ECON 201, Essentials of Microeconomics
Quarter:
Dr. Mark Evans
Professor and Chair, Economics and Associate Dean, BPA
Phone: 654-2157; Fax: 654-2049; Email:
Office Location: School of BPA Dean’s Office, BDC 128
Office Hours:
TEXTBOOK: R. Frank and B. Bernanke. Principles of Microeconomics, Third Edition, 2007, ISBN-13: 978-0-07319398-4.
LEARNING GOALS AND OBJECTIVES:
CSUB has established learning goals for the general education program. The Economics and Business Administration faculties have established learning goals for their respective majors. Because this course is part of the general education program (Area D) and is required for the Economics and Business Administration majors, course goals are compatible with program goals established in these areas.
Upon completion of this course, the student will be able to:
1. Demonstrate understanding of and apply the basic terms, perspectives, concepts, and theories of microeconomics (General Education Area D: Goals 1 and 2; Economics Objective 3a). Specifically, demonstrate an understanding of concepts and theories relating to scarcity and choice, incentives and rational choice modeling, specialization and exchange, equilibrium, the benefit-cost principle and economic efficiency, and market strengths and imperfections.
2. Use economics to interpret and make sense of the world in which we live (General Education Area D: Goal 3; Economics Objective 3a). Specifically, delineate the basic functions of economic systems and assess the limited options for carrying out each function.
3. Analyze external environments of organizations (Business Admin and Economics Objective 4a). Specifically, analyze industry environments and the microeconomic role of government.
4. Make economic decisions by identifying constraints and alternatives, weighing the alternatives using economic criteria, and choosing among the alternatives (Economics Objective 4b)
5. Normatively analyze fundamental issues and current events from the perspective of efficiency and fairness (Economics objective 4c).
CLASS PROCEDURES, ASSIGNMENTS, GRADES:
You have an opportunity to increase your knowledge of economics. This will help you throughout life in diverse ways from making personal decisions to better understanding the world. However, it will take lots of work – ideally two hours outside of class for every contact hour. Economics is a different way of thinking for many people and it is cumulative so don’t fall behind. I will help you as much as I can, but learning (and enjoyment of learning) is your responsibility. Think of me as a “coach” guiding active practice rather than as a “dumper of content” into passive, short term memories. To maximize learning: (1) do the assigned reading prior to the class meeting for which it is assigned, (2) assess what you do and do not understand in the reading assignments and ask questions for clarification, (3) attend class regularly, (4) focus your study on topics included in study guides, (5) confirm you are correctly approaching questions on the study guide and practice writing out answers to these questions several times before each exam, and (6) follow the news and practice applying concepts outside of class. My lectures will emphasize some parts of the text more than others and introduce complementary material that is not in the text. Use lectures and study outlines as guides to what is most important.
There will be three exams. You may take an exam early if you know you will be absent. You must have a good excuse (my call) to qualify for a make-up exam and complete the make-up exam within one week of when it was given in class. There is a two points per weekday penalty if you take an exam late, regardless of the reason. Exams will be multiple choice and short-answer essays and/or numerical problems. The homework will contain numerical and/or graphing exercises similar to those on the exams. Bonus points can be earned for Attendance.
GRADING
Three Exams 75 %
Homework Exercises 15 %
Public Policy Projects 10 %
Attendance Bonus 3 % added to final average (for 85 % attendance on sampled days)
Typical distribution: A = 90%, B = 80%, C = 65%, and D = 55%
I follow CSUB policy on Academic Dishonesty. This policy stipulates that I report suspected cheating incidents (along with evidence) to the campus disciplinary officer and assign a grade of RD (Report Delayed) until the matter is resolved.
BlackBoard COURSE SITE: There is a BlackBoard site for this course. Various course materials will be available on this site (e.g., syllabus, course calendar, handouts and notes, study guides, practice tests, etc.). Course announcements outside of class will be via the email tool in BlackBoard. Use the Blackboard email tool to contact me and use my CSUB email address only if you do not get a response.
IMPORTANT DATES:
Last day to withdraw without a "W" being recorded:
Last day to withdraw for a serious and compelling reason:
TENTATIVE TOPICS & READING ASSIGNMENTSSESSION / READ
CHAPTER / TOPICS
PART ONE: BASIC ECONOMIC CONCEPTS
1 / Chapter 1 / Course Overview
Thinking Like an Economist
2 / 2 / Production Possibilities and Efficient Specialization
3 / 3 (pp. 59-62) / Exchange and Money
Property Rights and Economics Systems
What, How, and For Whom? Functions of Economic Systems
4 / 3 / Supply & Demand: The Functions of Price in Market Economies
5 / Review
6 / Exam on Part One (Chapters 1-3)
PART 2: COMPETITION AND THE INVISIBLE HAND
7 / 4 / Elasticity: Quantifying Changes in Behavior
8 / 5 / Demand: The Benefit Side of the Market
9 / 6 / Competitive Supply: The Cost Side of the Market
10 / 7 / Efficiency and Market Outcomes
11 / 8 / Adam Smith's Invisible Hand
12 / 9 / International Trade
PART 3: MARKET IMPERFECTIONS & POLICY
13 / 10 / Monopoly and Other Forms of Imperfect Competition
14 / Exam on Part Two (Chapters 4-9)
15 / 11 / Strategic Decisions: Business and Everyday Life
16 / 12 / Externalities
17 / 13 / Economics of Information
18 / 14 / Labor Markets, Poverty, and Income Distribution
19 / 15 / Environmental, Health and Safety
20 / Public Policy Projects: Normative Critical Reasoning
21 / Exam on Part Three (Chapters 10-15)