Dr. Greg Delemeester
Economics is the study of how individuals and societies make rational choices when confronted with scarce resources and an uncertain environment. As a social science, economics provides a rigorous framework in which to organize observed economic phenomena so that we may come to some understanding of the world about us. Economics is divided into two branches: microeconomics and macroeconomics. Microeconomics is concerned with how individuals and firms make decisions within the context of an isolated market. Macroeconomics, on the other hand, is concerned withhow the economy as a whole behaves over time.
This course is about microeconomics. During this semester you will be introduced to the mechanics of a market economy. You will learn how and why markets may "work" well and not so well. You will also learn about the impact of government intervention on market processes. Above all else, I hope that you come away from this course with a useful framework for which to make some sense out of this world.
1、Understand the impact of markets in allocating scarce resources
a. Be able to think in terms of supply and demand
b. Be able to think in terms of costs and benefits
2、Understand the impact of government intervention on environment quality and the
allocation of resources
3、Use simple graphical and algebraic models to express economic relationships
Means of Communication
Our main means of communication is the classroom. The students are required to attend classes on a regular basis. Similarly, please feel free to e-mail me to discuss your concerns and questions.
Principles of Microeconomics (South-Western, 2012, 6e) by N. Gregory Mankiw. Earlier editions are acceptable.
My plan is to cover Chapters 1, 2, 3, 4, 6, 7, 10, 11, 13, 14, 15
Eighty percent of your course grade is determined based on your performance on two exams. The first exam will be given at the end of the first week of classes. The second exam will be given on July 13. There are multiple choice questions, short essay questions and problems on each exam.
In-class and Out- of-Class ExercisesThirty percent of your course grade depends on various in-class and out-of-class exercises. These exercises are designed to allow you to test your understanding of the material and give you a chance to apply your knowledge and engage in economic analysis. All exercises are worth 10 points. There will be n exercises. Only your best n-2 exercises will count toward your course grade.
If you miss the test or a quiz and have an excused absence, I will meet with you to discuss your options. If you miss the test or a quiz because of an unexcused absence, you will receive a grade of zero on that exam or exercise.
The following table shows the weight of different assignments in your final grade.
Average of two exams 70%
In-class and out-of-class exercises 30%
Students will be evaluated as follows:
Total % Grade Total % Grade
95 and above 4.0 90-94 3.8
85-89 3.6 82-84 3.3
78-81 3.0 75-77 2.7
72-74 2.3 68-71 2.0
64-67 1.5 60-63 1.0
Below 60 0
"Dishonesty within the academic community is a very serious matter, because dishonesty destroys the basic trust necessary for a healthy education environment. Academic dishonesty is any treatment or representation of work as if one were fully
responsible for it, when it is in fact the work of another person. Academic dishonesty includes cheating, plagiarism, theft, or improper manipulation of laboratory or research data or theft of services. A substantiated case of academic dishonesty may result in disciplinary action, including a failing grade on the project, a failing grade in the course, or expulsion from the College" (Marietta College Catalog).