ECON 401: Intermediate Microeconomic Analysis
7:40-9:50am – TTh in SS 132
Instructor
Fall 2013
Dr. Roy Savoian
* Contact info: 509/963-1954 and savoianr@cwu.edu
* website: www.cwu.edu/~savoianr
[includes biographical information]
* Office: Shaw-Smyser 301
* Office Hours: 10:00-11:00am, M-T-W; and, by appointment
*Note about Communication: I do not engage in tweeting, send or receive text
messages, have a Facebook account or teach using Blackboard. You can communicate
with me outside of class by telephone, email and, of course, face-to-face in my office. I
hope to get to know you and look forward to greeting you by name on-campus and in
town.
Textbook
Austan Goolsbee, Steven Levitt & Chad Syverson, Microeconomics
(Worth Publishers 2013)
Course Description
Analysis of markets as mechanisms for organizing and directing human activities;
production of goods and services; the allocation of labor, capital, and natural resources
to various productive activities; and the distribution of income. Analysis of the
relationship between microeconomics theory and contemporary thought, practical
problems and government policies.
Prerequisite: ECON 201 (Principles of Economics – Micro)
Learning Objectives and Outcomes
Objectives:
The principal objective of the course is for students to gain an understanding and
appreciation for the power of microeconomic theory in understanding economic
behavior and the human experience associated with economic activity. Students will
become familiar with theoretical foundations of supply and demand analysis and how
these tools can be used to model and predict consumer and producer behavior. They
will learn to appreciate and work with the complementary nature of verbal, graphical and
mathematical expositions of microeconomic theory and models. Students will also be
able to define economic efficiency and its value in examining economic behavior and
public policy.
Outcomes:
 Use demand and supply models to analyze a variety of changes in market
circumstances and government policies.
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Develop the theory of demand from assumptions concerning consumer
preferences and income constraints.
Develop theories of cost and supply from underlying production relationships and
input prices.
Analyze the effect of changes in market structure on firm behavior.
Understand the nature of economic efficiency and its relationship to market
structure.
Use economic efficiency to analyze the effects of government policy on markets.
Textbook Features
Important issues and examples are featured through-out the text in each chapter to
connect microeconomic theory to the real world. It is strongly suggested that you read
these features and be prepared to discuss them in class and/or on an exam.
Theory and Data - summarizes economic research and uses the empirical dimension to
reveal the reality behind the theory.
Application - shows how microeconomic theory informs consumer and producer
decision making in real situations.
Freakonomics - features essays to encourage students to develop as economic thinkers
by showing them how economics can illuminate common as well as uncommon
phenomena.
Your study strategy and preparation for exams should also include sections in each
chapter: "Figure it out" worked-out problems, "Make the grade" essays, and "End-ofchapter" study aids.
Exams, Assignments and Grading
Unit Exams: 60 points each x 4 Unit Exams
Homework: 10 points each x 4 assignments
Comprehensive Final Exam
TOTAL
90% and above
80-89%
70-79%
60-69%
59% and below
= A- or A
= B-, B or B+
= C-, C or C+
= D-, D or D+
=F
= 240 points (60%)
= 40 points (10%)
= 120 points (30%)
= 400 points
360-400 points
320-359
280-319
240-279
239 or less
You are expected to attend class when all Exams are scheduled. There are NO makeup exams or early exams. So, please plan your social or travel schedule accordingly.
Exams will be comprised of essay questions and problems. You are expected to write
in a clear and grammatically correct manner, and to clearly label graphs. You are also
expected to show your work in calculating a solution to homework and exam problems.
Course Schedule:
Week Date
1
Th-Sept 26
Chapters/Topics
Syllabus/Introduction
Preface
Ch. 1-Overview
2
T-Oct 1
Th-Oct 3
Ch. 2-Supply and Demand
3
T-Oct 8
Th-Oct 10
Ch. 3-Using Supply and Demand
4
T-Oct 15
UNIT EXAM 1
Ch. 4-Consumer Behavior
Assignments
Due: Homework #1
Th-Oct 17
5
T-Oct 22
Th-Oct 24
Ch. 5-Individual and Market Demand
6
T-Oct 29
UNIT EXAM 2
CB “Economic Outlook Conference” [SURC Theatre]
Ch. 6-Producer Behavior
Th-Oct 31
7
T-Nov 5
Th-Nov 7
Ch. 7-Costs
8
T-Nov 12
UNIT EXAM 3
Ch. 8-Supply in Competitive Market
Due: Homework #2
Due: Homework #3
Th-Nov 14
9
T-Nov 19
Th-Nov 21
Ch. 9-Market Power and Monopoly
Due: Homework #4
10
T-Nov 26
Th-Nov 28
UNIT EXAM 4
Thanksgiving Holiday
11
T-Dec 3
Th-Dec 5
Ch. 10-Market Power and Pricing Strategies (pp. 395-403)
Ch. 11-Imperfect Competition (pp. 439-449)
COMPREHENSIVE FINAL EXAM: Thursday, December 12 at 10:00am-12noon
Students with Disability
Students with a disability who wish to set up an academic adjustment in this class
should submit their “Academic Accommodation Plan” found on the Disability Services
website at www.cwu.edu/disability-support/ The Disability Services Office is located in
Bouillon 140 or ds@cwu.edu or 963-1202.
Seating and Class Attendance
Please sit in the same seat for all class meetings. You are expected to attend all class
meetings. However, you are allowed two (2) excused or unexcused absences. Two
class meetings represent one week of material and information. After 2 absences, 10
points will be deducted for each absence.
College of Business: Statement of Conduct and Code of Honor
The College of Business is a learning community committed to a set of core values
based on integrity, respect and responsibility that guide our interactions.
Integrity: the quality of possessing and steadfastly adhering to high moral
principles or professional standards
Respect: to show consideration or thoughtfulness in relation to others
Responsibility: the state, fact, or position of being accountable and responsible
As College of Business students we pledge to uphold these standards of
professionalism and conduct ourselves in accordance with them.
We will not lie, cheat, or steal, and will not tolerate those who do. Our behavior defines
who we are and what we will become.
Simple Rules
Please turn-off your cell phone. You can use an electronic device to take notes, but no
surfing the Internet or doing homework. Violators will be asked to leave class.
Furthermore, by virtue of enrollment in a College of Business course, all students are
expected to commit themselves to learning the material and to act in a civil manner in
class and be respectful of their peers and the professor. Behaviors to the contrary will
result in disciplinary action and possible expulsion from the class.
Class Conduct
Students are expected to complete assignments -- reading as well as written -- by the
deadline. Any student caught cheating will be removed from the class with an "F." He
or she will also be subject to the fullest provisions of the CWU Student Handbook,
including suspension and/or expulsion from the university. Plagiarism (i.e., taking an
idea or writing from another and passing it off as one's own) on assignments is
considered cheating. Looking at another student's exam during a test is also cheating.
Any other misrepresentation of one's work will also be subject to consideration as
cheating. Conclusion .... Cheating will not be tolerated!