1 introduction to economics ii economics 202 – microeconomics university of missouri-kansas city
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Introduction to Economics II
Economics 202 – Microeconomics
University of Missouri-Kansas City
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Course OutlineCourse OutlineEconomics 202 – Introduction to Economics IIEconomics 202 – Introduction to Economics II
Instructor: James I. Sturgeon Office: Haag Hall 211
Phone: 816-235-2837 E-mail: [email protected]
Texts: David C. Colander Microeconomics Supplement: Study Guide
Topic ScheduleSection 1 – Introduction, History and Concepts – Lectures 1 – 12, Chapters 1 - 6
Introduction - Scope and Method of Economics – Economic HistoryHistory of EconomicsEconomic Reasoning and Economic Reality – Alternative ApproachesThe Structure of the U.S Economy: Private, Public and Global
Quiz 1 -- After Lecture 8, Covers Lectures 1 - 8 and Chapters 1 - 3Demand, Supply, and Market EquilibriumThe Price System, Resource Allocation, and ElasticityFallacies and Myths: Beyond the Tools
Test 1 -- After Lecture 12, Covers Lectures 1 - 12 and Chapters 1 – 6
Section 2 Lectures 13 – 36, Chapters 8 – 17Consumer Choice and Household BehaviorProducer Decision Making – Costs and OutputShort-Run Costs and Output DecisionsCosts and Output Decisions in the Long-Run
Quiz 2 -- After Lecture 20, Covers Lectures 13 - 20 and Chapters 8 - 9
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Product Markets - Market Types, Structure and TheoryPerfect CompetitionMonopolyTest 2 -- After Lecture 24, Covers Lectures 13 - 24 and Chapters 8 - 12Monopolistic CompetitionOligopoly Competition, Technology and RealityQuiz 3 -- After Lecture 32, Covers Lectures 25 - 32 and Chapters 13 – 14Antitrust and Regulation
Section 3 Lectures 33 – 40, Chapters 7, 16 - 21Factor Markets and Technology and Reality
Inputs: Land, Labor and CapitalIncome Distribution
UnionsTest 3 -- After Lecture 36, Covers Lectures 25 - 36 and Chapters 13 – 17
Issues and Policies Externalities and Public GoodsPublic FinanceAgricultureInternational and Global
Final Examination Cover all Lectures and all Chapters
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Tests, Quizzes & Grading
ActivityPoint Value
Quiz 1 10
Test 1 50
Quiz 2 15
Test 2 50
Quiz 3 15
Test 3 50
Final 100
Existence 10
Total 300
Grading Scale
A 280
A- 270
B+ 260
B 250
B- 240
C+ 230
C 220
C- 210
D+ 200
D 180
D- 160
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Course OutlineCourse Outline
Name: James I. SturgeonOffice: Haag Hall 211 Phone: 816-235-2837E-mail: [email protected]
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David C. Colander Microeconomics
Supplemental Textbook: Study Guide
Texts
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Course Outline
Section 1 – Introduction, History and Concepts – Lectures 1 – 12, Chapters 1 – 6
Introduction - Scope and Method of Economics Economic HistoryHistory of EconomicsAlternative Approaches The Structure of the U.S Economy: Private, Public and Global
Quiz 1 – Covers Lectures 1 - 8 and Chapters 1 – 3
Demand, Supply, and Market EquilibriumThe Price System, Resource Allocation, and
ElasticityFallacies and Myths: Beyond the Tools
Test 1 – Covers Lectures 1 - 12 and Chapters 1 – 6
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Section 2 -- Lectures 13 – 36, Chapters 8 – 17
Consumer Choice and Household BehaviorProducer Decision Making – Costs and Output
• Short-Run Costs and Output Decisions• Costs and Output Decisions in the Long-Run
Quiz 2 – Covers Lectures 13 - 20 and Chapters 8 – 9
Product Markets - Market Types, Structure and Theory
• Perfect Competition• Monopoly
Test 2 – Covers Lectures 13 - 24 and Chapters 8 - 12
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• Monopolistic Competition• Oligopoly
Competition, Technology and Reality
Quiz 3 – Covers Lectures 25 - 32 and Chapters 13 – 14
Antitrust and Regulation
Section 3 Lectures 33 – 40, Chapters 7, 16 - 21
Factor Markets and Technology and Reality• Inputs: Land, Labor and Capital• Unions• Income Distribution
Test 3 – Covers Lectures 25 - 36 and Chapters 13 - 17
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Issues and Policies• Externalities and Public Goods• Public Finance
AgricultureInternational and Global
Final Examination Cover all Lectures and all Chapters
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That’s all there is to it That’s all there is to it FolksFolks
So Let’s get So Let’s get StartedStarted
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IntroductionIntroduction Nature, Scope and Purpose of
Economics Definitions of Economics
Standard -- sometimes called orthodox The study of the allocation of scarce
resources among alternative uses
Institutional -- sometimes called heterodox or Social Economics
The study of how we make a living Colander Text –
The study of how human beings coordinate their wants and desires, given the decision-making mechanisms, social customs, and political realities of society.
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Economic HistoryEconomic History Neolithic Period -- (12-13K years agoNeolithic Period -- (12-13K years ago)
Settled Life -- Civilization -- Mesopotamia First Agricultural Revolution
Wheat and Water Accumulation
Tools
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WheatWheatEmmer --
Bread Wheat
Goat Grass
Contemporary Bread Wheat
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WaterWater The Fertile Crescent Mesopotamia
Iraq Turkey Syria
The Tigris & Euphrates Rivers
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Accumulation – Economic Surplus
How is it used?
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Alternative Uses?
They could have done something else
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City of Ur – Gold Bull
Temple – City of Ur
Sumer Temple
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