ECON 2010-020 Principles of Microeconomics

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ECON 2010-020 Principles of Microeconomics
University of Colorado at Boulder
Principles of Microeconomics
Econ 2010-020
Fall 2006
Instructor: Rachael Small
Office 4A Economics Building
E-mail: [email protected]
Office Hours: MWF: 2-3pm
Course website: http://www.colorado.edu/Economics/courses/Small/
Required text:
Microeconomics by McConnell/Brue, sixteenth edition.
Textbook website: www.mcconnell16.com
Use this website to practice problems and get help with understanding concepts.
Course Goals and Content:
By the end of the semester you should be able to:
• Apply economic reasoning and theory to the analysis of local, national and
international current events.
• Understand the four basic market structures, associated profit maximization
techniques, and business strategies related to various market structures.
• Possess mathematical, graphical and written analysis skills.
This course examines the fundamental economic problem of limited resources and
unlimited wants. It seeks to answer the “What is produced”, “How products are
produced” and “For Whom products are produced”-questions facing all societies. The
course examines the basic concepts of microeconomics, the behavior and interactions of
individuals, firms and government. Topics include how markets work, how they fail, and
how government actions affect markets.
As often as possible, class discussion will expand on the theory we are learning
by relating actual events to the theories presented in class. Students are encouraged to
contribute their ideas and opinions on these subjects.
A good strategy for this class is to read each chapter carefully before class and to
ask questions in class and during recitation. Use the text CD and the problem set
questions provided throughout the course to test your knowledge. Problem sets will be
posted on the website, and answers will be given only during recitation. If you don’t
understand an answer, ask the TA or myself. Visit us during office hours; we are here to
help you. Keep up! We cover a lot of material in this course and it is easy to get behind. I
encourage you to pick up the newspaper, listen to NPR and TV for economic news. You
will be surprised how much of the news relates to economics! Bring your ideas to class
and recitation and share them with us. We are always learning, and would like you to
join us in this process.
Check the course website frequently for class announcements, changes to the
course schedule, problem sets, and additional readings.
*Mid-term 1, Mid-term 2, recitation, each @30%
Final Exam
60% (the best two of the three scores)
35% (comprehensive) required to pass
*Students will be graded using the best two of the three grades given for Mid-term 1,
Mid-term 2 and recitation.
Grades are as follows: 90-100=A; 80-89=B; 70-79=C; 60-69=D; below 60=F
Plus and minus grades are given at the instructor discretion.
Students must attend recitation or they will not pass the course. Attendance at
greater than 60% is required to pass.
Recitation Grades:
4Quizzes @25%
Quiz Dates: Sept 20, Oct 11, Nov 1, Dec 6,
All exams will be multiple choice in format. Make sure you bring a #2 pencil to exams.
Exams may be taken only on the specified exam date and time. Due to the large number of
students in the class there will not be any make-up exams for any reason. If a student misses
an exam, the other two grades from the three possible grades (Mid-term1, Mid-term2,
recitation) will be used to calculate the course grade. All exams will be returned to students
during recitation, in person only. All exams will be held during class time in our regular
Students with Disabilities:
If you have specific disabilities that require accommodation, please let me know early in
the semester so that your learning needs may be appropriately met. You will be required
to provide documentation of your disability to the Disability Services Office in Willard
322 (telephone: 303-492-8671).
How to study for this course:
Read the chapter before the lecture. Do all the website and DVD problems after the
lecture. See the TA or myself during office hours if you do not understand a concept.
Keep up with your studying and do not let it “slide” or you will become overwhelmed.
Course Schedule –
This schedule may be changed as appropriate during the semester.
Aug 28,30, Sept 2
Chapter 1,2
Sept 4
Sept 6,8
Labor Day
Chapter 3,4
Sept 11,13,15
Sept 18,20,22
Chapter 5,6
Sept 25,27,29
Chapter 9.
The nature and Method of
Economics, The
economizing problem
Demand and Supply,
The market system
Elasticity of Demand and
The U.S. Economy, Private
and Public Sectors
The U.S. in the Global
The Costs of Production
Review for test
Oct 2
Oct 4
Oct 16,18,20
No Class
Mid-term 1
Chapter 10
Chapter 11,12
Chapters 12,13
Chapters 14
The Demand for Resources
Oct 30, Nov 1,3
Nov 6,8,10
Chapter 15
Chapter 17
Nov 13
Nov 15,17
Nov 20,22,24
Nov27,29, Dec 1
Dec 4,6,8
Mid-Term 2
Chapter 18
Thanksgiving Break
Chapter 24
Chapter 20,23
Dec 11,13,15
Chapters 21
Tues, December 19
Final Exam
Wage Determination
Government and Market
Chapters 10-15,17
International Trade
Economics of Agriculture
Health Care Economics
Income inequality and
Poverty, Review
Comprehensive Exam
Chapters 1-7,9
Pure Competition
Pure Monopoly
Monopolistic Competition
and Oligopoly, Technology
and Efficiency
6 Problem sets will be posted on the following days:
Sept 15, Sept 22, Oct 13, Oct 27, Nov 3, Dec 8
Problem sets are composed of approximately 20 multiple choice questions and are to give
you practice in the type of questions I will be asking on the exams. Problem sets are not
graded, and answers will be available only in recitation. (An incentive to attend)
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