ECON 142 : Principles of Microeconomics Course Change …

5/1/2020 ECON 142: Principles of Microeconomics

https://next.catalog.ku.edu/courseleaf/approve/ 1/4

Course Change Request

Academic Career Undergraduate, Lawrence

Subject Code ECON Course Number 142

Academic Unit Department Economics

School/College College of Lib Arts & Sciences

Please ExplainThis course will be offered online some semesters and in lecture format some semesters.

Title Principles of Microeconomics

Transcript Title Principles of Microeconomics

Effective Term Spring 2020

CatalogDescription

Prerequisites

Cross ListedCourses:

Credits 3

Course Type

AssociatedComponents

(Optional)

Discussion – Mandatory discussion associated with a main componentDiscussion optional – Voluntary discussion associated with a main component

Grading Basis A-D(+/-)FI (G11)

Is this course part of theUniversity Honors Program?

No

Are you proposing thiscourse for KU Core?

Yes

Typically Offered

Repeatable forcredit?

No

Principal CourseDesignator

SF - Public Affairs

CourseDesignator

S - Social Sciences

Yes No

In Workflow1. CLAS

UndergraduateProgram andCourseCoordinator

2. CUSASubcommittee

3. CUSA Committee4. CAC5. CLAS Final

Approval6. Registrar7. PeopleSoft8. UCCC CIM

Support9. UCCC Preliminary

Vote10. UCCC Voting

Outcome11. SIS KU Core

Contact12. Registrar13. PeopleSoft

Approval Path1. 04/24/20 8:47 am

Rachel Schwien(rschwien):Approved forCLASUndergraduateProgram andCourseCoordinator

History1. Jun 7, 2017 by

lwales2. Jan 9, 2019 by

Ronda Morgison(rondaball)

3. Feb 1, 2020 byDavid Slusky(d665s602)

Date Submitted: 04/19/20 12:37 pm

Viewing: ECON 142 : Principles of MicroeconomicsLast approved: 02/01/20 4:32 amLast edit: 04/19/20 12:36 pmChanges proposed by: d665s602

Do you intend to offer any portion of this course online?

Yes

An analytical introduction to microeconomics. Topics include theory of markets, public policy, international trade,economic efficiency, and equity.

MATH 101 or MATH 103 or MATH 104, or eligibility for MATH 115 or MATH 125 or MATH 126.

Lecture (Regularly scheduled academic course) (LEC)

Are you proposing that the course count towards the CLAS BA degree specific requirements?

Catalog Pagesreferencing thiscourse

B.A. Architectural Studies - M.C.M. PlanBA in EconomicsBA in Physics with concentration in Computational PhysicsBGS in EconomicsBachelor of Business Administration

M

mailto:[email protected];%[email protected];%[email protected]

mailto:[email protected];%[email protected];%[email protected];%[email protected]


mailto:[email protected];%[email protected];%[email protected];%[email protected];%[email protected]



mailto:[email protected]

mailto:[email protected];%[email protected]






https://next.catalog.ku.edu/architecture/architecture/ba-architectural-studies/mcm/index.html

https://next.catalog.ku.edu/liberal-arts-sciences/economics/ba-bgs/ba-economics/index.html

https://next.catalog.ku.edu/liberal-arts-sciences/physics-astronomy/ba-physics/computational-physics/index.html

https://next.catalog.ku.edu/liberal-arts-sciences/economics/ba-bgs/BGS-in-Economics/index.html

https://next.catalog.ku.edu/business/bachelor-business-administration/index.html



Yes

Which Program(s)? Program Code - Name

(ECON-BA/BGS) Economics, B.A./B.G.S.

Describe how: This is required for all programs in the Economics Department.

Rationale forCourse Proposal

SupportingDocuments

Yes

Name of person givingdepartmental approval

David Slusky Date of Departmental Approval April 3, 2020

Selected Goal(s)

Do all instructors of this course agree to include content that enables students to meetKU Core learning outcome(s)?

Yes

Do all instructors of this course agree to develop and save direct evidence thatstudents have met the learning outcomes(s)?

Yes

Provide an abstract (1000 characters maximum) that summarizes how this coursemeets the learning outcome.

KU Core Goal 1.2 is designed to teach students how to “define a problem, analyzenumerical information, apply mathematical principles, and integrate quantitativemethods into problem solving.” ECON 142 is an analytical introduction tomicroeconomics. Topics include theory of markets, public policy, international trade,economic efficiency, and equity. It is a 3 credit course and has a college algebraprerequisite. It is by its very nature quantitative, with substantial mathematicalcomponents in all of its homework assignments, quizzes and exams (see attached).

Selected Learning Outcome(s):

Goal 1, Learning Outcome 2

Justification for counting this course towards the CLAS BA

ECON 142 is an analytical introduction to microeconomics. Topics include theory of markets, public policy,international trade, economic efficiency, and equity. It is a 3 credit course and has a college algebra prerequisite. It is by itsvery nature quantitative, with substantial mathematical components in all of its homework assignments, quizzes and exams(see attached).

How does this course meet the CLAS BA requirements?

Quantitative Reasoning (QR)

Will this course be required for a degree, major, minor, certificate, or concentration?

We think that ECON 142 satisfies the requirements for both KU Core Goal 1.2 and for the BA Quantitative Reasoning requirement, andwe want to give students who take this course the opportunity to formally satisfy these requirements.

Econ 142 Syllabus Summer 2020.pdf Sample Homework Econ 142.docx

Sample Exam Econ 142.docx

KU Core InformationHas the department approved the nomination of this course to KU Core?

State how your course uses discussion and course assignments to teach students to solve problems using mathematical functionsand numerical techniques. (Please limit responses to 1000 characters.)

To synthesize the development of principles, theories, and analytical methods over time students are expected to read the materialbefore class and then in class build on the knowledge gained from those readings with practical mathematical applications, as well asgroup collaboration and quizzes. The class also builds upon itself throughout the year. For example, the students first learn abouttheories such as supply and demand, and then later learn about different applications of these theories across different markets. In thisexample, students may illustrate graphically supply/demand curves, then find consumer surplus, producer surplus, and dead weightloss using geometry. Homework and quizzes allow students to demonstrate their functional understanding of these key analyticalmethods. In class discussions allow students with a strong grasp on the material to interact with students who may be struggling and

https://next.catalog.ku.edu/courseadmin/3473/Econ%20142%20Syllabus%20Summer%202020.pdf

https://next.catalog.ku.edu/courseadmin/3473/Sample%20Homework%20Econ%20142.docx

https://next.catalog.ku.edu/courseadmin/3473/Sample%20Exam%20Econ%20142.docx



Goal 3 - Social Sciences

KU CoreDocuments

Course ReviewerComments

Key: 3473

allow students to openly work through challenging concepts together.

State what aspects of your course or educational experience require students to apply mathematical or statistical principles toorganize or process numerical information. (Please limit responses to 1000 characters.) *

Every application of economic theory is a mathematical problem. As stated above, students use geometry to find consumer andproducer surplus, and dead weight loss. Students solve for optimal quantities produced by a firm by solving a system of equations,which they will learn will vary depending on the market type. Students solve for varies elasticities using algebra. These basic economicproblems are what make up a large part of every quiz and problem set. Theory will make up the other, but theory can be implicitly testedthrough application problems.

State how your course or educational experience will use assignments, readings, class discussion, and lecture to require students touse specific quantitative methods to solve problems and to choose appropriate methods for given problems. (Please limit responsesto 1000 characters.) *

This course moves students from their current knowledge to a deeper understanding of fundamental economic concepts through aseries of short answer homework assignments, weekly assigned readings, and regular in class discussions. The short answerhomework assignments give the opportunity for students to demonstrate their comprehension of specific concepts and help guide theirstudy. In all cases, students must determine what mathematical method is appropriate given the situation and correctly apply it. Forexample, a student must know under what circumstances one would set price=marginal cost vs. marginal revenue=marginal cost tosolve for quantity supplied.

Indicate the weight of the evidence that will be used to evaluate student performance in the tasks above and how you will use thisevaluation for a supermajority (greater than or equal to 60%) of the final course grade. (Please limit responses to 1000 characters.) *

All homework assignments, quizzes, and exams are overwhelming if not entirely quantitative. Please see attached syllabus andsample assignment and sample exam.

State how your course or educational experience will use assignments, readings, projects, or lectures to move students from theircurrent knowledge to a deeper understanding of specific concepts fundamental to the area(s) in question. (Please limit responses to1000 characters.)

Course has already been approved.

State what course assignments, readings, class discussions, and lectures will synthesize the development over time of the principles,theories, and analytical methods of the discipline(s). (Please limit responses to 1000 characters.)


State what learning activities will integrate the analysis of contemporary issues with principles, theories, and analytical methodsappropriate to the area in question. (Please limit responses to 1000 characters.)


State what course assignments, projects, quizzes, examinations, etc. will be used to evaluate whether students have a functionalunderstanding of the development of these concepts, and can demonstrate their capability to analyze contemporary issues using theprinciples, theories, and analytical methods in the academic area. (Please limit responses to 1000 characters.)







Syllabus ECON 142 Principles of Microeconomics

Summer 2020 University of Kansas

Instructor: Prof. Josephine Lugovskyy, Ph.D. Office Hours: By Zoom Appointment Only (https://kansas.zoom.us/j/3459868786) Email: [email protected] Course Description: An analytical introduction to microeconomics. Topics include theory of markets, public policy, international trade, economic efficiency, and equity. Prerequisite: MATH 101 or MATH 103 or MATH 104, or eligibility for MATH 115 or MATH 125 or MATH 126. *Note that this course is online-only. There will be no discussion section nor any other in-class meetings. Required Materials:

Loose-Leaf Version for Principles of Microeconomics & Achieve for Principles of Microeconomics (Six-Months Access) ISBN: 9781319346300

The ISBN above includes both a loose-leaf textbook and the assignment software Achieve. If you choose to purchase the textbook elsewhere or rent a copy, please note that the Achieve software will need to be purchased separately as we will use this to complete and submit assignments throughout the course. Not purchasing the book or software will not warrant an extension. Course Requirements and Grading:

Course Assignments Points Possible

1) Weekly Homework Assignments (8) 160

2) Weekly Chapter Quizzes (8) 80

3) Exams (2) 60

Total 300

1) Weekly homework assignments will be assessed through MacMillan’s Achieve software. Homework

will be worth 20 points each. Final homework scores will consist of an average of three attempts per assignment. Homework will be due Saturdays by 11:59pm CST.

