Economics 1 Page 3Winter, 2005Computer ProjectQuiz Section RequirementsSome SuggestionsII. The Market Mechanism: Elements of Price TheoryMidterm February 9 (Covers Chapters 1,2, 2A 3, 4, 5,6, 10)Other Class Web FeaturesJan. 10Jan. 17Jan.24Jan. 31Feb. 2Feb. 7Feb.9Feb. 14Feb. 21Feb. 28March 7March 7March 14March 14March 16Principles of Economics -- Microeconomics Winter, 2005 Economics 1 University of California, Los Angeles Dr. Anne Bresnock Office: Bunche 2250 Office Hours: MW 9:15 – 10:15 a.m. Phone: (909) 869-4593 and (310) 267-4848 E-Mail: [email protected] and [email protected] Research Website: www.class.csupomona.edu/earth.html (See Economics section.) Required Text: Paul Krugman and Robin Wells Microeconomics (New York, NY: Worth Publishers, 2005), and accompanying study guide. ClassWeb: http://www.sscnet.ucla.edu/05W/econ1-1/ Text Website: http://www.worthpublishers.com/krugmanwells Course Objectives: The key objectives in this introductory course in microeconomics include: 1. The student should develop a solid foundation of basic economic concepts pertaining to the market system. The nature and method of decision-making units -- consumers, producers, and governments--to make choices while constrained by limited resources will be carefully analyzed. Additional constraints to the decision making process-government regulations, imperfect competition, etc.--will also be investigated. 2. The student should develop an understanding of the institutional framework of the American economy within which our system of mixed capitalism operates. Thus, an analysis of the various ways producers organize their business, the role of labor unions in labor markets, the role of taxes in directing economic choices, the effect of government regulations on production decisions, etc., will be pursued. 3. The student will develop the ability to apply basic economic concepts and principles to problem situations. In order to accomplish this problem solving aptitude, the student will acquire the basic methodology and tools of analysis necessary to formulate economic decisions. Often the ability to select and utilize economic data to reach a solution will be required as well as a comprehensive justification of the solution. 4. The student will develop the ability to communicate the logic of economic thinking qualitatively and quantitatively. Through the use of objective, problem set and essay testing techniques, the student will be expected to utilize the principles of economics, to analyze and synthesize answers to problem situations. 5. Finally, the student will develop a better understanding of the role of economics in our sociopolitical environment as well as the role economics plays in decision making processes that crossover to other disciplines -- the arts, natural sciences, and other social sciences. Such knowledge is important to gain awareness of the overall operation of society.Economics 1 Page 2 Winter, 2005 Testing and Grading: There will be two examinations. Please note the exam dates that are listed in the attached syllabus. Under no circumstances are make-up examinations given. Students missing a test for a serious and unavoidable reason will be excused from that test if the professor approves acceptable documentation for such an excuse prior to the exam date. Students with approved excuses will receive a grade computed by averaging their remaining course work. Students missing an examination without a valid reason will receive a zero grade for that exam. No one will be excused from the final exam. The midterm and final examinations will contain multiple choice (80%), and problem-solving, or essay (20%), sections. For example, each test will consist of 40 multiple-choice questions worth 4 points each, or 160 points, and 2 problems or essays worth 20 points each, or 40 points, for a total of 200 points. The problems or essays will typically require graphical, numerical and/or a brief verbal analysis, and be no more than one - two pages in length each. Your grade in Economics 1 will be determined as follows: Total Maximum Points Computer projects (2 @50 pts. each) 100 ( 20.0%) Midterm examination 200 ( 40.0%) Final examination 200 ( 40.0%) Total Course Points 500 (100.0%) 4 Bonus On-line Survey 40 points Grading Scale Total Accumulated Points Course Grade 90 - 100% 450 - 500 A- to A 80 - 89% 400 - 449 B- to B+ 70 - 79% 350 - 399 C- to C+ 60 - 69% 300 - 399 D- to D+ Below 60% 0 - 299 F Note: An A+ is 97% and up, A is 93% to 96.99%, an A- is 90% - 92.99%, etc. Your grade in Economics 1 is thus determined solely on the criteria described above, not on the basis of “need” or special circumstances. There will be no extra credit opportunities to raise your grade in the class as well as in the quiz sections. Incompletes are strictly forbidden in this course except in highly extraordinary and unavoidable circumstances. Please immediately consult university policy and specific dates to drop a class. You are expected to adhere to university drop policies. The instructor will make no exceptions unless highly extraordinary and unavoidable circumstances should prevail. Students taking the class on a pass/no pass basis must complete all course requirements. To receive a Pass grade you must earn a minimum grade of a C (73%) in the course overall.Economics 1 Page 3 Winter, 2005 Computer Project Each student will complete two computer projects. Due dates for the projects are listed in the course syllabus. Late computer projects will not be accepted since the answer keys will be posted on the course website the day they are due. Students should make a Xerox copy of the assignments for immediate review purposes. All of the module information is posted on the Class Web site in the under “SimEcon” in the “Class Materials” section All students will complete Computer Project 1 on the Markets Module. There is an old assignment for the Markets module (and an answer key) posted to the Class Web site in the “SimEcon” section that will give you an idea of what this assignment will entail. The TAs will assign one additional computer project to each student.