Book chapter files (1,2, and 3) Class Lecture (Chp. 1) Class Lecture (Chp. 2) Class Lecture (Chp. 3)
Room:
MITCH 121
Time: T 5:30-6:15pm, Th 5:30-615pm
Link to Syllabus Word Doc.
Instructor: Steven Archambault
Office: Econ 1046
E-mail:
sarchamb@unm.edu
Phone: 277-3141
Blog Office Hours: M 4-5, Th 3-4 (or by appointment)
Website Home
Course
Description: This course uses
microeconomic tools to analyze economic issues and the decisions made by
consumers and producers. Additionally, the assumptions and arguments underlying
these tools are examined in intermediate microeconomics. For example, we
are not just interested in knowing that increases in the price of apples
increases the number of orchards devoted to apple production. We are also
interested in knowing what alternatives are available to the owners of orchards
when deciding how to use their land; how those decisions are made; and what
other factors can affect the decisions made. Formally, we are interested in
the motivations of, and constraints faced by decision makers. We will cover
supply and demand analysis, theory of the consumer, theory of the firm, and
market structures. We will touch on welfare economics and competitive strategy
(as time permits).
Objectives: Although we will use fairly simple math concepts,
this course is very analytical in nature. You will be expected to understand every step in the
concepts we develop. Furthermore, by the end of this course you will be
expected to be able to construct and critically analyze multiple step problems.
The hope is that you see the relevance and application of microeconomic theory
in real life situations and decision-making. Years from now (when you've
probably forgotten the details we cover) the payoff from taking this course will
probably be your enhanced ability to think and argue in a rigorous manner.
Specifically, by the end of the course, you should be able to
Textbook (required):
Microeconomics, 6th Edition by Robert S. Pindyck and
Daniel L. Rubenfeld
Online Course Compass (required) Online
Course ID: archambault43174 http://www.coursecompass.com/
The
Online Course Compass comes with a brand new book from the bookstore, or can be
purchased online with a credit card for $20.08. This is a requirement for the
course. You will complete assignments and find review materials through Course
Compass.
Exams and Grading:
Three Midterms (top two will count):
25 % each
Final: May 6
30 %
Assignments:
15
%
Participation (including online blog):
5 %
Grades will be assigned as follows. A+ 98-100%, A
93-97%, A- 90-92%, B+87-89%, B83-86%, B-80-82%, C+77-79%, C73-76%, C-70-72%,
D+67-69%, D63-66%, D-60-62%, F below 60%
If you miss a midterm for
a valid reason, and provide documentation to support the reason given, you may
take a makeup exam at a time convenient for the instructor. Any material
presented in lecture or assigned in the readings is fair game for the exams.
Most of the exam questions will be short-answer questions and problems to be
worked out. There will be very little multiple-choice on exams. The exams may
take place in a different, less crowded classroom. I will keep you posted.
There will be three midterms. The third midterm
might be a writing assignment, but this has not been decided yet. There will be
approximately 100 points possible for each exam. Only your top two midterm
scores will count, each making up 25% of your final grade.
Everyone will
be required to take the final on Thursday, May 15th 5:30-7:30. This
will be a cumulative final. There will be 100 points possible for the final, but
this will carry more weight than the midterm exams (35%).
Assignments
The best way to learn economics is by doing.
Therefore it is in your best interest to work through as many problems as
possible. There are many practice questions in the textbook and through the
Course Compass. There will be weekly assignments that correspond with the
material in the readings and lectures. You will complete these both online and
on paper to turn in. Assignments will not always have the same number of points
possible, but all of the assignments will make up 15% of your semester grade.
Late assignments will have points deducted. Any assignment more than a week late
will not be counted.
Your
course grade will also depend on your level of participation in class through
the online blog. These points are rather subjective, but it is my expectation
that you find economics interesting and are willing to share your opinion and
ask questions. I expect everyone to add comments or post topics approximately
once per month during the semester. The participation will count towards 5% of
your total semester grade. http://archecon.blogspot.com/
Blog
In
order for you to be able to post messages to my blog (http://archecon.blogspot.com/),
I need to send you an invitation via email. I will ask for your email address on
the first day of class, and then promptly send out the invitations. The blog
requires you to use or obtain a gmail address (the directions will be sent to
you). If you have any problems signing up, feel free to ask me.
I
expect Blogs to be in the nature of microeconomics. Its okay if political or
other personal views (such as religion) are discussed in the blog, as long as
there is a connection to economics. I also require that people respect one
another’s views. I will delete any posts that do not adhere to this. Also, I
have the right to end discussions if necessary. I might do this if discussions
get to far off the topic of economics!
Tentative Course Outline
Jan. 21-23: Chapter 1: Introduction: Markets and
Prices and Chapter 2: The Basics of Supply and Demand
Jan. 28-30: Chapter 2 and Chapter 3: Consumer
Behavior (HW 1 due)
Feb. 5-7: Chapter 4: Individual and Market Demand
(HW 2 due)
Feb. 12-14: Chapter 4, Review, and Exam 1
(HW 3 due, Exam 1)
Feb. 19-21: Chapter 6: Production
Feb. 26-28: Chapter 7: The Cost of Production (HW4
due)
Mar 4: Chapter 8: Profit Maximization and
Competitive Supply (HW 5 due)
Mar. 4-6: Chapter 9: The Analysis of Competitive
Markets (HW 6 due)
Mar. 11-13: Chapter 9, Review, Exam 2 (HW 7
due)
Mar. 18-20 No Classes, Spring Break
Mar. 25-27: Chapter 10: Market Power Monopoly and
Monopsony
Apr. 1-3: Chapter 11: Pricing with Market Power (HW
8 due)
Apr. 8-10: Chapter 12: Monopolistic Competition and
Oligopoly (HW 9 due)
Apr. 15-17: Chapter 12, Review, Exam 3 (HW
10 due)
Apr. 22-24: Chapter 14: Markets for Factor Inputs
and Chapter 15: Investment, Time, and Capital Markets
Apr. 29-May 1: Chapter 18: Externalities and Public
Goods (HW 11 due)
May 6-8: Review (HW 12 due)
May 15 Final 5:30-7:30
*The instructor reserves the right to add or
subtract to this course outline.
Important Dates:
-Last Day to add a 16-week course Feb 1st
-Last Day to change a
grading option for a 16-week course Feb 15th
-Last Day to drop a
16-week course without a grade Feb 29th
-Last Day to withdraw
from a 16-week course without approval of college dean April 18th
-Last
day to withdraw from a course with approval of college dean May 9th
-Final Thursday, May 15th 5:30-7:30
Cheating Policy
It is
very important for your academic success to put in the time and energy necessary
to learn the material covered in this course. I also believe there is personal
gratification in mastering subject matter, but this does not come without hard
work. This is why I take the academic dishonesty policy very seriously.
If you
are caught cheating on an exam, you will be heavily penalized, with the
potential of getting a zero on the exam. I also consider copying another
person’s homework assignment as cheating. I welcome other students to speak
with me confidentially if they feel they feel somebody is cheating. Somebody who
unfairly gets a higher grade will decrease the potential for a curve that
benefits all. All University policies of academic dishonesty will be followed in
this course. If you are interested, see this web link. http://www.unm.edu/~doso/DOSJAProce.htm
Accessibility
(for students with disabilities)
If you have a condition that requires accommodation in this course, please speak
with me after class or in office hours during the first week of class. I will be
happy to make appropriate accommodations provided timely notice is received and
the arrangement is consistent with any recommendations from Disability Services,
when applicable. http://as2.unm.edu/facultyhandbook.html