Fundamentals of Microeconomics
ECON 101
Fall 2010
Professor: Gregmar I. Galinato
Email: ggalinato@wsu.edu
Phone: 335-6382
Teaching Assistant: Scott Peterson
Email: peterson7@wsu.edu
Class Room: JSHN C107
Office: Hulbert Hall 203C
Hours: T, TH 4:10pm – 5:10pm
or by appointment
Office: Hulbert Hall 105F
Hours: M,W 4:30-5:30pm
or by appointment
Class Webpage: http://classes.ses.wsu.edu/EconS101/Fall2010-Galinato/index.htm
Course Overview
This class will focus on decision making in markets. We will discuss theories and policies of
human responses to scarcity; how this affects business competition, international trade, industrial
organization, investment, and income distribution.
Prerequisites: High school algebra and graphing skills.
Required Text:
Microeconomics. Paul Krugman and Robin Wells. 2009. Worth Publishers with Aplia. You may
purchase the book bundled with the Aplia software in a bookstore OR you may register with
Aplia and have access to Aplia and a virtual copy of the text. The virtual copy of the text may be
downloaded to your computer and printed on your printer. DO NOT purchase the bundled book
and also pay to register with Aplia. See page 5 for registration instructions.
Course Content Objectives:
1. Provide a detailed introduction to the economic principles appropriate for firm, consumer
and market-level decision-making and management. More specifically students will
learn to:
a. Identify the basic terminology of microeconomics
b. Apply the concepts of choice and opportunity cost to basic situations involving
scarcity and clearly identify feasible choices
c. Understand how markets operate and be able to identify welfare outcomes for
consumers and firms.
d. Understand how different market structures, firm technologies and economic and
social policies affect market equilibrium and welfare outcomes.
2. Utilize these formal principles in practical applications.
3. Develop economic skills and understanding to excel in advanced EconS, business and
related courses and to appropriately apply economic thinking to real world situations.
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Course Learning Outcomes Objectives:
1. Improve quantitative and symbolic reasoning by representing economic principles in
mathematical equations and graphical settings.
2. Develop creative and critical thinking skills by applying economic concepts to real world
situations.
3. Allow students the opportunity to communicate their economic analysis in verbal,
written, and mathematical formats.
Grading:
3 in-class comprehensive exams
Final comprehensive exam
Problem sets
Class Participation
40%
30%
20%
10%
Exams:
There will be three cumulative in-class exams and a final exam. The 3 exams will account for
40% of the final grade while the final exam is comprehensive and worth 30% of the final grade.
The lowest score for Exam 1, Exam 2 and Exam 3 will be automatically dropped. No make up
exams will be given. If you miss one exam, this will be considered your lowest score. If you
miss two or all exams, the weight of the Final Exam will be adjusted accordingly. Hence, if you
miss two exams, your Final Exam will be worth 50% of your grade and if you miss all exams,
your Final exam will be worth 70%. No early nor make up Final Exam will be afforded.
Problem Sets:
All students are required to register in the Aplia webpage in order to answer problem sets (see
page 5 for more detail). Problem sets are worth 20% of the final grade. The two lowest problem
sets scores will be excluded from the final grade. Problem sets will be completed and submitted
on Aplia by the due date on Wednesday 11:45pm. No late work will be accepted. Completing
and reviewing the problem sets are important in preparing for the exam.
Class participation:
Instead of taking attendance, I prefer to give pop quizzes. Pop quizzes will occur during the start
of the class. No make up pop quizzes will be given. If you miss a pop quiz, you can make it up
by answering questions I raise in class. Each correctly answered question will erase your lowest
pop quiz score and will be replaced with a perfect score.
Grade Determination:
A letter grade will be assigned at the end of the semester based on points accumulated in class.
The grading schedule is subject to change. A tentative grading schedule is
A range:
90-100%; B range: 80-89% ; C range:
70-79% ;
60-69%; F range: less than 60%
D range:
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Course Outline and Readings:
Week
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
Final Exam: TBA
Topic
First Principles
Economic Models and Trade-offs
Graphs in Economics
Supply and Demand
Price Controls, Taxes and Efficiency
Elasticity
EXAM 1
Consumer and Producer Surplus
Decision Making at the Margin
The Rational Consumer
Consumer Preferences and Choice
EXAM 2
Inputs and Costs
Perfect Competition
Monopoly
Oligopoly
EXAM 3
Monopolistic Competition
Externalities
Readings
Introduction and Chapter 1
Chapter 2
Chapter 2 Appendix
Chapter 3
Chapter 5 and 7
Chapter 6
Chapter 4
Chapter 9
Chapter 10
Chapter 11
Chapter 12
Chapter 13
Chapter 14
Chapter 15
Chapter 16
Chapter 17
Informal Recitation Section
Scott Peterson will be holding an informal recitation section starting on the second week of
classes in a room TBA. In this environment, students can ask her questions regarding the
previous week’s problem set answers or questions regarding the upcoming problem set. She will
also answer questions regarding the lecture. Attendance is not required. The room will be
announced in classed.
Disability Statement
Reasonable accommodations are available for students with a documented disability. If you
have a disability and may need accommodations to fully participate in this class, please visit the
Disability Resource Center (DRC). All accommodations MUST be approved through the DRC
(Washington Building, Room 217). Please stop by or call 509-335-3417 to make an appointment
with a disability specialist http://www.drc.wsu.edu.
WSU's Academic Integrity Statement*
"As an institution of higher education, Washington State University is committed to principles of
truth and academic honesty. All members of the University community share the responsibility
for maintaining and supporting these principles. When a student enrolls in Washington State
University, the student assumes an obligation to pursue academic endeavors in a manner
consistent with the standards of academic integrity adopted by the University. To maintain the
academic integrity of the community, the University cannot tolerate acts of academic dishonesty
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including any forms of cheating, plagiarism, or fabrication. Washington State University reserves
the right and the power to discipline or to exclude students who engage in academic dishonesty."
*Can be found on page 136 of current WSU Spokane Student Handbook.
Academic Integrity Statement and link to WSU’s policy
www.conduct.wsu.edu/default.asp?PageID=343
www.wsulibs.wsu.edu/plagiarism/main.html
WSU Safety Procedures
http://safetyplan.wsu.edu
http://oem.wsu.edu/emergencies
http://alert.wsu.edu
Disclaimer:
This syllabus is subject to change to facilitate instructional and/or student needs.
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How to access your Aplia course
Economics 101
Instructor: Greg Galinato
Start Date: 08/23/2010
Course Key: R3MR-TPL4-L3W8
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 on Aplia through the end of this
course.
Registration
1. Connect to http://www.aplia.com.
2. If you already have an account, sign in. Go to your My Courses page, and click the Enroll in a
New Course button.
If you don't have an account, click the Create a New Account button, and choose Student
Account.
3. Enter your Course Key when prompted: R3MR-TPL4-L3W8. Continue to follow the on-screen
instructions to access your course.
Payment
After you register for your course, you will have a variety of payment options. If you choose to pay
later, you can use Aplia without paying until 11:59 PM on 09/12/2010.
Option 1: Digital Textbook with Aplia Access
• From Aplia: Purchase access to your course from the Aplia website for US$80.00.
• From Bookstore: Purchase an Aplia Access Card from your campus bookstore.
Option 2: Physical Textbook with Aplia Access (also includes digital textbook)
• From Aplia: Purchase access to your course for US$80.00 on the Aplia website, and then
purchase a physical book at a discounted price from Aplia's website.
• From Bookstore: Purchase a physical book bundled with an Aplia Access Card from your
campus bookstore.
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