ECONOMICS 306

Intermediate Microeconomics

Professor Walter E. Williams

Spring, 2009           

Enterprise Hall-274                                                               Office: Enterprise Hall-333

                                                Office Hours: Tu. 9‑11; W. 9‑11

                                                and by appointment (993-1148)

                                                                COURSE OUTLINE

Text: Edgar K. Browning and Mark A. Zupan: Microeconomics: Price Theory and Applications John Wiley & Sons, Inc. 9^th or 10^th edition, 2008)

Optional Text: Study Guide to Accompany Microeconomics: Price Theory and Applications

The following represents both an approximation of our schedule and the minimum reading requirements for the semester.  There will be two or three problem sets, a mid-term and final examination.  In addition there will be periodic unannounced quizzes consisting of true/false and multiple choice questions.  Therefore, for each class you should bring a No. 2 pencil and a Scantron.

Your final grade will be based upon performance on problem sets (15%), midterm examination (30%), final examination (45%), and unannounced quizzes (10%).

Jan. 20                       Introduction Supply & Demand

Reading Assignment: Chapter 1

Jan. 27                       Supply & Demand

Reading Assignment: Chapter 2 and reread Chapter 1 

Feb. 3                         Supply & Demand

Reading Assignment: Reread Chapter 2 and begin

Chapter 3

Feb. 10                       Consumer Choice

Reading Assignment: Chapter 3

Feb. 17                       Consumer Choice

Reread Chapter 3 and begin Chapter 4

Feb. 24                       Consumer Behavior (Applications)

Reading Assignment: Chapter 5

Mar. 4                         Mid-term (Tentative)

Mar. 9-15                  Spring Break

Mar. 17                       Production

Reading Assignment: Chapter 7

Mar. 24                       Production & Costs

Reading Assignment: Chapter 8

Mar. 31                       Pure Competition

Reading Assignment: Chapters 9 & 10

Apr. 7                          Monopoly

Reading Assignment: Chapters 11 & 12

Apr. 14                       Oligopoly & Monopolistic Competition

Reading Assignment: Chapters 13 & 15

Apr. 21                       Labor Markets

Reading Assignment: Chapter 16

Apr. 28                       Intertemporal Choice

Reading Assignment: Chapter 17

May 5                          Reading Day or class

May 7                          Final Examination (7:30 a.m., NO EXCEPTIONS)

References

William Baumol, Economic Theory and Operations Analysis, 4th ed. (Englewood Cliffs, New Jersey, 1977).

This text will prove valuable in teaching the student the elementary mathematics necessary for the problem sets that will be required this semester.  Particularly valuable are chapters 2, 3, and 4.