YORK UNIVERSITY
Department of Economics - Faculty of Arts
ECONOMICS AS/ECON 1000 D,E / 1010 P,Q
Introduction to Micro / Macroeconomics
Fall 2011 / Winter 2012
T, R, 2:30 - 4 ; ACE 102
Instructor:
Office:
Phone:
Office Hours:
Email:
George J.Georgopoulos
1080 Vari Hall
736-2100 ext. 30108
Just after class, or by appointment
georgop@yorku.ca only for non-course material correspondence
INTRODUCTION
"The Theory of Economics does not furnish a body of settled conclusions immediately applicable to policy.
It is a method rather than a doctrine, an apparatus of the mind, a technique of thinking which helps its possessor
to draw correct conclusions."
- John Maynard Keynes
The ECON 1000/1010 courses present a general overview of the subject matter of economics. The fall term will focus on
microeconomics -- the study of economics from the point of view of the individual consumer and the individual firm. The
winter term will address macroeconomics issues, taking the perspective of the economy as a whole.
REQUIRED COURSE MATERIALS
Economics: Canada in the Global Environment, 7th edition, by M. Parkin and R. Bade (Pearson, 2010),
[referred to as P/B in the assignments].
Study Guide (to accompany Economics), 7th edition, by A. Cohen and H. King, (Pearson, 2010).
MyEconLab (Pearson 2010)
•
•
•
A bundled Economics Textbook/Study Guide/MyEconLab package is available in the York bookstore . This includes both
microeconomics and macroeconomics, and is all you need for both ECON1000 and 1010.
MyEconLab is required for graded quizzes, so used textbooks are not likely to save you money, because you will also
have to purchase a license for MyEconLab.
If you are planning on only taking ECON 1000 (microeconomics only), you may purchase a bundled Microeconomics
Textbook/Study Guide/MyEconLab package (ISBN 0132469863) in the York bookstore.
• NOTE: You cannot sign in/register under a different name and/or you cannot use your friend’s
account to do the quizzes. You must use your own name and your own account. Otherwise you will
receive a mark of zero for quizzes not in your name.
Course Lecture notes and any additional required readings will be posted on the
Quickr course website. The link for econ1000 (for both sections D and E) to the
course website is:
http://jacinth.eso.yorku.ca/2011f-apecon1000d-03
The link to the course website for both sections of P and Q for Econ1010 is:
http://jacinth.eso.yorku.ca/2012w-apecon1010p-03
The link for the Quickr instructions and contact information is:
http://www.yorku.ca/laps/eso/students/quickrinstructions.html
AS/ECON 1000 D,E / 1010 P,Q
2
Fall 2011/Winter 2012
FINAL GRADE
The composition of the final grade is:
1000 Fall 2011
Online Quizzes
Test #1
Test #2
Final Exam
1010 Winter 2012
Online Quizzes
Test #1
Test #2
Final Exam
20%
15%
15%
50%
100%
Throughout the term
Tuesday, October 18, 2011, 7pm
Tuesday, November 15, 2011, 2:30pm
December 8 - 22, 2011
20%
15%
15%
50%
100%
Throughout the term
Thurs. February 2, 2012, 2:30
Thurs. March 8, 2012, 2:30
April 4 - 20, 2012
You are responsible for all material covered in lectures and all assigned pages in the textbook and questions in the
Study Guide. Do not do end of chapter questions in the textbook. Quizzes are explained below.
COURSE WORK
While tests and the final exam must be taken in person, it is your choice whether to attend the lectures in-class or online.
There will be three in-class lecture hours per week. Lecture notes (in the form of PowerPoint slides) will be available at least
24 hours in advance of class on the course website. Students attending lectures should print out a copy of the lecture notes and
bring them to class, as the pace of lectures will presume you have the notes in front of you.
All lecture content will be captured digitally (including PowerPoint, audio, document camera) and made available on the Quickr
course website within one day of the lecture.
The in-class tests and final exams consist of multiple choice (MC) questions and short answer problems (SAP). In addition,
students should answer the assigned questions in each Study Guide chapter (you may skip all True/False questions)
corresponding to the chapters in the Parkin/Bade textbook. These will not be graded and will not directly affect your grade.
However, the importance of doing the Study Guide questions cannot be overemphasized. Next to the lectures, working out
the answers to the questions in the Study Guide is the most important preparation for tests and exams. You will not pass tests
and exams if you cannot answer the Study Guide questions.
One of the dangers of a course where you do not have to physically attend lectures, is that without the discipline of coming to
class, you may fall behind in your reading and studying. In most university courses, but in Economics in particular, that is a recipe
for disaster, as last minute cramming does not work. The failure rate on the first term test is typically 25% or higher,
because students do not take this advice. To help prevent this outcome, I will have online quizzes throughout the term
(worth 20% of your final course grade) that must be completed by specific dates. Quizzes and other online study aides will be
delivered through MyEconLab. More quiz details will be available once the course starts.
