alike. Of course, it
is especially important for technicians of various sorts (actuaries, financial market analysts, etc.)
and economists who will make direct use of microeconomic theory in their daily work.
2. Meet the Math and English Prerequisites: Be comfortable with graphs and basic algebra.
Students who do not meet prerequisites (Math 110) listed for this course in the College Bulletin
and Schedule of Classes, before beginning this class, should know that they are not likely to pass
this class and may be dropped.
3. Prepare for class. Read the chapters before the lectures, do the practice problems before you
come to class, take good notes in class and be sure to note when I point out a special problem or
graph or concept. Or an article in the Wall Street Journal.
4. Complete the Graded Aplia Quizzes on time. But do the practice quizzes first. Aplia Graded
Problem Sets must be completed by the deadline or it gives you a zero or a grade for the
problems completed up to the deadline. Students who miss a homework deadline for a legitimate,
documented reason must still complete the Aplia homework, which I shall make available on a
case by case basis.
5. Study enough. If English is your native language, plan on about 6-8 hours every week for reading,
studying, practicing problems, writing out definitions and doing work on Aplia. Add on a few hours
if you have trouble reading English. The gives you enough time to practice. Outside jobs should
not interfere with your studies. 15 hours of outside work or sports or clubs per week is feasible.
6. Study groups. Try to form a study group of three or four students to work together on problems and
take notes in your absence. You are not competing against each other for grades. Everybody can
get an A if you all learn it well.
7. Record or videotape my lectures especially if you don’t always understand the English.
8. Preparation for exams should really be a review. This course cannot be "crammed" or
understood if you do not keep up with the reading.
9. Do as many practice problems as possible. Review and try to answer the problems in the back
of the book and in Blackboard and Aplia. (My wife went to Queens and got A+ in most of her
accounting courses. Her secret. Do all the problems until you understand them.)By going over
as many problems as you can in the book, and Aplia as well as Blackboard, you will learn the
most and do well in the course. The exams draw a significant portion if not the entirety of the
exam from these problems.
This is a challenging courses because it is not simple memory, but rather requires applying theory
to problems, testing hypotheses, defining and using concepts to explain economic phenomena.
10. Increase your reading vocabulary from 1) the class, 2) the text, 3) the Aplia problems and 4)
the first page of the WSJ: You are expected to keep a list of new words used in lecture, the
textbook and the WSJ. Any word in the reading may be used in exams and quizzes.
11. Read The Wall Street Journal: Focus on the front page and on articles about the industries
identified at the beginning of the semester. Add unknown words to your vocabulary. Make it a life-long
habit if you are in the BBA program.
INTERESTED IN MAJORING IN ECONOMICS or the BBA? Stop in to talk about the major
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QUEENS COLLEGE - DEPARTMENT OF ECONOMICS
Let me tell you again about “How to Get an A in Economics 102”
Students should take it upon themselves to read the covered chapters (including appendices ) and work as
many of the problems in Aplia, at the end of the chapters and as needed to be certain that they could work
similar types of problems on exams. Students should do this continuously throughout the course as material
is covered (as opposed to trying to cram it in before exams), and seek help along the way with any
difficulties. I will expect students to come to class prepared and to attend and actively participate in all class
sessions. I may call on students and may give short, unannounced quizzes from time to time.
Formal Course Requirements for Prof. Dohan Economics 102
In addition to the above work that students should regularly do on their own, I will specifically assign the
following:
 The Aplia Practice and Graded Problem Sets for the Chapters assigned. You will see them.
 2 mid-term exams
 A final exam. The final exam will be cumulative, and the second mid-term will be somewhat cumulative only to the
extent that the material covered on the second exam depends on material covered earlier. Exams will, in general, not
be curved. If I do find it necessary to curve a particular exam, this does not in any way indicate that subsequent exams
will be curved.)

Two short (about 5 minutes) presentations or short in-class written essays, applying some aspect of
microeconomic reasoning or theory to a article in the WSJ.
These presentations or in-class essays will be part of class participation.
MY GRADING POLICY:
If everybody does well, you all get high grades. If everybody fails, you all get bad grades.
There is no predetermined grade distribution. I like giving A’s and B’s.
How are you doing?
Your grade is based on two mid-term exams, your Aplia graded problem set score, the final exam, and prepared
class participation, the WSJ analyses using concepts developed in the course. Being prepared for class (having
done the problems and reading) further improves your grade. The Final is cumulative and is drawn largely from
problems and examples covered in class after the second mid-term, the two mid-term exams, the Aplia practice
problems and any take-home problems – with different numbers or examples, but the same underlying question or
concept and from a posted vocabulary list. The final has the largest weight. If you fail the final badly, you can
fail the course despite your base grade.
The first step in computing your course grade will be to compute a base grade as follows:
Aplia Graded Problem Sets (Average total score)
20%
Midterm I:
20%
Midterm II:
20%
Final Exam: (Cumulative)
40%
The formula may be modified to give greater weight to later exams than earlier ones, in the event that
students show significant improvement or to add other factors. However, “ the lowest grade” is NOT
dropped. The final course grade may be higher, lower or the same as the base grade computed this
way, depending on student participation, other assignments and short quizzes. The quality and
quantity of class participation and preparedness (including quizzes), may affect student grades
positively (if participation is good) or negatively (if participation is lacking or students are seriously or
repeatedly disruptive in terms of Some Guidelines for Students above).
