ECO 361 Intermediate Microeconomics

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RULES OF THE GAME
Junior/Senior Courses
OFFICE HOURS
My office hours are as posted, or by appointment at our mutual convenience. I have many office
hours available to my students because I believe that sometimes education requires that the
professor and the student get together on a one-on-one basis. During my office hours we can
discuss the lectures, textbook material, workbook problems, tests, career choices, or anything
you wish. These hours are your time and I strongly suggest that you take advantage of them.
The final decision is, of course, your own.
If you need help, you may also call me either at school or home. My numbers are on the Course
Schedule. I have also included my E-mail address and my FAX number. You can ALWAYS
reach me.
TESTING
Junior and Senior level courses: Tests will be long essay, consisting of three essay questions.
The student may choose any two essays.
Test material includes your textbook, class handouts, assigned library material, lecture notes, and
class discussion. Unannounced quizzes will be at my discretion.
All upper-level classes will have three regular 70-point tests, plus a 70-point comprehensive final
exam. I will throw out your lowest test score, including the final exam. Why? Because I do not
give make up tests. If you miss a test for ANY REASON, I will drop that score. If you MUST
for any reason be absent during the semester, notify me in advance.
TESTING PROCEDURES
All tests will be administered in accordance with procedures in place for standardized testing
such as the ACT. Since students will be in the classroom the entire test period, all outside
activities such as visiting the restrooms must be completed BEFORE the test is administered.
Once the tests have been handed to the students, they must turn in their completed tests before
leaving the classroom.
ACADEMIC HONESTY POLICY AND DUE PROCESS
Academic honesty is required in all academic endeavors. Violations of academic honesty include
any instance of plagiarism, cheating, seeking credit for another’s work, falsifying documents or
academic records, or any other fraudulent classroom activity. Violations of academic honesty
may result in a failing grade on the assignment, failure in the course, or expulsion from school.
When a student’s grade has been affected, violations of academic honesty will be reported to the
Provost or the designated representative.
Violations of Academic Honesty
Violators of academic honesty include, but are not limited to, the following activities:
1. Copying another person’s work and claiming it as your own;
2. Using the work of a group of students when the assignment requires individual work;
3. Looking at or attempting to look at an examination before it is administered;
4. Using materials during an examination that are not permitted;
5. Allowing another student to take your exam for you;
6. Intentionally impeding the academic work of others;
7. Using any electronic device to transmit portions of questions or answers on an examination to
other students;
8. Using any electronic device to improperly store information for an exam;
9. Knowingly furnishing false information to the university or its representatives;
10. Assisting other students in any of the acts listed above.
Student Handbook http://www.missouriwestern.edu/handbook/index.pdf, (page 26).
STUDENT DUE PROCESS PROCEDURE
A student accused of academic dishonesty will first meet with the faculty member who made the
allegation of academic dishonesty. If the faculty member decides academic dishonesty occurred,
consequences could include giving the student a zero on the assignment, asking the student to
rewrite the assignment, or failing the student in the course.
If the student’s grade is affected, the faculty member must file a MWSU Academic Honesty
Violation Report. If the student disagrees with the faculty member’s decision, the student may
submit a written appeal of that decision within 10 working days to the department chair and
request a meeting with the department chair. The department chair will inform the faculty
member that an appeal has been made, and the faculty member will have the option to submit a
rebuttal form to address the student’s appeal. In the event there is no assigned chair, the request
should be made to the college or school dean. The chair’s decision shall be provided in writing to
the student and to the faculty member within 30 calendar days of the chairs receipt of the written
appeal.
If the student chooses to continue the appeal process, the appeal may be made within 10 working
days to the Provost or designated representative to present the case to the Academic Honesty
Committee. The Provost or designated representative will present the case to the Academic
Honesty Committee within 10 working days of receipt of the appeal. If the appeal is made during
the summer semester or intersession, it will be presented to the Committee within 10 working
days from the beginning of the next regular academic semester. The Committee will base its
decision on the written statements and evidence submitted by the student and the faculty
member. The Committee’s decision, which must be made within 30 calendar days from the date
on which the committee receives the appeal, is final. The Committee will notify, in writing, the
student and the faculty member of its decision. If it is determined that no violation of academic
honesty has occurred, the student’s alleged violation will be removed from his or her record.
Any student who has been found guilty of violating the academic honesty policy a second time
will be reported by the Provost to the Dean of Student Affairs for disciplinary action.
Student Handbook http://www.missouriwestern.edu/handbook/index.pdf, (page 26).
CLASSROOM BEHAVIOR
Students are expected to conform to the normal standards of academic behavior in all
classrooms. In addition to normal standards of academic behavior, instructors may establish
reasonable additional classroom rules and expectations for conduct in the classroom. Behavior
which disrupts the classroom environment or interferes with other students’ ability to learn may
be grounds or justification for dismissal from the classroom.
Student Handbook http://www.missouriwestern.edu/handbook/index.pdf, (page 28).
SEATING
I will make a seating chart after the drop/add period, and take role on a daily basis. Please select
a seat at the beginning of the course and stay there. If someone is in "your" seat after the seating
chart has been constructed, please ask the student to see me for a seat assignment. DO NOT
CHANGE SEATS DURING THE SEMESTER WITHOUT TELLING ME.
GRADING
Grades will be assigned on a straight percent of total points basis. The grading scale is as
follows:
GRADE
A
B
C
D
PERCEN
T
RANGE
100-90%
89-80%
79-70%
69-60%
70 PT.
TESTS,
FINAL
GRADE,
RANGE
70-63
62-56
55-49
48-42
RANGE
210-189
188-168
167-147
146-126
By this procedure you will always know your exact grade in my course. I will not play God, nor
will I arbitrarily reward or penalize anyone.
CLASS ATTENDANCE
Each student is personally responsible for any class period missed, including all class notes,
handouts, assignments, announcements of upcoming tests, etc. If you miss a class for any reason
you must get the notes and assignments from a classmate.
NOTICE: There are many benefits to the student in regularly attending my class. One such
advantage is the development of logical thought processes through the study of economics. I
will, on a daily basis, teach what is called "the science of common sense.” I have developed the
following plan to account for the additional benefits of attendance.
If, at the end of the semester, you are THREE POINTS (not percentage points) or less below the
number of points necessary for the next highest letter grade for the course, then I will award you
that grade UNLESS you have more than the equivalent of one week of class cuts. For a MWF
class-3 cuts, TTH-2 cuts, Summer-1 cut (1 day=3 cuts), night class-1 cut (1 night=3 cuts). IF
YOU COME TO CLASS LATE, after I have taken role, it is your responsibility to notify me of
your presence immediately after that class. I will not remove marked absences the next day or
week.
Policy Guide:
"Regular class attendance is considered an essential part of the student's
educational experience and a requirement for an adequate evaluation of student academic
progress. Each instructor will determine and make known to the class the requirement for
attendance. When an announced examination falls on the day a student is absent, instructors are
not required to prepare or give a make-up test. Consideration will be given to students in the
case of genuine illness, emergence, or when acting as a representative of MWSC. It shall be the
responsibility of the student to notify the class instructor prior to the absence and if possible,
meet the instructor upon the student's return to discuss the material missed."
CLASS PARTICIPATION
This class exists solely for your education. You should therefore use the class time to your best
advantage. If you need something clarified, explained better, or repeated, please do not hesitate
to ask. If you have a comment relevant to our discussion, please share it with the class.
CELL PHONES, ETC.
There will be no use of cell phones or other communication devices while class is in session. If a
situation arises where you MUST respond to a call or text, please leave the classroom and
conduct your business in the hallway. If I see someone talking, texting, or otherwise using these
devices in class, I will remind them of this policy. They can either stop or conduct business in
the hallway.
STUDENTS WITH DISABILITIES
Policy Guide: "Any student in this course who has a disability that prevents the fullest
expression of abilities should contact me personally as soon as possible so that we can discuss
class requirements and accommodations."
“If you have been diagnosed with a disability or if you suspect that you may have a disability
that has never been diagnosed and would like to find out what services may be available, please
visit the Office of Disability Services (ODS) in Eder Hall, room 203N or visit the ODS website
at http://www.missouriwestern.edu/ds/ as soon as possible. This syllabus, as well as all other
printed or electronic materials, can be made available in alternative/accessible formats if
requested with sufficient prior notice. Missouri Western is an equal opportunity/affirmative
action institution.”
