ECON 201

PRINCIPLES OF MICROECONOMICS

SPRING 2002

Instructor: Dr. Bob Carbaugh

Office: Shaw-Smyser 428

Telephone: 963-3443 (Home: 962-5871)

Email: carbaugh@cwu.edu

Office Hours: 11:00 - 11:45 a.m., Monday through Friday

COURSE OBJECTIVES

This course will provide you with the basic economic literacy to be informed citizens in today’s world. Among the topics investigated in this course are:

1. Introduction to economics and the problem of scarcity

2. Microeconomics of product markets

3. Microeconomics of resource markets

4. Government and current economic problems

COURSE OUTCOMES

The Principles of Microeconomics course will encourage student development of:

1. Critical thinking skills

2. Use of quantitative analysis and graphical analysis

3. Application of economic theory to contemporary policy issues.

READINGS

1. Campbell McConnell & Stanley Brue, Economics, 15th Edition, 2002.

2. William Walstad, Study Guide to Accompany Economics, 2002.

3. The Wall Street Journal

COURSE GRADE

Components

1. Three Midterm Exams 300 points

2. Three Quizzes 100 points

3. Optional Comprehensive Final Exam 200 points........

Grade Scale – The following grade scale was used the last time I taught this course.

A..... 92%........ B-........ 80%........ D+........ 64%

A-.... 90%........ C+........ 75%........ D........ 60%

B+... 86%........ C........ 70%........ D-........ 58%

B...... 82%........ C-........ 68%

COURSE OUTLINE

Topic* Text Chapter Study Guide Chapter

The Nature and Method of Economics................. 1................. 1

The Economizing Problem................. 2................. 2

Market System................. 4................. 4

Demand and Supply Analysis................. 3................. 3

The U.S. Economy................. 5 (76-78)

Labor Unions................. 28 (557-560)

Test #1

Supply and Demand Applications................. 20................. 20

Theory of Consumer Demand................. 21 (394-397)

Costs of Production................. 22................. 22

Pure Competition................. 23................. 23

U.S. Agriculture................. 33

Test #2

Monopoly................. 24................. 24

Monopolistic Competition and Oligopoly................. 25................. 25

Technology, R & D, and Efficiency................. 26................. 26

Antitrust and Regulation................. 32................. 32

Resource Markets................. 27,28,29................. 27,28,29

Test #3

*Some topics may be eliminated or condensed, as time permits