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Unformatted text preview: igopoly. SLO2: Students will learn how to identify and measure alternative categories of benefits and costs and demonstrate how
such values affect economic decisions. Students will learn how to use consumer and producer price and quantity data to
critically analyze the effects of changes in exogenous factors on market outcomes. Students will also learn to use market
data to calculate elasticity measures in order to describe consumer and producer responses to changes in price. The
predicted results of economic models - specifically the competitive and imperfectly competitive market models - will be
tested against real world data.
SLO3: Students will demonstrate the ability to critically analyze economic arguments using microeconomic modeling.
Students will analyze the impact of exogenous economic changes and price policies in the context of these models.
Students will compare model predictions about the efficiency and equity of resource allocation under different market
structures against real world data.
SLO4: Students will articulate how international trade can lead to more efficient and desirable quantity and price
outcomes for society. Students will be able to convey both the intent and the result of price control policies such as price
ceilings and price floors. Students will articulate the alternative merits and inherent tradeoff between efficient and
equitable market outcomes. Students will also be able to articulate social efficiency outcomes related to various levels of
competition and how public policy can assist or impede such competition.
Your grade in this course will be based on performance on two exams, three short quizzes, attendance, and a
comprehensive final. The plus/minus system will be implemented on final grades where appropriate. The
weights assigned to each component of your grade are as follows:
- 2 mid-semester exams = 44% of final grade (22% each)
- Attendance = 10% of final grade
- 3 quizzes = 21% of final grade (7% each)
- Final exam = 25% of final grade
The two mid-semester exams will likely be mostly multiple choice with a few short answer questions (true/false
or fill-in-the-blank). Each exam will test your knowledge of material covered since the previous exam, so the
exams are not explicitly comprehensive. However, nearly all of the material in this class builds on previously
attained knowledge. You will find that you will be using information from the first part of the semester
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- Spring '07