Economics 202, Section V0B
Tuesday and Thursday, 2:00-3:15
Cockefair Hall 104
Instructor: Joelle Leclaire
Office: 202A Manheim Hall
Office Hours:, 3:30-4:00, or by appt.
Telephone: 235-5999
e-mail.jjl9b0@umkc.edu (E-mail subject:
Micro 202)
Synopsis:
This course introduces the basic concepts of microeconomics. We will look at the tools used by economists to analyze the firm, the principles of supply and demand, elasticity, price determination and costs within various market structures.
Required Texts:
Lee, F. S. Introduction to
Neoclassical Microeconomics.
Parkin, M. Microeconomics, 6th edition
(Boston: Addison Wesley) 2003.
Evaluation:
Tests (3 in total at 20% each) 60%
Final Exam 40%
Resolved problem sets found at the end of each chapter of Lee can be handed in for 5 % extra credit.
In general, make-up exams will not be given for this course.
Grading scale:
A 100-90% C 71-68%
A- 89-86% C- 67-65%
B+ 85-83% D+ 64-62%
B 82-78% D 61-58%
B- 77-75% D- 57-55%
C+ 74-72% F Less than 55%
Course Outline:
| Date | Topic | Readings | |
| 1 | Jan 13 | I. Introduction to Neoclassical Economics:
A. What is Neoclassical Economics? |
Lee, pp. 3-10.
Parkin, chs.1 and 2. |
| 2 | Jan 15 | ||
| 3 | Jan 20 | B. Methodology of NC Economics | Lee, pp. 10-11
Parkin, ch.1. |
| 4 | Jan 22 | II. Consumer Behavior and the Demand Curve:
A. The Marginal Utility Approach |
Lee, pp. 14-18.
Parkin, ch. 7. |
| 5 | Jan 27 | Bentham | |
| 6 | Jan 29 | B. The Indifference Curve Approach | Lee, pp. 18-29.
Parkin, ch. 8. |
| 7 | Feb 3 | ||
| 8 | Feb 5 | C. Market Demand Curve and Price Elasticity of Demand | Lee, pp. 29-31
Parkin, ch. 3, pp. 59-64, ch.4, pp. 81-92. |
| 9 | Feb 10 | ||
| 10 | Feb 12 | Review Sections I and II | |
| 11 | Feb17 | TEST 1:SECTIONS I AND II | |
| 12 | Feb 19 | III. Production and Costs:
A. Production |
Lee, pp. 39-44.
Parkin, ch. 10. |
| 13 | Feb24 | ||
| 14 | Feb 26 | no class | no class |
| 15 | Mar 2 | B. Costs | Lee, pp. 44-50.
Parkin, ch. 10. |
| 16 | Mar 4 | Review Section III | |
|
17 |
Mar 9 | Spring break | No class |
| 18 | Mar 11 | Spring Break | No class |
| 19
|
Mar 16 | TEST 2: SECTION III | |
| 20 | Mar 18 | IV. Supply Curve and Perfect Competition | Lee, pp. 57-80
Parkin, chs. 3, 5, 11 |
| 21 | Mar 23 | ||
| 22 | Mar 25 | ||
|
23 |
Mar 30 | ||
| 24 | Apr 1 | Review Section IV | |
| 25 | Apr 6 | TEST 3: SECTION IV | |
| 26 | Apr 8 | V. Firm, Market Structure, and Prices
A. Monopoly |
Lee, pp. 88-93.
Parkin, pp. 201-205 and ch. 12. |
| 27 | Apr 13 | ||
| 28 | Apr 15 | B. Monopolistic Competition | Lee, pp. 93-101.
Parkin, ch. 13. |
| 29 | Apr 20 | ||
| 30 | Apr 22 | C. Oligopoly | Lee, pp. 101-108.
Parkin, ch. 9 and ch. 13. |
| 31 | Apr 27 | Last Class: Review Section V |
Final Exam: Thursday, May 6, 10:30 a.m.-12:30 p.m.