and composition of spending, instability of employment and income levels, ...
Principles of Microeconomics: Fifth Canadian Edition by Gregory Mankiw, Ronald
...
Carleton University
Department of Economics T. Joseph Office: Office Hours: Email: Phone:
ECON 1000D An Introduction to Economics
Loeb B840 Tuesdays, 5:00 - 6:00pm
[email protected] 520-2600 ext. 3769
2013-14 Fall-Winter
Course Description The study of economics begins by noting that human wants (all the goods, services, and conditions of life that people desire) seem greater than the resources available to satisfy them. Economics explores how our limited resources are allocated among alternative uses to satisfy diverse human wants. Many current issues have their roots in the problem of using scarce resources efficiently. Topical issues in economics include the government's choice of the level and composition of spending, instability of employment and income levels, inequality in the distribution of income and damaging effects of human activities on the environment. This course provides an introduction to economics. We will develop principles useful for analyzing problems with economic dimensions. We first develop a framework in which we can assess societal welfare and then focus on issues such as efficient versus inefficient resource use, how the economy would perform if left to private incentives, and how public policy can help achieve desirable outcomes. Required Textbooks: Principles of Microeconomics: Fifth Canadian Edition by Gregory Mankiw, Ronald Kneebone and Kenneth McKenzie, Nelson Education/Thomson Canada, 2011 (ISBN-10: 0-17-650241-6; ISBN-13: 978-0-17-650241-6). Principles of Macroeconomics: Fifth Canadian Edition by Gregory Mankiw, Ronald Kneebone and Kenneth McKenzie, Nelson Education/Thomson Canada, 2011 (ISBN-10: 0-17-650242-4; ISBN-13: 978-0-17-650242-3).
This text was selected since it offers a comprehensive learning package, it’s well-organized, upto-date, and covers current and interesting issues in economic analysis with a focus on topics of Canadian interest. Online Resources: This course will employ the learning tools developed by Aplia to complement our course textbook. This will consist primarily of practice problems, online assignments and practice tests. Students will need to set up an account at the following web location to use the online resources: http://www.aplia.com Course Key: D9H4-G9HB-XUPJ Textbooks, study guides and Aplia access cards can be purchased at the University Bookstore. Electronic access can also be purchased online (details to follow from the publishes of the textbook/online learning resources).
2 Microeconomics: Course Material by Week Date Week #1
Sept 10
Week #2
Sept 17
Week #3
Sept 24
Week #4
Oct 1
Week #5
Oct 8
Week #6
Oct 15
Week #7
Oct 22
Week #8
Nov 5
Week #9
Week #10
Nov 12
Nov 19
Week #11
Nov 26
Week #12
Dec 3
Topics
Chapters
An Overview of Economics Ten Principles of Economics 1 * Online Warm-up Assignment (does not count toward course grade) Fundamental Economic Tools Graphing: A Brief Review 2 (Appendix) Thinking Like an Economist 2 The Market Forces of Supply and Demand 4 * Online Assignment #1 (Ch 2, Appendix) due Sept 23 How Markets Work Elasticity and Its Application 5 Supply, Demand, and Government Policies 6 * Online Assignment #2 (Ch 2 & 4) due Sept 30 Government Market Policy Consumers, Producers and the Efficiency of Markets 7 * Online Assignment #3 (Ch 5 & 6) due Oct 7 Gains from Trade Interdependence and the Gains from Trade Application: International Trade * Online Assignment #4 (Ch 7) due Oct 14 Market Failures Externalities Public Goods and Common Resources * Online Assignment #5 (Ch 3 & 9) due Oct 21
3 9
10 11
OCTOBER EXAMINATION Covers Weeks 1-5 / Chapters 1-7, 9 Taxation Application: The Costs of Taxation The Design of the Tax System * Online Assignment #6 (Ch 10 & 11) due Nov 4 Firm Behaviour The Costs of Production Firms in Competitive Markets * Online Assignment #7 (Ch 8 & 12) due Nov 11 Market Structures Monopoly Oligopoly * Online Assignment #8 (Ch 13 & 14) due Nov 18 Monopolistic Competition The Markets for the Factors of Production * Online Assignment #9 (Ch 15 & 16) due Nov 25 Further Topics Frontiers of Microeconomics * Online Assignment #10 (Ch 17 & 18) due Dec 2
December Exam: To be scheduled between Dec 11 to Dec 22
8 12
13 14
15 16 17 18
22
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Evaluation The Microeconomic and Macroeconomic sections of the course will each account for 50% of the final grade. Details regarding the evaluation structure of the Macroeconomic portion will be provided in the course outline presented in January. The course grade for the first half of the course will be based on 2 tests and 10 online assignments. The time and location of the second test will be determined by Scheduling and Examination Services.
Course Grade Assignments Oct Test Dec Test Total
Weight 10% (1% each) 15% 25% 50%
Tutorials Weekly tutorial sessions will cover practice questions and exercises to supplement the material covered in the main classes. Teaching Assistants will work through exercises from upcoming assignments and to prepare for upcoming tests. Class sizes for tutorials are smaller than the main classes and the atmosphere is more informal. Students are invited to ask questions and explore the logic behind economic models and the material covered during tutorials.
Additional Teaching Assistance Teaching Assistants are available throughout the term to assist students in understanding the course material. The schedule of T.A. Office Hours will be posted on the course website toward the middle of September. Students are invited to consult the Teaching Assistants to help understand economic concepts covered in the course, or to assist with Assignment or test preparation. Additional one-on-one help with Teaching Assistants can be obtained outside scheduled Office Hours by contacting the Instructor.
