ECON 002 - Principles of Microeconomics
Drake University, Summer 2012
William M. Boal

Course page: www.drake.edu/cbpa/econ/boal/002
Blackboard: bb.drake.edu
Email: william.boal@drake.edu

SYLLABUS

1. Resources | 2. Requirements | 3. Schedule

1. Basic information

Prerequisites: There are no college-level prerequisite courses for Econ 002. However, students are expected to have a basic understanding of graphs, fractions and simple algebra. Note: This course is substantially more advanced than most high school economics courses, and has no relation to courses in "consumer economics" or "home economics."

Meetings: Tuesdays and Thursdays, 6:00-9:50 PM, from May 15 through June 14. Classroom is 102 Meredith Hall.

How to contact instructor:

Instructor's office hours: Office hours are a time when you can ask questions about course material, grades, or anything related to this course or economics in general. No appointment is necessary during office hours--just drop by. Office hours this term are 4:30 pm to 5:30 pm, Tuesday and Thursday. If these hours are inconvenient due to schedule conflicts, please call or send email to make a special appointment.

Course objectives: This course will explore how prices are determined in the economy and why prices matter. In particular we will learn

Detailed learning objectives are posted at the course web page (www.drake.edu/cbpa/econ/boal/002).

Course resources to purchase:

Course resources online:

2. Requirements and grading

Course grade: Each quiz and homework assignment is graded on a scale from zero to 100. Your overall course score is calculated as a weighted average, using the following formula:

SCORE   =    60% x Quizzes   +  30% x Final Exam   +  5% x Homeworks   +  5% x Attendance.

A score of 92 or higher is required for an A, 84 or higher for a B, 76 or higher for a C, and 68 or higher for a D.

Quizzess: A quiz is given at the end of every class meeting (except the first and last). Quizzes are closed-book, closed-notes. Simple calculators are permitted, but graphing calculators, calculators with alphabetical keyboards, wireless devices and mobile phones are NOT permitted. Quiz seating is assigned—-check the projector screen before you sit down for the quiz. The nature of the course material is cumulative, so quizzes may contain material from previous sections of the course. Each student's lowest quiz score will automatically be dropped.

In-class activities: Each class meeting (except the last) features one or more required in-class activities. Students will be graded on participation.

Homework: Homework assignments are due at the beginning of each class meeting (except the first). Question sheets are posted on Blackboard (bb.drake.edu) and the course web page ( www.drake.edu/cbpa/econ/boal/002) in PDF format with clearly marked due dates. Print the question sheets, complete them in pen or pencil, and turn them in at class by the due dates. Late homework is not accepted. If your computer is not working, please use one of the computers in Cowles Library. Computer problems are not an acceptable excuse for late homework.

Final exam: There is a two-hour final exam at the last class meeting. The final exam is closed-book, closed-notes. Simple calculators are permitted, but graphing calculators, calculators with alphabetical keyboards, wireless devices and mobile phones are NOT permitted. Exam seating is assigned, so check the projector screen before you sit down. The final is comprehensive and required: students who do not take the final will not pass the course.

Attendance policy: Attendance is mandatory at all ten class meetings. Because of the tight summer time schedule, no make-up activities, quizzes, or exercises are given in this class. Students who miss an in-class activity, a quiz, or who fail to turn in a homework exercise will avoid a "zero" grade and will have their grade computed from the remaining assignments only if they present documentation for a valid excuse (see below). The deadline for presenting documentation is the day of the final exam.

Valid excuses: If your own medical emergency, or a serious illness or death in your family causes you to miss class, you must inform me of the emergency before class (e.g., by phone) and soon afterward submit a written explanation (including date of absence and documentation). Certain other circumstances are acceptable reasons for missing class. These include religious observance, medical appointment, interview trip, and athletic team trip. Because these circumstances can be predicted, a written explanation (including date of absence) must be submitted before the date of absence.

Other special circumstances: If you need course adaptations or accommodations because of a disability, if you have emergency medical information to share with me, or if you need special arrangements in case the building must be evacuated, please discuss this with me as soon as possible.

How to succeed in this course:

Academic integrity: The CBPA’s Academic Integrity Policy applies to this course. The consequences of violating this policy vary, depending on my evaluation of the severity of the dishonesty. A violation (such as cheating, plagiarism, or fabrication) can result in a grade of zero on the test or assignment, an F for the course grade, or even expulsion from the university. Please read the policy and ask for clarification if necessary.

3. Schedule

Meeting 1: Production and Trade (May 15)

Meeting 2: Supply and Demand (May 17)

Meeting 3: Elasticities (May 22)

Meeting 4: Applications of Supply and Demand (May 24)

Meeting 5: Market Controls and Taxes (May 29)

Meeting 6: Consumer Choices and Demand (May 31)

Meeting 7: Business Decisions and Supply (June 5)

Meeting 8: Long-Run Equilibrium and Economic Efficiency June 7)

Meeting 9: Market Power (June 12)

Meeting 10: Final Examination (June 14)

[end of syllabus]