ECON200B - Economics 200B Principles of Microeconomics...

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1 Economics 200B: Principles of Microeconomics Spring 2017 Instructor: Matt Daniels Office: Savery 319F Office Hours: T 3:00-4:00 p.m., W 2:30-3:30 p.m., and by appointment Email: [email protected] Course website is at: canvas.uw.edu Please read the following carefully: Overall Description of the Course: Economists in general agree with the following proposition: economics is not a field of study of something particular. Rather, it is a set of tools and concepts that can be applied to understand a great number of phenomena in the economic and social sphere. We use the tools of the science of economics to study why things are and how they change when a relevant factor or force that shapes the phenomenon under study changes. As you read the assigned textbook for this course, attend the lectures and quiz sections, and most importantly, practice applying the analytical tools of economics, you will find great insights into the workings of the economy and the amazing system of coordination that regulates our everyday life. You will be able to analyze and explain a great number of interesting and important economic as well as social issues in our world. Many of these issues part of the “conventional wisdom” believed by many— are re-examined from an in-depth and insightful perspective. As the meaning and purpose of higher education goes, this should be truly a higher education experience! Student Learning Goals: The goals for your learning fall into a couple of categories: 1. Fundamental Knowledge Understand and be able to use microeconomic terminology Explain how the highest-valued alternative foregone is the opportunity cost of what is chosen Explain how individuals and firms make themselves as well off as possible in a world of scarcity Analyze how prices inform the decisions about which goods and services to produce, how to produce them, and who gets them Analyze how government policies and different institutional arrangements affect the allocation of resources in an economy 2. Application Use microeconomic principles to understand and explain economic events and other social phenomena Critique the economic content of articles or presentations Appreciate the usefulness of economic reasoning in personal decision making
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2 Our respective responsibilities: Your Instructor: my responsibilities include clear explanations of concepts and tools, inspiring and motivating you to want to master the tools and concepts that aid you to gain insight into the workings of the economy and the society you live in, and provide a clear set of expectations for your performance. I’ll set aside some time during class to review concepts and tools through solving problems with you, and review and discuss test questions.
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