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Econ 302 Psu Homework Market

Course Syllabus for
Econ 302, Intermediate Microeconomics
Penn State, Second Summer Session 2011

Instructor: Frank Erickson
Grading Assistant: Bruno Teixeira
Prerequisite: Econ 002 or equivalent
Lectures: M-F 11:10 AM - 12:25 PM, 273 Willard

Office: 401 Kern Graduate Building
Office phone: 865-1108
Office Hours: TuTh 1:30-3:30 or by appt.
Email: fpe102 @ psu.edu
Textbook: Jeffrey M. Perloff, Microeconomics (PSU version) and Mark McLeod, Econ 302 Workbook

Web page:http://econ302.wikidot.com/ with grades on http://angel.psu.edu

Course Description

The goal of this course is to give you the core tools of microeconomics that will be applied widely in 400-level economics courses. We review the supply-and-demand model, and then cover consumer choice and exchange; the theory of production, perfectly competitive markets and welfare; and finally, monopoly, imperfectly competitive markets and other topics as time permits. A tentative outline is given below with relevant chapters from the textbook.

Economics is an analytical subject. You will learn to use inductive reasoning and other scientific methodology necessary to understand this and other (social) sciences. In short, you will learn to think like an economist.



There will be two midterm exams administered in class, on Friday, 15 July and Friday, 29 July. These will each count for 15% of your final grade. Some problem-solving skills will Econ 302 Psu Homework 1 required. The exams will cover material from all reading assignments, lectures, and preceding quizzes. Important points will be emphasized in class!

In addition there will be 10 short quizzes, covering recent material. These will take about 20 minutes of class (either the first or last, to be made clear by the day prior) every Wednesday and every Friday that is not scheduled for an exam. Your two lowest quiz grades will be dropped. The remaining 8 quizzes will each count 5% of your final grade, for a total of 40% of your grade.

The comprehensive final exam, administered on Friday, 12 August, will count 30% of your final grade.

The days quizzes and tests (already stated above) are marked with Q, M and F, respectively, in the chart on the right.

  • 2 Midterms: 15% each (30% total)
  • Best 8 quizzes: 5% each (40% total)
  • Comprehensive Final Exam: 30%

If you think an error has been made in the grading of your quiz or exam, you should contact me (not the grading assistant). Generally, I will not renegotiate partial credit for partially correct answers.


Although class attendance is not a criterion upon which your grade will be based, regular attendance is strongly encouraged. You will find that consistent class attendance and participation will "Econ 302 Psu Homework 1" increase your chances for success, as well as lightening your workload outside of class. In short, if you come to class, I will tell you what you need to know.

DO NOT MISS TESTS! Makeup exams will not be given. If you miss a midterm exam, you will receive a zero for that exam. Econ 302 Psu Homework 1 dates are listed in "Econ 302 Psu Homework 1" section on grading, above. Please be sure to check them now to ensure that there is no conflict with your schedule! In certain cases, you may receive an excused absence for an exam. The department's policy is described below. If you qualify for an excused absence for a midterm exam, the weight of that exam will be transferred to the subsequent exams.

Materials, course website and ANGEL

The primary textbook is Jeffrey M. Perloff's Microeconomics (PSU version). Mark McLeod's Econ 302 Workbook is good for practice and the source of my in-class numerical examples. Both books are available at the University Bookstore. I strongly recommend that you join a study group with at least one copy of the workbook.

I will use the course website for (i) posting presentation slides after class, (ii) archiving email announcements, (iii) clarifying the material you should know for upcoming quizzes and exams and (iv) linking to other study materials or resources. There is also space to comment on slides/presentations and a forum.

Readings from the textbook or online study materials may be assigned. Grades and email announcements will be handled via ANGEL.

Contact and Feedback

I will be available for office hours after class on Tuesday and Thursday from 1:30-3:30. For those who Econ 302 Psu Homework 1 make it after class, you can also send me an email to make an appointment. Feel free to make joint appointments with members of your study group. If coming to office hours or an appointment to go over a problem, please be prepared to show how far you have gotten with it, so we can work it out from there. As mentioned above, for any questions about grading, you should come to me, not the grading assistant.