2) Weekly quizzes will also be facilitated through Achieve, will be worth 10 points each, and will be due Sundays by 11:59pm CST. Final quiz scores will consist of the best of two attempts per assignment.

3) There will be two exams in this course. These will be available via Achieve only and will be worth 30 points each. You will take these exams online the same as you would a quiz. You will be allowed to enter the exam twice. Final exam scores will consist of the best of these two attempts. For those who have AAAC accommodations, please be sure to email me the week before the exam so I may setup your accommodations before you begin the exam.


Grading Policies: Grading will follow the standard scale:

Percentage Points

Required Letter Grade

100-90% 270+ A

89-80% 240+ B

79-70% 210+ C

69-60% 180+ D

59%-less 179- F

Course Outline:

Lecture Topic Assignments

Week 1: Chapters 1, 2 Chapters 1 & 2 Homework, Chapters 1 & 2 Quiz




Week 5: Chapters 9, 10 Chapters 9 & 10 Homework, Chapters 9 & 10 Quiz, Exam 1: Chapters 1 - 8



Week 8: Chapters 15, 16 Chapters 15 & 16 Homework, Chapters 15 & 16 Quiz Exam 2: Chapters 9 - 16

Extra Credit: Extra credit will be available through Achieve. Extra credit assignments are not considered required tasks, thus, any points earned on the extra credit quizzes will be added onto your total score at the end of the term. Students are not required to earn full points on the quizzes to receive credit. Any and all points earned will be counted. All extra credit assignments will be due the last day of the course.

Late Work Policy: Assignment deadlines are important as they ensure students are progressing through the course at an appropriate pace. Submitting work late is not only a detriment to student learning, it is unfair to your fellow students who did not receive the extra time to complete their assignments. It is your responsibility to ensure all course assignments are submitted on time. Extensions will only be given/accepted under extreme circumstances. In case of emergency, please notify me as soon as possible before the assignment due date and I will decide, depending on the circumstances, if an extension is appropriate and if a penalty will be assessed. All late work will automatically receive a 10% penalty. Late work will be accepted until the last day of the course (finals week) but not beyond. It is your responsibility to ensure proper technological access and timely submission of assignments. Thus, extensions will not be given for basic software problems. If you experience problems with software or technology, please contact the proper agency, not the professor. *Please note that technical issues with your computer or Achieve access does NOT constitute an emergency. Similarly, only extreme health conditions will constitute an ‘extreme’ circumstance. Flus, colds, mono, strep

throat, broken fingers, etc. are NOT considered extreme conditions, even if you have a doctor’s note. You must be hospitalized for multiple days with documentation for it to be considered extreme. Blackboard: Blackboard is our Learning Management System at KU and will be used for all interactivity and the majority of content delivery. Since homework and quiz assignments will be facilitated through the Achieve software, these scores will not be synced with Blackboard. At the end of the term, all assignment scores, along with extra credit, will be downloaded from Achieve onto Prof. Lugovskyy’s personal computer. Final grades will not be posted on Blackboard. For any problems with Blackboard, please contact Blackboard support. Achieve: Achieve is third-party software that we will use throughout the course for weekly homework and quiz assignment submission. It also contains additional learning resources such as PowerPoint presentations, lecture videos, flashcards, and practice quizzes, amongst many others. This software must be purchased at the beginning of the term to ensure timely submission of all work. Please note that if you experience problems with the Achieve software, it is recommended that you contact MacMillan first before contacting the professor. Many of the problems students face with the software are technical and software-specific, thus the professor has no access and cannot resolve them. Contact MacMillan first, then if it is determined the issue is on the professor’s side, contact the professor. Email: I will check my email frequently during the workweek and will typically reply within 24 hours. When sending me an email, be sure to list the class name and meeting time in the subject line. This will allow for the correspondence for this course to be separated from other email and allow for timely attention and action. Safe Zone: In an effort to create inclusive spaces for LGBTQIA+ individuals, Prof. Lugovskyy’s office has been designated a Safe Zone. Please feel free to visit the professor’s office if you have any questions or concerns regarding this or any other issues of safety or inclusivity. Additional information on Safe Zone and a pronoun guide can be found at: https://sgd.ku.edu/safe-zone-training. Jayhawk Student One Stop (SOS) The Jayhawk Student One Stop (SOS) is committed to assuring that every student has the opportunity to be successful at the University of Kansas. The Jayhawk Student One Stop serves as a resource for undergraduate and graduate students who are experiencing unforeseen challenges that prevent their ability to persist in achieving academic goals at KU. Through collaboration with campus and community partners, the Jayhawk Student One Stop acts alongside students to navigate campus administrative processes and provide personalized solutions to each of their inquiries, within the university’s policy and resources. More information can be found at: https://sos.ku.edu/. KU Academic Access and Achievement Center (AAAC): AAAC offers many services and programs to assist students in their academic success and to enhance their collegiate experience at KU. Choose from learning strategy consultations, group workshops or general or course-specific academic assistance, by appointment or on a walk-in basis. Feel free to talk with AAAC and ask for information or direction about academic and personal issues. You can find more information at: https://achievement.ku.edu/. Phone is 785-864-4064. The AAAC is located in Rm 22 Strong Hall. KU Writing Center:

https://sgd.ku.edu/safe-zone-training

https://sos.ku.edu/

https://achievement.ku.edu/

The Writing Center offers a variety of ways for students and members of the community to get feedback on their writing. It offers face-to-face consultations, online appointments, and an eTutoring appointments. Information regarding each type of appointment and a tool for scheduling can be found at http://writing.ku.edu/. The Writing Center has multiple locations on campus. Institute of Institutional Opportunity & Access (IOA):

The Office of Institutional Opportunity and Access (IOA) is responsible for administering the University of Kansas equal opportunity and non-discrimination policies and procedures, as well as, encouraging a campus climate of respect and understanding of all aspects of the human experience. To accomplish these duties, the IOA offers assistance and protective measures to students, faculty, and staff who report acts of harassment, discrimination, sexual misconduct, sexual violence, and retaliation; provides information about health, safety, advocacy, and support resources for members of the Lawrence and Edwards campuses; performs formal investigations to detect, discontinue, and prevent violations of the Non-Discrimination Policy and Sexual Harassment Policy; and ensures University compliance with state and federal civil rights laws. IOA is located at 153A Carruth-O’Leary; Phone 785-864-6414; email: [email protected]; http://ioa.ku.edu/.

Statement on Americans with Disabilities: The Academic Achievement and Access Center (AAAC) coordinates academic accommodations and services for all eligible KU students with disabilities. If you have a disability for which you wish to request accommodations and have not contacted the AAAC, please do so as soon as possible. They are located in 22 Strong Hall and can be reached at 785-864-4064 (V/TTY). Information about their services can be found at http://www.access.ku.edu/. Please contact me privately in regard to your needs in this course.

Academic Misconduct:

Academic misconduct will not be tolerated in this class. An instructor may, with due notice to the student, treat as unsatisfactory any student work which is a product of academic misconduct. Cases of academic misconduct may result in any or all of the following penalties: reduction of grade, admonition, warning, censure, transcript citation, suspension, or expulsion. The following information about Academic Misconduct is discussed in Article II, Section 6 of the rules and regulations of the University Senate. “Academic misconduct by a student shall include, but not be limited to, disruption of classes; threatening an instructor or fellow student in an academic setting; giving or receiving of unauthorized aid on examinations or in the preparation of notebooks, themes, reports or other assignments; knowingly misrepresenting the source of any academic work; unauthorized changing of grades; unauthorized use of University approvals or forging of signatures; falsification of research results; plagiarizing of another's work; violation of regulations or ethical codes for the treatment of human and animal subjects; or otherwise acting dishonestly in research.”

It is your responsibility as a KU student to make sure you understand academic honesty and misconduct. The policy is described at this link: https://documents.ku.edu/policies/governance/USRR.htm#art2sect6. The website of the KU Writing Center provides some excellent information and resources on how to avoid plagiarism: http://writing.ku.edu/writing-guides. We ask you to familiarize yourself with these materials this semester.

Disruptive Behavior:

The scope and content of the material included in this course are defined by the instructor in consultation with the responsible academic unit. While the orderly exchange of ideas, including questions and discussions prompted by lectures, discussion sessions and laboratories, is viewed as a normal part of the educational

http://writing.ku.edu/


http://ioa.ku.edu/

http://www.access.ku.edu/

https://documents.ku.edu/policies/governance/USRR.htm#art2sect6

http://writing.ku.edu/writing-guides

environment, the instructor has the right to limit the scope and duration of these interactions. Students who engage in disruptive behavior, including persistent refusal to observe boundaries defined by the instructor regarding inappropriate talking, discussions, and questions in the classroom or laboratory may be subject to discipline for non-academic misconduct for disruption of teaching or academic misconduct, as defined in the Code of Student Rights and Responsibilities (CSRR), Article 22, Section C, and the University Senate Rules and Regulations, Section 2.4.6. Article 22 of CSRR also defines potential sanctions for these types of infractions.

Sample Exam Econ 142

1. Nadia and Maddie are two college roommates who both prefer a clean common space in their dorm

room, but neither enjoys cleaning. The roommates must each make a decision to either clean or not

clean the dorm room's common space. The payoff table for this situation is provided below, where the

higher a player’s payoff number, the better off that player is. The payoffs in each cell are shown as

(payoff for Nadia, payoff for Maddie).

Nadia

Maddie Clean Don’t Clean

Clean (30, 30) (50, 7)

Don’t Clean (7, 50) (10, 10)

Refer to the above table. If Maddie chooses to clean, then Nadia will

a. clean and Maddie’s payoff will be 30.

b. not clean and Maddie’s payoff will be 7.

c. clean and Maddie’s payoff will be 50.

d. not clean and Maddie’s payoff will be 10.

