Introduction to Economics

Econ 10 - Section 007

Spring 2005

Schwartz 

 

Teaching Assistants

 

 

Office Hours

Office

  Email address

 Silviya Niklova (Head TA) MW 12:00 PM - 1:00 PM Hanes 306C

nikolova@email.unc.edu

 Bomani Jones MW 11:00 AM - 12:00 PM Hanes

bojones@email.unc.edu

 Syed Saad R 11:00 AM - 1:00 PM Hanes 306A

tsalam@email.unc.edu

 Yan Shi M 2:00 PM - 4:00 PM Hanes 302

yshi@email.unc.edu

 

     

Undergraduate Teaching Assistants

 Website:  UTA

Day/Hours

Room

  Email address

 Brian Bunker Wed 6-7 PM Gardner 307 or 309 bcbunker@email.unc.edu
 Greg Knudsen Tues 6-7 PM Gardner 307 or 309 gknuds@unc.edu
 Susan Fisk Mon 6-7 PM Gardner 307 or 309 sfisk@email.unc.edu
 Andy Blinder Thurs 6-7 PM Gardner 307 or 309 blinder@email.unc.edu

 

Class Meetings

Class lectures will be given three times a week in Carroll Hall, Room 111, 1:00 - 1:50 pm, MWF. 

Recitation classes will be held once a week to review the material covered in lecture, the textbook, study guide questions, and generally assist your understanding of the course material.  All students in this course MUST be registered in one of the recitation sections listed below.  Any student not registered for a recitation section will be dropped from the course.

Section Day  Time Building Room Teaching Assistant
701 M 10:00 AM - 10:50 AM Gardner 009 Bomani Jones
702 T 11:00 AM - 11:50 AM Gardner 103 Yan Shi
703 T  8:00 AM - 8:50 AM Gardner 009 Syed Saad
704 T 10:00 AM - 10:50 AM Gardner 103 Yan Shi
706 M 11:00 AM - 11:50 AM Gardner 103 Silviya Niklova
708 T 4:00 PM - 4:50 PM Gardner 103 Yan Shi
709 W 11:00 AM - 11:50 AM Gardner 103 Silviya Niklova
713 M 9:00 AM - 9:50 AM Gardner 103 Syed Saad
714 W 9:00 AM - 9:50 AM Gardner 103 Syed Saad
716 W 10:00 AM - 10:50 AM Gardner 103 Bomani Jones
717 W 9:00 AM - 9:50 AM Gardner 009 Bomani Jones

Textbook and Study Guide

The following are required for the course:       

Principles of Economics, Second Custom Version for UNC - Chapel Hill, Karl E. Case and Ray C. Fair, Pearson/Prentice Hall, 2005.  

Study Guide to Accompany Principles of Economics, Second Custom Version for UNC - Chapel Hill, Pearson/Prentice Hall, 2005. 

Course Compass Website 

The textbook combines print and electronic media via the internet. Follow the instructions given in the textbook to access the Course Compass website, or click on the Registration Instructions link below. This customized version is divided into two sections, Principles of Microeconomics and Principles of Macroeconomics, and a card is included with a student access code which enables you to register and log on to the book's website of interactive media including sample test questions, video examples, concept checks, exercises, interactive graphs, and poll questions. The placement of these links are noted throughout the printed version of the textbook. The website also includes supplemental material at the end of each chapter including a summary, practice quiz, key terms, problem sets, and exercises. 

 

The course ID is SCHWARTZ71232

 

REGISTRATION INSTRUCTIONS

 

Homework Assignments (HW)

 

Homework assignments are included in the course schedule below.  In general, the problem sets at the end of each chapter, which are given on the Activebook website under "Chapter Wrap-Up, End-of-Chapter Resources," are assigned as homework which will be reviewed in recitation.

 

In addition, "Application Questions" for each chapter in the Study Guide are assigned as a review of the important points in each chapter.  The answers to these questions are given in the Study Guide.  If you do not understand the answer to any of these questions, or any other question in the Study Guide, you should ask for an explanation in recitation, visiting your TA during office hours, or via email to your recitation TA.       

 

Grades and Exams

 

Course grades will be based on your recitation score, scores on two (2) midterm exams, and your score on the comprehensive final exam. Your recitation grade is the average of your highest four scores on five pop-quizzes given randomly to each recitation section throughout the semester. Recitation scores will be normalized across all recitation sections before calculating final course scores to correct for possible differences in the difficulty of quizzes in different recitation sections.

 

Your course score will be calculated using each of the following four different weighting methods: 

 

Recitation score is worth 10 percent, plus:

  1. each midterm exam is worth 20 percent, and the final exam is worth 50 percent.

  2. your highest midterm score is worth 30 percent, and the final exam worth 60 percent.

