Economics 1B

PETER B. LUND

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Sample Exam Questions Grade Intervals Pre-Class Exercise

Economics 1B - S/02
Sections 6 & 7

COURSE SYLLABUS

WELCOME TO ECONOMICS:

Economics is a powerful academic discipline. All knowledge is power, but insightful knowledge about fundamental and important everyday events in our lives is especially powerful. Such knowledge is gained from the study of economics.

The gains from studying economics do not come easily, however. This course in economics principles is not an easy course. Very little that is worth having comes to us easily, and you are done a disservice if this course does not challenge you and press the limits of your ability to think, study, understand, and learn.

A welcome is extended to those who seek the power of knowledge and who are prepared and willing to meet the academic challenge learning economics offers. Careful attention at the very outset of the course to the following details is your important first step.

PURPOSES OF THE COURSE:

To gain a mastery of basic economic concepts, models, and institutions which will lead to an initial and partial understanding of the structure and workings of the private market economic system in its micro aspects.
To acquire the capacity for and habit of thinking in a structured, critical, and analytic way that examines and weighs the incremental beneficial and costly effects of the choices we make in our lives, the "economic" way of thinking.
To eradicate incorrect, misinformed, and nonsensical knowledge and understanding of economics that has been acquired from casual personal observation of the economy and from listening to and watching politicians, businessmen, and talk show hosts, guests, and callers.
To develop curiosity about and an interest in how the world we live in works.

MODE OF THE CLASS:

A structured and comprehensive presentation of the material covered in the textbook will not be given in class sessions. Rather, class sessions will be devoted to:

Presentation and discussion of questions, observations, and anecdotes based on or taken from real-world situations. Sheets with leading questions for class discussion will be distributed.

Discussion of questions from students about currents events and about material found in the text and study guide.

Structured presentation of some of the material covered in the textbook.

Introduction of additional materials not covered in the textbook. (When such materials are introduced in a class session, explicit note will be made.)

NECESSARY SKILLS:

For most persons, the study of economics is very demanding and requires much time, effort, and adequate levels of academic skills. The study of economics helps develop the following skills, but adequate levels of the skills are needed to begin the college level study of economics. Verbatim note-taking and rote memory skills will be of minor use.

Quantitative/Mathematical

Verbal: reading, writing, speaking, and understanding the English language.

Thinking: analytically, critically, abstractly.

Studying and Understanding.

NECESSARY EFFORT:

To earn a good grade in the course, adequate levels of the above skills are needed. In addition, sufficient effort must be forthcoming to do all (not just part) of the following:

Attend all class sessions, listen carefully, understand what is said, ask questions, take thoughtful (not verbatim) notes, and study the notes.
Read and study the textbook presentation of a topic before the class session(s) dealing with the topic, and reread and restudy the textbook following class discussion. Topics and question sheets will be distributed to help direct your attention to the material to be taken up in each class. Answers to the questions should be prepared before each class.
Spend a minimum of two hours outside of class studying course material for every hour in class, and do this routinely throughout the course. Attempting to study and learn material just before exams will not be of great help.

TEXT:

The textbook for the course is The Micro Economy Today by Bradley R. Schiller, 8th edition.

STUDY GUIDE:

Purchase and use of the Study Guide to accompany the text is very strongly recommended. It is a significant aid to mastery of course material.

GRADE:

Evaluation of student performance in the course is by examination:

First Hour Exam 25% (21 February)
Second Hour Exam 35% (4 April)
Third Hour Exam 40% (Sec. 6, 23 May; Sec.7, 21 May)

The third exam will be given at the time scheduled for the course final exam and is not cumulative.

EXAM MODE:

Exams seek to determine understanding (not rote memorization) of concepts, principles, and analytic points presented in the course. The questions include short answer (multiple choice, fill in the blanks) and short analytic essay questions. Sample questions will be discussed during the review session prior to each exam and are available on the instructor's Web site: www.csus.edu/indiv/l/lundp/

GRADING MODE:

No explicit grading curve is used in the course. Economics principles constitute a well-defined and widely accepted body of knowledge and a mode of thinking, and mastery of that knowledge and thinking mode must be demonstrated at levels appropriate to the grade awarded.