Read the Study Guide's "Introduction" for advice on studying if you want to increase your chances of earning a higher grade.
I consider my job to be helping you succeed in doing well in the course. However, that will take a serious commitment from
you. ECON 1000 is a difficult course with high drop/failure rates. To do well, you should expect to spend at least 2 hours
studying outside the classroom for every hour of lecture. That means a minimum of 5 hours per week studying for this course
alone. If you are taking 5 courses and working 20 hours a week or more, experience shows you are likely to fail this course. Make
sure you have time to do well. Tests and exams do not focus on recall of information, but on application of concepts to different
situations. That is also why working practice problems in the Study Guide and using MyEconLab are so important.
Compared to some other sections of the course, I tend to cover more chapters in the textbook and many students
report that they work harder in my sections. I make no apology - you will learn more for the same tuition dollars than will
students in those other sections. If that does not appeal to you, consider switching to another section.
AS/ECON 1000 D,E / 1010 P,Q
3
Fall 2011/Winter 2012
LECTURE / TEST RULES AND ACADEMIC HONESTY
Please silence all cell phones and pages before entering the lecture hall.
Students using notebook/netbook computers will be required to sit in designated areas.
For tests and exams, programmable calculators, digital dictionaries, cell phones, or any electronic devices are not
allowed.
All such devices as well as all books, papers, knapsacks, and briefcases must be left at the front or sides of the lecture hall.
Anyone caught with electronic devices will be charged with Academic Dishonesty. The only items you may have at your seat
are pens, pencils, student ID, purses and coats.
Cheating and plagiarism are serious offences, which carry severe penalties. All students are expected to go to
the Academic Integrity web site (http://www.yorku.ca/acadinte/students/index.htm), to read the Senate Policy on
Academic Honesty, and to complete the Academic Integrity Tutorial (http://www.yorku.ca/tutorial/academic_integrity/).
Since calculators are not allowed on tests and exams, I suggest you do all Study Guide and MyEconLab problems
without using a calculator, so you get used to using a pencil only.
MAKE-UP POLICY
No permission is ever given to a student to write a test or exam in advance of its scheduled date.
A student who misses a test will be allowed to write a make-up test only if both of the following conditions are met:
1) the student notifies me that the test will be missed or has been missed;
2) the student provides a completed Registrar's Office Attending Physician's Statement showing a
physical incapability of writing the test.
Any other forms of doctor's note, especially one stating simply that "The student was seen in my office" are
not acceptable. Students who miss a test and do not meet both conditions (advance notification and
completed Registrar's Office Attending Physician's Statement) receive a grade of zero.
Students who miss either term test and meet both of the conditions above, will write the make-up test which is held
during class time, one week after Test 2 (for AS/ECON 1000, Tuesday, November 22, 2011, 2:30 pm; for
AS/ECON 1010, Thursday, March 15, 2012, 2:30 pm). There is only one comprehensive make-up test each term,
covering the material in both Tests 1 and 2. You must be available at these (class) times to write a make-up test. No
other times will be scheduled.
Students who miss the final exam will only be allowed to write a deferred exam if they complete the Deferred
Standing Agreement Form and provide a completed Registrar's Office Attending Physician's Statement.
Make-up tests and deferred exams are only for students who missed the original test or exam. No student is
ever allowed to write a make-up test or deferred exam in order to improve a score from the original test/exam.
To ensure that all students are familiar with these rules, you must complete "Quiz Zero" within MyEconLab. While this
quiz is not graded, you will not be able to access the lecture notes or receive Test marks until you complete Quiz
Zero with a perfect score.
IMPORTANT DATES
September 20, 2011
October 4, 2011
November 11, 2011
Last date to enrol in AS/ECON 1000 without the permission of the instructor
Last date to enrol in AS/ECON 1000 with the permission of the instructor
Last date to drop AS/ECON 1000 without receiving a grade
January 16, 2012
January 30, 2012
March 9, 2012
Last date to enrol in AS/ECON 1010 without the permission of the instructor
Last date to enrol in AS/ECON 1010 with the permission of the instructor
Last date to drop AS/ECON 1010 without receiving a grade
If you fail the first term test in either course, and cannot significantly increase the time you spend studying
Economics, it may be in your best interest to drop the course before the deadline for not receiving a grade.
AS/ECON 1000 D,E / 1010 P,Q
4
Fall 2011/Winter 2012
RELIGIOUS OBSERVANCE POLICY
York University is committed to respecting the religious beliefs and practices of all members of the community, and making
accommodations for observances of special significance to adherents. Should any of the dates specified for in-class tests
or examinations pose such a conflict for you, you are responsible for contacting me at least 2 weeks in advance. To arrange
an alternative date or time for a final exam scheduled in the formal examination periods (December and April), students must
complete an Examination Accommodation Form (http://www.registrar.yorku.ca/pdf/exam_accommodation.pdf).
TA OFFICE HOURS
Teaching assistants will be available in Vari Hall to answer questions about course material and Study Guide
questions. The TA office hours and locations will be announced in lecture and posted on the website. The best way to get
questions answered by TAs is to post them to the Quickr discussion forum (see below).
TECHNOLOGY
Even if you attend every lecture in person, to take this course you must have access to a computer and the web. You
will need to log on at least every other day, and ideally, every day.
The two major technologies used are the Quickr Course Management System and MyEconLab for quizzes.
Complete instructions for accessing this course's Quickr website are at
http://www.yorku.ca/laps/eso/students/quickrinstructions.html
LET'S GO
If you don't learn a lot of Economics, or find this course interesting or enjoyable, then I'm not doing my job. I love
teaching this course, and consider it my responsibility to help you to do well. Learning Economics means working hard, and
this course will be hard work. But if you are willing to put in the time, I will do everything I can to help you succeed. If you have
questions in lecture, ask them. If you have suggestions for improving the course, please let me know.
What you will get out of this course, as what you will get out of your University experience in general, depends entirely
on what you put into it.
AS/ECON 1000 D,E / 1010 P,Q
5
Fall 2011/Winter 2012
LECTURE SCHEDULE AND ASSIGNMENTS
Introduction to Microeconomics AS/ECON 1000 3.0 D,E Fall 2009
WEEK OF
TOPIC
READING
ASSIGNMENT
STUDY GUIDE
ASSIGNMENT
September
7
Administrative Introduction
Course Outline
September
12
What is Economics?: Theory,
History, Measurement, Policy
P/B Ch. 1; Ch. 1
Appendix, Math Note
Ch. 1:
MC
Appendix: MC
September 19
The Emergence of the
Market Economy:
The Economic Problem
P/B Ch. 2
Ch. 2:
Part 1:
September
26
Overview Neoclassical
Economic Theory:
Demand & Supply
P/B Ch. 3
October 3
Elasticity
P/B Ch. 4
All
All
SAP
SAP
All
All
MC
1-23
Problem All
SAP
MC
1-9
All
Ch. 3:
MC
All
SAP
All
Ch. 4:
MC
All
SAP
All
TEST 1 - Tuesday 18 October, 7pm
October 20
Efficiency & Equity;
Markets in Action
P/B Chs. 5 and
6
Ch. 5:
Ch. 6:
Part 2:
MC
All
MC
1-15
Problem a-d
SAP
SAP
MC
All 20
1-7
2-17
October
24
Utility & Demand
P/B Ch. 8 (182-193 only)
Ch. 8:
MC
SAP
All
October 31
Possibilities, Preferences and
Choices
P/B Ch. 9
Ch. 8:
Part 3:
MC
All
Problem All
SAP
MC
All
All
November 7
Organizing Production;
Output & Costs
P/B Chs. 10 (227-232
only) and 11
Ch. 10:
Ch. 11:
MC
MC
1-10,
All
SAP
SAP
1-4 10
All
1-23
TEST 2 - Tuesday 15 November, 7pm
November
17
Perfect Competition
P/B Ch. 12
Ch. 12:
MC
All
SAP
All
Nov. 21
Monopoly;
Monopolistic Competition
P/B Chs. 13 and 14
(323-329 only)
Ch. 13:
Ch. 14:
MC
MC
All
1-19
SAP
SAP
All
1-5
November
28
Oligopoly;
Externalities
P/B Chs. 15 (341-3,
346-54 only) and 16
Ch. 15:
Part 4:
Ch. 16:
Part 5:
MC
Problem
MC
MC
Problem
1-4, 9-17 SAP
All
1-8, 10-14, 16-23
All
SAP
All
MC
Ch. 18:
Part 6:
MC
1-6, 22
Problem None
December 5
Markets for Factors of
Production
P/B Ch. 18 (417-21, 4289, 434-5 only)
FINAL EXAM – In the period of DECEMBER 8 - 22, 2011
.
