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Intermediate Microeconomic Theory Katherine M. Sauer, Ph.D. ECO 3010 AD 530-R 303-556-3037 Fall 2012 ksauer5@msudenver.

edu ____________________________________________________________________________________ This course analyzes production, price, and distribution theory within a microeconomic framework. Studies include value and distribution theories under conditions of varying market structures. Topics will also include consumer theory, competitive, oligopoly, and monopoly pricing and output behavior, as well as pricing of factors of production and welfare theory. ____________________________________________________________________________________ Course Learning Objectives At the end of the semester, the successful student should be able to: 1. Apply fundamental economic concepts such as positive/normative analysis, tradeoffs, opportunity cost, scarcity, and incentives to real world issues and problems. 2. Use the concept of equilibrium and price allocation to explain observed market outcomes and to predict outcomes from changes in the marketplace. 3. Perform marginal analysis and constrained optimization in both the individual and firm contexts. 4. Use models to explain observed or predicted outcomes (including summarizing theory using equations, solving systems of equations, and demonstrating graphically). Specific models for this course: Supply & Demand, Consumer Choice Theory, Theory of the Firm, Cost Theory, Market Structures, General Equilibrium Theory 5. Explain the mechanics of and predict the outcomes of common government policies and interventions in markets. 6. Explain market failure and evaluate potential solutions.

____________________________________________________________________________________ Course Learning Activities Assignments Quizzes Exam 1 Exam 2 Exam 3 20% 5% 25% 25% 25% (daily) (weekly) (9/20) (10/25) (date TBA during finals week)

Course Resources Required Textbook Title: Microeconomics Edition: 4th Edition Authors: David Besanko & Ronald R. Braeutigam Publisher: John Wiley & Sons ISBN: 978-0-470-56358-8 Office Hours are a resource to assist you outside of our class time. You do not need an appointment to see me during office hours please just stop by. You may make an appointment in advance to see me during other days. Please note my schedule for this fall. Day Time 10-12 12 1:30 2-3:15 3:30-4:45 Tuesdays Wednesdays Office Hours Office Hours AD 530-R Principles of Micro KC 203 Intermediate Micro KC 203 AD 530-R Office Hours AD 530-R Principles of Micro KC 203 Intermediate Micro KC 203 Thursdays

My office is located in the Administration building (AD) in room 530-R.

__________________________________________________________________________________ Course Policies Economics Major This course counts toward the economics major requirement. You must pass this course with a C or better. Note: With the new +/- grading in effect for Fall 2012, a C- is not sufficient! ___________________________________________________________________________________ Prerequisites Satisfaction of both: - a grade of C or better in ECO 2150 or MTH 1410 - ECO2020 ___________________________________________________________________________________ Missed Assignments and Exams Assignments: Late homework is accepted at a penalty at the instructors discretion. Exams: Make up exams are only given in grave extenuating circumstances. ___________________________________________________________________________________

Course Grading Scale 92.5% to 100% 89.5% to 92.4% 86.5% to 89.4% 82.5% to 86.4% 79.5% to 82.4% 76.5% to 79.4% 72.5% to 76.4% 69.5% to 72.4% 66.5% to 69.4% 62.5% to 66.4% 59.5% to 62.4% 59.4% and below A AB+ B BC+ C CD+ D DF

____________________________________________________________________________________ Email Please use your @msudenver email address when emailing me. If you do not, you run the risk of my email filter program deciding that your message is spam. Additionally, due to Federal privacy regulations, I cant discuss any grade-related information via email unless you use your official university account. Please do not use the email feature in BlackBoard/Web CT to email me. Write directly to me at . (In the past messages sent through that system had frequently gotten lost.) Please try to use proper sentences and punctuation when writing to me. I am getting older by the day and cant always figure out what your short-hand abbreviations are trying to say ___________________________________________________________________________________ Religious Holidays Students at MSU Denver who, because of their sincerely held religious beliefs, are unable to attend classes, take examinations, participate in graded activities or submit graded assignments on particular days shall without penalty be excused from such classes and be given a meaningful opportunity to make up such examinations and graded activities or assignments provided that advance written notice that the student will be absent for religious reasons is given to the faculty members during the first two weeks of the semester. Nothing in paragraph 1 of this policy shall require MSU Denver faculty members to reschedule classes, repeat lectures or other ungraded activities or provide ungraded individualized instruction solely for the benefit of students who, for religious reasons, are unable to attend regularly scheduled classes or activities. However, presentations, critiques, conferences and similar activities involving individual students shall be scheduled to avoid conflicts with such students religious observances or holidays provided that reasonable advance notice of scheduling conflicts is given to faculty members. Because classroom attendance and participation is an important aspect of learning, MSU Denver students should not register for courses if regularly scheduled classes or activities routinely conflict with their religious observances or holidays (e.g., conflicts resulting in weekly absences for an entire semester). 3

