Dr. T. Liska
Office:
Office Phone
e-mail
Spring
2011
Office Hours:
W
9:00-11:00 am.
W
1:00-4 p.m.
TR
10:00 -11:00 a.m.
TR
2:00-3:00 p.m.
or by appointment
Web address: http://www.uwplatt.edu/~liska
246 Gardner Hall
342-1241
Liska
MICROECONOMICS 223
TEXT: PRINCIPLES OF ECONOMICS Karl E. Case and Ray C. Fair,
8th edition
Study Guide Microeconomics
Suggested Reading: Capitalism and Freedom by Milton and Rose Friedman
Free to Choose by Milton and Rose Friedman
The Price of Everything by Russell Roberts
Choice by Russell Roberts
The Invisible Heart by Russell Roberts
I. Course Objective
1. To demonstrate knowledge of individual and social behavior.
2. To display knowledge of patterns and issues within the social
sciences
3. To demonstrate knowledge of methods used to study these problems
and issues
4. To learn critical thinking skills that apply to society.
II. Student Learning Outcomes
1. Students will be able to state the critical thinking
skills used in economic analysis.
2. Students will understand how economic incentives affect
individual and social behavior.
III. Course Requirements
A.
Three one-hour exams plus two hour final exam
Exams are combination of multiple choice and essay.
Each exam is worth 100 points.
The final exam will be a combination of past and present
material. The hour exams and final exam will be open-book
and open-note exams.
A 10-POINT PENALTY WILL BE DEDUCTED FROM ALL MAKE-UP
EXAMS UNLESS I RECEIVE A MEDICAL STATEMENT FROM A
PHYSICIAN. The exams are open book and note the quizzes
are closed book and note.
Students will be able to get extra credit points after each
exam. Students who come to my office and adequately
explain the answer for the multiple choice problems they
missed will receive 2 point added to their exam grade for
each correct explanation. The student must come into my
office within two weeks of the exam to receive extra credit
points.
I believe that the application of basic economic concepts
is much more important than memorization of economic
terms. The exams will emphasize application of economic
concepts.
The best method of memorization is to study alone. A good
method of learning application is to practice frequently
and study with other people. Classmates should quiz each
other on applications of the various economic concepts.
There will be three short quizzes about 15 minutes in
length. Each quiz will be about 30 points and be closed
book and notes. Each quiz will be about 7 days before the
exam
B.
Exam Dates
Quiz #1
Exam I
Feb
Quiz #2
Exam II
Mar
Quiz #3
Exam III Apr
25 points
17
25 points
24
25 points
21
Final Exam Tuesday, May 17 8-9:52 a.m. Room to be
announced.
A 10-POINT PENALTY WILL BE DEDUCTED FROM ALL MAKE-UP
EXAMS UNLESS I RECEIVE A MEDICAL STATEMENT FROM A
PHYSICIAN. The exams are open book and note the quizzes
are closed book and note.
Any student who may need an accommodation due to a
disability, please make an appointment to see me during
my office hours. A VISA from Services for Students with
Disabilities authorizing your accommodations will be
needed. Any student who may need an accommodation related
to a religious conflict, please see me within the first
two weeks of class.
Exam Preparation
3
1.
2.
3.
4.
C.
Read the textbook
Attend class
Review multiple choice questions in the study guide
Do the even numbered problems at the end of each chapter
Learning Exercises - There will be 3 group
exercises worth between 25 to 35 points each. The
learning activities will total approximately 100 points.
10% of the points
90% of the points
It is always a
assignment you
for grammar and spelling
on your demonstration of content.
good idea to keep a copy of each
hand in.
Learning activities will not be accepted after they are
discussed in class.
D.
Heterogeneous study groups will be formed to work together
both in and out of the classroom. A 10% bonus will be added
onto each assignment if it is done cooperatively and
individuals who participated in the team sign the paper.
I encourage your study group to get together with other
study groups to discuss potential applications of economic
concepts.
E.
Student Responsibilities - At the end of each class I will
assign reading in the textbook for the next class.
Students should read the appropriate pages in the text and
look over the corresponding notes. Students should
come prepared to discuss the questions in brackets in your
notes. Students are responsible for material in the text
and in class. It is the students responsibility to make-up
any missed exams, assignments, or quizzes within a week
of returning to class.
F.
Class Participation - If you or your group have any
questions during class, it is important you ask them.
If there are no questions, I will assume the material in
the text is understood. Questions help students clarify
any problems during class and help me in determining how
students are understanding the material.
G.
Class Attendance- In class I will discuss applications of
4
H.
economic theory. Most applications are not in the textbook
and attendance is crucial. I take attendance each class.
Attendance helps me to associate faces and names. If you
missed a grade (A,B,C,D) by 6 points or less and your
attendance is good, I will give you the higher grade. Good
attendance is defined as having no more than 3 un-excused
absences in the semester.
Instructor Responsibilities - To work with students to
achieve the course objective.
I.
IV.
Office Hours - You are encouraged to stop in during
office hours to talk about any problems or
suggestions you may have concerning the course; about
careers (especially graduate school, law school or
the benefits and costs of majoring or minoring in
economics); or just about politics or things in
general. If you want to talk to me and find the
scheduled hours to be inconvenient, feel free to
schedule an appointment.
Grades
Grades will be determined on a total point basis. Students have
four grading options:
1. Grade based on examinations only a total of 400 points.
2. Grade based on examinations and assignments of 492 points.
3. Grade based on examinations and quizzes a total of 490 points.
4. Grade based on examinations, assignments and quizzes a total of
582 points.
Everyone is eligible for make-up bonus points earned after each exam.
The grade distribution below is based on a percentage of total course
points and does not include bonus points.
90% and above
80<90%
70<80%
58<70%
Less than 58%
A
B
C
D
F
Your participation in class will greatly enhance the learning
process of you and your classmates.
Should your total points
(including bonus points) come to within 6 points of a
grade boundary I will give you the higher grade if you
have missed 3 or fewer classes for the semester.
5
V.
Introduction
Chapters 1,2,30,32
A. The Scope and Method of Economics
Ch 1
B. The Economic Problem: Scarcity and Choice
Ch 2
C. International Trade, Comparative Advantage and
Protectionism
Pg 700-706
Ch 33
D. Economic Systems Pages 776-782
Ch 36
Exam I
VI.
Foundations of Microeconomics: Consumers
Chapters 3,4,and 5
A. Demand, Supply, and Market Equilibrium
Ch 3
B. Demand, Supply, Applications
Ch 4
C. Elasticity
Ch 5
Exam II
VII. Foundations of Microeconomics: Consumers and Firms Chs
C. The foundations of Producer Decisions
D. Short-Run Costs and Output Decision in the Long-Run
E. Costs and Output Decisions in the Long-Run
7,8
Ch 7
Ch 8
Ch 9
Exam III
VIII. Market Imperfections and the Role of Government Chapters
12,13&14
A. General Equilibrium Analysis and the Efficiency of Perfect
Competition
Ch
12
B. Externalities, Public Goods, and
Imperfect Information
Ch 12 & 15
C. Monopoly
Ch 13
D. Monopolistic Competition and Oligopoly
Ch 14
EXAM IV