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Economics 101: Principles of Microeconomics
Fall 2013
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Professor: Katie Schultz
Email: keschultz01@wm.edu
Office: Morton Hall #117
Office Hours: Wednesdays 2:30-3:30
Tuesdays 1:00-2:30, Thursdays 10:30-12:00
Schedule: MWF
Section 02: 10-10:50, Millington Hall 150
Section 04: 12-12:50, Andrews Hall 101
Section 05: 1-1:50, Washington Hall 201

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Course Overview: In Principles of Microeconomics, we will study the economic behavior of individuals, firms, and governments and consider how they make choices and respond to incentives in a world of scarcity. We will cover a wide variety of topics including market equilibrium, market structure, market efficiency, and externalities. Students will learn to use economics as a lens through which to understand and study a variety of subjects.

Textbook: Principles of Microeconomics, by N. Gregory Mankiw (6th Edition).

Student Evaluation: This course consists of 3 midterm exams and a final, as well as 4 homework assignments, “one minute papers”, and an Economics Journal.

Homework: There will be 4 homework assignments during the semester, each assigned at least a week before their due date. Homework will be graded based on completion. A reasonable effort will receive full credit. Note that turning in a blank page with your name or showing no work to illustrate how you arrived at a particular solution does not constitute a “reasonable effort.” Homework is due in class. However, due to class size, I will not return homework in class, but will post solutions online. Students are encouraged to come by my office to pick up their assignments. No late assignments will be accepted.

Assignment
Due Date
HW1
September 11th
HW2
October 2nd
HW3
October 28th
HW4
November 25th

Exams: Exam dates are provided below. Missing an exam due to an unexcused absence will result in a 0 for that exam. Students who are not able to take an in-class exam due to an excused absence will have the opportunity to take a make-up exam scheduled at the convenience of the instructor or to reweight the remaining 2 midterms to account for 30% each of the total course grade. Students must provide appropriate documentation (a letter from the Office of the Dean of Students) for an absence to be excused and should notify the instructor in advance of the exam whenever possible. The final exam will be comprehensive.

Exam
Date
Time
Exam 1
Sept. 18th
In class
Exam 2
Oct. 9th
In class
Exam 3
Nov. 6th
In-class

Final Exam Dates:
Section 02: December 17th, 2:00 pm - 5:00 pm, location TBA
Section 04: December 18th, 9:00 am - 12:00 pm, location TBA
Section 05: December 11th, 2:00 pm - 5:00 pm, location TBA

Economics Journal: Two times during the semester, you will be asked to write a brief journal entry. I will provide more detail on this assignment as the semester progresses.

Assignment
Due Date
ENTRY 1
October 21st
ENTRY 2
November 18th

One Minute Papers: Attendance will not be directly taken in this course. However, at the end of some unannounced class sessions, I will ask you to take one minute and write down what you did not understand during the class period and what you understood the best from that class. This provides me with helpful feedback on the material covered in lecture, as well as providing an incentive for you to attend class.

Breakdown of Course Grades:
Component
% of Course Grade
Economics Journal
2%
One Minute Papers
2%
Homework
6%
Midterm 1
20%
Midterm 2
20%
Midterm 3
20%
Final
30%
Total
100%

A grading curve will be…