Intermediate Microeconomics
California
State University, Sacramento
Department of Economics
College of Social Sciences and Interdisciplinary Studies
Spring 2004
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In Intermediate Microeconomics
we will analyze household and firm behavior. We will develop our
understanding of supply and demand through examining utility
maximization of individuals, and profit maximization of firms. We will
use new tools that are applied throughout many fields of economics, and
develop an understanding of the foundations of microeconomic theory.
· To gain a firm grasp of economic concepts and to understand how they can apply to your understanding of current events, the decisions firms make, and to your own life.
· To become familiar with models of competitive markets and market failures.
· To gain an appreciation for the value of economic reasoning, but to also recognize the limitations of its application.
You are expected to come to class prepared to participate in class discussions. Completion of required readings prior to class meetings is crucial to your understanding of the material, and necessary for your contribution to the learning environment. Attendance is also essential for success in this course. The material highlighted in lecture will be most important for doing well on exams and problem sets. Out of courtesy for your instructor and your classmates, arrive to class on time. Turn off pagers and cell phones during class.
All students are expected to adhere to the University Student Code of Conduct outlined in the CSUS University Policy Manual. If you have questions regarding plagiarism and the appropriate way to give credit to sources in any work you submit, review the Policy Manual or confer with the instructor.
You must also be aware of current events, preferably through reading the Wall Street Journal, the New York Times (www.nytimes.com), or the Washington Post (www.washingtonpost.com). If you would like to subscribe to the Wall Street Journal at a student rate, contact me by the end of the first week of class.
Your grade for the course will be based on participation (10%), problem sets (20%), two midterms (20% each), and a final exam (30%).
Class Participation (10%): Attendance and participation are crucial for success in this class. I encourage you to participate in class discussion and ask questions if topics are unclear. One of the best ways to solidify your understanding of economic concepts is through trying to explain those concepts to others. You will have this opportunity through class discussion and problem sets. I encourage you to work together on problem sets, but I expect you to turn in original work that is in your own words.
Problem Sets (20%): Problem sets will be given throughout the semester to reinforce your understanding of the material. Problem sets will be administered through Aplia. You will have at least a week to complete each problem set, so you should turn the problem set in early if you think you will have trouble accessing the Internet.
Midterms (20% each): Two midterm exams will be given. You may not use your book or your notes on the midterms.
Final Exam (30%): The final exam will be cumulative. You may not use your book or your notes on the final.
Make-up Exam Policy: Exams must be taken at the scheduled times. A student who misses an exam due to a serious medical or job-related emergency must inform me and provide documentation as soon as possible, no later than the end of the following class meeting.
Reading assignments are from the text Microeconomics, 5th Edition by Robert Pindyck and Daniel Rubinfeld.
| Wednesday, January 28 | Introduction to Markets and Prices |
| Read Chapter 1 & 2 | |
| Wednesday, February 4 | Consumer Behavior, Budget Constraints and Indifference Curves |
| Read Chapter 3 | |
| Wednesday, February 11 | Demand |
| Read Chapter 4 | |
| Wednesday, February 18 | Uncertainty |
| Read Chapter 5 | |
| Wednesday, February 25 | Review |
| Wednesday, March 3 | Midterm 1 |
| Wednesday, March 10 | Production and Costs of Production |
| Read Chapters 6 & 7 | |
| Wednesday, March 17 | Profit Maximization and Supply |
| Read Chapter 8 | |
| Wednesday, March 24 | Competitive Markets |
| Read Chapter 9 | |
| Wednesday, March 31 | Monopoly and Pricing |
| Read Chapter 10, pages 327-351, and Chapter 11 | |
| Wednesday, April 7 | ***SPRING BREAK*** |
| Wednesday, April 14 | Monopolistic Competition, Oligopoly and Game Theory |
| Read Chapters 12 & 13 | |
| Wednesday, April 21 | Midterm 2 |
| Wednesday, April 28 | General Equilibrium and Economic Efficiency |
| Read Chapter 16 | |
| Wednesday, May 5 | Externalities and Public Goods |
| Read Chapter 18 | |
| Wednesday, May 12 | Review |
| Wednesday, May 19 | Final Exam 5:15-7:15 pm. |