ECON 3070-001 Intermediate Microeconomic Theory
ECON 3070-001 Intermediate Microeconomics Syllabus Instructor: Unjung Whang Time: MWF, 10 - 10:50 AM in MUEN E432 Office: ECON 206 Office Hours: 10-11AM on Tuesday and 3-4:00AM on Wednesday and by appointment E-mail: [email protected] or [email protected] Course Website: Desire 2 learn - D2L, https://learn.colorado.edu/ Required Textbook: Microeconomics, by David Besanko and Ronald R. Braeutigam (At least 4th Edition) Course Objectives In this course, we deal with the behavior of individual economic units. These units include consumers, workers, business firms–in fact, any individual that plays a role in the functioning of our economy. Microeconomics explains how and why these units make economic decisions. We will explore how these individual decisions affect the supply and demand for goods and services. Prerequisites Principles of Microeconomics (Econ 2010) or Introduction to Economics (ECON 1000) and Mathematics for Economists I and II (ECON 1078 & 1088) or MATH 1300 or MATH 1310 or equivalent Grading Your course grade will be determined by adding the points you received the two mid-term examinations, the final, the homework, and the class participation. Your course grade will be calculated as follows: Midterm 1 Midterm 2 Problem Sets Final Participation 20% 20% 20% 30% 10% Important Note: Attendance will be taken daily and the participation will be based on your attendance. If you miss 12 or more of the scheduled regular class meetings, you will automatically fail this course. There are no exceptions to this rule, so you are totally responsible for all your missing classes. If you have any circumstances that you inevitably miss class, you have to let me know before the class. Examinations All exams will take place in the regular class room on the dates listed below. • Mid-term Examination 1: Oct 04 (Friday), Regular class hours, so you will have 50 minutes. • Mid-term Examination 2: Nov 11 (Monday), Regular class hours, so you will have 50 minutes. • Final Examination: Dec 16 (Monday) between 4:30 and 7:00PM You should consider these dates to be firm and put them in your schedule. If there is any change, it will be announced sufficiently in advance. There will be no make-up exam. Make-ups for any exam will be allowed under compelling circumstances. Any make-up exam will be taken prior to the actual exam date, so you are required to make prior arrangements before the exam date. Each exam will be composed of multiple choice and short answer questions. You should bring your simple calculator to the exam. Exam questions will be based on material covered in lecture and the problem sets. I will distribute the mock exam before the test. Note that if you have 3 or more final examinations on the same day, they can arrange to take the Last Exam scheduled that day at an alternate time. It is their responsibility to notify you no later than six weeks into the semester and they must provide proof that you are administering their 3rd, 4th, or 5th exam of the day. Homework: There will be five problem sets but only the best four will be counted. The maximum score on each assignment will be 100 points. You could discuss homework questions with other students but you should turn it in with your own work. Due dates for each homework will be announced in advance and no late assignment will be accepted. Participation: This will be based on your attendance and your participation during class. Grading Scale Your Score 93-100% 90-92% 87-89% 83-86% Grade A AB+ B Your Score Grade 80-82% B77-79% C+ 73-76% C 70-72% C- Your Score 67-69% 63-66% 60-62% ≤ 59% Grade D+ D DF Date Topics Aug 26 (M) Aug 28 (W) Aug 30 (F) Sep 02 (M) Sep 04 (W) Sep 06 (F) Sep 09 (M) Sep 11 (W) Sep 13 (F) Sep 16 (M) Sep 18 (W) Sep 20 (F) Sep 23 (M) Sep 25 (W) Sep 27 (F) Sep 30 (M) Oct 02 (W) Oct 04 (F) Oct 07 (M) Oct 09 (W) Oct 11 (F) Oct 14 (M) Oct 16 (W) Oct 18 (F) Oct 21 (M) Oct 23 (W) Oct 25 (F) Oct 28 (M) Oct 30 (W) Nov 01 (F) Nov 04 (M) Nov 06 (W) Nov 08 (F) Nov 11 (M) Nov 13 (W) Nov 15 (F) Nov 18 (M) Nov 20 (W) Nov 22 (F) Nov 25 (M) Nov 27 (W) Nov 29 (F) Dec 02 (M) Dec 04 (W) Dec 06 (F) Dec 09 (M) Dec 11 (W) Dec 13 (F) Reviewing syllabus & Math Review Math Review Math Review No class (Labor Day) Supply and Demand Analysis Supply and Demand Analysis Supply and Demand Analysis Preferences and Utility Preferences and Utility Preferences and Utility Consumer Choice Consumer Choice Consumer Choice The Theory of Demand The Theory of Demand The Theory of Demand Review for the first mid-term Midterm Exam 1 Inputs and Production Functions Inputs and Production Fuctions Inputs and Production Fuctions