THE UNIVERSITY OF CHICAGO
Introduction to Microeconomics
Economics 19800
Autumn Quarter 2011
Mon. & Wed.,
1:30-2:50 p.m.
Social Sciences 122
Allen R. Sanderson
Harper East 487
Office: (773) 702-9459
[email protected]
http://home.uchicago.edu/~arsx/
Course Description:
The course treats by way of economic theory, applications, and contemporary issues:
(a) behavior and decision making on the part of individuals, business firms, and government; and
(b) the role of choices, tradeoffs, costs, prices, incentives and markets in the American economy.
Text and Other Readings:
N. Gregory Mankiw, Principles of Economics, 5th or 6th Ed, or Principles of Microeconomics, 5th or 6th Ed*
ME
Marshall Jevons, The Fatal Equilibrium*
= FE
Charles Wheelan, Naked Economics* (Note: revised edition)
= NE
Photocopied materials distributed in class
= PH
* For sale at the University Barnes & Noble Bookstore
Written Assignments:
There are no course/term paper requirements or problem sets.
Examinations:
There will be three midterm tests and a final examination, as noted on the reading/assignment schedule. Questions
will include multiple choice, short answers, graphing, problems, interpretations and essays. Copies of previous
Economics 198 examinations for the last five times the course has been offered are available for purchase in SS101
and on-line via Chalk.
Grading:
The final course grade will be determined on the basis of performance on the four independent examinations. Each test
is weighted equally. Students will be allowed to drop the lowest of the four scores. There are no make-up exams; if a
student misses a test then his/her grade will be based on the other three exams. Students may not take an Incomplete.
If a student withdraws from the course after Week 3 and is not passing at that time, then he/she will receive a WF.
In addition, students are expected to have completed assigned readings before each session. Some consideration in
grading will be given for productive contributions to class discussions.
Course Assistants:
Seongkyu Gilbert Park (
[email protected]), Jesica Torres (
[email protected]), Gabriel Ulyssea
(
[email protected])
Instructors Office Hours:
Tues. 2:00 to 3:00 p.m., Wed. 3:30 to 4:30 p.m., and Fri. 10:00 to11:00 a.m. Other times by appointment.
[My secretary is Grace Hammond; her office is Rosenwald 229, her phone number is 834-6672, and her e-mail address
is:
[email protected]]
Reading, Lecture, Discussion and Examination Schedule
Class
Day & Date
Topics, Reading Assignments & Exams
1
Mon., Sep. 26
Introduction to and Overview of the Course;
The Economic Way of Thinking
ME Chapters 1 & 2
FE All
PH
Wed., Sep. 28
Basic Concepts and Principles of Economics;
Supply and Demand
ME Chapters 2 & 3
NE Chapters 1 & 2
Mon., Oct. 3
Demand, Supply and Markets;
Elasticities
ME Chapter 4, 5 & 7
Wed., Oct. 5
Supply, Demand, Efficiency and Government: Applications
ME Chapters 6 & 8
Mon., Oct. 10
First Examination
Wed., Oct. 12
Introduction to Costs and Supply;
The Theory of the Business Firm
ME Chapter 13
Mon., Oct. 17
Pricing and Output under Competition
ME Chapter 14
Wed., Oct. 19
Pricing and Output under Monopoly
ME Chapter 15
Mon., Oct. 24
Monopolistic Competition, Oligopoly, and Game Theory
ME Chapters 16 & 17
PH
10
Wed., Oct. 26
Second Examination
Class
Day & Date
Topics, Reading Assignments & Exams
11
Mon., Oct. 31
Pricing and Employment in Resource Markets
ME Chapter 18
PH
12
Wed., Nov. 2
Discounting, Present Value, and Finance Theory;
Uncertainty and Risk
ME Chapter 27 (in hardback version only)
NE Chapters 5 & 7
PH
13
Mon., Nov. 7
The Microeconomic Roles of Government
ME Chapters 10 & 11
NE Chapter 3
PH
14
Wed., Nov. 9
Public Choice Theory; Regulation and Antitrust
ME Chapter 15
NE Chapters 4 & 8
PH
15
16
Mon., Nov. 14
Wed., Nov. 16
Third Examination
The Distribution of Income; Taxes; Earnings and Discrimination
ME Chapters 12, 19 & 20
NE Chapter 6
PH
17
Mon., Nov. 21
Health; Human Capital; Immigration; the Elderly
PH
18
Wed., Nov. 23
Economics and the Environment
ME Chapter 10
PH
19
Mon., Nov. 28
Fatal and Non-Fatal Equilibria; Economic Extensions and Frontiers
ME Chapter 22
20
Wed., Nov. 30
Fatal and Non-Fatal Equilibria
FE All
Wed., Dec. 7
Fourth/Final Examination (1:30 3:30 p.m.)
