Economics 1P91 Fall 2014 M.

Cottrell

Brock University
Department of Economics
Fall 2014

Course Outline for Microeconomics Econ 1P91 (D2)

Principles of Microeconomics

Instructor: M. Cottrell Lecture 1: T, R 2:00 3:30 p.m.

Office: Plaza 431 Room: DHOWES
Phone: 905 688 5550 ext. 4138 Lecture 2: W 5:00 8:00 p.m.
Room: TH247
e-mail: mcottrell@brocku.ca Web: Isaac/Sakai

Text: Michael Parkin and Robin Bade; Microeconomics; Addison-Wesley

Publishing; Custom Brock University; Ed. 6, 2014.

Study Guide: On-line with purchase of text or may be purchased separately.

Simulations: On-line with purchase of text also to be placed on a dedicated web page.

Workbook: Marilyn Cottrell, Mrs. Cs Economics with Ease: A Workbook for

Microeconomics, Kendall/Hunt, 2013; Revised Edition. Green revised edition.

Tutorials: In addition to class time, each student must register in a tutorial. Tutorials are
one hour per week and mandatory. They start on Monday, September 15th.

Office Hours: Wednesdays from 3:00 to 4:00p.m. or by appointment.

Synopsis: Microeconomics is the study of the mechanisms by which goods and services are
produced and distributed among individuals. In most of the industrialized world, the allocation
mechanism used is the (mostly) free market, in which the actions of buyers and sellers,
consumers and producers, are coordinated through prices. Under certain conditions, the market
economy can lead to efficient outcomes, i.e., outcomes in which available resources are fully
utilized and allocated to the production of those goods and services that are most highly valued.
In order to understand the functioning of the market economy, we examine the
motivations of consumers and producers, and how each interacts with the other. Additionally, we
will look briefly at how the market outcomes are affected by external forces; these being
governments of various levels, and foreign buyers and sellers.
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Economics 1P91 Fall 2014 M. Cottrell

Course Objectives: This course has two main objectives. The first is to introduce students to
economic terminology and thought. The second is to provide students with some of the tools
needed to understand economic analysis.
At the end of the course, students should understand the basic concepts and models used
in microeconomics; and they should be able to apply these concepts to current economic issues.

Lectures: The easiest way to learn the course material is to attend lectures. Lectures give you
the opportunity to hear explanations, to read the instructors notes, to write your notes and to
construct diagrams step-by-step. All of these activities help you understand and remember the
course material.
I do not always cover all the material in a chapter, and the emphasis the text places on a
subject can differ from what I emphasize in lectures. The only way to know these things is to
attend class. All midterm tests and exams are based on material covered in the lectures.
Finally, lectures are where I provide any necessary information about course matters such as tests,
class changes, term papers, etc. You cannot afford to miss these announcements.
NO CELL PHONES OR COMPUTERS IN CLASS! You would need special permission.

Tutorials: Mandatory! Tutorials will begin on Monday, September 15th.

Each week, tutorial leaders will go over the tutorial assignment. Copies of the tutorial
assignments for each week are contained in Mrs. Cs Economics with Ease: A Workbook for
Microeconomics. The understanding of the methodology and answers to assignments are
available in class. It is your responsibility to obtain a copy and to prepare answers to the
assignments prior to the tutorial. Please note that this book will not be repurchased by the
bookstore because you are meant to mark it up.
In addition, (time permitting) tutorial leaders will take up answers to questions from the
Study Guide, at the request of students. The Study Guide is a complementary, self-help tool for
students. Review the multiple choice questions given in this on-line Study Guide. You may
also purchase a hard copy.
Course information is available on Isaac/Sakai.
Your tutorial grade will be comprised of three quizzes, which will be given randomly at
your tutorial leaders discretion, plus your participation. Finally, all marked midterm tests will be
distributed, and the answers to the midterm questions provided in the tutorials. Remember your
tutorial number!
Scheduling problems? Please speak with the course instructor.

Isaac/Sakai: Can be accessed from the Brock Homepage (www.brocku.ca) by selecting "Web
Services" Isaac/Sakai. At the login screen you will type in your Badger username (ab00yz)
and password. All students have one Badger ID and password they use to access any computer
lab on campus, Brock Badger Email, the Brock Portal, and Sakai. If you have not set up your
Badger ID and password, please fill out a Computer accounts agreement using Student Self
Service. If you require assistance, go to the computer commons, where a lab advisor will be able
to help you.

Review: Your returned midterms. Speak to your instructor about any errors. Do this ASAP.
You have a two-week window.

Save: Your midterms in case of an input discrepancy.

