Fall 2014 EC120 - Introduction to Microeconomics Course Syllabus
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EC120 - Introduction to Microeconomics - Fall 2014
Course Description
This course introduces students to the analysis of a market economy, with a focus on the strengths and weaknesses of the price system, and the role for government intervention in the economy. Students will be introduced to economic analysis relevant to the analysis of a wide variety of questions in business strategy and public policy conducted at the international, national or sub-national level. Specific examples addressed during the term will include environmental policy, domestic tax policy, labour standards, international trade and health policy.
Instructor and Student Support
EC120 is a coordinated course, with 4 instructors teaching a total of 7 sections in the fall term. Students enrolled in all sections will be assessed identically, with common quizzes, tests and exams, and instructors will cover the same content through the term. The specific content and examples covered in lectures and the clicker questions used will vary across sections.
Section Day and Time Room Instructor E-mail Phone A T/Th 8:30am Arts 1E1 Ken Jackson kjackson@wlu.ca x.2316 B M/W 2:30pm P1025/1027 Peter Sinclair psinclair@wlu.ca x.2567 C T/Th 11:30am Arts 1E1 Peter Sinclair psinclair@wlu.ca x.2567 D T/Th 10:00am Arts 1E1 Logan McLeod lmcleod@wlu.ca x.4556 E M/W 11:30am Arts 1E1 Ken Jackson kjackson@wlu.ca x.2316 F M 7:00pm Arts 1E1 Houman Mortazavi hmortazavi@wlu.ca G T 7:00pm Arts 1E1 Houman Mortazavi hmortazavi@wlu.ca
Course Website
x Announcements, lecture slides, and grading will all be posted to My Learning Space, http://mylearningspace.wlu.ca.
x You are expected to regularly log-in to My Learning Space to access course material, complete quizzes, and check for announcements and course related e-mail.
x If you need assistance with My Learning Space, please contact myls@wlu.ca.
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Additional Support
As we will discuss through the term, specialization according to comparative advantage can significantly increase efficiency. With that in mind, there is a wide range of resources to assist you with specific issues throughout the term.
Undergraduate Program Director (Economics): Ken Jackson
x Office: Peters Building, P3080 x Please see Dr. Jackson with questions regarding the economics program, including
progression and admission requirements in Economics, or more general inquiries.
Administrative Assistance: Helen Kaluzny
x Office: Peters Building, P3082 (Economics department office) x Please see Ms. Kaluzny for administrative issues, including to submit documentation if
you miss a test or if you have grading inquiries on the midterm tests or final exam.
Teaching Assistants: TBA
x Office: Peters Building, P3117A (Across from the Economics department office) x The teaching assistants will provide individual instruction on specific questions in the
course material. x TA's hold office hours throughout the term to answer student questions regarding
course material. The TA's are busy leading up to exams, so you are encouraged to see them early. The office hours schedule will be posted the first week of classes.
Accessible Learning
x Students with disabilities or other special needs are advised to contact Laurier's Accessible Learning Centre for information regarding its services and resources. Students are encouraged to review the Calendar for information regarding all services available on campus.
Fall 2014 EC120 - Introduction to Microeconomics Course Syllabus
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Course Textbook and Assessment
Required Textbook
The required textbook for the course is Principles of Microeconomics, 6th Canadian Edition (2014), by Mankiw, Kneebone and McKenzie. The textbook may be purchased through the WLU bookstore bundled with APLIA. Alternatively, students may purchase the textbook with APLIA through the publisher at: http://www.nelsonbrain.com/shop/micro/wlu/ec120.
Assessment Schedule Grading
Pre-lecture quizzes Due weekly by Monday, 8 am Best 15, 5%
In-class clickers Completed in lectures Best 15, 5%
Post-lecture quizzes Due weekly by Friday, 8am Best 10, 5%
Midterm Test 1 Friday, October 3rd, 8 pm 15%
Midterm Test 2 Friday, November 7th, 8 pm 25%
Final Exam December 45%
Pre-Lecture Quizzes
Starting Monday, September 15th, short multiple choice quizzes will be due on My Learning Space for the chapters scheduled for the upcoming week. (Chapters 1-4 will be on the quiz due September 15th. These quizzes will cover the basic concepts in the chapters scheduled for the upcoming week (see the schedule below), and are intended to help you prepare for the lectures. Read the textbook chapter, and then complete the quiz. Please note that the quiz questions are preparatory and are therefore not representative of the difficulty of questions on the midterm tests or final exam. As there are 20 chapters, there are 20 quizzes. Your best 15 quizzes will count for 5% of your course grade. Students whose grade is higher on the final exam will not have their pre-lecture quizzes count.
