Economics 002
Introductory Microeconomic Analysis and Policy
Fall 2009
Instructor:
Henry Check
Office:
Saucon 217–I
Office Hours:
Monday;
Monday;
Tuesday;
Wednesday;
Wednesday;
Thursday;
Friday;
10:00 AM to 11:00 AM
5:30 PM to 6:30 PM
3:30 PM to 4:30 PM
10:00 AM to 11:00 AM
5:30 PM to 6:30 PM
3:30 PM to 4:30 PM
10:00 AM to 11:00 AM
E-mail:
hfc3@psu.edu
(greatly preferred)
Office Phone:
610-285-5125
(always try e-mail first)
Course Description:
Methods of economic analysis and their use; economic aggregates; price
determination; theory of the firm; distribution.
Baseline Text:
Mankiw, N. Gregory, Principles of Microeconomics, Fifth Edition, SouthWestern Cengage Learning, Mason, Ohio, 2008, ISBN-10: 0-324-58998-0,
ISBN-13: 978-0-324-58998-6.
Evaluation:
Aplia Assignments ............................................ 50 points
Examinations (3) ............................................ 300 points
Final Examination .......................................... 150 points
Total Available .............................................. 500 points
Average Grade to Letter Grade Conversion:
93.0 % and above .................................................. A
90.0 % to 92.9 % ................................................... A –
87.0 % to 89.9 % ................................................... B +
83.0 % to 86.9 % ................................................... B
80.0 % to 82.9 % ................................................... B –
77.0 % to 79.9 % ................................................... C +
70.0 % to 76.9 % ................................................... C
60.0 % to 69.9 % ................................................... D
below 60.0 % ........................................................ F
1
(maximum)
Course Policies:
Many students find microeconomics to be an extremely "aggressive" topic. Microeconomics requires a
level of mathematical proficiency and an abstract conceptualization ability that few other courses demand.
Even if microeconomics itself had no real world relevance, the development of those mathematical and
conceptual skills would make the study of microeconomics worthwhile. These course policies are
designed to provide structure and discipline to your study habits. We all have many activities in our lives
which must take priority over this course or are simply lots more fun than doing microeconomics
homework. Some of these policies are admittedly childish; but my experience is that they are effective.
I'll happily appear childish if it helps you learn this material.
Attendance:
You are expected to attend all classes. We will be moving through the required material at a steady and
relentless pace. You will find that each chapter builds upon prior chapters and so missing a class will
leave a significant gap in your understanding of the material. If one of our classes is postponed due to
weather, we will simply slide that class's material to the following class meeting and make-up the
postponed class later in the semester.
Preparation:
You cannot be a passive participant in this course and expect to succeed. You are expected to read the
assigned chapters and review the Lecture Example Exercises before coming to class. The value of lecture
is greatly enhanced if you are familiar with the material before coming to class.
Aplia Assignments:
This course utilizes an on-line assignment manager called "Aplia." An Aplia subscription ($80.00) is
required of all students registered for the course. The subscription includes access to an electronic copy of
the baseline text and the opportunity to buy a hardcopy of the text at a reduced price ($45.00). Students
can print their Aplia assignments as well as pages from their electronic copy of the text. All Aplia
assignments, their point values, due dates and due times are available in Aplia at the beginning of the
course. There are a total of 700 points worth of assignments in Aplia, a maximum of 500 of which count
towards the student’s course grade, ten (10) Aplia points equaling one (1) point towards the student’s
course grade.
More on Aplia:
Our use of Aplia is somewhat experimental. I used Aplia in one of my courses over the summer. I felt
Aplia worked well for the students and feedback from the students was largely positive. Nevertheless, if
you encounter some specific problem with Aplia be sure to contact me.
One disadvantage of using Aplia is that, if you don’t buy the hardcopy baseline text, you will not have a
copy of the text after the course is over. You might want to buy a used, prior edition of the text from an
on-line book seller. The previous edition of our text is:
Mankiw, N. Gregory, Principles of Microeconomics, Fourth Edition, Thomson South-Western, Mason,
Ohio, 2007, ISBN- 10: 0-324-31916-9, ISBN-13: 978-0-324-31916-3.
