COURSE SYLLABUS
Fall 1996
| Instructor | Course Objectives | Method of Evaluation | Tentative Schedule of Topics and Reading Assignments | Return to Homepage |
Course
(ECON 151-510)Introduction to
Microeconomics: Prices and Markets
Location: Jason
Building, Room 155
Instructor
Dr. Richard F. Bieker
e-mail address: rbieker@strauss.udel.edu
Office Hours: Tuesday 6:00 p.m-7:00
p.m., Room 155, Jason Building or by appointment.
Required Text
Campbell R. McConnell and Stanley L. Brue, Economics: Principles, Problems and Policies, McGraw Hill, 13th edition.
Course Description
Introduces supply and demand concepts with basic economic graphs.
Examines models of perfect and imperfect competition and the
determination of product price and quantities. Covers current
microeconomic issues such as the effect of government regulation
and environmental problems.
COREQ: MATH 114 or 115.
Credit: Three hours
Course Objectives
After successfully completing this course, the student will:
- Have an understanding of the methodology employed in the
economic and social science disciplines.
- Have an understanding of the nature of scarcity and its
implications for decision-making.
- Have an understanding of how a market-based economy operates.
- Have an understanding of the nature and role of various
institutions in a modern mixed economic system.
- Have an understanding of the theory of consumer demand.
- Have an understanding of the role and functions of government
in a modern mixed economy.
- Have an understanding of production and cost theory.
- Have an understanding of the pricing and production behavior
of business firms operating in different market structures.
- Have an understanding of the theory of resource markets.
Specific instructional objectives will be outlined at the
beginning of each class session.
Prerequisites
MATH 114 or 115 or equivalent.
Method of Instruction
The method of instruction will be lecture with class discussion.
Method of Evaluation
Student performance will be evaluated on the basis of the
following:
- Written Examinations(80%)
Performance
on written examinations will constitute 80 percent of the
student's final grade. A minimum of four written examinations
will be given. Examination dates will be announced at least one
class period in advance. It is the student's responsibility to
be present when examinations are scheduled. If the student
fails to take a written examination, (s)he will receive a grade
of zero (0) for that examination. Makeup examinations will
not be given except in the case of serious illness or some other
dire emergency.
- Class Participation(05%)
One dimension of the learning process involves teacher-student
and student-student interaction in the classroom for purposes
of elaboration and clarification. Class participation by students
is strongly encouraged and expected. Student performance in
class will constitute 5 percent of the student's final grade.
- Written Homework Assignments (15%)
Throughout the
semester
students will be required to complete a number of written
homework assignments. These assignments will consist of questions
and problems based on assigned readings in the text as well as
assigned readings on current economic issues. Students are to
compile the completed assignments in a notebook. The notebook
will be taken up periodically throughout the semester and portions
of the notebook will be graded. In addition, the notebook will
be turned in at the time of the final examination and graded. If the student fails to complete
the written homework assignment by the time prescribed, (s)he
will receive a grade of zero (0) for that portion of the assignment.
Under no circumstances will a student receive credit for a written
assignment if it is not completed by the prescribed completion
date. Student performance on the notebook will constitute fifteen
(15%) percent of the student's final grade.
Performance on written examinations will constitute 80 percent of the student's final grade. A minimum of four written examinations will be given. Examination dates will be announced at least one class period in advance. It is the student's responsibility to be present when examinations are scheduled. If the student fails to take a written examination, (s)he will receive a grade of zero (0) for that examination. Makeup examinations will not be given except in the case of serious illness or some other dire emergency.
One dimension of the learning process involves teacher-student and student-student interaction in the classroom for purposes of elaboration and clarification. Class participation by students is strongly encouraged and expected. Student performance in class will constitute 5 percent of the student's final grade.
Throughout the semester students will be required to complete a number of written homework assignments. These assignments will consist of questions and problems based on assigned readings in the text as well as assigned readings on current economic issues. Students are to compile the completed assignments in a notebook. The notebook will be taken up periodically throughout the semester and portions of the notebook will be graded. In addition, the notebook will be turned in at the time of the final examination and graded. If the student fails to complete the written homework assignment by the time prescribed, (s)he will receive a grade of zero (0) for that portion of the assignment. Under no circumstances will a student receive credit for a written assignment if it is not completed by the prescribed completion date. Student performance on the notebook will constitute fifteen (15%) percent of the student's final grade.
Class Attendance
All students are expected to attend punctually every scheduled meeting of each class except in the case of serious illness or some other dire emergency. Absence from class for any reason does not excuse the student from responsibility for any assigned work.
Tentative Schedule of Topics and Reading Assignments
Session: 1
Date: September 10
Topic: The Methodology of Economics
Reading Assignment: McConnell & Brue, Ch.1.
Sessions: 2-3
Dates: September 17, 24
Topic: Scarcity and its Implications
Reading Assignment: McConnell &; Brue, Ch. 2
Session: 4
Date: October 1
Topic: Characteristics and Operation of a Market Economy
Reading Assignment: McConnell & Brue: Chs. 4-5.
Sessions: 5-6
Dates: October 8, 15
Topic: Test #1, Supply and Demand Analysis, Role of Government in a Market Economy
Reading Assignment: McConnell & Brue: Chs. 3,5,6.
Session:7
Date: October 22
Topic: Test #2, Elasticity Concepts
Reading Assignment: McConnell & Brue: Ch. 20
Sessions:8-9
Dates: October 29, November 5
Topic: Production and Cost Concepts, Test #3
Reading Assignment: McConnell & Brue: Ch. 22
Sessions: 10-11
Dates: November 12, 19
Topic: Price and Output Under Conditions
of Pure Competition
Reading Assignment: McConnell & Brue: Ch. 23
Sessions: 12-13
Dates: November 26, December 3
Topic Price and Output Under Conditions of Monopoly
Reading Assignment: McConnell & Brue: Ch. 24
Session: 14
Date: December 10
Introduction to Resource Markets, Test #4
Reading Assignment: McConnell & Brue: Ch. 27.
Session: 15
Date: December 17
Topic: COMPREHENSIVE FINAL EXAMINATION
University of Delawa
re Home Page
Please direct questions to rbieker@udel.edu
URL of this document: http://www.udel.edu/rbieker/udmicro.htm
Last modified: July 25, 1996
Copyright
University of De
laware, 1995.