Basic
Microeconomics
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ECEU1200
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Dr. Gwendolyn Alexander
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Summer Session
1, 2002
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Tel: 718-817-3636
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Office:
E-520 Dealy Hall
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Email:galexander@fordham.edu
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Office Hours: 4
– 5 PM on class days
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http://www.fordham.edu/economics/alexander/eceu1200
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Required
Text:
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Mankiw,
Gregory. Principles of Microeconomics, 2nd Edition.
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Excerpts from Theodore Bergstrom and
John Miller's Experiments with Economic Principles, available in the
Reserves Room or on ERes.
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Recommended
Text:
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Study
guide to accompany the text.
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I
have seen this on-line at Barnes & Noble for $35.50 new or $24 used. The
usefulness of this study guide will depend on how much extra time you devote
to economics. While the problem sets and the text provide plenty of
great study questions, some students find that more practice is very helpful.
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Overview
This course will offer an
introduction to the field of economics by examining the behavior of individuals
and firms under different market structures, the government's role in designing
economic policies, and the problems of poverty and discrimination. We
will discuss economic theories, which are sometimes abstract, and then we will
learn how these theories are applied to the real world. In order to
further understand how these economic principles govern our everyday actions,
students will take part in classroom experiments in which they will see how the
economic concepts we cover in class influence our decision making processes.
Grading
The final grade will be
determined as a combination of the following:
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Midterm
exam
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30%
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Final
Exam
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30%
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Lab
Reports
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20%
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Quizzes
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10%
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Class
Participation
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10%
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Attendance
Your presence in class is
required--both physically and mentally.
- We only meet 15 times, so your attendance is absolutely
necessary. Any student with more than three unexcused
absences will receive an F in the course.
- Please come to class prepared! You should check
the class outline and read what we are going to cover before
you come to class. This class moves QUICKLY, so you'll need to keep
on top of things.
- If you miss a class, it is your responsibility to find
out what you have missed.
Exams
- The exams are based mainly on problem sets that we will
try in class and the concepts that we cover. The more practice
problems you do, the more you will be prepared for the exam. The
study guide for the text is a good place to find extra problems.
- There is also a practice exam available here. I am also providing
answers, but I strongly urge you to try to solve the
problems before you take a look at the answers. Answers are
available here.
- The final exam is not cumulative. It will test you
on material that we have learned after the midterm.
- There is also a practice final exam available here. I am also providing answers, and
again, I strongly urge you to try to solve the problems
before you take a look at the answers. Answers are available here.
Problem
Sets
- Problem
sets are available on-line and are meant to prepare you for the
exams. We will do some practice problems in class, but the more you
practice, the better prepared you will be.
- Problem set Answers will be
made available on this website. I will put up answers a couple of days
after we cover the material, in order to give you time to struggle with
these on your own.
In-class
Economic Experiments
- All students will take part in five economic experiments
that will be held in class. Each student will need an Experiment
Guide, which you can obtain from ERes or the Reserves Room in Walsh
Library.
- Each class experiment will have an associated Lab
report which will be due at the beginning of class the day after the
Experiment was done in class.
- If you miss class on a day in which we are having an
Experiment, you must have a valid and verifiable excuse for missing
class. If this criterion is satisfied, you may turn in the lab
report for credit, but must obtain the data from me to do so. If
possible, I will make this information available on my website. The
lab report will be due at the same time as the rest of the students.
Quizzes
- Again, this class moves quickly
therefore, we will have daily quizzes to keep up with the basic material.
- Quizzes will be worth 10 points each
and will be taken during the first ten minutes of every class (with the
exception of the first class, the midterm, final and the day after the
midterm). If you are late and miss a quiz, you will not be given the
opportunity to make it up.
- There are 11 quizzes over the course
of the summer session. I will drop the two lowest quiz scores in
determining your final quiz grade.
Course Outline
(Subject to
Revision)
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Tuesday
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Wednesday
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Thursday
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May
28 - 30
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Chapter
1: Ten Principles
of Economics
and
Chapter 2: Thinking like an economist
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Chapter
3: Gains from
Trade
and
Chapter 4: Demand and Supply
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Finish Chapter 4: Market Equilibrium
and
Chapter 7: Consumers,
Producers & Efficiency
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June
4 - 6
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Experiment
1: An Apple
Market
and
Chapter 5: Elasticity
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Chapters
6 & 8:
Government Policies
and
Experiment 5: The Minimum Wage
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Experiment
4:
Prohibition
and
Chapter 10: Externalities
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June
11 - 13
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Chapter
11: Public Goods
and Common Resources
and
Review for Midterm
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Midterm Exam
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Chapter
13:
Costs of Production
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June 18-20
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Experiment
10: Paper
Airplane Factories
and
Chapter 14: Firms in Competitive Markets
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Experiment
8: Entry &
Exit
and
begin Chapter 15: Monopolies
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Chapter
15:
Monopoly
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June 23-25
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Chapter
16: Oligopoly
(not game theory)
and
Chapter 17: Monopolistic Competition
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Chapter
16: Game
Theory
and
Chapter 19: Earnings and Discrimination
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Final Exam
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