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Senate Policy 49-20 ACADEMIC INTEGRITY:
Academic integrity is the pursuit of scholarly activity in an open, honest and responsible manner.
Academic integrity is a basic guiding principle for all academic activity at The Pennsylvania State
University, and all members of the University community are expected to act in accordance with this
principle. Consistent with this expectation, the University's Code of Conduct states that all students
should act with personal integrity, respect other students' dignity, rights and property, and help create and
maintain an environment in which all can succeed through their efforts. Academic integrity includes a
commitment not to engage in or tolerate acts of falsification, misrepresentation or deception. Such acts of
dishonesty violate the fundamental ethical principles of the University community and compromise the
worth of work completed by others.
Confidentiality:
You will notice that the new faculty work areas do not afford much in the way of privacy. If the need
arises for a conversation with me of a confidential/sensitive nature, please make an appointment with me
via e-mail and I will reserve a private conference room.
Note to students with disabilities:
Penn State welcomes students with disabilities into the University's educational programs. If you have a
disability-related need for modifications or reasonable accommodations in this course, please contact
Linda Rumfield in Disability Services, lmc113@psu.edu, 610-285-5124, Room 211 Saucon Building, as
early in the semester as possible.
Counseling services:
Counseling services from Alliance Counseling and Wellness Coaching are provided for students every
Wednesday 10:00 AM to 12:00 noon, and Thursday 12:00 noon to 2:00 PM. Students can meet with a
licensed counselor on campus in a private meeting room to discuss whatever is on their mind. To reserve
a time please contact Tiffany Creswell-Yeager, Director of Student Affairs, tjc8@psu.edu, 610-285-5021,
Room 214 Saucon Building.
Course Outline:
Date
Topic
Assignment
August 24
Ten Principles of Economics
Chapter 1
August 26
Thinking Like an Economist
Graphing: A Brief Review
Chapter 2
Appendix 2
August 28
Thinking Like an Economist
Graphing: A Brief Review
Chapter 2
Appendix 2
August 31
Thinking Like an Economist
Graphing: A Brief Review
Chapter 2
Appendix 2
September 2
Interdependence and the Gains from Trade
Chapter 3
3
Course Outline (continued):
Date
Topic
Assignment
September 4
Interdependence and the Gains from Trade
September 7
LABOR DAY HOLIDAY
September 9
Interdependence and the Gains from Trade
Chapter 3
September 11
The Market Forces of Supply and Demand
Chapter 4
September 14
The Market Forces of Supply and Demand
Chapter 4
September 16
The Market Forces of Supply and Demand
Chapter 4
September 18
Elasticity and Its Application
Chapter 5
September 21
Elasticity and Its Application
Chapter 5
September 23
Elasticity and Its Application
Chapter 5
September 25
Chapter 3
EXAMINATION 1 (Chapters 1 through 5, and Appendix 2)
September 28
Supply, Demand, and Government Policies
Chapter 6
September 30
Supply, Demand, and Government Policies
Chapter 6
October 2
Consumers, Producers, and the Efficiency of Markets
Chapter 7
October 5
Consumers, Producers, and the Efficiency of Markets
Chapter 7
October 7
Application: The Costs of Taxation
Chapter 8
October 9
Application: The Costs of Taxation
Chapter 8
October 12
Application: International Trade
Chapter 9
October 14
Application: International Trade
Chapter 9
October 16
Externalities
Chapter 10
October 19
Externalities
Chapter 10
October 21
Public Goods and Common Resources
Chapter 11
October 23
Public Goods and Common Resources
Chapter 11
October 26
The Design of the Tax System
Chapter 12
October 28
The Design of the Tax System
Chapter 12
4
Course Outline (continued):
Date
October 30
Topic
Assignment
EXAMINATION 2 (Chapters 6 through 12)
November 2
The Costs of Production
Chapter 13
November 4
The Costs of Production
Chapter 13
November 6
The Costs of Production
Chapter 13
November 9
Firms in Competitive Markets
Chapter 14
November 11
Firms in Competitive Markets
Chapter 14
November 13
Firms in Competitive Markets
Chapter 14
November 16
Monopoly
Chapter 15
November 18
Monopoly
Chapter 15
November 20
EXAMINATION 3 (Chapters 13 through 15)
November 23
THANKSGIVING HOLIDAY
November 25
THANKSGIVING HOLIDAY
November 27
THANKSGIVING HOLIDAY
November 30
Monopolistic Competition
Chapter 16
December 2
Monopolistic Competition
Chapter 16
December 4
Monopolistic Competition
Chapter 16
December 7
Oligopoly
Chapter 17
December 9
Oligopoly
Chapter 17
December 11
Oligopoly
Chapter 17
December ??