All graded Aplia problem sets, any other assigned homework and the exams are required. This
means that, except in the case of documented emergencies, students may fail this class for failing to
take one or more exams. Students, who must miss one of the mid-term exams due to a legitimate,
documented emergency, will have that exam grade replaced by counting the final as 60% your base
grade instead of 40%.
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QUEENS COLLEGE - DEPARTMENT OF ECONOMICS
Student Access to BlackBoard on CUNY – Fall 2005
1. How is BlackBoard different from previous semesters?
If you have used BlackBoard in previous semesters, the following information is very important. If this is your first
time using BlackBoard for a course, you can skip to number 2.
BlackBoard is now running on a central server at CUNY, not on a local server at Queens College. You should no
longer use the URL blackboard.qc.edu to access BlackBoard, and you no longer have any use for the BlackBoard
user ID and password you have been using. BlackBoard is now accessible using the CUNY Portal, available at
www.cuny.edu. For this, you need a Portal ID and password. The CUNY portal contains a great deal of information
aside from BlackBoard.
2. Getting a Portal ID is the first step.
The only information you need to log on to BlackBoard is a Portal ID and a Password. To get a Portal ID, go to
www.cuny.edu. Click on the "Log In" link in the left frame on the bottom. Click on "Register Now!". You will be
asked for your last name, Social Security Number and date of birth. (All of this information has been supplied to the
Portal by the Registrar.) You will then be asked to create a Portal ID and password. Obviously, you need to
remember these items! If you have been successful at getting a Portal ID, proceed to number 3. Otherwise, the
following problems may occur:
a.
The Portal does not recognize you.
If you get the message "One or more fields below did not exactly match the data we have in our records. Please try
again.", this means the information supplied by you was entered incorrectly, or it does not match what the Registrar
has on file, or your information is not in the Portal database. The student help desk in I-Building may be of assistance
in looking up your information.
b.
The CUNY Portal is not available.
This happens more often than we would like, and the only thing you can do is try later.
3. Logging on to the Portal and BlackBoard
After registering for your Portal ID, or after going to www.cuny.edu and clicking "Log In", you should enter your
Portal ID and password. You will get a screen with a lot of information. Before you do anything else, you should
make sure that your email address for the Portal system is correct. Click on "My Profile" on the bottom of the left
frame. Check your email address that appears, correct it if necessary and click "Save". This is important, because if
you forget your password, it will be emailed to that address. You may need to click on the "My Page" link at the right
of the top horizontal frame.
Now you can log in to BlackBoard. In the top left balloon labeled "SSO Applications..." you should see a link for
BlackBoard. Click on that. You will see a screen with all the CUNY Colleges, and links saying "student" by any
college in which you are using BlackBoard. Click on the "Student" link next to Queens College. This should bring
you into the Queens College BlackBoard page, and you are finished with the log in process. It is a good idea to click
on "Personal Information" in the Tool Box at the left. Click on "Edit Personal Information" and make sure your
email address is correct.
4. If the Portal is down, are you doomed?
If the Portal is down, but BlackBoard is running, you will get a page from www.cuny.edu with a link to the
"doorway". This is so you can still enter your Portal ID and password and get to BlackBoard, even though you
cannot log in to the Portal.
5. Forget something?
If you forget your password, there is a "Forgot Password" link on the Portal Login page. It will email your password
to you. The email address it uses is the one on file with the Portal. As noted in part 3, you should make sure this is a
current email address. If your email address is wrong, you will need to consult the Student Help Desk in I-Building
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QUEENS COLLEGE - DEPARTMENT OF ECONOMICS
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Econ 102, Fall 2005, Prof. Dohan, Introduction to MicroEconomics
Student Statement of Understandings
I have read the course syllabus in its entirety, have had the opportunity to ask the instructor questions and
clarify any doubts about any aspect of the syllabus, course requirements, academic integrity, grading policy,
classroom rules and exam rules and have received full and clear answers to all such questions. I have also
identified any conflicts between classes and my need to be absence for religious purposes and have written
those on the back of this form.
I understand that certain information contained in the syllabus may be changed during the course of the
semester, and that such changes may be communicated either in class, on the class websites (especially,
www.profdatqcecon.org) or by e-mail. I acknowledge that it is my responsibility to keep up with such
announcements, even if I miss class or e-mails or add the class after the first day, and it is my responsibility to
ensure that my Blackboard settings and e-mail settings allow me to receive e-mails sent to the address
registered for me in Blackboard.
_______________________________
PRINT NAME
_______________________
Last 4 digit STUDENT ID
_________________________________________
SIGN
_____________________________________________
MAJOR/ DEGREE PROGRAM AT QC
Career Plans after graduating from QC ____________________________________________________
____________________________________________________________________________________
Home Phone __________________________________________________________________________
Cell Phone _________________________________________________________________________
Email (non-College) ___________________________________________________________________
College Email (Blackboard email) ________________________________________________________
Work Phone _________________________________________________________________________
Work Address________________________________________________________________________
Type of Work and Position _____________________________________________________________
Hours per Week ______________________________________________________________________
Planning or have taken CPA, CFA or similar exam __________________________________________
Previous Education
Undergraduate College, Degree and GPA __________________________________________________
Country_____________________________________________________________________________
Economics Courses Taken and When _____________________________________________________
___________________________________________________________________________________
___________________________________________________________________________________
Math Courses Taken, Grades and When ___________________________________________________
___________________________________________________________________________________
Optional Language Spoken at Home ____________________________________________________
Optional Other Languages Spoken _____________________________________________________
Optional Country or Place of Birth _____________________________________________________