Microeconomic Analysis

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Semester: Fall 2004
Course: Economics 315, Microeconomic Analysis
Instructor: Dr. Stonebraker
Office: 401 Thurmond
Office phone: 323-2488
E-mail address: stonebrakerr@winthrop.edu
Office hours: MW 10 - 11 a.m., 1 - 2 p.m., TR 10 a.m. - noon, F 1 - 2 p.m.
                       Other times are available by appointment.

Objectives:

The course builds upon the principles of microeconomic analysis you learned in ECON 215.  Upon completion of this course you should be able to use microeconomic tools to analyze real world issues in almost every field of economics, especially those dealing with consumer choice, firm theory and market structures.  More importantly, you should begin “thinking like an economist” and approach a variety of social and economic phenomena from this perspective.

Text:

Microeconomics and Behavior, 5th edition, by Robert Frank. This excellent text provides the basis for the course.  Although exam questions will be based upon the material covered in class and homework assignments, I expect you to read the appropriate textbook sections as we progress through the material. 

Grades:

Grades will be determined by the following:

 

Naturalist papers:                           10%

Exam with highest score:                 35%

Exam with 2nd highest score:          30%

Exam with lowest score:                 25%

 

The percent score needed to earn a specific grade will depend partly upon the difficulty of the exams.  When each exam is returned I will keep you apprised of the approximate grading scale to expect. If there is ever a question about what grade you are earning at a particular point in time, please ask.

Exams:

Exam questions will stress analysis rather than factual information and will be based on the material presented in class. You will be expected to write short essay/explanation answers and to solve graphical and numerical problems. Students caught copying/cheating will be dealt with harshly.  The final exam will be given at 3 p.m. on Wednesday, December 8 and will include some specified review material.

Homework:

The key to success in any Microeconomic Analysis course is to practice solving problems.  The textbook includes many useful end-of-the-chapter problems that I will assign as homework.  Although I expect you to complete them, they will not be turned in and graded.  The best strategy is to work in small groups on a regular basis to complete the problems and then check the answers that will be provided on the course web page.  You will have opportunities in the next class period to clear up any confusion.

Naturalist papers:

The textbook author tries to teach students to become economic naturalists and apply economic explanations to everyday phenomena.  Following his lead, I am assigning two typed papers (maximum of 750 words each).  The first will be due one week after the first exam and the second will be due one week after the second exam.  Each paper is to use microeconomics to explain in your own words some question raised through your observations of life.  A paper's grade will be based upon both its substance and form. I will pay attention to how well and how creatively you apply economic concepts.  You may not use examples from the text or my readings (or ones we discuss in class).

Make-up policy:

Make-up exams will be given to students with what I judge to be a valid excuse. Needing more time to study is not a valid excuse. If you cannot make an exam I expect to be notified as quickly as possible, preferably before the exam. Students who do not notify me in a timely manner should not expect a make-up exam.

Attendance Policy:

You are expected to attend every class on time and are responsible for all class material whether or not you attend. Attendance will not be graded directly. It is your choice.

Students with Disabilities:

 

Winthrop University is dedicated to providing access to education.  If you have a disability and need classroom accommodations, please contact Gena Smith, Coordinator, Services for Students with Disabilities, at 323-3290, as soon as possible.  Once you have your Professor Notification Form, please tell me so that I am aware of your accommodations well before the first assignment.