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Analysis of Markets

COURSE OUTLINE
COMM 220 BB • F AL L 2015
Gregory Lypny
gregory.lypny@concordia.ca • pareto.concordia.ca
MB 11.307 • (514) 848-2424 ext. 2794

Lecture every Tuesday, 5:45 p.m. to 8 p.m. in MB 2.210
Office hours by appointment every Friday from 2 p.m. to 3 p.m.
Tutorial every Friday from 3 p.m. to 4 p.m. in MB 2.285

COMM 220 BB • Fall 2015

Course Outline

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in-class. The goal is to get you thinking about economics scientifically.About COMM 220 Analysis of Markets is an undergraduate economics course that looks at some of the benefits and problems of capitalism through the functioning of its markets.. the weight will be added to the final exam. multiple-choice. Plagiarism or any other kind of cheating will not be tolerated. W. The textbook is recommended but not required because I don’t teach from a textbook.
 COMM 220 BB • Fall 2015 Course Outline Page 2 ! of 7 ! . The difference between Markets and other introductory microeconomics courses is that we’ll flip back and forth between markets for real goods and financial goods.W. class notes. Intermediate Microeconomics: A Modern Approach. Textbook Varian. Course materials You can get all of the materials for this course. topics 1 through 5
 Tuesday. You must pass the final exam (a grade of 50%) in order to pass the course. 2014. Late submissions of the assignment will not be accepted.. The premise is that having choice is good—freedom in the bigger context—as it applies to trade. Code of Conduct Read about academic integrity and the code of conduct. Grading Test Assignment Final exam 35% 10% 55% Tuesday. a set of readings. upload to Moodle
 Same format as the test There is no makeup for the test. New York. 2015. 2015 by 5 p. ISBN 0-393-97830-3. November 15. Norton and Company. Check the cubby regularly. except for the readings. Homework Ten quizzes and miscellaneous exercises will be posted for you to work on. if you don’t write it. market experiments. Hal R. homework quizzes. October 27. 9th Edition. from my cloud cubby. Earlier editions are okay too. and sometimes. Our discussions will draw on economic theory.m. Software Install Wolfram Mathematica from the MyConcordia portal or Wolfram’s CDF Player app.

381(8509):13. May 10. 2006. and Ernst Fehr. “The Endowment Effect. 118126.” Harvard Business Review. H. Roth. 5(1):193-206.” Journal of Economic Perspectives. Gode. 14 to 16. and Status Quo Bias. 30. E. Don and Ross Douthat. “When Does ‘Economic Man’ Dominate Social Behavior.” Fortune. Colin F. 3. Welfare and general equilibrium (1 lecture) Chapters 6 to 9. November 4. “From Homo Economicus to Homo Sapiens.. Loss Aversion. Jack L. 2006.” Journal of Economic Perspectives. 1997. March 21. COMM 220 BB • Fall 2015 Course Outline Page 3 ! of 7 ! . 151(6):202. Peck.” The Economist.” Science. 384(8540):67. D. “Economics Discovers Its Feelings. and Richard H. Utility Theory (1½ lectures) Chapters 1 to 5 in Varian. 112(2): 603-630. 14(1):133-141. 2. and S.” The Economist. 291(1):42. “What Makes Markets Allocationally Efficient?” Quarterly Journal of Economics. “Utility Maximization and Experienced Utility. 2003. “Winds of Change. and 32 in Varian. Camerer. Richard. 2000.Topics 1.(8323):82.” Journal of Economic Perspectives. 311:47-52. 1991. Thaler.” The Economist. “Behaviourists at the Gate.” The Economist. “Why Johnny Can't Save for Retirement. “Blatant Benevolence and Conspicuous Consumption. 2006. January-February 2003. Thaler. Kahneman. “Does Money Buy Happiness?” The Atlantic. 381(8502):102.” The Economist. Daniel. December 23. “The Art of Designing Markets. 2006. Thaler. 20(1):221-234. 381(8509):35. 2006. August 4. 2005. Knetsch. October 2007. December 23. Daniel and Richard H. Building economic models (1 lecture) Kahneman. “Happiness (and How to Measure It). Sunder.. 367. Alvin. 2007.

