Introduction to Microeconomics (Econ 201) 
Spring Term 2005 Syllabus
Days & Time: Monday/Wednesday 1300-1450 with a 5 minute
break
Place: Wiegand (Wgnd) 115
Instructor: Bruce Sorte, M.A.I.S. – Ag. Econ., Econ. and Political
Science
Office: Ballard (BalE) 228
Office Hours: Monday and Wednesday – 1400 to 1600
By Appointment – Usually
early in the day
Phone No.: 541.737.9594 (OSU)
541.757.2466
(Home)
Email: Bruce.Sorte@OregonState.edu
Web: http://oregonstate.edu/~sorteb/
In addition to
the above office hours, you can get help in the economics undergraduate lab (BalE 330-G). Tutors will be there on
weekdays to answer your questions.
Course
Materials:
O’Sullivan, Arthur
and Steven M. Sheffrin. Microeconomics Principles and Tools – Third Edition.
Regional (e.g. The
Oregonian) and/or national (e.g. The New York Times) newspaper.
Prerequisites: A working
knowledge of algebra and graphing or visit with me.
This class fulfills requirements for the
Baccalaureate Core, Perspectives: Social Processes and Institutions. We will
explore the application of economic theories to understanding of current
events, and will critically examine how economic decisions affect different
parts of society and the institutions within which society is organized.
Course Objectives/outcomes:
1. Describe
the basic parts of an economy and how people make economic decisions. Review
the historical context for economic theory. Students will be able to apply economic
theory and tools to current issues showing mastery of the operation of the
market system; the role of households, firms, and government in the market
system. They will understand how market prices are determined.
2. Determine when government is
likely to participate in what is produced, how it is produced and who gets what
is produced and propose government policies. Students will be able to
identify when free markets are most likely to behave inefficiently and suggest
possible public policy remedies.
3. Develop and refine your ability
to use economic analysis to evaluate current events and other issues that you
consider to be important (e.g. graduate education, job search) and anticipate the
short and long-term outcomes of others’ and your decisions. Students will
be able to apply microeconomic theory to real world situations.
4. Frame projects or activities
within other disciplines in economic terms or contexts. Students will be able to propose projects
within their disciplines using economic justifications that may increase the
likelihood the projects will be implemented.
Grading:
Two Homework
Assignments(10 ea) 20
Five “Five Minute
Questions” (3 ea) 15
Midterm Exam 30
Final Exam 35
Class
Participation and/or Improvement 5
105
95 - 100% A 80 - 83% B- 60
- 65% D
90 - 95% A- 77 - 79% C+ less
than 60% F
87 - 89% B +70 - 76% C
84 - 86% B 66 - 69% C-
I do not raise or
lower the curve, however one hundred percent is established for homeworks, 5 minute questions and exams using
the highest number of points earned by any student in the class. Your final grade is determined by adding all your
points and dividing by the sum of the maximum points achieved on each homework,
5 minute question and exam. Class participation and/or improvement will
typically not be used to determine your grade yet I reserve that component for
cases on the margin.
For more information on grading check -
http://oregonstate.edu/registrar/grading2.htm
Classes will begin each
day with a discussion of issues that are in the news so find a few moments to
study or at least scan a newspaper before class. Homework assignments will be
to analyze current events using the economic theories and methods that we have
been discussing. Examinations contain a mixture of multiple choice, short answer
and analytical questions. Questions will be taken from the lectures, class
discussions, the required readings and you will be asked to bring a question
for just your test. Following
Make-Up Exams: There will be no make-ups on homework, 5 minute questions or exams, except
in very serious circumstances and any make-ups will usually require a pecentage
reduction.
Tips on Efficient Studying : Read
the chapter before we cover it in class, at least read the first and last
sentence of the paragraphs and scan the graphs. Try to do some of the problems
at the end of the chapter or on the CD before class and finish them as soon as possible,
after class. If you cannot answer the questions from the readings or are having
difficulties, reread the chapter (or needed portions of it), use the
undergraduate teaching lab and/or meet with me.
Academic Plagiarism: Plagiarism, fabrication, cheating, or facilitating the academic
dishonesty of others is a serious offense and may result in failure on the assignment,
exam, in the course, and/or expulsion from the university. Please refer to the OSU Schedule of Classes for more information on academic
dishonesty.
Classroom Consideration and Behavior: Please turn-off your cell phones
and if you use a laptop during class do so in a way (e.g. sitting on the
outside) that minimizes the distraction of others. We will begin promptly at 3
p.m., break from 3:55 to 4:05 p.m. and finish at 4:50 p.m. Critical analysis as
we explore ideas can be helpful, however as the Dean of Students reminds us: "Behaviors which are disruptive to the
learning environment will not be tolerated and will be referred to the Office
of the Dean of Students for disciplinary action. Behaviors which create a hostile, offensive,
or intimidating environment based on gender, race, ethnicity, color, religion,
age, disability, marital status, or sexual orientation will be referred to the
Affirmative Action Office."
Disabilities: Students with documented disabilities who
may need accommodations, who have any emergency medical information the
instructor should be aware of, or who need special arrangements in the event of
evacuation, should make an appointment with the instructor as early as
possible, and no later than the first week of the term. Class materials will be
made available in accessible format upon request.
Schedule – Homework and 5 minute questions are not scheduled
and will be reasonably spaced amongst the other work.
3/28 & 3/30 Introduction
– Principles, Methods and Parts of the Economy –
Economic Thinking
-
4/4 & 4/6 Supply, Demand and
Market Equilibrium –
Elasticity
–
4/11 & 4/13 Markets
and Government in the Global Economy –
Market
Efficiency and Government Intervention –
4/18 & 4/20 Production
and Cost Theory –
4/25
& 4/27 Perfect Competition –
Monopoly
–
Midterm Exam on 4/27 or 5/2 Chapters
1-11
5/2
& 5/4 Oligopoly
and Strategic Behavior with Game Theory –
Market
Power and Public Policy – Parts of
5/9 & 5/11 Spillovers and Information –
Parts of
5/16
& 5/18 Labor Market
and Economic Challenges –
5/23
& 5/25 International Trade and
Public Policy –
5/30 Memorial Day Break - Return with the
most pressing economic issue for 2005 and predicted outcomes for producers, consumers
and government.
6/1 Develop
solutions for the most pressing economic issues using economic tools/thinking
and review for final exam.
FINAL EXAM is on Thursday, June 9, 2005 at 1400 in our regular classroom, Wgnd 115.
Good luck and if you are thinking about majoring in economics and would
like to meet about classes and future graduate school or professional
opportunities, please let me know. If at any point, you have suggestions about
class, please drop by during office hours. I enjoy discussing what difference a
concept might maker or how it fits within the course objectives/outcomes or
careers. We have a few open seats and visitors, relatives or out-of-town
friends, are welcome. Just alert them that space may be a bit tight. Thanks,