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Spring Semester 2005 |
Syllabus
Instructor: Kevin Biller
Edgewood College
Madison, Wisconsin
Spring 2005
Instructor
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Dr. Kevin Biller Office: 319 DeRicci Office Phone: 663-2808 |
E‑mail: biller@edgewood.edu http://socsci.edgewood.edu |
Office Hours
Office hours will be Tuesday and Thursday 1:00 to 1:50, Monday and Wednesday 10:00 to 11:30, and by appointment.
Textbooks
The required text for the course is Microeconomics‑16th edition, by McConnell and Brue.
Prerequisite
There are no prerequisites for Economics 256. Strong motivation to learn, a will to work hard, a sense of professionalism, and an absence of preconceived notions about economics courses would be most helpful. Please see the instructor before continuing in the course if you are lacking in any of the above-mentioned qualities.
Course Description
The course will survey the basic principles of microeconomics.
You will learn:
· how the market system operates to allocate resources and determine prices, production and social welfare.
· about the consequences of different market structures.
· the circumstances under which markets may fail to provide socially optimal results and the policy options for dealing with this failure.
These economic principles will be applied to an analysis of various current social issues including health care, crime, pollution, education, immigration, discrimination, international trade, poverty, income distribution and market power.
Evaluation of Student Performance
My system of examinations is designed to promote learning and generate optimal effort from the student. The primary determinant of your course grade will be your performance on nine examinations. The values assigned to these examinations are as follows:
Unit Examinations 7 exams @ 35 points each 245 points
Comprehensive final exam 55 points
Unit exams will be given in the last hour of class on the scheduled date. The Final exam will be comprehensive. Fifty percent of the final exam will be constructed with material taken from previous unit exams (with slight modifications). Each exam will consist of a combination of short-answer essay questions and problem solving. Multiple-choice questions are also possible.
General Notes on Examinations
Exam times will be approximately 11:10 A.M. Graded exams will be distributed at the end of class for the student's perusal and discussion. Please bring a number 2 lead pencil and your own eraser to all exams. You may want to bring a calculator as well.
Grading Scale
|
% of points possible |
grade |
|
93 |
A |
|
90 |
AB |
|
83 |
B |
|
80 |
BC |
|
73 |
C |
|
70 |
CD |
|
60 |
D |
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<60 |
F |
With exams, approximately 300 points will be possible for the course. Grades will be awarded based on cumulative scores on the scale to the right. A less rigorous scale may be used if warranted by class performance. It is also possible that each student’s lowest unit exam score will be given only half weight. This results in 285 points being possible for the course.
Timeline and Important Dates
|
Date |
Day |
Session |
Notes |
|
1-Feb |
Tuesday |
5 |
Unit One Exam |
|
15-Feb |
Tuesday |
9 |
Unit Two Exam |
|
1-Mar |
Tuesday |
13 |
Unit Three Exam |
|
15-Mar |
Tuesday |
17 |
Unit Four Exam |
|
7-Apr |
Thursday |
22 |
Unit Five Exam |
|
21-Apr |
Thursday |
26 |
Unit Six Exam |
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12-May |
Thursday |
Final |
Unit Seven Exam and Final Exam 10:00 A.M. |
Note: Exam dates are subject to change.
Course Outline/Reading Assignments
|
Unit |
TitleTopics |
Chapter |
Pages |
|
One |
When Markets Work IDecisions Faced by Every Society and the Market Answers Resource scarcity versus infinite possible wants Opportunity costs Demand and Supply Market equilibrium and market dynamics |
1 1A* 2 3 4 8 |
all: 3-14 15-21* 22-34 all: 39-58 all: 59-72 128-131 |
|
Two |
When Markets Work IIMarket functioning and social welfare in the short- and long-run Production and costs in the short- and long-run Demand Elasticity |
7 9 10
|
all: 112-127 all: 148-168 all: 169-193
|
|
Three |
When Markets Fail I Lack of Competition and antitrust policy Incomplete information Application: The Microsoft case |
11 12 19 |
all: 194-215 all: 216-239 354-361 |
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Four |
When Markets Fail II Spillovers and public policy to deal with them Application: Public Funding of Education Application: Pollution and Environmental Damage Application: Criminal Behavior |
5 17 8 |
79-83 314-328 147 |
|
Five |
The Fruits of Your Labor Labor Markets and Wage Determination Labor demand and wage differentials Labor supply and wage differentials Earning differentials by race and gender Application: Discrimination Application: Wages under competition and employer buying power |
14 15 22 |
260-268 all: 277-297 413-421 |
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Six |
The Appeal of Robin Hood: Issues of EquityIncome Distribution, Poverty Application: Health Care Application: Minimum Wage |
14 21 23 |
287-288 all: 387-405 all: 428-444 |
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Seven |
Getting Along With the NeighborsInternational Trade Why we trade What we trade Application: Protecting domestic industries and workers Application: Immigration |
22 24
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421-423 all: 446-466 |
*Appendix to Chapter 1 will not be covered in class, but should be reviewed by students desiring to be more confident of their graph reading skills.
