Economics 160, Principles of Economics
Spring 2003
updated 04/23/2003
Required Reading:
Principles of Economics, Second Edition, N. Gregory Mankiw.
EconActive Study Guide by David L. Carr (CD-Rom).
Course Outline
Part One Introduction
1. Ten Principles
of Economics
2. Thinking Like an
Economist
3. Interdependence
and the Gains from Trade
Part One Lecture Notes (updated 04/23/2003 06:15 -0700)
Part One Homework Assignment. (due Feb. 12, 9AM by email)
Commentary on Perot/Gore debate from the Atlantic,
Part Two Supply and Demand I: How Markets Work
4. The Market
Forces of Supply and Demand
5. Elasticity and
Its Application
6. Supply, Demand,
and Government Policies
FIRST EXAM:
Part Three Supply and Demand II: Markets and Welfare
7. Consumers,
Producers, and the Efficiency of Markets
8. Application: The
Costs of Taxation
9. Application:
International Trade
Part Three Lecture Notes (updated 04/23/2003 06:15 AM -0700)
Part Four The Economics of the Public Sector (OPTIONAL-Not covered
this semester).
10. Externalities
11. Public Goods
and Common Resources
12. The Design of
the Tax System
Part Five Firm Behavior and the Organization of Industry
13. The Costs of
Production
14. Firms in
Competitive Markets
15. Monopoly
16. Oligopoly
17. Monopolistic
Competition
Part Five Lecture Notes (Chapters 13 and 14) (complete)
Part Five Lecture Notes (Chapter 15) (updated 04/23/2003)
SECOND EXAM:
Second Exam (Multiple Choice ) w/Answers
Part Six The Economics of Labor Markets
18. The Markets for
the Factors of Production
19. Earnings and
Discrimination
20. Income
Inequality and Poverty
Part Seven Advanced Topic
21. The Theory of
Consumer Choice
Grading Policy.
Grading will consist of two in-class tests and a comprehensive final. The two in-class tests will count 25% each and the final 50%. Scores will be normalized before weighting. The final will be cumulative. Tests will consist of short answer and essay style questions. Examinations will only be given at scheduled times. There are no excused missed examinations. Missed examinations will count as a score of 0. Plus/minus grading will not be used.
All examinations are closed book, closed note. Students may bring a calculator into the exam room but the calculator's memory must be purged of all class related material before entering the exam room.
There will be a series of homework assignments and quizzes. The homework and quiz scores will be added to the score on next test. Students not submitting homework or who miss quizzes will receive a point deduction on the next test.
For those statistically inclined, your course score determines your grade and is computed using the following formula:
The course score shows how well you performed relative to other students' mean performance. A negative score denotes below average student performance. A positive course score denotes above average student performance. For the purpose of assigning grades all sections of the course for the semester are considered as a group.
Grades are assigned using a modified curve. Roughly speaking, A's are earned by all students who average two standard deviation above the mean on the tests and final (a course score of 2). B's are earned by students averaging 1 standard deviation above the mean. C's are earned by students averaging 0 standard deviation below the mean. D's and F's are given to students scoring below -.5 standard deviations from the mean.
The course scores required for each grade are adjusted for the overall performance of all sections in a given semester relative to the historical performance of past classes.