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THEME
The Standard Model of Market Economics: Demand, Supply, Markets,
Competition & Market Failure
1.
Introduction: Concepts
Ch. 1: Ten Principles of Economics
Ch. 2: Thinking like an Economist
2.
Demand
Ch. 21: Theory of Consumer Choice
3.
Supply (Theory of the Firm)
Ch. 13: The Costs of Production
4.
The
Market
Ch. 4: The Market Forces of Supply & Demand
Ch. 7: Consumers, Producers and the Efficiency of Markets
Ch. 6: Supply, Demand and Government Policies
1st Midterm Test
Learning Outcome
What is the
Standard Model of Market Economics?
In Class
111.03 Oct. 16
111.05 Oct. 17
111.07 Oct. 17
5.
Competition
Ch. 14: Firms in Competitive Markets
Ch. 15: Monopoly
Ch. 16: Monopolistic Competition
Ch. 17: Oligopoly
2nd Midterm Test
Learning Outcome
What are the
different forms of market competition?
In Class
111.03 Nov. 15
111.05 Nov. 16
111.07 Nov. 16
6.
Market Failure
Ch. 10: Externalities
Ch. 11: Public Goods and Common Resources
Ch. 22:
Frontiers of Microeconomics
3rd Midterm
Learning Outcome
What is
Market Failure?
In Class
111.03 Dec 4
111.05 Dec. 5
111.07 Dec. 5
Final
Examination
Learning
Outcome
The Standard Model of Market Economics: Strength & Weakness
TBA
111.03
111.05
111.07
Evaluation
6 Practice Quizzes 0%
6 Online Assignments: 15%
3 Midterms: 45%
1 Final Exam:
40%
100%
The lowest grade you can obtain will be calculated using the above
formula. However, I apply 'progressive marking' meaning I
compare your calculated average using the formula with your Final
Exam grade. If the Final Exam grade is higher than the
calculated average your final grade will be increased by half of the
difference between your calculated average and the Final Exam grade.
Practice Quizzes (PTs)
There
are also 6
Practice Quizzes (PQs)
posted
on Canvas:
(1)
Intro; (2)
Demand;
(3)
Supply;
(4)
The
Market; (5) Competition; and, (6) Market Failure. These are not for credit but do
provide immediate answers. I recommend doing the PQs before the
OAs.
Online
Assignments (OAs)
Six Online
Assignments
(OAs)
are
posted
on Canvas:
(1)
Intro; (2)
Demand;
(3)
Supply;
(4)
The
Market; (5) Competition; and, (6) Market Failure.
They are
45
minutes
long
consisting
of
30
multiple
choice
questions.
They
can
be
done
anywhere
with
Internet
connexion.
Four OAs (1-4 Intro, Demand, Supply, Markets) are due before Midterm 1;
OA 5 is due before Midterm 2 (Competition); and ,
OA 6 before
Midterm 3 (Market Failure).
OAs must be completed before each midterm.
Ensure,
however,
that
you
set
aside
sufficient
time
(45 minutes) for
the
Test.
There
is no
pause.
Once
started
they
must
be
completed.
Students
will
have
five
attempts
for
each
OA
with
the
highest
mark
counting
towards
the
Final
Grade. The
five
attempts
are
intended
to
negate
any technical
disruptions. DO
NOT WAIT UNTIL THE LAST MINUTE! After each midterm OAs turn into review
mode to help with the Final.
Midterms
(MTs)
Midterms will
be held in class. For
midterms
and
the
final
exam
opscan sheets
are
used.
Read
the
instructions
carefully.
Each
Student
must
use
a
lead
pencil
'to
fill
in
the
dots'
and
code
their
Student
NSID
correctly.
Each
Student
is
responsible
for
the
legibility
of
their
opscan
sheet.
Fresh
sheets
will
be
issued
any
time
during
an
exam.
No
additional
time
will
be
allowed
to
copy
a
sheet
or
make
corrections
after
the
testing
period.
Failure
to
correctly
code
a
Student's
NSID
will
result
in
delay
of
results.
Each Midterm consist of 30
multiple choice questions answered in 45 minutes, i.e., identical
in format to PQs and OAs. Each Midterm is 'stand alone'.
Material from previous Midterms will not be asked in a subsequent
Midterm. There are no
deferred midterms.
The weight
of a
missed
midterm
may
be
transferred
to
the
Final
Examination
on
condition
documentation
is
provided
for
acceptable
cause
such
as
sickness,
family
emergency,
jury
duty,
etc. Students engaged in university
or professional events including sports also qualify, with
documentation, for a transfer of a missed midterm’s mark to the Final
Examination. To repeat, there are no deferred midterms.
Students who
have booked vacation trips before the start of classes and that conflict
with the midterm exam schedule must contact me during the first week of
classes to qualify for a transfer of midterm grades to the final exam.
Final
Examination (FE)
The FE is comprehensive of all course material. There will be 100
multiple choice questions to be answered within 180 minutes or 3 hours.
Technical Difficulties
In
general, you are responsible for your tech. I am not a
technician. Accordingly, in the case of non-credit
activities like accessing PAWS or reading Lecture
Notes, it is on you and ICT at USASK -
itsupport@usask.ca. They are there to help you.
Grade Scheme
Please see:
http://students.usask.ca/academics/grading/grading-system.php#GradingSystem
USASK Policy on Academic Dishonesty
Please take note that plagiarism and
other forms of academic dishonesty is subject to severe penalty at
the University of Saskatchewan. “Student Academic Dishonesty
Rules of the University of Saskatchewan Council" (September 2000)
are posted at
http://www.usask.ca/university_council/reports/09-27-99.shtml |