the essay of life

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Department of Economics and Finance
School of Business Administration
Montclair State University
Econ 207-01 Course Outline
Instructor: Ram Sewak Dubey
Fall 2014
Office Hours: MW 4:30pm-5:30pm, M 12:45pm -1:45pm
Office: 422, Partridge Hall
Phone: 973-655-7778
Lecture Schedule: MW 11:30am-12:45pm
Location: PA 114
I Note on Office Hours: I understand that these office hours may conflict with your class schedules. This should not come in the way of learning. You are welcome to stop by outside of my office hours, if you find me in my office and I am free.
II Course:


3 Semester

III Catalogue Description: The basic determinants of market demand. Input-output relationships in determining cost structure. Determination of prices received by resource owners in the productive process. Theory of the firm and pricing in different types of market organization with varying degrees of competitive conditions.
IV Prerequisites: ECON 101 and ECON 102
V Aims of the Course: Microeconomics is the study of how consumers and firms balance costs and benefits in making decisions and how those decisions determine outcomes in markets. Students will learn the basics of microeconomic theory and how to use economic models to analyze real world situations. Learning the course material will enhance students’ analytic and quantitative skills.


VI Educational Dimensions of the Strategic Charter Supported by the Course
1. Discipline Specific Knowledge and Competencies: It is anticipated that students will acquire the knowledge and competence for analyzing and assessing the propriety of decision making as companies and households respond to current economic circumstances. 2. Thinking Skills: Students will evaluate the efficacy of economic policy initiatives against a checklist of desired goals. Further, students will employ their thinking and creative abilities in initially answering on their own, the questions at the end of chapters of the text book. Finally, as the class is taught in an interactive manner, students participate by attempting to answer the non-rhetorical questions thrown out to the class.
3. Communications Skills: The in-class responses to both questions and cases will enhance their abilities to verbally articulate their positions on issues.
4. Change Management: Throughout the course students will come to reflect on the impact of economic forces on the world around them, on social stratification, and on the opportunities and challenges that these changes confront them with in their personal and professional lives.
5. Self-development: Students will develop, a willingness to independently initiate and execute projects; will display the temperament to listen to, as well as work with others as useful members of a team; and will in general engage in those activities that lead to a self-sustaining path to personal growth.
VII Textbook: Robert H. Frank, “Microeconomics and Behavior ” , 9th edition, 2015, published by McGraw-Hill, ISBN -13: 9780078021695 will be our text for this course. Copies are available at the Campus Book Store and the other usual sources.
You can easily find used copies online at a substantial discount. Earlier editions are similar and acceptable substitutes. The most valuable way to use the textbook is to read the assigned material prior to lecture. References to “text” in the reading list below refer to this book.
VIII Sources of Additional Readings:
Popular Newspapers:
Wall Street Journal, New York Times, Financial Times, Washington Post, The Economist,
Business Week
Federal Reserve Journals:
Federal Reserve Bulletin, Federal Reserve Bank of Atlanta Economic Review, Federal Reserve Bank of Chicago Economic Perspectives, Federal Reserve Bank of New

York Quarterly, Federal Reserve Bank of Richmond Economic Studies, Federal Reserve Bank of St. Louis Review
Other Useful Links: