Microeconomic PrinciplesFall 2012
Hours:TTH: 7:15 – 8:30 a.m. and 12:00 – 12:30 p.m.
Other times by appointment.
“Underlying most arguments against the free market is a lack of belief in freedom itself.”
-- Milton Friedman
1. Textbook: Microeconomics by Boyes and Melvin, 9th edition, (Paperback or 180 day digital rental)
Economics is a powerful tool for understanding human behavior. In Microeconomics we develop a logical framework to analyze and understand decision making by individual consumers and businesses and the effects those decisions have on the marketplace. At the semester’s end you will have a better understanding of how markets work, how prices are determined, how markets react to shortages and surpluses, why profits are important, and how government is involved in the economy. Classroom attendance is strongly recommended. Much of the material is quite analytical and students will spend considerable time devoted to the material outside of class to successfully complete the course. The exams are designed to challenge even the best of students. They require logic and problem solving ability. Memorization will be of no value in this course. The ability to read and understand graphs is basic.
To assist you in your study of economics, an Economics Laboratory for this class will be available 15 hours each week. The Lab will be staffed with Teaching Assistants and Student Mentors who will assist you with your homework, exam preparation and your study of economics in general. The lab hours and locations will be posted on the Electronic Blackboard.
You will be assigned 4 homework sets and given at least two weeks to complete them. Completed assignments must be submitted to the Economics Lab during lab hours. Homework will not be accepted in the Economics Department, in my office, or in class. Homework assignments may be submitted before the deadline, but not after. LATE HOMEWORK ASSIGNMENTS WILL NOT BE ACCEPTED UNDER ANY CIRCUMSTANCE.
HOMEWORK DUE DATES ARE AS FOLLOWS:
HW #1 – Wednesday, September 19
HW #2 – Monday, October 22
HW #3 – Wednesday, November 14
HW #4 – Tuesday, December 11
1. To every exam you must bring your official ASU Sun Card. Your Driver’s License is not sufficient if it does not contain your official 10 digit ASU I.D. Number. Failure to bring your Sun Card to an exam will result in a loss of three points in the “best case” scenario or an exam grade of zero in the “worst case” scenario. A three-point penalty will be assessed if you fail to enter your 10 digit ASU I.D. Number correctly on your exam scantron.
2. You are expected to arrive in class on time for examinations. Arriving late to a "mid term" exam may exclude you from taking the exam. If you arrive after the first person has finished the exam and left the room, you will not be allowed to take the mid-term exam. Since the final exam may not be used as a dropped exam score, arriving late for the "final exam" will not exclude you from taking the final exam. However if you arrive after the first person has finished the final exam and left the room, you will be given an essay exam that must be completed in the remaining time allotted for the final exam.
3. After each midterm exam, your score on the midterm and the homework immediately preceding that midterm will be posted on the Blackboard. If you believe that your exam or homework was incorrectly scored by the University Testing Center, you have two weeks from the posting date to contest the posted scores. If not contested, the scores are a permanent part of your record.
4. Exams will be given in our...