Instructor: Daniel W. Skubik, PhD JD
Voice: 909.343.4288 / Fax: 909.343.4437
E-Mail: dskubik@calbaptist.edu

Microeconomics

BUS 313 (San Bernardino)

Nov 10 - Dec 29
Tuesdays, 5:00pm-10:30pm*

This course in Microeconomics extends the study of basic economic theory introduced in the course on Macroeconomics (BUS 218) to cover price theory, market structure, analysis of the firm, and current microeconomic problems of individual rational decision making under resource constraints.

Required Texts

N. Gregory Mankiw, Principles of Microeconomics (Dryden Press, 1998) [packaged with supplemental Study Guide and TAG software]

Web pages will be referenced throughout the term, contents of which you also will be responsible.

Class Schedule

Nov 10

Introduction to course and the Principles of Microeconomics
Read Preface to the Student (at xxi) and chapter 1 (at 3-16)
Surf the Dryden-Mankiw Web site at http://www.dryden.com/econ

Nov 17

Thinking like an Economist
Read chapters 2 & 3 (at 17-57) Quiz #1

Nov 24

Supply and Demand
Read chapter 4 (at 61-87) Homework Assignment #1

Dec 1

Elasticity & Supply and Demand
Read chapters 5 & 6 (at 89-130) Quiz #2
Sign-up to be responsible to discuss chapter 8 or 9 during next class session

Dec 8

Markets and Welfare Homework Assignment #2
Read chapters 7 - 9 (at 133-195); class-led discussion of chapters 8 & 9

Dec 15

Externalities & Public Goods / Introduction to Game Theory
Read chapters 10 - 11 & portion of 16 (at 199-235 & 345-354) Quiz #3

Dec 22

Labor Markets
Read chapters 18 & 19 (at 383-419) Homework Assignment #3

Dec 29

Consumer Choice
Read chapter 21 (at 447-474) Final Exam



Assessment & Grading Scale

Quizzes = 45% of final grade (3 x 15%)

90 - 100 = A

Final Exam = 35%

80 - 89 = B

Homework Assignments = 15% (3 x 5%)

70 - 79 = C

Discussion/Participation on Dec 8th = 5%

60 - 69 = D

0 - 59 = F

Attendance: You must attend at least 5 full class sessions to pass the course.

You must attend the discussion of chapters 8 and 9 on December 8th to receive credit for participation

Quizzes

Three (3) quizzes will be given during the term on the dates noted, covering material from the immediately previous and current class sessions. Format is objective, comprising multiple choice, true/false, matching, and short answer questions. Each quiz is worth 15% of your final course grade. Quizzes are closed book, closed notes.

Final Exam

One exam will be given during the term and is scheduled for the last night of class. The exam is cumulative, and will be structured like the quizzes, with the addition of one essay question requiring thoughtful application of our studies to a real-world problem. The exam is worth 35% of your final course grade.

The exam is closed book, open notes. Meaning of open notes: You are permitted to bring 1 (one) 8.5" x 11" sheet of paper with notes written on it for use during the exam. The notes may be in your own handwriting, or produced by a computer printer, of any size writing or font, front and back, without regard for margins.

Homework Assignments

Three homework assignments are due on the dates noted at the beginning of class. The questions are drawn from the end-of-chapter Problems and Applications sections of our readings. Each assignment is worth 5% of your final course grade. The specific assignments follow:

Attendance & Discussion/Participation

Attendance: You must attend at least five (5) full sessions in order to receive a passing grade for this course. Four (4) or more absences, whether excused or unexcused, will earn an automatic F. This may seem draconian, but our time together is too short and intensive. If you cannot commit to the class schedule, you should drop this course and seek an alternative. [N.B. You are counted absent if you (a) fail to come to class on any scheduled night, or (b) fail to arrive within 75 minutes of the start time.]

Although speaking in class, publicly putting and defending a position, can be daunting, you are strongly encouraged to learn to think through your own and others' experiences and insights within the context our discussions. In short, you are encouraged to demonstrate your internalization of our material for application in the real world. In this context, you are not being evaluated for reaching "right" conclusions, but for demonstrating your facility in forming arguments for any conclusions put, given the material we will cover in class.

To give direct incentive to so engage, 5% of your mark for the course will be comprised of my assessment of your classroom participation during our discussion of chapters 8 and 9 on December 8th. The point is not to create undue angst, but to determine your active engagement with the material in the context of the class.

Caveat

This syllabus is composed in good faith, with a schedule of readings, quizzes, homework and discussions which will guide us throughout the term. Still, the instructor reserves the right to make adjustments to this schedule as deemed necessary for the overall enterprise of the class. Any changes will be communicated as far in advance as feasible, and you are responsible for knowing if and when any changes have been made.

Make-Ups

Final Exam : you must arrange to take a make-up before the final class session

Quizzes : you are permitted to make-up only one missed quiz and must arrange to take a make-up before the quiz date

Homework Assignments : homework will be accepted after the beginning of class up to the beginning of the subsequent class meeting; but note that it will be marked at 2.5% (50% reduction as late penalty)

Discussion/Participation : you must be present on December 8th; this cannot be made up

N.B. Make-Ups will be arranged only on good evidence of unavoidable absence from class (e.g. a specific doctor's note for illness or employer-arranged out-of-town business trip).

* N.B. The start time of 5:00pm indicates the time I will be available on site for office hours, i.e. the time you are welcome but not required to come to talk about course material, homework and other matters about the class. Instructional time begins at 6:00pm, the time you are expected to be in class and ready for the evening's work.