© Dr. Noriko Ozawa. Not to be copied, used, or revised without express written permission from the copyright owner.
Unit 8, Economics
UBC Okanagan
University of British Columbia, Okanagan
ECON101: Principles of Microeconomics
2012/13 Winter Session Term 2, Section 003
Instructor: Professor Noriko Ozawa
Office: ART 260
Phone: (250) 807-9303
E-mail: noriko.ozawa@ubc.ca (Emergency contact only. Do not expect a reply)
Office Hours: Mon, Wed 10am – 1pm, or by appointment
Lectures:
Tuesday and Thursday, 8:00 – 9:20, Room ART366
Course Description
This is an introductory course in microeconomics. Topics include supply and demand, market efficiency
and firm behavior in different market structures. We will also study how government policies affect
market outcomes.
Course Focus and Objectives
Microeconomics is the study of how people, firms and governments make decisions when facing scarce
resources (such as time and land) and how they interact with each other. To study their behaviours,
economists use an analytical framework or an economic model built on a set of economic principles. You
will first learn what those principles of microeconomics are, and then study the economic way of
thinking, that is, how economists use a model to explain phenomena we observe every day.
Economic models in this course are often composed of diagrams. Mastering the course material means
that you can draw good diagrams and that you can use them to answer questions at hand. Keep in mind
that those diagrams are a powerful tool to understand the economic way of thinking. They help you to
organize your thought and thereby improving your problem-solving skills.
Specific goals of this course are as follows. After taking this course, I expect students should be able to:
• explain the principles of individual decision making and apply them to real-world examples.
• use the model of demand and supply to analyse the effects of changes in the marketplace on price,
quantity demanded and quantity supplied.
• explain what determines the elasticity of demand and supply and apply the concept in different
markets.
• explain and predict the effects of government intervention into the marketplace with policies such
as rent controls, subsidies and minimum wages.
• explain under what circumstances markets fail to generate the best outcome for society and how
government policies improve the outcome.
• explain and use the basic concepts of production and costs.
• explain and predict firm behaviour in each of the four market structures: perfect competition,
monopoly, oligopoly and monopolistic competition.
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© Dr. Noriko Ozawa. Not to be copied, used, or revised without express written permission from the copyright owner.
Unit 8, Economics
UBC Okanagan
Required Course Materials
1. Aplia access card
2. N. Gregory Mankiw et al., Principles of Microeconomics (5th Canadian Edition), Nelson,
Thomson Canada 2011.
3. i>clicker Remote
Aplia is an internet-based learning tool. Aplia access card gives you access to a digital version of the
textbook and online homework assignments for the duration of this course. You can purchase either
Aplia access card with or without a hard copy of the textbook (See the last page of syllabus for detail).
Course Requirements and Evaluation
Your final grade of the course will be based on the following components:
Aplia On-line Homework Assignments:
Quizzes on Mankiw’s chapters
News Analysis
Participation (iClicker quizzes)
Two term tests
Final Exam
15% (Throughout the course)
5% (Throughout the course)
5% (Throughout the course)
35%
40%
 Term Tests and Final Exam
Two 60-minute term tests will be held in class. The first midterm is scheduled on Thursday, January
31 and the second on Tuesday, March 5. The 3-hour final examination will be held during the April
examination period (Apr. 9 – 24 inclusive).
The two term tests comprise a total of 35% of the course grade. The term test with a higher mark
counts for 20%, whereas the other counts for 15%. The final examination is worth 40% of the course
grade.
No make-up midterm test will be given under any circumstances. If you miss the midterm test for a
valid medical or personal reason, with the validity as assessed by the instructor, then the weight of that
test will be placed on the final exam.
 Aplia On-line Assignments:
On the webpage of this course at Aplia website, you will find two types of graded assignments,
Chapter Quiz and News Analysis. Chapter Quiz tests your understanding of the materials covered in a
specific chapter of the text. News Analysis asks you first to read a newspaper article and then to
answer questions related to the article. It tests your ability to apply the economic principles learned in
the chapter to real world events.
Both Chapter Quiz and New Analysis that correspond to the chapters covered in class in a given week
are due at 11pm, the following Monday. For example, if I cover chapter 4 in week 4, Ch. 4 Quiz and
News Analysis about used textbooks will be due at 11pm, Monday in week 5 (i.e., Jan. 28). For a
given Monday, the number of assignments may be as little as 1, or as many as 6. Plan ahead, start
early and don’t wait until the last minute. No credit will be given for assignments submitted after the
deadline. If you have any questions or concern about the grading of an Aplia assignment, you must
inform me within one week of the due date for re-evaluation.