Text is Microeconomics 16th Edition, by McConnell and Brue. Schedule
is subject to change. Additional material may be covered as time permits.
Pay close attention to assigned page numbers.
Class Policies Biller
Attendance A seating chart may be made from the class roster to assist the instructor in learning names. Attendance will be taken periodically. As professionals, or soon-to-be professionals, you are expected to attend every class meeting. Students will be treated as adults and are expected to act as such. This means that an occasional absence is understandable. Excessive absences or tardiness will be viewed as irresponsible action and considered grounds for grade reduction, possible withdrawal from class, and/or assignment of a failing grade.
You are expected to be in class mentally as well as physically. This means stay awake and pay attention. Speak up! Participate! Don't sit there like a lump!
Homework/Quizzes Written homework assignments and quizzes (announced or unannounced) can be given at the instructor's discretion. Quiz and homework points are usually treated as bonus points in the determination of the student's semester grade but may be added to the total points possible for the course and thus, treated as required work. No opportunities will be provided for individual extra credit.
Grading Standards for Written Work Initially, all written work (homework, class assignments or exams) will be graded on content. Poor writing skills or penmanship will influence your content score indirectly to the extent that they inhibit the student’s ability to communicate effectively. The instructor may judge the presentation of written work to be unsatisfactory. In this event, the student must rewrite and return the material within one week to receive credit for the content grade. Otherwise, a grade of zero (0) will be recorded for the assignment.
Drop Policy College drop policy will be followed. Pay close attention to deadlines for withdrawal. Always see your instructor about options before you drop a class.
Make-up Examinations
Make-up exams may be given under the following conditions:
1. The student should make every attempt notify the instructor of his/her inability to attend the regular exam session prior to the examination.
2. The student should provide written explanation for missing the test along with a request for a make-up exam.
3. Make-up exams will cover the same material as the regular exam. However, questions and format will be different. Make-ups will not contain flexible response choices often found on regularly scheduled exams. Make-ups will not contain bonus points often found on regularly scheduled exams
4. Make-ups will be given at the instructor's convenience at the end of the semester. This may be at the time of the final exam.
5. Students will be given only one opportunity for a make-up and will not be allowed to make-up more than one examination.
Late Work The instructor is not obligated to accept or give any credit for assignments turned in late. If it is accepted, penalties for late work will be determined at the instructor's discretion--count on losing at least a letter grade.
Early Exams Under no circumstances will exams be given to any individual student before the scheduled exam period.
Notification of Grades Grades may be posted by a non-personally identifiable number, provided the student has given written permission to do so (see Student Information Sheet). Final grades will be available via EdgeReg as soon as they are posted. Grades or grade information will not be provided via telephone or e-mail. Student requests to receive grades or grade information via telephone or e-mail will be denied or ignored.
Class session cancellation In the rare event the College is closed due to poor weather, announcements will be made on local media. If the instructor cancels a class session, every attempt will be made to post the cancellation on the Blackboard course website by one hour before class.
Appeal Scores of any written assignment or examination can be appealed by resubmitting the document and a written explanation of your answer and why you believe you should be given additional credit. Upon appeal, the entire document is subject to reassessment and re-grading.
Academic Dishonesty Any student caught cheating will be withdrawn from the class, given a failing grade, and recommended for dismissal from the college. Be aware that multiple versions are made of most in-class examinations and may be made for mid-term exams as well.