Class Time: M, W, F at 12:10 p.m.
Class Location: Caldwell Hall 302
Office: 527 Brooks Hall
Telephone: 542-3673, messages can be left at 542-1311.
E-mail: trandel@rigel.econ.uga.edu
Office Hours: Tuesday 10:30 - 12:00 and 2:00 - 3:30.
Thursday 2:00 - 3:30
Teaching Assistant: Todd Potts, G-5 Brooks, Tues 4:30 - 5:30,
Potts_TB@msn.com
Text: Microeconomics: Principles and Tools by
O'Sullivan and Sheffrin.
Class notes and other handouts will also be distributed in class
Tests: Three in-class exams and a comprehensive final exam.
Homeworks: Three assignments.
Complete Syllabus: A complete (paper) syllabus, with
information on the
grading scale, the relationship between the text and lectures, policies
regarding academic honesty, etc. is available from the instructor.
Course Description: Economic choices are necessary because
resources are scarce. Much of this class analyzes how those involved
in a market system -- which consists of independent consumers and
producers --
make these choices and thus organize society's economic activities.
The class also addresses how market outcomes can be judged according
to various criteria, and analyzes government's involvement in the
economy.
This course both introduces rigorous microeconomic theory and shows
how that theory can be applied to certain "real-world" topics. As a
result, the lectures and readings address both theoretical and
policy issues.
| Date | Topic | Text |
| W, Jan. 7 | Introduction | ch. 1 |
| F, Jan. 9 | Key Principles of Economics | ch. 2, pp. 37-43 |
| M, Jan. 12 | Budget Constraints (Opportunities) and Indifference Curves (Preferences) |
pp. 142-147 |
| W, Jan. 14 | BCs and ICs Together; Demand (Consumer Choice) | pp. 147-149, 57-64 |
| F, Jan. 16 | Demand and Consumer Surplus | pp. 124-131, 135-142 |
| M, Jan. 19 | No Class | . |
| W, Jan. 21 | Elasticity | pp. 81-91, 95-99 (includes appendix) |
| F, Jan. 23 | same (HMWK 1 due) | same |
| M, Jan. 26 | Supply and Demand; Markets | pp. 64-80 |
| W, Jan. 28 | EXAM 1 (covering Jan. 7 - Jan. 23) | . |
| F, Jan. 30 | Review Exam 1 (no new material) | . |
| M, Feb. 2 | Restrictions on Markets; Economic Cost | pp. 100-114, 118-123 |
| W, Feb. 4 | Firm Costs; the Supply Curve; Perfect Competition | Chs. 8 & 9 |
| F, Feb. 6 | Competition in the Long Run; Efficiency | ch. 10 |
| M, Feb. 9 | Monopoly and Monopolistic Competition | chs. 11 & 12 |
| W, Feb. 11 | Oligopoly and Game Theory | pp. 246-263, 268-270 |
| F, Feb. 13 | same (HMWK 2 due) | same |
| M, Feb. 16 | Antitrust; Public Goods | pp. 264-268, 114-117, 271-280, 290-292 |
| W, Feb. 18 | EXAM 2 (covering Jan. 26 - Feb. 13) | . |
| F, Feb. 20 | Review Exam 2 (no new material) | . |
| M, Feb. 23 | Externalities; Environmental Issues | pp. 273-274, ch. 15 |
| W, Feb. 25 | International Trade | pp. 49-56, ch. 20 |
| F, Feb. 27 | Labor Market | ch. 17 |
| M, March 2 | Uncertainty and Imperfect Information | ch. 16 |
| W, March 4 | Interest Rates and Present Value | ch. 18 |
| F, March 6 | same (HMWK 3 due) | same |
| M, March 9 | Government Behavior; Taxation | pp. 43-49, 275-276 280-293, 93-99 |
| W, March 11 | EXAM 3 (covering Feb. 16 - March 6) | . |
| F, March 13 | Review Exam 3 (no new material) | . |
| M, March 16 | Tax and Policy Changes | ch. 19 |
| F, March 20 | Comprehensive FINAL EXAM -- 3:30 p.m. | . |