Principles of Microeconomics ECON 1101 Fall 2009 Department of Economics University of Minnesota Syllabus Lectures Website Office Hours M W 4 00pm 5 15pm Rm HMH 1 106 http www econ umn edu amin0066 HSS 228E T 3 00pm 4 00pm AND W 5 30pm 6 30pm Instructor Minesh D Amin Email amin0066 umn edu Tel 624 624 9345 Fax Course Description Economics 1101 is an introductory course in microeconomics The course develops the basic theory and discusses applications Critical thinking and the use of models to solve problems is emphasized International Perspectives This course satisfies the CLE requirements for an International Perspectives Theme course The modern economy is a closely knit global network Econ 1101 aims to clarify and explain these worldwide interconnections In additional to the traditional analysis of international trade and trade policy microeconomics offers broad insight into the world economy Specifically analyses of competition and monopoly tax policy externalities and public goods are all crucial for understanding the world economy Econ 1101 reflects these developments in three main ways The Theory A core component of the theory is presented in an international context International Applications The course develops a set of eleven case studies that all emphasize international perspectives For example one case tackles the issue of global warming by discusses global economic policies to limit carbon emissions Another case examines Chinas growth as a manufacturer and contrasts it with the United States A third compares health care choices in Canada to those in the United States A fourth compares incentives of bank managers in Anglo countries and Non Anglo countries related to the recent economic crisis Each case involves a short web based required reading assignment written expressly for the class with links to additional information for the interested student Each case is discussed in lecture This is core material that students will need to know for exams Problem Sets International News Analysis Each of the eleven problem sets assigned throughout the semester will feature an International News Analysis Problem This problem will involve a reading assignment from a news source and then questions about the reading Prerequisites Students are expected to have basic skills in algebra and the ability to work with graphs Homework 1 provides a review of these skills 2 Syllabus Readings There are three kinds of reading assignments The first is the Mankiw text listed below The second are the eleven International Applications or InterApps that are posted at the course web site The third are the News Analysis readings that are included in the homework Mankiw N Gregory Principles of Microeconomics 5th Edition 2009 Southwestern Cengage Learning The Economics Department has negotiated a package deal with the publisher The package costs 87 10 at the bookstore and includes an access code for the required Aplia software and a three ring binder version of the textbook The three ring binder version also includes a supplement titled The Global Economic Crisis Some of this material will be discussed in class during the Dec 14 lecture Disabilities Students with disabilities must be registered with Disability Services Please contact Disability Services at http ds umn edu then the Department of Economics in conjunction with Disability Services will make appropriate accommodations for students with disabilities Please contact the instructor as soon as possible if you need accommodation Recitation In the recitation sections the teaching assistants TAs will 1 review material from the lecture 2 address questions regarding the homework before it is due and 3 go over solutions to the homework Students will get more out of the recitation sections if they go prepared to ask questions Problem Sets All problems sets will be done online through the Aplia web site www aplia com Each student is required to enroll in Aplia There are 11 problem sets Due Dates Problem sets are due Tuesday of each week at 11 59 p m Central Time Except for problem sets 10 and 11 which are due on Sunday The Problem Sets will be machine graded by 2 00 a m in the early morning of the next day It is not possible to submit a problem set after this point Homework policy regarding illness and special circumstances In a large lecture such as this it is to be expected that there will be students who become ill or face some other special circumstances that prevent them from completing a problem set at the allotted time To accommodate students in such situations I will count only nine problem sets when determining the overall problem set score for the semester For those students who submit ten or eleven problem sets by their due dates I will use the nine highest scores to determine the overall homework grade Practice Problem Sets In some cases the assigned Aplia problem sets will also feature practice problems that are not graded but are similar to problems that are graded For example in Problem Set 2 there is listed an ungraded problem Practice Supply and Demand I and a matching graded problem PS2 Supply and Demand II In such cases I encourage students to try the practice problem first In the practice problems the Aplia software provides feedback to the student for how to answer these kinds of questions Department of Economics University of Minnesota Minneapolis MN 55454 Principles of Microeconomics ECON1101 3 Exams There will be three exams which will consist of two midterms and a final exam Midterm 1 Monday October 12 Midterm 2 Wednesday November 18 Final Exam Monday December 21 4 00pm 6 00pm Midterm Dates could possible change and if such change occurs it will be announced in class Also the final exam will be cumulative and it is your responsibility to let your TA know if you have another final exam which conflicts with this time Also scores on each exam will be adjusted so that the average grade is 75 For example if the class average on the midterm was a 72 then I will add 3 points to all test grades to raise the average to 75 If the class average exceeds 75 I will not subtract points to lower the average to 75 Grading Policy After you have taken the midterms and the final your grade will be calculated two ways Option A Option B Option C Problem Sets 20 20 20 Midterm 1 0 30 25 Midterm 2 30 0 25 Final Exam 50 50 30 Your grade is determined by whichever method gives you the higher score The procedure is done automatically so you do not need to