"Clicker" questions during lectures
Starting on September 15th, we will make use of "clickers" - an electronic response system that allows you to register an answer to questions asked in class. Your best 15 lecture sessions will count for 5% of the course grade. Students whose grade is higher on the final exam will not have their clicker grades count. Clickers may be purchased through the bookstore.
Fall 2014 EC120 - Introduction to Microeconomics Course Syllabus
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Clicker Registration
You are responsible for purchasing your clicker from the Laurier Bookstore. You are required to register your clicker online via MyLearningSpace (https://mylearningspace.wlu.ca). When you login you will see a course called "Clicker Registration for Fall 2014". To register your clicker, follow these steps:
1. Enter the "Clicker Registration for Fall 2013" course by clicking on the title 2. From the homepage, click on the "Click here to register your clicker" link 3. Enter your clicker serial Remote ID in the box provided. 4. Click on the `Register`button.
Please note: Failure to register your clicker in this way may result in loss of clicker marks. You MUST complete the quiz to have your clicker marks assigned to you. If you registered your clicker in previous years, you MUST register it again for this term.
Please direct any questions about this process or about clickers in general to clickers@wlu.ca.
A clicker troubleshooting station is available at the help desk in the concourse.
Aplia Online Study Guide - Optional
Throughout the term, optional homework assignments will be available through the Aplia system. The first assignment is due on September 19th. Access to the Aplia online study guide comes free with the purchase of the textbook, or it may be purchased separately at: http://www.nelsonbrain.com/shop/micro/wlu/ec120
Aplia Registration
1. Go to http://www.nelsonbrain.com 2. The course key is E5QG-DEB3-U9Y9. (The instructor listed for all sections will be
Peter Sinclair.) 3. Click "Create a New Account" or sign in if you already have one. 4. You will be asked for the information in the Aplia access kit you have purchased. 5. You must enter your correct ID number if we are to retrieve your grades.
Students with UW ID numbers must add a zero to the end of their id number since only 9-digit codes are accepted. Also enter your legal name as it is listed in University documents.
Starting Friday, September 19th, there will be at least one quiz each week through the term. Your best 10 quiz scores count for 5% of your grade. Students whose grade is higher on the final exam will not have their Aplia grades count. Each quiz must be completed by 9am on the Friday morning of the week listed on the syllabus.
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Mid-term Tests
There are two midterm tests, on Friday, October 3rd at 8 pm that counts for 15% of your mark and Friday, November 7th at 8 pm that counts for 25% of your mark. Students that miss either exam with an acceptable, documented reason will have the test grade replaced with the final exam grade.
Final Exam
The final exam is scheduled by the registrar during the final exam period in December. It is worth 45% of your course grade, and up to 60% depending on how you did on the pre-lecture quizzes, clicker questions and post-lecture APLIA quizzes. The midterm tests and the final exam will consist of multiple choice questions. The clicker questions in class and the Aplia study guide are designed to help you practice answering the types of questions that you will see on the tests and exam.
Course Policies and Procedures
Missing Clickers and Late Assignments
Due to the timely nature of the quizzes and clickers, late assignments will not be accepted for any reason. Each student is responsible for ensuring that their clicker is registered, and that their participation is being recorded to the grading system, and that they have access to the quizzes as necessary.
Missed Tests
Students that miss a midterm test due to illness, religious commitment, family emergency or approved alternative commitment must contact provide Helen Kaluzny (P3082) with appropriate written documentation.
Students that will miss a midterm test due to their participation in varsity sports must contact their coach, who will arrange proctoring of the test. Varsity athletes at the University of Waterloo should have their coach contact Helen Kaluzny in the Economics Office at WLU.
Deferred Final Examinations
Students who miss the final exam with an acceptable excuse may apply to write a deferred exam. Applications, accompanied with supporting written documentation, should be made to
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Ms. Lee Leeman, in the SBE Petitions Office (SBE 1256). If you miss the exam due to illness, you will need medical documentation on the date of the exam, or as close to that date as possible.
