Economics 1021A/B

Principles Of Microeconomics

Western University

The problem of scarcity and its implications, choice; opportunity cost, specialization and exchange; supply and demand; economic choices of households and firms; competition and monopoly; resource markets; public policy; income distribution.

24HR Notes for Economics 1021A/B

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Jeannie Ann Shearer

Economics 1021A/B Syllabus for Jeannie Ann Shearer — Fall 2018

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1
PRINCIPLES OF MICROECONOMICS
ECONOMICS 1021A-004
Department of Economics
Western University September 2018
Instructor: Jeannie Shearer
Office: 4050 SSC
Phone: (519) 661-2111 ext. 85349
E-mail: jgillmor@uwo.ca
Office Hours: Monday 10:30-11:30 and Thursday 9:30-10:30
Classroom meeting times & location: Mon and Wed 1:30-2:30, SSC 2050
Course website: https://owl.uwo.ca/portal
Undergraduate inquiries: 519-661-3507 SSC Room 4075 or econugrd@uwo.ca
Registration:
You are responsible for ensuring you are registered in the correct courses. If you are not registered in
this course, the Department will not release any of your marks until your registration is corrected. You
may check your timetable by using the Login on the Student Services website at https://student.uwo.ca.
If you notice a problem, please contact your home Faculty Academic Counsellor immediately.
Prerequisite Note:
There is no prerequisite for this course.
Course Objectives:
To introduce you to the principles of microeconomics and enable you to understand and
interpret economic events using the economist's toolkit. We will analyze the choices of
consumers and producers, determine how these choices influence market outcomes, and study
the influences of government policies and interventions.
Course Learning Outcomes:
After successful completion of Economics 1021, the student will be able to
1. Implement the economic way of thinking using the concepts of scarcity, marginal analysis,
tradeoffs, and incentives
2. Determine how prices and quantities are determined in competitive and non-competitive
markets
3. Explain how consumers react to changes in prices and to budget limitations
4. Discuss the types of costs faced by producers and how producers maximize profit under
conditions of perfect competition, imperfect competition, and monopoly
5. Examine the impact of government policies and government intervention in markets
6. Understand the impact of externalities in the economy
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Textbook:
MICROECONOMICS Canada in the Global Environment, tenth edition, by Michael Parkin and Robin
Bade
Grading:
With online quizzes:
Midterm I Saturday, October 20, 4:00 pm 6:00 pm 15%
Midterm II Saturday, November 17, 4:00 pm 6:00 pm . 25%
Online participation 10%
Tutorial quizzes (best 3 out of 4) 10%
Final Exam 40%
Bonus Marks 3%
Without online quizzes:
Midterm I Saturday, October 20 10, 4:00 pm 6:00 pm 15%
Midterm II Saturday, November 17, 4:00 pm 6:00 pm . 25%
Tutorial quizzes (best 3 out of 4) 10%
Final Exam 50%
Bonus Marks 3%
I will calculate your final grade using both assessments and give you the higher mark.
Tutorial quiz dates are September 28, November 2, November 23, and December 7.
Online participation consists of 2 marks for classroom participation and 8 marks for online quizzes.
There are 12 online quizzes and marks are allocated for the best 10.
The opportunity to gain bonus marks occurs prior to each exam. Information will be announced in
class the week prior to each midterm and on the last day of regularly scheduled classes.
Note: Computer marked multiple-choice tests and exams may be subject to submission for similarity
review by software that will check for unusual coincidences in answer patterns that may indicate
cheating.
All exams run for TWO HOURS. Make-up exams are available BEFORE the scheduled exam
date and NEVER available AFTER the scheduled exam date. To be eligible to write a makeup
exam, you must supply academic counselling AND your professor with documentation that supports a
valid reason for missing the exam at least one week before the scheduled exam date. First take your
documentation to academic counselling. Then come to my office hours. Failure to meet this deadline
results in an automatic zero.
Midterm exams missed due to legitimate illness will be reweighted to the final exam. If you miss an
exam due to illness, you must print off a medical certificate, have it completed by a doctor, then take it
to Academic Counselling. After your visit to Academic Counselling, YOU MUST COME TO MY
OFFICE HOURS. A VISIT TO ACADEMIC COUNSELLING DOES NOT MEAN THAT YOU
WILL BE GIVEN A REWEIGHT TO THE FINAL EXAM. YOU ALSO NEED THE APPROVAL
OF YOUR PROFESSOR.
Exam Results:
Mid-term results will be emailed to you.
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Course Outline:
Lecture Hour
Date
Topic
1
Monday September 10
Introduction to the course and Chapter 1
2
Wednesday September 12
Introduction to MyEconLab
Bring your laptop and your access code.
Chapter 1
3
Monday September 17
Chapter 2
4
Wednesday September 19
Chapter 2
5
Monday September 24
Chapter 3
6
Wednesday September 26
Chapter 3
7
Monday October 1
Chapter 4
8
Wednesday October 3
Chapter 5
FALL STUDY BREAK
9
Monday October 15
Chapter 5
10
Wednesday October 17
Chapter 6
MIDTERM
Saturday October 20
Midterm 1 (Chapters 1, 2, 3, 4, and 5)
11
Monday October 22
Chapter 6
12
Wednesday October 24
Chapter 9
13
Monday October 29
Chapter 9
14
Wednesday October 31
Chapter 10
15
Monday November 5
Chapter 10
16
Wednesday November 7
Chapter 11
17
Monday November 12
Chapter 11
18
Wednesday November 14
Chapter 12
MIDTERM
Saturday November 17
Midterm 2 (Chapters 6, 9, 10, 11)
19
Monday November 19
Chapter 12
20
Wednesday November 21
Chapter 13
21
Monday November 26
Chapter 14
22
Wednesday November 28
Chapter 15
23
Monday December 3
Chapter 16
24
Wednesday December 5
Chapter 17
Final Exam
Exam covering all chapters studied during
the term
4
MyEconLab Quiz Schedule:
Chapter
Quiz Opens at 9:00 a.m.
Quiz Closes at 9:00 pm
1
Thursday September 13
Monday September 17
2
Thursday September 20
Monday September 24
3
Thursday September 27
Monday October 1
4, 5
Tuesday October 16
Friday October 19
6
Tuesday October 23
Monday October 29
9
Tuesday October 30
Monday November 5
10
Tuesday November 6
Monday November 12
11
Tuesday November 13
Friday November 16
12
Tuesday November 20
Monday November 26
13, 14
Tuesday November 27
Monday December 3
15
Thursday November 29
Tuesday December 4
16,17
Thursday December 6
Monday December 10
Quiz #4 and Quiz #8 close on Friday.
Why?
So that you can review your answers before the midterm.
5
Please Note
Department Policies for 2018-2019
Remember that the University expects all students to take responsibility for their own
Academic Programs. Students should also check their registration to ensure they are
enrolled in the correct courses.
1. Guidelines and policies for the Faculty of Social Science and the Department of
Economics are posted online in the current Western Academic Calendar at:
http://westerncalendar.uwo.ca.
2. Students must familiarize themselves with the “Rules of Conduct for Examinations”
http://www.uwo.ca/univsec/pdf/academic_policies/exam/administration.pdf.
3. Cheating as an academic offence: Students are responsible for understanding what it
means to “cheat”. The Department of Economics treats cheating incidents very seriously
and will investigate any suspect behavior. Students found guilty will incur penalties that
could include a failing grade or being barred from future registration in other Economics
courses or programs. The University may impose further penalties such as a notation on an
official academic transcript, suspension or expulsion.
4. Plagiarism: Students must write their essays and assignments in their own words. When
taking an idea/passage from another author, it must be acknowledged with quotation marks
where appropriate and referenced with footnotes or citations. Plagiarism is an academic
offence (see Scholastic Discipline for Undergraduate Students in the Western Calendar at
http://westerncalendar.uwo.ca/PolicyPages.cfm?Command=showCategory&PolicyCategor
yID=1&SelectedCalendar=Live&ArchiveID=#Page_20).
Western University uses software to check for plagiarism and students may be required to
electronically submit their work. Those found guilty will be penalized as noted in point 3.
5. It is a Department of Economics policy that NO assignments be dated, stamped or accepted
by staff. Students must submit assignments in class or to the instructor during office hours.
6. When appealing a mark, students should refer to the Student Academic Appeals section in
the current Western Academic Calendar at:
http://westerncalendar.uwo.ca/PolicyPages.cfm?Command=showCategory&PolicyCategor
yID=1&SelectedCalendar=Live&ArchiveID=#Page_14.
Please note the relevant deadlines.
The Department will not consider an appeal unless an attempt has been made to settle the
matter with the instructor first. Students who remain dissatisfied with the outcome may
proceed with a written appeal (e-mails are not acceptable) to the Undergraduate Director in
Economics, stating the reasons for their appeal. A checklist is provided at:
http://economics.uwo.ca/undergraduate/program_counselling/responsibilities_policies.htm
l#appeals.
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7. Systematic adjustments of a class grade distribution (either up or down) can occur in
