Spring Semester 2005-06
MWF 10:00-10:50 a.m.
Science Center 58
Professor Joyce Jacobsen
Office: 332 PAC
E-mail: jjacobsen@wesleyan.edu
Phone: 685-2357 (o), 344-8514 (h), 836-6022
(cell)
Office hours: MTWThF 1:00-4:00 p.m.: walk-in
whenever
door is open; also available by appointment
Teaching Assistants: Josh Atwood, Taylor Bentley, Christian Goble, and Katherine Michelmore
Help sessions: W 7-8 pm PAC 004
(Christian), W 8-9 pm PAC 004 (Kathy), Th 6-7 pm PAC 004 (Josh), F 2-3
pm PAC 107 (Taylor)
Lectures: You are responsible for all assigned reading whether or not the material is covered explicitly in class. You are also responsible for material introduced in class that is not in the textbook. In the lectures I will focus on the most important topics as well as on those that are more difficult to comprehend. Please ask questions as they arise. I encourage you to comment on the level, pace, and content of the course as it progresses, in person, by e-mail, or by phone. The lecture presentation materials are available through the course schedule below shortly after each lecture.
Readings: The course text is Baumol and Blinder, Economics: Principles and Policy, Ninth Edition. Any chapter numbers or page numbers in the course schedule refer to this text. You may use a different introductory textbook or a different edition if you so choose, but it will then be your responsibility to see how your book relates to the assigned readings in the course. Additional short items will be handed out occasionally in class and/or posted on this webpage. You are also expected to be aware of current economic events and should plan on reading relevant periodicals regularly (e.g., Economist, Financial Times, New York Times, and/or Wall Street Journal).
Coursework and Grades: There will
be six problem sets, two in-term tests, a book review, and a final
exam. Attendance will also be counted. The weights of the
different course components in your course grade are:
| Problem sets (5% each) |
30%
|
| In-term tests (10% each) |
20%
|
| Attendance |
10% |
| Book review |
10%
|
| Final exam |
30%
|
| Total |
100%
|
If you want to check the recording of your grades, click here to go to the GradeGetter Page for Econ 101.
Problem sets are handed out every other
Friday in class (starting on February 3), are due by 6 p.m. on the
following Friday, and can be put in the Econ 101 slot in the alcove
next to the economics department office or dropped off at class on
Friday or at my office. Problem sets handed in late will be penalized
unless an agreement is made ahead of time with me. Graded problem sets
and tests that are not picked up in class will be filed by last name in
the alphabetical slots in the alcove.
Review sessions
will be scheduled before the tests and the final exam, exact times to
be announced later. So as to reduce time pressure, the two
in-term tests will be scheduled to occur during a flexible block
outside of class time, exact block times to be announced later.
We will be
using clickers in the course. Here is the handout
describing use
of clickers. I record attendance based on
clicker use, but without regard to whether or not you answer any
question correctly.
Here is the handout describing the book review and
listing possible books.
Honor Code: All work handed in must
be your own and must be done for this course only. This does not mean
that you must refrain from discussing problems with other students as
an aid to understanding the material, but it does preclude copying
other students' work. You are expected to discourage such behavior on
the part of others. This distinction is generally clear enough to make
in practice; when in doubt, please discuss it with me.
Credit/Unsatisfactory
Provisos: You have to get a D- or better in order to get credit
for the course. If you are taking the course on a credit/unsatisfactory
basis, if you attend class regularly, hand in all six problem sets and
your book review complete and on time, and pass both in-term tests,
then you do not have to take the final exam.
| Introduction and overview | Ch. 1 | ||
| Basic economic concepts |
Chs. 2, 3 |
||
| Feb. 3, 6, 8, 10, 13, 15 |
Demand and supply | Chs.
4, 5, 6, 7 |
|
| ps 1 (due
Feb. 10) |
|||
| Feb. 17, 20, 22, 27 |
Market
structures |
Chs.
8, 9, 10, 11 |
|
| Feb. 17 |
ps 2 (due Feb. 24) | ||
| Feb. 24 |
Guest Lecture--Richard Adelstein | ||
| Mar. 2
(Thursday), 6:00 - 10:00 p.m., SC 121 review sessions are Tues. 8:00-9:00 pm., PAC 001, and at the usual t.a. session times on Wed. and Thurs. night |
Test #1 and answers |
Chs. 1-11 | |
| Mar. 1, 3 |
Factor markets | Chs. 15, 16 | |
| ps 3 (due Mar. 10) | |||
| Mar. 6, 8, 10 |
Market failures | Chs.
12, 20, 18 |
|
| SPRING
BREAK |
|||
| Mar. 27, 29, Apr. 3, 5, 7, 10, 12, 14, 17 |
Aggregate demand and supply | Chs.
