Rochester Institute of Technology
Department of Economics
Principles of Microeconomics (ECON-101)
Fall 2015
Course Syllabus
Instructor: Dr. Ye Wang
Office: College of Liberal Arts Building (Bldg. 6), Room A202 (lower level)
Office Hour: Monday and Wednesday, 10:00-11:30am and by appointment
Email: yxwbbu@rit.edu
Course Description
The course studies the working of individual markets. It emphasizes the application of
microeconomic theories to examine the behavior of consumers and producers, and explore how
their behavior and the level of market competition influences market outcomes. The teaching
goal for this term is two-fold. Firstly, I would like to introduce the language of microeconomics.
Then, with this language in hand, we shall turn our attention to analyzing alternative economic
policy choices, the outcomes of which have direct implications for our personal and national
standards of living.
Reading Materials
Microeconomics (12th Edition, ISBN 978-0-13-387227-9) by Michael Parkin.
Class notes are crucial for the class, with a supplement of slides.
Grades
Evaluation
Homework
20%
Exam I
15%
Exam II
20%
Exam III
20%
Final Exam
25%
There will be ten homework assignments throughout the semester, which are strongly related to
class examples and practice problems. I will count the best eight of the ten as your homework
grade. The assignments include either multiple choices or written problems (short answers,
graphical and numerical problems) or both. The assignments will be either posted on MyCourses
or handed out in class. Be sure that you check MyCourses regularly. Please note that I cannot
accept late assignments. If you are unable to submit your homework in class on due day, I am
pleased to accept your assignments either in my office before 3pm or by email (as a Word or
PDF attachment) by 3pm on due day.
There are three exams and a final exam. Of the three exams, Exam I weighs 15% of your final
grade, Exam II and III weigh 20% each. Each exam includes several multiple choice questions,
short answers and one or two written problems. The exams strictly span the materials we discuss
in class. The first exam will be given in class after we finish Chapter 4; exam II will be given in
class and focus on the content of Chapters 5, 6 and 7; the third exam contains what we discuss in
Chapters 8, 10 and 11. The final exam is scheduled by the Institute for Friday, December 18. It
emphasizes the materials in the last four chapters we discuss.
Attendance is expected at every class unless you have an excuse that I judge as legitimate. If you
are unable to attend class, please inform me via email. No makeup exam is possible unless I hear
from you in advance and I determine that extraordinary circumstances dictate a makeup exam.
Grading Scale
Grading Scale
A
93-100
A-
90-92.99
B+
87-89.99
B
83-86.99
B-
80-82.99
C+
77-79.99
C
73-76.99
C-
70-72.99
D
60-69.99
F
0-59.99
Classroom Engagement
Please do participate in class; I am eager to gain your perspective on these materials. Cell
phones and pagers are a distraction and should be turned off during the class.
Academic Honesty Policy
Please review the RIT Academic Honesty Policy in the online RIT Policies and Procedures
Manual.
Course Outline
Chapter 1
What is Economics?
Chapter 3
Demand and Supply
Chapter 4
Elasticity
Chapter 5
Efficiency and Equity
Chapter 6
Government Actions in Markets
Chapter 7
Global Markets in Action
Chapter 8
Utility and Demand
Chapter 10
Organizing Production
Chapter 11
Output and Costs
Chapter 12
Perfect Competition
Chapter 13
Monopoly
Chapter 14
Monopolistic Competition
Chapter 15
Oligopoly