Students are strongly urged not to make any commitment (ie. vacation) during the examination period. Students are required to be available for examinations during the examination periods of all terms in which they register.
Academic Misconduct
You are reminded that the University will levy sanctions on students who are found to have committed, or have attempted to commit, acts of academic or research misconduct. You are expected to know what constitutes an academic offense, to avoid committing such offenses, and to take responsibility for your academic actions. For information on categories of offenses and types of penalty, please consult the relevant section of the Undergraduate Academic Calendar. If you need clarification of aspects of University policy on Academic and Research Misconduct, please consult your instructor.
Wilfrid Laurier University uses software that can check for plagiarism. Students may be required to submit their written work in electronic form and have it checked for plagiarism.
Policy on Technology Use
Each instructor will define their own policy on technology use in accordance with university regulations. Students are expected to comply with the instructor's policy, and students who fail to do so may be asked to leave the classroom.
Additional Information
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Detailed Course Schedule
There are three sections of the course, with either a midterm test or a final exam at the conclusion of each section. The material is cumulative, with understanding in each section critical to the ability to successfully navigate the following sections.
Part A - Introduction to Economic Analysis
Student Learning Outcomes for this Section
1. Identify the difference between positive and normative questions, and recognize the role of economic analysis in each case.
2. Recognize the importance of opportunity cost and the gains from trade in determining economically efficient outcomes.
3. Use graphical and mathematical analysis to identify how changes in supply and demand affect prices in a market economy.
4. Calculate elasticity of demand or supply, and apply this calculation in assessing the consequences of government policy.
Week Topic
Textbook Chapters Aplia Assignment
September 4th to September 11th
Intro., Opportunity Cost, Gains from Trade Ch. 1, 2, 3 Intro to Aplia
September 15th to September 18th Supply and Demand
Ch. 4 including appendix Ch. 1,2,3
September 22rd to September 25th Elasticity Ch. 5 Ch. 4
September 29th to October 2th
Government Policy Review
Ch. 6 including appendix Ch. 5, 6
Friday October 3rd Midterm Test 1 Chapters 1-6
Part B - The Analysis of Competitive Markets
Student Learning Outcomes for this Section
5. Measure consumer and producer surplus to assess the effects of tax policy and international trade on aggregate social welfare.
6. Identify the difference between short and long run costs of production, and their effects on firms' production choices.
7. Identify the link between perfectly competitive markets and economic efficiency.
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Week Topic Textbook Chapters Aplia Assignment
October 6th - October 9th
Consumers, Producers, Markets Costs of Taxation
Ch. 7, 8, including appendices Ch. 7
October 13 - 17 Reading Week - no classes October 20th - October 23rd
International Trade The Costs of Production
Ch. 9 Ch. 13 Ch. 8,9
October 27th - October 30th
The Costs of Production Perfect Competition
Ch. 13 Ch. 14 Ch. 13
November 3rd - November 6
Perfect Competition Review
Ch. 14 Ch. 14
Friday, November 7th Midterm Test 2
Chapters 1-9, 13, 14
The second midterm is cumulative, with questions covering material from the start of the course. Part C - Market Failure and The Role for Government
Student Learning Outcomes for this Section
8. Distinguish between the economic outcomes associated with perfect competition, monopolistic competition, oligopoly and monopoly.
9. Recognize the role for government in managing the provision of public goods. 10. Identify how a market economy affects discrimination, inequality and poverty, and the
role of government in promoting positive social outcomes.
Week Topic Textbook Chapters Aplia Assignment
November 10th - November 13th
Monopoly Monopolistic Competition
Ch. 15 Ch. 16 Ch. 15
November 17th - November 20th
Oligopoly Externalities, Public Goods
Ch. 17 Ch. 10, 11 Ch. 16, 17
November 24th - November 27th
Factor Markets, Earnings and Discrimination,
Ch. 18 Ch. 19 Ch. 10, 11
December 1st - December 3rd
Income Inequality and Poverty Review Ch. 20 Ch. 18, 19, 20
Final Exam Period December 11th to
21st Final Exam Chapters 1-20
Students should note that the final exam is cumulative, and will cover material from the entire course.