Econ 102 PRINCIPLES OF MICROECONOMICS (3 credits)
Class meets Mon and Wed 5:30 - 8:15 in REYN 113
Instructor: Jim Bathgate
e-mail: james.bathgate@wnc.edu
Office: none
Office hours: None scheduled. Feel free to ask questions by e-mail.
Transferability: This course is designed to apply toward a WNC degree and/or transfer to other
schools within the Nevada System of Higher Education, depending on the degree chosen and
other courses completed. It may transfer to colleges and universities outside Nevada. For
information about how this course can transfer and apply to a specific program of study, please
contact a counselor.
Course Description:
This course deals with supply and demand, the four types of markets (perfect competition, monopolistic
competition, oligopoly, and monopoly), operations of markets, consumer and enterprise behavior, and
price determination.
Objectives:
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Describe and discuss the basics of economics: opportunity costs and production curves,
supply and demand, public and private sectors.
Differentiate between the various types of firms and markets in terms of basic theory and
issues for product markets.
Contrast the different markets in terms of basic theory and issues.
Discuss financial markets and international trade and finance.
Find and interpret pertinent data.
Solve homework problems using underlying mathematical theories.
Text:
Principles of Microeconomics 6 ed. by N. Gregory Mankiw.
Grading:
Six short quizzes (2% each) will be given during the semester. The lowest quiz grade for each student will
be dropped. The rest of your grade will be based on two midterm exams (25% each), class participation
(15%), and a final exam (25%).
After all points have been tabulated, anyone meeting the criteria below will receive no less than the grade
indicated.
A
AB+
B
B-
93-100%
90-92%
87-89%
83-86%
80-82%
C+
C
CD+
D
77-79%
73-76%
70-72%
67-69%
63-66%
DF
60-62%
0-59%
Do not expect, nor should you ask for, extra credit assignments.
As a point of clarification, I do not "give" grades to students. I evaluate the quality of student work and, based
on the above criteria, assign the grades that have been earned. If you "must" earn a particular grade in the
class, keep this in mind and work toward that goal throughout the entire semester. Do not try to negotiate a
higher grade at the end of the semester--I will not give you a grade that you did not earn.
Any academic dishonesty on any assignment may result in the student receiving a failing grade (F) for the
course. It is the student's responsibility to know what constitutes academic dishonesty and, if in doubt, he
should consult with the instructor or the student handbook. Examples of academic dishonesty in this class
include looking at other students' work during a quiz or exam, allowing others to see your quiz or exam
before it is completed and/or submitted, wearing a hat or headphones during a quiz or exam, etc. No cell
phones may be used during a test or quiz. All incidents of suspected academic dishonesty will be reported.
Audio or video recording of the class is not allowed.
If you have a disability for which you will need to request accommodations, please contact the
Disability Support Services office (Bristlecone building, Room 103) at 445-3266 or 445-3275 as
soon as possible to arrange for appropriate accommodations.
It is your responsibility to seek assistance if you are having difficulty. Therefore, if you do not understand a
portion of the material, it is your responsibility to ask for clarification (whether in class, by email, or in my
office). If you do not do well on a test or assignment, it is your responsibility to determine what went wrong
and to discover what corrective actions can be taken. I will assist as much as is reasonably possible, but you
must take the initiative. If you do not take the initiative, you are sending the message that you are unwilling to
correct the problem. I cannot help anyone who does not want help.
Quizzes and Exams:
Quizzes generally consist of four short answer questions based on material covered since the previous
quiz or exam. You will be given no more than five minutes to complete each quiz, so it is essential that you
arrive at class on time and prepared to begin immediately.
Exams typically consist of multiple choice, short-answer, graphical and mathematical questions. Unless I say
otherwise, you may not use a calculator during the exams. If I choose to allow calculators, note that
programming formulas into your calculator for use during the exam is considered cheating and will be
punished as such. If you forget your calculator on exam day, you will not be allowed to share calculators with
another student.
The quizzes and exams are not designed to measure your ability to guess what the instructor is asking for. It
is therefore your responsibility to request clarification for any exam question about which you are unsure.
I reserve the right to alter the exam or quiz format at any time. Furthermore, I reserve the right to reschedule
exams and quizzes as I see necessary.
Make-up quizzes and exams will not generally be offered. Interference with travel or vacation plans is not a
valid reason to miss a quiz or exam. If a student misses a quiz because of late arrival to class, the student
will receive a zero on the quiz and will not be given an opportunity to take it later or add its value to the
final exam. Furthermore a student who arrives late on a quiz day will not be given extra time to complete
the quiz.
Class Participation:
Students are expected to participate actively in the learning process. To maximize your ability to do this, you
should come to class prepared each day, having already read the chapter to be discussed. Active class
participation can really improve your grade and is especially important if you are struggling with the course
material.
Quality participation may be achieved by asking intelligent questions, and by offering well-reasoned input,
both during lectures and discussions. Do not let the prior statement discourage you from participating. It is
okay to be wrong; in fact, we often learn more from our wrong answers than from our right ones. Questions
are only stupid when the person asking has no serious interest in learning the answer. On the other hand, do
not expect to receive a good participation grade simply by blurting out questions and/or answers from left
field. Similarly, pay attention to the questions of others so as not to repeat a question I just answered. The
level of respect given (or not given) to other students’ questions or contributions will influence your
participation grade. Dominating a discussion is to be avoided, and if you find yourself doing that, try to back
off and allow others the opportunity to participate.
Often we will be working through problems in class. Do not ask me if you can leave and do the problems
later at home. Moreover you should not spend this time chatting with other students. Class participation
includes actually doing these problems in class. There are several other things that contribute to a good
class participation score. For example, try responding to questions posed in class or volunteering to write
the answers to problems on the board. Bring in economics-related news articles for discussion in class.
Important Dates (I do my very best to avoid changing these dates):
June 17
June 24
June 26
July 1
July 8
July 15
July 22
July 29
July 31
Quiz 1
Quiz 2
Exam 1
Quiz 3
Quiz 4
Exam 2
Quiz 5
Quiz 6
Final Exam
Tentative Schedule of Topics:
Introduction,
Ten Principles of Economics, Thinking Like and Economist (Chapter 1 and 2)
Interdependence and the Gains From Trade, PPF (Chapter 3)
Supply and Demand (Chapter 4)
Elasticity and its Application (Chapter 5)
Supply, Demand, and Government Policies (Chapter 6)
Consumers, Producers, and the Efficiency of Markets (Chapter 7)
Costs of Taxation (Chapter 8)
Externalities (Chapter 10)
Public Goods and Common Resources (Chapter 11)
Design of the Tax System (Chapter 12)
Costs of Production (Chapter 13)
Firms I Competitive Markets (Chapter 14)
Monopoly (Chapter 15)
Monopolistic Competition (Chapter 16)
Oligopoly (Chapter 17)
Markets for Factors of Production (Chapter 18)
Other topics of interest as time permits