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Faculty of Social Sciences

Department of Economics

Course Number: ECON 1P91


Term/Year/Duration: WINTER/2016/D3
Course Title: Principles of Microeconomics

Instructor Name: Indra Hardeen


Email: ihardeen@brocku.ca
Office Location: PL 454
Contact: Ext. 5423
Office Hours: W, F, 11am to 1pm
Web: Sakai

Times and Locations: W, F, 2:00pm-3:30pm, DHowes

Course Calendar Description

Introduction to microeconomics. Topics include nature of economics, price system, demand,


production and cost, markets and pricing, factor pricing and distribution of income.

Synopsis

Microeconomics is the study of the mechanisms by which goods and services are produced and
distributed among individuals. In most of the industrialized world, the allocation mechanism used is
the (mostly) free market, in which the actions of buyers and sellers, consumers and producers are
coordinated through prices. Under certain conditions, the market economy can lead to efficient
outcomes, i.e., outcomes in which available resources are fully utilized and allocated to the
production of those goods and services that are most highly valued.

In order to understand the functioning of the market economy, we examine the motivations of
consumers and producers, and how each interacts with the other. Additionally, we will look briefly
at how the market outcomes are affected by external forces; those being governments of various
levels, and foreign buyers and sellers.

Course Objectives

This course has two main objectives. The first is to introduce students to economic terminology and
thought. The second is to provide students with some of the tools needed to understand economic
analysis. At the end of the course, students should understand the basic concepts and models used
in microeconomics, and they should be able to apply these concepts to current economic issues.

Lectures

The easiest way to learn the course material is to attend lectures. Lectures give you the opportunity
to hear explanations, to read the instructors notes, to write your notes and construct diagrams
step-by-step. All of these activities help you understand and remember the course material.
I do not always cover all material in a chapter, and the emphasis the text places on a subject can
differ from what I emphasize in lectures. The only way to know these things is to attend class. All
midterm tests and exams are based on material covered in the lectures.
Finally, lectures are where I provide any necessary information about course matters such as tests
and class changes. You cannot afford to miss these announcements.

NO SMART PHONES! You would need special permission.

Tutorials

Tutorials are mandatory! Tutorials will begin on Monday, January 16th.

Each week, tutorial leaders will go over the tutorial assignment. Copies of the tutorial assignments
for each week are contained in Mrs. Cs Economics with Ease: A Workbook for Microeconomics. The
understanding of the methodology and answers to the assignments are available in class. It is your
responsibility to obtain a copy and to prepare answers to the assignments prior to the tutorial.
Please note that this book will not be repurchased by the bookstore because you are meant to mark
it up.
In addition, (time permitting), tutorial leaders will take up answers to questions from the Study
Guide at the request of students. The Study Guide is a complimentary, self-help tool for students.
Review the multiple choice questions given in this on-line Study Guide. You may also purchase a
hard copy.
Course information is available on Sakai.
Your tutorial grade will be comprised of three quizzes, which will be given randomly at your tutorial
leaders discretion, plus your participation. Finally, all marked midterm tests will be distributed and
the answers to the midterm questions provided in the tutorials. Remember your tutorial number!

Scheduling problems? Please speak with the course instructor.

Sakai

Sakai/Isaak can be accessed from the Brock Homepage (www.brocku.ca) by selecting Web
Services and then Isaak/Sakai. At the login screen you will type in your Badger username (ab00yz)
and password. All students have one Badger ID and password they use to access any computer lab on
campus, Brock Badger Email, the Brock Portal and Sakai. If you have not set up your Badger ID and
password, please fill out a Computer accounts agreement using Student Self Service. If you require
assistance, go to the computer commons, where a lab advisor will be able to help you.

Review

Review your returned midterms. Speak to your instructor about any errors. Do this ASAP. You have a
two week window after the midterm has been returned. Save your midterms in case of an input
discrepancy.

Textbook

Dirk Mateer and Lee Coppock: Principles of Microeconomics; W.W. Norton and Company Inc.; 2014,
looseleaf

Workbook

Marilyn Cottrell, Mrs. Cs Economics with Ease: A Workbook for Microeconomics, Kendall/Hunt,
2014; Revised Edition. Blue revised edition.

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Course Communications

All correspondence should be via the email address, as above. Students will be advised of cancelled
classes due to inclement weather via Sakai and email. Important course information will be posted
on Sakai on a regular basis. This will include the term paper instructions, term paper topics and
course outline. Important announcements will be posted on Sakai.

Relationship between attendance and grades

Students are expected to attend all lectures and tutorials must and write the mid-term and final
exam in order to pass this course. A minimum grade of 35% is required on the final exam in order to
pass the course.

Calculators: You may use a simple non-memory calculator during tests. Acceptable models are
available in the Bookstore. NO high-memory calculators, cell phones, or other electronic devices or
two piece pens are permitted in the class tests or final exam. NO cell phones may be on your
person! Failure to adhere to this policy will result in a grade of zero.

Note: Texting in class = non-attendance. It is impossible to concentrate on both your course and
your personal texts at the same time. Please do not text in class!

If You Have Problems: If you have a problem, or any questions, please do not hesitate to talk with
your instructor or tutorial leader. Everyone teaching this course has office hours. Brock University
will make every reasonable effort to provide an accessible environment and services for all
members of the University community with disabilities. If you are requesting academic
accommodations related to a disability to participate in this course, you are required to contact the
Student Development Centre Services for Students with disAbilities (4 th floor Schmon Tower ext.
3240) and discuss these accommodations with the instructor.

