UNIVERSITY OF CINCINNATI - CLERMONT

COURSE SYLLABUS AND SCHEDULE OUTLINE FOR

INTERMEDIATE MICROECONOMICS (34-ECON-281-001)

WINTER QUARTER 2004

T 12:30P – 3:10P

EDUCATIONAL SERVICES BULIDING ROOM 125

Instructor Information

Instructor: Dr. Jeff Bauer, Assistant Professor

Office: Snyder Building 272C

Phone: Office: 732-5257 24-HR Voicemail

Fax: 732-5304

Division Office: 732-5255

Home: 753-9081

E-Mail: Jeff.Bauer@UC.Edu

Website: http://www.ucclermont.edu/~bauerj

Office Hours: T 8:45A – 9:30A, 3:10P – 3:40P, Th 8:45A – 9:30A, 2:00P – 2:30P 5:10P – 6:30P. Other times by appointment.

Required Text(s)

Price Theory & Applications, Landsburg, S. E., South-Western College Publishing, 2002. ISBN: 0-324-05979-5.

Course Description

Intermediate economic analysis including such topics as: production theory, cost analysis, utility and demand theory, price competition models, equilibrium theory, and economic welfare analysis.

Course Objectives

1. Understand the derivation of price from the costs of production and value to the consumer.

2. Compare marginal value, marginal utility, and consumer surplus.

3. Determine and define types of equilibrium through various supply and demand curves.

4. Outline a firm’s production function, cost curves, and supply curve for various industries.

5. Relate the concept of efficiency to an economic context.

6. Discuss price controls, distribution/allocation, inflation, and unemployment from a theoretical microeconomic viewpoint.

Course Requirements

Reading Assignments: The student is expected to read all assignments prior to the class in which they will be discussed. He/she should be ready to participate in class discussions and activities. See http://landsburg.swcollege.com for text support materials.

Exams: There will be three (3) exams during the quarter. Exam formats will be fill-in-the-blank and multiple choice. Exams will be given as indicted on the Course Schedule.

Individual Application Assignments: There will be five (5) application assignments during the term. Application assignments are designed to provide the student the opportunity to demonstrate competence with the material though application of the concepts presented in class. Assignments will come from the textbook and outside sources and will be assigned throughout the term.

Group Pricing Project: Each student will be assigned to a group and each group will be responsible for planning, producing, and selling a commodity. Additional details and an outline for this project will be supplied during the term.

Grading:

The final grade will be determined as follows:

Exam One (Chapters 2, 3, 5)…………………..… 100 points

Exam Two (Chapters 5, 6, 7, 8)…………………. 100 points

Final Exam (Chapters 8, 10, 12)………………… 100 points

Application Assignments (5 @ 20 Points)……… 100 points

Pricing Project…………………………………… 100 points

Total Points 500 points

The numerical average will be calculated by dividing total points by 5.

Prerequisite: 34-080-141 Principles of Economics I: Microeconomics

Co-requisite: 34-080-142 Principles of Economics II: Macroeconomics

GENERAL COURSE POLICIES

Attendance and Make-Up Work

Attendance is a requirement of the course. If for some reason you cannot attend a class, please let me know by using one of the phone numbers (or other means) listed above. Make-up work will not be accepted without prior approval from the instructor.

Make-Up Exams

Make-up exams will be given at the discretion of the instructor. The student must notify the instructor of the absence before the exam begins. Notification after the exam begins will result in the student receiving a score of zero for the exam. If proper notification is given, a make-up exam will be administered which may be significantly more challenging than the examination given on the scheduled date.

Cheating and Plagiarism

The policy as stated in the University of Cincinnati Student Handbook will be strictly enforced. A copy of the Student Handbook is available in the Student Development Office.

Withdrawals

The current withdrawal policy of Clermont College will apply. The withdrawal policy for this term is available in the Registration Office.

ADA

Students with Disabilities: The policy of the University of Cincinnati Clermont College requires students to self-identify and provide proper documentation to the Director of the Learning Center for appropriate academic assistance.

Grading Scale

The following plus/minus grading system will apply:

92 - 100% = A 91 - 89% = A- 88 - 87% = B+ 86 - 82% = B 81 - 79% = B-

78 – 77% = C+ 76 – 72% = C 71 – 69% = C- 68 – 67% = D+ 66 – 62% = D

61 – 59% = D - 58% and Under = F

Note: The course schedule and procedures are tentative and subject to change depending upon the progress of the class.

COURSE SCHEDULE – INTERMEDIATE MICROECONOMICS

Week 1 Chapter 3 The Behavior of Consumers

01/06

Week 2 Chapter 4 Consumers in the Marketplace

01/13

Week 3 Chapter 5 The Behavior of Firms

01/20

Week 4 Chapter 5 The Behavior of Firms (Continued)

01/27

Week 5 Exam One Chapters 3, 4, and 5 (beginning of)

02/03 Chapter 5 The Behavior of Firms (Continued)

Chapter 6 Production and Costs

Week 6 Chapter 7 Competition

02/10

Week 7 Chapter 10 Monopoly

02/17

Week 8 Exam Two Chapters 5 (end of), 6, 7, and beginning of 10

02/24 Chapter 10 Monopoly (Continued)

Week 9 Chapter 11 Market Power, Collusion, and Oligopoly

03/02

Week 10 Chapter 16 The Market for Labor

03/19

Week 11 Final Exam Thursday, March 18^th from 1:30p – 3:30p and covering

Chapters 10 (end of), 11, and 16.