21, 22, 23, 24, 25, 26 |
|
| Mar. 31 | Guest
Lecture--Gil Skillman |
ps 4 (due Apr. 7) | |
| Apr. 14 | ps 5 (due Apr. 21) | ||
| Apr.
18
(Tuesday), 6:00 - 10:00 p.m., SC 121 review sessions Sun. Apr. 16, 6:30-8:00 pm, PAC 107, and Mon. Apr. 17, 8:00-9:00 pm, PAC 004 |
Test #2 and answers |
Chs. 15, 16, 12, 20, 18, 21-26 | |
| Apr. 19, 21, 24, 26, 28 |
Fiscal and monetary policy | Chs.
27, 28, 29, 30, 31, 32 |
|
| Apr. 28 |
Book
review due |
ps 6
(due May 5) |
|
| May 1, 3, 5 |
The
world economy |
Chs.
33, 34, 35 |
|
| May 8 (opportunity to turn in
your clicker at end of this class--must
turn it in personally; otherwise turn it in at the ITS store) |
Review
of the course |
||
| May 16
(Tuesday), 9:00 a.m. - 12:00 noon review sessions Sun. May 14, 1:00-2:30, PAC 001, and Mon. May 15, 6:00-7:00, PAC 004 |
Final exam and answers |
all
reading, but emphasis on material covered after the last in-term test |
Introductory Economics-Specific Sites
Microeconomic
Graphical Topics
Interactive graphs explaining profit maximization, production and cost
by using
perfect competition and monopoly cases
Micro and Macro interactive tutorials
Animated and text tutorials on the major micro- and macroeconomic
principles
Sites
related to topics we discuss in the course
Nobelprize.org/economics
This site has information
about the winners of the Nobel Prize in Economics
(formally known
as the Bank of Sweden Prize in Economic Sciences in Memory of Alfred
Nobel)
and also has a fun
little trade game you can play on-line.
"What
is a Living Wage?" Jon Gertner, NY Times Magazine, Jan. 15, 2006
This article was
recommended by a student in the class and is an interesting coverage of
the current
situation regarding the
movement to pass living wage ordinances in many states and
municipalities.
It ties in with our
ongoing discussion of minimum wages. In order to access the
on-line NY Times site,
you need to register
(free).
"Cross-Country
Analysis of Food Consumption Patterns," Anita Regmi et al., in Changing Structure of Global
Food Consumption and Trade,
Economic Research Service, USDA, 2001.
I showed some graphs of
elasticities for food across countries and time in class on Feb. 8.
Fortune 500
list for 2005: We saw the top ten companies on the list in
class on Feb. 22.
Here are a couple of sites where you can
experience the prisoner's
dilemma
and various
strategies for playing it in a repeated game format (as discussed
in class on Feb. 27 and Mar. 1)
Here is the list of top salaries (individuals
and teams) in the NBA (as discussed in class on Mar. 1)
Here is a handy little present
value calculator (as discussed in class on Mar. 1 and 6)
Here is a graph of
oil prices, both nominal and real, from 1861 through 2005 (as
discussed in class on Mar. 8 and 10)
Here is a short history of
AT&T and a short
history of the Microsoft antitrust case (as discussed in class on
Mar. 10)
"How Much Is
That?" This interactive site run by the Economic History Net
allows you to answer questions like
"what was the value
of a dollar in 1895?" and other questions of comparative value over
time (as discussed in class on Apr. 3)
Here is the 2005 United Nations
Development Program Human Development Report.
Here is the table
showing the rankings of countries on the Human
Development Index (as discussed in class on Apr. 3)
Here is the flyer
for
the Wal-Mart video and talk series that ODE, the economics and
sociology
departments, and the
urban studies
course cluster are sponsoring on Apr. 24 and 25.
Here is the U.S. National Debt Clock
and also the U.S.
National Debt Clock FAQ
and also the
official U.S.
Bureau of the Public Debt site of the U.S. Treasury (as discussed
in class on Apr. 21 and 24)
Here is the wikipedia entry on money,
which is a very helpful summary, and a site with a
helpful history of money.
Here is the defamation
suit that John Lott has filed against Steven Levitt and
HarperCollins (publisher of Freakonomics)
Here is the webpage for the Board of
Governors of the Federal Reserve System
Here is the Economist's
webpage
about their Big Mac index, and the
January 2006 Big Mac index values
Here are a couple of handy sites where you
can get current exchange rates: xe.com
and x-rates.com
General Economics Links, Data, and Statistics
RFE: Resources for
Economists on the Internet
The most
comprehensive guide to economics related information on the web
Fedstats
The gateway site
for statistics from a variety of U.S. Federal agencies
Economic
Report of the President, 1995-2006
Statistical
tables can be accessed as spreadsheet files
Economic
Statistics Briefing Room
Easy access to
current Federal economic indicators
U. S. Census
Bureau Home Page
Current
information on economic, social, and demographic indicators;
includes
the very helpful data source Statistical Abstract of the United States