Economics courses. The fact that grades have been adjusted is not grounds for an appeal.
8. Note the following add and drop deadlines:
Deadline to add a first term half course: Friday September 14, 2018
Deadline to drop a first term half course: Monday November 12, 2018
9. Faculty of Social Science policy states that oversleeping or misreading an exam schedule is
NOT grounds for a makeup. This rule applies to midterm and final exams in the Department
of Economics.
Policy Regarding Makeup Tests and Final Examinations
Academic accommodation will not be granted automatically on request. Students must
demonstrate by documentation that there are compelling medical or compassionate grounds
before academic accommodation will be considered.
Students who proceed to write a test or examination must be prepared to accept the mark.
Rewriting tests or examinations, or having their value reweighted on a retroactive basis, is not
permitted. Students must also book travel arrangements AFTER final exam dates have been
posted as they must not conflict with test or final exams.
Unless medically incapable of doing so, students must notify their instructor prior to the test
date or at least within 24 hours when requesting a makeup exam. Failure to follow this
procedure may result in denial of academic accommodation and a grade of zero. Students should
also set up an appointment as soon as possible to meet with their instructor. If the instructor is
not available, send an email message, copying the Undergraduate Coordinator at
econugrd@uwo.ca. Notifying instructors of a missed exam does not automatically entitle
students to a makeup.
Students who seek a makeup exam must also provide supporting medical or other relevant
documentation that their absence from a scheduled test or exam is beyond their control.
Documentation should be submitted to the Academic Counselling Office of the student’s home
Faculty as soon as possible (preferably within 24 hours of the scheduled test). Failure to
follow this procedure may result in denial of academic accommodation and a grade of zero. If
the documentation submitted is not acceptable, students will receive a zero for the missed test.
For personal illness, students may consult Student Health Services and request a Student
Medical Certificate from the physician. If assessed by an off-campus doctor, students must
obtain a certificate from his/her office at the time of the visit. The off-campus medical
certificate form must also be used and can be found at:
http://www.uwo.ca/univsec/pdf/academic_policies/appeals/medicalform.pdf.
Notes stating "For Medical Reasons" are not considered sufficient.
For religious or compassionate circumstances, students should ask their Academic Counsellor
what documentation to provide. If documentation is judged sufficient, the Academic Counsellor
will issue a Recommendation for a Special Examination (a single form for midterms or a triple-
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color form for final exams). Once students have this form, they must contact their instructor as
soon as possible to make arrangements. Even if approved by their Academic Counsellor, there
is no guarantee that students will be allowed to write the makeup test/exam.
For final examinations, students need to seek permission from their home Faculty Counsellor,
Instructor, and the Department Undergraduate Director. Failure to follow this procedure may
result in a grade of zero. Students must ensure that the Special Examination form has been
signed by the Instructor and Department Undergraduate Director and that the form is returned
to the Academic Counselling Office for approval without delay. If approved, makeup
examinations will be written within one month of the end of the exam period.
Policies Regarding Academic Accommodation
The Faculty of Social Science’s policies regarding academic accommodation is found at
http://counselling.ssc.uwo.ca/procedures/having_problems/index.html.
“Academic Rights and Responsibilities” are also outlined in the Western Calendar at
http://westerncalendar.uwo.ca/PolicyPages.cfm?PolicyCategoryID=1&command=showCatego
ry&SelectedCalendar=Live&ArchiveID=. Claiming that “you didn’t know what to do” is not
an acceptable excuse for not following the stated procedures.
Policy Regarding Class Attendance
If the instructor deems a student’s class attendance as unsatisfactory, that student may be
prohibited from writing the final examination. If there is intent to make use of this University
policy, the student will be notified in writing.
Statement on Mental Health and Support Services
Students under emotional/mental distress should visit http://uwo.ca/health/mental_wellbeing/
for more information and a complete list of resources on how to obtain help.

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