YORK UNIVERSITY Department of Economics - Faculty of Arts
ECONOMICS AS/ECON 1000 D,E / 1010 P,Q Introduction to Micro / Macroeconomics
Fall 2011 / Winter 2012 T, R 2:30 - 4 CSE A
Instructor: George J.Georgopoulos Office: 1080 Vari Hall Phone: 736-2100 ext. 30108 Office Hours: Tuesdays 1:15 - 2:15, Thursdays 1:15 - 2:15, and by appointment Email: [email protected] only for non-course material correspondence
INTRODUCTION
"The Theory of Economics does not furnish a body of settled conclusions immediately applicable to policy. It is a method rather than a doctrine, an apparatus of the mind, a technique of thinking which helps its possessor to draw correct conclusions." - John Maynard Keynes
The ECON 1000/1010 courses present a general overview of the subject matter of economics. The fall term will focus on microeconomics -- the study of economics from the point of view of the individual consumer and the individual firm. The winter term will address macroeconomics issues, taking the perspective of the economy as a whole.
REQUIRED COURSE MATERIALS
Economics: Canada in the Global Environment, 7th edition, by M. Parkin and R. Bade (Pearson, 2010), [referred to as P/B in the assignments].
Study Guide (to accompany Economics), 7th edition, by A. Cohen and H. King, (Pearson, 2010).
MyEconLab (Pearson 2010)
• A bundled Economics Textbook/Study Guide/MyEconLab package is available in the York bookstore . This includes both microeconomics and macroeconomics, and is all you need for both ECON1000 and 1010. • MyEconLab is required for graded quizzes, so used textbooks are not likely to save you money, because you will also have to purchase a license for MyEconLab. • Using the 6th or earlier editions of the textbook or Study Guide will put you at a severe disadvantage because of changes between editions. And you would still need to purchase a license for MyEconLab. • If you are planning on only taking ECON 1000 (microeconomics only), you may purchase a bundled Microeconomics Textbook/Study Guide/MyEconLab package (ISBN 0132469863) in the York bookstore.
• NOTE: You cannot sign in/register under a different name and/or you cannot use your friend’s account to do the quizzes. You must use your own name and your own account. Otherwise you will receive a mark of zero for quizzes not in your name.
Course Lecture notes and any additional required readings will be posted on the Quickr course website. The link (for both sections D and E) to the course website is: http://jacinth.eso.yorku.ca/2011f-apecon1000d-03
The link for the Quickr instructions and contact information is: http://www.yorku.ca/laps/eso/students/quickrinstructions.html AS/ECON 1000 D,E / 1010 P,Q 2 Fall 2011/Winter 2012
FINAL GRADE
The composition of the final grade is:
1000 Fall 2011 Online Quizzes 20% Throughout the term Test #1 15% (in class) Tuesday, October 18, 2011 Test #2 15% (in class) Tuesday, November 15, 2011 Final Exam 50% December 8 - 22, 2011 100%
1010 Winter 2012 Online Quizzes 20% Throughout the term Test #1 15% (in class) Thursday, February 2, 2012 Test #2 15% (in class) Thursday, March 8, 2012 Final Exam 50% April 4 - 20, 2012 100%
You are responsible for all material covered in lectures and all assigned pages in the textbook and questions in the Study Guide. Do not do end of chapter questions in the textbook. Quizzes are explained below.
COURSE WORK
While tests and the final exam must be taken in person, it is your choice whether to attend the lectures in-class or online. There will be three in-class lecture hours per week. Lecture notes (in the form of PowerPoint slides) will be available at least 24 hours in advance of class on the course website. Students attending lectures should print out a copy of the lecture notes and bring them to class, as the pace of lectures will presume you have the notes in front of you. All lecture content will be captured digitally (including PowerPoint, audio, document camera) and made available on the Quickr course website within one day of the lecture.
The in-class tests and final exams consist of multiple choice (MC) questions and short answer problems (SAP). In addition, students should answer the assigned questions in each Study Guide chapter (you may skip all True/False questions) corresponding to the chapters in the Parkin/Bade textbook. These will not be graded and will not directly affect your grade. However, the importance of doing the Study Guide questions cannot be overemphasized. Next to the lectures, working out the answers to the questions in the Study Guide is the most important preparation for tests and exams. You will not pass tests and exams if you cannot answer the Study Guide questions.