2. Consider the following demand and cost information for a monopoly.

Quantity Price Total Cost

0 $32 $6

1 $28 $20

2 $24 $34

3 $20 $48

4 $16 $62

5 $12 $76

Refer to the above table. At the profit-maximizing price, how much profit will the monopoly earn?

a. $8

b. $10

c. $12

d. $14

3. Mary and Cathy are roommates. Mary assigns a $30 value to smoking cigarettes. Cathy values smoke-

free air at $15. Which of the following scenarios is a successful example of the Coase theorem?

a. Cathy offers Mary $20 not to smoke. Mary accepts and does not smoke.

b. Mary pays Cathy $16 so that Mary can smoke.

c. Mary pays Cathy $14 so that Mary can smoke.

d. Cathy offers Mary $15 not to smoke. Mary accepts and does not smoke.

4.

Refer to the above figure. A government-imposed price floor of $12 in this market results in

a. a surplus of 2 units.

b. a surplus of 4 units.

c. 12 units sold.

d. 10 units sold.

Sample Homework Assignment Econ 142

The relationship between marginal and average costs

Consider the following scenario to understand the relationship between marginal and average values. Suppose

Lorenzo is a professional basketball player, and his game log for free throws can be summarized in the

following table.

1. Fill in the columns with Lorenzo’s free-throw percentage for each game and his overall free-throw

average after each game.

Game

Game

Result Total

Game Free-Throw

Percentage

Average Free-Throw

Percentage

1 4/5 4/5 80 80

2 2/5 6/10

3 1/4 7/14

4 1/2 8/16

5 4/4 12/20

Explanation/Solution:

To calculate the free-throw percentage of the second game, you need to examine Lorenzo’s game log from that day and use the following formula:

Game Free-Throw Percentage = Free Throws Made/Free Throws Attempted

= 2/5

= 40% To calculate the total free-throw average, you look at the aggregate number of free throws made and free throws attempted up to and including the game you are examining. For example, Lorenzo’s total free-throw

percentage after game 2 is computed as follows:

Average Free-Throw Percentage = Free Throws Attempted in Game 1 and Game 2

= 6/10

= 60% Similar calculations can be made for the other games.

2. On the following graph, use the orange points (square symbol) to plot Lorenzo’s free-throw percentage for each game individually, and use the green points (triangle symbol) to plot his overall average free-throw percentage after each game.

Note: Plot your points in the order in which you would like them connected. Line segments will connect the points automatically.


After Lorenzo’s first game, he has completed 80% of his free throws. This is both his game and his overall

average free-throw percentage. After Lorenzo’s second game, he has completed a total of 60% of his free throws. However, he completed only 40% of his free throws in that particular game. Therefore, (2, 40) is a point on the game free-throw percentage curve, and (2, 60) is a point on the average free-throw percentage curve. Similar analysis can be applied to fill in the rest of the curves.

When a marginal value curve is upward sloping, it intersects the average value curve at its minimum. This is not necessarily the case in this question, though, because this example uses a discrete approach to approximate continuous functions.

3. You can think of the result in any one game as being Lorenzo’s marginal free-throw percentage. Based on

your previous answer, you can deduce that when Lorenzo’s marginal free-throw percentage is below the

average, the average must be ________.


When Lorenzo’s free-throw percentage in a given game is lower than his overall free-throw average, his free-

throw percentage decreases, as shown on the previous graph. When his free-throw percentage in a given

game is higher than his overall free-throw average, his free-throw percentage increases, as also shown on the

previous graph. Therefore, when his marginal free-throw percentage is below the average, the average must

be falling.

4. You can now apply this analysis to production costs. For a U-shaped average total cost (ATC) curve, when

the marginal cost curve is below the average total cost curve, the average total cost must be ____. Also,

when the marginal cost curve is above the average total cost curve, the average total cost must be_______.

Therefore, the marginal cost curve intersects the average total cost curve ________.


With a U-shaped average total cost (ATC) curve for any quantity less than the minimum average total cost

output, the average total cost is falling, because the marginal cost (MC) curve is below the ATC curve. To

visualize this, consider the following graph:

The relationship between average and marginal values dictates that whenever the average total cost is rising,

the marginal cost must be above the average total cost; and whenever the average total cost is declining, the

marginal cost must be below average total cost. Therefore, the marginal cost curve must intersect the average

total cost curve at its minimum.

5/1/2020 ECON 143: Principles of Microeconomics, Honors







Title Principles of Microeconomics, Honors

Transcript Title Princpls of Microeconomics,Hnr


CatalogDescription

Prerequisites


Credits 3

Course Type



Yes


Yes

Typically Offered


No


SF - Public Affairs

CourseDesignator

S - Social Sciences

Yes No

In Workflow1. CLAS


2. CUSASubcommittee




Vote10. UCCC Voting





History1. Jan 20, 2018 by

Dietrich Earnhart(earnhart)



Viewing: ECON 143 : Principles of Microeconomics, HonorsLast approved: 02/01/20 4:32 amLast edit: 04/19/20 12:38 pmChanges proposed by: d665s602


No

An honors section of ECON 142. An analytical introduction to microeconomics. Topics include theory of markets,public policy, international trade, economic efficiency, and equity.

Consent of the Economics Department and MATH 101 or MATH 103 or MATH 104, or eligibility for MATH 115 orMATH 125 or MATH 126. Open only to students who have been admitted to the University Honors Program, or by consent of instructor.




ECON 143 is an honors analytical introduction to microeconomics. It teaches how individuals and firms makedecisions in the face of scarcity; and how these individual decisions aggregate up to market-level outcomes. While firms andindividuals are always assumed to behave "optimally," the desirability of the outcome that emerges will depend uponcompetitiveness and completeness of the market. Thus, the course is broken up into two parts. In the first half of the coursewe study market outcomes and efficiency when markets are perfectly competitive and in the second half of the course we


B.A. Architectural Studies - M.C.M. PlanBachelor of Science in BusinessBachelor of Science in EconomicsCollege of Liberal Arts & SciencesDepartment of Economics














https://next.catalog.ku.edu/architecture/architecture/ba-architectural-studies/mcm/index.html

https://next.catalog.ku.edu/business/bs/index.html

https://next.catalog.ku.edu/liberal-arts-sciences/economics/bs/index.html

https://next.catalog.ku.edu/liberal-arts-sciences/index.html

https://next.catalog.ku.edu/liberal-arts-sciences/economics/index.html



No


SupportingDocuments

Yes



Selected Goal(s)


Yes


Yes


KU Core Goal 1.2 teaches how to “define a problem, analyze numerical information,apply mathematical principles, and integrate quantitative methods into problemsolving.” ECON 143 is an analytical introduction to microeconomics. It studies howindividuals and firms make decisions in the face of scarcity; and how these individualdecisions aggregate up to market-level outcomes. While firms and individuals arealways assumed to behave "optimally," the desirability of the outcome that emerges willdepend upon competitiveness and completeness of the market. The first half of thecourse covers market outcomes and efficiency when markets are perfectly competitiveand in the second half covers outcomes and efficiency when markets are imperfectlycompetitive or when markets simply do not existent. It is a 3 credit course and has acollege algebra prerequisite. It is by its very nature quantitative, with substantialmathematical components in all of its assignments and exams (see attached).



study outcomes and efficiency when markets are imperfectly competitive or when markets simply do not existent. It is a 3credit course and has a college algebra prerequisite. It is by its very nature quantitative, with substantial mathematicalcomponents in all of its homework assignments and exams (see attached).





Sample Assignment ECON143.docx Syllabus ECON143- Winter 2020 - FIRM.docx

Sample Exam ECON143.docx



To synthesize the development of principles, theories, and analytical methods over time students are expected to read the materialbefore class and then in class build on the knowledge gained from those readings with practical mathematical applications. The classalso builds upon itself throughout the year. For example, the students first learn about theories such as supply and demand, and thenlater learn about different applications of these theories across different markets. In this example, students may illustrate graphicallysupply/demand curves, then find consumer surplus, producer surplus, and dead weight loss using geometry. Assignments allowstudents to demonstrate their functional understanding of these key analytical methods. In class discussions allow students with astrong grasp on the material to interact with students who may be struggling and allow students to openly work through challengingconcepts together.


https://next.catalog.ku.edu/courseadmin/3474/Sample%20Assignment%20ECON143.docx

https://next.catalog.ku.edu/courseadmin/3474/Syllabus%20ECON143-%20Winter%202020%20-%20FIRM.docx

https://next.catalog.ku.edu/courseadmin/3474/Sample%20Exam%20ECON143.docx




KU CoreDocuments


Key: 3474

Every application of economic theory is a mathematical problem. As stated above, students use geometry to find consumer andproducer surplus, and dead weight loss. Students solve for optimal quantities produced by a firm by solving a system of equations,which they will learn will vary depending on the market type. Students solve for varies elasticities using algebra. These basic economicproblems are what make up a large part of every assignment and problem set. Theory will make up the other, but theory can beimplicitly tested through application problems.


This course moves students from their current knowledge to a deeper understanding of fundamental economic concepts through aseries of short assignments on MindTap (a digital learning platform), weekly assigned readings, and regular in class discussions. Theshort answer homework assignments give the opportunity for students to demonstrate their comprehension of specific concepts andhelp guide their study. In all cases, students must determine what mathematical method is appropriate given the situation and correctlyapply it. For example, a student must know under what circumstances one would set price=marginal cost vs. marginalrevenue=marginal cost to solve for quantity supplied.


All homework assignments and exams are overwhelming if not entirely quantitative. Please see attached syllabus and sampleassignment and sample exam.


already approved.


already approved.


already approved.


already approved.

