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ECO 240-02, Fall 2002

The Course at a Glance

Goals

Explain basic and intermediate microeconomic concepts and apply them to new situations. Demonstrate command of basic and intermediate microeconomic concepts and graphical models.
 

Contents

Reservation prices, supply and demand, comparative statics analysis, elasticity, preferences, budgets, consumer choice, consumer demand, production, cost of production, price-taking firms, the competitive product market, price-setting firms, input markets, wage-setting firms.
 

Web site

http://www.ilstu.edu/~mswalber/ECO240/ (information, syllabus, schedule, tutorials, Excel workbooks, online quizzes, online discussion board)
 

Instructor

Mark Walbert (mswalber@ilstu.edu, ITDC 105)
 

Office Hours

Just before (5-5:30) and immediately following each class in Stevenson Hall 438.
 

Prerequisites

A good grasp of freshman economic principles (ECO 105) and have retained much of what you learned in calculus (MAT 121) and statistics (ECO 138).
 

Materials

All available at the course Web site.
 

Grading

Absolute scale (details on Web site).
 

Classes

Tuesdays and Thursdays, 5:30-6:45 pm, in Stevenson Hall 438.

Purpose: address conceptual difficulties, deepen understanding, develop analytical thinking skills.
 

Good Faith Efforts (12.5%)

Daily writing and graphing assignments due at the start of each class.

Purpose: To lead you through your first exposure to the new material, engage you in the assignment, and help you gain an understanding of the Tutorials.
 

Online Quizzes (25%)

Weekly online quizzes due on most Monday's at midnight.

Purpose: To help you monitor your understanding of each Tutorial's key concepts and graphs.
 

Projects (37.5%)

Four writing and problem solving projects due 18 Sep., 17 Oct., 26 Nov., and 6 Dec.

Purpose: To give you practice applying microeconomic theory to real world events (News Analysis Folders), apply your data analysis skills learned in statistics to microeconomics (Regression Analysis), and to display your mastery of the interrelations between competitive product and input markets (General Equilibrium Analysis).
 

Literacy Tests (25%)

One midterm (10 Oct.), and one final (date set by Registrar).

Purpose: Evaluation and assessment.