ECON 101

Principles of Microeconomics

University of British Columbia

An introduction to the basic statistical methods for economics. Topics include economic data analysis, index numbers, univariate and bivariate probability distributions, correlation and regression, sampling distributions, properties of estimators, and hypothesis testing.
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Economics
ECON 101
Robert Gateman

ECON 101 Syllabus for Robert Gateman — Fall 2018

© 2018 Robert G. Gateman All Rights Reserved
1
INTRODUCTORY MICROECONOMICS
SYLLABUS
COURSE NAME: Introductory Microeconomics
COURSE NUMBER: Economics 101 Sections 005, 006, 007
YEAR AND TERM: 2018W1
INSTRUCTOR: Robert Gateman
INSTRUCTOR CONTACT INFORMATION:
Room 255 Iona
Course Canvas Inbox
ACADEMIC CALENDAR COURSE DESCRIPTION:
Elements of theory and of Canadian policy and institutions concerning the economics of
markets and market behaviour, prices and costs, exchange and trade, competition and
monopoly, distribution of income.
PREREQUISITES/CO-REQUISITES: None
CONTACT HOURS: 150 minutes of lectures and 50 minutes of tutorial.
LOCATION OF CLASSES/TUTORIALS: As described on Canvas
© 2018 Robert G. Gateman All Rights Reserved
2
DETAILED COURSE DESRIPTION
LEARNING OUTCOMES:
Objective of this Course
A cursory perusal of any newspaper will provide you with a wealth of topics that require a
basic appreciation of macroeconomics: deflation risk, quantitative easing, asset bubbles,
bailouts, sovereign debt, youth unemployment, economic growth and climate change the
list is endless.
The objective of this course is to focus on developing a general model of the economy that
will allow you to understand and critique current economic phenomena. Understanding
economic growth, inflation, unemployment, monetary and fiscal policy, these are all
invaluable tools for a contributing member of society.
Goal of this Course
I hope that you will kindle your joy of learning, questioning and challenging.
You may need to discard your preconceptions, wipe your slate clean, and develop a
heightened sense of confident doubting.
I expect that you will develop skills for reading unfamiliar material, then analyzing,
synthesizing and evaluating what you have read in an effective and creative manner. I will
steer you in the right direction; but, the driving is up to you. You can only learn these skills
with practice. Economics is the springboard to critical thinking.
You may find this learning process foreign and a bit unsettling at first, but the learning is in
the journey. I expect you to learn how to learn.
UNIVERSITY CLOSURES:
There are statutory holidays that may affect our lectures or tutorials:
Thanksgiving Day 8 October Monday
Remembrance Day 12 November Monday
RECOMMENDED TEXTBOOKS:
1. gBook: Gateman, R., MicroEconomics September 2018 (this edition is about
20% updated from the last edition).
2. Text and Studyguide: Gateman, R., MicroEconomics September 2018 15th ed.,
PearsonEd, Toronto, 2007.
3. MyEconLab MEL: comes with the “package”.
© 2018 Robert G. Gateman All Rights Reserved
3
ë
Note:
1. All are available at DISCOUNT TEXTBOOKS, #217-2150 Western Parkway
(UBC Village above Booster Juice) Telephone: 604-221-1822.
2. All may be purchased as a “package at a favourable price from Discount
Textbooks.
3. All books are highly recommended, but not required, in order to submit your work.
ASSESSMENT METHODS:
The final course grade will be determined according to the following weighting:
Quizzes 10%
RIE Assignment 10%
Mid-term Examination I (50 Minutes) 20%
Mid-term Examination II (50 Minutes) 20%
Final Examination (120Minutes) 40%
TOTAL 100%
Midterms: midterms are preset and cannot be changed without prior (2 weeks) express
approval from your professor. If you are unable to sit a midterm exam, please see me in
person. With my express consent, I may transfer the weight of your midterm to the final
examination.
Final Exams and Standing Deferred Exams: finals will be cumulative, covering all the
material studied in the course. The final exam for our course will be set sometime during
4 - 19 December. You must keep this entire time available until the Final Exam Schedule
is posted sometime mid-course. For deferred final exams, see FAQ’s on the homepage.
ASSIGNMENTS:
You will be expected, without notice, to complete the corresponding assignments in the
StudyGuide section of the text after each chapter in the text is completed in the lecture.
You do not have to hand in the assignments. You may also find it helpful to study using
the optional online MyEconLab. Registration and use of MyEconLab is optional.
ONLINE QUIZZES:
You will be expected, without notice, to complete the online quiz after each chapter in the
text is completed in the lecture. The Due Dates are posted on Canvas and form part of
this syllabus. These quizzes are for marks and are found at Quizzes on Canvas. You will
have two attempts; each attempt will be different randomized questions; the computer will
save the highest score and record it in your Grades. It is recommended that you use the
UBC lab computers; if you opt to use another computer, and it crashes or times out, this
is your risk. Note that the two attempts are granted to allow you one free “crash”.
© 2018 Robert G. Gateman All Rights Reserved
4
READING IN ECONOMICS ASSIGNMENT - RIE:
The detailed instructions will be provided on Canvas and are incorporated into this
syllabus. There is a RIE Practice Run to learn how to submit your paper. If you do not
complete the Practice Run, then no subsequent arguments regarding problems will be
entertained. Next there is the RIE Real Run where you submit your completed paper and
do the peer and self-reviews. At this stage, if you encounter a problem please contact
your TA immediately. It is important to note that if you do not submit your paper by the
submission due date, or you do not do the peer and self-reviews by the due date, you will
automatically receive a zero for the RIE assignment. Submit your work early. No excuses
can be accepted for late submissions, as the computer software will not accommodate.
TUTORIALS:
Before the first lecture, you will register in a tutorial which will be held for 50 minutes per
week. If you have been unable to register for a tutorial through Student Services Centre
(SSC) please keep trying. The bottom line is the tutorial is required, just like the lectures. If
you are having difficulty registering for a tutorial, please attend on reception at the Vancouver
School of Economics, Iona Building. Technically, if you do not register for a tutorial, then
your name will not appear on the online class management system i.e. you may not exist.
Attendance: Attendance at the tutorials is required.
Switching Tutorials: If you wish to switch tutorial groups, you must do it online before the
“add/drop date.
Rescheduled Tutorials: If a tutorial needs to be rescheduled, your TA will notify you on
Canvas.
Start Date for Tutorials: 10 September 2018
GATEMAN HOMEPAGE:
All class communication is done online through Inbox at: www.canvas.ubc.ca
© 2018 Robert G. Gateman All Rights Reserved
5
NEED HELP:
Note: I do not communicate via ordinary email. Canvas Inbox Only.
As this is a large class, it is difficult to establish office hours to suit everyone’s schedule;
therefore, students are encouraged to consult with the professor/TA in any one of the
following manners:
1. “Mobile Office Hours”: after class
2. Inbox and Chat: on Canvas
3. Professor office hours: M/W Rm 460 IBLC; F Rm 156 IBLC, 1310
4. Tutorial/discussion hour: in which you have registered
5. Teaching Assistant office hour: announced by TA in first tutorial
6. Teaching Assistant email: announced by TA in first tutorial
CONTACTING PROFESSOR:
The preferred method is in person, either in Mobile Office Hours after class, or Scheduled
Office Hours. A secondary approach is through Inbox on Canvas. Please make it a part of
your life to “look before your leapon Canvas; most questions are already answered online.
TAKING LECTURE NOTES:
The professors lectures will closely follow his Text (the gBook), available from DISCOUNT
TEXTBOOKS, #217-2150 Western Parkway (UBC Village above Booster Juice)
Telephone: 604-221-1822.
The gBook, text including study guide, and MyEconLab MEL are available as a “package”
from Discount Textbooks at a favourable price.
gPOD:
For your own protection, and to maintain the integrity of exams, the gPod/Sharp ES510 will
be the only calculator permitted during exams. Check with TA re suitability of calculator.
COURSE OUTLINE:
Every effort will be made to present the course in a manner that follows as closely as
possible the structure established in the text. Of course, class needs and preferences may
dictate amendments to the following course outline; consequently, the professor reserves
the right to alter this outline.
© 2018 Robert G. Gateman All Rights Reserved
6
ARRIVING LATE FOR CLASS:
I appreciate that some on you may miss your bus or have to walk from the other side of
campus. To accommodate the students who arrive on time, I ask those of you who arrive
late to wait outside the physical classroom until 10 minutes after class has commenced. We
will then come and get you. Think of it like going to a hockey game late and being asked to
