MGEB02

Price Theory: A Mathematical Approach

(Intermediate Microeconomics I)
Summer 2019
Instructor Contact Information:

Name: Dr. Ata Mazaheri

Office: IC288
Office hours: TU 12-1:30, TH 12-1
Email: ata.mazaheri@utoronto.ca
Telephone: 416-287-7348
Course website: https://q.utoronto.ca

Course Description:

This course extends the coverage of key microeconomic concepts and principles learned in the introductory
microeconomics to an intermediate level. It is a calculus-based course that introduces students to the more
advanced analytical models and enables them to develop their understanding of microeconomic policy
formulation within the context of contemporary microeconomic policy. More specifically, the course studies
individual decision-making (demand and supply decisions) within the framework of consumer theory,
theory of production, theory of the firm, & perfect competition as well as monopoly.

Prerequisite(s):

MGEA02H3/( ECMA04H3) and MGEA06H3/( ECMA06H3)and [ MATA29H3 or MATA30H3 or MATA31H3 or

MATA32H3] and [ MATA33H3 or MATA35H3 or MATA36H3 or MATA37H3]. Students who have completed
MGEA01H3/( ECMA01H3)and MGEA05H3/( ECMA05H3)and [ MATA29H3 or MATA30H3 or MATA31H3 or
MATA32H3] and [ MATA33H3 or MATA35H3 or MATA36H3 or MATA37H3] may be admitted with the permission of
the Academic Director, Economics.
Exclusion:
MGEB01H3/( ECMB01H3), ( ECMB02H3), ECO200Y, ECO204Y, ECO206Y

Textbook/Required Course Materials:

Pindyck and Rubinfeld, "Microeconomics", 9th Edition, Pearson Prentice Hall, 2018.

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Lecture Notes and Other Announcements:

• Lecture notes are posted on the portal several days ahead of the lecture. It is important to read them
before attending each lecture. It is necessary to try the assigned problems after each lecture before
attending the next lecture.
• Supplemental sample problems will be posted on the website. Some of those questions will be
taken during the tutorials. Practice the questions before attending the scheduled review sessions.

Evaluation and Grading:

Component Weight/Value Due Date

Optional iClicker 10% In Class
Test-1 25% TBA
Test-2 25% TBA
Final 40% TBA
If participate in iClicker.
50%
If do not participate in iClicker

Coverage

• Test-1: Material covered from Week-1 to Week-4.

• Test-2: Material covered from Week-6 to Week-9.
• Final Exam: is cumulative and covers the entire course.

Aids Allowed for Term Tests and Final Exam

• The term tests as well as the final are closed book assessments.
• You are allowed a non-programmable calculator.

iClicker

I will include iClicker activities in lectures. These will help us regularly engage in our course, check our
understanding and prepare for more substantial pieces of term work.

Here how it is marked.

• The iClicker component has a total mark of 10 points.

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 • For each question, you earn 2 point for correct answer, 1 point for incorrect answer, and 0 for no
answer.
• Starting from the next lecture we have a total of 10 lectures (excluding the review session) where
we use the iClicker. Your iClicker mark will be based on the best of your 8 lecture scores.
• Let me stress on this: iClicker is y no means required. If you opt not to use it, your final
will be 50%. In fact, your Final is 40% or 50% depending on whether your iClicker mark
is more or less than your Final mark. Therefore, by participating you cannot lose, yet you are
not penalized by not participating.
• Since iClicker participation is marked, clicking for someone else is considered cheating. In such
a case both parties will be awarded zero for the iClicker mark without the benefit of shifting the
weight to the final and both parties will be reported to the Department of Management. I will
occasionally ask for in-class signup to ensure individual compliance.
• I will report your mark the final. If the green vote status light illuminates when you submit a
response then it has been successfully recorded; a red light indicates a problem. iClicker
malfunctions – including when the remote seems “dead” – are easily resolved: call the technical
support toll free at 866-209-5698 or e-mail support@iclicker.com.
• To set expectations clearly, it is entirely your responsibility to: bring your iClicker to class, to
register it properly with your correct identifying information, to make sure it is in working order
(including having charged batteries), to answer the questions using your iClicker, to bring any
aids you need (calculator, textbook), to attend the lecture section you are officially registered in,
to arrive to class on time, and to stay for the entire time. Given that these are your responsibility,
it would unreasonable to expect any special accommodation and unprofessional to ask.

Register Your iClicker

You are required to purchase an iClicker. It is available in UTSC bookstore. In order to receive this
credit, you will need to register your iClicker remote in class within the first three weeks of class.

Policy on Missed Assignments/Examinations:

If you are unable to write a term test at its scheduled time because of illness or other compelling
circumstances, you need to present documentation supporting your reasons for missing the examination,
no later than a week after the assessment. There will be no makeup test. If you miss a term test with a
legitimate reason, the final exam will be re-adjusted for the total of 65%. If you miss both term tests, the
second miss will be automatically zero.

Note: You can Email me a scanned your doctor’s note within the required time. I WILL NOT be
sending confirmations.

