STUDENTS: CHECK THE

LECTURE SCHEDULE ON
THIS SYLLABUS
Principles of
FREQUENTLY FOR UPDATES Microeconomic Theory
Economics 200
Spring 2010 Professor: Alka Gandhi
Lecture: TTh 12:30-1:45pm in TYD 130 Office: Morrill Hall 1105B
See your schedule for your discussion section Office phone: 301-405-3509
Email: gandhi@umd.edu
Office hours: TTh 11am-12:15pm

Teaching Assistants:
Orathai Sujitprapakorn
Sections: 2203, 2206
Office: TYD 4121
Office phone: 301-405-8578
Email: orathai@umd.edu
Office hours: W 10am-1pm
Weija Dai Orhan Torul
Sections: 2207, 2208, 2210 Sections: 2209, 2211, 2214
Office: TYD 5102 Office: MOR 0101
Office phone: 301-405-3524 Office phone: 301-405-3547
Email: dai@econ.umd.edu Email: torul@econ.umd.edu
Office hours: M 12-1pm, 2-3pm; F 10-11am Office hours: Th 11am-2pm

Sergio Diaz Seon Young Yoon

Sections: 2202, 2205, 2213 Sections: 2201, 2204, 2212
Office: TYD 4101D Office: TYD 4128
Office phone: Office phone: 301-405-6849
Email: diazs@econ.umd.edu Email: yoon@econ.umd.edu
Office hours: M 11am-1pm, W 11am-12pm Office hours: M 11am-12pm, T 2-3pm, F 10-11am

Textbook and other materials:

• Hubbard, R. Glenn and Anthony Patrick O’Brien, Microeconomics, 3rd edition, Boston, MA: Prentice Hall, 2010.
• All homework and quizzes must be submitted online using “MyEconLab” at www.myeconlab.com using the access
code that you must purchase. You will need our class’s course ID which is XL0G-P1JV-201Y-6XL2. There will be
a demonstration in class on February 2nd. You may also reach this site through the link that says “MyEconLab” from
the course ELMS webpage.

• Additionally, you can access the course website at www.elms.umd.edu.The website contains the most current
version of this syllabus, important links to course documents such as sample exams and lecture outlines and any
announcements. Please note: I do not post my PowerPoint slides.

Course objective:
Perhaps contrary to what you think, economics is the study of making optimal choices in a world of scarce resources.
There are two main branches of economics: microeconomics and macroeconomics. “Micro” deals with decisions on
an individual and firm level; whereas, “macro” deals with decisions on a national and international level. This course
is an introduction to the former. In addition to basic economic models, such as supply and demand, you will be
learning about issues that deal with how people, firms and governments can make optimal choices. The aim of this
course is to provide you with the tools to understand and examine major topics in microeconomics. Economics can
even help you to make decisions that affect your everyday life - professionally and personally.

Grading:
1. Problem Set - There will be five problem sets that will be completed and submitted via MyEconLab. You
must pay and register to use the MyEconLab system. It is the only way for you to submit your problem sets. If you
have technical problems, contact the tech support at MyEconLab. If you have content questions about your problem
sets, contact your teaching assistant or the professor.

• Sunday, February 14 – problem set 1 due by 10pm

• Sunday, February 28 – problem set 2 due by 10pm
• Sunday, March 28 – problem set 3 due by 10pm
• Sunday, April 11 – problem set 4 due by 10pm
• Sunday, May 2 – problem set 5 due by 10pm

NO MAKE-UP PROBLEM SETS WILL BE ACCEPTED. Each problem set is worth 4% of your grade except
for the lowest score, which will be dropped. If you miss one of these assignments, it will simply be the one dropped
from your problem set grade. I would recommend that you complete all of the problem sets that you can as you never
know when something may prevent you, surprisingly, from submitting an assignment.
Problem set assignments will be available online using MyEconLab at least one week before the deadline. Once
homework assignments are posted, you have as much time as you would like to complete these assignments before
the due date and may attempt each question over and over until you have the score that you want until the due date.

