Economics 2304: Microeconomics Principles
Spring, 1999
Professor S. Craig
Course Information:
Office Hours: T,Th 10-11:30 in Room 202A, M
Phone: 743-3812
E-mail: Scraig@uh.edu
Web address: www.uh.edu/~scraig2/
Welcome to economics! This is an applied problem solving course. In particular, we analyze how individuals and firms deal with resource scarcity. In this course, you will (have to!) learn how to think, and you will learn how to apply some very simple quantitative concepts (mainly graphing) to solve problems. You will maximize your output in this course by practicing. Economics sounds very reasonable when you hear it, but economics requires precise thinking in order to explain economics to others (for example, on an exam, but also in a job). The course requirements therefore include frequent problem sets, which will count 10% of your grade. They will be graded solely on your effort, the point is to give you an excuse to practice. You will probably want to exploit the tutor center in 208, M, which is free and available without appointment. The schedule will be distributed shortly. Also note that class attendance is mandatory. While I will not enforce this policy, you are responsible for any material missed, and for all in-class announcements.
There will be two midterms exams, the first is about the last week of February, the second is about the first week of April. I will announce the dates three weeks in advance. The final exam is Saturday, May 8 at 2pm. You cannot miss the final. I must hear from you before any midterm exam that you will miss. If you miss an exam without prior notification, you will receive a zero. The paper topic on Deadly Indifference is to give you a chance to develop a more complex economic argument, based on a fun assignment. You will write 2-3 pages, and attach any graphs you use as an appendix.
The purpose of learning economics is to develop your reasoning skills in both a qualitative and a quantitative context. The writing and mathematical skills you will learn make economics excellent general preparation for business, including graduate school. In addition, the logical aspects of economics make the field an excellent pre-law major.
Prerequisite:
Completion of or concurrent enrollment in Math 1310 or a higher Math. It is the responsibility of the student to ensure that you have the necessary prerequisite.
Course Materials:
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REQUIRED: |
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Text : Roy Ruffin and Paul Gregory, Principles of Microeconomics (soft cover) 6th ed. or Principles of Economics 6th ed. (hardback). |
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Paperback: Marshall Jevons, Deadly Indifference, Princeton University Press, ISBN 0-691-05969-1. |
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RECOMMENDED |
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The Study Guide by Parker & Vahaly is strongly recommended. You might also consider subscribing to an online study guide, called Econweb at www.econweb.com. It is like a study guide with questions, $4.95 for a 6 month subscription. |
Course Requirements:
2 midterms (20% each)
First Midterm: Thursday, March 4
One 2-3 page paper (take home essay) (10%).
Writing Requirement
:There will be a take-home essay question based on the paperback. The assignment will be given February 22-23. The assignment will be due March 30. The essay will be graded on economic content, as well as composition and grammar.
Homework:
Go to homework assignments page
Schedule:
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Week beginning |
TOPIC |
Chapters in Prin. of ECON |
Chapters in Prin. of MICRO |
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Jan 19 |
Introduction & Basic Economics |
1, 2 |
1, 2 |
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Jan 25 |
The Price System and Comparative Advantage |
3 |
3 |
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Feb 1 |
Supply & Demand: Cause and Effect |
4 |
4 |
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Feb 1 |
LAST DAY TO DROP (TUITION REFUND) |
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|
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Feb 8 |
Supply & Demand, Elasticity |
4, 6 |
4, 6 |
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Feb 15 |
Consumer Behavior & Gains from Trade |
7 |
7 |
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Feb 16 |
LAST DAY TO DROP WITHOUT A GRADE |
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|
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Feb 19 |
LAST DAY TO FILE FOR SPRING GRADUATION |
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|
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Feb 22 |
Business Organization*, Cost and Productivity |
8*, 9 |
8*, 9 |
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Mar 1 |
Cost and Productivity |
9 |
9 |
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Mar 8 |
Perfect Competition |
10 |
10 |
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Mar 15 |
SPRING BREAK Mar 15-19 |
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Mar 22 |
Monopoly & Marginal Revenue |
11 |
11 |
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Mar 29 |
Monopolistic Competition & Efficiency |
11, 12 |
11, 12 |
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Apr 2 |
LAST DAY TO DROP OR WITHDRAW |
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Apr 5 |
Oligopoly; Antitrust*; Information* |
13, 14*, 15* |
13, 14*, 15* |
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Apr 12 |
Factor Markets and the Market for Labor |
16, 17 |
16, 17 |
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Apr 19 |
Rent, Interest, and Profit* |
18* |
18* |
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Apr 26 |
Income Distribution and Poverty* |
19* |
19* |
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May 3 |
Market Failure*; Government Behavior* |
20*, 21*, 22* |
20*, 21*, 22* |
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May 3 |
LAST DAY OF CLASSES |
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May 4 |
Reading Day |
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May 8, Saturday |
DEPARTMENTAL FINAL EXAM STUDENTS MUST SHOW THEIR ID CARD FOR ADMISSION TO THE FINAL EXAM. |
3:00 - 6:00 p.m |
202 COM (Communications) |
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Please note final exam time change!!!! |
Chapters marked with an asterix (*) are not included in the Departmental Final Exam. However, individual instructors may include these chapters
in their own supplemental exam.
Free Drop-In Tutorial Services Are Available inside Room 208, McElhinney Building until Tuesday, May 4, 1999.
A Tutoring Schedule will be distributed in class and is available below.
Hours of Operation
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Monday |
1:00 p.m. - 5:00 p.m. |
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Tuesday |
8:00 a.m. - 11:00 a.m. ; 2:00 p.m. - 6:00 p.m. |
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Wednesday |
1:00 p.m. - 5:00 p.m. |
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Thursday |
8:00 a.m. - 11:30 a.m. ; 2:00 p.m. - 6:00 p.m. |
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Friday |
1:00 p.m. - 4:00 p.m. |
Any question regarding the Tutoring Program should be directed to Dr. Wilcox c/o Marion Foley, Room 208 McElhinney , 713-743-3804.