Microeconomics Syllabus - Spring 2002

MICROECONOMICS COURSE REQUIREMENTS AND SYLLABUS

Spring 2002

I.   GENERAL INFORMATION:

Name of Professor:      SAFIUL HUDA

Course Number:          ECON-2020

Course Subject:           MICROECONOMICS

Office:                          Room 3088, Knight [Warwick] Campus, CCRI

e-mail                           shuda@ccri.edu

Office hours:              M: 2:00PM – 4:00PM

      T: 10:00AM – 12:00 noon

     W: 2:00PM – 7:00 PM

These meeting times are not inflexible; please feel free to arrange a mutually convenient time to meet whenever you need to.

Evening classes: Please meet me before and after class and during breaks, if any. I may go to the Library or cafeteria if I see no one waiting for me before class. Please feel free to come and get me from these places.

Required Skills:

Verbal: the ability to read with comprehension formal, written English.

Mathematical: the ability to add, subtract, multiply and divide in whole numbers, fractions and decimals; the ability to use algebra to solve problems – that is, set up and solve simple equations; elementary knowledge of geometry and the ability to plot points and draw a graph. Overall, then, basic mathematical skills.

Behavioral:

Discipline: the ability to set aside about one hour or more [see "Self- assessment" below] per hour of class time to read the textbook, go over notes taken in class and bring them up to final form and to complete any assignments given.

Temperament: the ability to display a professional attitude and behavior showing respect for and co-operation with classmates; being reliable and willing to work calmly and courteously even under difficult conditions; having the self respect to achieve the highest standards of work even while meeting deadlines; the ability to accept and constructively respond to criticism.

II. TEXT: PRINCIPLES OF MICROECONOMICS, Fred Gottheil, 3rd edition, South-Western, 2002.

III. Most important requirement : Understand the material.

IV. Self-assessment :

Assess for yourself how much effort you need to put into this class to get the grade you want from this class. Each one of us has a different style of learning needing different amounts of time commitment.

V. Buddy System:

Join 2 or 3 other people to form a support group. Members of a group must stay in contact so that if a member is absent from class, he/she:

  • is appraised of what was covered in class;
  • receives a copy of any handout or assignment given out in class;
  • etc.
  • VI. EXAMINATIONS:

    There will be:

    • 3 In-Class Tests;

              If you miss any of these,

    • 1 Final, comprehensive, Exam.

    Each In-Class Test will be composed of multiple choice and true-or-false types of questions, be answered by marking the appropriate letters on a Scan-torn sheet with a #2 pencil, have a time limit of 50 minutes, cover topics taught in the weeks preceding the In-Class Test. For example, the 2nd In-Class Test will cover material taught from the day after the 1st In-Class Test till the day before the 2nd In-Class Test. There might be some overlap.

    Only those who have missed one of the In-Class Tests must take the Final Exam. The Final Exam will cover everything taught during the semester. It will consist entirely of multiple choice and true-or-false types of questions. The questions are to be answered by marking the appropriate letters on a Scan-tron sheet with a #2 pencil. The Final Exam will have a time limit of 2 ½ hours.

    In-Class Tests will be announced a week in advance. The Final Exam will be given during Finals Week at the end of the semester. The Final Exam for this class will be held on February 8 at 6  PM in room 2560 .

    You are allowed only ONE makeup exam. The Final Exam is the makeup exam.

  • In-Class Test #1 – after Chapter 5 on Chapters 1 to 5.
  • In-Class Test #2 – after Chapter 8 on Chapters 6 to 8.
  • In-Class Test #3 – after Chapter 18 on Chapters 9 to 18.
  • Final Exam – in Finals Week – all Chapters.
  • VII. GRADING:

    All students will end up taking 3 exams during the semester. For those who do not miss any In-Class Tests, the best In-Class Test Score will count for 40% and the two other tests will together count for 60% [30% each] of their Final Grade. For those who take two In-Class Tests and a Final, the Final will count for 40% of their Final Grade and the two In-Class together for 60% [30% each] of their Final Grade.

    An all-correct Test/Exam will earn a score of 100%.
    Scores in Tests and the Final Exam will count for your Final Grade in the following way:

    i. For those who take all In-Class Tests:

  • Final Grade = (0.4) ΄ (Best In-Class Test Score) + (0.3)( sum of other 2 In-Class Test Scores)
  • ii. For those who miss an In-Class Test and take the Final Exam

    • Final Grade = (0.3) ΄ (sum of the 2 In-Class Test Scores) + (0.4) ΄ (Final Exam Score)

    If your Final Grade is

    90 or more, you will earn an "A" letter grade for the course,
    80 to 89.99 , you will earn a "B" letter grade for the course,
    70 to 79.99 , you will earn a "C" letter grade for the course,
    60 to 69.99 , you will earn a "D" letter grade for the course,
    59.99 or less, you will earn an "F" letter grade for the course.

    To help you do well:

    You will be given a "Cheat Sheet" called "Notes For Use During Microeconomics Exams" that you may use during all Tests and the Final.

    You will be given Practice Questions to try at home.

