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Economics Syllabus

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by: Paul Wang

Economics Syllabus ECON1116

Paul Wang
Northeastern University

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This is the provided syllabus
Principles of Microeconomics
Jelena Nikolic
Class Notes
25 ?




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1 review
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"What an unbelievable resource! I probably needed course on how to decipher my own handwriting, but not anymore..."
Luis Welch

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This 6 page Class Notes was uploaded by Paul Wang on Tuesday February 9, 2016. The Class Notes belongs to ECON1116 at Northeastern University taught by Jelena Nikolic in Winter 2016. Since its upload, it has received 310 views. For similar materials see Principles of Microeconomics in Economcs at Northeastern University.

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What an unbelievable resource! I probably needed course on how to decipher my own handwriting, but not anymore...

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Date Created: 02/09/16
Northeastern University Spring 2016 Lectures:     Monday/Wednesday/Thursday 9:15 – 10:20 a.m. in 97 Cargill ECON 1116  Principles of Microeconomics Instructor: Jelena Nikolic, Ph.D. (  Office: 357 Holmes Hall Phone: 617­373­6277 Office Hours:  Monday 11:40 am – 12:50 pm and Thursday 11:40 am – 1:30 pm. Also, By Appointment. Recitation sessions: Recitation Leaders/Graduate Teaching Assistants: Robert Bradley ( Carlos Casso Dominguez ( Nehan Naim ( In addition to registration for the course, each student MUST be registered for a Recitation session (ECON1126...titled “Recitation for ECON1116”); Recitation meetings are key to leaning and attendance is required. Introduction/Description: This course is an introduction to the fundamentals of microeconomics. Microeconomics studies individual consumer and firm behavior and how their decisions affect market outcomes. Some topics include supply and demand, the theory of the firm, and consumer behavior. The course will also introduce economic methodology including creating arguments, empirical verification, and policy decision­making. Upon completion of the course you should have a basic understanding of the choices facing consumers and firms, and the workings of different market structures. Course Goals: Economics is primarily a method of reasoning used to form judgments regarding economic issues faced today. At the end of the term you should be able to make logical economic arguments as well as analyze the appropriateness of alternative arguments based on the analysis developed in this course. Specifically you should be able to: • Define the terms and concepts economists use to describe individual, firm, government, and societal behavior.  • Predict or evaluate the effects of government policies or other events on society’s allocation of resources using supply and demand analysis.  • Illustrate the welfare loss resulting from market failures such as externalities, determine government policies to address those failures, and evaluate the policies.  • Show how firms make production, pricing, and hiring decisions, and how those decisions depend on costs and the degree of competition firms face.  Prerequisites: No formal prerequisites; however familiarity with algebra and geometry are strongly recommended. If you need a refresher on the mathematics used in the course the textbook has a mathematical appendix. Required Software and Textbook: MyEconLab Software and Text – Microeconomics, Hubbard & Obrien, Pearson/Prentice Hall. The latest version of the text and access code are bundled together at the bookstore. There are three options at the bookstore: However, you may also purchase directly from Pearson; the price for MyEconLab + eBook is $106, with an option for a $55 looseleaf print upgrade. PREVIOUS EDITIONS are ACCEPTABLE.  MyEconLab (MEL) is required for this course, you CANNOT complete the homework without MEL. You can purchase the textbook with access card to MEL at the bookstore; you can also purchase access to MEL directly online. Access to the Pearson eText can be purchased online as well. You need to register for MEL as soon as possible so as not to miss any Homework due dates. Instructions for MEL registration will be provided on the Blackboard.  Students who elect to purchase just the lab and/or e­text online will be prompted during the registration process to pay online. Pearson’s also offers free temporary access to MEL, therefore if you are waiting for financial aid or would like to access the site before purchasing full access you may do so by following the instructions provided by Pearson.  