JWB Econ52 syllabus Spring 2019 PDF

Preview

Summary

Syllabus...

Description

Pomona College Department of Economics

Econ 52: Principles of Microeconomics Spring 2019 Course Syllabus and Outline Prof. Jennifer Ward-Batts M, W 11:00-12:15 (CA 107); 1:15-2:30 (Hahn 101); 2:45-4:00 (CA 107) Email Office Office hours [email protected] Mon 4:00-5:00 or [email protected] Carnegie 203 W 9:00-10:00 & by appointment ***** Fine print: your continued enrollment indicates that you have read, understand, and agree with this syllabus *****

Economics is a way of thinking about (analyzing) choices made by individuals and firms, and the interactions and impacts of these choices. Economic principles can be used to analyze a wide variety of issues, not limited to choices involving money. Your mission in this course, if you choose to accept it, is to learn the foundations of microeconomic theory and how to apply the economic way of thinking to solve problems, make decisions, assess policies, and predict how behavior of individuals and firms will change when something in their environment changes. This mission will be challenging, but success will be well-rewarded. To help you accomplish your mission, we will use various methods and resources in this class: 1) We will use market simulations -- both in-person trading-pit simulations and computer-based simulations -- during class to demonstrate some economic principles. 2) We will work through example problems and applications (in class and in homework assignments) 3) You will practice applying new knowledge to real world topics in various assignments…. 4) Including a group presentation at the end of the semester. Course Textbook and other Materials • Paul Krugman and Robin Wells Microeconomics 4th Edition Worth Publishers (without Aplia). • Theodore Bergstrom and John H. Miller Experiments with Economic Principles: Microeconomics 2nd Edition McGraw Hill. Note: This textbook will be available on our course Sakai site. • Moblab subscription. ($18 at Moblab.com. Signup details coming ASAP). We will use Moblab to do some experiments using online software. You can use Moblab with a laptop, tablet, or smartphone. I will remind you of dates when you should bring a device with you to class. Pre-requisite: Econ 51 Principles of Macroeconomics (except EA majors). You should also be familiar with algebra, percentages, and have a good understanding of graphs. If you need a refresher, please ask me about resources. Learning Outcomes: After completing this course, the successful student will be able to: 1. Correctly identify costs and benefits of an action/option and distinguish costs from benefits 2. Compare costs and benefits to make an optimal choice 3. Analyze and explain how costs and benefits accruing to many independent economic agents generate market demand and supply. 4. Predict how a change in costs or benefits to sellers or buyers will impact market outcomes in various market types Page 1

5. 6. 7. 8.

Communicate verbally and graphically about markets and changes in markets. Evaluate and compare efficiency of various market types under specific conditions Identify market failures and both the source and amount of inefficiency they generate Evaluate government policies and infer their impacts on a. incentives and constraints of consumers/workers and firms b. market outcomes, including price, quantity traded, and efficiency.

Grading: The final course grade will be computed as follows: Regular homework assignments Experiment Participation (can miss 1 with no penalty) Attendance/participation and Clicker quizzes Group project/presentation 2 of 3 midterm exams (each counts 20%)** Final Exam ** See policy below on dropping one exam score. The grading scale for the course grade is as follows: A C ≥ 95% A90-94% CB+ 86-89% D+ B 82-85 D B78-81 DC+ 75-77 F There will be no “extra credit.”

18% 5% 5% 7% 40% 25%

72-74 69-71 66-68 63-65 60-62 ≤ 59

Exams See course outline on Sakai for dates and times. There are 3 “mid-term” exams. None are comprehensive except to the extent that the material is comprehensive in nature. There will be a comprehensive final exam. You must take the final exam. I will drop the lowest of the 3 midterm scores. If you fail to take one of the first 3 exams for any reason, then that is the score that will be dropped. There will generally be no other make-up exam opportunities. The prudent student will strive to do well on each exam in case unforeseen illness or other impediment arises on a later exam date. You cannot drop the final exam. If the final exam is the lowest of the 4 scores, it will count 15% of the course grade and the remaining 3 exam scores will be reweighted to count collectively as 50% of the course grade (i.e., 50/3 %). This alternative to dropping a midterm exam score will be used only if it results in a higher course score. Graphing calculators are not allowed on some exams for this course. Please obtain access to a simple or scientific calculator. Use of cell phones (or other devices, other than a basic or scientific calculator) and wearing of a hat with a bill is prohibited during exams. I will have a few loaner calculators available during exams, but not enough to go around. Experiments During the semester there will be several in-class economic experiments (market simulations). Grades for these are generally based on participation but I reserve the right to also consider your experimental “profits,” so take them seriously. Dates of experiments are in the class schedule posted on Sakai. Any changes in this schedule will be announced in class and/or on Sakai. You may miss one experiment with no penalty. If you absolutely must miss a 2nd, see me about arrangements for a substitute assignment. This option is only available once per semester per student. Note that arriving Page 2