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Online Resources Assignments Ten assignments are to be completed online via the course web site. Assignment 1 2 3 4 5 6 7 8 9 10
Chapter 2, Appendix 2, 4 5,6 7 3, 9 10, 11 8,12 13,14 15,16 17,18
Due Date Sep 17 Sep 23 Sep 30 Oct 7 Oct 14 Nov 4 Nov 11 Nov 18 Nov 25 Dec 2
Each Assignment will be given a weight of 1% for the overall course grade. For each Assignment, a Practice Exercise will be available containing questions analogous to the corresponding Assignment.
Missed-class Backup Slideshows Slideshow presentations will provide summary notes corresponding to the material covered in each class of the Fall term.
In-class Notes Notes will be posted on the Aplia website before each class to facilitate the task of note-taking. These slideshows will include interactive elements, including components to be completed in class. Class members take their own responsibility for non-attendance of classes. Students are welcome to make-up for material missed in class using the missed-class backup slideshows or the course text. All requests for in-class notes presented during scheduled class time will be declined.
Practice Tests A series of daily Practice Tests (10 multiple choice questions) will be available each day from Oct 12 to Oct 22 to assist with preparation with the Oct 22 test. Availability will not be extended. A similar series of Practice Tests will be available for the December examination corresponding to the material to be covered on the test. It will be most useful to attempt these tests after becoming familiar with the corresponding textbook material.
Discussion Board Class members are invited to use the course Discussion Board to communicate questions, ideas and observations about the course that may be of interest to other class members. Students should use judgement and practice good netiquette in posting to this Internet forum. Questions of exclusive interest to the student posting the message would be better handled by emailing the Instructor. The following types of messages will be deleted: communications to facilitate piracy; requests for assignment answers; and requests for class notes.
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Administrative Details All courses offered by the Faculty of Public Affairs and Management are governed by the rules provided in the 2013-2014 Undergraduate Calendar (http://carleton.ca/cuuc). Tests Tests will be handed back at the end of classes. Requests for tests at the start of a class will be denied. Course tests are ‘closed book’. Reference material is not permitted. While tests are being written, students may not communicate with anyone except the Instructor, Teaching Assistants or Proctors. Students who miss the October or December examination will be allowed to write a make-up examination only if there is a documented compelling reason, and they inform the Instructor at the earliest possible instant, with usual benchmark being within 24 hours of the test. Medical certificates must be issued by Carleton University’s Health and Counselling Services (http://www1.carleton.ca/health/doctors-notes/) and students must visit during the time they are experiencing symptoms. The format of the October make-up examination may differ from the inclass test and may contain additional material covered since the midterm exam. Study Skills Incentive Program This course is registered in the Study Skills Incentive Program offered through Learning Support Services (LSS). Students who receive a grade on the October 22 test below 70% are invited to increase their test scores by earning bonus marks equal to 20% of the shortfall between their grade on the test and 70%, with 1 percentage point added per workshop attended. For instance, a student with a grade of 55% on the midterm could increase his or her grade by up to 3% (calculated as 70% – 55% = 15%, then multiplied by 20%). Workshops are offered frequently and at various times to accommodate student’s schedules. Study Skills workshops must be completed before the last day of classes. The goal of attending study skills workshops in LSS is to develop and refine your academic skill set. There are 15 different workshops to choose from. All workshops are held in room 402 in the MacOdrum Library. To see the complete workshop schedule and to pre-register (although not mandatory) please login to Carleton Central, and click on the SASC Learning Support Services – workshops link under the “mySuccess” tab. Please note that it is the student’s responsibility to sign in for workshops to obtain credit for participating. Email Email communications concerning confidential matters such as grades must come from the student’s Carleton University email address. Qualification Requirements for Higher-level Courses A grade of C- or higher is required in ECON 1000 to qualify for ECON/MATH 1402, ECON 2020, ECON 2102, ECON 2400, and ECON 3706.
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Preclusions ECON 1000 precludes additional credit for ECON 1001, ECON 1002, and FYSM 1003. DEF(erred final grade) status at the end of this course precludes (continued) registration in any other course for which the former is a prerequisite. Academic Accommodations For Religious Obligations: To be worked out on individual basis with the instructor. Consult the Equity Services Website or an Equity Advisor (ext. 5622) for Policy and list of Holy Days (www.carleton.ca/equity). For Pregnancy: Contact Equity Services (ext. 5622) to obtain letters of accommodations. Students with Disabilities Students with disabilities needing academic accommodations are required to contact a coordinator at the Paul Menton Centre to complete letters of accommodation. The student must then make an appointment to discuss his or her needs with the instructor at least two weeks prior to the first class test to ensure sufficient time is available to make the necessary accommodation arrangements. The deadline for submitting completed forms to the PMC for formally scheduled exam accommodations is November 8. Final Grades Students must fulfill all course requirements in order to achieve a passing grade (D- or higher). Failure to write one or both tests (without a documented compelling reason) will result in a grade of FND (“Failure with No Deferred final examination allowed”). Failure to write the final examination in April when the student has achieved satisfactory performance during the term will result in a grade of ABS (“ABSent from a required final examination”). Application to write a deferred final examination must be made at the Registrar’s Office. See Academic Regulation 2.3 for the official meanings of these grades, and note that it stipulates that no course grades are final until approved by the Faculty Dean. Note also that grades may be scaled upward or downward in a rank preserving manner in order to better fit the Economics Department’s relevant distributional norm.
