Professor Robert J. Lemke
Department of Economics and Business
Lake Forest College
Spring 2007
Practice Test Answers:
Contact Information:
Office: 315 Young Hall
Phone: 847-735-5143
E-mail: lemke@lakeforest.edu
Web: http://campus.lakeforest.edu/lemke/
Class Webpage: http://campus.lakeforest.edu/lemke/econ210/index.html
Class Lectures
Section 1 Section 2 Day:
Time:
PlaceTR
8:00 - 9:20
Young Hall 423Day:
Time:
PlaceTR
9:30 - 10:50
Young Hall 423As long as there is seating available, I do not care which section you attend.
Office Hours
You are encouraged to take full use of my office hours. Officially, office hours are from 11:00 to 1:00 on Tuesdays and Thursdays. Unofficially, stop by my office anytime. Outside of stopping by my office, the best way to contact me is by e-mail at lemke@lakeforest.edu. You can also phone my office (847-735-5143) or my home (847-457-3219).
Peer Teacher
Jayme Rasmussen is the peer teacher for this class. Jayme will hold office hours / review sessions at 11:00am on Tuesdays and at 6:00pm on Wednesdays in Young Hall 313. This is an excellent opportunity for you to get help on the problem sets, get answers to questions concerning your notes, and and to work through extra problems.
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.
Goals
My goals with this class are for you to
- learn the ideas of neoclassical microeconomic theory,
- develop tools to apply theory to problems,
- think economically about economic and social problems and issues,
- use your knowledge and tools to propose, discuss, and evaluate policy prescriptions.
Text
We will not be using a formal textbook. Instead, everyone must purchase their own copy of the lecture notes. You pay at the Business Office and then give your receipt to Harriett Doud in 507 Young Hall who will then give you a copy of the notes. You must purchase the lecture notes by the second day of class, and you must purchase your own copy (no sharing) as it is important to have your own copy of the notes. The notes cost $25.
There are many textbooks on intermediate micro theory. Several copies of Microeconomics by Jeffrey M. Perloff (Pearson Addison Wesley) are available in the bookstore. If you are the type of student who needs to be able to read a textbook during your studies, then you are strongly encouraged to purchase the Perloff book.
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, and your cell-phone will be turned off. I reserve the right to lower anyone's grade who is habitually absent, disruptive, without ideas, or without answers.
Problem Sets and Quizzes
A problem set will be assigned every week or two. You are encouraged to work the problem sets in small groups (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. Groups should turn in just one set of answers. Every so often, unannounced in-class quizzes will be given in class. Problem sets will determine 10% of your course grade. Quizzes will determine 5% of your course grade.
Midterm Exams
There will be three midterm exams. Each midterm will include short answer questions and numerical problems. You will not be able to use any reference materials. I will distribute a practice test before each midterm. The dates of the midterms will be announced during class. Each midterm is worth 20% of your course grade.
Final Exam
The comprehensive final exam is worth 25% of your course grade. You will not be able to use any reference materials. The final will be given in our is scheduled from 8:30 to 11:30 in Young Hall 423. Section 1 takes the final in 423 Young Hall from 8:30 - 11:30 on Wednesday May 9. Section 2 takes the final in 423 Young Hall from 1:30 - 4:30 on Saturday May 5.
Grading Policy
The relationship between your weighted score and your grade for the class will be no more stringent than:
Percentage
90 - 100
80 - 90
70 - 80
60 - 70
0 - 60Grade
A
B
C
D
F