Sample Assignment ECON143.docx Syllabus ECON143- Winter 2020 - FIRM.docx


https://next.catalog.ku.edu/courseadmin/3474/Sample%20Assignment%20ECON143.docx

https://next.catalog.ku.edu/courseadmin/3474/Syllabus%20ECON143-%20Winter%202020%20-%20FIRM.docx


Syllabus

Principles of Microeconomics

Instructor: Dr Sébastien MARY Office: 351 Snow Hall Office hours: TTh, 8.45am-9.30am & 12.15-12.45, by appointment Email address: [email protected] Terms of Agreement: It is understood that the student’s continued enrollment in this course indicates that the student is aware of the content of, and accepts the terms of, this syllabus. Course objectives: This introductory course in Microeconomics studies how individuals and firms make decisions in the face of scarcity; and how these individual decisions aggregate up to market-level outcomes. While firms and individuals are always assumed to behave "optimally," the desirability of the outcome that emerges will depend upon competitiveness and completeness of the market. Thus, the course is broken up into two parts. In the first half of the course we study market outcomes and efficiency when markets are perfectly competitive and in the second half of the course we study outcomes and efficiency when markets are imperfectly competitive or when markets simply do not existent. Textbook: Principles of Microeconomics, by Greg Mankiw. Latest or older edition. This course will require Cengage Unlimited and MindTap from Cengage. You can purchase access to Cengage Unlimited at the bookstore for $119.99 or online through your Blackboard course for the same price. You will register and access Cengage Unlimited and MindTap through Blackboard. With your Cengage Unlimited subscription, you have access to the entire Cengage digital library! No matter how many Cengage products you use, they are included in Cengage Unlimited, and the price stays the same. You also get a textbook rental when you activate MindTap through Blackboard for $7.99 + free shipping. You may also have the option to purchase a loose-leaf version of your textbook, which you can keep. View this tutorial video to see how to access and obtain your print options. If you purchased Cengage Unlimited through the bookstore: To redeem your product:

1. Visit www.kubookstore.com/topic/redeem 2. Enter the “Redemption Code” from your receipt. 3. Follow the instructions on the screen Reminder – type the code in the EXACT way it appears, including spaces or dashes

Technology policy: No laptop/tablet allowed in lectures unless you have a medical condition that requires the use of such technology, and supportive evidence. Discussion leaders are free to follow this policy or adopt a different policy. Grading: the grade is based on a total of 100 points:

Attendance in lectures (20 pts)

MindTap activities (30 points)

Four midterm exams and a final (10 points each). The overall grading scale is based on the following scale: 100-90: A; 90-80: B; 80-70: C; 70-60: D; <60: F.


https://na01.safelinks.protection.outlook.com/?url=https%3A%2F%2Fembed.vidyard.com%2Fshare%2FtCmahZqerofRy6v3HZiSve&data=02%7C01%7Csmary%40ku.edu%7C86669a2caa6a4c98f13b08d67a399346%7C3c176536afe643f5b96636feabbe3c1a%7C0%7C0%7C636830785036577387&sdata=8edHShFRz9NqKEDnxzpAu%2FdBGfQYzZZErq6xujTJeDQ%3D&reserved=0

https://na01.safelinks.protection.outlook.com/?url=http%3A%2F%2Fwww.kubookstore.com%2Ftopic%2Fredeem&data=02%7C01%7Csmary%40ku.edu%7C86669a2caa6a4c98f13b08d67a399346%7C3c176536afe643f5b96636feabbe3c1a%7C0%7C0%7C636830785036577387&sdata=pEqzb9btm8GMSpCLQaqjx2vJKDaxRHKxnLFIp4fooYQ%3D&reserved=0

Pluses and minuses will be given within the relevant ranges. For example, for the grade of B, scores between 80 and 82.5 will be given B-, scores between 82.51 and 87.5 B, and scores above 87.5 B+. Similar ranges are used for other letters. There is no opportunity for extra credit, no rounding, and no “curving”. Note that late work is not accepted. Please plan ahead to make sure you respect deadlines. Note there is a unique deadline for all MindTap homework (5/8, 11pm). Additional information about exams can be found in an additional document on Blackboard. The additional document is considered an addendum to the syllabus and thus falls under the terms of the agreement. For make-up exams, please contact your head TA to reschedule (and put me in cc of the email). Course outline: Reading. May be subject to changes.

Week Chapters Topics

1 1,2 Introduction to Microeconomics

2 2,3 Making decisions

3 4,5 Markets/Exam 1

4 6 Government intervention

5 6 Government intervention

6 7 Efficiency/Exam 2

7 8 Taxation

8 3/8-3/15 Spring Break

9 10 Externalities/Exam 3

10 11 Public goods

11 12 Equity

12 13 Costs of production/Exam 4

13 14 Perfect competition

14 15 Monopoly

15 16,17 Market structure/Exam 5

16 N.A. Help week

Email: I will check my email frequently during the workweek, and will typically reply within 24 hours. When sending me an email, you MUST use Econ 142-XXXXX (where XXXXX corresponds to the exact section code) in the subject line. This will allow for the identification of correspondence for this course to be separated from other email and allow for timely attention and action. You can also email the Head Teaching Assistant or any other teaching assistants. Statement of inclusion and diversity: The teaching staff supports an inclusive learning environment where diverse perspectives are recognized and respected. The teaching team equally embraces a notion of intellectual community enriched by diversity along a number of dimensions, including race, ethnicity and national origins, gender and gender identity, sexuality, class and religion. It is our intent that students from all backgrounds and perspectives be well served by this course, that students’ learning needs be addressed both in and out of class, and that the diversity that students bring to this class be viewed as a resource, strength, and benefit. It is our intention to present materials and activities that are respectful of diversity and are fully inclusive. Your suggestions are encouraged and appreciated. The instructor and teaching assistants promote equal access and opportunity for all students to thrive, to engage in honest dialogue about important issues, and to use protocols for managing difficult, sudden, and emotional

moments. We provide classroom ground rules to facilitate discussions and use the SPEAK UP protocol and active learning for difficult discussions and tensions (Interrupt, Question, Educate, Echo). https://www.tolerance.org/sites/default/files/2017-06/Speak_Up_at_School.pdf Live blog: Note that we have a live blog accessible with smartphones through which students can ask questions during class. Students can also report actual or perceived micro-aggressions in discussions student-student or student-teacher on the live blog. The blog allows you to be anonymous when posting a question or a comment. Disability: Statement on Americans with Disabilities: The Academic Achievement and Access Center (AAAC) coordinates academic accommodations and services for all eligible KU students with disabilities. If you have a disability for which you wish to request accommodations and have not contacted the AAAC, please do so as soon as possible. They are located in 22 Strong Hall and can be reached at 785-864-4064 (V/TTY). Information about their services can be found at http://www.access.ku.edu/. Please contact me privately in regard to your needs in this course. Academic Misconduct: Academic misconduct will not be tolerated in this class. An instructor may, with due notice to the student, treat as unsatisfactory any student work which is a product of academic misconduct. Cases of academic misconduct may result in any or all of the following penalties: reduction of grade, admonition, warning, censure, transcript citation, suspension, or expulsion. The following information about Academic Misconduct is discussed in Article II, Section 6 of the rules and regulations of the University Senate. “Academic misconduct by a student shall include, but not be limited to, disruption of classes; threatening an instructor or fellow student in an academic setting; giving or receiving of unauthorized aid on examinations or in the preparation of notebooks, themes, reports or other assignments; knowingly misrepresenting the source of any academic work; unauthorized changing of grades; unauthorized use of University approvals or forging of signatures; falsification of research results; plagiarizing of another's work; violation of regulations or ethical codes for the treatment of human and animal subjects; or otherwise acting dishonestly in research.” It is your responsibility as a KU student to make sure you understand academic honesty and misconduct. The policy is described at this link: https://documents.ku.edu/policies/governance/USRR.htm#art2sect6. Disruptive Behavior: The scope and content of the material included in this course are defined by the instructor in consultation with the responsible academic unit. While the orderly exchange of ideas, including questions and discussions prompted by lectures, discussion sessions and laboratories, is viewed as a normal part of the educational environment, the instructor has the right to limit the scope and duration of these interactions. Students who engage in disruptive behavior, including persistent refusal to observe boundaries defined by the instructor regarding inappropriate talking, discussions, and questions in the classroom or laboratory may be subject to discipline for non-academic misconduct for disruption of teaching or academic misconduct, as defined in the Code of Student Rights and Responsibilities (CSRR), Article 22, Section C, and the University Senate Rules and Regulations, Section 2.4.6. Article 22 of CSRR also defines potential sanctions for these types of infractions. Institute of Institutional Opportunity & Access (IOA): The Office of Institutional Opportunity and Access (IOA) is responsible for administering the University of Kansas equal opportunity and non-discrimination policies and procedures, as well as, encouraging a campus climate of respect and understanding of all aspects of the human experience. To accomplish these duties, the IOA offers assistance and protective measures to students, faculty, and staff who report acts of harassment, discrimination, sexual misconduct, sexual violence, and retaliation; provides information about health, safety, advocacy, and support

https://www.tolerance.org/sites/default/files/2017-06/Speak_Up_at_School.pdf


resources for members of the Lawrence and Edwards campuses; performs formal investigations to detect, discontinue, and prevent violations of the Non-Discrimination Policy and Sexual Harassment Policy; and ensures University compliance with state and federal civil rights laws. IOA is located at 153A Carruth-O’Leary; Phone 785-864-6414; email: [email protected]; http://ioa.ku.edu/ KU Academic Access and Achievement Center (AAAC): AAAC offers many services and programs to assist students in their academic success and to enhance their collegiate experience at KU. Choose from learning strategy consultations, group workshops or general or course-specific academic assistance, by appointment or on a walk-in basis. Feel free to talk with AAAC and ask for information or direction about academic and personal issues. You can find more information at: https://achievement.ku.edu/. Phone is 785- 864-4064. The AAAC is located in Rm 22 Strong Hall. KU Writing Center: The Writing Center offers a variety of ways for students and members of the community to get feedback on their writing. It offers face-to-face consultations, online appointments, and tutoring appointments. Information regarding each type of appointment and a tool for scheduling can be found at http://writing.ku.edu/. The Writing Center has multiple locations on campus.

http://ioa.ku.edu/

Sample Assignment ECON143 Two towns, each with three members, are deciding whether to put on a fireworks display to celebrate the New Year. Fireworks cost $360. In each town, some people enjoy fireworks more than others.

1. In the town of Bayport, each of the residents values the public good as follows: Frank $50; Joe $100; Callie $300 Would fireworks pass a cost–benefit analysis? Explain.

In Bayport, the sum of the benefits ($50 + $100 + 300 = $450) is greater than the cost of the fireworks show ($360), so fireworks would pass a cost-benefit analysis.