This course will go fast, so if you need help with some of the material, you Econ 302 Psu Homework 1 come talk to me about it, bring it up in class, or — if it is a quick question — send me an email. You can also try posting your question to website's forum. When sending emails, please put Econ 302 in the subject box. You may include other information to indicate the nature of the email if you wish. You are encouraged to email me about any arrangements or special needs you might have.

The department's policy on feedback is as follows: “If you have any concerns about this course, please contact the instructor directly. Should you feel uncomfortable directing your concerns to the instructor, you could utilize the department suggestion box located on the window sill in 608 Kern. Any anonymous concerns will be communicated to the instructor.” (Any quotation marks in sections below also denote department or university policy.)


This outline represents a basic course plan that is subject to change. You are responsible for any changes announced in class and/or via email (I'll use ANGEL, as mentioned above).

  • Unit 1 — The supply-and-demand model. Ch 2, 3
  • Unit 2 — Consumer choice and exchange. Ch 4, 5, 10

Midterm 1: Friday, 15 June

  • Unit 3 — Production, perfectly competitive markets and welfare. Ch 6, 7, 8, 9

Midterm 2: Friday, 22 June

  • Unit 4 — Monopoly and imperfectly competitive markets. Ch 11, 13
  • Unit 5 (extra) — Pricing, strategy, design and externalities. Ch 12, 14, 18

Comprehensive Final Exam: Friday, 12 August

Disability Access

“The Pennsylvania State University encourages qualified people with disabilities to participate in its programs and activities and is committed to the policy that all people shall have equal access to programs, facilities, and admissions without regard to personal characteristics not related to ability, performance, or qualifications as determined by University policy or by state or federal authorities. If you anticipate needing any type of accommodation in this course or have questions about physical access let me know as soon as possible.”

Academic Integrity

“Penn State defines academic integrity as the pursuit of scholarly activity in an open, honest, and responsible manner. All students should act with personal integrity, respect other students’ dignity, rights and property, and help create and maintain an environment in which all can succeed through the fruits of their efforts (Faculty Senate Policy 49-02). Please see also the Department of Economics integrity statement on the department’s web site at: http://econ.la.psu.edu/undergraduate/index.html#aca_int ”

Valid Excuses and Missed Evaluative Events

The Department's policy is reproduced from http://econ.la.psu.edu/undergraduate/index.html#valid below. I will choose option "Econ 302 Psu Homework 1" whenever possible.

"During the course many possible situations may arise that would result in your inability to attend class, attend exams, or perform at a minimally acceptable level during an examination. Illness or injury, family emergencies, certain University-approved curricular and extra-curricular activities, and religious Econ 302 Psu Homework 1 can be legitimate reasons to miss class or to be excused from a scheduled examination.

"In the case of your own illness or Econ 302 Psu Homework 1, confirmation from a physician, physician's assistant, a nurse-practitioner, or a nurse is required. Be advised that University Health Services cannot provide such verification unless they have provided treatment and the student authorizes release of information to the instructor. Further, barring extraordinary circumstances, the confirmation must be available to the instructor prior to the Econ 302 Psu Homework 1 course event.

"With regard to family emergencies, you must provide verifiable documentation of the emergency. Given the vast array of family emergencies the instructor will provide precise guidance as to what constitutes adequate documentation. Unless the emergency is critical you should notify the instructor in advance of your absence from the scheduled course event. In cases of critical emergencies, you must notify the instructor within one week of your absence.

"For University-approved curricular and extra-curricular activities, verifiable documentation is also required. The student should obtain from the unit or department sponsoring the activity a letter (or class absence form) indicating the anticipated absence(s). The letter must be presented to the instructor at least one week prior to the first absence.

"In the case of religious holidays, the student should notify the instructor by the third week of the course of any potential conflicts.

"If a student misses Econ 302 Psu Homework 1 class during which an evaluative event (e.g., a quiz or an exam) takes place, and the student has a valid excuse, it is the policy of the Economics Department that the missed event may be made up in one of two ways that are to be decided by the instructor:

"1. the student will take a make-up version for the missed evaluative event; or 2. the student will be excused from the missed event, and the weight of that event in the overall course grade will be reassigned to either the course final exam or to a subset of the subsequent evaluative events in the course."

Course Overview





ECON 102


Web (Canvas, https://psu.instructure.com)


See the Calendar tab in Canvas.


See the Orientation page in Canvas.