Costs and Cost Minimization Costs and Cost Minimization Costs and Cost Minimization Cost Curves Cost Curves Cost Curves Perfectly Competitive Markets Perfectly Competitive Markets Perfectly Competitive Markets Perfectly Competitive Markets Perfectly Competitive Markets Review for the second mid-term Midterm Exam 2 Competitive Markets: Applications Competitive Markets: Applications Competitive Markets: Applications Monopoly and Monopsony Monopoly and Monopsony No Class (Fall Break) No Class (Fall Break) No Class (Fall Break) Monopoly and Monopsony Capturing Surplus Capturing Surplus Capturing Surplus Final Exam Review 1 Final Exam Review 2 Chapter Chapter Chapter Chapter Chapter Chapter Chapter Chapter Chapter Chapter Chapter Chapter Chapter Assignments 2 2 2 3 3 3 4 4 4 5 5 5 P.S. 1 P.S. 1 Due P.S 2 P.S. 2 Due Chapter Chapter Chapter Chapter Chapter Chapter Chapter Chapter Chapter Chapter Chapter Chapter Chapter Chapter 6 6 6 7 7 7 8 8 8 9 9 9 9 9 P.S 3 P.S. 3 Due P.S. 4 P.S. 4 Due Chapter Chapter Chapter Chapter Chapter 10 10 10 11 11 Chapter Chapter Chapter Chapter 11 12 12 12 P.S. 5 P.S. 5 Due Other Information: Student with Disabilities The Department of Economics will make reasonable accommodations for persons with documented disabilities. Students must notify their instructors no later than the end of the first week of term, and provide documentation of the disability obtained from Disabilities Services, N200 Center for Community, 107 CU-Boulder, Boulder, CO 80309-0107; 303-492-8671 Voice/TTY; 303-492-5601 FAX. Religious Observances Campus policy regarding religious observances requires that faculty make every effort to reasonably and fairly deal with all students who, because of religious obligations, have conflicts with scheduled exams, assignments, or required attendance. If you have a conflict due to a religious obligation, please see me at least one full week in advance so that alternate arrangements can be made. Policies regarding religious practice are available at www.colorado.edu/policies/fac relig.html. Classroom Behavior Students and faculty each have responsibility for maintaining an appropriate learning environment. Students who fail to adhere to such behavioral standards may be subject to discipline. Faculty has the professional responsibility to treat all students with understanding, dignity and respect, to guide classroom discussion and to set reasonable limits on the manner in which they and their students express opinions. Professional courtesy and sensitivity are especially important with respect to individuals and topics dealing with differences of race, culture, religion, politics, sexual orientation, gender variance, and nationalities. Class rosters are provided to the instructor with the student’s legal name. I will gladly honor your request to address you by an alternate name or gender pronoun. Please advise me of this preference early in the semester so that I may make appropriate changes to my records. Polices regarding classroom behavior are available at www.colorado.edu/policies/classbehavior.html and at http://www.colorado.edu/studentaffairs/judicialaffairs/code. Discrimination and Harssment The University of Colorado Policy on Sexual Harassment and the University of Colorado Policy on Amorous Relationships applies to all students, staff, and faculty. Any student, staff or faculty member who believes s/he has been the subject of discrimination or harassment based upon race, color, national origin, sex, age, disability, religion, sexual orientation, or veteran status should contact the Office of Discrimination and Harassment (ODH) at (303) 492 2127 or the Office of Judicial Affairs at 303-492-5550. Information about the ODH and the campus resources available to assist individuals regarding discrimination or harassment can be obtained at http://www.colorado.edu/odh. Academic Misconduct All students of the University of Colorado at Boulder are responsible for knowing and adhering to the academic integrity policy of this institution. Violations of this policy may include cheating, plagiarism, aid of academic dishonesty, fabrication, lying, bribery, and threatening behavior. All incidents of academic misconduct shall be reported to the Honor Code Council. [email protected], 303-725-2273. Students who are found to be in violation of the academic integrity policy will be subject to both academic sanctions from the faculty member and non-academic sanctions (including but not limited to university probation, suspension, or expulsion). Other information on the Honor Code can be found at www.colorado.edu/policies/honor.html and at www.colorado.edu/academics/honorcode.