One of the dangers of a course where you do not have to physically attend lectures, is that without the discipline of coming to class, you may fall behind in your reading and studying. In most university courses, but in Economics in particular, that is a recipe for disaster, as last minute cramming does not work. The failure rate on the first term test is typically 25% or higher, because students do not take this advice. To help prevent this outcome, I will have online quizzes throughout the term (worth 20% of your final course grade) that must be completed by specific dates. Quizzes and other online study aides will be delivered through MyEconLab. More quiz details will be available once the course starts.
Read the Study Guide's "Introduction" for advice on studying if you want to increase your chances of earning a higher grade. I consider my job to be helping you succeed in doing well in the course. However, that will take a serious commitment from you. ECON 1000 is a difficult course with high drop/failure rates. To do well, you should expect to spend at least 2 hours studying outside the classroom for every hour of lecture. That means a minimum of 5 hours per week studying for this course alone. If you are taking 5 courses and working 20 hours a week or more, experience shows you are likely to fail this course. Make sure you have time to do well. Tests and exams do not focus on recall of information, but on application of concepts to different situations. That is also why working practice problems in the Study Guide and using MyEconLab are so important.
Compared to some other sections of the course, I tend to cover more chapters in the textbook and many students report that they work harder in my sections. I make no apology - you will learn more for the same tuition dollars than will students in those other sections. If that does not appeal to you, consider switching to another section. AS/ECON 1000 D,E / 1010 P,Q 3 Fall 2011/Winter 2012
LECTURE / TEST RULES AND ACADEMIC HONESTY
Please silence all cell phones and pages before entering the lecture hall. Students using notebook/netbook computers will be required to sit in designated areas.
For tests and exams, programmable calculators, digital dictionaries, cell phones, or any electronic devices are not allowed. All such devices as well as all books, papers, knapsacks, and briefcases must be left at the front or sides of the lecture hall. Anyone caught with electronic devices will be charged with Academic Dishonesty. The only items you may have at your seat are pens, pencils, student ID, purses and coats.
Cheating and plagiarism are serious offences, which carry severe penalties. All students are expected to go to the Academic Integrity web site (http://www.yorku.ca/acadinte/students/index.htm), to read the Senate Policy on Academic Honesty, and to complete the Academic Integrity Tutorial (http://www.yorku.ca/tutorial/academic_integrity/).
Since calculators are not allowed on tests and exams, I suggest you do all Study Guide and MyEconLab problems without using a calculator, so you get used to using a pencil only.
MAKE-UP POLICY
No permission is ever given to a student to write a test or exam in advance of its scheduled date. A student who misses a test will be allowed to write a make-up test only if both of the following conditions are met:
1) the student notifies me that the test will be missed or has been missed; 2) the student provides a completed Registrar's Office Attending Physician's Statement showing a physical incapability of writing the test.
Any other forms of doctor's note, especially one stating simply that "The student was seen in my office" are not acceptable. Students who miss a test and do not meet both conditions (advance notification and completed Registrar's Office Attending Physician's Statement) receive a grade of zero.
Students who miss either term test and meet both of the conditions above, will write the make-up test which is held during class time, one week after Test 2 (for AS/ECON 1000, Tuesday, November 22, 2011, 2:30 pm; for AS/ECON 1010, Thursday, March 15, 2012, 2:30 pm). There is only one comprehensive make-up test each term, covering the material in both Tests 1 and 2. You must be available at these (class) times to write a make-up test. No other times will be scheduled.
Students who miss the final exam will only be allowed to write a deferred exam if they complete the Deferred Standing Agreement Form and provide a completed Registrar's Office Attending Physician's Statement.
Make-up tests and deferred exams are only for students who missed the original test or exam. No student is ever allowed to write a make-up test or deferred exam in order to improve a score from the original test/exam.
To ensure that all students are familiar with these rules, you must complete "Quiz Zero" within MyEconLab. While this quiz is not graded, you will not be able to access the lecture notes or receive Test marks until you complete Quiz Zero with a perfect score.
