INTERMEDIATE MICROECONOMICS
ECON 3070-005, FALL 2004
COURSE SYLLABUS
Instructor:
Sergey Makarevich
Office
Hours: Tue
Office: ECON 309C
Office
Phone: (303) 492-7195
Email: makarevs@colorado.edu
Website: ucsu.colorado.edu/~makarevs/3070-5-Fa04
Class Room: ECON 119
Class Days/Times: MWF
Pre-requisites
Currently Econ 3070 has a pre-requisite of ECON 1000
or 2010 and either ECON 1078-1088 or MATH 1300 or equivalent. The latter
courses teach basic algebra and calculus (differentiation and integration).
These pre-requisites will be strictly enforced through the administrative drop.
Moreover, if you had these taken
several years ago (or just managed to “surf” through them), you still may find
it difficult, although not impossible, to keep up with and get a satisfactory
grade in this course, unless you put a significant effort in reviewing (or
learning, if necessary) the basic differentiation and integration. There will be a brief review of the relevant math in
the beginning of the course.
Course Philosophy
Both students and instructor benefit when the students
come to the class prepared – having an idea about the material which we will
discuss in class. The textbook is the MAIN source of your learning in this
course. A class time will be devoted to just a cursory review of the material
and thorough work through the examples and student question, sometimes – news
analysis. See recommended Learning Cycle below.
The course is a backbone of all your higher level
economic courses. The analysis of individual behavior of consumers and firms,
as well as their interaction in the markets, supported with thorough
mathematics-based intuition, will serve you well beyond you university time. It
will be hard but doable. If you cannot devote 2 hours a working day to this course
outside of the classroom, you may be better off choosing another section.
Student – Instructor Communication
I am available during office hours and private
appointments to assist you. However, before you come to see us, make sure that
you are adequately prepared, this means that you have read the part of the
chapter discussing the material that you do not understand, and have at least
attempted the homework or worksheet problems that you have questions about.
Some minor questions can be answered over the email.
I am usually quick to respond.
Study Materials
Required Text. Microeconomics. An Integrated Approach. David
Besanko, Ronald R. Braeutigam, John Wiley and Sons, Inc., 2002.
Available in the bundle with “Big Picture” set of enlarged graphs for the
course or separately. THE MAIN RESOURCE OF THE COURSE
MATERIAL.
Aplia Courseware Website. Details about the registration
and use of Aplia website are here
Study Guide.
Available separately. Recommended.
Written by the author of the test bank to be used in exams.
Contains chapter summaries, exercises, review questions, and
problem sets – all with fully worked out answers.
Student Companion Site at jws-edcv.wiley.com
Course Grading
‘Free Pass’ Policy
“Free pass” policy in grading amounts to automatic
dropping of a specified number of lower scores (including zeroes for the work
not done) of repeating class events (Aplia exercises, home assignments,
quizzes, etc.) in calculating the score for this activity. This allows for
saving time and effort of both student and instructor
providing and checking the validity of proof of legitimate reasons for, say,
missing homework. It also potentially allows for some student discretion in allocating
efforts, but if the number of missed assignments exceeds the allowance, then
ALL of occurrences will have to be reasonably documented showing the
circumstances beyond your control in order to allow their drop from the
scoring. You cannot choose some of them to be supported, whereas other to be
counted towards the “pass”.
The number of “passes” is [potentially] different for
each type of assignments. Specific numbers are provided in the correspondent
sections below. You grade calculation will drop lowest scores automatically, you do not have to do anything to make this
happen.
Attendance
Attendance, as such, is optional, except for the first
three classes, when the roll will be taken as a basis for the administrative
drop of those who miss all three classes, if there’s a waiting list for this
section. Nevertheless the in-class quizzes account for 5% of your grade, and
will not be announced in advance. More over I’ll take roll on a regular basis
to be able to better understand your standing with the course and to use in the
office hours as necessary. No grading will be directly based on your attendance
record, although missing the in-class quiz will affect your grade.