OFFICE HOURS:

Students are invited to discuss the course or any other matters of concern during office hours held in Tahoe 3020 at the following times: TR 7-7:30 and 10:30-11 AM. MW 5-5:30 PM. The phone number for 3020 is 278-7078 and for the Economics Department Office is 278-6223. E-mail address: pblund@csus.edu. Instructor Web site: www.csus.edu/indiv/l/lundp/ Published on the Web site are the course syllabus, sample review questions for each exam, and other items that might be of interest.

TOPICS AND ASSIGNMENTS

Month	Date	Topic	Chapter in Text

August	29	Class Introduction: the definition of economics	1
	31	Introduction to Economics	1,2
September	5	Introduction to Economics	1,2
	7,12,14	Demand and Supply Analysis	3
	19	Review
	21	First Exam

September	25,27	Consumer Analysis	5 (omit appendix)
October	2	Production Analysis	6
	4,9	Cost Analysis	6
	11,16,18	Perfect Competition	7,8, Handout
	23	Review
	25	Second Exam

October	30	Monopoly	9
November	1,6	Monopoly	9
	8	Introduction to Government Economics Antitrust	4 9 (pp. 204-205) 10 (pp. 230-232)
	13	Regulation	12
	15	Public Goods	4
	20,27	Externalities	4,13
	29	Income Distribution	18 (pp. 362-365) Handout
December	4	An Alternative View of Government	Handout
	6	Review
	11	Third Exam At the scheduled final exam time: 8AM

EXAM INFORMATION AND ADVICE

1. Completion of exams and other assignments at required times. In order that no student gains an advantage over other students and all students are treated equitably, all tests must be completed at the scheduled dates and times. Penalties will be given for failure to do this except in those cases where a significant illness or job-related problem interferes. If an exam must be missed and the reason is acceptable, the student must inform me prior to the exam if possible. If it is not possible, I must be consulted no later than the first class session following the missed exam. Failure to do so will mean an "F" grade will be given to that exam or assignment. Evidence must be provided with which I can verify the excuse. This includes car problems and deaths in the family.

2. Makeup exams. All makeup exams will be given at the time of the final exam for the course. Because all exams in my courses are one hour in length, including the final exam, the two-hour final exam period allows an hour for a makeup exam. Makeup exams will be given immediately following the final exam.

2. Materials Needed. For the exam you will need only a writing implement and knowledge of the material. Responses to questions may be written on the exam sheets. Calculators are allowed.

3. Show Knowledge of Course Material. Each exam question is an attempt to get you to reveal your understanding of material presented in the course relevant to that question. Questions should be answered accordingly.

4. Say What You Mean. Be sure that your answer does, in fact, say what you mean to say. (Whether you mean what you say doesn’t matter.)

5. Length of Exams is One Hour. All exams are one hour in length. Allocate time accordingly.

6. To Learn Correct Answers. Come to the class session following the exam to learn what was expected in the answers. No comments are written on the exams.

7. Do Not Be Late. Do not be late for the start of the exam, as your coming in late will disturb the concentration of students who started on time. Any student who is more than five minutes late will be penalized five points on the exam.

8. No Cheating Tolerated. Cheating is one of the most reprehensible forms of student behavior and will be dealt with severely. With apologies to those who do not cheat, I will police the room during exams.

9. Leaving the Classroom. Come to the exam prepared to stay the full hour. If it is absolutely unavoidable that you leave the classroom for some appropriate purpose, do not leave without first getting permission.

10. Noise-Making During Exams. Clicking of pens, repeated sniffing of runny noses, popping of gum, and the like interfere with concentration and are inappropriate behavior.

ADD/DROP POLICY

It is extremely important that every student understands the University Add/Drop policy. Please click on this link to access the page which details this policy: ADD/DROP.