The goal of this course is to give you the fundamentals of microeconomics that will be applied widely to 400 level courses in economics. We review supply and demand in competitive markets, and then cover consumer behavior, general equilibrium and welfare analysis, producer behavior, perfectly competitive markets, monopoly, oligopoly and strategic interaction between agents.

Economics is an analytical subject. You will learn to use inductive reasoning and other scientific methodology necessary to understand this and other (social) sciences. In short, you will learn to think like an economist.


This course is made up of 12 lessons.

For each lesson, you will complete the following activities and assignments:

  • Explore online course content.
  • Read a few assigned readings.
  • Complete ungraded practice problems

In addition, you will complete six sets of graded homework problems, and take two midterm exams and one final exam. The grade breakdown for these assignments is provided in the Assignments section of this syllabus.

Online Learning & Attendance

This course has been developed to promote asynchronous learning. The instructor and students do NOT meet on a designated day and time each week. For each lesson, there is a timeframe to complete all activities and assignments, and you may work at your own pace within that timeframe. However, you must adhere to the deadlines outlined on the calendar. (Click the Calendar tab in Canvas. Or check the Orientation page under the Modules tab.) You should log into the course daily to check for updates, review lessons, and participate in activities.


Final letter grades will be assigned based on the scale below.






















Due Dates

Please be aware that Canvas follows the Eastern Time (ET) time zone. Assignment due dates adhere to this time zone and it is your responsibility to submit them accordingly. If you are outside of the ET time zone, you can set your Canvas profile to sync to it.

All assignments are due by 11:59 PM Eastern Time on the date indicated on the Calendar. (Due dates can be also be viewed under the Syllabus tab.) Assignments will be available for submission until 4:00 AM Eastern Time the following day, but any submissions made between 11:59 PM and 4:00 AM will be marked late and points may be deducted at the instructor's discretion, up to and including all points, resulting in a zero. As a general rule, you will NOT be able to go back and make up missed assignments. It is your responsibility to keep up with your assignments. Students with an excused absence (e.g. hospitalization, jury duty, family emergency, or military service) may be asked to produce proper documentation in order to make up graded work. All make-up work is at the discretion of the instructor.

Veterans and currently serving military personnel and/or spouses with unique circumstances (e.g. upcoming deployments, drill/duty requirements, disabilities, VA appointments, etc.) are welcome and encouraged to communicate these, in advance if possible, to the instructor in the case that special arrangements need to be made.


  • To Do List: Some assignments may not appear in the To Do list under the Home tab. Use the Calendar or Syllabus to ensure that you are fully aware of assignment due dates.

Valid Excuses

A major advantage of an online course is the flexibility it affords students for doing assignments. All assignments are intended to be accessed and completed within a window of several days duration, and can be done from anywhere in the world. (The necessary technology, even if you are not at home, will frequently be available at internet cafes, copy shops, or libraries.) The dates of these assignments have been provided to you well ahead of time in the course calendar. Given this flexibility, an unexpected event that makes it impossible for a student to complete an assignment on time should be very rare. It is expected that students plan ahead and allocate their time accordingly

In general, there will be no extensions given on the weekly lesson assignments (quizzes and homework). This is because the course is already set up to accommodate occasional extenuating circumstances by dropping the lowest single homework grade. Early access to exams or extensions on exams will only be given in the case of a valid conflict, and a student must inform the instructor as early as possible if they anticipate being unable to complete the exam within the assigned window. Valid conflicts are items that make it impossible for a student to complete the assignment at the scheduled time, primarily including illness, hospitalization, or family emergencies. Travel plans (except as required by university-sponsored activities) DO NOT constitute a valid conflict. Students should plan to be available online until they finish the assignment. Encountering technical problems at the last minute is not a valid conflict. For more information on valid excuses, please see the Department of Economics policy on valid excuses, which is available at the Department website.

University Policies

Academic Integrity

Penn State defines academic integrity as the pursuit of scholarly activity in an open, honest and responsible manner. All students should act with personal integrity, respect other students' dignity, rights and property, and help create and maintain an environment in which all can succeed through the fruits of their efforts.

