Econ 3910 (#83281)
Microeconomics /Fall 2002
Dr. Bruce A. Seaman
ADMINISTRATIVE INFO: MW
Office: 636 CBA Building (35 Broad
Street); Phone: 404-651-2775; Fax: 404-651-4985; secobas@aol.com (home office).
CATALOG DESCRIPTION: This course develops models of the behavior
of individual economic units, including consumers, workers, investors and
business firms, and explains how and why these units make economic decisions. Economic behavior in various types of market
environments is analyzed. The
implications of this behavior for the allocation of resources and for public
policy are discussed.
PREREQUISITES: Econ 2106: Principles of Microeconomics
(which in turn as a prerequisite of Math 1111 (College Algebra).
REQUIRED TEXT: Edgar K. Browning and Mark A. Zupan, Microeconomic
Theory and Applications, 7th Edition, John Wiley & Sons, 2002
Optional Text: There is a student workbook keyed to the text
that can be extremely helpful. If you
find that you are having difficulties, it is highly likely that working through
the problems in the workbook will improve your understanding substantially.
WebCt: Check regularly for
announcements, relevant file attachments, sample exams, etc.
Be sure you are able to access
this useful supplemental course tool
COURSE REQUIREMENTS: There are three exams: two during the
semester and a non-comprehensive final exam. All exams are open-book and
open-notes and stress applications of economic reasoning. Sample exams are
discussed in class and serve as excellent preparation for the tests. The exams are weighted equally, except that
some credit is given to progress being made in the course.
ATTENDANCE POLICY: University and government assistance policy
require that students attend class regularly and maintain active participation
in the class. If you begin to miss
classes, you run a risk of being automatically withdrawn. Spot checks of attendance will be made as
well as occasional calling upon students to help facilitate discussion. Therefore it is very important that you
notify the instructor if you have legitimate reasons for missing some classes
(such as illness), so that no misunderstanding occurs. Also, missing classes can be highly
detrimental to your performance since the lectures and in-class problem-
solving supplement, and do not just repeat, what is in the text. NO make-up exams will be given unless any
scheduling conflict is cleared with me in advance.
COURSE SCHEDULE AND
ASSIGNMENTS: (Note that the last day to
withdraw with a "W" is October 11).
All chapter assignments refer to the Browning and Zupan
text; Note that some of the end-of-chapter problems have solutions provided at
the end of the text. Always try to do as
many of the review questions and problems as possible.
Date Topics
and Assignments
8/19: Introduction to basic economic concepts; Initial
applications
8/21: Principles
continued; Alternative demand curve interpretations
8/26: End-of-chapter
and sample exam problem session; basic supply and demand applications
8/28: Begin formal theory of consumer choice and optimization
9/2: No class: Labor Day Holiday
9/4: Conclude
basics of indifference curves, constraints, and optimization; substitution and
income effects and their use
9/9: Elasticity
and applications; intro to labor supply decisions and other applications
9/11: Continue utility theory applications; inter-temporal
choice; attitudes toward risk
9/16: Conclude
attitudes to risk applications; the basics of exchange, efficiency and prices
9/18: Sample exam analysis (catch-up on reading and
end-of-chapter problems)
9/23: EXAM I
9/25: Return and discuss exam
9/30: Production theory to analysis of cost concepts
10/2: Continue production and cost analysis
10/7: Clarify
constrained and unconstrained (long vs. short run) cost structures and
applications
10/9: Traditional theory of the firm; profit maximization and
supply curve derivations
10/14: Use of the purely competitive model: short
and long run applications
Ch 10
10/16: Further applications of the competitive
model
10/21: Monopoly
behavior: review of the basics from earlier applications; market power:
measurement and welfare effects
10/23: Applications
of the monopoly model; positive and normative principles; price discrimination and welfare effects
10/28: Further
applications of market power and policy implications; Airline industry issues;
peak-off peak pricing; college pricing
10/30: EXAM II
11/4: Return and discuss Exam II
11/6: Intro to oligopoly and antitrust basics
11/11: Conclude
oligopoly models and applications; information and the basics of game theory
11/13: Input markets: basic theory; competition vs.
market power
11/18: Finish
input market theory; compensating wage differentials; human capital; labor
unions; more on savings and investment; lotteries
11/20: Sample
exam review and problem session (specific problems assigned to be completed for
class discussion 12/2)
11/25: No class: Academic conference scheduling
conflict
Work
on problems assigned 11/20 and end-of-text questions
11/27: No class: Thanksgiving Holiday
12/2: Problems
discussed (assigned 11/20); begin further applications of input market
analysis; economic rent continued; NCAA; employment discrimination
12/4: Conclude input market applications; review for Final
Exam
Final exam: Monday, December 9: