Principles of Microeconomics

EC 110 Section 101
Summer 2015, Lecture
Piyali Banerjee
Monday to Friday, 12.00 pm – 1:45 pm, Bidgood 219
Office Hours and Contact Information:

Office: Bidgood 341
Office Hours: Monday and Wednesday 3.00 – 4:00 pm or by appointment, please email.

Course Objective: The purpose of this course is to serve as an introduction to economic theory and practice. This is a first course in economics. So the emphasis of this course will be placed on how to think “like an economist”. That is this course will provide analytical approach of problems that occur when examining human behavior and scarcity of resources. This course will cover basic microeconomic principles, such as supply and demand analysis, elasticity, costs and production, market behavior and externalities. This course is not a mathematical challenging course but you need to use algebra to solve some problems. We will make extensive use of graphs and graphical analysis to illustrate the economic concepts. This course is key element for understanding he functions of government and industry. So, understanding of course material is important.

Required Textbook:
N. Gregory Mankiw, Principles of Microeconomics, 7th Edition.
Course Outline (Tentative):
TopicTextbook Chapters
1. Thinking Like an Economist 1 & 2
2. Comparative and absolute Advantage 3
3. Supply and Demand 4
4. Elasticity 5
5. Consumer and Producer Surplus 7
Exam – 1 1 – 5 & 7
6. Production and Costs 13
7. Perfect Competition 14
8. Monopoly 15
Exam – 2 13 – 15
9. Monopolistic Competition 16
10. Oligopoly 17
11. Externalities and Public Goods 10 & 11
Final Exam 16 – 17 & 10 – 11
Exams and Assignments:
Grading Policy  
In Class Exam 1 (13th July. Monday, 2015) 33%
In Class Midterm Exam 2 (21st July, Tuesday, 2015)33%
Final Exam (30th July, Thursday, 2015) 33%

Problem Set: Problem sets with answer keys will be provided after each topic. These are not homework assignments but they are for you own practice. I strongly encourage you to try those problems to get a good score in this course.

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 silent during the class and do not text in class.


The only calculator you are allowed to use during tests in this course is a basic calculator. Graphing calculators and cell phones are not allowed during the exam.

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.

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 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. E 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