Course DescriptionInternational PerspectivesPrerequisitesReadingsDisabilitiesRecitationProblem SetsExamsGrading PolicyGrading ScaleGrade Disputes for ExamsResources outside of the lecturePrinciples of MicroeconomicsECON 1101 - Fall 2009Department of EconomicsUniversity of MinnesotaSyllabusLectures: M W 4:00pm - 5:15pm (Rm. HMH 1-106)Website: http://www.econ.umn.edu/~amin0066Office: HSS 228EHours: T 3:00pm - 4:00pm AND W 5:30pm - 6:30pmInstructor: Minesh D. AminEmail: [email protected]: (624) 624-9345Fax:Course DescriptionEconomics 1101 is an introductory course in microeconomics. The course develops the basic theoryand discusses applications. Critical thinking and the use of models to solve problems is emphasized.International PerspectivesThis course satisfies the CLE requirements for an International Perspectives Theme course. Themodern economy is a closely knit global network. Econ 1101 aims to clarify and explain theseworldwide interconnections. In additional to the traditional analysis of international trade andtrade policy, microeconomics offers broad insight into the world economy. Specifically, analyses ofcompetition and monopoly, tax policy, externalities and public goods, are all crucial for understand-ing 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 empha-size international perspectives. For example, one case tackles the issue of global warming bydiscusses global economic policies to limit carbon emissions. Another case examines Chinasgrowth as a manufacturer and contrasts it with the United States. A third compares healthcare choices in Canada to those in the United States. A fourth compares incentives of bankmanagers 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 theclass with links to additional information for the interested student. Each case is discussedin lecture. This is core material that students will need to know for exams.• Problem Sets: International News Analysis. Each of the eleven problem sets assignedthroughout the semester will feature an International News Analysis Problem. This problemwill involve a reading assignment from a news source and then questions about the reading.PrerequisitesStudents are expected to have basic skills in algebra and the ability to work with graphs. Homework1 provides a review of these skills.2 SyllabusReadingsThere are three kinds of reading assignments. The first is the Mankiw text listed below. The secondare the eleven International Applications (or InterApps) that are posted at the course web site. Thethird are the News Analysis readings that are included in the homework.Mankiw, N. Gregory, Principles of Microeconomics, 5th Edition, 2009. Southwestern CengageLearning.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-ringbinder version of the textbook. (The three-ring binder version also includes a supplement titledThe Global Economic Crisis. Some of this material will be discussed in class during the Dec. 14lecture.)DisabilitiesStudents with disabilities must be registered with Disability Services. Please contact DisabilityServices at http://ds.umn.edu/ then the Department of Economics, in conjunction with DisabilityServices, will make appropriate accommodations for students with disabilities. Please contact theinstructor as soon as possible if you need accommodation.RecitationIn 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 thehomework. Students will get more out of the recitation sections if they go prepared to ask questions.Problem SetsAll problems sets will be done online through the Aplia web site, www.aplia.com. Each student isrequired 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 (Exceptfor problem sets 10 and 11 which are due on Sunday). The Problem Sets will be machinegraded by 2:00 a.m. in the early morning of the next day. It is not possible to submit aproblem 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 specialcircumstances that prevent them from completing a problem set at the allotted time. Toaccommodate students in such situations, I will count only nine problem sets when deter-mining the overall problem set score for the semester. For those students who submit ten oreleven problem sets by their due dates, I will use the nine highest scores to determine theoverall homework grade.• Practice Problem Sets: In some cases, the assigned Aplia problem sets will also featurepractice problems that are not graded but are similar to problems that are graded. Forexample, in Problem Set 2, there is listed an ungraded problem, Practice: Supply andDemand I and a matching graded problem, PS2: Supply and Demand II. In such cases, Iencourage students to try the practice problem first. In the practice problems, the Apliasoftware provides feedback to the student for how to answer these kinds of questions.Department of Economics University of Minnesota Minneapolis, MN 55454Principles of Microeconomics (ECON1101) 3ExamsThere will be three exams, which will consist of two midterms and a final exam.Midterm #1 Monday - October 12Midterm #2 Wednesday - November 18Final Exam - Monday - December 21 - 4:00pm - 6:00pmMidterm Dates could possible change, and if such change occurs it will be announced in class. Alsothe final exam will be cumulative, and it is your responsibility to let your TA know if you haveanother 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 classaverage on the midterm was a 72 then I will add 3 points to all test grades to raise the average to75. If the class average exceeds 75, I will not subtract points to lower the average to 75.Grading PolicyAfter you have taken the midterms and