  3. if you take at least one midterm exam, the final exam is worth 90 percent.

  4. if you do not take either midterm exam, the final exam is only worth 80 percent.

The method that yields the highest score will be your overall course score.  Course scores will be curved prior to assigning course letter grades.

 

This method of calculating course scores has an advantage over a straight average because it gives you a chance to improve your score by doing well on the comprehensive final exam. If you do not do well on the midterms or do not take one midterm you can still recover by doing well on the comprehensive final exam.  Note, however, If you do not take either midterm exam there is a 10 percent course score penalty, so you can only partially recover by doing well on the final exam. The optimal strategy to maximize your grade under this system is to take both midterms exams. 

 

Exams and quizzes will consist of multiple choice questions very similar to those on the textbook website throughout each chapter, at the end of the chapters, and in the study guide. You should take advantage of these practice questions to prepare for exams and quizzes. Dates for each of the exams are given in the course schedule below. 

 

Grade Distribution:  For examples of typical final course grade distributions, click these links: 

 

Econ10 Spring 2003

Econ10 Fall 2003

 

Rules and Regulations

  1. No make-up exams or make-up quizzes will be given, NO exceptions.

  2. No "incomplete" course grades will be assigned.

  3. No "extra credit" work will be assigned to anyone to improve grades.

  4. These rules and regulations, grading system, and exam dates will not be changed this semester.

  5. Students are expected to strictly adhere to the Honor Code.

Access to Exam Scores  

Students can access the ATN web site to get midterm and final exam scores after the exams have been scanned.  You cannot use this service if:  1) you do not have an email account, or 2) you did not properly code your PID number on the answer sheet.  If you cannot get your score, exam results will be available from your TA at your next recitation session. At the ATN exam score web page, enter your ONYEN and password. To go to the ATN Exam Scoring Reporting Service, click:

STUDENT CENTRAL

Course Schedule and Assignments

 

The following is a tentative course schedule and is subject to change, but the exam dates are firm.  Check the schedule often to make sure you are keeping pace with the reading, web exercises, study guide, lectures and recitation classes.  You may click the lecture title to download an outline of the material presented in class.   

 

Day

Date

Lecture Topics and Homework Assignments

Book and Study Guide Section

Book and Study Guide Chapter

Wed

Jan 12

Introduction to the Scope and Method of Economics

  1

Fri

Jan 14

Graphs and Economics

  Appendix 1
    HW:  Chapter 1 Problem Set   - Answers -    
    HW:  Study Guide, Chapter 1, Application Questions 1-11    

Mon

Jan 17

No Class - Martin Luther King Day    

Wed

Jan 19

Scarcity and Choice   2
    HW:  Chapter 2 Problem Set   - Answers -    
    HW:  Study Guide, Chapter 2, Application Questions 1-12    

Fri

Jan 21

Demand and Supply - Part 1   3
    HW:  Study Guide, Chapter 3, Application Questions 1-6    

Mon

Jan 24

Demand and Supply - Part 2   3
    HW:  Chapter 3 Problem Set   - Answers -    
    HW:  Study Guide, Chapter 3, Application Questions 7-11    

Wed

Jan 26

Demand and Supply - Part 3   3
    HW:  Study Guide, Chapter 3, Application Questions 12-17    

Fri

Jan 28

Price System and Rationing    4

Mon

Jan 31

Elasticity - Part 1   4
    HW:  Chapter 4 Problem Set   - Answers -    
    HW:  Study Guide, Chapter 4, Application Questions 1-7    

Wed

Feb 2

Elasticity - Part 2   4
    HW:  Study Guide, Chapter 4, Application Questions 8-13    

Fri

Feb 4

Consumer Choice:  Budget Constraint Micro 5, Appendix 5
    HW:  Chapter 5 Problem Set   - Answers -    
    HW:  Study Guide, Chapter 5, Application Questions 1-5    

Mon

Feb 7

Consumer Choice:  Indifference Curves   5, Appendix 5
    HW:  Study Guide, Chapter 5, Application Questions 6-10    

Wed

Feb 9 

Benefit Maximization and Consumer Demand   5, Appendix 5

Fri

Feb 11

Consumer Surplus, Labor Supply, Saving and Borrowing   5, Appendix 5

Mon

Feb 14

- continued -    
    Review Sheet    
    Old Exam    
    Old Exam Answers    

Wed

Feb 16

Midterm Exam 1   1 - 5

Fri

Feb 18

Firms and Profit Maximization   6

Mon

Feb 21

Profits, Costs and Production   6, Appendix 6
    HW:  Chapter 6 Problem Set   - Answers -    
    HW:  Study Guide, Chapter 6, Application Questions 1-9    

