Economics 211
Fall 2015
Marietta College
Dr. Delemeester
SYLLABUS
Course:
Office Hours:
Cell:
Email:
Social Media:
Course Web Pages:
Principles of Microeconomics
MTWT 2:00-3:00pm
740-516-1400 (you can text me if you like)
greg.delemeester@marietta.edu
Twitter: @delemeester
Aplia page (see below)
http://www.marietta.edu/~delemeeg/econ211
Prerequisite
Knowledge of some basic algebraic and graphical techniques will go a long way to help you understand the economic way
of thinking. Consequently, you must have achieved a score of 400+ on the math portion of the SAT or 19+ on the math
portion of the ACT or completed Math 080 with a grade of "C" or better. To judge your math readiness I have created an
Aplia Math Skills Test. If you do not score at least 62 out of the 89 points available, I suggest you drop the course and take
Math 080.
Course Description and Objectives
Economics is the study of how individuals and societies make rational choices when confronted with scarce resources and
an uncertain environment. As a social science, economics provides a rigorous framework in which to organize observed
economic phenomena so that we may come to some understanding of the world about us. Economics is divided into two
branches: microeconomics and macroeconomics. Microeconomics is concerned with how individuals and firms make
decisions within the context of an isolated market. Macroeconomics, on the other hand, is concerned with how the
economy as a whole behaves over time.
This course is about microeconomics. During this semester you will be introduced to the mechanics of a market economy.
You will learn how and why markets may "work" well and not so well. You will also learn about the impact of government
intervention on market processes. For example, we will investigate several contentious policy issues from an economic
point-of-view including drug prohibition, minimum wages, and environmental pollution. Above all else, I hope that you
come away from this course with a useful framework for which to make some sense out of this world. With that said,
upon completing this course you should be able to:
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understand the role of markets in allocating scarce resources.
o Be able to apply the supply and demand model to news events
o Be able to apply marginal analysis to everyday life
understand the impact of government intervention in the market
understand discussions involving business and politics.
Text/Websites
We will be using Principles of Microeconomics (South-Western, 2012, 6e) by N. Gregory Mankiw. The textbook is housed
as an e-text through Aplia.
The Aplia web site will be used for online readings, homework, tutorial videos, and exams. Details on Aplia are found
below.
Course Requirements and Policies
1. Exams. There will be four exams. Only your best three scores will count toward your final grade. Exams will be a
mixture of multiple choice and short analytical problems.
2. Homework. There will be 12 graded Aplia homework assignments—one for each chapter that will be
covered. The Aplia problem sets use a “Grade It Now” system (see below for a description). There will be
additional in-class assignments from time-to-time. Only your best n-2 scores will count toward your final grade.
[Note: In sending documents to me via email, please name your files so as to identify the project and yourself.
Example: econ211_homework1_delemeester.doc].
3. Extra Credit. Extra credit may be earned for attendance at, and summary of, talks given by visiting speakers on
campus. Details will be announced in class.
4. Class Attendance and Participation. As a rational adult, you have the ability to weigh the benefits and costs of
attending class. However, as an adult, you should view attendance as part of your job. An active learning approach
is essential to doing well in this course. Consequently, you should expect to actively ask and answer questions
during class. Moreover, your participation is likely to create a positive externality for your fellow students. Finally,
if you do decide to attend class, I expect you to be in your seat at the top of the hour—latecomers will be frowned
upon.
5. Technology. Cell phones must be turned off (or muted) and stored away during class unless otherwise authorized.
Laptop computers are permitted for note-taking but users must sit in the last row of the classroom. Only nonprogrammable calculators are allowed during exams.
6. Academic dishonesty is a breach of the trust that the instructor and your fellow classmates place in you and will
not be tolerated. Academic dishonesty includes cheating, plagiarism, theft, or improper manipulation of
laboratory or research data or theft of services. A substantiated case of academic dishonesty may result in
disciplinary action, including a failing grade on the project, a failing grade in the course, or expulsion from the
College" (Marietta College Undergraduate Programs, 2015-2016 Catalog). All suspected cases will follow the
procedures outlined in the Marietta College Catalog. Copyright violations are also quite serious breaches of the
law. Please visit the MC copyright tips page (http://library.marietta.edu/services/faculty/copyright_tips.html) for
further details.
7. Academic support services and resources are available at Marietta College's Academic Resource Center (ARC)
located on the third floor of Andrews Hall.
8. Students with documented disabilities should notify the instructor and the Academic Resource Center to discuss
their individual needs for accommodation in a timely manner.
9. Co-curricular probation for those on academic probation is in effect. Please refer to the college catalog for details
(Marietta College Undergraduate Programs, 2015-2016 Catalog).
