ECON 210: MICROECONOMIC THEORY
Professor Robert J. Lemke
Department of Economics, Business, and Finance
Lake Forest College
Fall 2015

Assignments:

WEDNESDAY, SEPTEMBER 16: TEST ONE: CHAPTERS 1 - 6.
FRIDAY, OCTOBER 9: TEST TWO: CHAPTERS 5 - 9.
MONDAY, NOVEMBER 2: TEST THREE: CHAPTERS 10 - 14.
MONDAY, NOVEMBER 23: TEST FOUR: CHAPTERS 15 - 18.
FINAL EXAM: CHAPTERS 1 - 22.

Contact Information:

Office: 418 Young Hall
Phone: 847-735-5143
E-mail: lemke@lakeforest.edu
Class Webpage: http://campus.lakeforest.edu/lemke/econ210/index.html

Course Catalog Description

ECON 210 Microeconomic Theory: Application of both theoretical and empirical analysis to consumer demand; to the firm both as producer of goods and as buyer of inputs, in both monopoly and competitive markets; and to public policy issues such as public goods, law and economics, and the environment. Prerequisites: Economics 110 and Mathematics 110 or 160 with grades of C- or better.

Learning Objectives

My objectives of this class are for you to learn the ideas of neoclassical microeconomic theory, to develop tools to apply theory to problems, to be able to think economically about economic and social problems and issues, and to use your knowledge and tools to propose, discuss, and evaluate policy prescriptions.

We will work through all 22 chapters in the book, which includes consumer theory, producer theory, and several special topics. Students will be challenged with frequent homework problems in order to prepare themselves to demonstrate their knowledge and abilities on tests.

Class Lectures

Section 1 meets MWF 10:00 - 10:50. Section 2 meets MWF 11:00 - 11:50. Both sections meet in 320 Young Hall. As long as there is seating available, you may attend either section.

Office Hours

You are encouraged to take full advantage of my office hours, which are are from 8:00am - 10:00am and 12:00pm - 2:30pm on Mondays and Wednesdays, and by appointment. Outside of stopping by my office, the best way to contact me is by e-mail at lemke@lakeforest.edu.

Class Tutor

Ned Yonkers, the paper grader for the class, will hold office hours 8:00pm - 9:00pm on Tuesdays and Thursdays in 511 Young Hall. Attending Ned's office hours is an excellent opportunity for you to get help on the problem sets, get answers to questions concerning your notes, and to work through extra problems.

Textbook

There is no formal textbook for the class. Rather, you must purchase your own copy of the lecture notes for $30. Everyone must bring their own copy of the notes to class each day

You can pay in the business office (North Hall) from 8:30 - 3:30 or you can pay online with a credit card at http://secure.acceptiva.com/?cst=041a02 . When you pay, you will be given or emailed a receipt. Take the receipt to 121 Young Hall where you will then pick up a copy of the notes. If you want to purchase a textbook for further reading, almost any calculus-based textbook would do.

Attendance and Class Participation

Regular attendence and class participation are expected. Participation includes asking and answering questions, offering ideas on a topic, presenting answers to problems, etc. I expect you will be on time with your cell-phone turned off. I reserve the right to lower anyone's grade who is habitually absent, disruptive, without ideas, or without answers. Please do not excuse yourself during class except for in an emmergency.

As long as seating is available, I do not care which section of the class you attend with the exception that you must take the exams during the section time that you are officially registered for.

Problem Sets

Problem sets will be assigned regularly (i.e., almost daily). You are encouraged to work the problems in small groups of up to 6 students. You are expected to produce neatly written answers to be turned in at the start of class on the due date. Late papers will not be graded. Groups should turn in just one set of answers.

Exams

There will be four midterm exams plus a comprehensive final examination. Each exam will include short answer questions and numerical problems. You will not be able to use any reference materials on the exams. The midterm exam dates will be announced in class. The final exam for section 1 will take place in Young Hall 320 on Monday, December 14 from 8:30 - 11:30. The final exam for section 2 will take place in Young Hall 320 on Friday, December 11 from 8:30 - 11:30.

Grading Policy

Problem sets will determine 20% of your grade in the course. The four midterm exams and the final exam will factor into your final grade in one of two ways, whichever is better for you. Option (1): all five exams are worth 16% of your final grade. Option (2): the four midterm exams are each worth 10% of your final grade, and the final exam is worth 40% of your final grade. The relationship between your weighted score and your grade for the class will be no more stringent than the typical 90 - 80 - 70 - 60 schedule.