Principles of Economics
Syllabus
Economics 119-01/02/04
Spring 2014
Carnegie 304
Instructor: Amy Damon
E-mail: [email protected]
Office: Carnegie 310D
Office Phone: 696-6862 (office)
Class Time: Monday, Wednesday, and Friday: 9:40 - 10:40 (section 03); 10:50-11:50 (section 04)
Office Hours: Monday: 12:45 – 1:45 pm and Wednesday: 7:30 - 8:30am; or by appointment. Please feel free to
email me anytime.
Preceptor: Kyle Coombs ([email protected])
Course Description: This course is an introduction to economic concepts and basic economic theory. The course
is split between the study of microeconomics, which focuses on the decision making of individual consumers and
firms and macroeconomics with focuses on aggregate level economic questions such as interest rates, government
spending, among others. In this course we will develop economic tools to analyze and evaluate public policies,
poverty and welfare questions, and other applied topics.
Texts: Principles of Economics, Sixth Edition, by Gregory Mankiw (Mason, Ohio: Thomson South-Western,
2007). There may also occasionally be supplementary readings which will be available through Moodle.
Course Policies: Class attendance is mandatory since most exam questions will come from lecture materials. The
class schedule, including exam schedule, is attached. There will be two midterm exams and a final exam. The only
acceptable excuse for a missed exam is a medical emergency with documentation. Please note the date and time of
the final, do not leave town before this. No make-up exams will be given.
This class has a substantial amount of homework that will often take a significant amount of time to complete. The
best practice is to start early (not just the night before) to complete the homework. You are encouraged to work in
small groups to complete the homework; however everyone must turn in their own write-ups of the homework.
Homework must be handed in at the beginning of class. Late homework will be penalized by 15% each day late,
and will not be accepted after 2 late days. Electronic submissions will not be accepted.
It is a good idea to communicate with either me or the preceptor to make sure that you are clear on class concepts.
Readings are assigned in the schedule attached and it is expected that you will have read the chapters BEFORE
coming to class. Please do not use laptop computers in class. If you have a special need for a laptop computer
please come talk to me.
Grading: Your grade in this course will be determined by:
Homework (9 at 3% each)
27%
Midterm exam 1*
20%
Midterm exam 2*
25%
Final exam (cumulative)
28%
* Two midterm exams will be held at night for all three classes together. This will allow you to have ample time.
Please note the dates and times of these midterms, these are mandatory for the class and you must be there. No
make-up exams will be given.
1
Date
27-Jan
29-Jan
31-Jan
3-Feb
5-Feb
7-Feb
10-Feb
12-Feb
14-Feb
17-Feb
19-Feb
21-Feb
24-Feb
26-Feb
28-Feb
3-Mar
5-Mar
7-Mar
10-Mar
12-Mar
14-Mar
Tentative Course Schedule
Due
Topic
Textbook Chapters
Introduction
1
Graphing and Gains from Trade
2, 2 app, 3
Gains from trade
3
Supply and demand
4
Supply and demand (continued)
Homework 1
4
Elasticity
5
Elasticity (continued)
5
The minimum wage and rent control
Homework 2
6
The cost of taxation
8
Measuring welfare and efficiency
7
International trade
9
International trade/ Exam review
Homework 3
9
EXAM 1
Consumer Choice
21
Consumer Choice
21
Consumer Choice/ Theory of the Firm
21 and 13
Firms and the Costs of Production
Homework 4
13
Firms and the Costs of Production
13
Perfect competition
14
Perfect competition/Monopoly
14/15
Monopoly
Homework 5
15
Spring Break – Whoop whoop!
24-Mar
Monopolistic Competition
16
26-Mar
Oligopoly
17
28-Mar
Externalities
10
31-Mar
Frontiers in Microeconomics
Homework 6
22
2-Apr
EXAM 2
4-Apr
Measuring a Nations Income
23
7-Apr
The Cost of Living
24
9-Apr
Policies for Growth
25
11-Apr
Policies for Growth
Homework 7
25
14-Apr
Saving, investment, and the financial system
26
16-Apr
Finance and Unemployment
27 (only pg 598 - 600) & 28
18-Apr
Economics Honor’s Day – Attend Seminar
21-Apr
The monetary system
29
23-Apr
Money Growth and Inflation
Homework 8
30
25-Apr
The Great Recession
Bad Bank/Giant Pool of Money
The Great Recession II/
Another Frightening Show about
28-Apr
Open Economy Macro
the Economy
30-Apr
Open economy macroeconomics
31/32
2-May
Open economy macroeconomics
31/32
5-May
Aggregate supply and aggregate demand
Homework 9
33
Cumulative Final Exam: May 10: 4-6pm. Room TBD.
2