2. Quizzes – There will be five quizzes that will be completed and submitted via MyEconLab. You must pay and
register to use the MyEconLab system. It is the only way for you to submit your quizzes. If you have technical
problems, contact the tech support at MyEconLab. If you have content questions about your homework, contact
your teaching assistant or the professor. Remembering the Code of Academic Integrity that all students enrolled in
this class have agreed to honor, the quizzes must be finished online by the following times:

• Sunday, February 21 – quiz 1 due by 10pm

• Sunday, March 21 – quiz 2 due by 10pm
• Sunday, April 4 – quiz 3 due by 10pm
• Sunday, April 18 – quiz 4 due by 10pm
• Sunday, May 9 – quiz 5 due by 10pm

NO MAKE-UP QUIZZES WILL BE PERMITTED. Each quiz is worth 4% of your final grade except for your
lowest score which will be dropped. If you miss one of these assignments, it will simply be the one dropped from
your quiz grade. I would recommend that you complete all of the quizzes that you can as you never know when
something may prevent you, surprisingly, from submitting an assignment.
Quizzes will be available online using MyEconLab at least one week before the deadline. Unlike the homework,
you only get one attempt to answer each question. Also, you only have one hour to finish these quizzes. Make
sure that you finish the quiz and submit it in the allotted time or you will be unable to submit it for credit.

2. Exams - There will be two semester exams given during the main lecture class. On the ELMS course
webpage, you can access sample exams through the link entitled “Course Documents” then click “sample exams.”
Keep in mind that some questions on the sample exams may not be valid if we get behind in our schedule of topics.
When in doubt about the material for each exam, ask me. The exam dates are:

• Thursday, March 4 – exam 1

• Tuesday, April 20 – exam 2

NO LATE MAKE-UP EXAMS WILL BE PERMITTED. Each of the semester exams is worth 19% of your final
grade. The final exam is worth 30% of your final grade. If you miss either exam, you will not be allowed to make it
up. The weight of the missed exam will be added to the weight of your final exam; e.g. if you miss exam 1 or 2, your
final exam would be worth 49% of your final grade. If you miss both exams, your final exam will be worth 68% of
your grade.

• The final exam will be on Tuesday, May 18 from 1:30-3:30pm in our main classroom. If all semester exams
are taken, the final exam will be 30% of your grade.
Because microeconomics is a subject which builds upon itself, the final will be comprehensive. If you miss your
final exam and we are able to schedule a new one for you (no guarantee on that), it may not be in the same
format as the one that the rest of the class took at the correct time. The format can vary from a set of short-
answer questions only to an oral final exam. Any of the material from the entire course may appear on this
version of the final. You would be well advised not to miss your scheduled final exam.

In an effort to maintain morale, all grades will be computed as mentioned above and, also, computed as if the final
were weighted 49% and the lowest exam score did not exist. Whichever score is higher (each exam = 19%, final =
30% OR lower semester exam = 0%, other exam = 19%, final = 49%) will be your grade. In this way, you will have
a chance to recoup your losses from a bad performance on an exam by doing well on the final. Note: those who miss
a semester exam do not have this option. Their grade will be computed by the latter method only.

The grading distribution will be determined after the final grades are completed. There is no set distribution. It is,
therefore, possible that everyone can earn ‘A’s (or ‘F’s). If the average final grade is low, I will curve the final
grades after they have all been computed. You should not count on this curve as it is purely dependent upon the
collective performance of the class.

Be on time for the exams. You will have the full class period to take each exam.

In summary:
Problem sets = 16% (four highest scores worth 4% each)
Quizzes = 16% (four highest scores worth 4% each)
Semester exams = 38% (2 exams worth 19% each)
Comprehensive final exam = 30%

STUDENTS: READ THIS

PARAGRAPH BEFORE
EMAILING ME ABOUT
YOUR FINAL GRADE
Classroom and general etiquette:
Grades are not negotiable. After final grades have been submitted, they will not be changed for any reason other
than a mistake in grading having been made. Any questions about grades for particular assignments, other than the
final exam, must be presented prior to the last day of class. No assignment or exam grades (other than the final
exam) will be reviewed after the last day of class. All grades (except for the final exam) will have been posted
before the last day of class; you are responsible for making sure that my recorded grades match the ones you
received. Making requests for special favors such as bonus points, extra work after the course has ended or any
similar request is unethical and unfair, at best, and cheating, at worst.

