ECONOMICS 311
PRINCIPLES OF MICROECONOMICS
FALL 1996

Jorge G. Gonzalez
Office: CGC N422
Phone: 736 - 7224
E-Mail: Jgonzal1@trinity.edu
Web: www.trinity.edu/jgonzal1

Office Hrs:

Tuesday 3:35 - 4:35
Wednesday 10:00 - 12:00
1:30 - 3:30
Thursday 3:35 - 4:35
And by appointment

These office hours are designed to help you throughout the whole term. Please do not wait until the end of the term to use them.

The purpose of this class is to give you a framework that can be used to study the behavior of economic agents. Economic agents (i.e. consumers, business firms, government agencies, etc.) compete with each other for scarce resources in their search to maximize their well being. Microeconomics studies the process by which these resources are exchanged and transformed.

TEXT:

Required: Ekelund, R.B. and R.D. Tollison, Economics, Fourth Edition, 1994.

Recommended: Watson, J.K., Study Guide to Accompany Ekelund-Tollison Economics, Fourth Edition, 1994.

Recommended: Wall Street Journal.

COURSE REQUIREMENTS:

Exam 1 (Thursday, October 3) = 200 points
Exam 2 (Thursday, November 14) = 200 points
Take-home Assignments = 200 points
Class Participation = 50 points
Final Exam (Saturday, December 14, 6:30 p.m.) = 350 points

The take-home assignments will consist of problems sets that will be graded and several class assignments in the form of readings or problems to be done at home but that will not be handed in.

Students are allowed and encouraged to do their problem sets in groups of 3 to 4 members. Students that decide to work in groups will only hand in one problem set per group and all group members will receive the same grade for the assignment. Those students that wish to work in groups should form their groups and inform me about their members by September 17. Nobody will be allowed to join a group after September 17. Students are allowed to quit their groups at any point during the semester, but these students will not be able to join another group.

Class participation is strongly encouraged. Class participation is not only 5% of your grade but also decisions on borderline grades will take into consideration the class participation of the student during the term.

Although class attendance is not directly represented as part of your grade, if you are absent from class you will miss points from class assignments and class participation and this will be reflected in your grade.

There will be no make-up exams.

Problem sets are due at the beginning of the stated class period. Under no circumstances will problem sets be accepted late.

GRADING SCALE:

Total Points Grade
950 - 1000 A
900 - 949 A-
870 - 899 B+
830 - 869 B
800 - 829 B-
770 - 799 C+
730 - 769 C
700 - 729 C-
650 - 699 D+
600 - 649 D
Less than 600 F

COURSE OUTLINE:

I. THE ECONOMIC SYSTEM

Chapters 1 (including Appendix), 2 , and 3.

II. ANALYSIS OF DEMAND AND SUPPLY

Chapters 4 and 5.

III. CONSUMPTION

Chapter 6.

IV. PRODUCTION

Chapters 7 , 8, and pp. 368-370.

V. MARKET STRUCTURE

a)Perfect Competition

Chapter 9.

b)Monopoly

Chapter 10.

c)Monopolistic Competition, Oligopoly, and Industrial Organization

Chapters 11, 12 and 17.

VI. FACTOR MARKETS

Chapters 13 and 14.

VII. SPECIAL TOPICS (Time Permitting)

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