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Economics 1P91 Fall 2014 M. Cottrell

Weekly Course Outline

Date Chapter Content
Sept. 3 1 What is Economics? Please read prior to first class.
2 The Economic Problem; pg. 29 - 37.
Sept. 10 3 Demand and Supply
Sept. 15 Tutorials Begin!
Sept. 17 4 Elasticity
Sept. 24 6 Government Actions in Markets; pg. 127 141.
Oct. 1 10 Organizing Production; pg. 227 232; Chart 10.6 on pg. 240;
pg. 242 -243.
Oct. 4 First Midterm Test: Midterm test must be written in PEN.
Chapters 1, 2, 3, 4, 6
Oct. 8 11 Output and Costs
Oct. 13 Fall Break
Oct. 22 12 Perfect Competition
Oct. 29 13 Monopoly; pg. 299 307; pg. 313 315.
Nov. 4 Last day to withdraw from a D2 course without academic penalty.
Nov. 5 14 Monopolistic Competition; pg. 323 329.
15 Oligopoly; pg. 341 343; pg. 346 349.
Nov. 8 Second Midterm Test: Midterm test must be written in PEN.
Chapters 6, 10, 11, 12
Nov. 12 18 How Factor Markets Work; pg. 415 422.
Nov. 19 2 Gains from International Trade; pg. 38 - 40.
Nov. 26 Complete course.
Dec. 1 Last day of classes.

Dec. 5 - 16 Final exam: All chapters covered with emphasis on the work after
the second midterm.

Method of Evaluation:
First Midterm: Saturday, October 4th 10:00 a.m. TBS 20%
Tutorial Participation: 3 quizzes plus participation 15%
th
Second Midterm: Saturday, November 8 10:00 a.m. TBS 20%
Final Exam: December 5 - 16 TBS 45%

Academic Misconduct: Academic misconduct is a serious offence. The principle of academic

integrity, particularly of doing ones own work, documenting properly (including use of quotation

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Economics 1P91 Fall 2014 M. Cottrell

marks, appropriate paraphrasing and referencing/citation), collaborating appropriately, and

avoiding misrepresentation, is a core principle in university study. Students should consult
Section VII, Academic Misconduct, in the Academic Regulations and University Polices entry
in the Undergraduate Calendar, available at brocku.ca/webcal to view a fuller description of
prohibited actions, and the procedures and penalties.

Disruptive behaviour: will not be tolerated and the student will be removed from the lecture or
tutorial. Subsequent disruptions will find the student removed from the course.

Grading: Your final grade is based on four pieces of work. There are two midterm tests, to be
written on the dates listed above and in PEN. Midterms will be returned in your tutorial in
approximately one week. You will be assigned a tutorial grade, based on your performance on
your tutorial quizzes and on your participation in the tutorial. The final examination will be
scheduled by the Registrar's Office. You will need a minimum grade of 35% on your final
exam, which must be written, in order to pass the course. The entire final exam must be
submitted to be accepted for grading and not be considered misconduct.

Please note: You must complete all pieces of work in the course to receive a passing grade. If
you miss a test due to illness you must have a proper medical note to be allowed to write a make-
up test. You must notify me within THREE days to be allowed to write the midterm or final. In
other special circumstances, see the instructor for special permission to write a make-up test.
Once tests have been returned, you may no longer write the test.

Calculators: You may use a simple non-memory calculator during tests. Acceptable models are
available in the Bookstore. NO high-memory calculators, cell phones, or other electronic devices
and two piece pens are permitted in the class tests or the final exam. NO cell phones may be on
your person! Failure to adhere to this policy will result in a grade of zero.
Note: Texting in class = non-attendance. It is impossible to concentrate on both your course and
your personal texts at the same time. Please do not text in class!!! You dont want the WICKED
WITCH of the WEST to visit.

If You Have Problems: If you have a problem, or any questions, please do not hesitate to talk
with your instructor or tutorial leader. Everyone teaching this course has office hours.
Brock University will make every reasonable effort to provide an accessible environment and
services for all members of the University community with disabilities. If you are requesting
academic accommodations related to a disability to participate in this course, you are required to
contact the Student Development Centre Services for Students with disAbilities (4th Floor
Schmon Tower ext. 3240) and discuss these accommodations with the professor.

In Summary . . .

1. Go to lectures. It is easier to learn when you hear explanations, write notes and construct
diagrams step-by-step.
2. Each week, try problems in the Study Guide, as well as some multiple-choice questions.
Then do the assigned tutorials in the Workbook. Doing the problems and multiple-choice
questions helps you to learn, and to find out if you understand the course material.
3. Attend tutorials. Write your three quizzes, solve problems, review difficult material and ask
questions about anything you do not understand.
4. Above all, do not get discouraged. Mick Jagger and Arnold Schwarzenegger both studied
Economics and they found work!
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