Professor John Hall Fall Term 2013 Principles of Microeconomics ...

Professor John Hall Fall Term 2013 Principles of Microeconomics, EC201 -003 11062 Office Hours Tue. Thu. 2-3 p.m. Office CH241-P telephone 503.725.3939 and, 6:40-730 p.m. e-mail: [email protected] This introductory course has the goal of making you as the student fully conversant in the language of microeconomics. To achieve this goal, great emphasis shall be placed on the rhetoric of microeconomics, which comes to us out of the History of Economic Thought, and largely as terms with clear definitions. Along with these terms and definitions we shall consider key concepts in this field of inquiry, that also serve as building blocks upon which a sizeable portion of mainstream Economic Science is built. The course will take place in two major parts. Part I leads up to “Learning Opportunity #1,” Part II leads up to “Learning Opportunity #2,” which is our comprehensive final exam. Learning Opportunities #1 and #2 will each be composed of 50 questions. And, so, each answer will then be worth one point toward your final grade. In addition, I shall offer two optional writing assignments. If you carry out these assignments on time and as instructed, each would count up to three points toward your final grade. So, if you are a diligent and earnest student, you could earn up to 106 points for this course. Students are required to attend all lectures. If, by chance, any lectures are missed, you -- as the student -- are responsible for catching up on your own. Text: Case, Fair, and Oster. Principles of Microeconomics,. Upper Saddle River, New Jersey: Prentice Hall, a recent edition. Editions will vary slightly. In addition, there will be a set of readings that introduce key persons who have contributed to Economic Thought. These can be found at Sites.google.com/site/econreadings45/ In particular, please become familiar with the biographies and contributions that Mark Blaug has composed for: Alfred Marshall, Joseph Schumpeter, Vilfredo Pareto, Carl Menger, W. Stanley Jevons, and Leon Walras, as these contributors laid much of the foundation for our text book. Week 1 (1-3 Oct.) Chapter 1 “The Scope and Method of Economics:” Chapter 2 “The Economic Problem: Scarcity and Choice.” Week 2 (8-10 Oct.) Chapter 3 “Demand, Supply, and Market Equilibrium;” Chapter 4 “Demand Supply Applications.” Week 3 (15-17 Oct.) Chapter 5 “Elasticity;” Chapter 6 “Household Behavior and Consumer Choice.” Week 4 (22-24 Oct.) Chapter 7 “The Production Process;” Chapter 8 “Short-Run Costs and Output Decisions.” Chapter 9 “Long-Run Costs and Output Decisions.”

Week 5 (29-31 Oct.) Chapter 10 “Input Demand: Labor and Land Markets;” Week 6 (5-7 Nov.) Chapter 11 “Input Demand: The Capital Market and the Investment Decision;” Chapter 12 “General Equilibrium and the Efficiency of Perfect Competition.” Week 7 (12-14 Nov.) Chapter 13 “Monopoly and Antitrust Policy;” Chapter 14 “Oligopoly;” Chapter 15 “Monopolistic Competition.” Week 8 (19-21 Nov.) Chapter 16 “Externalities, Public Goods, and Social Choice;” Chapter 17 “Uncertainty and Asymmetric Information.” Week 9 (26 Nov.) Chapter 18 “Income Distribution and Poverty;” Chapter 19 “Public Finance: The Economics of Taxation” Week 10 (03-05 Dec.) Nov. – 01 Dec) Chapter 20 “International Trade, Comparative Advantage, and Protectionism;” Chapter 21 “Economic Growth in Developing and Transitional Economies. Our Final Exam is destined to take place during exam week as scheduled by PSU Inclement weather can cause this date and time to change. Please be aware. House Rules: Please do not consume food of any form in our classroom. If a student disturbs me by breaking my concentration the student could be asked to leave the course for that day. Affirmative Action Portland State University supports equal opportunity for all, regardless of age, color, disability, marital status, national origin, race, religion or creed, sex or gender, sexual or gender identity, sexual orientation, veteran status, or any other basis in law. Disability Resources at PSU Students with accommodations approved through the Disability Resource Center are responsible for contacting the faculty member prior to, or during, the first week of term to discuss accommodations. Students who believe they are eligible for accommodations but who have not yet obtained approval should contact the DRC immediately. Academic Honesty Academic honesty is expected and required of students enrolled in this course. Suspected academic dishonesty in this course will be handled according to the procedures set out in the Student Code of Conduct.