No Credit (NC) Grades During the first 10 weeks of class, you may opt for NC through MetroConnect online. You do not need a signature from me. After the 10th week, I do not have authorization to grant you a NC. The Fall 2012 NC deadline is Monday October 29th. ____________________________________________________________________________________ Academic Integrity As students, faculty, staff and administrators of Metropolitan State University of Denver, it is our responsibility to uphold and maintain an academic environment that furthers scholarly inquiry, creative activity and the application of knowledge. We will not tolerate academic dishonesty. We will demonstrate honesty and integrity in all activities related to our learning and scholarship. We will not plagiarize, fabricate information or data, cheat on tests or exams, steal academic material, or submit work to more than one class without full disclosure. For more information: /academicintegrity/ ___________________________________________________________________________________ Student Code of Conduct Metropolitan State University of Denver has a Student Conduct Code and every student is expected to be familiar with it Available online: /studentcodeofconduct/ _________________________________________________________________________________ Disability Accommodations The Metropolitan State University of Denver is committed to making reasonable accommodations to assist individuals with disabilities in reaching their academic potential. If you have a disability which may impact your performance, attendance, or grades in this class and are requesting accommodations, then you must first register with the Access Center, located in the Auraria Library, Suite 116, 303-5568387. The Access Center is the designated department responsible for coordinating accommodations and services for students with disabilities. Accommodations will not be granted prior to my receipt of your faculty notification letter from the Access Center. Please note that accommodations are never provided retroactively (i.e., prior to the receipt of your faculty notification letter.) Once I am in receipt of your official Access Center faculty notification letter, I would be happy to meet with you to discuss your accommodations. All discussions will remain confidential. Further information is available by visiting the Access center website ____________________________________________________________________________________

Academic Calendar / Important MSCD Dates Last day to drop with 100% tuition refund: No classes, Labor Day: Last day to drop with 50% tuition refund and course deleted from transcript: Last day to drop with NC grade: No classes, Fall Break: Final exam week: Grades available online:

Sunday August 26th Monday Sept. 3rd Wednesday Sept. 5th Monday Oct. 29th Nov 19th Nov 23rd Dec 10th 14th Friday Dec. 21st

Note: Registration for all Economics courses closes at midnight Thursday, August 23 (that is, 12:00am Friday August 24th). There will be no exceptions for those wishing to add a class or switch sections. ____________________________________________________________________________________ Course Schedule (subject to revision as necessary)

Week beginning:



8/26 last day to drop with full refund 9/5 last day to drop with 50% refund

8/20 8/27 9/3 9/10 9/17 9/24 10/1 10/8 10/15 10/22 10/29 11/5 11/12 11/19 11/26 12/3 12/10

Analyzing economic problems, Demand & Supply Consumer preferences, Consumer Choice Consumer Choice, Theory of Demand Theory of Demand Review day, Exam 1 (ch 1-5) Inputs and Production, Cost minimization Cost minimization, Cost curves Cost curves, Perfectly competitive markets Perfectly competitive markets, Applications Review day, Exam 2 (ch 6-11), Monopoly & Monopsony, Capturing surplus Capturing surplus, Market structures & competition Market structures & competition No Class Fall Break Game theory, General equilibrium theory Externalities & Public goods, Review day (Finals Week) Exam 3 (1 17)

1, 2 3, 4 4, 5 5

Exam 1 on 9/20 6, 7 7, 8 8, 9 9, 10
Exam 2 on 10/25

11, 12 12, 13 13 14, 16 17

10/29 is NC Deadline

Exam 3 Date TBA