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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?
Econ 111.01, Tuesday, Oct. 2/Econ
111.03 Wednesday, Oct. 3
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?
Econ 111.01, Tuesday, Oct. 30/Econ
111.03 Wednesday, Oct. 31
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?
Econ 111.01, Thursday, Nov.
29/Econ 111.03 Friday, Nov. 30
Final
Examination
Learning
Outcome
What is the
Standard Model of Market Economics: Its Strength & Weakness
TBA
Evaluation
5
Online
Tests
- 15%
3
Midterms -
45%
1
Final
Exam
- 40%
Online
Tests (OTs)
Five Online
Tests
(OTs)
are
posted
on
Blackboard:
(1)
Demand;
(2)
Supply;
(3)
The
Market; (4) Competition; and, (5) Market Failure.
They are
45
minutes
long
consisting
of
30
multiple
choice
questions.
They
can
be
done
anywhere
with
Internet
connexion. Three OTs (Demand, Supply, Markets) are due before the first
Midterm. One OT is due before Midterm 2 (Competition) and one OT before
Midterm 3 (Market Failure).
OTs must be completed by 11:59 pm the
night 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
OT
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 OTs turn into review
mode to help with the Final.
Practice Tests (PTs)
There
are also 5
corresponding Practice Tests (PTs). These are not for credit but do
provide immediate answers. I recommend doing the PTs before the OTs.
Midterms
&
Final
Examination
For
midterms
and
the
final
exam op
scan
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.
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. 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.
Midterms will be
held in class: 30 questions, 45 minutes. The
three
hour
(180
minute)
Final
Examination
will include
100
multiple
choice
questions
comprehensive
of
the
entire
Course.
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.
Please see “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
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