IMPORTANT DATES
September 20, 2011 Last date to enrol in AS/ECON 1000 without the permission of the instructor October 4, 2011 Last date to enrol in AS/ECON 1000 with the permission of the instructor November 11, 2011 Last date to drop AS/ECON 1000 without receiving a grade
January 16, 2012 Last date to enrol in AS/ECON 1010 without the permission of the instructor January 30, 2012 Last date to enrol in AS/ECON 1010 with the permission of the instructor March 9, 2012 Last date to drop AS/ECON 1010 without receiving a grade
If you fail the first term test in either course, and cannot significantly increase the time you spend studying Economics, it may be in your best interest to drop the course before the deadline for not receiving a grade. AS/ECON 1000 D,E / 1010 P,Q 4 Fall 2011/Winter 2012
RELIGIOUS OBSERVANCE POLICY
York University is committed to respecting the religious beliefs and practices of all members of the community, and making accommodations for observances of special significance to adherents. Should any of the dates specified for in-class tests or examinations pose such a conflict for you, you are responsible for contacting me at least 2 weeks in advance. To arrange an alternative date or time for a final exam scheduled in the formal examination periods (December and April), students must complete an Examination Accommodation Form (http://www.registrar.yorku.ca/pdf/exam_accommodation.pdf).
TA OFFICE HOURS
Teaching assistants will be available in Vari Hall to answer questions about course material and Study Guide questions. The TA office hours and locations will be announced in lecture and posted on the website. The best way to get questions answered by TAs is to post them to the Quickr discussion forum (see below).
TECHNOLOGY
Even if you attend every lecture in person, to take this course you must have access to a computer and the web. You will need to log on at least every other day, and ideally, every day.
The two major technologies used are the Quickr Course Management System and MyEconLab for quizzes. Complete instructions for accessing this course's Quickr website are at http://www.yorku.ca/laps/eso/students/quickrinstructions.html
LET'S GO
If you don't learn a lot of Economics, or find this course interesting or enjoyable, then I'm not doing my job. I love teaching this course, and consider it my responsibility to help you to do well. Learning Economics means working hard, and this course will be hard work. But if you are willing to put in the time, I will do everything I can to help you succeed. If you have questions in lecture, ask them. If you have suggestions for improving the course, please let me know. What you will get out of this course, as what you will get out of your University experience in general, depends entirely on what you put into it. AS/ECON 1000 D,E / 1010 P,Q 5 Fall 2011/Winter 2012
LECTURE SCHEDULE AND ASSIGNMENTS Introduction to Microeconomics AS/ECON 1000 3.0 D,E Fall 2009
WEEK OF TOPIC READING STUDY GUIDE ASSIGNMENT ASSIGNMENT
September Administrative Introduction Course Outline 7
September What is Economics?: Theory, P/B Ch. 1; Ch. 1 Ch. 1: MC All SAP All 12 History, Measurement, Policy Appendix, Math Note Appendix: MC All SAP All
September 19 The Emergence of the P/B Ch. 2 Ch. 2: MC 1-23 SAP 1-9 Market Economy: Part 1: Problem All MC All The Economic Problem
September Overview Neoclassical P/B Ch. 3 Ch. 3: MC All SAP All 26 Economic Theory: Demand & Supply
October 3 Elasticity P/B Ch. 4 Ch. 4: MC All SAP All
TEST 1 - In Class - Tuesday 18 October
October 20 Efficiency & Equity; P/B Chs. 5 and Ch. 5: MC All SAP All 20 Markets in Action 6 Ch. 6: MC 1-15 SAP 1-7 Part 2: Problem a-d MC 2-17
October Utility & Demand P/B Ch. 8 (182-193 only) Ch. 8: MC 1-23 SAP All 24
October 31 Possibilities, Preferences and P/B Ch. 9 Ch. 8: MC All SAP All Choices Part 3: Problem All MC All
November 7 Organizing Production; P/B Chs. 10 (227-232 Ch. 10: MC 1-10, SAP 1-4 10 Output & Costs only) and 11 Ch. 11: MC All SAP All
TEST 2 - In Class - Tuesday 15 November
November Perfect Competition P/B Ch. 12 Ch. 12: MC All SAP All 17
Nov. 21 Monopoly; P/B Chs. 13 and 14 Ch. 13: MC All SAP All Monopolistic Competition (323-329 only) Ch. 14: MC 1-19 SAP 1-5
November Oligopoly; P/B Chs. 15 (341-3, Ch. 15: MC 1-4, 9-17 SAP 1-3, 7-8 28 Externalities 346-54 only) and 16 Part 4: Problem All MC 1-8, 10-14, 16-23 Ch. 16: MC All SAP 1-3, 5-10 Part 5: Problem All MC 4-5, 8, 11
December 5 Markets for Factors of P/B Ch. 18 (417-21, 428- Ch. 18: MC 1-6, 22 SAP 1-4 Production 9, 434-5 only) Part 6: Problem None MC 4-5
