Iowa State University, Department of Economics

Principles of MICROECONOMICS

ECON 101, Spring 2005

Professor M. KILKENNY 294-6259 office hours: M,W 3:30-5:00pm and by appointment

Department of Economics 181 Heady Hall http://www.econ.iastate.edu/classes/econ101/kilkenny

Required Materials: APLIA online + textbook MICROECONOMICS by Paul Krugman and Robin Wells, Worth Publishers, 1^st Edition, ©2005. Our course key is:  HL9F-Y22M-M346

When/Where: Section 1: M-W-F 8:00-8:50 am, 1 Carver Hall

Section 3: M-W-F 10:00-10:50 am, 2245 Coover Hall

Course Overview: Econ 101 is mainly about the decision-making behavior of individuals and organizations as consumers and producers, and how their interactions determine market outcomes.  Economic models of “demand” and “supply” are elaborated, and the models are applied to analyze personal, business, public policy, and resource allocation topics or current events.  CALENDAR

Learning Goals: To acquire a working knowledge of microeconomic principles. To learn how to logically abstract and analyze complex economic phenomena.  To develop critical thinking skills.  To understand how opposing interests arrive at common contracts. To develop the skills to understand and predict real-world outcomes (“what might happen if…?”), and make more efficient or satisfying decisions (“what should be done if…?”). To learn how to deduce motives and limitations from observed choice (“why would anyone do that?”).

Homework: consists of reading and problem solving. (1) Read assigned textbook material before class. Additional assigned readings will be available on class web page. (2) All Homework Problems are on the APLIA website, must be completed and submitted online. Your corrected homework will also be online:

1. Go to http://econ.aplia.com

2. Type in your email address:  *****@*******.***

3. Type in your password:         ###########

If you can't seem to access Aplia or have a question about Aplia, send an e-mail to support@aplia.com. You can also click the Contact Support button on the Aplia Home page. If you can't remember your password, click the "Did you forget your password" link below the Sign In button on Aplia's Sign In page. Your password will be e-mailed to you within a few minutes.

Homework is accepted electronically until the due date and time. No late homework is accepted. On-time complete and non-zero score (edited 4/18/05) homework earns full homework credit.

Exams: There will be two midterm exams during the term, and a final exam. The exams cover the textbook, homework, lectures, and all other reading material. The final exam is comprehensive.

Grading: Seventy percent (70%) of the grade is based on the best two of the three exams. The worst exam counts for 20%, and homework is 10%. There is no curve: students are graded on the material; not in competition with their classmates. (It's possible for the whole class to earn A if everyone masters at least 93% of the material.) The grading scale is:

< 54%	54-57	58-60	61-64	65-68	69-72	73-75	76-79	80-83	84-88	89-93	>93 %
F	D-	D	D +	C-	C	C+	B-	B	B+	A-	A