Wed

Feb 23

Production and Costs: Two Variable Inputs   6, Appendix 6

Fri

Feb 25

Short-Run Costs and Output Decisions   7
    HW:  Chapter 7 Problem Set   - Answers -    
    HW:  Study Guide, Chapter 7, Application Questions 1-13    

Mon

Feb 28

Output, Price and Profit and Costs and Output Decisions

  8
    HW:  Chapter 8 Problem Set   - Answers -    
    HW:  Study Guide, Chapter 8, Application Questions 1-6    

Wed

Mar 2

Costs and Output Decisions (continued)

  8
    HW:  Study Guide, Chapter 8, Application Questions 7-13    

Fri

Mar 4

LR Costs and Output and Perfect Competition

  8

Mon

Mar 7

Input Demand         9
    HW:  Study Guide, Chapter 9, Application Questions 1-9      

Wed

Mar 9

General Equilibrium, Efficiency and Market Failure   11
    HW:  Chapter 11 Problem Set   - Answers -    
    HW:  Study Guide, Chapter 11, Application Questions 1-18    

Fri

Mar 11

Cancelled    

Mon

Mar 14

No Class - Spring Break    

Wed

Mar 16

No Class - Spring Break    

Fri

Mar 18

No Class - Spring Break    

Mon

Mar 21

Monopoly     12
    HW:  Chapter 12 Problem Set   - Answers -    
    HW:  Study Guide, Chapter 12, Application Questions 1-7    

Wed

Mar 23

Monopolistic Competition   13
    HW:  Chapter 13 Problem Set   - Answers -    
    HW:  Study Guide, Chapter 13, Application Questions 1-11    

Fri

Mar 25

No Class - Holiday    

Mon

Mar 28 Externalities and Public Goods   14
    HW:  Chapter 14 Problem Set - Answers -    
    HW:  Study Guide, Chapter 14, Application Questions 1-6    
    Review Sheet    
    Old Exam    
    Old Exam Answers    

Wed

Mar 30

Midterm Exam 2   6 - 9, 11 - 14

Fri

Apr 1

Introduction to Macroeconomics Macro 5
    HW:  Chapter 5 - Macro- Problem Set   - Answers -    
    HW:  Study Guide, Chapter 5 -Macro- Application Questions 1-6    

Mon

Apr 4

Measuring National Output and Income   6
    HW:  Chapter 6 - Macro- Problem Set   - Answers -    
    HW:  Study Guide, Chapter 6 -Macro- Application Questions 1-20    

Wed

Apr 6

Growth, Productivity, Unemployment and Inflation   7
    HW:  Chapter 7 - Macro- Problem Set   - Answers -    
    HW:  Study Guide, Chapter 7 -Macro- Application Questions 1-9    

Fri

Apr 8

Aggregate Expenditure and Equilibrium Output   8

Mon

Apr 11

Aggregate Expenditure, Equilibrium Output, and the Multiplier   8
    HW:  Chapter 8 - Macro- Problem Set   - Answers -    
    HW:  Study Guide, Chapter 8, -Macro- Application Questions 1-7    

Wed

Apr 13

Government and Fiscal Policy   9
    HW:  Chapter 9 - Macro- Problem Set   - Answers -    
    HW:  Study Guide, Chapter 9 -Macro- Application Questions 1-8    

Fri

Apr 15

Money Supply and the Federal Reserve System   10
    HW:  Chapter 10 - Macro- Problem Set   - Answers -    
    HW:  Study Guide, Chapter 10 -Macro- Application Questions 1-10    

Mon

Apr 18

Money Demand, Equilibrium Interest Rate, and Monetary Policy   11
    HW:  Chapter 11 - Macro- Problem Set   - Answers -    
    HW:  Study Guide, Chapter 11 -Macro- Application Questions 1-10    

Wed

Apr 20

Money, Interest Rates and Output: Analysis and Policy   12
    HW:  Chapter 12 - Macro- Problem Set   - Answers -    
    HW:  Study Guide, Chapter 12 - Macro- Application Questions 1-6    

Fri

Apr 22

Aggregate Demand, Aggregate Supply, and Inflation   13
    HW:  Study Guide, Chapter 12 - Macro- Application Questions 4-6    

Mon

Apr 25 Aggregate Demand, Aggregate Supply, and Inflation - cont'd   13
    HW:  Chapter 13 Problem Set   - Answers -    
    HW:  Study Guide, Chapter 13 - Macro- Application Questions 1-6    

Wed

Apr 27

- continued -   13

Fri

Apr 29

Question/Answer Session - Anything Covered in the Course    
    Macro Review Sheet    
    Old Macro Questions    
    Old Macro Answers    

Mon

May 9

Comprehensive Final Exam - Noon, Carroll Hall, Room 111

 

All Chapters

 

Copyright © 2005, J. Brad Schwartz.  All rights reserved.