2. The mayor of Bayport proposes to decide by majority rule and, if the fireworks referendum

passes, to split the cost equally among all residents. Who would vote in favor, and who would vote against? Would the vote yield the same answer as the cost–benefit analysis?

If the cost is split equally among all residents, the cost per resident would be ($360 / 3 =) $120. Frank would vote against because his value ($50) is less than the cost. Joe would vote against because his value ($100) is less than the cost. Callie would vote in favor because her value ($300) is greater than the cost. The result of the referendum vote would be against the fireworks, so the referendum would not yield the same answer as the cost-benefit analysis.

3. In the town of River Heights, each of the residents values the public good as follows:

Nancy $20; Bess $140; Ned $160 Would fireworks pass a cost–benefit analysis? Explain.

In River Heights, the sum of the benefits ($20 + $140 + $160 = $320) is less than the cost of the fireworks show ($360), so fireworks would not pass a cost-benefit analysis.

4. The mayor of River Heights also proposes to decide by majority rule and, if the fireworks

referendum passes, to split the cost equally among all residents. Who would vote in favor, and who would vote against? Would the vote yield the same answer as the cost–benefit analysis?

If the cost is split equally among all residents, the cost per resident would be ($360/3) $120. Nancy would vote against because her value ($20) is less than the cost. Bess would vote for because her value ($140) is greater than the cost. Ned would vote in favor because his value ($160) is greater than the cost. The result of the referendum vote would be for the fireworks, so the referendum would not yield the same answer as the cost-benefit analysis.

5. What do you think these examples say about the optimal provision of public goods?

The optimal provision of public goods is challenging because the total benefit may exceed the total cost when the average benefit is less than the average cost, or vice versa.

Sample Exam ECON143

1. Wilma values a decorative garden rock at $15, while Fred values it at $10. The price of a

decorative garden rock is $9. If the government imposes a $2 tax per decorative garden

rock and the price of the rock rises to $11, what part of the deadweight loss comes from

Wilma, and what part comes from Fred?

a.

none comes from Wilma; $1 comes from Fred

b.

none comes from Wilma; $3 comes from Fred

c.

$2 comes from Wilma; $1 comes from Fred

d.

$4 comes from Wilma; $3 comes from Fred

2. The income tax requires that taxpayers pay 10percent on the first $40,000 of income and

20 percent on all income over $40,000. Karen paid $6,000 in taxes. What were her

marginal and average tax rates?

a.

20 percent and 12 percent, respectively

b.

20 percent and 15 percent, respectively

c.

10 percent and 12 percent respectively

d.

10 percent and 15 percent respectively

3. Katherine gives piano lessons for $15 per hour. She also grows flowers, which she

arranges and sells at the local farmer’s market. One day she spends 5 hours planting $50

worth of seeds in her garden. Once the seeds have grown into flowers, she can sell them

for $150 at the farmer’s market. Katherine’s accounting profits are

a.

$100, and her economic profits are $25.

b.


c.


d.


4. What do clean air in New York City and elephants in Africa have in common?

a.

They are both common resources.

b.

They are both public goods.

c.

They are both club goods.

d.

Both are excludable.

Table 13-4

Charles’s Math Tutoring

Number of

Workers

Output (number

of students tutored

per week)

0 0

1 20

2 45

3 60

4 70

5. Refer to Table 13-4. Suppose that Charles’s math tutoring company has a fixed cost of

$50 per month for his cell phone. Each worker costs Charles $60 per day. As output

increases from 45 to 70 students, Charles’s total cost curve

a.

increases but gets flatter.

b.

increases and gets steeper.

c.

decreases and gets flatter.

d.

decreases but gets steeper.

5/1/2020 ECON 144: Principles of Macroeconomics







Please ExplainCourse will be offered online some semesters and in lecture format some semesters.

Title Principles of Macroeconomics

Transcript Title Principles of Macroeconomics


CatalogDescription

Prerequisites


Credits 3

Course Type

AssociatedComponents

(Optional)

Discussion – Mandatory discussion associated with a main componentDiscussion optional – Voluntary discussion associated with a main component



No


Yes

Typically Offered


No


SF - Public Affairs

CourseDesignator

S - Social Sciences

Yes No

In Workflow1. CLAS


2. CUSASubcommittee




Vote10. UCCC Voting





History1. Jun 7, 2017 by

lwales2. Jan 9, 2019 by

Ronda Morgison(rondaball)



Viewing: ECON 144 : Principles of MacroeconomicsLast approved: 02/01/20 4:32 amLast edit: 04/19/20 12:41 pmChanges proposed by: d665s602


Yes

An analytical introduction to macroeconomics. Topics include determination of aggregate income, employment,inflation, exchange rates, and the role of fiscal and monetary policy in dealing with unemployment, inflation, and

economic growth.

MATH 101 or MATH 103 or MATH 104, or eligibility for MATH 115 or MATH 125 or MATH 126.




BA in EconomicsBGS in EconomicsBachelor of Business AdministrationBachelor of Science in BusinessBachelor of Science in Computer Engineering














https://next.catalog.ku.edu/liberal-arts-sciences/economics/ba-bgs/ba-economics/index.html

https://next.catalog.ku.edu/liberal-arts-sciences/economics/ba-bgs/BGS-in-Economics/index.html

https://next.catalog.ku.edu/business/bachelor-business-administration/index.html


https://next.catalog.ku.edu/engineering/electrical-engineering-computer-science/bs-computer-engineering/index.html



Yes

Which Program(s)? Program Code - Name

(ECON-BA/BGS) Economics, B.A./B.G.S.

Describe how: This course is required for all programs in the Economics Department.


SupportingDocuments

Yes



Selected Goal(s)


Yes


Yes


KU Core Goal 1.2 is designed to teach students how to “define a problem, analyzenumerical information, apply mathematical principles, and integrate quantitativemethods into problem solving.” ECON 144 is an analytical introduction tomacroeconomics. Topics include determination of aggregate income, employment,inflation, exchange rates, and the role of fiscal and monetary policy in dealing withunemployment, inflation, and economic growth. It is a 3 credit course and has a collegealgebra prerequisite. It is by its very nature quantitative, with substantial mathematicalcomponents in all of its homework assignments, quizzes and exams (see attached).




ECON 144 is an analytical introduction to macroeconomics. Topics include determination of aggregate income,employment, inflation, exchange rates, and the role of fiscal and monetary policy in dealing with unemployment, inflation, andeconomic growth. It is a 3 credit course and has a college algebra prerequisite. It is by its very nature quantitative, withsubstantial mathematical components in all of its homework assignments, quizzes and exams (see attached).









To synthesize the development of principles, theories, and analytical methods over time students are expected to read the materialbefore class and then in class build on the knowledge gained from those readings with practical mathematical applications, as well asgroup collaboration and quizzes. The class also builds upon itself throughout the year. For example, the students first learn aboutaggregate income, employment, inflation, and exchange rates, and then later learn about different applications of these theories acrossdifferent markets. In this example, students may illustrate these concepts graphically, then find overall surplus and dead weight lossusing geometry. Homework and quizzes allow students to demonstrate their functional understanding of these key analytical methods.







KU CoreDocuments


Key: 3475

In class discussions allow students with a strong grasp on the material to interact with students who may be struggling and allowstudents to openly work through challenging concepts together.


Every application of economic theory is a mathematical problem. As stated above, students use geometry to find total surplus, anddead weight loss. Students solve for optimal quantities produced by a firm by solving a system of equations. Students solve for variesquantities using algebra. These basic economic problems are what make up a large part of every quiz and problem set. Theory willmake up the other, but theory can be implicitly tested through application problems.


This course moves students from their current knowledge to a deeper understanding of fundamental economic concepts through aseries of short answer homework assignments, weekly assigned readings, and regular in class discussions. The short answerhomework assignments give the opportunity for students to demonstrate their comprehension of specific concepts and help guide theirstudy. In all cases, students must determine what mathematical method is appropriate given the situation and correctly apply it.


All homework assignments, quizzes, and exams are overwhelming if not entirely quantitative. Please see attached syllabus andsample assignment and sample exam.














Syllabus ECON 144 Principles of Macroeconomics

Summer 2020 University of Kansas

Instructor: Prof. Josephine Lugovskyy, Ph.D. Office Hours: By Zoom Appointment Only (https://kansas.zoom.us/j/3459868786) Email: [email protected] Course Description: An analytical introduction to macroeconomics. Topics include determination of aggregate income, employment, inflation, exchange rates, and the role of fiscal and monetary policy in dealing with unemployment, inflation, and economic growth. Prerequisite: MATH 101, MATH 104, or eligibility for MATH 115 or MATH 121. *Note that this course is online-only. There will be no discussion section nor any other in-class meetings. Required Materials:

Loose-Leaf Version for Principles of Macroeconomics & Achieve for Principles of Macroeconomics (Six-Months Access) ISBN: 9781319346324

The ISBN above includes both a loose-leaf textbook and the assignment software Achieve. If you choose to purchase the textbook elsewhere or rent a copy, please note that the Achieve software will need to be purchased separately as we will use this to complete and submit assignments throughout the course. Not purchasing the book or software will not warrant an extension. Course Requirements and Grading:

Course Assignments Points Possible

1) Weekly Homework Assignments (8) 160

2) Weekly Chapter Quizzes (8) 80

3) Exams (2) 60

Total 300

1) Weekly homework assignments will be assessed through MacMillan’s Achieve software. Homework

will be worth 20 points each. Final homework scores will consist of an average of three attempts per assignment. Homework will be due Saturdays by 11:59pm CST.

2) Weekly quizzes will also be facilitated through Achieve and will be worth 10 points and will be due Sundays by 11:59pm CST. Final quiz scores will consist of the best of two attempts per assignment.

3) There will be two exams in this course. These will be available via Achieve only and will be worth 30 points each. You will take these exams online the same as you would a quiz. You will be allowed to enter the exam twice. Final exam scores will consist of the best of these two attempts. For those who have AAAC accommodations, please be sure to email me the week before the exam so I may setup your accommodations before you begin the exam.


