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UW-Madison ECON 101 - ECON 101 Syllabus

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ECONOMICS 101INTRODUCTORY MICROECONOMICSFALL 2010 Instructor: Elizabeth Sawyer KellyOffice: 7416 Social ScienceOffice Phone: 608-262-8829Office Hours: Before class and after class, and by appointmentE-mail: [email protected]: www.ssc.wisc.edu/~ekelly/econ101 TEXT:Microeconomics by Paul Krugman and Robin Wells, second edition, Worth Publishers, 2005. Note: if you choose to use the first edition you will need to spend time reconfiguring the reading list to fit that text. The second edition does involve substantial organizational changes from the first edition. It is also highly recommended that you read current event publications which cover economicevents: among these recommended publications are The New York Times, The Wall Street Journal, Business Week, The Financial Times, Barron’s, and The Economist. OVERVIEW: Economics is the study of the production, allocation and distribution of goods and services in a world where resources are scarce. In this course we will explore some basic concepts: the notion of scarcity and how it relates to opportunity cost; supply and demand; taxation and other government programs; externalities and public goods; production and cost theory; perfect competition,monopoly and other types of market structures; factor markets; and consumer theory. We may consider other topics as time allows.COURSE WEBSITE: www.ssc.wisc.edu/~ekelly/econ101Practice questions and problems are available on the course website. In addition, important information with regard to exams,TA contact information, andannouncements will be posted on this website. It is your responsibility to check the website for announcements, assignments, and any possible changes related to the course plan. COURSE STRUCTURE AND GRADING POLICY: 1. LECTURES:There will be two lectures and a discussion section each week. Students are expected to have completed the reading prior to lecture. Attendance isnot mandatory at the lectures, but exams will focus primarily on material presented in lecture. A second reading of the textbook after the lecture will greatly enhance your understanding of the ideas being presented. After the first two weeks of class the pace of the class and the difficulty of the material presented increases: students should make everyeffort NOT to miss class since the pace of the class is fast. 2. DISCUSSION SECTIONS:1Attendance at discussion sections is highly recommended. Your Teaching Assistant will take attendance at every meeting. Discussion sections provide an opportunity to ask questions, go over problems from the large lecture or from the webpage, and generally reinforce material that has been presented in lecture. The discussion section is also the place where more complicated and challenging problems will be explored: these problemswill build off the material presented in the large lecture. Your T.A. willbe available during the discussion section and during office hours to answer your questions. In addition to attending the discussion section that you are enrolled in, you are also welcome to attend other discussion sections. 3. GRADES:There will be two midterms and a final exam as well as five homework assignments. The weights for the midterms, final, and homework are as follows:MIDTERM I: 25% of gradeMIDTERM II: 25% of gradeFINAL: 40% of grade5 Homework Assignments: 10% of gradeAlthough attendance is not required at class you are responsible for any material, written assignments, reading material, etc. covered or assigned in class.The format of the midterm exams and the final will be announced in class prior to the date of the exams.Midterm exams will be held in class: students should plan to arrive at their assigned classroom fifteen minutes early on these dates in order that the exam can start on time. Students arriving late will not receive compensating time: all exams must be turned in to the proctor at the end of the allotted exam time. THERE ARE NO MAKEUP MIDTERM EXAMS. If you miss an exam and have a valid excuse, your final exam grade’s weight will be increased to make up for the missing midterm. If you do not have a valid excuse, you will receive a zero for that exam. Job interviews and travel plans (except as required by university-sponsored activities) do not constitute valid excuses for missing an exam. Students should plan tobe in Madison, Wisconsin until they take the final exam. If you are unable to take an exam because of a valid excuse, please contact me in advance, if possible.The final will be comprehensive and cumulative. Homework assignments will be posted on the web and will be due on their assigned dates at the class lecture. NO LATE HOMEWORK ASSIGNMENTS WILL BEACCEPTED. THERE WILL BE NO MAKEUP HOMEWORK. If you fail to turn in homework you will receive a zero for that homework. All homework must be turned in at the beginning of class lecture (NO EXCEPTIONS TO THIS!) Students may work together on homework assignments, but must submit their own answers independently. Sharing knowledge does not mean sharing 2homework. Answers that are copies on one another will be treated as violations of academic integrity and will be punished accordingly.Exam Dates:Midterm I: Tuesday, October 5, 2010Midterm II: Tuesday, November 9, 2010Final Exam: Sunday, December 19, 2010 at 7:45 a.m.Homework Due Dates:Homework #1: Tuesday, September 21, 2010Homework #2: Thursday, September 30, 2010Homework #3: Tuesday, October 26, 2010Homework #4: Tuesday, November 2, 2010Homework #5: Tuesday, December 14, 2010NOTE: Failure to do the homeworks competently, thoroughly and consistently really hurts your grade: students who choose not to do the homeworks will find that their final computed weighted average grade is significantly impacted by this decision.NOTE: Please make a copy of your homework before submitting it so that you can compare your answers to the web-posted answers. Answers will be posted the day the homework is due and you will want to be able to verify that your work was accurate prior to the midtermsand final. NO EXAM GRADES WILL BE DROPPED. LOW GRADES WILL NOT BE DROPPED.THERE WILL BE NO MAKEUP EXAMS TO REPLACE MIDTERMS THAT HAVE BEEN MISSED.Grading: Your grade will be based on your overall performance. The finalgrade distribution will fall roughly along the following guidelines:3Top 15%: ANext 18%: ABNext 20%: BNext 20%: BCNext 18%: CBottom 9%: D and FPROFESSOR KELLY'S EXPECTATIONS FOR HER STUDENTS: - Students will find their


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UW-Madison ECON 101 - ECON 101 Syllabus

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