ECON 35100: Intermediate Microeconomics

PEW DEPARTMENT, HAMMOND CAMPUS 
ECON 35100: INTERMEDIATE MICROECONOMICS 
(CRN # 15307, SECTION 2, DISTANCE LEARNING) 
FALL 2017

 Instructor: Dr. Amlan Mitra
Online Meeting: 
Blackboard (August 21, 2017 – December 16, 2017)
Office: 
Classroom Office Building, CLO 248
Office Hours: 
Mon/Wed: Noon-1:50 P.M.; and by appointment
Telephone: 
(219)989-2313
E-mail:
mitraa@pnw.edu
Department Contact: 
(219)989-2623; Porter Hall 209, 2200 169th Street, IN 46323-2094

View Political Science Major

UNIVERSITY CATALOG DESCRIPTION

Theoretical treatment of consumer and producer behavior. Analysis of demand, production, cost, product and factor markets leading to general equilibrium and welfare implications. Emphasis is upon the development of skills necessary to analyze the behavior of individual economic agents.

Prerequisite: Undergraduate level ECON 25200 Minimum Grade of C and Undergraduate level ECON 25100 Minimum Grade of C and Undergraduate level MA 15910 Minimum Grade of C ECON 251 and MATH 225.  

COURSE DESCRIPTION

This is a distance learning course focusing on the core principles of intermediate microeconomics.  The overall goal is to provide a theoretical understanding of how individuals and firms make decisions.  Emphasis on resource allocation in a market economy, with specific focus on supply and demand interaction, utility maximization, profit maximization, elasticity, perfect competition, monopoly power, imperfect competition, competitive markets, market failures, and government interventions.

REQUIRED REGISTRATION WITH CONNECT

All students must register with McGraw-Hill Connect through Blackboard.  Click on “CONNECT ASSIGNMENTS” on your Course Home Page.

You may also order a hard copy of the text book online.  It is NOT required.  Registration with CONNECT will give you access to eBook and other course materials, including LearnSmart (SmartBook with Learning

Resources: Mobile access to study tools like key terms, math review, self quizzes, and chapter summaries. Mobile access to chapter resources such as web buttons, student PowerPoint slides, and worked problems).

OTHER RECOMMENDED MATERIALS

Wall Street Journal: It is very important for you to try to use the materials from lectures in understanding real world phenomena.  Where do you find intelligent and very current discussions of economic issues?  An excellent source is the Wall Street Journal (WSJ).

You may also visit Economics Resources websites on my homepage.

LEARNING OBJECTIVES

Upon completion of this course, you should be able to:

  1. explain the standard theory in microeconomics at an intermediate level;
  2. apply the basic tools of microeconomic theory, and apply them to help address problems in public policy;
  3. analyze the economic behavior of individuals, and explore how they respond to changes in the opportunities and constraints that they face and how they interact in markets.
  4. analyze the economic behavior of firms, and explore how they respond to changes in the opportunities and constraints that they face and how they interact in markets.
  5. analyze the impact of government intervention in the market;
  6. analyze both competitive markets, imperfect markets, markets with asymmetric information;

ASSESSMENT OF LEARNING OBJECTIVES

Completing assigned readings, quizzes, and exams in CONNECT are the basic requirements to meet the five learning objectives.   Each of these five learning objectives will be assessed in the following way:

Learning Objective Assessment Tools
1, 2 Exam 1
3, 4 Exam 2
5, 6 Final Exam

 

STUDENT EVALUATION POLICIES

GRADING POLICY:  Regular participation, completing reading assignments, quizzes, and exams on CONNECT are the basic requirements to meet learning objectives.  The student’s overall percentage score is based upon the following weights:

Extra credit up to 25 points is possible to adjust grade only if a student has completed all reading assignments, including practice review questions with 100% score.
  You have multiple attempts with unlimited time.  You are NOT ELIGIBLE for this EXTRA CREDIT even if you miss a single assignment or fail to submit an assignment with 100% score.  NO EXCEPTIONS.  No other forms of extra credit will be available.

Grading Criteria: Plus minus grading system will be used for the course based on your overall points and any adjustment for extra credit:

A+: 485 – 500;
B+: 435 – 449; B-: 400 – 414
C+: 385 – 399; C-: 350 – 364
D+: 335 – 349; D-: 300 – 314
F: Below 300

READING ASSIGNMENTS & QUIZZES

There will be reading assignments including practice review questions and quizzes every week on the assigned chapters in CONNECT.  The questions will be in various formats, such as, multiple choice, true-false, essay, graphing, worksheets, problems, discussion and essay questions.  Please check the “Course Schedule” section of this syllabus for chapter assignment.  It is your responsibility to check the due dates for all the assignments on CONNECT.  You are strongly encouraged to submit the assignments before the due dates.  Please DO NOT wait till the last moment to submit these assignments.  This way, you will have a chance to submit at a later time but before the due date and time if there are any online connection problems.  Reading assignments are due by Friday midnight.  Quizzes are due by Sunday midnight before the new chapters are assigned on the following week.  You are strongly encouraged to submit all reading assignments with 100% score for extra credit.  The purpose of these reading assignments and quizzes is to solidify your understanding of the lecture materials and prepare you for the exams.