Aplia Exercises
There will be weekly machine-graded assignments off
the Aplia website (see below). These assignments are intended to provide you
with the early feedback on the questions regarding the material and facilitate
the effective use of the classroom time. They will cover the material to be
reviewed in the class in the week following the deadline for the corresponding
Aplia assignment submission. Thus you will have to READ AHEAD the relevant
chapters by the Sunday late night and solve the problems related to the
next-week material. Deadline will be usually set at
Be clear on this: you will have to do these exercises
based on your text reading, solving and reviewing matching practice problems on
Aplia and any feedback from me in the office hours – all AHEAD OF THE TOPIC
BEING COVERED IN CLASS.
Student benefits: By completing regular work in association with the lectures, you will
better prepare yourself for the lectures and exams in the course. Cramming is
not an effective method of learning. Think of the regular assignments on Aplia
as a weekly Economics workout. Practicing and applying what you are learning
from Aplia and lecture will better prepare you for class.
Aplia assignments: Many assignments come in pairs of practice and graded problem sets.
The practice sets give you immediate feedback about whether your answer
is right or wrong and an explanation of the correct answer. They are not
counted as part of your homework grade. Use them to check your understanding of
the material. If you are confident, you can go directly to the graded problem
set, and refer back to the practice set only if you want some additional help.
The graded problem sets have a firm due date.
You can change your answers as many times as you like before the due date has
passed. Once the due date has passed, the grade will be recorded and it will
not be possible to change your answers or complete the assignment at this
point. In other words, Aplia assignments must be completed by the due date. The
software does not care whether you have an excuse or not. I’ll do my best to
post these assignments at least week in advance. Do them early to avoid any
emergencies preventing your completion before the due date. After the due date,
you will be able to see the correct answers and the explanations for graded
problems.
This is a required part of the course workload, and it
bears a cost attached to it. You will have to register at the Aplia website
(see details below) and pay $21. Consider this cost being akin to a required
student workbook – it will be definitely as useful as that, and provide the
essential part of the course learning structure and communication means.
Instructions how to register and start working with Aplia will be handed in the
first class and available here for
download.
Pre- and post-test on math: When you log in to Aplia site for the first time, do
not get scared by the sheer volume of assignments visible in the first week.
The two that really matter are graded Pre-test and Post-test on Math. The rest
is optional (as you need it) and assigned in the practice mode. Only the
highest score between the pre- and post-test is counted towards your grade. Do
pre-test, check results after the Wed
Quizzes
Occasional pop-up multiple choice quizzes designed to
provide me an early objective feedback on your level of comprehension of main
concepts. They will be short and easy to answer as soon as you read the
assigned material beforehand and paid attention in the class.
Homework
Home assignments will be provided biweekly and will
serve as a close approximation of what you will see on exams. Problems for the
homeworks will come from the same test bank as exams will be, also from the end
of the chapters in the text, and – occasionally – from the Study Guide.
Exams
If you have three or more final examinations on the
same day (see: registrar.colorado.edu/Calendar/Fall04Eexam.htm),
we will adhere to the University’s final exam policy. In such cases, you are
entitled to arrange an alternative examination time for the last exam or exams
scheduled on that day. Please see www.colorado.edu/policies/final_exam.html
for complete details. The grading policy for the course is designed to suitably
accommodate (in accordance with the University’s policy) the possible conflict
of exam or assignment scheduling with the observance of religious holidays
(see: www.colorado.edu/policies/fac_relig.html).
Math in the Course
This course will make heavy use of relevant
mathematical analysis: differentiation of multivariate functions, simple
integration. Beginning calculus skills of graphing, understanding equations of
straight lines and their shifting are presumed. In the first week of the course
we will spend some time reviewing relevant math skills, but this crash course
will not substitute for pre-requisites, as it will be feasible only for those
refreshing, not acquiring this knowledge. Your math will be tested during the
first week.