You can access   AL   the materials on  MEL and Blackboard. You should print lecture notes from MEL and bring them with you to each class. In addition you should print exercises that will be posted on Blackboard throughout the semester and bring them with you to class when required. Blackboard will be the primary means of communication for the course. Any schedule changes, edits to the course materials, and announcements will be posted there. It is your responsibility to regularly check the course Blackboard site. Required Calculator: If you choose, you may use a basic 4­function calculator during the exams. Other calculators are unacceptable; i.e. you will not be allowed to use any type of calculator that can store memory, your neighbor’s calculator, the calculator on your cell phone, etc. Grading: Quiz: 5% (Jan, 27) Exam I: 25% (February, 10) Exam II: 25% (March, 21) MEL Homework Assignments and Recitation Participation: 15% Final Exam: 30% (TBD) Each student’s final course grade will be based on a final course score calculated from the scores of these grading opportunities (quiz, three exams, homework, recitation participation (attendance will be taken) and the weightings listed above. The statistical mean and standard deviation of the class scores will be calculated and used to rank order and qualitatively assess each student’s relative and absolute performance. A “B” is a good grade, as evidenced by the fact that is represents an honors level. A “B” represents above­average work. An “A” represents impressive, superlative work across all areas. Average work falls in the B­/C+ range. If school is canceled (e.g. snow day) on the day of a scheduled exam, the exam will be given the next class meeting. There are no make­up exams. Absences may be excused on a case­by­case basis due to illness, family emergency or other unforeseen and unavoidable circumstances; please contact your Recitation Leader as soon as possible and be prepared to present documentation. Grade Distribution 93% & above 90 – 92%    86 ­ 89%    A A­8  3 ­ 85%    B+ B8 0 ­ 82%    B­ C+76 ­ 79%    C C­ 73 ­ 75%        70 D+ D ­  72%    D­ F66 ­ 69%      63 ­ 65%      60 ­  62%   59 & less    Note: These grading thresholds are firm; in order to receive a particular grade you must earn a cumulative grade average within the ranges specified above. Final grade will be rounded to zero decimal places.  Academic Integrity: I expect all students to do only their own work on exams. Any breach of academic integrity (i.e. cheating on an exam) will result in a failure for the entire course.  Other Suggestions: Come to class regularly since most exam questions will be based on topics we discuss in class. Many of these topics are covered in the text, and SOME ARE NOT. Ask questions early and often. Come to office hours if you have additional questions. Please, for your own good, don't wait until right before a test to seek assistance from me or your Recitation Leader. Attendance: Recitation is an essential part of the instruction for this course and as such attendance will be taken and participation is part of the grade. During recitation, students have the opportunity to seek clarification of course concepts, homework and example questions and problems and prepare for exams. Homework: Homework assignments will be given throughout the semester. The purpose of the homework is to get you to begin working with the conceptual material presented in the lectures. Homework problems will be assigned through MEL. Late assignments will not be accepted. If at any point you experience technical problems accessing or completing the homework immediately contact MEL technical support.  Do not email the instructor/TAs before communicating with MEL technical support. The instructor/TAs are not MEL technical support and do not know how nor are they able to resolve MEL technical issues.  Homework is due before class on the due date listed in the schedule below. The exact due day and time of the upcoming assignments will also appear on MEL when you log in. Students with Disabilities: If you are a student with a documented disability who will require accommodations in this course, please register with Disabilities Resource Center for assistance in developing a plan to address your academic needs. Students are required to give reasonable notice (a minimum of 8 business days) prior to requesting an accommodation. Course Outline:  The following is a preliminary course outline. Details may change as we progress through the course, I will alert you to these changes as they happen. Chapter Homework due Topics s (Subject to change) Introduction  1 Thinking Like an Economist  Seven Principles of Economics 1 Jan, 20: Register Demand and Supply 3 for MEL! Equilibrium 3 Elasticity 6 Jan, 25: HW 1 Jan, 27: Quiz Government Policies 4 Government Policies 4 Feb, 1: HW 2 Welfare Economics 4 Efficiency 4 Catch up & Review Feb, 8: HW 3 Feb, 10: Exam 1 Externalities 5 Public Sector Economics 5 Comparative Advantage 2 Feb, 18: HW 4 International Trade 9 Consumer Choice 10 Feb, 24: HW 5 Consumer Choice 10 Costs of Production 11 Feb, 29: HW 6 Costs of Production 11 Costs of Production 11 Competitive Mkts ­ Short Run 12 March, 14: HW 7 Competitive Mkts ­ Long Run  12 Catch up & Review March, 17: HW 8 March, 21: Exam 2 Monopoly 15 Monopoly and Pricing Strategies 15, 16 Monopolistic Competition 13 March, 28: HW 9 Monopolistic Competition 13 Oligopoly 14 March, 31: HW 10 Game Theory 14 Pricing Strategy 16 April, 6: HW 11 Mkts for Factors of Production 17 Mkts for Factors of Production 17 Public Choice, Taxes and  April, 13: HW 12 Distribution of income 18 Public Choice, Taxes and  18 Distribution of income Catch up & Review April, 20: HW 13


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