Economics 101

Dr. Daniel R. Strang 117B South Hall Office Hours: Tues. and Thurs. 9:55 to 11:20 a.m. and Mon. 1:50 to 2:20 p.m. Office Telephone: 245-5365 Email: Strang@Geneseo.Edu Required Texts/Hardware: Introduction to Microeconomics 11:30 Section

MICROECONOMICS, 19th Ed. by McConnell, Brue and Flynn. An Interwrite PRS RF (clicker) They are available at the Sundance bookstore. If you purchase a previously-owned clicker, you probably should replace the battery in it before we begin the semester.

Course Description: A survey introduction to microeconomics with emphasis on the concepts of demand, supply, production, input markets, general equilibrium, and economic efficiency. Attention is given to special problems including income distribution, agriculture, spillover effects, and international trade. Course Learning Objectives: Learn the basic techniques of microeconomic thought and their application to real-world problems. Understand the fundamentals of supply and demand; use these concepts to analyze problems. Understand the determinants of demand and the determinants of supply. Understand how changes in the determinants affect equilibrium conditions. Explain the implications of comparative advantage, specialization, and trade. Explain the concept of efficiency, and use it to identify impacts of government policies and market structures. Understand the nature of the production functions and cost curves. Apply the theory of cost curves to various economic settings. Understand the ubiquitous nature of marginal analysis. Identify the four market structures and explain their conduct and performance. Apply economic theory to problems involving positive and negative externalities, social, and global issues. Reading Assignments and Topical Coverage: 1. Introduction-- PRS orientation, choices and consequences 2. Limits, Alternatives, and Choice; Graphs--Chapter 1 & Appendix. 3. The Market System and the Circular Flow--Chapter 2. 4. Demand, Supply, Market Equilibrium--Chapter 3. 5. Market Failures: Public goods and Externalities--Chapter 5. 6. First Exam 7. Elasticity--Chapter 4. 8. Businesses and the Costs of Production--Chapter 7. 9. Second Exam 10. Pure Competition in the Short Run--Chapter 8. 11. Pure Competition in the Long Run--Chapter 9.

12. Pure Monopoly--Chapter 10. 13. Monopolistic Competition and Oligopoly-Chapter 11. 14. Third Exam 15. Time permitting - Selected Topics Grade Components: Three Preliminary Exams Classroom Activities Final Total 50 pts. 20pts. 30 pts. 100 pts.

Attendance: Although attendance per se is not required, in virtually every day there will be graded classroom activities. If you are honest about the process of education, you will concede that there is no appropriate mechanism to accommodate the loss of learning do to a missed class, and similarly, there will be no provision to make-up for missed classroom activities. Study/buddy: I believe that you will greatly benefit by establishing a study/buddy in this class. I encourage you to find a study/buddy right away and work with him/her in preparing for exams throughout the course. If you find yourself in the circumstance of having missed a class, you need to ask your study/buddy (not me) what important items you missed. I am very deliberate about informing my students in class about every important administrative detail relating to the course. Either you need to be in attendance for each class to record important messages or you need to get the information from your study/buddy. Do not contact me. Classroom Etiquette: This is a large class. In order that those students who are serious learners are provided environment that is conducive to their learning, I have unfortunately found it necessary to assert several rules of etiquette. Since it is disruptive and distracting to have to have students moving about throughout the classroom during the class, I expect you to be seated and ready for the class to begin at the scheduled class time. While my class is in session I believe that it is inappropriate for you to come and go, to mill about, to conduct side conversations, to read extraneous materials, to talk on a cell phone, and to interact with your laptop computer. So, you are put on warning, if you engage in any of these activities that have nothing to do with your learning economics, I reserve the right to call you out on them. If you arent prepared to accept my scorn, do not conduct these activities. Cell phones are to be shut off and put away during classes. I teach because I have a love for teaching and I would prefer to commit 100% of my energies to your learning. I am prepared to play cop because I care so dearly about my students who are committed to learning that I am willing to accept the disdain of those who are taking my course recreationally and because experience has taught me that everyone does not share my vision of learning. If you are not comfortable with these rules of etiquette, I suspect you will be happier with another instructor or a different course, and I strongly recommend that you look elsewhere. If in spite of this gentle warning, I encounter etiquette

