Econ 101. Economic Principles.
Duke University
Department of Economics
Summer Term I, 2015
Instructor: Ekaterina Roshchina
E-mail: ekaterina.roshchina@duke.edu
Office: 2106 Campus Drive, Room 201
Office Hours: T/Th, 11am–12pm, Grad Lounge (SocSci, 3rd floor)
Textbook: “Economics” by Michael Parkin, 11th edition
Website: Sakai course site
Class: MTWThF, 9:30–10:45am, Social Sciences 119
Course Objective: This course provides an introduction to both microeconomics, which
studies the individual consumers and firms, and macroeconomics, which studies the economy as a whole. The purpose of the course is to give you a basic understanding of the core
economic principles. By the end of the course you should be able to:
• Understand and comfortably use the basic terms and concepts of economics.
• Analyze issues thinking like an economist, e.g. in terms of tradeoffs, marginal costs
and benefits, incentives, etc.
• Apply economic methods to analyze real world situations, e.g. to predict or evaluate
the effects of government policies.
• Apply your knowledge of decision making and economic interactions to evaluate normative statements.
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Grading:
Homework (5%): There will be a weekly homework assignment. The assignments
are due on the due date at the beginning of class. Each assignment will be checked
and graded based on completeness. I’ll post solutions on Sakai that evening and it is
your job to go over your own work. Feel free to work in groups of up to three. If you
do, please turn in one assignment per group (with the name of all group members on
top).
Quizzes (6% each, 18% total): There will be three quizzes that closely resemble
one of the questions on the previous homework. These will be graded for correctness.
Exams (36% each, 72% total): There will be 2 exams (Micro topics and Macro
topics) and an optional comprehensive final exam. If you decide to take the final, it
will replace your lowest exam grade. If you miss an exam for any reason you MUST
take the final exam. There are NO makeup exams.
Attendance/Participation (5%): Attendance is mandatory and participation is encouraged
Re-grade Requests: You may resubmit your quiz or midterm with an additional sheet
explaining in a few words why you deserve a better grade. Remember, you are graded
based on what you put down on your paper, NOT what you know. Re-grade requests are
accepted for one week after the graded test is returned.
Absence and Late Work Policy: Attendance in mandatory and counts towards 5% of
your grade; however, I understand that occasionally things come up. If you are truly incapacitated and cannot come to class due to illness, please complete a Short Term Illness
Notification Form and submit it before the beginning of the class that will be missed, in
this case you will be able to turn in any assignments or make-up any quizzes the following
day (No make-ups for exams). If you know in advance you will be absent on the day an
assignment is due or there is an exam or quiz, let me know and we can arrange (at my
discretion) for you to take the quiz/exam or turn in the assignment early. Any late work
will automatically lose 10 points for every day that it is late (starting with after class on the
due date). No late work will be accepted 3 days after the due date.
Academic Resource Center: Students with disabilities who desire special arrangements
are asked to go through the Program for Students with Disabilities and should contact the
Academic Resource Center (919-684-5917 or http://www.duke.edu/arc/). You may also
refer to ARC for peer tutoring services. The material in this course is cumulative, so I
encourage you to seek help as soon as you begin to have difficulties.
Computers and Cell Phones: No computers are allowed in class. I reserve the right
to answer any cell phone that rings during class or read aloud any text messages sent or
received.
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Cheating: Will not be tolerated. Students found to be cheating or facilitating cheating will
be referred to the appropriate authorities. Remember, you are subject to the Duke honor
code.
Tentative Course Outline:
Week
Date
Topic
1
5/13
5/14
5/15
Introduction
Production Possibilities
Supply and Demand
2
5/18
5/19
5/20
5/21
5/22
Elasticity
Consumer and Producer Surplus
Government Actions in Markets
Global Markets in Action
Economic and Accounting Profit
Ch.
Ch.
Ch.
Ch.
Ch.
4
5
6
7
10
5/25
5/26
5/27
5/28
5/29
NO CLASS (MEMORIAL DAY)
Output and Costs
Perfect Competition
Monopoly
Oligopoly
Ch.
Ch.
Ch.
Ch.
11
12
13
15
3
Reading
Assignment due
Ch. 1
Ch. 2
Ch. 3
HW 1
QUIZ 1
HW2
QUIZ 2
4
6/1
6/2
6/3
6/4
6/5
Externalities
Ch. 16
Review
Exam 1
Measuring GDP and Economic Growth Ch. 21
Unemployment & Inflation
Ch. 22
HW3
5
6/8
6/9
6/10
6/11
6/12
Aggregate Demand/ Aggregate Supply
Keynesian Expenditure Model
(continued)
Money and Financial Markets
Monetary Policy
HW4
6
6/15
6/16
6/17
6/18
6/19
Economic Growth
Finance, Savings and Investment
Fiscal Policy
Exchange Rates
Review
7
6/22
6/23
6/25
Exam 2
Reading Day
Final Exam
Ch. 27
Ch. 28
QUIZ 3
Ch. 25
Ch. 31
Ch.
Ch.
Ch.
Ch.
23
24
30
26
HW5
9am-12pm
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