“The ideas of economists and political philosophers, both when they are right and when they are wrong, are more powerful than is commonly understood. Indeed, the world is ruled by little else. Practical men, who believe themselves to be quite exempt from any intellectual influences, are usually the slaves of some defunct economist. Madmen in authority, who hear voices in the air, are distilling their frenzy from some academic scribbler of a few years back. I am sure that the power of vested interests is vastly exaggerated compared with the gradual encroachment of ideas… But, soon or late, it is ideas, not vested interests, which are dangerous for good or evil…” John Maynard Keynes ECO 105 Principles of Economics Oguzhan (Oz) Dincer Spring 2014 Contact: Office : Stevenson 426G E-mail : [email protected] Office Hours: TBA Lecture: M W 10.00-11.50 AM. CVA147 Text: Economics: Principles, Applications, and Tools by O’Sullivan, Sheffrin, and Perez (MyEconLab with Pearson eText 8TH Edition) You will need access to MyEconLab to be able to complete homework assignments, quizzes, and exams as well tutorials. To be able to access MyEconLab with Pearson eText 8TH Edition, make sure you have the following 3 things: 1. Email 2. Course ID: dincer61346 3. Credit Card or PayPal Account To get registered: 1. Go to www.pearsonmylabandmastering.com. 2. Under the large Register section on the right side of the page, and click the Student button. 3. Read the onscreen instructions and click OK! Register now. 4. Next, enter the Course ID for your course (listed above). 5. After this, either Create a new Pearson username and password, or, if you’ve already registered for another Pearson product (i.e. MyMathLab), Sign In with that username and password. 6. On the next page, purchase access by clicking on the purchase options under the Use a Credit Card or PayPal section.7. You are now registered! Now, it’s time to sign. Go to www.pearsonmylabandmastering.com and click the Sign In button in the top right. Enter your username and password. Course Description: The purpose of the course is to discuss the key issues in micro and macroeconomics. The first half of the course covers macroeconomics and the second half covers micro. Macroeconomics: We are going to examine the economy as a whole. After discussing the long-run issues, we are going to discuss policy issues in the short-run. Microeconomics: We first are going to discuss how markets work within the context of a simple model of supply and demand. Then we are going to examine the firm and consumer behavior individually. Exams: There will be two midterm exams and a final exam for the course (again, you will be using MyEconLab). Each exam will comprise 25 percent of your grade, and will cover a set of material that will be specified in the last class prior to exam. Regarding the make-up policy, there will be no make-up exams. If there are extenuating circumstances, I should be notified before the test date. I will review the situation and if warranted the final exam will replace the missed midterm exam. Homework Assignments: There will be 20 Homework Assignments (each 10 points). Homework assignments will comprise 10 percent of your grade. You will have 2 attempts to complete each homework assignment. Quizzes: There will be 20 Quizzes (each 10 points). Quizzes will comprise 10 percent of your grade. You will have 2 attempts to complete each quiz and you will have to complete each quiz in one session. Quizzes will be timed and you will be able to see the time remaining during the quiz. Study Plan: Using the Study Plan (covering all of the chapters which will be covered during the course), you will collect Mastery Points which will comprise 5 percent of your grade. Grading Scale: F below 60; D 60-69; C 70-79; B 80-89; A above 90Students with special needs: If you have a disability and need assistance, please make arrangements to meet with me soon. Academic integrity: Any violations of academic integrity involving an exam or homework will result in a failing grade for the course. In addition, a complaint will be filed with the University’s Hearing Board. Tentative Course Outline: Class Chapter HW, Quiz, SP, Exam etc. Week 1 Intro, 1 and 1A HW 0, 1and Quiz 0, 1 Week 2 2 HW 2 and Quiz 2 Week 3 3 and 4 HW 3, 4 and Quiz 3, 4 Week 4 5 and 6 HW 5, 6 and Quiz 5, 6 Week 5 8 and 12 HW 7, 8 and Quiz 7, 8 Week 6 13, Exam 1 (Feb. 19, 2014) HW 9 and Quiz 9 Week 7 14 and 15 HW 10, 11 and Quiz 10, 11 Week 8 19, 20 HW 12 and Quiz 12 Week 9 Break Week 10 20, 21 HW 13, 14 and Quiz 13, 14 Week 11 22, Exam 2 (March 26, 2014) HW 15 and Quiz 15 Week 12 24, 25 HW 16 and Quiz 16 Week 13 25 HW 17 and Quiz 17 Week 14 26 HW 18 and Quiz 18 Week 15 27 HW 19 and Quiz 19 Week 16 32 HW 20 and Quiz