SAP
MC
1-3, 7-8
1-3, 5-10
4-5, 8, 11
1-4
4-5
AS/ECON 1000 D,E / 1010 P,Q
6
Fall 2011/Winter 2012
LECTURE SCHEDULE AND ASSIGNMENTS
Introduction to Macroeconomics AS/ECON 1010 3.0 P,Q Winter 2012
WEEK OF
January
READING
ASSIGNMENT
TOPIC
STUDY GUIDE
ASSIGNMENT
1-6, 12-25
1-4, 6-10
Measuring GDP & Economic
Growth
P/B Ch. 20
Ch. 20:
MC
SAP
January
7
Monitoring Jobs and Inflation
P/B Ch. 21
Ch. 21:
Part 7:
MC
All
Problem None
SAP
MC
All
1-2, 4-8
January
14
Aggregate Supply and
Aggregate Demand
P/B Ch. 26
Ch. 26:
MC
All
SAP
All
January
21
Expenditure Multipliers:
The Keynesian Model
P/B Ch. 27
Ch. 27:
MC
All
SAP
All
January 31
(Continued)
All
SAP
All
3
TEST 1 - Thursday 2 February, 7pm
February 6
Money, the Price Level &
Inflation
P/B Ch. 24
Ch. 24:
MC
February
13
The Exchange Rate &
Balance of Payments
P/B Ch. 25
Ch. 25:
Part 8:
MC
All
SAP
Problem None
MC
3-4, 7, 9, 11, 13, 16
All
February 27
Canadian Inflation,
Unemployment & Business
Cycle
P/B Ch. 28
(679-686 only)
Ch. 28:
MC
1-3, 5-6
March 5
Fiscal Policy
P/B Ch. 29
(707-13, 718-26 only)
Ch. 29:
Part 9:
MC
1-8,16-25 SAP
Problem None
MC
1-5, 7-8, 10, 12
1-14
SAP
1-3, 9-10
TEST 2 - Thursday 8 March, 7pm
March
12
Monetary Policy
P/B Ch. 30 (731-46 only)
Ch. 30:
Part 10:
MC
1-23
Problem None
SAP 1-5
MC 1-3, 5-6
March
19
Economic Growth
P/B Ch. 22
Ch. 22:
MC
SAP All
March
26
Government and
Business Cycles:
Hands Off or Hands On?
To be added
FINAL EXAM - APRIL 4 - 20, 2012
All
Registrar's Office
Attending Physician's Statement
Note: It is extremely important to fully complete this form in order for your petition to be given full consideration.
Section I - TO BE COMPLETED BY THE STUDENT. Return completed form to Student Client Services, Bennett Centre for Student
Services, with your petition.
Please Print
Physician Information
Student Information
Physician's Name
Patient's Name (if other than Student)
Street Address
Student's Name
City
Province
Postal Code
Telephone Number
Student Number
Faculty
Fax Number
Personal health information on this form is collected under the authority of The York University Act, 1965. It is related directly to and needed to support your
academic petition to York University.
Pursuant to S. 29 of PHIPA (Personal Health Information Protection Act), I (the undersigned student or patient) authorize and consent to the physician
named on this form to disclose to the York University faculty and administrative staff authorized to administer and consider academic petitions such personal
health information as is necessary or as may be reasonably required by York University to support my academic petition.
I understand that York University will maintain and store this information in such a manner as to protect its confidentiality.
Signature of Student/Patient (if other than Student)
Date
Section II - TO BE COMPLETED BY THE ATTENDING PHYSICIAN.
The above named student, who is registered at York University, has petitioned for special consideration on medical grounds. The
student or patient related to the student is authorizing you, the attending physician, to release the information requested below. Please
retain a copy of this form for your files as your office may be contacted to verify that this statement was completed by the attending
physician. The original form must be returned to the student for submission with the petition.
Please Print
1. Date you received this form: _________________________________________________________________________________
2. Consultation Date(s): _______________________________________________________________________________________
3. Dates of illness/accident: Start: ____________________________________
End: ____________________________________
PLEASE TURN OVER
Attending Physician's Statement, July 2008
4. Summary of Nature of illness/accident:
__________________________________________________________________________________________________________
__________________________________________________________________________________________________________
__________________________________________________________________________________________________________
5. Do you think the illness/accident and/or treatment prescribed would have seriously affected the student's ability to study and
perform? (circle one) Yes or No
6. If yes:
a) In what way? ____________________________________________________________________________________
b) During what period of time? _________________________________________________________________________
7. When will the student be able to resume his/her studies? _________________________________________________________
8. Do you have any further comments regarding this patient's condition as it relates to the student's petition?
__________________________________________________________________________________________________________
__________________________________________________________________________________________________________
__________________________________________________________________________________________________________
Physician's Signature
Physician's Stamp
Date
For Office Use Only
Verified By: ________________________________________
Date: __________________________________________
If you have any questions about the collection, use or disclosure of personal information by York University, please contact the Manager, Student Client Services,
W120 Bennett Centre for Student Services, York University, 4700 Keele Street, Toronto ON, M3J 1P3, 416-872-9675.
Attending Physician's Statement, July 2008