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Policy on Re-Grading
_______________________________________________________________________________

If, after looking over your term tests, and reviewing you answers and comparing it with the posted
solutions, you feel that there has been a material error or omission in the marking of your term test, you
must observe the following procedures:

1. Create a typed note containing the following: (i) Your names, (ii) Your Student Number, (iii) Your e-
mail address, so I can communicate with you (iv) The criterion (criteria) against which you believe you
have been graded incorrectly, or an explanation of why the marker has overlooked or misunderstood
your answer's merits, or has re-acted too severely to your answer's short-comings. Hand written
submissions will not be considered.

2. Deliver your re-grading requests to me in class one week after the test is handed back. No re-grading
requests will be considered either before or after that time.

3. Re-grading will be based only on what you submit in writing, not what you might say in person. Marks
are not the subject of "discussion" or negotiation.

4. Your test will be re-considered, based on your written comments and clarifications. Re-grading
means that your answer(s) will be re-evaluated and a new grade may be assigned. This means that it is
possible to lose marks as well as to gain marks through re-grading. Therefore, please do not submit
your materials for re-grading unless you are confident that a grading error occurred. Keep in mind that
the re-grade is meant for mistakes in grading. It is not a forum for arguing about the criteria used, or
the points allocated to the criteria.

5. Addition Errors or minor petition: If there is an error in totaling up your mark or that you have a
minor petition on a single part of the Test (say only part (a) of Q2), then you may write this on the
cover of your Test paper material and hand it to me on the due date. No written petition is required.

Academic Support

The Department of Management, in collaboration with the UTSC library, will be providing academic
research support in the IC Building. To refine your research skills or to learn more about various
scholarly resources, please contact the Librarian for Management and Economics students.

Lola Rudin, Subject Librarian, Management and Economics

Room IC375
Office hours: Monday & Thursday, 1:00 – 3:00pm or by appointment
Email: lrudin@utsc.utoronto.ca
Web: http://guides.library.utoronto.ca/utsc_mgmt

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The English Language Development Centre (ELDC) helps students develop the critical thinking,
vocabulary and academic communication skills essential for achieving academic and professional
success. Personalized support includes: RWE (for academic writing); Communication Cafés (oral);
Discussion Skill-Building Cafés; Vocabulary Cafés; seminars/workshops; personal ELD consultations;
drop-in sessions. http://ctl.utsc.utoronto.ca/eld/

The Writing Centre (TWC) offers invaluable services to students (learn to become a better writer!) and
offers many different kinds of help: drop-in sessions, individual consultations, workshops, clinics, and
online writing handouts. http://ctl.utsc.utoronto.ca/twc/

Academic Misconduct

Students should note that copying, plagiarizing, or other forms of academic misconduct will not be
tolerated. Any student caught engaging in such activities will be subject to academic discipline
ranging from a mark of zero on the assignment, test or examination to dismissal from the university as
outlined in the academic handbook. Any student abetting or otherwise assisting in such misconduct
will also be subject to academic penalties.

Finally: What you should do?

• It is not far-fetched to say that MGEB02 is the mathematics of all other Economics courses. It
teaches you the foundation of Economics and provides you with the tools required to understand
other Economics courses. Therefore, if at times it appears dry and theoretical, that should not
prevent you from seeing the big picture.
• When you attend a lecture, I expect you to have studied the prior lecture as well the textbook. I
also expect you to have solved the weekly problem sets before attending a lecture. To ensure that
is the case, I occasionally test you at the start of a lecture using the iClicker. I also expect you to
have had at least a quick look at the current lecture before attending.
• If you require any assistance, feel free to ask me in class, during office hours, or if you are more
comfortable you can ask my TAs during their weekly office hours.
• I will post sample tests as well as sample final exam but you should not limit yourself to those
sample tests.

Email Policy
__________________________________________________________________________________________

Email should NOT be seen as an alternative to meeting with the instructor (or the TA) during office
hours. Nor should email be used as a mechanism to receive private tutorials (especially prior to tests) or
to explain material that was covered in lectures you missed. Therefore, I will not respond to email
inquiries unless it is an emergency. I will take up 'generic' questions that could be of interest to all
students at the beginning of the next class.

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Detailed Course Outline:
TOPIC READINGS Practice
Week-1 Introduction to Microeconomics Chapter-1, Chapter- Problem Set-0
Basics of Supply & Demand 2 Problem Set-1
Math Review Notes
Week-2 Consumer Behavior Chapter-3 Problem Set-2
(Exclusion 3.6)
Week-3 Individual and Market Demand (I) Chapter-4 Problem Set-3
Week-4 Individual and Market Demand (II) Chapter-4
(Exclusions 4.5, 4.6)
Week-5 Individual and Market Demand (II,
Cont’d))
Third Hour Review
Outside Class Test-1
Week-6 Uncertainty and Consumer Behavior Chapter-5 Problem Set-4
(Exclusions 5.4, 5.5)
Week-7 Production Chapter-6 Problem Set-5
Week-8 The Cost of Production Chapter-7 Problem Set-6
(Exclusions 7.6, 7.7)
Week-9 Profit Maximization and Competitive Chapter-8 Problem Set-7
Supply
Third Hour Review
Outside Class Test-2 (Outside Class)
Week-10 Analysis of Competitive Markets Chapter-9 Problem Set-8
Week-11 Monopoly Chapter-10 Problem Set-9
Week-12 Natural Monopoly & Sources of Chapter-10
Monopoly Power
Outside Class Final Review (TBA)
Note: References are to Pindyck’s textbook.

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