Grading Scheme
Online (Aplia) exercises
(14-16, 3 passes)....... 10%
Homework (7-8, 2 passes).................................. 10%
In-class MC quizzes
(5-6, 2 passes)................. 5%
Exams (3, 1 pass)................................................. 75%
(23%, 23%, 29% cumulative final; or 30%, 45% if
Math test.............................................................. effective
pre-requisite enforcement (Aplia, one of the quizzes)
Attendance.......................................................... (absence
in 1st 3 classes may be a cause for an administrative drop)
Learning Cycle
The student model learning cycle could be as follows
(R stands for “required” or graded, except attendance beyond third class
meeting):
R
R READ AHEAD the assigned text chapter; try
learning-by-doing (LBD) exercises.
R
R Do the online machine-graded exercises (weekly, finish
by Sunday night preceding the week the chapter is
presented).
R
R Attend lecture (MWF), short popup quiz possible in the
beginning or the end of the lecture.
R
R Complete the homework assignment (biweekly?),
re-reading text segments as necessary. The homework is a good proxy for the
exam material.
Other Policies
Honor Code:
It is expected that you understand CU Honor Code and will abide by it for all
quizzes and exams. Go to www.colorado.edu/academics/honorcode/
- it is your responsibility to know what’s in it!
Pledge of Honor Code: “On my honor, as a
Religious Observance Accommodations: If you have a conflict between religious observance
dates and course examinations or assignments, you must notify me two weeks in
advance so that your needs may be addressed.
Disability Accommodations: If you qualify for accommodations because of a disability,
this includes extended time on exams, please submit a letter to me from
Disability Services (DS) early in the semester so that your needs may be
addressed. DS determines accommodations based on documented disabilities
(303-492-8671), Willard 322, www.colorado.edu/sacs/disabilityservices.
Course Outline
|
Part 1.
MATH REVIEW AND CONSUMER BEHAVIOR |
|
|
|
Week 1,2 |
Analyzing Economic Problems. Supply and Demand
Analysis. Math review. |
Chapters 1, 2 |
|
Weeks 3, 4, 5 |
Consumer Preferences and the Concept of Utility.
Consumer Choice. The Theory of Demand. |
Chapters 3, 4, 5 |
|
|
|
|
|
1st MIDTERM EXAM is
tentatively on Wednesday, October 6 at the regular class time. |
||
|
|
|
|
|
Part 2. FIRMS AND PERFECT COMPETITION |
|
|
|
|
|
|
|
Week 6, 7, 8 |
Costs Minimization, Cost Curves, Inputs and
Production Functions |
Chapters 6, 7, 8 |
|
Weeks 9 |
Perfectly Competitive Markets |
Chapter 9 |
|
Week 10 |
Competitive Markets: Applications |
Chapter 10 |
|
|
|
|
|
2nd MIDTERM EXAM is
tentatively on Wednesday, November 3 at the regular class time. |
||
|
|
|
|
|
Part 3. IMPERFECT MARKETS, GENERAL EQUILIBRIUM
AND WELFARE |
||
|
|
|
|
|
Week 10, 11 |
Monopoly |
Chapter 11 |
|
Weeks 12, 13 |
Market Structure and Imperfect Competition.
Elements of Game Theory and Strategic Behavior. |
Chapters 14, 13 |
|
Weeks 14, 15 |
General Equilibrium, Welfare and Elements of
Public Policy. |
Chapter 16, 17 |
|
|
|
|
|
FINAL EXAM is on Tuesday, December 14,
|
||
|
|
||
What’s Next?
Decide if you want to remain in this section
Register for Aplia (even if not decided). If you did
not finalize you decision to stay with this section of 3070, postpone the
payment for Aplia till you are sure. But do not forget to make it before the
deadline (13-Sept) as you will not be able to do a big part of the required and
graded coursework otherwise.
Do pre-test on Wednesday, review results, and then, if
necessary, work through tutorials and post-test.
Read Chapters 1 and 2 of the text,
including learning-by-doing (LBD) exercises and appendices.
By Thursday check for the Aplia exercises, and the
Homework #1.
Lets have a good semester. GOOD LUCK!