    VIII. ATTENDANCE:

    Since the subject matter of each class will be based on that covered in the previous class, if you miss a class, you will feel lost. If you miss a key class, you may never be able to catch up and, indeed, may keep falling farther and farther behind for the rest of the semester. The inevitable realization that your grade is going to be much lower than it could have been, will lead to frustration. This frustration may, in turn, lead to the need to put the blame on somebody else. That somebody is usually the professor and lots of blame will be heaped upon him. However, your grade will not change.

    If you cannot avoid missing a class, make sure to meet with me and go over the material that was covered in the class you missed. If you cannot meet me soon, go over the material with someone in your class. See "Buddy System" above.

    If you miss a class and there is an exam given in that class, you will not receive a grade for that exam. [Reminder: there will not be any make up exams given; you can miss ONE In-Class Test and take the Final Exam in its stead].

    If you miss a class and there is a handout given to students in that class, one of your "buddies" [see "Buddy System"] should collect it in class on your behalf.

    IX. WITHDRAWAL POLICY:

  • A student who wishes to withdraw from the course must obtain a withdrawal form from the registrar’s Office, fill in and sign the form, obtain the instructor’s signature and return the form to the Registrar’s Office. The last day to drop classes without prejudice is April 8, 2002 .
  • X. MODIFICATIONS:

    I reserve the right to reasonably modify the course requirements, assignments, questions, composition of exams, grading procedures or other related policies as circumstances may require.

    XI. COURSE OVERVIEW:

    Definitions; Causal Relationships Between Variables; Circular Flow Model; PPC; Markets; Elasticity; Utility Theory; Productivity and Cost Theory; Pricing and Output under Competitive and Noncompetitive Market behavior; Factor Productivity and Factor Prices.

    XII. COURSE OBJECTIVES:

    To familiarize the student with key economic concepts [that will help him/her to make everyday decisions] by studying the market system.

    XIII. SYLLABUS: TOPICS AND ASSIGNED TIME FRAMES: [Tentative Schedule]

    Chapters 1 to 18 at a rate of two chapters per week most weeks.

    In-Class Test #1 – after Chapter 5 on Chapters 1 to 5.

    In-Class Test #2 – after Chapter 8 on Chapters 6 to 8.

    In-Class Test #3 – after Chapter 18 on Chapters 9 to 18.

    Final Exam – in Finals Week – all Chapters.

    Topics and the pages they are covered in:

    Definitions: Chapter 1: pp. 2 – 13 and pp.17 – 23.
    PPC: Chapter 2: pp. 24 – 39.
    Markets: Chapter 3: pp. 44 – 62.
    Elasticity: Chapter 4: pp. 74 – 95.
    Utility Theory: Chapter 5: pp. 100 – 110, pg. 113 and pp.119 - 124.
    Chapter 6: just read. Business Organization:
    Chapter 7: pp. 149 – 151 – read + class notes.
    Costs: Chapter 8: pp. 169 – 184
    Maximizing Profits: Chapter 9: pp. 198 – 213.
    Market Structure: Chapter 10: pp. 218 – 238.
    Monopoly: Chapter 11: pp. 244 – 247, [Ch.8: pp. 184 – 191; Ch. 10: pp.226- 230];
    Monopolistic Competition:  Chapter 10: pp. 230 - 235; Chapter 11: pp.248 –250.
    Perfect Competition: Chapter 10: pp. 235 - 238; Chapter 11: pp. 250 - 265.
    Oligopoly: Chapter 10: pp. 230 - 235; Chapter 12: pp.270 - 280, pp. 280 - 284 read, pp. 284 - 288, pp. 288 - 293 read.  Chapter 13, pp. 299 – 312 read; pp. 312 - 314 + class notes.
    Externalities: Chapter 14, pp. 326 – 342 – read + class notes.
    Labor Markets: Chapter 15, pp. 349 – 361, pp. 361 - 371 read once.
    Interest, Rent, Profit: Chapter 17, pp. 401 – 417 – read once + class notes.
    Income Distribution: Chapter 18, pp. 423 – 445 – read once + class notes.

    XIV. SUMMARY:

    Course: Econ 2020, Microeconomics
    Text: Principles of Microeconomics, Fred Gottheil, 3rd edition, South-Western, 2002.
    Exams: 3 altogether: 3 In-Class, or, 2 In-Class plus a comprehensive Final Exam. Allowed to use "Cheat Sheet" and calculator for all tests.  Remember to bring a #2 pencil for In-Class Tests.
    Grading: Final Grade:

    • For Someone Taking all 3 In-Class Tests :
      Final Gr
      ade = (0.4) ΄ (Best In-Class Test Score) + (0.3)( sum of other 2 In-Class Test Scores)
    • For someone taking the Final Exam:
      Final Grad
      e = (0.3) ΄ (sum of the 2 In-Class Test Scores) + (0.4) ΄ (Final Exam Score)

       

    Attendance: If you don’t attend, you will fall behind. Get notes/handouts from "buddy" if you miss a class.

     

     

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    This page developed and maintained by Professor Safiul Huda  at CCRI. Send comments and suggestions to shuda@ccri.edu © 2001, Community College of Rhode Island - All rights reserved.

    This page last modified 10/04/2004