MikeRitter
Disability Services Coordinator
FINAL GRADES
Final grades will not be posted (Privacy Act). If you have any questions concerning your final
exam or how your grade was calculated, you have every right to a complete explanation. I do,
however, request that you not contact me the week of finals, as I will be extremely busy grading
scores of tests.
If you wish to know your final exam score and final grade for the course as soon as possible,
then either e-mail or call me requesting your score and final grade. I will not leave grades on
your answering machine unless specifically instructed to do so.
TEXTBOOK
MICROECONOMIC THEORY AND APPLICATIONS, 7TH EDITION BROWNING AND
ZUPAN
CH.
1
2
3
4
5
6
INTRO TO MICROECONOMICS
SUPPLY AND DEMAND
THEORY OF CONSUMER CHOICE
INDIVIDUAL AND MARKET DEMAND
USING CONSUMER CHOICE THEORY (ASSIGNED PARTS ONLY)
EXCHANGE, EFFICIENCY, AND PRICES (I WILL DO THE CHAPTER)
TEST #1
7
8
9
10
PRODUCTION
COST OF PRODUCTION
PROFIT MAX IN PERFECT COMPETITION
USING THE COMPETITIVE MODEL (ASSIGNED PARTS ONLY)
TEST #2
11
12
13
14
15
MONOPOLY
PRICING WITH MONOPOLY POWER
M.C. AND OLIGOPOLY
GAME THEORY AND THE ECONOMICS OF INFORMATION
USING NONCOMPETITIVE MARKET MODELS
TEST #3
TIME PERMITTING:
16
EMPLOYMENT AND PRICING OF INPUTS
17
WAGES, RENT, INTEREST, AND PROFIT
KEY TERMS: ESSAY TESTS
DISCUSS means to treat fully, sketching backgrounds, clarifying at least major and perhaps
secondary points with specific illustrations or detail. Never dash off a brief and superficial
answer when you have been told to discuss.
EXPLAIN means to make plain, as fully as necessary for clarity.
Never substitute the following for DISCUSS or EXPLAIN
ENUMERATE or LIST means to set down briefly, one after another, without undue elaboration.
SKETCH or TRACE means to survey the high points.
SYMBOLS USED IN GRADING ESSAY TESTS
In order to significantly reduce the amount of time spent in grading essay examinations, I have
developed the following set of symbols to be used in correcting your essays. These symbols and
their explanations below will help you in determining how your essays were graded. It is
essential, though, that you be present in class when we discuss the graded exams so that you
understand the main elements of each essay.
NO = Wrong statement; faulty explanation. The Sin of Commission.
I = Incomplete; other relevant points or key concepts. The Sin of Omission.
M = More discussion. Weak or insufficient explanation of a key concept.
v = Vague discussion; too general.
? = I don't understand what you are saying; I don't understand how the sentence, or
statement, fits your discussion.
Def? = Listing or using key terms without showing me that you understand the concepts.
NS = Non sequitur (it does not follow). A statement that does not follow logically from anything
previously said. A fallacy resulting from ... the transposition of a condition and its consequent.
N/A =Not applicable; your statement(s) do not relate to the question.
A NOTE ON WRITING ESSAYS
A recent major study examined the knowledge, skills and attitudes needed to succeed in the
business world. Hundreds of regional and national employers equally selected from small firms
(less than 500 employees), medium firms (500 to 5,000 employees) and large firms (more than
5,000 employees) participated in the survey. Their perceptions were tabulated using a five point
Likert-type scale, reflecting their opinions as to the significance of a variety of different criteria
in each of three categories (knowledge, skills, and attitude).
Under the heading of "Most Important Skill Areas", these employers chose Listening and
Written Communication from a list of 41 different skills as the two most important possessions
of the new college graduate. The significance of written communication is not surprising since
Webster's New Collegiate Dictionary defmes skill as ''the ability to use one's knowledge
effectively and readily in execution or performance".
In order to develop this vital skill, your grade in this course will be determined exclusively by
means of a series of essay examinations, This will not only enhance your initial marketability,
but also improve your chances for promotion to higher levels of responsibility throughout your
career.
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