Fall 1998 Economics 201 R. FisherIntroduction to MicroeconomicsThe Colander text is the main book for this class - everyone should have easy access to a copy and use it.Help:Evaluation:Evaluation Summary:Reading:Extra-Credit AssignmentsDue DateASSIGNMENT 1ASSIGNMENT 2QUIZASSIGNMENT 3EXAM IEXAM IIThanks!Fall 1998 Economics 201 R. FisherIntroduction to MicroeconomicsAbout the Course: This course is an introduction to microeconomic principles and is intended to develop basic understanding of economic institutions, reasoning, and analysis. In the class, we will introduce the basic tenets of microeconomic theory and practice applying those ideas to economic policy issues.Texts: David C. Colander, Microeconomics, (Irwin McGraw-Hill, Third Ed., 1998)Douglas Copeland, Student Workbook for use with Colander's Microeconomics, (Irwin McGraw-Hill, Third Ed., 1998).Class Illustrations and Examples, Fisher, available as a course pack only at the Student Book Store.The Colander text is the main book for this class - everyone should have easy access to a copy and use it. The Student Workbook will be used for regular and extra-credit assignments. It also may be very helpful to those students who want a review and additional practice problems.The Illustrations and Examples course pack includes many of the cases we will cover in lecture; please bring it to each class!Help:Web Page: Class materials, announcements, and practice problems can be found at: www.msu.edu/course/ec/201/fisherI encourage you to explore this site and check it frequentlyProfessor Fisher: 311 Olds HallHours: 10:00 a.m. – 12:00 noon Thursday, or by appointmentPhone: 355-2326E-mail: [email protected] Room: The Department of Economics operates a help room for students takingEcon 201. The room is staffed by economics teaching assistants who are available to answer your questions and help with problems. The Econ 201 Help room is in Room 115(formerly known as the ConCon Room) which is located in the International Center. Its hours are 3:00 –9:00 p.m. on Sunday, Monday, Wednesday and Thursday and from 6-9:00 p.m. on Tuesday.1Evaluation:(1) ATTENDANCE in lecture is important in this economics class. It is very important for you to understand the material when it is presented, as it becomes the basis for the next topic. Examples and applications not covered in the book will be presented, including illustrations from current policy issues, and techniques for solving problems will be demonstrated. Attendance will be taken electronically using your MSU student I.D. card. Use the scanners at the doors to register your attendance. You receive 1 point for each class attended, up to a maximum of 23 points. (Because there are 28 class meetings after the first one, you can miss 5 class sessions without losing points. Remember to bring your ID card eachday. (2) There will be nine (9) PROBLEM ASSIGNMENTS due as shown on the schedule. These assignments are due in class on the days required and will be graded on a credit/no-credit basis. Each assignment is worth 4 points and a maximum of 32 points total. (So there is no penalty for missing one assignment).(3) There will be one QUIZ on September 22. The quiz will consist of one problem, take 15 minutes, and be worth 7 points.4) There will be two (2), IN-CLASS EXAMS, one to be given on October 13, and the other on November 17. Each will be worth 29 points. No make-up exams will be given. Unexcused absences from the exams result in zero points. Excused absences to any exam must be arranged before the exam is given.(5) The purpose of the classes, assignments, and exams, is to provide you information about your progress and to prepare you for the final exam. The FINAL EXAM will be given from 12:45 p.m. – 2:45 p.m. on Wednesday, December 16. Requests to take the exam at different times will not be considered, except for serious illness. The final exam will be worth 80 points.(6) EXTRA CREDIT POINTS can be earned by doing extra assignments, as noted in the attached schedule. You will receive two points for each extra assignment completed, up to a maximum of 10 extra-credit points.Evaluation Summary:Class attendance = 23 points (maximum)9 Assignments at 4 points each = 32points (maximum)1 quiz at 7 points = 7 points2 Exams at 29 points each = 58 points1 final exam at 80 points = 80 points 200 pointsExtra Credit at 1 point each 0-10 points2Reading:I. Introduction to MicroeconomicsColander, Chapter 1 (including both appendices)Chapter 2, pp. 31-40II. Supply and Demand: The Basics Colander, Chapters 3 and 4III. Elasticity, Demand and ApplicationsColander, Chapter 7Chapter 8 (excluding appendix)IV. Production and Cost, Colander, Chapter 9Chapter 10 (excluding appendix)V. Competitive MarketsColander, Chapter 11Chapter 15 (excluding appendix)VI. Noncompetitive MarketsColander, Chapters 12 and 14VII. Factor MarketsA. Labor MarketsColander, Chapter 21 (including appendix)B. Capital MarketsColander, Chapter 22C. Income Distribution,Colander, Chapter 20VIII. Externalities Colander, Chapter17 (excluding appendix)Chapter 18IX. International MarketsColander, Chapter 2, pp. 40-45Chapter 233Extra-Credit Assignments Due DateExtra-credit Assignment A: Workbook, Ch. 3, Problems 2,3,4,5,7 September 15Extra-credit Assignment B: Workbook, Ch. 9, Problems 2,3 October 6Ch. 7, Problem 5Ch. 10, Problems 6,7Extra-credit Assignment C: Workbook, Ch. 11, Problems 1,2; October 27Colander, Ch. 15, Problem 2Ch. 11, Problem 4Ch. 18, Problem 4Extra-credit Assignment D: Workbook, Ch. 12, Problem 4, 5, Brain Teaser #1Colander, Ch. 14, Problems 2, 4 November 10Extra-credit Assignment E: Workbook, Ch. 21, Problems 1, 2, 3, A1- December 8Ch. 17, Problem 44Economics 201, Fall 1998, Professor FisherTuesday ThursdaySEPTEMBER 1Introduction, Chapters 1 & 23Demand & Supply, Chapter 38Demand & Supply, Chapter 410Elasticity, Chapter 7ASSIGNMENT 115Elasticity17ApplicationsASSIGNMENT 222QUIZDemand, Chapter 824Demand, Chapter 829Production & Cost, Chapter 91Production & Cost, Chapter 10ASSIGNMENT 3OCTOBER 6Competitive Markets, Chapter 118Competitive MarketsASSIGNMENT 413EXAM I15Competitive Markets, Chapter 1120Markets, Chapter 1522Monopoly, Chapter 12ASSIGNMENT 527Monopoly, Chapter 1229Monopoly, Chapter 14NOVEMBER 3Labor Markets, Chapter 215Labor Markets, Chapter 21ASSIGNMENT 610Labor Markets12ASSIGNMENT 717EXAM II19Capital Markets, Chapter 2224Income Distribution, Chapter 2026Thanks!DECEMBER