During class, I encourage you to ask questions or make comments. Please give me feedback (within reason!) about
how you think that the course is going and voice your concerns (e.g. I am going too quickly; my chalkboard writing
is illegible; etc.). Constructive criticism will not be held against you and can only help your chances of doing well in
this class.

You are permitted to use standard calculators for all of the exams; no mobile phones, PDAs or any other device with
calculator capabilities are permitted as calculator substitutes.

Turn off all mobile phones for the duration of all classes and exams unless receiving special permission from me.
Disruptive students will be asked to leave class.

You are permitted to use technology when taking notes provided that you are not disruptive to any members of the
class. If your use of technology becomes disruptive at all, you will be asked to discontinue its use and referred to the
Economics Director of Undergraduate Programs. If the problem persists, you will be referred to the Office of
Student Conduct.
STUDENTS: READ THIS PARAGRAPH
BEFORE EMAILING ME ABOUT ANY
INFORMATION YOU MISSED BECAUSE
YOU SKIPPED CLASS
If you miss this class, you will incur the costs and/or benefits of your decisions. Do not ask me to give you class
notes, if you may submit homework late, or if you may take exams late. Additionally, this means that you are
responsible for getting any announcements or handouts from the class that you have missed.
STUDENTS: READ THIS
PARAGRAPH BEFORE
EMAILING ME OR THE TAs

If you email me or the TAs, please include your name and in which class of mine you are a student in every email. I
have many students and having this information will provide me with the correct frame of reference for your
questions. You should also consult the syllabus first where you may find your question has already been answered.
Additionally, you should always use complete words and sentences in your email so that I may be able to help with
exactly what you need. I aim to reply to emails within 24 hours during the week. If you have not heard from me
within this 24 hour window (note: on weekends, my replies usually will take longer), please feel free to email me
again as I may have not received your original email.
STUDENTS: READ THIS PARAGRAPH
BEFORE ASKING ME FOR A
RECOMMENDATION

If you want a recommendation from me, you must ask me in person. You must also have received an ‘A’ in any
classes of mine that you have taken. (Note: this means if you are currently taking a class with me, you must wait
until your grade has been determined until asking for a recommendation.) These are the minimum requirements but
the better I know you, the better your recommendation will be. I suggest that you ask me for a recommendation only
if you have satisfied the above and we have had several (positive) interactions such that I have more on which to
base a recommendation than your ‘A’ in my class.

“The University of Maryland, College Park has a nationally recognized Code of Academic Integrity, administered
by the Student Honor Council. This Code sets standards for academic integrity at Maryland for all undergraduate
and graduate students. As a student, you are responsible for upholding these standards for this course. It is very
important for you to be aware of the consequences of cheating, fabrication, facilitation, and plagiarism. For more
information on the Code of Academic Integrity or the Student Honor Council, please visit
http://www.shc.umd.edu.” (The Student Honor Council)
I assume that your enrollment in this course means that you have agreed implicitly to uphold this Code. Ignorance
of its content is not a valid excuse for violating it.

If you have two other finals on the same day as our final, you must inform me by April 9th that you need an alternate
date to take the final exam. Otherwise, I will be unable to make such accommodations for you.

Students with disabilities who require special accommodations must get in touch with me within the first three
weeks of class. Thereafter, you must abide by all of the protocol of Disability Support Services in order to allow me
to comply with your special needs.

CourseEvalUM will be open for you to complete your evaluations for fall semester courses from Tuesday, April 27
through Wednesday, May 12. You may submit your evaluation at www.courseevalum.umd.edu. By completing all
of your evaluations each semester, you will have the privilege of accessing online, at Testudo, the evaluation reports
for the thousands of courses for which 70% or more students submitted their evaluations.