late to class may exclude you from participation, and therefore from credit for that experiment. Assignments Homework will generally consist of problems from the textbook, and warm-up and homework exercises from each in-class experiment. There may be occasional other assignments. I will not accept any assignments via e-mail or Sakai, unless I have explicitly asked you to submit a particular assignment electronically. Homework cannot be submitted late, and homework cannot be made up. I will drop the lowest problem set score. If you miss an assignment that is not a problem set, I may consider giving you an alternate assignment, but it will be more onerous than the original. You should do your own work on assignments unless otherwise specified in class. Generally, I encourage you to work with others, by discussing concepts and strategies for solving a problem, but you must do the work yourself. Else you will not be able to do it yourself (e.g., on an exam, or in the real world). Additional practice problems are available. If you want even more, please ask. You do not generally have to type assignments (I will announce exceptions), but please ensure that your work is neat and readable. Both English and math should generally be complete sentences. Attendance, Participation, and Preparation for Class For logistical reasons, if you arrive after an experiment begins you may not be able to join. Please be on time. If you are late to class, minimize the disruption you cause, and don't make a habit of it. Reading the text and coming to class are NOT SUBSTITUTES in this class. I will not repeat everything from the text in lecture and will strive to spend considerable class time on problems and examples. You should therefore read the relevant chapter and any other assigned readings before class. There will be frequent Clicker quizzes at the start of class to gauge whether you have done the readings. These quizzes cannot be made up if you are late. Readings for each class meeting are listed on the course outline on Sakai. Any additional readings will be distributed in class or posted on Sakai. If you do not understand material after having carefully read the text, I encourage you to ask questions in class. If you still don't understand something after class, you should seek help from me (after class, via email, or in office hours), from a fellow student, from our course mentor, etc. Technology use & other disruptions Use of phones, laptops, tablets, and other electronic devices (calculators excepted) is forbidden during class, unless we are actively using these devices for a class purpose. Except during market simulations for which we will use computers/tablets/smartphones, these devices should generally remain off and put away until you leave the classroom. (I will allow devices used exclusively for note-taking, and reserve the right to look over your shoulder to ensure that is the only use. Please speak with me privately if you intend to take notes via an electronic device.) Please turn phones off or put them on “do not disturb” during class. Do not disrupt class or distract other students via inappropriate behavior in the classroom. Please show respect for the professor and for your fellow students in general, including by turning off your cellphone and music before entering the classroom, coming to class on time and not leaving early (except on rare occasions when it cannot be avoided). Do not have private conversations during class as it is distracting to others. If you have a point or question to raise, we’d all like to hear it! I encourage interaction in class. Available Assistance I encourage you to make use of your fellow students via study groups. I encourage you to ask questions during class, as the answers may be beneficial to others as well. If you are behind with the Page 3

material, or if you are having trouble understanding something that the vast majority of other students understand, then I’ll ask you to talk with me outside of class. Please do not hesitate to come to my office if you have questions or if you simply lack confidence in your understanding of the material. My office hours are given above. You may also make appointments to see me at other times, and I will do my best to accommodate your schedule. I will also attempt to answer questions via email whenever feasible. When the mentor for this class has been confirmed, I will announce that person’s availability. If you need additional help, please see me ASAP. WARNING: This course will move at a fast pace. Do not allow yourself to get behind! If you are struggling to understand the material, get help right away – don't put it off! Communications We will use standard academic American English in this class. If you communicate either verbally or in writing with me or with other students, please observe this standard. Learning to observe a more formal communication style in certain settings should be part of your university education, since it will be expected of you as an educated worker. If you send me email, it should have a salutation, body, and closing, and should have a relevant subject line that conveys information about the purpose of the message. Please indicate in your message which course you are registered in. Please include your full name in the email message. Econ Dept Notice about Email Communications: Because we function as a community where we all have many demands on our time, respecting the time of others is crucial. To this end, all members of the Department of Economics community need reasonable expectations about how time is allocated outside of class. Faculty try to give students ample advance notice about deadlines and to honor times when students have extracurricular activities. We ask that students extend the same courtesy to faculty, who also have additional demands on their time. So, if you email us, expecting an instantaneous response is not reasonable. Instead, expect a response within a few days. However, please note that response times can be longer over weekends and holidays. If it’s an emergency, faculty will try to get back to you sooner. A polite reminder follow-up is a good idea if the professor doesn’t respond in a few days. Office hours are the usual time when faculty are available to answer student questions. However, if you absolutely cannot make office hours, you may ask for an individual appointment and we will try our best to accommodate you. Note, though, that this may not always be possible. Thank you for your understanding. Personally, I will strive to respond within 48 hours, and ask that you send a reminder message if you do not have my response within that time.

Student Accommodation Services If you have a documented difference or disability that requires accommodations, you will need to register with Accommodation Services (see https://www.pomona.edu/accessibility/studentaccessibility/accommodation-services) for coordination of your academic accommodations. Please make sure that I receive notice of your need for accommodations as soon as possible. Academic Integrity My policy is zero tolerance. Academic dishonesty (plagiarism, cheating, etc.) will be taken very seriously and will be prosecuted according to College policy. It is the student’s responsibility to be familiar with the Pomona College Academic Honesty Policy, which you will find at http://catalog.pomona.edu/content.php?catoid=7&navoid=394. See course schedule/outline on Sakai.

Page 4...