Course Syllabus AEB 3103
Fall 2013
University of Florida
Food and Resource Economics Department
AEB3103 – Principles of Food and Resource Economics
Fall 2013
Section: 2518 (4 credit hours)
Time: T
R
10:40-12:35
(4-5th periods)
Location: CSE (Computer Science Engineering ) E119
Instructor and Contact Information:
Instructor:
Office:
Maria Bampasidou
1179 McCarty Hall A
Office Hours:
Monday and Wednesday 11-12;
Tuesday and Thursday 2-3;
Friday by appointment
E-mail:
mabampasidou@ufl.edu
Given other professional obligations this
term, availability outside of posted office
hours will be limited. However, feel free
to e-mail me to schedule an appointment.
E-mail is a preferable way to communicate with me outside office hours.
When e-mailing me, please start the subject line with AEB 3103.
Courteous and professional e-mails can expect a prompt reply. Please keep in mind that
it takes at least a day to answer e-mails so send yours in a timely fashion.
FRE Program Assistant:
Kathy Green; 1170 McCarty Hall A; (352) 294-7640
Email: kagreen1@ufl.edu
Undergraduate Adviser:
Anne Marie Mattison; McCarty Hall A; (352) 294-7638
Email: mattison@ufl.edu
Teaching Assistant:
Ayuba Seidu; 1172 McCarty Hall A
Office hours: Monday and Wednesday 10:45-12:45
Email: aseidu@ufl.edu
E-learning: There is an E-learning web-page for this course. To access E-learning you will need your
Gatorlink username and password. E-learning can be accessed via https://lss.at.ufl.edu/. Should you
have difficulties accessing E-learning, please contact UF Computing Help Desk directly by calling (352)392 HELP or via e-mail helpdesk@ufl.edu
Please note that the E-learning site might not be operational until the end of the first week of the
semester.
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Course Syllabus AEB 3103
Fall 2013
General Course Information:
Text: Microeconomics, 3rd Edition by Paul Krugman and Robin Wells. Worth Publishers
ISBN: 978-1-4292-8342-7

You will need a copy of the book

There will be hand-outs to be posted on-line. You are responsible for those.
Course description: An introduction to the field of food and resource economics, the principles of
economics as applied to agriculture, and the economic problems of the agricultural industry and the
individual farmer.
This course is a comprehensive microeconomic theory and applications course designed to give students
a strong foundation in economic theory. The economic concepts covered will form a solid structure
upon which further courses build.
This is NOT an agricultural course per se. Economic events and policies discussed in this course have
applications in politics, business, environment, labor, trade, and everyday lives. AEB 3103 will
thoroughly review the microeconomic fundamentals from consumer theory and consumer choices to
the theory of the firm and firms’ decisions. We will also cover market structure, agricultural production,
and current microeconomic topics.
Prerequisites: MAC2233 or MAC2311 or the equivalent. Students are expected to be familiar with
analyzing graphs and tables as well as being comfortable with quantitative reasoning and basic analytical
methods. Should you have any concerns please see me as soon as possible.
Course format and related issues: This is an upper-division analytical core course for the Food and
Resource Economics major. The course will be based on lectures where main theories, frameworks, and
models will be presented in class followed by discussion sessions and applications.
Due to the nature and the quantity of material covered, missing the class will negatively impact your
performance in this course. Formal attendance will be taken and students are expected to arrive in class
on time. Class will promptly start at 12:50. Please see also the “Professional Etiquette” section on the
syllabus.
Reading your textbook and the lecture notes is imperative to benefit the most out of the course. In
addition, students may be assigned readings from current periodicals as they become available. You will
be notified about the handouts in class and through e-mail.
You should expect to study a minimum of 2 hours/credit to cover and comprehend course material.
During exam weeks the time-commitment will be significantly higher.
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Course Syllabus AEB 3103
Fall 2013
Course Outline
Course Modules and Outline:
(A) Scope and Methods of Modern Economics
This introductory module will focus on the basic principles in economics summarizing key
concepts and exposing students to economic questions.
Introduction:
Chapter 1:
Chapter 2:
The Ordinary Business of Life
First Principles
Economic Models: Trade Offs and Trade--Appendix
(B) Markets and Price Formation: Supply and Demand
This core module focuses on the key concepts of supply and demand and builds upon them to
present market equilibria, consumer and producer surplus, and how changes in supply and
demand affect marker equilibria.
