Introductory Economics by qym17251


									                  Introductory Economics
                                        Eco 102-A
                                       Spring 2007

Professor: Li Qi
Office: G-29A Buttrick Hall
Phone: 404-471-5182
Web site: Blackboard
Office Hours: Tuesdays and Thursdays 10:00 am to 11:00 am
               Or by appointment

♦Course objective: Econ 102 is an introductory level course which covers both
microeconomics and macroeconomics. The course focuses on explaining the economic
choices made by individuals, households and firms as well as providing an introduction to
the behavior of market-based economies such as the United States. Topics to be covered
will include: consumer choice, markets, production and costs, market structure, externalities,
public goods, the concepts and measurements of inflation, unemployment, and national
output, savings and investment, money and banking, and the use of models of the macro
economy to understand what causes movements in the national economy and the role of
governments in controlling these movements.

♦Course Prerequisites: Econ 101.

♦Lectures: Tuesdays and Thursdays 8 am – 9: 15 am at Buttrick 217

♦Textbooks: Economics, Paul Krugman and Robin Wells, Worth Publishers, 1st Ed. 2006,
ISBN: 1-57259-150-1.

The class sessions will assume that you have read the related materials in advance of class.

♦Other Materials: In order to graph models and perform calculations, having a calculator
(not necessarily graphing calculators), graph paper, a straight edge (ruler), and several colors
of pens or pencils will be helpful. Please bring these tools to exams as well.

♦ Homework assignments: The homework problems are designed to help you learn the
material. Some of the problems assigned to your homework will be covered in the lectures
and the solutions to the homework will be discussed in the next lecture or posted on the
course website. You are strongly encouraged to complete all assignments as they will help
you master the class material.

♦Homework policy:
       • To get full credit for your homework, you must hand it in on time, that is, at the
       end of the class on the due date.

       • Homework handed in after the end of class on the due date is considered late
       homework. If you are late, you can still hand it in within 3 days, but you will only get
       half of the credit. After three days you will get no credit.

       • Once you get your homework back, you have two weeks to request grade revision.
       Keep your homework on a safe place, since you may need it later in case of any
       grade clarification.

       • Students requesting revision of a homework grade must submit their claim in
       writing, not later than two weeks after the grades have been distributed. Please
       include a brief argument/reasoning for grade change. For example, if you feel that
       your answers are correct but you did not get the credit, list reasons or evidence to
       support your argument.

5 quizzes will be given during the semester. The quizzes will be worth 15 percent of the
course grade (best 4 out of 5). All quizzes will be in lecture. There will be no makeup
quizzes and this policy is non-negotiable!

♦Exams and Exam Policy:

There will be four exams. Only the best 3 out of 4 exams will be counted towards the final
grade of the course. Check dates below in the course outline.

      • Since you are already given an exam that you can drop for the final course grade,
no make-up exams will be made.

       • Only in very exceptional cases, students may be excused from missing an exam.
Enough written evidence of the calamity must be provided. I will give make-up exams only
when the conditions just specified are met.

        • Students requesting revision of an exam grade must submit their claim in writing,
no later than two weeks after the exam grades have been distributed. Please include a brief
argument/reasoning for grade change. For example, if you feel that your answers are correct
but you did not get the credit, list reasons or evidence to support your argument.

♦Attendance and Class Participation: Attendance and class participation are important.
Attendance will be checked randomly and frequently throughout the semester. You are
allowed to drop two no-show records at the end of the semester, but you will lose the
attendance and participation credit for this class by 10 per cent for each additional no-show
record. Since you are given the chance to drop two no-show records, no additional excuses
will be granted for missing classes. Only in very exceptional cases (such as severe illness or
family emergencies), students may be allowed to drop additional no-show records. Enough
written evidence of the calamity must be provided. Late attendance will count only if you
arrive within 20 minutes of the class start time.
♦Essay Assignment: You are to write an essay on a news topic of your choice. The
objective of this assignment is to enhance your understanding of class materials and your
analytical skills, while also learning about economics from real world issues and events.

