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Economics 2106: Principles of Microeconomics

Spring 2023

Dr. Morgan Taylor

Fully In-Person Course (Zoom attendance is not an option)

General Information

Class Days: Monday, Wednesday, Friday

Time and Location:

CRN 23127: 1:50-2:40 pm in Ivester E001

CRN 23128: 3:00-3:50 pm in Ivester E001

I listed time/location information for both sections,  but you

only need to pay attention to information for your section.

Professor: Morgan Taylor

Email: [email protected] (use this email -  do not message me via the course eLC )

Office Location: Amos Hall B434

Office Hours:

Wednesday    (12:00 - 1:00 pm)  Zoom + Amos B434

Friday           (4:15 - 5:15 pm)    Zoom + Amos B434

By appointment if you cannot attend office hours

(or if you have something of a personal nature to discuss)

Teaching Assistant: Isabella Yerby

Email: [email protected]

Office Hours:

Tuesday      (1:00 - 2:00 pm) Zoom only

Thursday    (2:00 - 3:00 pm) Zoom only

Undergrad Assistants: Jaden Karwoski; Sophie Maxwell; Nathaniel Lemons; Lynn Huynh;

Noah Amsterdam; Alex Womack

Office Hours:

Jaden: (Mon. 5-7pm) (Wed. 4-5pm)

Sophie: (Thur. 5-6:30pm) (Fri. 11:30-1pm)

Nathaniel: (Mon. 10-11:30am) (Wed. 10:30-12pm)

Lynn: (Mon. 3-5pm) (Fir. 9-10am)

Noah: (Tues. 4-6pm) (Thur. 4-5pm)

Alex: (Mon. 1-3pm) (Tues 2-3pm)

See the last page for office hour grid listing ALL office hours (Dr. Taylor’s, Isabella’s, as well as all under- graduate assistant hours).

Course Materials

Required: A subscription to Top Hat (see instructions on page 6)

Recommended: Microeconomics, 13 edition. Michael Parkin. ISBN: 9780134744476

Prerequisites

There are no prerequisites.  However, please be aware that this is NOT what is considered an easy A” course and is likely very different from the economics you may have had in high school. Remember, this is  a college course.  While this is only an introductory course, we will examine concepts in a more in-depth  manner than a typical high school economics course.

Course Description

Principles of Microeconomics is designed to familiarize students with the language common to economics, as well as to teach an elementary ability to analyze various microeconomic problems commonly found in our economy and society.  The models and theories studied in this class will help the student understand how producers can best allocate scarce resources to produce goods and services. Likewise, the student will gain insight into what drives consumers to give up resources to obtain goods and services produced by others. Upon completion of this course, the student should be able to apply economic modeling tools both to business situations and to problems and situations from everyday life. The student will find that the tools of economic reasoning are extremely useful in a multitude of everyday situations that require decisions on how to allocate time and resources.

Course Expectations

Attending lectures, diligently doing homework, and reading along from the text will help you achieve course mastery (a B or higher). Lectures and assignments are designed to work together to help you succeed (i.e. doing just one will make it difficult to obtain a satisfactory grade). We move through material quickly, and, as economics is an inherently cumulative subject, it is in your best interest to stay current with the lecture material.

Grade Breakdown

Homework 15%

Exam 1 20%

Exam 2 20%

Exam 3 20%

Final Exam 25%

A+ 99% - 100%

B+    87% - 89% C+

77% - 79%    D

60% – 69%

A 93% - 98%

A- 90% - 92%

B 83% - 86%    C

B-     80% - 82% C-

73% - 76%    F

70% - 72%

Below 60%

Normal rounding-rules apply:  92.5% will be rounded up to 93%, while 92.4% is rounded down to 92%. Note the‘A+’is only for my personal reference which only becomes relevant if I ever write you a letter of recommendation. Any grade equal to or above 93% will be entered as an‘A’for the UGA Registrar.

Homework

Homework will be submitted online through Top Hat. Students will submit assignments by the specified due date/time.  Late homework assignments will not be accepted. The two lowest homework grades will be dropped at the end of the semester.

Homework will be assigned almost every week to help you review that week’s lecture and textbook content. The homework questions will mostly be multiple choice and numerical fill-in-the-blank.  While no partial credit will be given for an incorrect homework question, students will have 2 tries per question.  Students are also free to work together on the homework assignments.

Most homework assignments will be due midnight on Sunday, with a few deviations from this schedule during exam weeks which I will announce on the course eLC.

