Introduction to Microeconomics: Eco 304K- Fall 2020
Unique Numbers: 33580 & 33585
Instructor: Helen Schneider, Ph.D.
Office: BRB 3.116
Office Phone: 471-1734
E-mail: h.schneider@eco.utexas.edu
Lecture recordings: MWF
Lecture Uploads: Lectures Online
Zoom Office Hours: TTh 1-2:00 p.m.
or by appointment
Teaching Assistants: TBA
COURSE SYNOPSIS: This course will introduce you to the basic tools of
microeconomic theory necessary to analyze contemporary economic problems and their
proposed solutions. In particular, the role of the price system in determining production,
consumption, and the distribution of income will be analyzed. We will also develop an
awareness of the strengths and weaknesses of markets and of the government's
intervention in the market process.
QUANTITATIVE REASONING: This course carries the Quantitative Reasoning flag.
Quantitative Reasoning courses are designed to equip you with skills that are necessary
for understanding the types of quantitative arguments you will regularly encounter in
your adult and professional life. You should therefore expect a substantial portion of your
grade to come from your use of quantitative skills to analyze real-world economic
problems.
COURSE MATERIALS:
Required Text: N. Gregory Mankiw. Principles of Microeconomics, 2021, Cengage, 9th
Edition.
The materials required for this course (and any other courses using Cengage products) are
included in ONE Cengage Unlimited subscription. Ask for Cengage Unlimited in the
bookstore or visit cengage.com/unlimited.
Additional Reading: The only way we can make the theory meaningful to 'real life' is to
know something about the real world. Therefore, additional reading includes a good
newspaper (e.g. Wall Street Journal, New York Times), or a relevant newsmagazine (e.g.
The Economist).
Website: Course material will be on the university’s Canvas system. All lectures and
handouts will be posted on Canvas and available to students on-demand. This class will
also use the Grades feature of Canvas so that students can keep track of their scores on
assignments and exams.
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POLICY ON STUDENTS WITH DISABILITIES
The University of Texas at Austin provides upon receipt appropriate academic
adjustments for qualified students with disabilities. For more information, contact the
Office of the Dean of Students—Services for Students with Disabilities, 471-6259.
SCHOLASTIC DISHONESTY POLICY
Students who violate University rules on scholastic dishonesty are subject to disciplinary
penalties, including the possibility of failure in the course and/or dismissal from the
University. Since such dishonesty harms the individual, all students, and the integrity of
the University, policies on scholastic dishonesty will be strictly enforced.
COURSE REQUIREMENTS:
Tests. There will be two midterm tests during the semester and a comprehensive final
examination. There will be no make-ups for the midterm exams. Should dire
circumstances (e.g. illness) prevent you from taking a test, its weight will be added to
your final exam.
Homework. Thirteen out of fourteen problem sets will count towards your final grade.
For each of the chapters covered there will be a number of questions that you will answer
in the Aplia homework program available in Mindtap. For each question you can have up
to 3 attempts and you will receive the average for the attempts you make.
Grading: Aplia Homework = 15%; Midterm Exams = 25% each; Final = 35%. If you
believe that your exam was incorrectly graded, you may request a re-grade. Note that the
entire test will be re-graded, and may result in a lower grade. You have 2 weeks from the
date that the exam is handed back in order to submit your request.
A letter grade will be assigned based on your weighted course average score and your
performance relative to the rest of the class. Letter grades include A, A-, B+, ... , D, D-, F.
COVID Caveats: To help keep everyone at UT and in our community safe, it is critical
that students report COVID-19 symptoms and testing, regardless of test
results, to University Health Services, and faculty and staff report to the HealthPoint
Occupational Health Program (OHP) as soon as possible. Please see this link to
understand what needs to be reported.
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READINGS AND COURSE OUTLINE
This is only a suggested outline and is subject to change, unlike the exam dates, which are fixed.
Topic
Wednesday, August 26
Introductions and Syllabus
Mankiw - Chapter 1. Ten Principles of Economics
Friday, August 28
Mankiw - Chapter 2. Appendix. Algebra Review (pp. 37-45)
Monday, August 31
Mankiw - Chapter 4. The Market Forces of Supply and Demand
Wednesday, September 2
Mankiw - Chapter 5. Elasticity of Supply and Demand
Friday, September 4
Recitation: Supply and Demand; Elasticity
Monday, September 7
LABOR DAY HOLIDAY
Wednesday, September 9
Mankiw - Chapter 6. Supply, Demand, and Government Policies
Friday, September 11
Recitation: Elasticity, Government Policies
Monday, September 14
Mankiw - Chapter 21. The Theory of Consumer Choice
Wednesday, September 16
Mankiw - Chapter 21. The Theory of Consumer Choice
Friday, September 18
Recitation: The Theory of Consumer Choice
Monday, September 21
Mankiw - Chapter 7. Consumers, Producers and the Efficiency of
Markets
Wednesday, September 23
Mankiw - Chapter 8. Application: The Costs of Taxation
Friday, September 25
Exam I review
Monday, September 28
Exam 1
Wednesday, September 30
Mankiw - Chapter 10. Externalities
Friday, October 2
Catch-up and review
Monday, October 5
Recitation: Externalities Mankiw - Chapter 11. Public Goods and
Common Resources
Wednesday, October 7
Mankiw - Chapter 13. The Costs of Production (short-run)
Friday, October 9
Recitation: Public Goods and the Costs of Production
Monday, October 12
Mankiw - Chapter 13. The Costs of Production (long--run)
Wednesday, October 14
Mankiw - Chapter 14. Competitive Markets
Friday, October 16
Recitation: Costs of Production and Perfect Competition
Monday, October 19
Mankiw - Chapter 14. Competitive Markets
Wednesday, October 21
Mankiw - Chapter 15. Monopoly
Friday, October 23
Recitation: Competitive Markets and Monopoly
Monday, October 26
Mankiw. Chapter 15. Antitrust
Wednesday, October 28
Mankiw - Chapter 16. Monopolistically Competitive Markets
Friday, October 30
Exam 2 Review
Monday, November 2
Exam 2
Wednesday, November 4
Mankiw - Chapter 17. Oligopoly
Friday, November 6
Recitation: Oligopoly
Monday, November 9
Mankiw - Chapter 18. Markets for the Factors of Production: Labor 361374
Wednesday, November 11
Mankiw-Chapter 19. Earning and Discrimination
Friday, November 13
Recitation: Labor Markets
Monday, November 16
PPF (Chapter 2, p. 24-27)
Mankiw-Chapter 3. Interdependence and the Gains from Trade
Wednesday, November 18
Mankiw-Chapter 3. Interdependence and the Gains from Trade
Friday, November 20
Recitation: International Trade
Monday, November 23
Mankiw-Chapter 9. International Trade
Wednesday, November 25
THANKSGIVING HOLIDAY
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Friday, November 27
Monday, November 30
Wednesday, December 2
Friday, December 4
Monday, December 7
THANKSGIVING HOLIDAY
Mankiw-Chapter 20. Income Inequality and Poverty
Mankiw-Chapter 12. Design of the Tax System
Review
Review
***Final Exam***
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