PRINCIPLES of MACROECONOMICS - Misweb - Mississippi State ...

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Oct 28, 2013 (3 years and 5 months ago)

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PRINCIPLES OF M
I
CROECONOMICS


Economics 21
23
-
001

May
20
1
2



Instructor:

Randall C. Campbell

Office:


310E, McCool Hall

Phone:


325
-
1516

Office Hours:

M
-
F
1
:30
-
3
:
0
0 and by appointment

Email:


rcampbell@c
obilan.msstate.edu

Web page:

http://misweb.cbi.msstate.edu/~COBI/faculty/professor.shtml?rcampbell


Required Text:


Hubbard, R.G., and O’Brien, A.P. (20
1
0
),
Microeconom
ics
,
3
rd

Ed.




****
With MyEconLab


see attached


[Prices: Online access to MEL = $
50


Purchase
hard copy of
book

online = $
55
]


Purchase book/Exercises:

http://www.myeconlab.com








Note: You will do HW ass
ignments by clicking “Quizzes and Tests” in MyEconLab


Required:


F
OUR

(
4
): BLUE
SCANTRON

SHEETS

-

$0.30 each

[Campus Bookmart]


Recommended:


Blanchard
,
K
. (20
1
1
)
Study Guide
:

Principles of M
i
croeconomics,
3
rd

Ed
.

by
Hubbard/O’Brien



Prerequisites:


EC
2113 and s
ophomore
s
tanding



Grading


Course grades will be based on homework (10%), three midterm exams (20% each) and a
comprehensive
final exam (30%).
Tentative
dates
for these exams are given below:


MyEconLab

Exercises

an
d Quizzes






20 points

E
xam #1 (
Tuesday,

May

1
5
)






40

points

Exam #2 (
Tuesday
,
May 22
)





40

points

Exam #3 (
Tuesday
,
May
29
)





40

points

Final Exam (
Friday
,
June 1
,
9:30
-

1
2
:00)




6
0

points








20
0 points total



Homework Due Dates


Ch. 1:
Thurs
,
May 10


Ch.
4
:
Th
urs,

May 17


Ch. 1
2
:
Thurs
,
May 24


Ch. 2:
Thurs,

May 10


Ch.
8
:
Thurs
,
Ma
y

17


Ch. 1
3
:
T
hurs
,
May 24


Ch. 3:
Mon
,
May 14


Ch.
10
:
Mon
,
May 21


Ch. 14:
Fri,

May
25


Ch.
6
:
Mon
,
May 14


Ch.
11
:
Mon
,

May 21


Ch. 1
6
:
Fri
,

May
25




ALL ASSIGNMENTS ARE DUE AT
9
:00
P
M













Note: The Final Exam will be comprehensive.
There will be no make up exams under any circumstances
. An exam that is missed will be
considered a zero,
unless
your instructor is notified
prior
to the exam and the excuse is a legitimate

medical one or is officially approved.
Exams that are missed for excused reasons will not be retaken, but additional weight will be given to the final to compensate
.
Everyone
must take the final.


Mississippi State University has an approved Honor Cod
e that applies to all students. The code is as follows:



"As a Mississippi State University student I will conduct myself

with honor and integrity at all times. I will not lie, cheat,


or steal, nor will I accept the actions of those who do."


Upon accept
ing admission to Mississippi State University, a student immediately assumes a commitment to uphold the Honor Code, to accept

responsibility for learning, and to follow the philosophy and rules of the Honor Code. Students will be required to state the
ir co
mmitment on
examinations, research papers, and other academic work. Ignorance of the rules does not exclude any member of the MSU communi
ty from
the requirements or the processes of the Honor Code. For additional information please visit:
http://www.msstate.edu/dept/audit/PDF/1207a.pdf





Although attendance does not count directly toward your grade, you are expected to attend each class. Please ask questions i
n class and
use the office hour
s given above. It is best to clear up any questions you have immediately since each new chapter builds on the material
covered in previous chapters.



Grading Scale


The grading scale is


A

1
7
0
-
200


(85% +)

B

1
5
0
-
1
69


(75
-
84.5%)

C

1
3
0
-
1
49 (65
-
74.5%)

D

1
1
0
-
1
29 (55
-
64.5%)

F

Less than 1
1
0


So that figuring your grade at any time is very transparent,
THERE ARE NO BONUS POINTS and NO CURVE. For example, 169 points
is not an A, it is 1 point AWAY FROM an A.



Course Description


Economics is the study

of how society chooses to allocate resources, which are scarce. In microeconomics we study the decisions of
individual economic agents, consumers and firms. We will study how markets facilitate resource allocation between these grou
ps. The
main objecti
ve of this course is for each student to be able to learn and apply the economic tools competently in order to analytically t
hink
through different issues faced outside of this classroom.


Economics requires analytical thinking. Many students have had litt
le practice using analytical thinking, though most students have lots
of practice memorizing. This makes economics very challenging for many students. You should be prepared to put in several ho
urs
each

week
working
through the material. Begin studying f
or the final today!





Course Outline


I.

Introduction to Economics


Chapter 1


Foundations and Models




May 9

Chapter 2


Comparative Advantage and the Market System


May 9
-
10


II.

The
Mar
ket System


Chapter

3



The
Interaction

of Supply and Demand



May 11

Chapter
6



Elasticity
: The Responsiveness of Supply and Demand

May 14



Exam #1:
May

1
5



Chaps. 1
-
3, 6



III.

Economic Efficiency and Government Intervention


Chapter
4



Government Price Setting and Taxes



May 15
-
16

Chapter
8



Comparative Advantage and th
e Gains from Trade


May 17


IV.

Production and Costs


Chapter
10



Technology, Production, and Costs



May 18


Chapter 11


Firms in Perfectly Competitive Markets



May 21




Exam #2:
May 22



Chaps.
4, 8, 10
-
11




V.

M
arket Structure and Pricing


Chapter 1
2



M
onopol
istic Competition




May 22
-
23

Chapter 1
3



Oligopoly






May 23

Chapter 1
4



Monopol
y






May 24


VI.

Resource Markets



Chapter 16


The Markets for the Factors of Production


May 25


VII.

Externalities


Chapter 5


Externalities, Environmental Policy, an
d Public Goods

May 25




Exam #3:
May

29



Chaps.
5,
1
2
-
14
, 16




Review







May 30



Final Exam:
Friday
,
June 1

(
9
:
30 AM



1
2
:00
P
M)


C
omprehensive