Grading Policies: Grading will follow the standard scale:

Percentage Points

Required Letter Grade

100-90% 270+ A

89-80% 240+ B

79-70% 210+ C

69-60% 180+ D

59%-less 179- F

Course Outline:

Lecture Topic Assignments





Week 5: Chapters 13, 14 Chapters 13 & 14 Homework, Chapters 13 & 14 Quiz, Exam 1: Chapters 1-4, 9-12



Week 8: Chapters 22, 23 Chapters 22 & 23 Homework, Chapters 22 & 23 Quiz Exam 2: Chapters 13-17, 21-23

Extra Credit: Extra credit will be available through Achieve. Extra credit assignments are not considered required tasks, thus, any points earned on the extra credit quizzes will be added onto your total score at the end of the term. Students are not required to earn full points on the quizzes to receive credit. Any and all points earned will be counted. All extra credit assignments will be due the last day of the course.

Late Work Policy: Assignment deadlines are important as they ensure students are progressing through the course at an appropriate pace. Submitting work late is not only a detriment to student learning, it is unfair to your fellow students who did not receive the extra time to complete their assignments. It is your responsibility to ensure all course assignments are submitted on time. Extensions will only be given/accepted under extreme circumstances. In case of emergency, please notify me as soon as possible before the assignment due date and I will decide, depending on the circumstances, if an extension is appropriate and if a penalty will be assessed. All late work will automatically receive a 10% penalty. Late work will be accepted until the last day of the course (finals week) but not beyond. It is your responsibility to ensure proper technological access and timely submission of assignments. Thus, extensions will not be given for basic software problems. If you experience problems with software or technology, please contact the proper agency, not the professor. *Please note that technical issues with your computer or Achieve access does NOT constitute an emergency. Similarly, only extreme health conditions will constitute an ‘extreme’ circumstance. Flus, colds, mono, strep

throat, broken fingers, etc. are NOT considered extreme conditions, even if you have a doctor’s note. You must be hospitalized for multiple days with documentation for it to be considered extreme. Blackboard: Blackboard is our Learning Management System at KU and will be used for all interactivity and the majority of content delivery. Since homework and quiz assignments will be facilitated through the Achieve software, these scores will not be synced with Blackboard. At the end of the term, all assignment scores, along with extra credit, will be downloaded from Achieve onto Prof. Lugovskyy’s personal computer. Final grades will not be posted on Blackboard. For any problems with Blackboard, please contact Blackboard support. Achieve: Achieve is third-party software that we will use throughout the course for weekly homework and quiz assignment submission. It also contains additional learning resources such as PowerPoint presentations, lecture videos, flashcards, and practice quizzes, amongst many others. This software must be purchased at the beginning of the term to ensure timely submission of all work. Please note that if you experience problems with the Achieve software, it is recommended that you contact MacMillan first before contacting the professor. Many of the problems students face with the software are technical and software-specific, thus the professor has no access and cannot resolve them. Contact MacMillan first, then if it is determined the issue is on the professor’s side, contact the professor. Email: I will check my email frequently during the workweek and will typically reply within 24 hours. When sending me an email, be sure to list the class name and meeting time in the subject line. This will allow for the correspondence for this course to be separated from other email and allow for timely attention and action. Safe Zone: In an effort to create inclusive spaces for LGBTQIA+ individuals, Prof. Lugovskyy’s office has been designated a Safe Zone. Please feel free to visit the professor’s office if you have any questions or concerns regarding this or any other issues of safety or inclusivity. Additional information on Safe Zone and a pronoun guide can be found at: https://sgd.ku.edu/safe-zone-training. Jayhawk Student One Stop (SOS) The Jayhawk Student One Stop (SOS) is committed to assuring that every student has the opportunity to be successful at the University of Kansas. The Jayhawk Student One Stop serves as a resource for undergraduate and graduate students who are experiencing unforeseen challenges that prevent their ability to persist in achieving academic goals at KU. Through collaboration with campus and community partners, the Jayhawk Student One Stop acts alongside students to navigate campus administrative processes and provide personalized solutions to each of their inquiries, within the university’s policy and resources. More information can be found at: https://sos.ku.edu/. KU Academic Access and Achievement Center (AAAC): AAAC offers many services and programs to assist students in their academic success and to enhance their collegiate experience at KU. Choose from learning strategy consultations, group workshops or general or course-specific academic assistance, by appointment or on a walk-in basis. Feel free to talk with AAAC and ask for information or direction about academic and personal issues. You can find more information at: https://achievement.ku.edu/. Phone is 785-864-4064. The AAAC is located in Rm 22 Strong Hall. KU Writing Center:

https://sgd.ku.edu/safe-zone-training

https://sos.ku.edu/

https://achievement.ku.edu/

The Writing Center offers a variety of ways for students and members of the community to get feedback on their writing. It offers face-to-face consultations, online appointments, and an eTutoring appointments. Information regarding each type of appointment and a tool for scheduling can be found at http://writing.ku.edu/. The Writing Center has multiple locations on campus. Institute of Institutional Opportunity & Access (IOA):

The Office of Institutional Opportunity and Access (IOA) is responsible for administering the University of Kansas equal opportunity and non-discrimination policies and procedures, as well as, encouraging a campus climate of respect and understanding of all aspects of the human experience. To accomplish these duties, the IOA offers assistance and protective measures to students, faculty, and staff who report acts of harassment, discrimination, sexual misconduct, sexual violence, and retaliation; provides information about health, safety, advocacy, and support resources for members of the Lawrence and Edwards campuses; performs formal investigations to detect, discontinue, and prevent violations of the Non-Discrimination Policy and Sexual Harassment Policy; and ensures University compliance with state and federal civil rights laws. IOA is located at 153A Carruth-O’Leary; Phone 785-864-6414; email: [email protected]; http://ioa.ku.edu/.

Statement on Americans with Disabilities: The Academic Achievement and Access Center (AAAC) coordinates academic accommodations and services for all eligible KU students with disabilities. If you have a disability for which you wish to request accommodations and have not contacted the AAAC, please do so as soon as possible. They are located in 22 Strong Hall and can be reached at 785-864-4064 (V/TTY). Information about their services can be found at http://www.access.ku.edu/. Please contact me privately in regard to your needs in this course.

Academic Misconduct:

Academic misconduct will not be tolerated in this class. An instructor may, with due notice to the student, treat as unsatisfactory any student work which is a product of academic misconduct. Cases of academic misconduct may result in any or all of the following penalties: reduction of grade, admonition, warning, censure, transcript citation, suspension, or expulsion. The following information about Academic Misconduct is discussed in Article II, Section 6 of the rules and regulations of the University Senate. “Academic misconduct by a student shall include, but not be limited to, disruption of classes; threatening an instructor or fellow student in an academic setting; giving or receiving of unauthorized aid on examinations or in the preparation of notebooks, themes, reports or other assignments; knowingly misrepresenting the source of any academic work; unauthorized changing of grades; unauthorized use of University approvals or forging of signatures; falsification of research results; plagiarizing of another's work; violation of regulations or ethical codes for the treatment of human and animal subjects; or otherwise acting dishonestly in research.”

It is your responsibility as a KU student to make sure you understand academic honesty and misconduct. The policy is described at this link: https://documents.ku.edu/policies/governance/USRR.htm#art2sect6. The website of the KU Writing Center provides some excellent information and resources on how to avoid plagiarism: http://writing.ku.edu/writing-guides. We ask you to familiarize yourself with these materials this semester.

Disruptive Behavior:

The scope and content of the material included in this course are defined by the instructor in consultation with the responsible academic unit. While the orderly exchange of ideas, including questions and discussions prompted by lectures, discussion sessions and laboratories, is viewed as a normal part of the educational

http://writing.ku.edu/


http://ioa.ku.edu/

http://www.access.ku.edu/


http://writing.ku.edu/writing-guides

environment, the instructor has the right to limit the scope and duration of these interactions. Students who engage in disruptive behavior, including persistent refusal to observe boundaries defined by the instructor regarding inappropriate talking, discussions, and questions in the classroom or laboratory may be subject to discipline for non-academic misconduct for disruption of teaching or academic misconduct, as defined in the Code of Student Rights and Responsibilities (CSRR), Article 22, Section C, and the University Senate Rules and Regulations, Section 2.4.6. Article 22 of CSRR also defines potential sanctions for these types of infractions.

Sample Homework Assignment Econ 144

Price controls in the Florida orange market

The following graph shows the annual market for Florida oranges, which are sold in units of 90-pound boxes.

1. Use the graph input tool to help you answer the following questions. You will not be graded on any

changes you make to this graph.

Note: Once you enter a value in a white field, the graph and any corresponding amounts in each grey field

will change accordingly.

2. In this market, the equilibrium price is _______ per box, and the equilibrium quantity of oranges is

______ million boxes.


The equilibrium price and quantity of oranges occur at the intersection of the demand and supply curves.

Using the graph input tool, you can see that this occurs at a price of $25 per box, which is where the quantity

of oranges that producers are willing to supply is equal to the quantity consumers demand (450 million

boxes).

3. For each of the prices listed in the following table, determine the quantity of oranges demanded, the quantity of oranges supplied, and the direction of pressure exerted on prices in the absence of any price controls.

Price Quantity Demanded Quantity Supplied

Pressure on Prices (Dollars per box) (Millions of boxes) (Millions of boxes)

15

35


At a price of $15 per box, consumers demand 900 million boxes of oranges, but producers supply only 378 million boxes. Therefore, there is a shortage of 522 million boxes. In the absence of a price ceiling, a shortage exerts upward pressure on prices until there is neither a surplus nor a shortage.

At a price of $35 per box, consumers demand 0 million boxes of oranges, but producers supply 522 million boxes. Therefore, there is a surplus of 522 million boxes. In the absence of a price ceiling, a surplus exerts downward pressure on prices until there is neither a surplus nor a shortage.

4. True or False: A price ceiling below $25 per box is a binding price ceiling in this market.

a. True

b. False


In order for a price ceiling to be binding—that is, in order for it to prevent the market from reaching

equilibrium—it must be set below the equilibrium price. In this case, you found that the equilibrium price was

$25 per box. Therefore, any price ceiling below $25 per box would be binding, and any price ceiling set above

$25 per box would not.

