ECN201-0005: Fall 2015
ECN 201-0005: Principles of Economics: Microeconomics
University of Rhode Island
Fall 2015
Instructor:
Class room:
Office:
Course web page:
Bret Anderson
277 Chafee SSC
811 Chafee SSC
Sakai/Sapling
E-Mail: [email protected]
Class time: MWF: 12:00 -12:50am
Office Hours: MW: 1:45 - 3:15pm
Course Summary:
This course is an introduction to microeconomics. In microeconomics we study a broad range of
economic concepts and principles underlying resource allocation, production, and income
distribution in a market economy. Topics include demand and supply, consumer behavior, firm
behavior, market structure, and elementary welfare analysis. The institutional foundations and
other topics relevant to public policy will also be explored. While this level of microeconomics is
not meant to be overly mathematical, we will use some mathematics to construct simple models
of the economy that will give rigor to our more qualitative description of how the economy
works. Problem sets will be done online at Saping Learning (see below). We will use
TurningPoint classroom response clickers for in-class thought questions, activities, and “miniquizzes.”
Course Goals:
What should any college graduate be able to do with exposure to this economics course? Our aim
will be twofold. First is to increase your economic literacy. This includes being able to make
sense of real world economic data, being able to make efficiency-equity comparisons of different
public policies, and building a foundation for which you can be more civically engaged. The
second aim is to further your critical thinking skills through exposure to the tools of economic
analysis. Critical thinking is a central component of any career or major.
General Education:
This course satisfies the Social and Behavioral Science General Education outcome.
Student Learning Outcomes:
Social and Behavioral Science
Students will be able to:
• Identify relevant microeconomic concepts and vocabulary such as supply and demand,
marginal costs and revenue, etc.
• Recognize tools used by economists to understand market interactions and outcomes.
• Ask questions or frame hypotheses about the impact of relevant events on a market
• Collect/obtain/select appropriate information/data relevant to a market or the economy
• Apply an economic model or concept in order to illustrate the impact of relevant events
on the economy
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ECN201-0005: Fall 2015
Textbook:
The textbook for the class Microeconomics, 3rd edition (OR 2ND EDITION IF YOU PREFER) by
P. Krugman and R. Wells. You can find the book in the university book store or from your
favorite online retailer. Our online homework service also offers the option to buy an integrated
e-book (more on this below). The ISBN for the book is 978-1-4292-8342-7.
Sapling:
There will be weekly online homework assignments that will be done through Sapling Learning
(www.saplinglearning.com). These are typically due on Wednesday nights at 11:55 pm, with a
few exceptions, and they are always submitted via the Sapling website. There are 10 assignments
that will be counted towards your grade (each worth 10 points each). Many of the assignments
will be available for you to work on in advance. There are no late home works accepted. There
are, however, a few extra credit Sapling assignments. You will know which ones are extra credit
by their “points possible”. Anything worth 10 points is for regular credit. Anything worth 2
points is optional and is extra credit.
It is very important to devote at least a couple hours each week to completing these
assignments as they will give you the practice you need to do well on the exams. In addition, the
online problem sets are 20% of your final grade. The cost for Sapling Learning is $40 per
semester. To register, follow the instructions below:
Students:
1. Go to http://saplinglearning.com
2a. If you already have a Sapling Learning account, log in then skip to step 3.
2b. If you have Facebook account, you can use it to quickly create a SaplingLearning account.
Click the blue button with the Facebook symbol on it (just to the left of the username field). The
form will auto-fill with information from your Facebook account (you may need to log into
Facebook in the popup window first). Choose a password and time zone, accept the site policy
agreement, and click "Create my new account". You can then skip to step 3.
2c. Otherwise, click "Create account". Supply the requested information and click "Create my
new account". Check your email (and spam filter) for a message from Sapling Learning and click
on the link provided in that email.
3. Find your course in the list (you may need to expand the subject and term categories) and click
the link.
4. Select a payment option and follow the remaining instructions.
Once you have registered and enrolled, you can log in at any time to complete or review your
homework assignments. During sign up - and throughout the term - if you have any technical
problems or grading issues, send an email to [email protected] explaining the issue.
The Sapling support team is almost always more able (and faster) to resolve issues than your
instructor.
Sapling Payment
Bookstore: Purchase access to Sapling from the bookstore. Check with the bookstore to find out
what they offer for your course.
Online: Purchase access to your course (including the digital textbook) from the Sapling
website.
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ECN201-0005: Fall 2015
Grades:
Your grades will be calculated as follows:
CONTENT
(Top 10) Sapling Prob. Sets:
Two Highest Midterm Exams:
Final Exam:
Class Participation (clicker):
Total:
POINTS
100
200
100
100
500
Final Course Grade:
The following grading scale will be used to calculate your final course grade.
442 - 500
387 - 441
332 - 386
277 - 331
000 - 276
A
B
C
D
F
* Minuses will not be used. However, plusses will be used sparingly and at
the instructor’s discretion.
Exams:
There will be three midterm exams (mostly multiple choice with the potential for 1 to 3 short
answer questions) and one comprehensive final exam. The exams will have questions drawn
from lecture, homework, and reading assignments. In calculating your final course grade, your
lowest scoring midterm exam will be dropped. Thus, early or make up exams will only be given
in cases of documented medical emergencies or University sanctioned events.