EXAMS

There will be THREE EXAMS in CONNECT.  Exams will also be in similar format.  The tentative exam dates are:

EXAM 1: Due by September 17 (Sunday midnight), Chapters 1 to 6 EXAM 2: Due by October 22 (Sunday midnight), Chapters 7 to 12 COMPREHENSIVE FINAL EXAM: Due by December 11 (Monday midnight), All Assigned Chapters

Any changes in the exam dates will be communicated to you online at least a week in advance.  It is the student’s responsibility to note any changes in the due dates announced online.

MAKE-UP POLICY:  There are NO MAKE-UPS available under any circumstances.

A FINAL NOTE:  It is not difficult to do well in this course.  If you are to do well in this class, you must read the assigned chapters thoroughly, review the lecture notes with regularity throughout the semester, and timely submit all your assignments.  Please do not be deceived.  If you think that you will not be able to spend adequate time for this class, you are better off taking it later.

Honor Code
Academic Dishonesty Policy
Classroom Civility Policies
Students with Disabilities

Students who may need accommodations to address barriers caused by documented disabilities under the Americans with Disabilities Act or Section 504 of the Rehabilitation Act need to register with the Disability Access Center (DAC) to receive accommodations. To request and receive accommodations, students schedule an appointment with the DAC to initiate review and approval of supporting documentation showing their disability, the barriers it causes, and the recommended accommodations. If documentation is approved, the DAC will email a letter to the student’s current semester faculty members outlining the accommodations needed to ensure accessibility. Accommodations will be provided from the date the letter originates from the DAC. It is important to register as soon as possible as accommodations are not retroactive. The DAC is located at the Hammond campus in the Student Union & Library Building (SUL) 341 and Westville in the Technology Building (TECH) 101. The DAC can be reached at (219) 989-2455 or emailing: dac@temp.pnw.edu. DAC website.

Student Mental Health and Wellbeing

Purdue University Northwest is committed to supporting and advancing the mental health and well-being of our PNW students. During the course of their academic careers, students often experience personal challenges that contribute to barriers in learning, such as drug/alcohol problems, strained relationships, chronic worrying, persistent sadness or loss of interest in enjoyable activities, family conflict, grief and loss, domestic violence, difficulty concentrating, problems with organization, procrastination and/or lack of motivation. Students also sometimes come to college with a history of learning difficulties (e.g., any form of special education), experience difficulties succeeding in a particular subject (e.g., math, reading), or have experienced some form of trauma be it emotional or physical (e.g., head injury). These mental health concerns can lead to diminished academic performance and can interfere with daily life activities.  If you or someone you know has a history of mental health concerns or if you are unsure and would like a consultation, a variety of confidential services are available. The Counseling Center is located in Gyte 05 in Hammond and TECH 157 in Westville. You can also reach us at (219) 989-2366 or on the Counseling website. National Suicide Prevention Hotline at (800) 273-TALK or on the web..

Non-Discrimination

Purdue University Northwest prohibits discrimination against any member of the University community on the basis of race, religion, color, sex, age, national origin or ancestry, genetic information, marital status, parental status, sexual orientation, gender identity and expression, disability, or status as a veteran. Any student who believes they have witnessed or experienced discrimination are encouraged to report the incident to the Office of Equity, Diversity & Inclusion in Lawshe 231, Hammond or call (219) 989-2337 or in Schwarz 25, Westville or call (219) 785-5545. Additional information can be found on the Diversity website.

Emergency Preparedness

An information sheet, with instructions for various types of possible emergencies, is posted in each room on campus. These emergencies include criminal activity, severe weather, fire, medical emergencies, and noises sounding like gunshots.  Students are strongly encouraged to review this instruction sheet carefully and acquaint themselves with these important guidelines. PNW will hold annual drills to prepare for emergencies such as severe weather, active shooter and fire. It is strongly encouraged that all students participate in these drills in an effort to strengthen our emergency preparedness efforts.”

COURSE SCHEDULE

WeekDateTopicChapter Reading
18/21 – 8/27Preliminary concepts/Supply & Demand1, 2
28/28 – 9/3Balancing Benefits & Costs3
39/4 – 9/10Consumer Theory – Preferences, Choices, Behavior4, 5
49/11 – 9/17Consumer Demand & Welfare
Exam 1 due by Sunday midnight, Sep 17
6
1-6
59/18 – 9/24Production Theory – Technology & Cost7, 8
69/25 – 10/1Production Theory – Profit Maximization9
710/2 – 10/8Decisions – Involving Time10
810/9 – 10/15Decisions – Involving Risk11
910/16 – 10/22Decisions – Involving Strategy
Exam 2 due by Sunday midnight, Oct 22
12
7-12
1010/23– 10/29Equilibrium & Efficiency14
1110/30 – 11/5Market Interventions15
1211/6 – 11/12
11/10
General Equilibrium Theory
LAST DAY TO DROP CLASSES
16
1311/13 – 11/19Monopoly & Pricing Policies17, 18
1411/20 – 11/26Oligopoly19
1511/27 – 12/3Externalities & Public Goods20
1612/4 – 12/10Asymmetric Information21
1712/11Comprehensive Final Exam Due by Monday midnight, Dec 11