A bit of advice for homework:

Since the homework assignments are lengthy and students get 2 tries per question, I suggest students do the homework over multiple days. Furthermore, if you get a question wrong on the first attempt, then COME TO OFFICE HOURS for help or spend time reviewing your notes/textbook before immediately using the second (and final) attempt for a given question.

Exams

All exams are required.  The final exam does NOT replace any previous exam scores.  All exams will be administered online (via Top Hat), and are open book/open notes. Students will NOT work together on any exam. Exams are multiple choice, with a combination of numerical, definitional, and graphical interpretation questions.

For exams 1-3, the exam window will be open for 12 hours, 6:00am - 6:00pm. Once you open your exam on Top Hat, your personal exam timer will start (53 minutes), and Top Hat exam will close your exam when your timer runs out. Note, you must complete your exam by 6:00pm. If you open your exam on Top Hat at 5:55pm, then your exam will be automatically closed at 6:00pm (so don’t do this!).

For the final exam, since each section has a different final exam time assigned by the University, I will open the final exam at 6:00am on Wednesday, May 3rd and close the final exam window at 6:00pm on Monday, May 8th. You can take the final exam on Top Hat at any time during this six-day window, just make sure your exam is complete by 6:00pm on May 8.

The details of each exam (i.e., the questions and answers) will be made visible on Top Hat after every student has completed the exam - this includes students taking the make-up exam. Thus, exam details typically are not released on Top Hat until 3-4 days after the original exam date.  Once the exam details are released, I suggest you take some time to review the questions you missed since the final exam is cumulative and the concept will likely reappear.

Exam Dates

Exam 1:      Exam 2:      Exam 3:      Final Exam:

Monday, February 6 (6:00am-6:00pm)      Ch 1-3

Wednesday, March 15 (6:00am-6:00pm)    Ch 4-6, 16, 17

Wednesday, April 19 (6:00am-6:00pm)      Ch 8-12

6:00am May 3 - 6:00pm May 8                 Ch 13 & 15 + Cumulative

In the event you think I have made a grading error for exams 1-3, you may request a regrade, but this request must be made within one week of the posting of your exam grade. The procedure for requesting a regrade is to email a typed petition detailing the supposed grading error for each exam question you are contesting, and a careful justification for why your problem deserves a different grade.  Pictures from your phone are sufficient so long as they are legible.

Make-up Exam Policy:

What if I become ill or an emergency occurs the day of the exam?

• Notify me as soon as possible.  There will be a make-up exam scheduled.  If you are unable to take the make-up exam (for a valid reason) then your score for this exam will be replaced at the end of the semester by a score that reflects the average of your other exams scores, and your Final Exam score.

There is no make-up exam for the Final exam because there is already flexibility regarding the exam time/day given the four-day final exam completion window.

Extra Credit

There is no extra credit for this course.  There are two main reasons for this.  First, part of the challenge of this course is to utilize the established number of opportunities to earn your desired grade (i.e.  weekly homework, three exams, and one final exam).  This encourages students to put their full effort into each assignment and exam throughout the entire semester. If you believe that your homework and exam grades early in the semester are not putting you on track to earn your desired grade, then please reach out to me so we can discuss study strategies and devise a study plan to help put you back on track. Second, I already give all students a grade ‘bump’by dropping the two lowest homework scores at the end of the semester, which is why there is no additional‘bump’in the form of extra credit.

Emails

Be specific when you send me emails. I have almost 800 students spread over four classes doing many different  homework assignments, so do NOT just say, ”I’m having trouble with number 6....”. Tell me which course  of mine you are enrolled in - ECON 2106.  All emails to me MUST include your name and ‘ECON 2106’ or they will not be answered, and ideally reference the exact homework and question number (or concept)  you are asking about.  Emails must be professional and grammatically correct, including punctuation and  capitalization. Because I get so many emails, replies to questions I have already addressed in class or on my  syllabus are rare.

Students with Disabilities (DRC)

If you need classroom/testing accommodations for a disability, contact me outside of class and provide me with a memorandum of accommodation from the Disability Resource Center  (DRC). Students can register for accommodation here https://drc .uga .edu/content_page/register-for- services. Acquir- ing documentation from DRC requires the following information https://drc .uga .edu/content_page/ documentation-guidelines.  These requests must be submitted to me at least 2 WEEKS in advance of your need. No accommodation is final until I, as the instructor, have authorized it.

