lecture slides--202(24)

lecture slides--202(24) - 1 “The founders of a new colony...

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Unformatted text preview: 1 “The founders of a new colony, whatever Utopia of human virtue and happiness they might originally project, have invariably recognized it among their earliest practical necessities to allot a portion of the virgin soil as a cemetery, and another portion as the site of a prison.”--Nathaniel Hawthorne, The Scarlet Letter (1850) 2 Where am I? • Economics 202 (Introduction to Microeconomics) . . . • with Prof. Zelder 3 Documentation • All course documents will be on Blackboard, including these slides 4 The basics • Lectures: MW, 3:30 – 4:50 pm, Tech LR2 • Discussion section: once per week, in one of the following slots: • Tuesday 3:30-4:20 pm • Thursday 3:30-4:20 pm • If you absolutely can’t come to discussion on Tuesdays at 3:30 or Thursdays at 3:30, e-mail me at [email protected], as soon as possible • If necessary, will either schedule alternative time, or make individual arrangements with TAs • Discussion sign-up: after class today, on Blackboard (under “Documents”) • Discussion sections start Tuesday January 11 and Thursday January 13 5 The textbook • Microeconomics , 9th ed., Michael Parkin (Addison-Wesley, 2010) • Supplemental stuff, like Study Guide and MyEconLab, are not necessary • Have the 8th edition (or some alternate edition) of Parkin? That’s OK, although you’ll want to check with someone who has 9th edition to figure out exactly which pages to read 6 Other readings • As companion to textbook, chapters from The Economics of (Almost) Everything (by M. Zelder), posted on Blackboard • Also, a few other brief things posted on Blackboard 7 Grading • 3 problem sets (10 percent total) • 2 midterms (50 percent total) • 1 final exam (40 percent total) • Midterm dates: • Monday January 31 • Monday February 21 • Final exam date (and time): • Tuesday March 15, 7-9 pm • Tentatively , first problem set posted on Blackboard on Monday January 10, due Monday January 17 8 Contacting me • Office hours: T 3-4 pm; W 5-6 pm; Th 1:30-2:30 pm; and by appointment • Office: Andersen 348 (in Kellogg Building, Sheridan and Foster) • e-mail: [email protected] 9 Readings • I’ll announce this on regular basis • Don’t hesitate to ask if I don’t • TODAY: sections IA and IB of syllabus • WEDNESDAY (Jan. 5): sections IB and IC, start IIA (pp. 203-206) 10 What is economics? • Zelder: “the study of human behavior” • Sociology? Psychology? • Parkin: “the social science that studies the choices that individuals, businesses, governments, and entire societies make as they cope with scarcity and the incentives that influence and reconcile those choices” • What does “scarcity” mean? It means choices are necessary • Choices can be monetary (buy a Coke?) or nonmonetary (sleep an extra hour?) 11 Importance of choice • Why is economics “the study of human behavior”?...
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lecture slides--202(24) - 1 “The founders of a new colony...

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