wait until an intermission in order to be seated. If you are later than 10 minutes, then you
have missed that hour lecture.
ELECTRONIC DEVICES IN LECTURES:
For my personal comfort, and the comfort of your fellow students, please do not use
electronic devices in class, including but not limited to: laptops; mobile phones; handheld
devices, tape recorders, cameras, apple watches etc. Recording my lectures in any fashion
is with my consent only. “Blackberry Down”. Violations will be treated as academic
misconduct.
STUDENT GUIDEBOOK AND EXPECTATIONS GUIDEBOOK:
As well as this syllabus, there is a Student Guidebook and an Expectations Guidebook
that are incorporated by reference into this syllabus. In other words, you are deemed to
know the information contained in these documents.
CALENDAR OVERRIDE:
If this syllabus is in conflict with the UBC calendar, the UBC calendar takes precedence.
ALSO INCLUDED IN THIS SYLLABUS
Incorporated by reference in this syllabus are the following documents:
Student Guidebook
Expectation Guidebook
RIE Instructions on Canvas
Instruction Modules on Canvas
Quiz due dates on Canvas
© 2018 Robert G. Gateman All Rights Reserved
7
COURSE OVERVIEW:
Every effort will be made to present the course in a manner that follows as closely as
possible the structure established in the text. Of course, class needs and preferences may
dictate amendments to the following course outline; consequently, the instructor reserves
the right to alter this outline.
The course can be over-simplified into the following FIVE theoretical subsections:
I INTRODUCTION
A. What is Economics? (1)
B. How Economists Work, If They Do. (2)
II DEMAND AND SUPPLY
A. Basic Theory (3)
B. Elasticity (4)
C. Applications (5)
III BEHIND DEMAND AND SUPPLY
A. Behind Demand Consumer Theory (6)
B. Behind Supply – Producer Theory (7, 8)
IV DIFFERENT MARKETS
A. Perfect Competition (9)
B. Monopoly (10)
C. Imperfect Competition (11)
V GOVERNMENT AND MARKETS
A. Efficiency and Public Policy (12)
B. Market Failure (16)
© 2018 Robert G. Gateman All Rights Reserved
8
LECTURE SCHEDULE
Lecture
Week
Topic
Chapter(s) Text
1
Economic Issues and Concepts
How Economists Work
1
2
2
Demand, Supply, Price
3
3
Elasticity
4
4
Markets in Action
5
5
MIDTERM EXAM #1 Friday 5 October 1900
Consumer Theory (Demand Theory)
6
6
Consumer Theory (Demand Theory)
6
7
The Theory of the Firm - SR (Supply Theory)
7
8
The Theory of the Firm – LR (continued)
8
9
MIDTERM EXAM#2 Friday 2 November 1900
Perfect Competition
9
10
Monopoly
10
11
Imperfect Competition
11
12
Efficiency and Public Policy
Government Intervention
12
16
FINAL EXAMINATION
TBA by Enrolment Services 4 - 19 December
ALERT:
1. For winter courses, the midterms are Friday evenings.
2. For summer courses, there will be a lecture after the midterm.
3. For summer courses, each calendar week includes two lecture weeks.
4. All communication is on Canvas Inbox.
© 2018 Robert G. Gateman All Rights Reserved
9
DATES TO REMEMBER
Classes Commence
Tutorials Commence
No W Drop Day
Midterm #1
Thanksgiving Day Holiday
No F Drop Day
Midterm #2
Remembrance Day Holiday
Classes End
Final Exam Period
_______________________________________________________________________
© 2018 Robert G. Gateman All Rights Reserved
10
RELATED POLICIES
SENATE POLICIES
Academic Concession
http://www.calendar.ubc.ca/vancouver/index.cfm?tree=3,286,0,0 - 15620
Policy on Academic Freedom
http://www.calendar.ubc.ca/vancouver/index.cfm?tree=3,33,86,0
Freedom from Harassment and Discrimination
http://www.calendar.ubc.ca/vancouver/index.cfm?tree=3,33,87,0
Religious Observances
http://www.calendar.ubc.ca/vancouver/index.cfm?tree=3,48,0,0
Accommodation for Students with Disabilities
http://www.calendar.ubc.ca/vancouver/index.cfm?tree=3,34,0,0
Sexual Assault and Other Sexual Misconduct
https://universitycounsel.ubc.ca/files/2017/05/policy131_final.pdf
Prevention of Sexual Violence and Support for Survivors
https://sexualviolenceresponse.ubc.ca/
© 2018 Robert G. Gateman All Rights Reserved
11
UBC CALENDAR POLICIES
Academic Honesty and Standards
http://www.calendar.ubc.ca/vancouver/?tree=3,286,0,0
Attendance
http://www.calendar.ubc.ca/vancouver/index.cfm?tree=3,36,0,0
Grading Practices
http://www.calendar.ubc.ca/vancouver/index.cfm?tree=3,42,0,0
Student Conduct and Discipline
http://www.calendar.ubc.ca/vancouver/index.cfm?tree=3,54,0,0
Religious Accommodations and Exams
http://students.ubc.ca/enrolment/exams/exam-policies/religious-accommodations
Use of the Formal Examination Periods
http://www.calendar.ubc.ca/vancouver/index.cfm?tree=3,41,89,0
Viewing Marked Work
http://www.calendar.ubc.ca/vancouver/index.cfm?tree=3,41,93,0

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