Academic Integrity

Academic Dishonesty will not be tolerated,  and as a student at the University of you have agreed to abide  by the  University’s  academic  honesty  policy  and the  Student  Honor  Code.   All  academic work must meet the standards described in A  Culture of Honesty” found at:   https://honesty .uga .edu/ Academic-Honesty-Policy/ .  Any cheating will be dealt with in accordance with the University policy, and at minimum you can expect a zero on the assignment or test.

Mental Health and Wellness Resources

If you or someone you know needs assistance, you are encouraged to contact Student Care and Outreach in the Division of Student Affairs at 706-542-7774 or visit https://sco .uga .edu.   They will help you navigate any difficult circumstances you may be facing by connecting you with the appropriate resources or services.

UGA has several resources for a student seeking mental health services https://www.uhs.uga.edu/bewelluga/ bewelluga or crisis support https://www .uhs .uga .edu/info/emergencies.

If you need help managing stress, anxiety, relationships, etc., please visit BeWellUGA https://www .uhs . uga.edu/bewelluga/bewelluga for a list of FREE workshops, classes, mentoring, and health coaching led by licensed clinicians and health educators in the University Health Center.  Additional resources can be accessed through the UGA App.

Week-to-Week Course Schedule (tentative)

The course syllabus is a general plan for the course; deviations announced to the class by the instructor may be necessary.

Week 1

Jan. 9, 11, 13

Syllabus, Chapter 1

Week 2

Jan. 16, 18, 20

no class Jan.16; Chapter 2

Week 3

Jan. 23, 25, 27

Chapter 2; Chapter 3

Week 4

Jan. 30, Feb. 1, 3

Chapter 3; catch up & review

Week 5

Feb. 6, 8, 10

Exam 1; Chapter 4

Week 6

Feb. 13, 15, 17

Chapter 4; Chapter 5

Week 7

Feb. 20, 22, 24

Chapter 6

Week 8

Feb. 27, Mar. 1, 3

Chapter 16 + Chapter 17; Mar. 4 no class (gift to students)

Week 9

Mar. 6, 8, 10

no class - Spring Break

Week 10

Mar. 13, 15, 17

catch up & review; Exam 2; Chapter 8

Week 11

Mar. 20, 22, 24

Chapter 8

Week 12

Mar. 27, 29, 31

Chapter 9; Chapter 10

Week 13

Apr. 3, 5, 7

Chapter 11; Chapter 12

Week 14

Apr. 10, 12, 14

Chapter 12

Week 15

Apr. 17, 19, 21

catch up & review; Exam 3; Chapter 13

Week 16

Apr. 24, 26, 28

Chapter 13; Chapter 15

Week 17

May 1, 3, 8

Chapter 15; Final Exam

A note regarding the date range for the Final Exam:

Technically, each section has been assigned a different time/day for the final exam by the University. This seemed unfair so instead I will open the final exam for all students at 6:00am on May 3rd, and close the final exam at 6:00pm on May 8th. Students can take the final exam at any point in this six-day window.

Top Hat Registration Instructions

We will be using Top Hat (www.tophat.com) for homework assignments and exams in ECON 2106. Specifi- cally, you need to purchase basic access to Top Hat (this appears as “Top Hat Pro (Classroom)” at check out), as well as the homework pack (this appears as “Top Hat Interactive Textbook: Principles of Microeconomics Homework Pack”at check out).

If you already have a Top Hat account, go to https://app .tophat .com/e/690891 to be taken directly to our course. If you are new to Top Hat, follow these steps...

• Go to https://app .tophat .com/register/student

• Click Search by school” and input the name of our school

• Search for our course with the following join code: 690891

Dr. Taylors Notes: READ THIS!!

Use your  UGA email  when registering for Top Hat. Specifically, the version with the  numbers and letters . For example, if I was a student registering on Top Hat then I would use [email protected]  (and not [email protected]) – obviously use your own  UGA email when setting up your account.  I will use

your UGA email to sync your Top Hat information with the course eLC throughout the semester. When entering in your name, please use the name the University has (rather than a nickname).

Finally, please enter your  student ID  number (i.e.  the number starting with 81) when creating your Top Hat account so that I can transfer your grade information to the UGA Registrar at the end of the semester (see image below).

If you do not already have a Top Hat account then payment will be listed at checkout when you enroll in the course.

Should you require assistance with Top Hat at any time please contact their Support Team directly by way of email ([email protected]), the in-app support button, or by calling 1-888-663-5491. Specific user information may be required by their technical support team when troubleshooting issues.

For additional instructions on how to create a Top Hat account and enroll in our Top Hat Pro course, please consult Top Hat’s Getting Started Guide (https://bit.ly/31TGMlw).