5. Because it takes many years before newly planted orange trees bear fruit, the supply curve in the short run is almost vertical. In the long run, farmers can decide whether to plant oranges on their

land, to plant something else, or to sell their land altogether. Therefore, the long-run supply of oranges is much more price sensitive than the short-run supply of oranges. Assuming that the long-run demand for oranges is the same as the short-run demand, you would expect a binding price ceiling to result in a ____ that is ______ in the long run than in the short run.


A binding price ceiling always creates a shortage, but the severity of the shortage may differ between the

short run and the long run. In the short run, farmers may have no choice but to continue producing oranges since they already have orange trees planted. In the long run, if they cannot sell their oranges at the free-market equilibrium price, more and more farmers will switch to other crops or sell their land. Therefore, at the same price set by the price ceiling, fewer and fewer oranges will be produced.

The following graphs show the short-run and long-run effects of a binding price ceiling set at PC:

At a price of PC, the quantity demanded is QD. In the short run, the supply curve is nearly vertical, and there

is a relatively small shortage of oranges (QD−QS). In the long run, the supply curve is much flatter, and the

shortage is more severe. Because QS is much less than before, QD−QS is much greater.

Sample Exam Econ 144

1. Steve purchases some land for $30,000. He maintains it, but makes no improvements to it. One year

later he sells it for $32,000. Stephanie puts $30,000 in a savings account that pays 6% interest. Steve has

to pay the 50% capital gains tax, Stephanie is in the 35% tax bracket. The inflation rate was 2%. Who had

the higher before-tax real gain and who had the higher after-tax real gain?

a. Steve had both the higher before-tax real gain and the higher after-tax real gain.

b. Steve had the higher before-tax real gain but Stephanie had the higher after-tax real gain.

c. Stephanie had the higher before-tax real gain but Steve had the higher after-tax real gain.

d. Stephanie had both the higher before-tax real gain and the higher after-tax real gain.

2. Other things the same, if the exchange rate changes from 30 Thai bhat per dollar to 25 Thai bhat per

dollar, then the dollar has

a. appreciated and so buys more Thai goods.

b. appreciated and so buys fewer Thai goods.

c. depreciated and so buys more Thai goods.

d. depreciated and so buys fewer Thai goods.

3. If the reserve ratio increased from 10 percent to 20 percent, the money multiplier would

a. rise from 10 to 20.

b. rise from 5 to 10.

c. fall from 10 to 5.

d. not change.

4. The average price level is measured by

a. the price of oil.

b. the rate of inflation.

c. the nominal interest rate.

d. the GDP deflator or the CPI.

5. The inflation rate for 2007 is computed by dividing (the CPI in 2007 minus the CPI in 2006) by the CPI in

2006, then multiplying by 100.

a. True

b. False

6. Minimum-wage laws dictate the

a. average price employers must pay for labor.

b. highest price employers may pay for labor.

c. lowest price employers may pay for labor.

d. the highest and lowest prices employers may pay for labor.

7. Suppose a basket of goods and services has been selected to calculate the consumer price index. In

2005, the basket of goods cost $108.00; in 2006, it cost $135.00; and in 2007, it cost $168.75. Which of

the following statements is correct?

a. Using 2005 as the base year, the economy’s inflation rate was higher in 2007 than it was in 2006.

b. If 2007 is the base year, then the CPI is 33.75 in 2006.

c. If the CPI is 156.25 in 2007, then 2005 is the base year.

d. Using 2005 as the base year, the economy’s inflation rate for 2006 was 27 percent.

8. Suppose the number of buyers in a market increases and a technological advancement occurs also. What

would we expect to happen in the market?

a. Equilibrium price would decrease, but the impact on equilibrium quantity would be ambiguous.

b. Equilibrium price would increase, but the impact on equilibrium quantity would be ambiguous.

c. Equilibrium quantity would decrease, but the impact on equilibrium price would be ambiguous.

d. Equilibrium quantity would increase, but the impact on equilibrium price would be ambiguous.

9. You know that a candy bar costs sixty cents today. You also know the CPI for 1962 and the CPI for today.

Which of the following would you use to compute the price of the candy bar in 1962 prices?

a. sixty cents x (today's CPI - 1962 CPI)

b. sixty cents x (1962 CPI - today's CPI)

c. sixty cents x (today's CPI / 1962 CPI)

d. sixty cents x (1962 CPI / today's CPI)

5/1/2020 ECON 145: Principles of Macroeconomics, Honors







Title Principles of Macroeconomics, Honors

Transcript Title Princpls of Macroeconomics,Hnr


CatalogDescription

Prerequisites


Credits 3

Course Type



Yes


Yes

Typically Offered


No


SF - Public Affairs

CourseDesignator

S - Social Sciences

Yes No

In Workflow1. CLAS


2. CUSASubcommittee




Vote10. UCCC Voting





History1. Jan 20, 2018 by

Dietrich Earnhart(earnhart)



Viewing: ECON 145 : Principles of Macroeconomics, HonorsLast approved: 02/07/20 4:33 amLast edit: 04/19/20 12:44 pmChanges proposed by: d665s602


No

An honors section of ECON 144. An analytical introduction to macroeconomics. Topics include determination ofaggregate income, employment, inflation, exchange rates, and the role of fiscal and monetary policy in dealing with

unemployment, inflation, and economic growth.

Consent of the Economics Department and MATH 101 or MATH 103 or MATH 104, or eligibility for MATH 115 orMATH 125 or MATH 126. Open only to students who have been admitted to the University Honors Program, or by consent of instructor.




ECON 145 is an honors analytical introduction to macroeconomics. Topics include understanding what an economy isand how it works, evaluating the performance of an economy using data, understanding that the macroeconomic situation in acountry affects households and businesses, examining what makes an economy grow, investigating the impacts of global,national and regional shocks to an economy, and understanding how governments can influence an economy. It is a 3 credit


Bachelor of Science in BusinessBachelor of Science in EconomicsCollege of Liberal Arts & SciencesDepartment of EconomicsDepartment of History















https://next.catalog.ku.edu/liberal-arts-sciences/economics/bs/index.html

https://next.catalog.ku.edu/liberal-arts-sciences/index.html

https://next.catalog.ku.edu/liberal-arts-sciences/economics/index.html

https://next.catalog.ku.edu/liberal-arts-sciences/history/index.html



No


SupportingDocuments

Yes



Selected Goal(s)


Yes


Yes


KU Core Goal 1.2 is designed to teach students how to “define a problem, analyzenumerical information, apply mathematical principles, and integrate quantitativemethods into problem solving.” ECON 145 is an analytical introduction tomacroeconomics. Topics include understanding what an economy is and how it works,evaluating the performance of an economy using data, understanding that themacroeconomic situation in a country affects households and businesses, examiningwhat makes an economy grow, investigating the impacts of global, national andregional shocks to an economy, and understanding how governments can influence aneconomy. It is a 3 credit course and has a college algebra prerequisite. It is by its verynature quantitative, with substantial mathematical components in all of its homeworkassignments and exams (see attached).



course and has a college algebra prerequisite. It is by its very nature quantitative, with substantial mathematical componentsin all of its homework assignments and exams (see attached).





Syllabus ECON145(1).pdf Sample Assignment2 ECON145.docx




To synthesize the development of principles, theories, and analytical methods over time students are expected to read the materialbefore class and then in class build on the knowledge gained from those readings with practical mathematical applications. The classalso builds upon itself throughout the year. For example, the students first learn about aggregate income, employment, inflation, andexchange rates, and then later learn about different applications of these theories across different markets. In this example, studentsmay illustrate these concepts graphically, then find overall surplus and dead weight loss using geometry. Homework assignments allowstudents to demonstrate their functional understanding of these key analytical methods. In class discussions allow students with astrong grasp on the material to interact with students who may be struggling and allow students to openly work through challengingconcepts together.


Every application of economic theory is a mathematical problem. As stated above, students use geometry to find total surplus, anddead weight loss. Students solve for optimal quantities produced by a firm by solving a system of equations. Students solve for varies

https://next.catalog.ku.edu/courseadmin/3476/Syllabus%20ECON145(1).pdf

https://next.catalog.ku.edu/courseadmin/3476/Sample%20Assignment2%20ECON145.docx





KU CoreDocuments


Key: 3476

quantities using algebra. These basic economic problems are what make up a large part of every assignment. Theory will make up theother, but theory can be implicitly tested through application problems.


This course moves students from their current knowledge to a deeper understanding of fundamental economic concepts through aseries of short answer homework assignments, weekly assigned readings, and regular in class discussions. The short answerhomework assignments give the opportunity for students to demonstrate their comprehension of specific concepts and help guide theirstudy. In all cases, students must determine what mathematical method is appropriate given the situation and correctly apply it.


All homework assignments and exams are overwhelming if not entirely quantitative. Please see attached syllabus and sampleassignment and sample exam.


already approved.


already approved.


already approved.


already approved.

Syllabus ECON145(1).pdf Sample Assignment2 ECON145.docx


https://next.catalog.ku.edu/courseadmin/3476/Syllabus%20ECON145(1).pdf

https://next.catalog.ku.edu/courseadmin/3476/Sample%20Assignment2%20ECON145.docx


Syllabus – ECON 145

Principles of Macroeconomics - Honors

Spring 2019

Where? 321 Snow

When? 2.30-3.45 Tuesday/Thursday

Instructor: Dr Sébastien MARY

Office: 351 Snow Hall

Office hours: 1pm-2pm on Tuesday/Wednesday/Thursday

Email address: [email protected]

Terms of Agreement: It is understood that the student’s continued enrollment in this course

indicates that the student is aware of the content of, and accepts the terms of, this syllabus.

Course objectives: the primary goal is the development of basic tools of macroeconomics to

help you:

1. Understand what an economy is and how it works;

2. Evaluate the performance of an economy using data;

3. Understand that the macroeconomic situation in a country affects households and

businesses;

4. Examine what makes an economy grow;

5. Investigate the impacts of global, national and regional shocks to an economy;

6. Understand how governments can influence an economy.

While the course is focused on the US economy, we will also discuss the case of many other

economies (e.g. China, Russia, France, UK…). Overall, it is a course designed to improve your

economic literacy.

Textbook: Principles of Macroeconomics, by Greg Mankiw. Latest (older edition) edition.

