ECN 4802 - Intermediate Microeconomics

Phone: 581-6331

Office: 2871 (215K) Coleman Hall

Office Hours: 10-12 MW

email: cflsg@eiu.edu

__Objectives:__

At the end of the semester, students should understand:

- the basics of supply and demand
- how to derive an individual's demand curve and Engel curve
- how to calculate and use price elasticities of supply and demand
- production and cost decisions made by firms
- profit-maximizing behavior of firms in competitive and non-competitive markets
- how government programs such as price ceilings, price floors, taxes, subsidies, tariffs, and quotas affect competitive market outcomes
- game theory and competitive strategy

__Required Textbook:__

Pindyck, Robert S. and Daniel L. Rubinfeld. *Microeconomics, 5/e.* (Upper Saddle River, New Jersey: Prentice Hall, 2001.)

__Grading:__

Grades will be determined using a 10-point scale. There will be no "curve". Final grades will be comprised of:

- Homework 20 percent
- 2 unit exams 50 percent
- Final exam 30 percent

__Note:__ Students receiving graduate credit will be expected to achieve a more in-depth understanding of microeconomic
theory. This will be accomplished with problem sets and exam problems that are more
involved and more mathematical than those completed by undergraduate students.

__Please note:__

If you have a documented disability and wish to receive academic accomodations, please contact me and the Coordinator of Disability Services (581-6583) as soon as possible.

__Policies:__
**Homework**

We will have several homework assignments throughout the semester. These will be given at the end of class
and will be due by *the beginning of the next class period*. Since we will have many assignments,
I will drop your lowest homework grade in determining your final homework average. Therefore, __no late
homework assignments will be accepted__ (regardless of whether the absence is excused or not). If you miss class when
an assignment is given, it is your responsibility to get a copy of the assignment and complete it
by the due date. **No late homework assignments will be accepted at any time - no excuses!**

__Answers to Homework Problems:__

**Attendance**

Regular attendance is necessary for you to understand the material covered in this course. While I will
not make attendance an explicit part of your grade, I will be recording attendance every day. Keep in mind
that it will be used in determining the final grade for a student whose average is near a
borderline. I reserve the right to raise or lower your grade average by 1 to 2 points at
the end of the semester based on your attendance record.

**Exams**

All exams will consist of short-answer questions and problems. The final exam is cumulative and will cover some additional material from the third unit of the course.
If you miss an
exam and provide me with a legitimate (and properly documented) excuse __ BEFORE__ the exam,
you will have the option of
increasing the
weight of your remaining exams, or taking a make-up exam (which must be taken before or during the next
class period following the exam).
If you miss an exam and do not provide me with a legitimate excuse beforehand, you will receive
a grade of zero for that exam.

__Exam Schedule (subject to change):__

Exam 1 - Thursday, October 6th

Exam 2 - Thursday, November 17th

Final Exam - Tuesday, December 13th, 10:15-12:15