4(2):55-65. 370(8363):80 [Special report on mergers and acquisitions].” The Economist. ”Anomalies: Seasonal Movements in Security Prices II: Weekend.” The Economist.” Journal of Economic Perspectives.” The Economist. October 6. “How Far is Down?. 365(8299):86. February 21. 354(8163):84. 2004. and Intraday Effects. 1(2): 169-177. Galbraith. 2002. 3(1):189-202. February 21. 1994. 60(1):15-25. September 9. Thaler. Elroy. 367(8330):9 [Survey]. “The 1929 Parallel. “The New Jobs Migration.” Journal of Economic Perspectives. “Dismal Science. 1987. “To Infinity and Beyond. “How to Pay Bosses. 2006. July 27. 370(8363):11.” The Economist. August 7. 1(1): 197-201. COMM 220 BB • Fall 2015 Course Outline Page 4 ! of 7 ! . Dismal Sentence. Cynthia. Turn of the Month. De Bondt. Shiller. February 21. November 16. 2000.” The Economist. The Economist. Werner and Richard H. March 25. 2004. 1990.” The Economist." Journal of Economic Perspectives. Anomalies: A Mean-Reverting Walk Down Wall Street. 2002. and 31 in Varian. Dimson. 2004.” Financial Analysts Journal. “The Great Hollowing-Out Myth. 364(8283):76.4. 370(8363):48. June 28.” The Economist. 5. Richard. 19. Paul Marsh.” Journal of Economic Perspectives. “Irrational Optimism. John K.” The Economist. ”Anomalies: The January Effect. 380(8494):90. 385(8549):100. 259(1):62-66. Thaler. and Mike Staunton. Robert." Journal of Economic Perspectives. 372(8387):73. Richard. Production and finance (1 lecture) Chapters 18. Thaler. 1987. “When Battles Commence. Holiday. 2007. Information (two lectures) Chapters 11 through 13 in Varian. 2003. 2004. “Corporate Diversification. “Speculative Prices and Popular Models. “Beyond Shareholder Value. “Bubble Bubble.” The Economist. “1989. 8(3):163-178. 2004. January 1987.” The Atlantic. “Access all Areas”. Montgomery..

May 3. “Signal Failure. 362(8263):92. COMM 220 BB • Fall 2015 Course Outline Page 5 ! of 7 ! . “Pro-market. 12(3):69-88. July 31.” The Economist. 2001.” 1999. Market failure (1 lecture) Chapters 35 and 36 in Varian. May 11. 372(8388):57. 2006.” The Economist. “A Simple Lesson in Economics.” Journal of Economic Perspectives. 367(8322):83. 2003. March 7. 2006. “An Eye for an A.” The Economist. 360(8237):27. “A Matter of Degrees. 2004. September 1.6. 2004. 7. The Sciences. “In Higher Education. 367(8330):12. “A Great Leap Forward. 39(1):30-33. December 11. 2002.” The Economist. “What Can We Learn from the Grand Policy Experiment?: Lessons from SO2 Allowance Trading. February 14. 367(8321):66. Robert. 372(8386):61.” The Economist. “On the Same Wavelength.” The Economist.” The Economist. “Make 'em Pay. 363(8272):105. “D-graded. 2006. July 2005.” The Economist. October 26. “Patent Absurdities. June 28.” The Atlantic. “Scholars for Dollars. Shulman. 1998. Not Pro-business.” The Economist. “The Avuncular State — Libertarian Paternalism. 2002.” The Economist. 366(8309):49. 379(8472):76 [Special report].” The Economist. “Genetic Patent Singles Out Jewish Women. 381(8501):8 [Survey: Lessons from the Campus]. Government intervention (1 lecture) Chapter 6 in Varian.” The Economist. “Stopping Spam. Stavins. August 14. 2004. Crook.” Nature. 370(8362):74. April 26. 298(4):25. 2004. 2003. 2006. October 28. Clive.” The Economist. November. “Doing Well and Doing Good. A Free-for-all Does not Work. “A Blunt Instrument (The Minimum Wage). April 8. 373(8405):69. Seth. 2003. February 1. 2003.” The Economist.

“Trade Winds. “Doomsday Derivatives. 361(8247):104. “Anomalies: Foreign Exchange. “Heuristics and Biases in Retirement Savings Behavior. and Mental Accounts. International markets (1 lecture) Froot. 21(3):81-104. 2003. time permitting) Chapters 11 through 13 in Varian. 2003. “Home Truths. May 27. “Living in Never-never Land. “McCurrencies. 4(1):193-205. November 8.” The Economist. October 19. 9. “Anomalies: Savings. 379(8479):94. 366(8316):91. Benartzi. 2006. March 22. Kenneth and Richard H.” The Economist. Thaler. Markets for risk (1½ lectures. 4(3):179-192. 2005. Fungibility. November 10. “Risk Management for the Masses.8.” The Economist. Richard. Intertemporal markets (1½ lectures) Chapter 10 in Varian. 1990. 2002.” Journal of Economic Perspectives. 1990. Shlomo and Richard Thaler. COMM 220 BB • Fall 2015 Course Outline Page 6 ! of 7 ! . [reprise] 10.” Journal of Economic Perspectives. 2001. 345(8042):85. March 21. 366(8306):70. “Why Johnny Can’t Save for Retirement. January 11.” The Economist.” The Economist.” Journal of Economic Perspectives. 1997. 2007. 365(8295):95.” The Economist. Thaler.” Fortune.

A+ 90% and above A 85 to 89% A- 80 to 84% B+ 77 to 79% B 73 to 76% B- 70 to 72% C+ 67 to 69% C 63 to 66% C- 60 to 62% D+ 57 to 59% D 53 to 56% D- 50 to 52% F Less than 50% Letters of Recommendation Maybe. COMM 220 BB • Fall 2015 Course Outline Page 7 ! of 7 ! . if you have done a project under my supervision or who have worked for me as a teaching or research assistant. which would leave your numerical grade rank in the class unchanged but might change your letter grade rank.Other Information Grade Conversion I reserve the right to adjust the class average by adding or deducting the same fixed amount from everyone’s grade.