problems, regrettably I will have to deal with them and I will do so. Policies for Preliminary Exam and the Final: 1. With a large class it is statistically likely that at least one student will miss at least one exam. Therefore, you need to know my policy for make-up exams. Make-up examinations are given only for legitimate reasons and only if the instructor has been notified, and has given approval, prior to the scheduled exam time. If an exam is missed for legitimate reasons, the instructor may either excuse the student from taking the exam and adjust the weight components accordingly, or give a make-up. You will not be given a make-up exam if you oversleep, do poorly, or misunderstand the date of the exam. The make-up exam, if given, may differ significantly in format from the scheduled exam. The will be 3 preliminary exams. For those students who take all 3, the lowest grade for the three exams will be weighted 10% and the other two exams will be weighted at 20% each.
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Although the dates of the exams may be subject to change, the following is a tentative test schedule:
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First exam February 14 or 16 Second exam March 27 or 29 Third exam May 1 If it becomes necessary to change the test schedule, announcements will be made in class. It is your obligation to find out if changes are made.
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In order for the exams to be electronically graded and your grade to be recorded in the gradebook for the course, you must encode your Geneseo identification number (G number) and your name correctly on the coding sheets using a No. 2 pencil that you provide for the exam. If for any reason, including forgetting your pencil, you do not correctly encode your G number or your name correctly on an exam, you will automatically be penalized. The penalty will range from a reduction on the exam grade by at least 10% up to complete exclusion of the exam.
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During exams you may not have cell-phones, or any other electronic devices, on your desk other than a simple calculator. If you are unsure how I define a simple calculator, ask me.
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Although hats are truly not essential, if you feel compelled to wear a hat during exams, dont put me in a position to question if it was worn for some ulterior motive.
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Unless you have a medical problem, I dont believe that you will need to use the restroom facilities during exams. Plan on not using these facilities during exams.
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Students must bring picture-identifications with them to exams. Further, it is understood that you will be asked, as a matter of course, to show your picture-identifications to the exam proctor(s) at some point during examination periods. If you are asked to show your exam and you are unable to do so, your exam will be treated as if you have missed the exam without a legitimate reason. If more complex irregularities arise, you also may be detained and subject to disciplinary action.
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Policies for classroom activities: 1. You must be in attendance to receive the benefits of the course lectures and to receive credit for classroom activities. If you miss a class, even for legitimate reasons, you have lost that opportunity to acquire knowledge. Similarly, if you miss a class, even for legitimate reasons, you have lost the opportunity to demonstrate your knowledge of the subject matter if a clicker quiz was administered during the class period. So, do not ask for, or anticipate, make-up lectures or make-up quizzes. 2. For most of the classroom activities, you will need to have your own PRS unit. You are responsible to assure that your PRS unit is registered in the course roster and is in working order. No loaner PRS units will be provided.
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I suggest that you verify that you verify that the battery in your PRS unit has a sufficient battery charge and that your G-number is correctly encoded into your PRS unit at least once a week. Ideally you should check these things before each class leaving sufficient to solve any problems that you discover. They will be treated as your responsibility.

4. Use of more than one PRS unit by any one student will be considered a violation of acceptable course protocols, and may be the basis for disciplinary action. Use of email: Lets talk about email messages--directly and pointedly. I think it is appropriate for you to know my position. If you have an issue that you feel that you would like to bring to my attention or discuss with me, in most cases you need to speak to me directly in person. There are many opportunities for direct communication, the most appropriate of these is face-to-face in my office. If you have an insignificant issue about which you might welcome my opinion, you may decide to send me the message by email. Under those circumstances, you need to know that I reserve the right to simply ignore the message and not respond at all. So, how do you determine which approach to take. My advice to you -- if it is important to you at all, talk with me directly. If you dont really care about a response and you are prepared to receive no response, email works. Use of OUTBOX: You should be aware that I will be providing copies of many materials in the course OUTBOX. Its location is \\Files\OUTBOX\Business\Strang\Eco101. I suggest that you try to access the OUTBOX this week and if you have difficulties you come to see me in my office. Final Exam: The final exam for Eco. 101 will adhere to the College Schedule found on the Geneseo Calendar Website. The final will be held Thursday, 5/3/12, from 12:00 to 3:00 P.m. Students are encouraged to determine the possible existence of problems or conflicts. If problems or conflicts do exist, it is the student's obligation to inform the instructor during the first week of the semester and discuss a possible special accommodation. After the first week no special accommodations for the final will be made. Please check your schedule for possible conflicts NOW! Special Accommodations: SUNY Geneseo will make reasonable accommodations for persons with documented physical, emotional or learning disabilities. Students should consult with the Director in the Office of Disability Services, Erwin 105D, and me regarding any needed accommodations as early as possible in the semester.

International students, for whom English is a second-language, are permitted bring to regular classes and exams a book that facilitates translation of English words to the students first language. Finally, I realize many of the above policies may seem petty and unnecessary in a college course. Unfortunately past incidents in this course have made it clear that such policies are necessary for a small minority of the class. The good news is that complying with the policies is not at all onerous for diligent, honest students. Save this syllabus. It will answer questions that undoubtedly will arise during the semester. It tells you what I expect of you and what you can expect from me. I would suggest you glue, tape, or staple it to your notebook.