Course Syllabus

Economics 2302.004:
Principles of Microeconomics (CV)
Spring 2008

Professor Contact Information

Professor: Kurt Beron GR 3.208, (972) 883-2929, kberon@utdallas.edu.

Office Hours: Tuesdays 9 – 9:55am and Wednesday 2:50 – 3:50 and by appointment.

TA: Monica Brussolo GR 2.512 phone: 972-883-4916, monica.brussolo@utdallas.edu

Office Hours: Tuesdays 11:30 – 12:30 and Thursdays 9 – 9:55am, and by appointment.

Home Page for Course is on WebCT: http://webct.utdallas.edu

Course Pre-requisites, Co-requisites, and/or Other Restrictions

Prerequisites: There is no economics prerequisite for this class. While a strong

mathematical background is not assumed, we will make extensive use of algebra and
graphs throughout the course.

Course Description

This course will cover the foundations of modern microeconomics. If human wants are
virtually unlimited but resources used to produce goods and services are limited, then
choices must be made by each society. These choices include what and how much to
produce, what technology to use, and who will consume and pay for the goods and
services produced. Microeconomic theory looks at these problems from the perspective
of individual economic agents, such as firms, families, and individuals. In this course, we
will study theories that attempt to explain the decision-making processes underlying
these choices. The core topics included in this course are: consumer preference and
decision making, demand theory and applications, theory of the firm, perfect competition
in partial equilibrium, monopoly, income distribution, and market failures. Other topics
will be included as time permits.

Course Syllabus Page 1

Student Learning Objectives/Outcomes

• To explore what economics is and describe the basic approach that economists
take to make decisions about allocation of resources under conditions of scarcity
allocations.
• To explain demand and supply concepts
• To differentiate between types of markets and identify problems in each
• To integrate the results of these individual decisions, to analyze the behavior and
outcomes of the market as a whole, including evaluation of the desirability of the
outcomes, and whether they can be improved upon by policy intervention.

Required Textbooks and Materials

The textbook for the course will be Karl E. Case and Ray C. Fair Principles of
Microeconomics, 8th edition, Prentice-Hall, Inc. 2007.

In addition the study guide that accompanies the text is required. You can find the
answers to the even-numbered textbook questions at the back of the textbook.

We will also use the Economics of Public Issues, 15th ed., by Roger Miller. Students will
be assigned to present chapters from this book.

Prentice Hall has set up a web page for the textbook at

http://www.prenhall.com/casefair. The textbook for our class is labeled “Principles of
Microeconomics, 8/e.” You have access there to a web site where you will find a
summary of important topics in the chapter, economic news items, and a study guide
with true/false, multiple choice, and essay questions. The "study guide" questions on-
line are useful to review for exams.

Other readings may be assigned during the semester.

Suggested Course Materials

WebCT is used in this class for distributing readings, problem sets, and other material
for the course, and contains a copy of this syllabus. It will also, as stated below, be used
for e-mail correspondence with the class if communication is necessary and so all
students must have a UTD netID and password. If you are unfamiliar with WebCT, or
need netID help, go to the following website for directions:
http://www.utdallas.edu/distancelearning/students/webct_login.htm
You should make sure you check the website promptly. You can access WebCT either
from a home PC or on campus.

Course Syllabus Page 2

Assignments & Academic Calendar

Tentative Reading Assignment Schedule – Spring 2008

Principles of Microeconomics (ECO 2302 – Beron)

Readings are from the Case and Fair text and are listed for when they are supposed to
have been read. It is expected that the Study Guide problems will have been attempted at
the time that the corresponding chapters in the text have been assigned. Problem set
dates are also listed below. Readings from the Miller book will be assigned in class.

If and when we get behind the exam dates will not change. I will change the material that
is covered in the exam, so plan your semester accordingly.

January
8 Introduction and Chapter 1 (The Scope and Method of Economics)
10 Continued, and Appendix to Chapter 1
15 Chapter 2 (The Economic Problem: Scarcity and Choice)
17 Continued
22 Chapter 3 (Demand, Supply, and Market Equilibrium)
24 Continued
Problem Set 1 Given
29 Continued and Chapter 4 (Demand and Supply Applications)
31 Continued

February
5 Continued and Chapter 5 (Elasticity); review the appendix to Chapter 5, but
don’t worry about the geometric proof
7 Continued
Problem Set 1 Due (Bring a copy with you to class as we will go through
the answers in class after you turn them in)
12 Exam 1
14 Chapter 6 (Household Behavior and Consumer Choice; omit the Appendix)
19 Chapter 7 (The Production Process: The Behavior of Profit-Maximizing
Firms); omit the Appendix
21 Continued
26 Continued and Chapter 8 (Short-run Costs and Output Decisions)
28 Continued
Problem Set 2 Given

March
4 Continued and Chapter 9 (Long-run Costs and Output Decisions);
omit the Appendix
6 Continued and Chapter 10 (Input Demand: The Labor and Land Markets
– selected pages: 211-219)
11, 13 Spring Break
18 Continued
Problem Set 2 Due (Bring a copy with you to class as we will go through
the answers in class after you turn them in)
20 Exam 2

Course Syllabus Page 3

 25 Chapter 12 (General Equilibrium and the Efficiency of Perfect Competition);
selected pages: 251-258 and 263-266
27 Continued and Chapter 13 (Monopoly and Antitrust Policy)

April
1 Continued
3 Continued and Chapter 14 (Monopolistic Competition and Oligopoly) –
selected pages: 301-306 and 311-320
8 Continued
Problem Set 3 Given
10 Chapter 17 (Public Finance: The Economics of Taxation) – selected pages:
377 - 389
15 Continued
17 Continued and Chapter 15 (Externalities and Public Goods) – selected
pages: 327-347
22 Continued
Problem Set 3 Due (Bring a copy with you to class as we
will go through the answers before the Final)
24 TBA

May
1 Final Exam 8am - 10:45

Grading Policy

The grade for the course will be based on two mid-semester exams (20% each), three
problem sets (10% each), and a cumulative final exam (25%), along with presenting
chapters from the Miller book (5%). You may work on the problem sets together, but all
answers turned in must be written up independently. In addition, I may call on students
after the problem sets have been turned in to explain the answers to the class and may
call on students to explain study guide questions. Being prepared (or not prepared) to
discuss these questions can affect the grade of a student who is on the margin.

Course & Instructor Policies

(make-up exams, extra credit, late work, special assignments, class attendance, classroom citizenship, etc.)

Make-up exams/Late assignment policy: Exam dates will not be changed; I will
adjust material for the exam if we get behind. Make-up exams will only be given in
extenuating circumstances with the exam itself likely being more difficult per the
additional time and information available.

No extra credit assignments will be given and late work will be penalized 10 points per
day if the problem set has not been reviewed in class. At that point no late assignments
will be accepted.

E-mail: Questions may be sent to Monica or me by e-mail throughout the semester.

We will answer them within two to three days, though usually sooner. For many

Course Syllabus Page 4

students this will be the easiest way to get timely answers to questions. Additionally,
whenever clarifications need to be made in material I will use e-mail to distribute the
information, so you should also check your e-mail periodically. A couple of important
rules relating to e-mail in this course:

• If you want me to read your e-mail, it must include ECO 2302 in the subject
header. Otherwise it may well end up as automatically deleted spam.

• The University requires all official e-mail to go to your UTD address, so I will send
most messages to your WebCT address. You may then forward them to some
other address.

Decorum during class:

No cell phones on or text messaging
No laptop use except for note taking
No gum, please

Course Syllabus Page 5