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Intermediate Microeconomics

ECN301

Summer Session II 2023

Course Format

This course will be fully online and asynchronous during Summer 2023, lecture videos will be uploaded to blackboard.

Prerequisites

•    ECN101

     either ECN102 or ECN203

     either MAT284, MAT285, or MAT295

Office Hours

To facilitate learning as much as possible, I will have office hours both in-person for those in the Syracuse area as well as over Zoom for those who are working remotely. Please use this link for the Zoom office:https://syracuseuniversity.zoom.us/j/3439100206. I understand that we may all be in different time zones, so I encourage you to send me an email to set up another time for an   appointment as needed.

Course Description

This course covers concepts and tools for the analysis of the behavior of consumers and firms,   consumption decisions, market structures, and general equilibrium. Topics include consumer      choice, market demand and equilibrium, production choice, behavior of firms in competitive      markets and in markets where firms have market power. Students are expected to have mastered basic algebra and be familiar with some calculus prior to attending class.

Textbook

Hal R. Varian (2014): Intermediate Microeconomics: A Modern Approach, Ninth Edition.

(Previous editions of this book are also acceptable, but I cannot guarantee that it will cover all the required material and that the chapters align perfectly with the course outline)

Grading

The final grade will consist of homework assignments and exams. The weights assigned to each are as follows:

•    Homework (30%)

     Exam 1 (35%)

•     Exam 2 (35%)

Homework: There will be 6 homework assignments, each worth 5% of your overall course   grade. Homework will be due each week on Friday 11:59PM Eastern Standard Time and will be submitted on Blackboard under the Assignments section. Late homework will get a penalty of 1% point (20% of each homework) by each day beyond the due date. For example, if an              assignment is late by one day, then the maximum point you can get for the assignment is 4% of  your overall course grade. If you do not submit the homework assignment within 5 days past the due date, you may still send it to me for feedback, but you will receive 0% on the assignment.     You can ask about homework during office hours.

Exam: There will be two exams. Exams will be non-cumulative and take-home with a set    time and time limit. There will not be any alternative times for these exams unless for university sanctioned reasons with documentation, and you must let me know by the end of the first week.

     Exam 1: July 21st  at 11AM Eastern Standard Time

     Exam 2: August 11th  at 11AM Eastern Standard Time

The final course grade will be determined as follows:

A: 92 – 100                 A-: 88 – 91.9

B+: 84 – 87.9

C+: 72 – 75.9

D: 60 – 63.9

B: 80 – 83.9

C: 68 – 67.9

F: 0 – 59.9

B-: 76 – 79.9

C-: 64 – 67.9

Academic Integrity

Syracuse University’s Academic Integrity Policy reflects the high value that we, as a university   community, place on honesty in academic work. The policy defines our expectations for               academic honesty and holds students accountable for the integrity of all work they submit.           Students should understand that it is their responsibility to learn about course-specific                   expectations, as well as about university-wide academic integrity expectations. The policy            governs appropriate citation and use of sources, the integrity of work submitted in exams and       assignments, and the veracity of signatures on attendance sheets and other verification of              participation in class activities. The policy also prohibits students from submitting the same work in more than one class without receiving written authorization in advance from both instructors.  Under the policy, students found in violation are subject to grade sanctions determined by the      course instructor and non-grade sanctions determined by the School or College where the course is offered as described in the Violation and Sanction Classification Rubric. Syracuse University   students are required to read an online summary of the University’s academic integrity                  expectations and provide an electronic signature agreeing to abide by them twice a year during pre-term check-in on MySlice. For more information about the policy, see

https://class.syr.edu/academic-integrity/policy/.

Accommodations for Students with Disabilities

Syracuse University values diversity and inclusion; we are committed to a climate of mutual       respect and full participation. There may be aspects of the instruction or design of this course      that result in barriers to your inclusion and full participation in this course. I invite any student to contact me to discuss strategies and/or accommodations (academic adjustments) that may be       essential to your success and to collaborate with the Center for Disability Resources (CDR) in     this process. If you would like to discuss disability-accommodations or register with CDR,          please visit Center for Disability Resources. Please call (315) 443-4498 or email                           [email protected] for more detailed information. The CDR is responsible for                coordinating disability-related academic accommodations and will work with the student to         develop an access plan. Since academic accommodations may require early planning and             generally are not provided retroactively, please contact CDR as soon as possible to begin this process.

Course Outline

Topic

Textbook

Assignment /Week/ Exam

Math Review

 

Mathematical

Appendix

 

Theory of the

Consumer

Budget Constraint

Chapter 2

Week 1

Preferences

Chapter 3

 

Utility

Chapter 4

Assignment 1

Choice

Chapter 5

Week 2

Demand

Chapter 6

 

Substitution and income effects

Chapter 8

Assignment 2

Consumers Surplus

Chapter 14

Week 3

Market Demand

Chapter 15

 

Equilibrium

Chapter 16

Assignment 3, Exam 1

Theory

Firm

Technology

Chapter 19

Week 4

Profit Maximization

Chapter 20

 

Cost Minimization

Chapter 21

Assignment 4

Cost Curves

Chapter 22

Week 5

Firm Supply

Chapter 23

Assignment 5

Monopoly

Chapter 25

Week 6

Monopoly Behavior

Chapter 26

 

Oligopoly

Chapter 28

Assignment 6, Exam 2