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© Dr. Noriko Ozawa. Not to be copied, used, or revised without express written permission from the copyright owner.
Unit 8, Economics
UBC Okanagan
How to Compute Your Marks on Aplia Assignments
1. Chapter Quizzes
There will be a total of 16 Chapter Quizzes. Some quizzes have more questions than
others. Your score of each quiz is the proportion of correct answers. To determine your
mark on the Aplia quizzes, I first drop one quiz with your lowest score and then compute
the average of your scores on the remaining 15 quizzes. Your average mark on Chapter
Quizzes counts 15% of your course grade.
2. News Analysis Assignments
There will be a total of 12 News Analysis assignments. Of those, you are required to
complete 8 assignments. Your final mark on News Analysis Quizzes is the average of your
scores on the 8 assignments you submitted. If you submit more than 8, then I will use your
top 8 scores to compute the average. Your average score on News Analysis assignments
counts 5% of your course grade.
 Clickers:
i>clicker is a response system that allows you to respond to questions I pose during class, and you will
be graded on that feedback and/or your in-class participation. In order to receive this credit, you must
register your i>clicker remote online by 11am, Tuesday, January 15. I am planning to use i>clicker
some of my lectures. You are responsible for bringing your remote every class.
You can purchase an i>clicker remote at the UBC Bookstore at $42 for a new one and $32 for a used
one. The Bookstore will buy back your remote at a 50% of your purchase price at the end of the term.
How to Register Your Clicker:
Login to Connect. Go to the homepage of this course (2012W2 ECON101). You will find an
i>Clicker Registration Module located below the picture of your textbook. Click the link on this
module to get the registration form. Follow the instruction and register your i>clicker remote.
How to Compute Your Participation Mark:
To determine your participation mark, I first drop 20% of i>clicker questions I asked throughout
the term and then compute the proportion you participated in the remaining 80% of i>clicker
quizzes. Your participation mark counts 5% of your course grade.
Example:
Suppose that I asked a total of 50 i>clicker questions. Suppose further Anna answered 45 of
them and Barb did 25. Anna’s participation mark is 100% i.e., 45 = 1.125 ⇒ 100% and
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Barb’s 62.5% i.e., 25 = 0.625 .
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Course Websites
 Blackboard
I will use Blackboard to distribute all course material, such as lecture notes, problem sets and their
solutions. I expect students to visit the website and to check for any updates between class meetings.
• Lecture Notes:
Lectures are most often PowerPoint presentations. I will post my lecture notes on Blackboard at
latest one day before I discuss in class. The lecture notes contain most of my lecture slides with
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© Dr. Noriko Ozawa. Not to be copied, used, or revised without express written permission from the copyright owner.
Unit 8, Economics
UBC Okanagan
key concepts and their definitions, and descriptions of economic models. Most of your note
taking during class are therefore drawing diagrams and/or solving math problems. I recommend
that you print out the lecture notes and bring them to the class. You can then take your
own notes or draw diagrams directly on these print outs.
• Videos:
All videos are created from my lecture slides. They show you how to draw a diagram and/or how
to use it to answer the question at hand. Remember diagrams are a tool to explain economic
theories. What is important is to understand how and why a diagram should be constructed the
way I show in class. How well and how fast you can draw a diagram often reflects how much
you understand the underlying economic theory.
• Problem Sets: I will post problem sets and their solutions on Blackboard. These problem sets
are designed to prepare you for the midterms and the final examination. I encourage you to try
each problem set immediately after it is posted. Come to see me if you have questions, or go to
see my teaching assistants.
 Aplia (http://www.aplia.com)
You will go to this website to do homework assignments and/or do required readings.
 Mankiw Textbook Support Site: (http://www.mankiw5e.nelson.com)
Classroom Etiquette
Please respect your fellow students and the instructor by doing only class-related activities inside the
classroom. Please turn your cell phones, text messages, etc. off and refrain from non class-related
activities.
Laptop Usage: You are not allowed to use your laptop or tablet in class because it will become
distraction to other students. If you must use it, please get permission from me.
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© Dr. Noriko Ozawa. Not to be copied, used, or revised without express written permission from the copyright owner.
