ECON 212. A0. Principles of Macroeconomics. 3 credit hours.

 

Dr. Souren Soumbatiants, MIBS, MS

 

Class meets Tuesdays, Thursdays: 11.00 am – 12.15 pm in DB 310.

 

Office hours: Tuesdays, Wednesdays, Thursdays: 1.30 – 4.00 pm in DB 317. Additional office hours are available upon request.

 

Website: http://vista.acaweb.org

 

e-mail:   soumbat@lmunet.edu

 

Course Objective: to introduce students to the basic concepts in Microeconomic Theory and its applications.

 

Course Materials:

Required Text: Colander, David C. “Economics”, 5th edition, McGraw-Hill/Irwin, 2004.

ISBN 0-07-254902-5

 

Grading:

Your grade in this class will be determined based on your performance on quizzes, assignments, homework, midterm, a class project and a comprehensive final exam:

 

Type

Weight

Due date

Type of questions

Comments

Class participation

5%

n/a

Open

Class discussions

Quizzes

10%

n/a

Multiple choice

Two lowest grades will be dropped

Homework/

Assignments

15%

to be announced

Multiple choice, short problems, and/or case studies

Homework is due at the beginning of the class period. You might receive a partial credit if your homework is late.

Project

20%

April 13, 15 (if needed)

A company’s study

No partial credit will be given if you turn in your project late

Midterm Exam

20%

March 2, regular class hours

Definitions, multiple choice and short problems

Test review will be on February 26

Final Exam

30%

May 4,

10.30 – 12.30

Definitions, multiple choice, an essay and short problems

Test review will be on

April 29

                               

Grading Scale

 

A             90+                                          A-           87-89.9

B+           85-86.9                                    B             80-84.9                                    B-            77-79.9

C+           75-76.9                                    C             70-74.9                                    C-            67-69.9

D+           65-66.9                                    D             60-64.9                                    D-            55-59.9

F              <55

Your overall grade will be lowered by 10 points (one letter grade) if you skip 3 or more class meetings.

 

Students with Disabilities

        Any student with a disability requiring accommodation(s) should make an appointment with the Vice President for Student Affairs (423-869-6393) to discuss specific needs.

 

Calendar (tentative)

Class Date

Topic

Text Assignment

1/13

Introduction

None

1/15

Review

Chapters 1, 2

1/20

Review of Supply and Demand

Chapter 4

1/22

Using Supply and Demand

Chapter 5

1/27

Elasticities

Chapter 6

1/29

Consumer and Producer Surplus

Chapter 7

2/3

Utility Theory

Chapter 8

2/5

Summary

Chapters 1, 2, 4 – 8

2/10

Game Theory Exercise

 

2/12

Production and Cost I

Chapter 9

2/17

Production and Cost I

Chapter 9

2/19

Production and Cost II

Chapter 10

2/24

Production and Cost II

Chapter 10

2/26

Review for the Midterm

Chapters 1, 2, 4 – 10

3/2

Midterm Exam

Chapters 1, 2, 4 – 10

3/4

Market Structure: Perfect Competition

Chapter 11

3/9

Market Structure: Monopoly

Chapter 12

3/11

Market Structure: Oligopoly

Chapter 13

3/16

Market Structure: Applications

Chapter 14

3/18

Antitrust

Chapter 15

3/23, 3/25

Spring Break. No classes

 

3/30

Game Theory Exercise

 

4/1

Labor Market

Chapter 16

4/6

Market Failures

Chapter 18

4/8

Microeconomic Policies

Chapter 20

4/13, 4/15

Presentations

 

4/20

International Trade

Chapter 21

4/22

Game Theory Exercise

 

4/27

Game Theory Exercise

 

4/29

Review for the Final Exam

Chapters 11 – 16, 18, 20, 21

5/4

FINAL EXAM @ 10.30 am

Chapters 1, 2, 4 – 16, 18, 20, 21

 

Academic Integrity

   It is the aim of the faculty of Lincoln Memorial University to foster a spirit of complete honesty and a high standard of integrity.  The attempt of any student to present as her/his own any work which he/she has not honestly performed is regarded by the faculty and administration as a very serious offense and renders the offender liable to severe consequences and possible suspension.

        1.   Cheating: dishonesty of any kind on examinations or written assignments, unauthorized possession of examination questions, the use of unauthorized notes during an examination, obtaining information during an examination from another student, assisting others to cheat, altering grade records, or illegally entering an office are instances of cheating.

        2.   Plagiarism: offering the work of another as one’s own without proper acknowledgment is plagiarism; therefore, any student who fails to give credit for quotations or essentially identical material taken from books, magazines, encyclopedias, web sources or other reference works, or from the themes, reports, or other writing of a fellow student has committed plagiarism.

Academic Grievance Procedure

        Grievances concerning any aspect of academics should first be taken to the instructor of the class if a classroom situation is in dispute.  If a student feels he/she needs to take the matter further, the chair of the department offering the course should be consulted.  The next appeal source is the Dean, College of Undergraduate Studies. A final decision may be rendered by the Vice President for Academic Affairs and Provost. If the dispute involves an academic program, the academic advisor or the chair of the department should be consulted first.