Department of Economics
Summer B, 2006
Course: EC 204-B01 - Principles of Microeconomics
6:05-9:25 p.m. – MW
Instructor: Dr. John Blair
Office: 260 B Rike
Office Hours: 2:00-3:00 MWF and by appointment
Text: Colander, Microeconomics, 6th Edition, Irwin/McGraw Hill.
II. Course Objectives and Description:
This course will serve as an introduction to economics and a more in-depth view of microeconomics—supply and demand, elasticity, market structures, behavior in markets for factors of production, market failure and the role of government.
III. Evaluation Policy
Due to the summer time crunch, there will be only two exams as shown on the syllabus. I may provide a curve on the exams. The curve will be based on overall class performance and your participation. The curve will be designed to boost the scores of the top performers. Those students with very weak performance will receive no help from the curve.
Week 1 (July 17-23) Introduction Colander, ch 1, 3, 4
Economics and Economic Reasoning
Supply and Demand
Week 2 (July 24-July 30) Using Supply and Demand Colander, ch. 5, 6
in Today’s World
Using Supply and Demand
Price Elasticity of Demand
Week 3 (July 31-Aug 6) Market Structure and Policy Colander, ch 11, 12, 13
Monopolistic Completion, Oligopoly and Strategic Pricing
Week 4 (Aug 7-Aug 13) Factor Markets Colander, ch 16, 17
Land, Labor, and Capital
The difference between the mean (average) income and the median (middle) income.
Week 5 (Aug 14-16) Government and Market Failure Colander, ch. 18
Final—60% - Aug 16th