Download ECON 1000-100 Introduction to Economics

Introduction to Economics
ECON 1000-100
Summer 2004
Instructor: Stephanie Martin
Office phone: (303) 492-2648
Class Time:
Office: Economics 313
Class Location:
Office Hours:
Email: [email protected] email is my preferred method of contact, please email me
with questions or to set up appointments
Class website: http://ucsu.colorado.edu/~smm
Course Description
This course is an introduction to the principles and tools of economic analysis. This
course outlines basic ideas in both Micro and Macroeconomics. In Microeconomics, we
will study how individuals and firms make decisions. We will investigate product
markets to see how individuals and firms interact to determine output and prices. We
will delve into the specifics of various market types and we will touch on how input
markets operate. In Macroeconomics we will be investigating the main topics of the total
economy and how governments make choices. Specifically, we are going to be
investigating economic output, unemployment and inflation. Our goal will be to develop
a clear understanding of these important concepts and to be able to apply the economic
theory to current societal issues.
Course Text
Principles of Economics, 3e. O’Sullivan and Sheffrin; Prentice Hall publishing
We will cover a great deal of information, and I strongly urge you to read the chapters
before we cover them in class and then reread the more difficult concepts again after they
have been covered in lecture. It is imperative that you keep up with all assignments in
order to successfully complete this class. There is a website for the book which has
helpful tools, visit http://myphlip.pearsoncmg.com/cw/mpbookhome.cfm?vbookid=340 .
Fully utilizing all of these resources will be the best way to ensure your success in this
class.
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Grading
Exams
There will be one midterm exam and a final exam each worth 35% of your overall class
grade. The final will not be cumulative.
THERE WILL BE NO MAKE-UP EXAMS. If you have a conflict with the final exam
date you must contact me for alternate arrangements within the first week of the class.
Homework:
There will be three Homeworks and these will be posted along with due dates on the class
website. The Homeworks will be turned into Lecture on the due date. There are NO
makeup opportunities for the homework. They will be posted with ample time for their
completion before the due date and there is no excuse for not completing them. If for any
reason you miss lecture on the homework due date you must either send your homework
with a classmate or email me your homework answers. Homework will be graded by
your TA and will constitute 10% of your class grade.
Recitation:
Recitation will account for 20% of your class grade. How your grades are determined in
recitation is at the discretion of your Teaching Assistant who should explain this method
to you during the first week of recitation.
Important Notes :
Honor Code: It is expected that you understand CU Honor Code and will abide by
it for all quizzes and exams. Go to
http://www.colorado.edu/academics/honorcode/
Honor Code: “On my honor, as a University of Colorado at Boulder student,
I have neither given nor received unauthorized assistance on this work.”
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).
My Policies: I and your TAs are 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.
Course Outline
The outline of topics set below is an ambitious schedule. The dates for exams are set and
will not be changed, however, the descriptions below should be thought of as an
approximate roadmap of the topics that will be covered on each exam.
June 1 to June 4:
• Introduction (Chapter 1)
• Scarcity and the PPF (Chapter 1)
• Opportunity Cost (Chapter 2)
• Supply and Demand (Chapter 4)
• Elasticity (Chapter 5)
• Consumer and Producer Surplus (Chapter 6)
• Price Controls, Taxes and Externalities (Chapter 6)
• Utility (Chapter 7)
June 7 to June 16:
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Production and Costs (Chapter 8)
Perfect Competition (Chapter 9)
Monopoly (Chapter 10)
Monopolistic Competition (Chapter 11)
Oligopoly and Game Theory (Chapter 12)
Application: Comparative Advantage and Free Trade
MID-TERM EXAM I, Thursday June 17, 2004
June 18 to July 1:
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Gross Domestic Product (Chapter 20)
Economics Growth (Chapter 23)
Consumer Price Index (Chapter 21)
Unemployment (Chapter 21)
Classical Economics: Full Employment and Keynes (Chapter 22)
Keynesian Fiscal Policy (Chapter 25)
The Monetary System; the Federal Reserve (Chapter 27)
Monetary Policy (Chapter 28)
The Open Economy
Aggregate Demand and Aggregate Supply (Chapter 24)
The Influence of Monetary and Fiscal Policy on Aggregate Demand
FINAL EXAM, July 2nd, 2004.