FINAL EXAM – In the period of DECEMBER 8 - 22, 2011
. AS/ECON 1000 D,E / 1010 P,Q 6 Fall 2011/Winter 2012
LECTURE SCHEDULE AND ASSIGNMENTS Introduction to Macroeconomics AS/ECON 1010 3.0 P,Q Winter 2012
WEEK OF TOPIC READING STUDY GUIDE ASSIGNMENT ASSIGNMENT
January Measuring GDP & Economic P/B Ch. 20 Ch. 20: MC 1-6, 12-25 3 Growth SAP 1-4, 6-10
January Monitoring Jobs and Inflation P/B Ch. 21 Ch. 21: MC All SAP All 7 Part 7: Problem None MC 1-2, 4-8
January Aggregate Supply and P/B Ch. 26 Ch. 26: MC All SAP All 14 Aggregate Demand
January Expenditure Multipliers: P/B Ch. 27 Ch. 27: MC All SAP All 21 The Keynesian Model
January 31 (Continued)
TEST 1 - In Class - Thursday 2 February
February 6 Money, the Price Level & P/B Ch. 24 Ch. 24: MC All SAP All Inflation
February The Exchange Rate & P/B Ch. 25 Ch. 25: MC All SAP All 13 Balance of Payments Part 8: Problem None MC 3-4, 7, 9, 11, 13, 16
February 27 Canadian Inflation, P/B Ch. 28 Ch. 28: MC 1-14 SAP 1-3, 5-6 Unemployment & Business (679-686 only) Cycle
March 5 Fiscal Policy P/B Ch. 29 Ch. 29: MC 1-8,16-25 SAP 1-3, 9-10 (707-13, 718-26 only) Part 9: Problem None MC 1-5, 7-8, 10, 12
TEST 2 - In Class - Thursday 8 March
March Monetary Policy P/B Ch. 30 (731-46 only) Ch. 30: MC 1-23 SAP 1-5 12 Part 10: Problem None MC 1-3, 5-6
March Economic Growth P/B Ch. 22 Ch. 22: MC All SAP All 19
March Government and To be added 26 Business Cycles: Hands Off or Hands On?
FINAL EXAM - APRIL 4 - 20, 2012 Registrar's Office
Attending Physician's Statement
Note: It is extremely important to fully complete this form in order for your petition to be given full consideration.
Section I - TO BE COMPLETED BY THE STUDENT. Return completed form to Student Client Services, Bennett Centre for Student Services, with your petition.
Please Print Physician Information Student Information Physician's Name Patient's Name (if other than Student)
Street Address Student's Name
City Province Postal Code Student Number
Telephone Number Faculty
Fax Number
Personal health information on this form is collected under the authority of The York University Act, 1965. It is related directly to and needed to support your academic petition to York University.
Pursuant to S. 29 of PHIPA (Personal Health Information Protection Act), I (the undersigned student or patient) authorize and consent to the physician named on this form to disclose to the York University faculty and administrative staff authorized to administer and consider academic petitions such personal health information as is necessary or as may be reasonably required by York University to support my academic petition.
I understand that York University will maintain and store this information in such a manner as to protect its confidentiality.
Signature of Student/Patient (if other than Student) Date
Section II - TO BE COMPLETED BY THE ATTENDING PHYSICIAN.
The above named student, who is registered at York University, has petitioned for special consideration on medical grounds. The student or patient related to the student is authorizing you, the attending physician, to release the information requested below. Please retain a copy of this form for your files as your office may be contacted to verify that this statement was completed by the attending physician. The original form must be returned to the student for submission with the petition. Please Print
1. Date you received this form: ______
2. Consultation Date(s): ______
3. Dates of illness/accident: Start: ______End: ______
PLEASE TURN OVER
Attending Physician's Statement, July 2008 4. Summary of Nature of illness/accident:
______
______
______
5. Do you think the illness/accident and/or treatment prescribed would have seriously affected the student's ability to study and perform? (circle one) Yes or No
6. If yes: a) In what way? ______
b) During what period of time? ______
7. When will the student be able to resume his/her studies? ______
8. Do you have any further comments regarding this patient's condition as it relates to the student's petition?
______
______
______
Physician's Signature Physician's Stamp
Date
For Office Use Only
Verified By: ______Date: ______
If you have any questions about the collection, use or disclosure of personal information by York University, please contact the Manager, Student Client Services, W120 Bennett Centre for Student Services, York University, 4700 Keele Street, Toronto ON, M3J 1P3, 416-872-9675.
Attending Physician's Statement, July 2008