Department of Economics ECON 1000D

Transcription

1 Carleton University Department of Economics ECON 1000D Introduction to Economics T. Joseph Office: B844 Loeb Office Hours: Tuesdays, 5:00-6:00pm Phone: ext Fall Course Description The study of economics begins by noting that human wants (all the goods, services, and conditions of life that people desire) seem greater than the resources available to satisfy them. Economics explores how our limited resources are allocated among alternative uses to satisfy diverse human wants. Many current issues have their roots in the problem of using scarce resources efficiently. Topical issues in economics include the government's choice of the level and composition of spending, instability of employment and income levels, inequality in the distribution of income and damaging effects of human activities on the environment. This course provides an introduction to economics. We will develop principles useful for analyzing problems with economic dimensions. We first develop a framework in which we can assess societal welfare and then focus on issues such as efficient versus inefficient resource use, how the economy would perform if left to private incentives, and how public policy can help achieve desirable outcomes. Required Textbooks: Principles of Microeconomics: Fifth Canadian Edition by Gregory Mankiw, Ronald Kneebone and Kenneth McKenzie, Nelson Education/Thomson Canada, 2011 (ISBN-10: ; ISBN-13: ). Principles of Macroeconomics: Fifth Canadian Edition by Gregory Mankiw, Ronald Kneebone and Kenneth McKenzie, Nelson Education/Thomson Canada, 2011 (ISBN-10: ; ISBN-13: ). This text was selected since it offers a comprehensive learning package, it s well-organized, up-todate, and covers current and interesting issues in economic analysis with a focus on topics of Canadian interest. Online Resources: This course will employ learning tools for use on WebCT. This will consist primarily of practice questions to assist with test preparation.

2 Microeconomics: Course Material by Week Date Topics Chapters Week #1 Sept 13 An Overview of Economics Ten Principles of Economics 1 Graphing: A Brief Review 2 (Appendix) Week #2 Sept 20 Fundamental Economic Tools Thinking Like an Economist 2 The Market Forces of Supply and Demand 4 Week #3 Sept 27 How Markets Work Elasticity and Its Application 5 Supply, Demand, and Government Policies 6 * Assignment #1 due Week #4 Oct 4 Government Market Policy Consumers, Producers and the Efficiency of Markets 7 Week #5 Oct 11 O C T O B E R T E S T Covers Weeks 1-4 / Chapters 1, 2, Week #6 Oct 18 Gains from Trade Interdependence and the Gains from Trade 3 Application: International Trade 9 Week #7 Oct 25 Market Failures Externalities 10 Public Goods and Common Resources 11 Week #8 Nov 1 Taxation Application: The Costs of Taxation 8 The Design of the Tax System 12 Week #9 Nov 8 Firm Behaviour The Costs of Production 13 Firms in Competitive Markets 14 Week #10 Nov 15 Market Structures Monopoly 15 Oligopoly 16 * Assignment #2 due Week #11 Nov 22 Monopolistic Competition 17 The Markets for the Factors of Production 18 Week #12 Nov 29 Capital Further and Labour Markets Frontiers of Microeconomics 22 December Test: To be scheduled between December 8 th and December 21 st

3 Evaluation 3 The Microeconomic and Macroeconomic sections of the course will each account for 50% of the final grade. Details regarding the evaluation structure of the Macroeconomic portion will be provided in the course outline presented in January The course grade for the first half of the course will be based on 2 tests and 2 assignments. The time and location of the second test will be determined by the Scheduling Office between December 8 th and December 21 st. Course Grade Weight Two Assignments 10% (5% each) October 11 Test 15% December Test 25% Total 50% Tutorials Weekly tutorial sessions will cover practice questions and exercises to supplement the material covered in the main classes. Teaching Assistants will work through exercises from upcoming assignments and tests. Class sizes are smaller for tutorials than the main classes and the atmosphere is more informal. Students are invited to ask questions and explore the logic behind economic models and the material covered during tutorials. Additional Teaching Assistance Teaching Assistants are available throughout the term to assist students in understanding the course material. The schedule of T.A. Office Hours will be posted on the WebCT website toward the end of September. Students are invited to consult the Teaching Assistants to help understand economic concepts covered in the course, or to assist with assignment or test preparation. Additional one-on-one help with Teaching Assistants can be obtained outside scheduled Office Hours by contacting the Instructor.

4 WebCT Resources 4 In-class Notes Notes will be posted on WebCT website before each class to facilitate with the task of note-taking. These slideshows will include interactive elements, including sections and examples to be completed in class. Class members take their own responsibility for the consequences of nonattendance. Students are welcome to make-up for material missed in class using the text or online slideshows. All requests for in-class notes presented during scheduled class time will be declined. Online Slideshows Slideshow presentations will provide summary notes for each chapter of the textbook covered in the Fall term. Practice Tests A series of daily Practice Tests (10 multiple choice questions) will be available each day from Oct 1 to Oct 10 to assist with preparation with the Oct 11 test. Availability will not be extended. A similar series of Practice Tests will be available for the December test corresponding to the material to be covered on the test. It will be most useful to attempt these practice tests after becoming familiar with the corresponding textbook material. Discussion Board Class members are invited to use the Discussion Board forum via WebCT to communicate questions, ideas and observations about the course that may be of interest to other class members. Students should use judgement and practice good netiquette in posting to this Internet forum. Questions of exclusive interest to the student posting the message would be better handled by ing a Teaching Assistant or the Instructor.

5 Administrative Details 5 All courses offered by the Faculty of Public Affairs and Management are governed by the rules provided in the Undergraduate Calendar ( communications concerning confidential matters such as grades must come from the student s Carleton University address. Tests Tests will be handed back at the end of classes. Course tests are closed book. Reference material is not permitted. While tests are being written, students may not communicate with anyone other than the Instructor, Teaching Assistants or Proctors. Students who miss the October or December tests will be allowed to write a make-up test only if they provide a medical certificate or other acceptable documentation. The format of the October make-up test may differ from the in-class test. Academic Accommodations For Religious Obligations: To be worked out on individual basis with the instructor. Consult the Equity Services Website or an Equity Advisor (ext. 5622) for Policy and list of Holy Days ( For Pregnancy: Contact Equity Services (ext. 5622) to obtain letters of accommodations. Students with Disabilities Students with disabilities needing academic accommodations are required to contact a coordinator at the Paul Menton Centre to complete letters of accommodation. The student must then make an appointment to discuss his or her needs with the instructor at least two weeks prior to the first class test to ensure sufficient time is available to make the necessary accommodation arrangements. The deadline for submitting completed forms to the PMC for formally scheduled exam accommodations is November 11 th. Final Grades Students must fulfill all course requirements in order to achieve a passing grade (D- or higher). Failure to write one or both tests (without a documented compelling reason) will result in a grade of FND ( Failure with No Deferred final examination allowed ). Failure to write the final examination in April when the student has achieved satisfactory performance during the term will result in a grade of ABS ( ABSent from a required final examination ). See Academic Regulation 2.3 for the official meanings of these grades, and note that it stipulates that no course grades are final until approved by the Faculty Dean. Application to write a deferred final examination must be made at the Registrar s Office.