Unit 8, Economics
UBC Okanagan
Tentative Lecture Schedule and Reading Assignments
Dates
Week 1
Topic
Course Overview
Assigned Reading
Week 2
Principles of Economics
Thinking Like an Economist
Ch. 1
Ch. 2
Week 3
Interdependence and Gains from Trade
Market Forces of Supply and Demand
Ch. 3
Ch. 4
Week 4
Elasticity and Its Application
Ch. 5
Week 5
Supply, Demand and Government Policies
Term Test 1 (Thursday, Jan. 31)
Ch. 6
Week 6
Consumers, Producers and the Efficiency of Markets
The Costs of Taxation
Ch. 7
Ch. 8
Week 7
International Trade
Externalities
Ch. 9
Ch. 10
Week 8
Mid-term Break (no classes)
Week 9
Externalities
Public Goods and Common Resources
Ch. 10
Ch. 11
Week 10
Term Test 2 (Tuesday, Mar. 5)
The Cost of Production
Ch. 13
Week 11
Firms in Competitive Market
Ch. 14
Week 12
Firms in Competitive Markets
Monopoly
Ch. 14
Ch. 15
Week 13
Monopoly
Monopolistic Competition
Ch. 15
Ch. 16
Week 14
Oligopoly
Review for the final exam
Ch. 17
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© Dr. Noriko Ozawa. Not to be copied, used, or revised without express written permission from the copyright owner.
Unit 8, Economics
UBC Okanagan
Academic Integrity
The academic enterprise is founded on honesty, civility and integrity. As members of this enterprise, all
students are expected to know, understand, and follow the codes of conduct regarding academic integrity.
At the most basic level, this means submitting only original work done by you and acknowledging all
sources of information or ideas and attributing them to others as required. This also means you should
not cheat, copy, or mislead others about what is your work. Violations of academic integrity (i.e.,
misconduct) lead to the breakdown of the academic enterprise, and therefore serious consequences arise
and harsh sanctions are imposed. For example, incidences of plagiarism or cheating usually result in a
failing grade or mark of zero on the assignment or in the course. Careful records are kept in order to
monitor and prevent recidivism.
A more detailed description of academic integrity, including the policies and procedures, may be found
at: http://web.ubc.ca/okanagan/faculties/resources/academicintegrity.html.
Disability Resources
If you require disability related accommodations to meet the course objectives, please contact the
Coordinator of Disability Resources located in the Student Development and Advising area of the student
services building. For more information about Disability Resources or about academic accommodations
please visit the website at: http://www.okanagan.students.ubc.ca/current/disres.cfm.
Equity, Human Rights, Discrimination and Harassment
UBC Okanagan is a place where every student, staff and faculty member should be able to study and
work in an environment that is free from human rights-based discrimination and harassment. Under
UBC’s Policy 3 on Discrimination and Harassment, UBC prohibits discrimination and harassment on the
basis of the following grounds: age, ancestry, colour, family status, marital status, physical or mental
disability, place of origin, political belief, race, religion, sex, sexual orientation or unrelated criminal
conviction.
If you require assistance related to an issue of equity, discrimination or harassment, please contact the
Equity Office, your administrative head of unit, and/or your unit’s equity representative.
UBC Okanagan Equity Advisor: ph. 250-807-9291; email equity.ubco@ubc.ca
Web: www.ubc.ca/okanagan/equity
The List of Equity Representatives:
http://www.ubc.ca/okanagan/equity/programs/equityreps/unitcontacts.html
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© Dr. Noriko Ozawa. Not to be copied, used, or revised without express written permission from the copyright owner.
Unit 8, Economics
UBC Okanagan
How to access your Aplia course
Course Name: Principles of Microeconomics, 2012/13W Term 2
Instructor: Noriko Ozawa
Start Date: 01/09/2012
Course Key: F2MD-QD3V-MEYL
Registration
1.
2.
Connect to http://login.nelsonbrain.com.
If you already have an account, sign in. From your Dashboard, enter your course key (F2MDQD3V-MEYL) in the box provided, and click the Register button.
If you don't have an account, click the Create an Account button, and enter your course key
when prompted: F2MD-QD3V-MEYL. Continue to follow the on-screen instructions.
 Video tutorial showing students how to register their access code:
http://www.youtube.com/watch?v=l4be3m4J2s&feature=autoplay&list=UU8kLZPhfvlBnu2QXnHBvzmQ&playnext=1
Purchase Options
Option 1: Buy Aplia access card alone online at the price of $90.95
• Aplia access card gives you access to your on-line assignments and the subscription of digital copy
of the text for the duration of this course.
 Here is the link to the NelsonBrain website:
http://www.nelsonbrain.com/shop/isbn/9780176502416
Choose Aplia Instant Access Cord (6mths) for Principles of Microeconomics, 5th Edition
located at the left bottom corner of the screen. (ISBN-10: 0-17-665113-6 , ISBN-13: 978-0-17665113-8)
Option 2: Buy the course package at the price of $143.95. (Recommended)
• The package includes Aplia access card, a hard copy of the text and the study guide.
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