FINAL EXAMINATION (Chapters 16 and 17)
5
Student Registration and Payment Instructions
Course Name: Check, Microeconomics (Mankiw 5e) Fall 2009
Start Date: 08/24/2009
Instructor: Henry Check
Course Key: 6RJN-RKTG-RFCU
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 using Aplia.
Registration
If you have never used Aplia before...
1. Connect to http://www.aplia.com.
2. Click the New Student link and enter your Course Key: 6RJN-RKTG-RFCU. Continue following the
instructions to complete your registration.
If you have used Aplia before...
1. Connect to http://www.aplia.com.
2. Sign in with your usual e-mail address and password and enter your Course Key when prompted:
6RJN-RKTG-RFCU. If you are not prompted for a new Course Key, click the Enter Course Key
button to enroll in a new Aplia course. Enter your Course Key when you are prompted.
* You will have different payment options after you register for your course. If you choose to pay
later, you can use Aplia without paying until 11:59 PM on 09/13/2009.
Payment
Option 1: Digital Textbook with Aplia Access
• From Aplia: Purchase access to your course from Aplia's website for $80.00 USD.
Option 2: Physical Textbook with Aplia Access (also includes digital textbook)
• From Aplia: Purchase access to your course for $80.00 USD and a physical book for $45.00
USD from Aplia's website.
* You will have access to your digital textbook up until the end of this course.
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Lecture Example Exercises:
Chapter 1, pages 18-19, – Problems and Applications 4, 6, 7, 8, and 11
Chapter 2, pages 38-39 – Problems and Applications 2, 3, 5, and 6
Chapter 3, pages 61-62 – Problems and Applications 2, 3, 4, 5, 7, 9, and 10
Chapter 4, pages 87-88 – Problems and Applications 1, 2, 3, 5, 6, 7, 11, 14, and 15
Chapter 5, pages 110-111 – Problems and Applications 1, 2, 3, 6, 11, 12, 13, and 14
Chapter 6, pages 132-133 – Problems and Applications 3, 4, 7, 9, 11, and 13
Chapter 7, pages 155-157 – Problems and Applications 4, 5, 6, 8, and 10
Chapter 8, pages 173-175 – Problems and Applications 3, 5, 6, 10, 11, and 12
Chapter 9, pages 196-199 – Problems and Applications 3, 4, 8, 10, 12, and 13
Chapter 10, pages 221-223 – Problems and Applications 1, 2, 3, 7, 8, 12, and 13
Chapter 11, pages 238-240 – Problems and Applications 1, 2, 3, 4, 7, and 10
Chapter 12, pages 261-263 – Problems and Applications 4, 9, 10, 11, and 12
Chapter 13, pages 285-287 – Problems and Applications 1, 2, 3, 4, 5, 6, 7, 8, 10, 11, and 12
Chapter 14, pages 308-310 – Problems and Applications 1, 3, 4, 5, 7, 8, 9, 11, 13, and 14
Chapter 15, pages 339-343 – Problems and Applications 1, 2, 5, 6, 7, 9, 11, and 12
Chapter 16, pages 362-364 – Problems and Applications 3, 4, 5, 7, 9, and 10
Chapter 17, pages 385-388 – Problems and Applications 1, 3, 4, 5, 8, and 9
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