Dishonesty of any kind will not be tolerated in this course. Dishonesty includes, but is not limited to, cheating, plagiarizing, fabricating information or citations, facilitating acts of academic dishonesty by others, having unauthorized possession of examinations, submitting work of another person or work previously used without informing the instructor, or tampering with the academic work of other students. Students who are found to be dishonest will receive academic sanctions and will be reported to the University's Judicial Affairs office for possible further disciplinary sanction. For further information, please read University Faculty Senate Policy 49-20 at http://senate.psu.edu/policies-and-rules-for-undergraduate-students/47-00-48-00-and-49-00-grades/#49-20.

Disability Access

Penn State welcomes students with disabilities into the University's educational programs. Every Penn State campus has an office for students with disabilities. The Student Disability Resources website providescontact information for every Penn State campusat http://equity.psu.edu/student-disability-resources/disability-coordinator. For further information, please visit theStudent Disability Resources websiteat http://equity.psu.edu/student-disability-resources.

In order to receive consideration for reasonable accommodations, you must contact the appropriate disability services office at the campus where you are officially enrolled,participate in an intake interview, and provide documentationdescribed at http://equity.psu.edu/student-disability-resources/applying-for-services. If the documentation supports your request for reasonable accommodations, your campus’s disability services office will provide you with an accommodation letter. Please share this letter with your instructors and discuss the accommodations with them as early in your courses as possible. You must follow this process for every semester that you request accommodations.

Counseling and Psychological Services

Penn State's Counseling and Psychological Services (CAPS) office offers residential and distance-based Penn State students non-emergency mental health services in the form of case management, community resource referrals, supportive listening, care giver support, and much more.

Students may request assistance from CAPS regarding a variety of common mental health issues, including anxiety, depression, relationship difficulties, and stress. CAPS services are designed to enhance students' ability to fully benefit from the University environment and academic experience. Call CAPS at 814-863-0395 (8 am-5 pm, Monday-Friday EST) or submit an inquiry online (Links to an external site.) at http://studentaffairs.psu.edu/counseling/contact_form.shtml to schedule an appointment with a mental health advocate, who can help you address mental health concerns that may interfere with your academic progress or social development. This appointment will include a one-on-one session that can be conducted via telephone, teleconference (Skype, FaceTime, etc.), or locally at Penn State University Park. For more information on services provided through CAPS, please visit the Penn State CAPS websiteat http://studentaffairs.psu.edu/counseling/. Students enrolled at the World Campus are also encouraged to visit its Mental Health Services page (Links to an external site.) at http://student.worldcampus.psu.edu/student-services/mental-health-services.

Reminder: These services are for non-emergencies only. If you or someone you know is experiencing a crisis situation, please call your local crisis center or 911.


Penn State is committed to equal access to programs, facilities, admission and employment for all persons. It is the policy of the University to maintain an environment free of harassment and free of discrimination against any person because of age, race, color, ancestry, national origin, religion, creed, service in the uniformed services (as defined in state and federal law), veteran status, sex, sexual orientation, marital or family status, pregnancy, pregnancy-related conditions, physical or mental disability, gender, perceived gender, gender identity, genetic information or political ideas. Discriminatory conduct and harassment, as well as sexual misconduct and relationship violence, violates the dignity of individuals, impedes the realization of the University's educational mission, and will not be tolerated. For further information, please visit the Affirmative Action Office Website at http://www.psu.edu/dept/aaoffice/.


The materials on the course website are only for the use of students enrolled in this course for purposes associated with this course and may not be retained or further disseminated.

University Emergency Procedure

In the event of a University-wide emergency, the course may be subject to changes. Exigent circumstances may require alternative delivery methods, class materials, and interactions with the instructor and/or classmates. In addition, there may be revisions to grading policies and the Calendar, including assignments and their due dates.

In the event of a University-wide emergency, please refer to the Canvas website at https://psu.instructure.com for specific information related to the course. For more general information about the emergency situation, please refer to the Penn State website at http://www.psu.edu or Penn State News at http://news.psu.edu.

To register with PSUAlert, a service designed to alert the Penn State community when situations arise that affect the ability of a campus to function normally, please go to https://psualert.psu.edu/. Subscribers can receive alerts by text message to cell phones, and also can elect to have alerts sent to an email address.

Syllabus Subject to Change

The class will likely adhere to the information outlined in this Syllabus and the Calendar, but adjustments may be made based on what actually transpires during the semester. Remaining in the course after reading this Syllabus will signal that you accept the possibility of changes and responsibility for being aware of them.

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