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University of Wisconsin - Milwaukee
Department of Economics
296-301 Lec 001 Intermediate Microeconomics
Fall 2010
This course deals with fundamental micro economic theory. As is reflected
by the fact that it is a required course for both economics major and minor, the
material covered in this course (along with intermediate macroeconomics, 296-302)
constitutes fundamental framework of the modern economics. The complete and
competent understanding of this course would be extremely useful in the more
specialized micro-oriented upper level undergraduate courses such as labor
economics, public economics, environmental economics, international trade, urban
economics, industrial organization, environmental economics, financial economics,
and so on.
It starts with basic market theory that deals with consumer choice and
producer profit maximization under the perfectly competitive market system.
Then it moves to monopoly and other non-competitive market structure. Inputs
(factor) markets as well as outputs (product) market will be analyzed. The idea of
allocation and market efficiency will be emphasized. Efficiency improving
measures such as government regulations and public goods will be discussed as
well.
Econ 103 is required. Knowledge of calculus will be very beneficial, but
not required to take this course. Students who want to pursue graduate courses in
economics or public policy are recommended to take 506, 606, and 701 after this
course.
INSTRUCTOR
Name:
Office:
Telephone:
E-mail:
Class:
Office hour:
Mr. Sunwoong (Sunny) Kim, Ph.D.
Bolton 844
229-6924
[email protected]
Mon, Wed, 9:30 am – 10:15 pm. (LUB S230)
Mon. 11 am -12 pm, 2-3 pm, Wed. 11am -12 pm
The best time to talk to me is probably right after class. If you need to talk to me
other than the office hours posted please make an appointment. Simple questions
can be asked by e-mail.
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TEXT
The required text for the course is
Browning Edgar K and Mark A Zupan, Microeconomics: Theory and
Applications, 10th edition.
You may purchase the book through any commercial outlets including internet
bookstores such as www.amazon.com or Barnes and Nobles (www.bn.com).
In addition to the text, you need to purchase the internet problem sets
accompanying the text developed by Aplia. (www.aplia.com) Aplia also provides
an electronic textbook. Please see the last page of the syllabus for detail.
IMPORTANT DATES (please check the official UWM information)
Last day to add
Last day to drop without transcript notation
Last day to drop with transcript notation
Last day of instruction
Sept. 16
Oct. 1
Oct. 23
Dec. 14
REQUIREMENTS
The course grade will be determined by the following weights:
First mid-term exam (Mon., Oct 12)
Second mid-term exam (Mon., Nov. 16)
Final exam (Tue. Dec. 21, 10 am – 12 noon)
Problem sets
Class Participation
20 %
20%
30 %
25 %
5%
NOTE
Information on Economics Department policies on participation
by students with disabilities, accommodation for religious
observances, academic conduct, complaint procedures, grade
appeal procedures, and other standing policies (e.g., sexual
harassment, incompletes) is available in main offices of
Economics Department located in Bolton 868.
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COURSE SCHEDULE and READING ASSIGNMENTS
I would like to cover all chapters in the textbook during the semester if
possible. The course is divided into three parts. The first part will cover chapters
1 through 8, the second part cover chapters 9 through 15, and the third part cover
16 through 20. Easy chapters with the most the material covered in 103 will take
one lecture. Chapters with substantial new material will be covered in two
lectures. Schedules of lecture and the deadlines for the graded Aplia homeworks
are subject to change, so please pay attention to the occasional announcement at
class or via email.
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8.
Introduction
Supply and demand
Theory of consumer choice
Individual and market demand
Using consumer theory
Exchange, efficiency and prices
Production
The cost of production
The first mid-term exam
9. Profit maximization in perfectly competitive market
10. Using the competitive model
11. Monopoly
12. Product pricing with monopoly power
13. Monopolistic competition and oligopoly
14. Game theory and economics of information
15. Using non-competitive market models
The second mid-term exam
16. Employment and pricing of inputs
17. Wages, rent, interest, and profit
18. Using input market analysis
19. General equilibrium analysis and economic efficiency
20. Public goods and externality
The final exam
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How to access your Aplia course
Econ 301 Intermediate Microeconomics, Kim, Fall 10
Instructor: Sunwoong Kim
Start Date: 09/02/2010
Course Key: GWVL-C5K9-2M8T
You can begin working on your homework as soon as you register!
• In this course, you will use a textbook and Aplia's website.
• In most cases, you can save money if you buy Aplia and your textbook together. See
payment options below.
• You will have access to a digital version of your textbook on Aplia through the end of
this course.
Registration
1. Connect to http://www.aplia.com.
2. If you already have an account, sign in. Go to your My Courses page, and click the Enroll in
a New Course button.
If you don't have an account, click the Create a New Account button, and choose Student
Account.
3. Enter your Course Key when prompted: GWVL-C5K9-2M8T. Continue to follow the onscreen instructions to access your course.
Payment
After you register for your course, you will have a variety of payment options. If you choose to
pay later, you can use Aplia without paying until 11:59 PM on 09/22/2010.
Option 1: Digital Textbook with Aplia Access
• From Aplia: Purchase access to your course from the Aplia website for US$85.00.
Option 2: Physical Textbook with Aplia Access (also includes digital textbook)
• From Aplia: Purchase access to your course for US$85.00 on the Aplia website, and then
purchase a physical book at a discounted price from Aplia's website.
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