Eco 101 Principles of Microeconomics

1. Eco 101 Principles of Microeconomics Section 830 MWF 11:30- 12:25 Mahar 204 Welcome!

2. Dr. Liz Dunne Schmitt • Dr. Liz • Dr. Schmitt • 431 Mahar • x3455 • edunne@oswego.edu • Office hours: • MW 10 -11:20, T 11:15-12:15 and by appt.

3. Today • Syllabus • Intro to economics

4. What will we be studying? Eco 101 is the first economic theory course • basic foundation of economics • tools of discipline

5. Look at • buyer and seller behavior (markets) • role of government in markets • consumer choice • producer behavior • determinants of income and poverty

6. Why have energy prices risen (fallen)?

7. Why does NYC rent control not work?

8. Is Microsoft a monopoly?Why do we care?

9. Is college worth the cost?

10. What causes the gender wage gap?

11. Why do airlines require a Saturday night stay for a low fare?

12. Course Materials Required: Intro to Microeconomics (2e) Edwin G. Dolan in both bookstores ($24 new)

13. Recommended course web site • URL at top of the syllabus • contains • course information • lecture notes • exam study guides • homeworks & answer keys

14. lecture notes • Powerpoint slides • You can print them 3-6 to a page

15. Email list • I send email about • Grades • Announcements • Course information • I only use Oswego email address

16. if you use another email address • forward your campus email to the account you use • link to email forwarding on the course web page

17. Eco 101 tutor • hours TBA • but please see me too!

18. Grading Policy 500 points total: • 3 exams during the semester (100 pts. each) • final exam (100 pts.) • 6 homeworks (20 pts. each, lowest dropped) • extra credit (at least 10 pts.) • grading scale in the syllabus

19. exams 1, 2, 3 • multiple choice & short answers/problems • re-weighted at end of the semester • 10% on lowest score • 30% on highest score

20. final exam • cumulative • NOT re-weighted

21. How do I find out my grades? • exams & homework handed back • Grades will NOT be posted outside my office • I will email exam scores using your campus email address • name@oswego.edu No grades over the phone!

22. Makeups • planned absence: 1 week’s notice • emergencies: case-by-case • must be an excused absence! • must be documented! • makeups may be essay exams or I may reweight other exams

23. Attendance • regular attendance is expected • attendance is taken • you are responsible for information conveyed in class • attendance is necessary to earn extra credit

24. Please be respectful of your classmates • be on time • do not talk during lecture • do not have your phone on

25. Cheating • you cheat, I catch you, you fail the course • I have the right to ask you to move seats prior to or during an exam • programmable calculators (e.g. TI-83),translators, phones, PDAs, etc. are NOT allowed in exams

26. Course Schedule • in syllabus • note exam dates, homework due dates • note the final exam date & time

27. Tips for success • come to class with lecture notes to follow & augment • read the book!! • weekly “look-through” • ask for help (ME or the tutor or ME) • use available resources • course web site

28. Why you should pass this course.

29. Why you should try to learn something in this course. Percentage of wage dispersion explained by skill factors. Huge variation in earnings of low vs. high-skilled college graduates

30. I know this course is not easy for many students • Worthwhile things seldom are. • We all learn and grow when we are challenged. • If you are struggling, use the resources available for help.

31. if you need special accommodations, see me • if you are having problems in the course, see me sooner NOT later

32. My professional obligations • Punctuality • Availability outside of class • Office hours, appt., voicemail, email • Timely, detailed feedback • Transparent grading • Professional conduct • Mastery of content