EC 301 Spring 2015

INTERMEDIATE MICROECONOMICS
Dr. Walter Wessels
Office: 4106 Nelson, 513-2879. Secretary: David 515-2472
Home: 919-678-9553
Office Hours: Tuesday and Thursday, 1 - 3 PM
E-mail: Walt_Wessels@NCSU.EDU or wesselsw@bellsouth.net
Web Page is on moodle.wolfware.ncsu.edu
Goals
This course examines what determines the demand and supply of goods in open economies.
This includes the theory of consumer choice, the theory of production, the analysis of competitive
and monopolistic markets, the analysis of input markets, and impact of externalities on the
efficiency of markets. The student is expected to become proficient in economic analysis, utilizing
both graphical and mathematical tools.
Prerequisites
EC 201, Calculus. The ability to use algebra, graphs, and basic calculus are essential for getting
a passing grade in this course.
Texts (Both Required)
1.
Goolsbee, Levitt, and Syverson, Microeconomics (1st edition) plus Econportal.
You dont need the hardback for this: Econportal has the textbook with it.
2.
Power Point notes for this class are available at my web site on vista.ncsu.edu. You can
print them (select file, then print, then 6 per page) or download them and view them on a
computer. To download 6 per page, you need the PowerPoint program, which is
available in the computer lab. To view the files, you can get a free PowerPoint viewer
from http://www.microsoft.com/. If you do not have Microsoft Word, download a free
Word viewer from the same site so as to get documents from the class web site.
3.
EconPortal for Text. You must sign up for EconPortal at the beginning of the course (or
when it is ready). Follow the instructions on the last page. You will be graded on how
well you do on weekly exercises. If you do not do them by the due date, they count as
zero! They will be graded leniently, but if you just guess or do not do most of them, you
will get a zero. I recognize that the internet is unstable and some submissions will not get
through. You should check and if this happens more than two times, let me know. It is
your responsibility to keep up with assignments.
Grading Policy
Your grade will be based upon three tests and a final. The combined test grade has a weight of
60%, the final has a weight of 30%, Econportal 5%, and homeworks 5%. The lowest of the
three tests will be dropped (this does not included the final). All missed tests count as zero but the
lowest will be dropped. A second missed test counts as a zero. The final measures how much
you have learned in this course: this is why it counts as 30% of your grade.
Students are reminded of the existence of the university policy on academic integrity
found in the Code of Student Conduct and the utilization implications of the Honor Pledge. Any
student caught cheating on a test will have that test count as a zero and the test will not be
dropped.
Graphic calculators, cell phones, or any other electronic device capable of displaying or
communicating answers are not to be accessible during tests.
Absences
Absences will subtract against your grade. You will be allowed 4 absences. This is to allow for all
emergencies. Each absence over 4 will count one point off your average in the course. Roll will
be taken at the beginning of class by the use of seating chart.

Snow Days
Roll will not be taken on snow days or when ice is on the ground. Class may be conducted. I will
try to email the whole class if class is cancelled or optional. Any tests will be delayed until the
next class. A snow day occurs when either NCSU or IBM (in RTP) closes or when I declare it.
Email
You are expected to monitor your NCSU unity email account. If you use another account, you
can forward your mail from the unity account to your account.
Other Matters
By taking this course, it is understood your signature on any test or assignment means
that you have not given or received unauthorized aid.
Reasonable accommodation will be made for students with verifiable disabilities. In order
to take advantage of available accommodations, students must register with Disability
Services for Students, 515-7653.
Class Schedule: The following schedule is an optimistic estimate of what we will cover. For
example, if we need more time on demand curves, Test One will be moved to week 5 and
uncertainty will be dropped. The first date of the Test is for review, the second for the test.
Thus, Test Two is scheduled for Thursday, 3/5, the last class before Spring Break. Dont book
your flight before that time unless you plan to drop that test.

CLASS SCHEDULE
WEEK
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15

DATES
1-8
1-13,15
1-20,22
1-27,29
2-3,5
2-10.12
2-17,19
2-24,26
3-3,5
3-17,19
3-24,26
3-31
4-7,9
4-14, 16
4-21,23

FINAL

TOPIC
Introduction
Supply and Demand
Using Supply and Demand
Test One
Consumer Behavior
Individual and Market Demand
Producer Behavior, Costs
Supply in Competitive Market
Test Two
Market Power and Monopoly
Pricing Strategies
Game Theory
Investment, Time, and Insurance
Test Three
Externalities and Public Goods

CHAPTER
1
2
3
4
5
6, 7
8
9
10
12
13
16

Thursday May 7 (last day of exam period) 1 to 4 pm

You can also take the exam with my other class on Thursday,
April 30, 1 to 4pm in this classroom

Instructions for EconPortal from the Publisher

1. Purchase an access card for EconPortal at the campus bookstore (either packaged with a
printed textbook or by itself). Then go to http://youreconportal.com and select the Register Your
Access Code link under Students towards the bottom left of the screen.
OR
2. Purchase instant access to EconPortal online. Go to http://youreconportal.com and select the
Purchase Online Access link under Students towards the bottom left of the screen. Find your
course on the page and click the Purchase link next to it. Follow the directions on the screen.
After Purchasing, Follow these Steps
1. Find the book you are using in your course.
2. Click on Register your Code beneath your textbooks title. NOTE: Be sure that you are
registering for the right course (selecting the right textbook)! The textbook you select should
match your access code cards.
3. Fill in the requested personal information to register for the course. When you registering, its
always best to use your school (college/university) email address. This will better enable your
instructor to communicate with you about assignments, announcements, etc.
4. During registration youll also be asked to follow the on-screen instructions to find your course.
Start by selecting your schools state/province, the school name, then your course/instructor,
and/or selections. Make sure you are selecting the right course/section! The course title
should list the class meeting times you use to verify that you are selecting the right
course/section.
5. Click Next at the bottom of the page; confirm the information on the following screen, and
click Create Account to complete the registration process. REMEMBER to write down your
password! Youll need to use this password every time you log-in.
Note: Students wont be able to change their email address once theyve registered.
Both you and your students should go directly to http://courses.bfwpub.com/gls1e to login to the
EconPortal course. Supply your email address and password and click LOG IN. You can also
always find your course by going to http://youreconportal.com.

To request support by email, please complete the support request form

http://support.bfwpub.com/supportform/form.php?View=contact. An agent will review the
issue and respond via email. If you do not see an automatic response email confirming we
have received your request, please call us at 800-936-6899.