Intermediate Microeconomics

EC 308 Section 005
Fall 2015, Lecture
Piyali Banerjee

Tuesday and Thursday, 12:30 pm – 1:45 pm, Bidgood 15

Office Hours and Contact Information:

Office: Bidgood 341

Email: pbanerjee@crimson.ua.edu

Office Hours: Monday & Wednesday 2:00 – 3:00 pm or by appointment, please email.

Prerequisites:

Undergraduate level MATH 121 with minimum Grade of C- or Undergraduate level MATH 125 with minimum Grade of C-. You also need to complete EC 110 and EC 111 successfully (with minimum grade C-). If you fail to meet any one or more these prerequisites, please notify me quickly. We will utilize several calculus concepts throughout the semester and it is essential for you to be comfortable using these concepts.

Course Description:

This course is intended to develop skills and topics learned in EC 110 and provide a rigorous introduction to modern microeconomic theory. Students should familiar with basic concepts underlying derivatives and differential calculus.
The course has two overall objectives: 1) To develop a deeper understanding of theoretical and analytical concepts that underlie consumer and producer behavior in a market economy and 2) To develop and apply the analytical tools necessary to evaluate choices made by individuals and firms in the real world.
We will follow the textbook rather closely. Coverage in the text will be supplemented with homework assignments, which will focus on the more technical and mechanical aspects of the course. I encourage you to participate in class discussions and to ask (relevant) questions.

Required Texts:

Intermediate Microeconomics with Calculus, 1st Edition by Hal R.Varian

Outline of Topics:
TopicsChapters
& all chapters from Exam 1 and Exam 2.
1. Consumer Choice:
a. Budget Constraint 2
b. Preferences 3
c. Utility 4
d. Choice 5
e. Demand 6
f. Slutsky Equation (Income and Substitution Effects) 8
Exam 1 2 – 6 & 8
2. Market Demand and Firm's Behavior:
a. Consumers' and Producers' Surplus 14
b. Market Demand 15
c. Technology 19
d. Cost Curves 22
e. Profit Maximization 20
Exam-2 14, 15, 19, 22, 20
3. Market Environment: 23
b. Industry Supply 24
c. Monopoly 25
d. Oligopoly & Game Theory 28 & 29
Final Exams 23-25, 28,29
Exams and Assignments
Grading Policy  
In Class Midterm Exam 1 (29th Sept., Tuesday, 2015) 25%
In Class Midterm Exam 2 (3rd Nov., Tuesday, 2015) 25%
Final Exam (8th Dec., Tuesday, 2015) 40%
Homework Assignments 10%

I have attached the tentative exam dates. If you have any conflict with Final Exam Date, contact me immediately.

Homework Assignments: Problem sets will be assigned as homework after completing each two chapters. These problem sets will help you to become more familiar with lecture material and will help you to prepare for in-class examinations. Knowledge of the homework is essential for doing well on exams. If you will fail to meet the deadline of assigned homework, you will receive a zero on that. Students will receive an answer key to the problem set on their black board after the deadline of homework.
Student may work together on problem sets but each student must turn their own submission. Students whose answers are identical will receive a score of zero and will not receive an answer key.

Bonus Points:

Bonus points can be earned in two ways:

  1. By attending and participating class in a regular basis, you could earn bonus up to 2% of your final grade.
  2. If you could maintain at least 80% scores in each homework, you will receive 2% bonus of your final grade.

The Grading Scale used in this course is the standard +/- scale used by the University:

A+ 97 - 100 B+ 87 - 89 C+ 77 - 79 D+ 67 - 69
A 93 - 96 B 83 - 86 C 73 - 76 D 63 - 66
A- 90 - 92 B- 80 - 82 C- 70 - 72 D- 60 - 62
Cell phone/tablet usage:

If you need to speak or correspond via email or text please excuse yourself quietly from my class and conduct your business outside of my class. Otherwise be respectful of other students: turn your cell phones to vibrate during the class and do not text in class.

Calculators:

The only calculator you are allowed to use during tests in this course is a business calculator such as: Texas Instruments BAII PLUSTM Financial Calculator or TI-30X IIS Scientific Calculator.

Policy on Missed Exams & Coursework:

A student who misses an exam must provide university approved documentation by next class period that the student will attend. Failure to provide proper documentation will result a grade of zero on that exam.

Attendance Policy:

Students are expected to attend class regularly and participate. Regular absences will not negatively affect your total grade. In addition, students are required to read and study the test and materials prior to coming to class and raise questions. Many problems and exercises we will cover in this class will be similar to problems on the exams. So, regular class attendance is important.

Disability Statement:

If you are registered with the Office of Disability Services, please make an appointment with me as soon as possible to discuss any course accommodations that may be necessary.

If you have a disability, but have not contacted the Office of Disability Services, please call (205) 348-4285 (Voice) or (205) 348-3081 (TTY) or visit 133-B Martha Parham Hall East to register for services. Students who may need course adaptations because of a disability are welcome to make an appointment to see me during office hours. Students with disabilities must be registered with the Office of Disability Services, 133-B Martha Parham Hall East, before receiving academic adjustments.

Policy on Academic Misconduct

All students in attendance at The University of Alabama are expected to be honorable and to observe standards of conduct appropriate to a community of scholars. The University of Alabama expects from its students a higher standard of conduct than the minimum required to avoid discipline. EC 308 adheres to the C&BA policy on academic misconduct. In particular, students should be aware that they can be denied admission to the College or can be terminated from a CBA degree program for academic misconduct at class. Infractions may result in notations in the CBA 4th floor permanent record or expulsion from CBA. Academic misconduct means using materials on assessments that are not explicitly authorized by the teacher. For example, test banks or spreadsheets or cheat sheets regardless of origination are not permissible for use on exams.

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Piyali Banerjee