In Summary:

1. Go to lectures. It is easier to learn when you hear explanations, write notes and construct
diagrams step-by-step.
2. Each week, try problems in the Study Guide, as well as some multiple-choice questions.
Then do the assigned tutorials in the Workbook. Doing the problems and multiple-choice
questions helps you to learn, and to find out if you understand the course material.
3. Attend tutorials. Write your three quizzes, solve problems, review difficult material and ask
questions about anything you do not understand.
4. Above all, do not get discouraged! There is plenty of help available, and you can succeed in
Economics with some hard work!

Academic Policies

Academic Integrity:

Academic misconduct is a serious offence. The principle of academic integrity, particularly of doing
ones own work, documenting properly (including use of quotation marks, appropriate paraphrasing
and referencing/citation), collaborating appropriately, and avoiding misrepresentation, is a core
principle in university study. Students should consult Section VII, Academic Misconduct, in the
Academic Regulations and University Polices entry in the Undergraduate Calendar, available at
http://brocku.ca/webcal to view a fuller description of prohibited actions, and the procedures and
penalties.

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Plagiarism software:
This course uses Turnitin.com, phrase-matching software. If a student does not wish to submit
electronically through turnitin.com, the hard copy of the paper must be accompanied by a
photocopy of the title page of each work cited in the paper and of the first page cited in each
source. Students are referred to the Undergraduate Calendar for a definition of academic
misconduct, and for regulations concerning it.

Intellectual Property Notice:

All slides, presentations, handouts, tests, exams, and other course materials created by the
instructor in this course are the intellectual property of the instructor. A student who publicly posts
or sells an instructors work, without the instructors express consent, may be charged with
misconduct under Brocks Academic Integrity Policy and/or Code of Conduct, and may also face
adverse legal consequences for infringement of intellectual property rights.

Academic Accommodation:

As part of Brock University's commitment to a respectful work and learning environment, the
University will make every reasonable effort to accommodate all members of the university
community with disabilities. If you require academic accommodations related to a documented
disability to participate in this course, you are encouraged to contact Services for Students with
Disabilities in the Student Development Centre (4th floor Schmon Tower, ex. 3240). You are also
encouraged to discuss any accommodations with the instructor well in advance of due dates and
scheduled assessments.

Academic Accommodation due to Religious Obligations:

Brock University acknowledges the pluralistic nature of the undergraduate and graduate
communities such that accommodations will be made for students who, by reason of religious
obligation, must miss an examination, test, assignment deadline, laboratory or other compulsory
academic event. Students requesting academic accommodation on the basis of religious obligation
should make a formal, written request to their instructor(s) for alternative dates and/or means of
satisfying requirements.

Medical Exemption Policy:

The University requires that a student be medically examined in Health Services, or by an off-
campus physician prior to an absence due to medical reasons from an exam, lab, test, quiz,
seminar, assignment, etc. The Medical Certificate can be found at: http://www.brocku.ca/health-
services/policies/exemption

Topic Outline:

Jan. 11 and 13; Chapter 1, The Five Foundations of Economics; pg.4-16; 19-21; Chapter 2, Model
Building and Gains from Trade; pg. 26-29; 31-35; 42-49. Read 2A.

Jan. 16; TUTORIALS BEGIN!

Jan. 18 and 20; Chapter 3, The Markets at Work: Demand and Supply; pg. 68-99.

Jan. 25 and 27; Chapter 4, Elasticity; pg. 108-141.

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Feb. 1 and 3; Chapter 5, Price Controls; pg. 146-173.

Feb. 4; FIRST MIDTERM TEST! Covers chapters, 1,2,3 and 4. Midterm must be written in PEN.

Feb.8 and 10; Chapter 6, The Efficiency of Markets and the Cost of Taxation; pg. 176-204.

Feb. 15 and 17; Chapter 8; Business Costs and Production; pg. 240-265.

Feb. 20 to 24; Winter Reading Week.

Mar. 1 and 3; Chapter 9; Firms in a Competitive Market; pg. 270-298.

Mar. 8 and 10; Chapter 10; Understanding Monopoly; pg. 302-327.

Mar. 10; Last day to withdraw from a D3 course without academic penalty.

Mar. 11; SECOND MIDTERM TEST! Covers chapters 5, 6, 8 and 9. Midterm must be written in PEN.

Mar. 15 and 17; Chapter 12, Imperfect Competition and Advertising; pg. 254-363; pg. 366-378.

Mar. 22 and 24; Chapter 13, Oligopoly and Strategic Behaviour; pg. 382-389. 13A, Two Alternative
Theories of Pricing Behaviour; pg. 415-416.

Mar. 29 and 31; Chapter 14, The Demand and Supply of Resources; pg. 420-429; 433-435; 442-
444. Chapter 2, Gains from International Trade; Ch. 1 pg. 17-18; Ch.2, pg. 24, 37-42.

Apr. 5 and 7; Complete course and review.

Apr. 7; Last day of classes.

April 11 to 26; Final Exam period. ALL CHAPTERS covered with emphasis on the work after the
second midterm.

Method of Evaluation:

First Midterm: Saturday, February 4th at 9 to 10 am, (1 hour) , TH 325 and THSOS 20%

Tutorial Participation: 3 quizzes plus participation 15%

Second Midterm: Saturday, March 11th at 9 to 10 am, (1 hour), TH 247 and THSOS 20%

Final Exam: April 11th to 26th (3 hours), TBS 45%