University of Toronto
Department of Economics
Introduction to Economicsfor Non-Majors
Fall 2012 / Winter 2013
Instructor: Professor Avi J. Cohen
Office: 322 Max Gluskin House, 150 St. George
Office Hours: Mondays 1:15 3:45 pm; after class
Email: [email protected]
email is most reliablefor personal issues only I will respond within 36hours
[I dont do Facebook]
"The Theory of Economics does not furnish a body of settled conclusions immediately applicable to policy.
It is a method rather than a doctrine, an apparatus of the mind, a technique of thinking which helps its possessor
to draw correct conclusions. John Maynard Keynes
The ECO105Y course introduces microeconomics and macroeconomics as the basis for making smart choices in life
as consumers, businesspeople, investors and informed citizens judging government policies. Microeconomics focuses on
cost/benefit analysis of all decisions. Topics include gains from trade, how prices coordinate choices, the roles of competition
and monopoly, efficiency/equity tradeoffs, government versus market failures, environmental policies, and income/wealth
distributions. Macroeconomics focuseson the performance of market economies measured by GDP growth, unemployment,
inflation and appropriate roles forgovernment monetary and fiscal policies.Topics include GDP,economic growth,
business cycles, unemployment, inflation, money and the Bank of Canada, exchange rates,government deficits, the
national debt, globalization and trade policy.
Provides intuitive fundamentals for economic literacy without the mathematical details of ECO100Y.
Students who intend to complete a minor, major, or specialist program in Economics are advised to take ECO100Y.
However, students can pursue a minor or major program (but not specialist)in Economics with an 80% in ECO105 Y.
REQUIRED COURSE MATERIALS
Economics for Life: Smart Choices for You, 1 edition, by A. Cohen and I. Howe (Pearson, 2010) (includes Study Guide)
Economics for Life: Smart Choices forAll?, 1 edition, by A. Cohen and I. Howe (Pearson, 2011) (includes Study Guide)
MyEconLab (MEL) (Pearson 2011); peerScholar (Pearson 2012)
A bundled Economics for Life (micro+macro)/ MyEconLab / peerScholarpackage is available in the UofTbookstore
(ISBN 0133130444) for $150.
At www.pearsonmylab.com , if you enter course ID cohen14491, you will see online purchase options. You can buy
12 month access to an eText of both textbooks, with MyEconLab and peerScholar for $86. If you buy used print
textbooks, MyEconLab access alone (no eText, no peerScholar) is available for $38 for micro+macro. peerScholar
alone is $13. You can also get free 17 day access to all Economics for Life online resources so you can get started
on coursework while you decide on your purchase.
A calculator is not required and isnot allowed at tests and the exam.
Any additional required readings will be posted to the course website.ECO105Y 2 Fall 2012/Winter 2013
Your final course grade will be based on 10 on-line quizzes inMyEconLab collectively worth 15%; your best 3 marks
from the 4 non-cumulative term tests worth 15% each (l ctively 45%), a 1-2 page writing assignment in the form of
a newspaper op-ed piece worth 15%, and a cumulative final exam worth 25%. The writing assignment will usepeerScholar
and TurnItIn http://www.teaching.utoronto.ca/teaching/academicintegrity/turni.in.htm
The breakdown with the specific marks used in calculating your final course numerical average is below.
Task % of Course Grade Date Marks
MyEconLab Quizzes 15% Throughout academic year 90
Test 1 15% (4-6 pm, 75 minutes) Monday, 22 October 2012 90 |
Test 2 15% (4-6 pm, 75 minutes) Wednesday, 5 December 2012 90 | Best
Test 3 15% (4-6 pm, 75 minutes) Monday, 11 February 2013 90 | 3 of 4
Test 4 15% (4-6 pm, 75 minutes) Monday, 25 March 2013 90 |
Writing Assignment 15% Friday, 15 March 2013, 4 pm 90
Final Exam 25% (2 hours) April 10 - 30, 2013 150
Totals 100% 600
No permission is ever given to a student to write