Other daily/weekly reading: The Economist, The Financial Times, or similar from other

countries in other languages (e.g. El Pais, Les Echos, or die Zeit)

Grading: the grade will be based on a total of 100 points:

5 homework assignments (each worth 10 points)

3 take-home midterm exams (10 points each).

A final project (20 points)

All midterm exams will be 80 multiple choice questions. The overall grading scale is based on

the following scale:

100-90: A

90-80: B

80-70: C

70-60: D

<60: F


Pluses and minuses will be given within the relevant ranges. For example, for the grade of

B, scores between 80 and 82.5 will be given B-, scores between 82.5 and 87.5 B, and scores above 87.5 B+. Similar ranges are used for other letters.

There will be no final exam, no extra credit. There is also no “curving”. Note that late work is

not accepted. You are strongly invited to plan ahead to make sure you respect deadlines.

Additional information about exams can be found in an additional document on

Blackboard. The additional document is considered an addendum to the syllabus and thus

falls under the terms of the agreement.

Econ Lab: You are strongly invited to go to the Econ Lab. My teaching assistants Kun, Anthony

and Haoyi will be there several times a week to help you! Attendance at Econ Lab is not required.

It is voluntary, and it is unlimited. Econ Lab is a resource available to students. If a student wants to

visit Econ Lab multiple times a week that is fine. Students will receive assistance on a “first-come-

first-served basis”.

How to contact me? I will check my email frequently during the workweek and will typically

reply within 24 hours. When sending me an email, you must use Econ 145 in the subject line.

This will allow for the identification of correspondence for this course to be separated from other

email and allow for timely attention and action.

Course outline: Suggested reading.

Theme Reading

I. Introduction to

Economics

10 principles of economics (CH1)

Thinking like an economist (CH2)

The market forces of supply and demand (CH4)

Elasticity and its application (CH5)

Supply, demand, and government policies(CH6)

II. The Economy in the long

run

Measuring a nation’s income(CH10)

Measuring the cost of living(CH11)

Production and growth(CH12)

Saving, investment, and the financial system(CH13)

The monetary system (CH16)

Inflation: causes and costs(CH17)

III. The Economy in the

short run

Aggregate demand and supply(CH20)

The influence of monetary and fiscal policies(CH21)

The natural rate of unemployment(CH15)

The short-run trade-off between inflation and

unemployment(CH22)

Additional Expectations:

Respect: The classroom is a place for learning. This is best achieved by asking questions,

thinking out loud, and even making mistakes. Please treat all of your classmates with respect -

we will all struggle at some point or another. If anyone has concerns about the behavior of

other people in the class, come see me right away.

Disability: Statement on Americans with Disabilities: The Academic Achievement and Access

Center (AAAC) coordinates academic accommodations and services for all eligible KU students

with disabilities. If you have a disability for which you wish to request accommodations and

have not contacted the AAAC, please do so as soon as possible. They are located in 22 Strong

Hall and can be reached at 785-864-4064 (V/TTY). Information about their services can be

found at http://www.access.ku.edu/. Please contact me privately in regard to your needs in this

course.

Academic Misconduct: Academic misconduct will not be tolerated in this class. An instructor

may, with due notice to the student, treat as unsatisfactory any student work which is a product

of academic misconduct. Cases of academic misconduct may result in any or all of the following

penalties: reduction of grade, admonition, warning, censure, transcript citation, suspension, or

expulsion. The following information about Academic Misconduct is discussed in Article II,

Section 6 of the rules and regulations of the University Senate. “Academic misconduct by a

student shall include, but not be limited to, disruption of classes; threatening an instructor or

fellow student in an academic setting; giving or receiving of unauthorized aid on examinations or

in the preparation of notebooks, themes, reports or other assignments; knowingly

misrepresenting the source of any academic work; unauthorized changing of grades;

unauthorized use of University approvals or forging of signatures; falsification of research

results; plagiarizing of another's work; violation of regulations or ethical codes for the treatment

of human and animal subjects; or otherwise acting dishonestly in research.” It is your

responsibility as a KU student to make sure you understand academic honesty and misconduct.

The policy is described at this link:

https://documents.ku.edu/policies/governance/USRR.htm#art2sect6.

Disruptive Behavior: The scope and content of the material included in this course are defined

by the instructor in consultation with the responsible academic unit. While the orderly exchange

of ideas, including questions and discussions prompted by lectures, discussion sessions and

laboratories, is viewed as a normal part of the educational environment, the instructor has the

right to limit the scope and duration of these interactions. Students who engage in disruptive

behavior, including persistent refusal to observe boundaries defined by the instructor regarding

inappropriate talking, discussions, and questions in the classroom or laboratory may be subject to

discipline for non-academic misconduct for disruption of teaching or academic misconduct, as

defined in the Code of Student Rights and Responsibilities (CSRR), Article 22, Section C, and

the University Senate Rules and Regulations, Section 2.4.6. Article 22 of CSRR also defines

potential sanctions for these types of infractions.

Institute of Institutional Opportunity & Access (IOA): The Office of Institutional

Opportunity and Access (IOA) is responsible for administering the University of Kansas equal


opportunity and non-discrimination policies and procedures, as well as, encouraging a campus

climate of respect and understanding of all aspects of the human experience. To accomplish

these duties, the IOA offers assistance and protective measures to students, faculty, and staff who

report acts of harassment, discrimination, sexual misconduct, sexual violence, and retaliation;

provides information about health, safety, advocacy, and support resources for members of the

Lawrence and Edwards campuses; performs formal investigations to detect, discontinue, and

prevent violations of the Non-Discrimination Policy and Sexual Harassment Policy; and ensures

University compliance with state and federal civil rights laws. IOA is located at 153A Carruth-

O’Leary; Phone 785-864-6414; email: [email protected]; http://ioa.ku.edu/

KU Academic Access and Achievement Center (AAAC): AAAC offers many services and

programs to assist students in their academic success and to enhance their collegiate experience

at KU. Choose from learning strategy consultations, group workshops or general or course-

specific academic assistance, by appointment or on a walk-in basis. Feel free to talk with AAAC

and ask for information or direction about academic and personal issues. You can find more

information at: https://achievement.ku.edu/. Phone is 785- 864-4064. The AAAC is located in

Rm 22 Strong Hall. KU Writing Center: The Writing Center offers a variety of ways for students

and members of the community to get feedback on their writing. It offers face-to-face

consultations, online appointments, and eTutoring appointments. Information regarding each

type of appointment and a tool for scheduling can be found at http://writing.ku.edu/. The Writing

Center has multiple locations on campus.

http://ioa.ku.edu/

Sample Assignment ECON145

Congress and the president decide that the United States should reduce air pollution by reducing its use of gasoline. They impose a $0.50 tax on each gallon of gasoline sold.

1. Should they impose this tax on producers or consumers? Explain carefully using a supply-and-demand diagram.

It does not matter whether the tax is imposed on producers or consumersthe effect will be the same.

With no tax, as shown in Figure 7, the demand curve is D1 and the supply curve is S1. If the tax is

imposed on producers, the supply curve shifts left by the amount of the tax (50 cents) to S2. Then the

equilibrium quantity is Q2, the price paid by consumers is P2, and the price received (after taxes are

paid) by producers is P2 – 50 cents. If the tax is instead imposed on consumers, the demand curve shifts

left by the amount of the tax (50 cents) to D2. The leftward shift in the demand curve (when the tax is

imposed on consumers) is exactly the same magnitude as the leftward shift in the supply curve when

the tax is imposed on producers. So again, the equilibrium quantity is Q2, the price paid by consumers is

P2 (including the tax paid to the government), and the price received by producers is P2 – 50 cents.

2. If the demand for gasoline were more elastic, would this tax be more effective or less effective in reducing the quantity of gasoline consumed? Explain with both words and a diagram. The more elastic the demand curve is, the more effective this tax will be in reducing the quantity of gasoline consumed. Greater elasticity of demand means that quantity falls more in response to the rise in the price. Figure 8 illustrates this result. Demand curve D1 represents an elastic demand curve, while

demand curve D2 is more inelastic. The tax will cause a greater decline in the quantity sold when demand is elastic.

3. Are consumers of gasoline helped or hurt by this tax? Why?

The consumers of gasoline are hurt by the tax because they get less gasoline at a higher price.

4. Are workers in the oil industry helped or hurt by this tax? Why?

Workers in the oil industry are hurt by the tax as well. With a lower quantity of gasoline being produced, some workers may lose their jobs. With a lower price received by producers, wages of workers might decline.

Sample Exam ECON145

1. According to liquidity preference theory,

a.

an increase in the interest rate reduces the quantity of money demanded. This is shown as

a movement along the money-demand curve. An increase in the price level shifts money

demand to the right.

b.

an increase in the interest rate increases the quantity of money demanded. This is shown

as a movement along the money-demand curve. An increase in the price level shifts

money demand leftward.

c.

an increase in the price level reduces the quantity of money demanded. This is shown as a

movement along the money-demand curve. An increase in the interest rate shifts money

demand rightward.

d.

an increase in the price level increases the quantity of money demanded. This is shown as

a movement along the money-demand curve. An increase in the interest rate shifts money

demand leftward.

Pessimism

Suppose the economy is in long-run equilibrium. Then because of corporate scandal,

international tensions, and loss of confidence in policymakers, people become pessimistic

regarding the future and retain that level of pessimism for some time.

2. Refer to Pessimism. What happens to the expected price level and what’s the result for

wage bargaining?

a.

The expected price level rises. Bargains are struck for higher wages.

b.

The expected price level rises. Bargains are struck for lower wages.

c.

The expected price level falls. Bargains are struck for higher wages.

d.

The expected price level falls. Bargains are struck for lower wages.

3. U.S. Department of Labor data show that minimum-wage workers tend to be young, less

educated, more likely to be working part time, and concentrated in the leisure and

hospitality industry.

a. True

b. False

4. The economy is in long-run equilibrium when Senator Soldout argues that the Fed should

do more to fight unemployment. He argues that if the Fed increased the money supply

faster, more workers would find jobs. The Senator's argument

a.

is completely correct.

b.

is completely wrong.

c.

is true for the short run but not the long run.

d.

is true for the long run but not the short run.

ECON 142 : Principles of Microeconomics Course Change …

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Transcript of ECON 142 : Principles of Microeconomics Course Change …