Lecture schedule:
Exam dates are pre-set and will not change; be sure not to miss them. Problem sets and quiz due dates are also pre-
set but may change depending upon the pace of the class. Any changes to these dates will be to extend them (never
shortened) and will be specified below as well as announced in class. The lecture dates are tentative, depending
upon how quickly we go through the material. Feel free to ask if you are not sure what readings you should be doing
for any certain class period. Specific chapters and sections that each quiz covers will be posted below one week
before the quiz due date. I do not post my PowerPoint slides but outlines for each lecture are posted under “course
documents.”
Note: This syllabus is meant as a rough outline; changes to this schedule will be posted below in purple. Hence, you
should consult the syllabus online periodically for any such changes.

I. The basics…
Jan. 26-28: Getting started (Hubbard ch. 1) STUDENTS: CHECK THIS PART OF
Jan. 28-Feb. 4: Production Possibilities Frontier (Hubbard ch. 2) THE SYLLABUS FREQUENTLY
Feb. 4-18: Supply and Demand (Hubbard ch. 3 & 4); FOR UPDATES
Problem set 1 due Sunday, February 14 by 10pm
Feb. 18-Mar. 2: Elasticity (Hubbard ch. 6 and ch. 4 pp. 112-117)
Quiz 1 due Sunday, February 21 Wednesday, February 24 by 10pm – covers chapter 3
Problem set 2 due Sunday, February 28 Wednesday, March 3 by 10pm

Mar. 4: Exam 1

II. Firm Behavior and Industrial Organization

Mar. 9-23: The firm’s production and costs (Hubbard ch.10);
STUDENTS: NOTE THAT THIS QUIZ IS DUE
MARCH 15-19: SPRING BREAK THE SUNDAY AFTER SPRING BREAK BUT IT
WILL BE AVAILABLE FOR YOU TO TAKE AS
Quiz 2 due Sunday, March 21 by 10pm EARLY AS SUNDAY, MARCH 7. PLAN
Mar. 23-30: Perfect competition (Hubbard ch. 11);ACCORDINGLY!
Problem set 3 due Sunday, March 28 by 10pm
Mar. 30-Apr. 6: Monopoly (Hubbard ch. 14, pp.496-505)
Quiz 3 due Sunday, April 4 by 10pm – covers pp. 382-391 and pp. 462-473
Apr. 6-15: Monopolistic Competition and Oligopoly (Hubbard ch. 12 & 13)
Problem set 4 due Sunday, April 11 April 18 by 10pm

Apr. 20: Exam 2

IV. The Public Sector

Apr. 22-29: Market Failure (Hubbard ch. 5 and ch. 17 pp. 558-567);
Quiz 4 due Sunday, April 18 by 10pm – covers chapter 13 sections 1 and 2 only

V. Consumer choice
Apr. 29-May 6: Consumer choice (Hubbard ch. 9);
Problem set 5 due Sunday, May 2 by 10pm

VI. Factor Markets (time permitting)

May 6-11: Labor, land and capital (Hubbard ch. 16)
Quiz 5 due Sunday, May 9 by 10pm– covers chapter 9, section 1 and appendix only

May 11: Finish material and review – bring your questions.

Comprehensive Final Exam on Tuesday, May 18 from 1:30-3:30pm. Be

on time!!
The lectures I deliver in this class and the course materials I create and distribute are protected by federal
copyright law as my original works. My lectures are delivered from written lectures in order to ensure copyright
protection. You are permitted to take notes of my lectures and use course materials for your use in this course. You
may not record, reproduce, or distribute my lectures/notes for any commercial purpose without my written consent.
Persons who sell or distribute copies or modified copies of my course materials, possess commercial copies of my
notes (i.e. Terpnotes), or assist another person or entity in selling or distributing those materials may be considered
in violation of the University Code of Student Conduct, part 9(k).