The University of Alberta
Department of Economics
Economics 281-A1
Intermediate Microeconomic Theory I
Monday, Wednesday, Friday
Gordon Lee
9:00 – 9:50
Tory 1-91
Fall 2014
Office: Tory 8-27
Phone: 780.492-7636
eMail: [email protected]
Office Hours: Monday/Tuesday,14:00-15:00, Wednesday 14:30 – 15:30
or by appointment
Textbook:
Microeconomics, Eighth Edition, Robert S. Pindyck and Daniel L. Rubinfeld,
published by Pearson, Prentice Hall. 2013.
Course Objective:
Economics is defined as the study of the allocation of scarce resources amongst competing ends.
Microeconomics is that branch of economics that deals with the choices and actions of individual
consumers, and individual firms within the economy. Therefore, this course will focus upon the
economic behaviour of consumers (or households) and producers (or firms) and the interaction
of these groups within the context of the market economy.
The objective of this course is to further develop the basic analytical tools of microeconomic
theory. A mastery of these tools is necessary for many upper level economics and business
classes. Another objective is to further develop problem solving skills and critical thinking. It is
to be hoped that enhancement of these skills will provide benefits complementing other areas of
your training.
Prerequisite:
Economics 101 or equivalent
Grading: The grades are distributed as follows:
(1) Problem Sets
(2) Midterms
(3) Final Exam
20%
40%
40%
You should note that, typically, grading for assignments and exams takes up to ten days. Thus,
your final grade will be ready within ten days after the final exam.
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Problem Sets
There are five problem sets in this course. The problem sets provide the opportunity to apply the
analytical techniques discussed in class and will, hopefully, work as an aid for exam preparation.
Exams
The examinations in this course consist of multiple choice, short answer, and long answer
questions. The final exam is comprehensive. Copies of past exams are available on the webpage
for this course. Note that unexcused absences from exams results in a score of zero.
NOTE: The use of unauthorized materials (for instance notes), dictionaries, programmable
(graphing) calculators, and/or electronic communication devices (such as cell phones) is not
permitted during tests or exams. Notice that communication of any sort (including talking)
during exams and prior to the handing out and in of exams is strictly forbidden.
Midterm 1: October 3, in class
Midterm 2: November 5 in class
Final Exam: December 16 at 9:00
Grades
Grades reflect judgments of student achievement made by instructors. These judgments are
based on a combination of absolute achievement and relative performance in class. In this class,
the raw scores of the assignments, midterms, and the final are combined using the weights listed
above.
See also: www.grades.ualberta.ca
To give you an idea of what you might expect, here is a distribution reflecting last year’s grades
in this course:
Letter
Grade
A+
A
AB+
B
B-
Grade Point
Value
4.0
4.0
3.7
3.3
3.0
2.7
Grade Range
(%)
95 and above
88 to 94.9
83 to 87.9
78 to 82.9
72 to 77.9
67 to 71.9
Letter
Grade
C+
C
CD+
D
F
Grade Point
Value
2.3
2.0
1.7
1.3
1.0
0
Grade Range
(%)
64 to 66.9
60 to 63.9
56 to 59.9
54 to 55.9
50 to 53.9
under 50
Academic Integrity
“The University of Alberta is committed to the highest standards of academic integrity and
honesty. Students are expected to be familiar with these standards regarding academic honesty
and to uphold the policies of the University in this respect. Students are particularly urged to
familiarize themselves with the provisions of the Code of Student Behaviour (online at
www.governance.ualberta.ca) and avoid any behaviour that could potentially result in suspicions
of cheating, plagiarism, misrepresentation of facts and/or participation in an offence. Academic
dishonesty is a serious offence and can result in suspension or expulsion from the University.”
{University of Alberta Calendar}
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Recording of Lectures
“Audio or video recording of lectures, labs, seminars or any other teaching environment by
students is allowed only with the prior written consent of the instructor or as a part of an
approved accommodation plan. Recorded material is to be used solely for personal study, and is
not to be used or distributed for any other purpose without prior written consent from the
instructor.”
Please turn off your cell phones, etc. at the door
“Policy about course outlines can be found in Section 23.4(2) of the University Calendar.”
Course Outline and Sequence of Readings
1. Introduction and Review.......................................................................................Chapter 1
2. Supply and Demand..............................................................................................Chapter 2
3. Theory of the Consumer
(i) Consumer Behaviour.......................................................................................Chapter 3
(ii) Individual and Market Demand ......................................................................Chapter 4
4. Theory of the Firm
(i) Production .......................................................................................................Chapter 6
(ii) Costs................................................................................................................Chapter 7
5. Market Structure
(i) Perfect Competition .........................................................................................Chapter 8
.........................................................................................Chapter 9
(ii) Monopoly ........................................................................................................Chapter 10
.......................................................................................................Chapter 11
6. Markets for Factor Inputs .....................................................................................Chapter 14
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