Chapter 3:
Chapter 4:
Chapter 5:
Chapter 6:
Supply and Demand
Consumer and Producer Surplus
Price Controls and Quotas: Meddling with Markets
Elasticity
(C) Economic Analysis of Decision Making
A brief chapter analyzing consumer choices, incentives, and demand
Chapter 10:
The Rational Consumer
(D) Economic Analysis of the Firm and Firm Behavior
This core module emphasizes market structure. Main focus is the firm and its optimization
techniques, and how firms interact in different market structures.
Chapter 11:
Chapter 12:
Chapter 13:
Chapter 15:
Chapter 14:
Behind the Supply Curve: Inputs and Costs
Perfect Competition and the Supply Curve
Monopoly
Monopolistic Competition and Product Differentiation
Oligopoly (pp. 407-413)
(E) Extensions (depending time)
This module will cover some main extensions of microeconomic theory. Focus will be given in
game theory and policy implications.
Game Theory: Handout and Chapter 14 (pp. 414-420)
Oligopoly and Monopolistic competition Cases: Handout and Chapter 14 (pp. 420-428)
Extra topics: Handout (labor market, externalities, trade)
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Course Syllabus AEB 3103
Fall 2013
Suggested Exercises
The following suggested exercises can be found at the end of the specified chapter. Students are advised
to work on these problems and also use them as a review of the respective chapter. You could work
individually or as a group, this type of cooperative learning is encouraged; however be sure to have a
thorough understanding of the concepts to ensure that you could work through the problems on your
own.
These exercises are NOT to be turned in for credit; you could find their solutions under the “Suggested
Exercises Solutions” tab on E-learning.
Chapter
Chapter 1
Chapter 2
Chapter 3
Chapter 4
Chapter 5
Chapter 6
Chapter 10
Chapter 11
Chapter 12
Chapter 13
Chapter 15
Chapter 14
Suggested Questions and Problems
1, 2, 4, 5, 7, 9
1, 2, 3, 4, 5, 6, 11, 14
1, 2, 3, 4, 6, 7, 8, 11, 17
1, 3, 7, 8
2, 3, 4, 6, 8, 10, 11
1, 2, 3, 4, 5, 6, 9, 14, 17
2, 5, 7, 9, 15
2, 5, 7, 8, 10, 13, 16
1, 3, 4, 5, 11, 12
3, 4, 6, 10
3, 4, 5, 12
1, 3, 4, 5, 7, 9
Evaluation of Performance and Grading:
Grades: Your grade will be determined based on your performance on the exams administered during
the course. Your final grade for AEB3510 will be based on the following:
Grade components
Exam 1
Exam 2
Exam 3
In-class exams
(@ 90 points each)
Final Exam
Optional Final Exam
90 points
Assignments
The highest 4 scores from 6
assignments (@ 20 points each)
80 points
The highest 3 scores from 4
quizzes (@ 10 points each)
30 points
Quizzes
Attendance
Max Total:
270 points
20 random days (@ 1 point each)
20 points
400 points
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Course Syllabus AEB 3103
Fall 2013
Your course grade will be determined by the option that is more advantageous for you. Final course
grade will have the following benchmarks out of 400 possible grade points:
Letter
A
AB+
B
BC+
C
CD+
D
DE
Course Equivalent
above 372
360-371
348-359
332-347
320-331
308-319
292-307
280-291
268-279
252-267
240-251
Below 239
Notes
For general information about grading and grading policy at the University
of Florida, please refer to:
http://www.registrar.ufl.edu/catalog/policies/regulationgrades.html
Please note that grades are not “rounded” nor “adjusted” in any way at
the end of the term.
Exams: There will be three (3) in-class exams offered during the semester for AEB 3103. Each exam is
worth 90 points and will take place in the classroom. The exams will consist of multiple-choice, problemsolving and short answer questions. The exams may be based on material covered in class, material
from the book, or concepts implied by the material covered.
Each exam is scheduled for 90 minutes and will commence at 10:40am. The exam dates are specified in
this syllabus. Each exam will be based on specific sections covered in class within the specific timeperiod (i.e. no cumulative, though concepts are transferable and more than one ways to approach exam
questions may be possible). There will be no lecturing on exam days and class will consequently dismiss
after the completion of the exam.