        • Choosing a topic: You need to choose a news topic related to materials taught or
discussed in class. You can find sources for possible news topics from popular media such
as newspapers (Wall Street Journal, the Economist), newsmagazines (Time).

       • Composition of the essay: In your essay, please summarize the news topics briefly
and analyze this topic with the knowledge and tools you learned from our class.

        • Essay Grading Criteria: The grading criteria for the essay is posted on the course
        • You should list all bibliographic references at the end of your essay, including web
site addresses. Remember to include the source of your news topic. In addition, remember
to use proper quotation techniques. I posted a separate file for the flyer from the Writing
Center on quotation techniques.

        Length of the essay should be 2-4 pages (minimum 2 and maximum 4 pages). You
must follow the following format: 8”x11” paper, double-spaced, margins of 1 inch on each
side, maximum font of 12 pt., and minimum font of 11 pt. The deadline for the essay is Apr.
19, 2007. I strongly encourage you to discuss with me about the topics and the plan of your
writing before you turn in the final version.

The final grade will be a weighted average as follows:

Three best exams 45% (15% each)
Homework assignments 15%
Four best quizzes 15%
Short-paper 15%
Attendance and participation 10%

The course letter grades are determined as follows:
       96 – 100        A+
       92 – 95.99      A
       90 – 91.99      A–
       86 – 89.99      B+
       82 – 85.99      B
       80 – 81.99      B–
       76 – 79.99      C+
       72 – 75.99      C
       70 – 71.99      C–
       66 – 69.99      D+
       62 – 65.99      D
       60 – 61.99      D–
       < 60            F
                  Reading List and Course Outline (tentative)
                                                           Readings:          Problem Sets:
                             Topic                     Krugman & Wells Posted          Due
 1 Jan 18 Course Introduction;                               Ch. 1,
          Choices and thinking like an economist              Ch. 7
                                                       pp. 160-173 (all but

  2   Jan 23 Models, Graphing, Comparative Advantage      Ch.2 & Ch. 2        HW1
             (Classroom experiment)                        Appendix

      Jan 25 Supply and Demand                                Ch. 3           HW2
             (Classroom experiment)

  3   Jan 30 Markets                                          Ch. 4                   HW1
      Feb 1 Elasticity                                        Ch. 5           HW3     HW2

  4   Feb 6 Consumer and Producer Surplus                     Ch. 6                   HW3
            Quiz I
      Feb 8 Review for Exam 1

  5   Feb 13 Exam 1                                       Chapters 1-7
      Feb 15 Production and Costs                             Ch. 8           HW4

  6   Feb 20 Perfect Competition                              Ch. 9
      Feb 22 The Rational Consumer                     Ch. 10, 11, PV from    HW5     HW4
                                                              Ch. 7

  7   Feb 27 Monopoly                                        Ch. 14           HW6     HW5
             (Classroom Experiment)
      Mar 1 Oligopoly & Monopolistic Comp                  Ch. 15& 16
             (Classroom Experiment)

  8   Mar 6 Externalities & Public Goods                  Ch. 19 & 20         HW7     HW6
            (Classroom Experiment)
     Mar 8 Review for Exam 2                                                HW7

9    Mar 13 Spring Break
9    Mar 15 Spring Break

10   Mar 20 Exam 2                                 Ch. 8-16, 19-20
     Mar 22 Macro Basics                             Ch. 23-24       HW8

11   Mar 27 Growth                                     Ch. 25               HW8
     Mar 29 Savings & Investment and Excel HW          Ch. 26        HW9

12   Apr 3 AD&AS                                       Ch. 27
     Apr 5 Income and Expenditure, Fiscal Policy     Ch. 28 - 29     HW10   HW9

13   Apr 10 Money & the Fed                         Ch. 30 & 31             HW10
     Apr 12 Review for Exam 3

14   Apr 17 Exam 3                                   Ch. 23-32
     Apr 19 The Phillips Curve                         Ch. 32        HW11

15   Apr 24 Inflation                                  Ch. 33               HW11
     Apr 26 Open Economy Macro                      Ch 35, Ch 36

16   May 1 Review

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