Class Participation:
We will use the TurningPoint classroom response system (aka “clickers”), which is the
University of Rhode Island campus standard for student response systems. As part of this class
student’s are required to purchase a TurningPoint clicker (if you don’t already have one) from
the Bookstore or from store.turningtechnologies.com (when prompted, the URI code is 4URI) or
buy the TurningPoint ResponseWare app on your smartphone. You will need to register your
clicker (or the app) on Sakai (go to Turning Technologies link on the course page) so that I can
match the clicker with the student. We will use the clickers to do in class activities, to assess
your understanding, and to give you a chance to be actively involved in the lectures.
Accommodations for Special Needs
Any student with a documented disability is welcome to contact me as early in the semester as
possible so that we may arrange reasonable accommodations. As part of this process, please be
in touch with Disability Services for Students Office at 330 Memorial Union, 401-874-2098.
Academic Dishonesty
All submitted work must be your own. If you consult other sources (class readings, articles or
books from the library, articles available through internet databases, or websites) these MUST be
properly documented, or you will be charged with plagiarism and will receive an F for the
paper. In some cases, this may result in a failure of the course as well. In addition, the charge of
academic dishonesty will go on your record in the Office of Student Life. If you have any doubt
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ECN201-0005: Fall 2015
about what constitutes plagiarism, visit the following website:
http://gervaseprograms.georgetown.edu/hc/plagiarism.html, the URI Student Handbook, and
UNIVERSITY MANUAL sections on Plagiarism and Cheating at
http://www.uri.edu/facsen/8.20-8.27.html - cheating.
Any good writer’s handbook as well as reputable online resources will offer help on matters of
plagiarism and instruct you on how to acknowledge source material. If you need more help
understanding when to cite something or how to indicate your references, PLEASE ASK.
Academic Enhancement Center
The work in this course is complex and intensive. To do the best you can, it’s a good idea to
visit the Academic Enhancement Center (AEC) in Roosevelt Hall. The AEC offers a comfortable
environment in which to study alone or together, with or without a tutor. AEC tutors can answer
questions, clarify concepts, check understanding, and help you to study. You can make an
appointment or walk in during office hours -- Monday through Thursday from 9 am. to 9 pm,
Friday from 9 am to 1 pm, and Sunday from 4 pm. to 8 pm. For a complete schedule For a
complete schedule - including when tutors are available specifically for this class - go to
www.uri.edu/aec, call (401) 874-2367, or stop by the fourth floor in Roosevelt Hall.
The Writing Center
The Writing Center is for all writers, all disciplines, at all levels, and all stages of writing. If an
instructor suggests that you go to the Writing Center, it is not a punishment, and doesn’t mean
that you are a terrible writer. It means the instructor wants you to receive more individualized
attention to your writing than s/he is able to provide, given the constraints of the class. It will
only improve your grade. If possible, call ahead for an appointment (874-4690). Drop-in tutorials
are often available. You may make repeat appointments, requesting the same tutor each time if
you wish. See their Web Page: http://www.uri.edu/artsci/writing/center/index.shtml for tips on
how to make the best of your Writing Center visit.
Standards of Behavior
Students are responsible for being familiar with and adhering to the published "Community
Standards of Behavior: University Policies and Regulations which can be accessed in the
University Student Handbook. If you must come in late, please do not disrupt the class. Please
turn off all cell phones, pagers, or any electronic devices.
Religious Holidays
It is the policy of the University of Rhode Island to accord students, on an individual basis, the
opportunity to observe their traditional religious holidays. Students desiring to observe a holiday
of special importance must provide written notification to each instructor.
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ECN201-0005: Fall 2015
Course Outline (Approximate):
I. INTRODUCTION AND FOUNDATIONS
First Principles
Introduction to Economic Modeling
Quantitative Skills for Economics
II. SUPPLY AND DEMAND
The Basic S&D Framework
A Basic Measure of Market Participant Welfare
Reading
Sapling Due
Intro. + Ch. 1
CH. 2
Ch. 2 Append.
Sept. 9
Sept. 16
Ch. 3
Ch. 4
Sept. 23
Sept. 23 (practice
only)
——– EXAM 1 ——–
How do price & quantity controls impact the market?
How responsive are producers and consumers to price
changes?
APPLICATION: International Trade
——- EXAM 2 ——IV. MARGINAL ANALYSIS AND PERFECT
COMPETITION
Marginal Analysis
EXTENSION: Irrational Behavior and Identity
Economics
Behind the Supply Curve
Perfect Competition
Sept. 25
Ch. 5
Ch. 6
——- EXAM 3 ——V. BEYOND PERFECT COMPETITION:
MARKET POWER
Monopolies
Monopolistic Competition
Externalities
Income Inequality
——- FINAL EXAM ——-
Nov. 16
Ch. 8
Oct. 21
Oct. 19
Ch. 9
class notes
Oct. 28
- NA -
Ch. 11
Ch. 12
Nov. 10 (Tuesday)
Nov. 13 (practice
only)
Ch.13
Ch. 15
Ch. 16
Class notes
Dec. 19 3:00-6:00 pm
(SATURDAY!)
Important Dates:
•
•
•
•
•
Oct. 7
Oct. 14
No class: Wednesday, November 11: Veterans Day
No class: November 26-29: Thanksgiving Recess
Last day to add: September 15
Last day to drop with no “W” on transcript: September 30
Last day to drop: October 21
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Nov. 25
Dec. 2
Dec. 9
- NA -