The exams are closed book and closed notes. A simple calculator may be used. Not acceptable are the
following items: graphing calculators and calculators with more than one display row, cell phones,
touch-screen devices, or other devices with the capability of storing formulae.
Exam day policy: It is expected that all students are on-time to exams. Please arrive early, if possible, to
get seated and get your books/bags stowed away so that the exam can start on the stated-time. You
may leave the class after 20 minutes. NO ONE WILL BE ALLOWED TO ENTER THE CLASSROOM TO BEGIN
THE EXAM AFTER THE FIRST STUDENT HAS TURNED IN THEIR FINISHED EXAM.
In-class Exam dates:
Exam 1: Tuesday October 1st
Exam 2: Thursday October 31st
Exam 3: Tuesday November 26th
The instructor reserves the right to change these dates as appropriate. Any changes will be
communicated timely in class, via the UF e-mail list serve, and via E-learning. It is the student’s
responsibility to stay informed and updated of any changes.
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Course Syllabus AEB 3103
Final Exam Date:
Fall 2013
11 December 2013 (12/11/2013)
5:30-7:30pm at CSE E119
The final exam is optional and comprehensive. It will be given during the Final Exams week at the end of
the term. The final exam will cover material from the overall course and it is out of 90 points.
Importantly: There are NO “excused” exams. It is expected that you adequately and thoroughly prepare
for each one of them since they are counting towards your course grade. Should you miss any of the inclass exams, that exam score will be dropped and you will have a mandatory final. If you are
participating in a University of Florida sponsored event, you may make up a class exam only if you bring
your documentation to your instructor PRIOR to the event (at least 7 days prior to a scheduled exam).
Email documentation is NO LONGER enough. You need to bring a printed mail from the corresponding
event organizers or association.
Homework problems: Homework problems from the textbook or from the handouts will be assigned at
a regular basis throughout the semester. There will be 6 assignments turned in for credit each worth 20
points. They are assigned to assist you in learning the material and are highly related to exam questions
and hence to your performance in the course. The 2 lowest scores will be dropped, so a total of 80
possible points will count towards your course grade. Students will be notified in a timely manner
regarding the deadlines of the assignments through E-learning and e-mail. These are individual
assignments and will be treated as such! Assignments are due before class starts. Since you are allowed
to drop 2 assignments late submission is not accepted though early submission is encouraged.
Homework Problems
HW1
HW2
HW3
HW4
HW5
HW6
Assigned Date
29th August
5th September
17th September
8th October
17th October
12th November
Due Date
5th September
17th September
26th September
17th October
29th October
21st November
Note that the due dates may be subject to change depending on the material covered in class.
Quizzes: There will be 4 quizzes administered during class-time. Three out of four quizzes will count
towards your grade, each out of 10 points. Each quiz is scheduled for 10 to 15’ and will be in a multiplechoice and/or short answer questions format. Students will be notified timely for a quiz.
NOTE THAT: Exams/Assignments/Quizzes will be returned to you in class and grades will be posted in a
timely-fashion on E-learning. You must retain all returned papers in case on any discrepancy with your
course grade. We cannot correct any mistakes in grading or recording of scores without the original
document.
IMPORTANTLY! You have 7 days after the grade has been posted to voice your concern. Should you
believe that your exam/assignment/quiz is incorrectly graded or that your grade is incorrectly posted,
please contact me via e-mail as soon as possible. After the 7 days have passed, your posted grade will be
assumed to be correct and accurate.
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Course Syllabus AEB 3103
Fall 2013
Attendance: Students are expected to attend class and to be in class on-time. Given the nature and the
quantity of material covered in class, regular attendance is a pre-requisite for performing well in this
course. Attendance will be taken on 22 random attendance days by distributing attendance quizzes and
each quiz is worth 1 point. Only 20 of the 22 will count towards your course grade. If you leave early
from class, you will receive only half point. Should you miss a class please notify through email before
the class.
Professional Etiquette: The following guidelines are expected to be followed in order to have a
productive classroom environment.