10. Your grade will be determined as follows:
Grades are allocated as follows:
Exams (average of your best 3 scores)
Homework (average of your best n-2
scores)
Grades will be assigned according to the following plus/minus system,
using standard rounding methods:
75%
25%
Grade
A+ A A- B+ B B- C+ C C- D+ D D- F
==>
Percent 97 93- 90- 87- 83- 80- 77- 73- 70- 67- 63- 6059Score + 96 92 89 86 82 79 76 72 69 66 62
Responsibilities
I see my primary responsibility to lead, guide, and motivate a group of committed and dedicated students in the learning
process, and to determine the extent to which students have mastered the material covered in this course. I am committed
to this task. By signing up for this course, you have accepted the responsibility of being an active learner. Most importantly,
students are expected to be committed to learning the subject matter. If you are not open to new ideas, or are not
committed, expect your grade to reflect this.
How to access your Aplia course
Principles of Microeconomics Fall 2015
Instructor: Greg Delemeester
Start Date: 08/22/2015
What is Aplia?
In just 10 years, more than one billion answers have been submitted through Aplia, the premier online
assignment solution. Millions of students use Aplia to better prepare for class and for their exams. Join
them today!
Registration
1. Connect to http://login.cengagebrain.com/course/RDHS-X56M-2TMS
2. Follow the prompts to register for your Aplia course.
Payment
After registering for your course, you will need to pay for access using one of the options below:
Online: You can pay online using a credit or debit card, or PayPal.
Free Trial: You can access Aplia until 11:59 PM on 09/11/2015 during your free trial. After the free trial
ends you will be required to pay for access.
Please note: At the end of the free trial period, your course access will be suspended until your payment
has been made. All your scores and course activity will be saved and will be available to you after you
pay for access.
If you already registered an access code or bought Aplia online, the course key to register for this course
is: RDHS-X56M-2TMS
Aplia Grade It Now assignments:
Upon completion of a page of questions, you have two options: you can save your work and continue on to the next
page of questions, or you can request immediate feedback by clicking “Grade It Now.” This will display which questions
on the page were answered correctly and incorrectly, with detailed explanations for each question.
If you are happy with your scores, you can continue on to the next page of questions in the problem set. If you think you
can improve your score after reading the feedback, you can make another attempt by clicking the “Try Another Version”
button. This allows you to attempt a new page of questions covering the same concept, but using different examples
and/or numbers.
You can attempt a given page of questions up to three times. The final score reported in the gradebook will be an
average of the points received on each attempt. By making your score an average of each attempt, you are motivated to
give each attempt your best shot, rather than blindly guessing until you receive a satisfactory score.
Course Outline for Fall 2015
Section
Chapters
1
1, 2, 3
2
4, 6, 7
3
5, 13, 14
4
15, 10, 11
Topics
Introduction to Economic Models
Marginal Analysis
PPF Model & Comparative Advantage
Market Model
Consumer and Producer Surplus
Government Intervention
Elasticity
Production
Competitive Markets
Monopoly
Externalities
Public Goods
Events
3 graded Aplia assignments
Exam 1: September 11
3 graded Aplia assignments
Exam 2: October 9
3 graded Aplia assignments
Exam 3: November 2
3 graded Aplia assignments
Exam 4: December 8 (8:30am)
YouTube Videos
The following links are to various YouTube videos that illustrate or discuss many of the topics that will be covered in this course. The
videos should be viewed as a complement to (not a substitute for) the Mankiw text. Most of the videos are from Dr. Mary J.
McGlasson of Chandler-Gilbert Community College and are denoted by MJM. A few other videos are from Marginal Revolution
University by Alex Tabarrok and Tyler Cowen and are denoted MRU. The videos are generally listed in order as the topics are
presented in the Mankiw text.
The videos are also available on the Aplia website for our course under the Course Materials link.
If you find other videos that you think do a better job of explaining the economic concepts, please email the links.
Section 1
Section 3
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Price Elasticity of Demand [MJM]
Elasticity and the Total Revenue Test [ACDC Econ]
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Producer Theory [MJM]
Short Run vs Long Run Production [MJM]
Accounting Cost vs Economic Costs [MJM]
Fixed and Variable Costs [MJM]
Cost Curves [MJM]
Market Structures [MJM]
Perfect Competition [MJM]
Maximizing Profits [MJM]
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Graph Review [MJM]
Scarcity and Choice [MJM]
Resources [MJM]
Micro vs Macro [MJM]
Positive vs Normative Analysis [MJM]
Models and Theories [MJM]
Individual Production Possibilities [MJM]
Opportunity Cost [MJM]
Society’s PPF [MJM]
PPF and Resource Changes [MJM]
Comparative Advantage & Trade [MJM]
The Broken Window Fallacy
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Section 2
Section 4
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Market Prologue [MJM]
Demand [MJM]
Change in Demand vs Change in Quantity Demanded [MJM]
Supply [MJM]
Market Equilibrium [MJM]
Price Floors and Price Ceilings [MJM]
Finding Consumer Surplus and Producer Surplus Graphically
Deadweight Loss [MRU]
I, Pencil
Monopoly [MJM]
Deadweight Loss from Monopoly [MRU]
Price Discrimination [MRU]
Market Failures [MJM]
Externalities [MJM]
Externalities: When is a Potato Chip Not Just a Potato Chip?
Negative Externalities and the Coase Theorem
Public Goods [MJM]
Tragedy of the Commons