 CELLULAR PHONES are expected to be turned off. No texting or any other use of cellular phones
is permitted or tolerated in class. So please take a moment to turn-off your devices before the
class begins. You should also discontinue the use of any iPods, Blackberries or similar devices.
 Students are expected to arrive on-time for class.
 You should avoid talking amongst each other once the lecture begins unless otherwise stated
(i.e. part of a classroom-activity/assignment). If you have any questions during class, please
raise your hand and I will be happy to address any concerns you may have.
 You should not read other course material or any type of newspaper during the class.
If you cannot abide by these simple courtesy rules you will be asked to leave the classroom. I reserve the
right to penalize any student violating these rules by deducting points from your final course grade or
dropping you from the class roaster.
Supplemental Information:
Students requesting classroom accommodation: The Disability Resource Center (DRC) coordinates the
needed accommodations of students with disabilities. This includes registering disabilities,
recommending academic accommodations within the classroom, accessing special adaptive computer
equipment, providing interpretation services and mediating faculty-student disability related issues.
Please contact office 0020 Reid Hall (tel: (352) 392-8565), www.dso.ufl.edu/drc . Any student requesting
accommodation will have to provide documentation from the DRC.
"Students requesting classroom accommodation must first register with the Dean of Students Office.
The Dean of Students Office will provide documentation to the student who must then provide this
documentation to the Instructor when requesting accommodation."
Request for academic accommodations need to be made during the first week of the semester, except
for unusual circumstance, so please arrange to meet with me as soon as possible.
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Course Syllabus AEB 3103
Fall 2013
Course Evaluation Process:
“Students are expected to provide feedback on the quality of instruction in this course based on 10
criteria. These evaluations are conducted online at https://evaluations.ufl.edu
Evaluations are typically open during the last two or three weeks of the semester, but students will be
given specific times when they are open. Summary results of these assessments are available to
students at https://evaluations.ufl.edu/results.”
UF Supporting Services: College life can sometimes being overwhelming. Resources are available oncampus to help students manage personal issues or gain insight into career and academic goals. Some of
them are:





Counseling and Wellness Center : http://www.counseling.ufl.edu/cwc/
Student Health Care Center: http://shcc.ufl.edu/
Career Resource Center: http://www.crc.ufl.edu/
Dean of Students Office: http://www.dso.ufl.edu/
For a full list of services please see https://catalog.ufl.edu/ugrad/current/support/info/studentservices.aspx#SA
Academic Honesty: Academic dishonesty is defined as any behavior, active or passive, which attempts
to subvert the legitimate teaching, learning, or testing of a subject. It includes, but is not limited to the
following:
- cheating on an examination, using notes or other methods;
- assisting or allowing another student to cheat on an examination;
- submission of work that is not the authentic creation of the student (plagiarism, use of purchased term
papers, etc.);
- providing false excuses for missing a scheduled examination;
- enabling the cheating or other academic dishonesty of another student;
- altering an examination after it has been graded to claim a better grade is deserved;
- obtaining examinations in advance of the scheduled exam, unless offered by the professor;
Please remember that you committed yourself to academic honesty when you registered at the
University of Florida by signing the statement:
"I understand that the University of Florida expects its students to be honest in all of their academic
work. I agree to adhere to this commitment to academic honesty and understand that my failure to
comply with the commitment may result in disciplinary action, up to and including expulsion from the
University."
The penalty for any incidence of academic dishonesty is, as a minimum, a failing grade on the
examination or assignment. If, in the professor’s opinion, the offense deserves a more severe penalty,
failure in the course may be the imposed penalty. In particularly egregious cases, the professor may ask
the College to dismiss the student and refuse the student further enrollment rights at the College.
It is in your best interests to avoid even the appearance of any questionable behavior.
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Course Syllabus AEB 3103
Important Dates:
Fall 2013
August 21
August 27
August 30
September 2
September 13
October 1
October 31
November 8—9
November 11
November 26
November 27—30
December 4
December 11
Classes Begin
Last day to Drop
Fee Payments
Labor Day—no classes
Degree Applications
Exam 1
Exam 2
Homecoming—no classes
Veterans day—no classes
Exam 3
Thanksgiving—no classes
Classes End
Final Exam
By enrolling in this course you are agreeing to the terms outlined in this syllabus.
Please see me should you have any questions.
Let’s experience a rewarding and productive semester!
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