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UniversityofMassachusetts,AmherstDepartmentofResourceEconomics

RESECON102

INTRODUCTIONTORESOURCEECONOMICS

Fall2019TuTh10:00to11:15amThompsonHallRoom106

Professor:Dr.RongRongOffice:215StockbridgeHallE-mail:rrong@umass.eduOfficehours:Pleasemakeanappointmentbyemail.TeachingAssistants:

1. AbigailWeaver,ajweaver@umass.edu-OfficeHours:Wed10AM-noon,location:Flint105-forgradeorclasspolicyrelatedinquiry-forhomeworkcontentquestions

2. JulianaUndaSegura, jundasegura@umass.edu-OfficeHours:Thur1:30-3:30PM,location:Flint105-forcoursewebsiteaccessandtechnologyrelatedinquiry-forhomeworkcontentquestions

CourseDescriptionandObjective:In this class, you will examine a few important microeconomic concepts and learn how to apply them to understand the human society and economy. We will start by exploring economic decisions made by consumers and producers. We will then combine their actions to form the perspective of economic markets. In certain situation, markets may fail to function properly, sacrificing economic efficiency. We will discuss reasons and solutions for market failures. At the end of the course, you will be able to reason in economics and use the tools you learned from the class to guide your decision in real life. Requiredmaterial:

1. Sapling online learning system is required. Sapling is an online product that contains all learning material that you will be using for this course (lecture slides, homework, quiz, etc). You will be given an option to purchase your account without or with the ebook ($42/$92). If you opt to NOT purchase an ebook, you are required to buy a physical copy of the textbook (See textbook info below). Please follow the instruction at the last page of the syllabus to register your account. There is 2-week payment grace period in case you decide to drop the class.

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2. iClicker2. This is a personal response system that you will use in class to respond to questions. The first generation iClicker is not compatible with this class. If you have purchased an iClicker2 for another class, you may use the same device for this class.

★★★ You cannot share any of the above items. ★ ★ ★ Optionalmaterial:

1. If you signed up for a sapling system with ebook and prefer to own a physical copy as well, you may buy it either from campus bookstore or from other online sources. Here is the title of the book: Tyler Cowen and Alex Tabarrok, Modern Principles: Microeconomics, 3rd Edition, ISBN-13: 978-1429278416; ISBN-10: 1429278412 The book is on reserve at the library.

2. Basic calculator: Once in a while you will need a calculator in class. Only basic calculators (no graphing or text storing calculators) will be allowed during exams.

OtherResource:The Learning Resource Center located on the 10th floor of the W.E.B. Du Bois Library offers tutoring services for various courses. Ask for “Econ 103”. Find out more at http://www.umass.edu/lrc/ Grades:Gradeswillbecalculatedaccordingtothefollowingpercentages:

Percentage When Online Pre-class Quizzes 10% (lowest one dropped) Assigned nearly every

Thursday, Due before the Tuesday lecture starts

Online Homework 30% (lowest one dropped) Assigned nearly every Thursday, Due in 7 days

iClicker 10% (lowest two dropped) Mostly every lecture Midterm 20% Oct, 10th, 7-9PM, Thom104 Final 30% TBD Total 100% ★★★Grades are NOT curved in this class. You will receive a letter grade according the scale below. Letter Grade

A A- B+ B B- C+ C C- D+ D F

Course Grade

94 90 87 83 80 77 73 70 67 60 -

Grade Points

4 3.7 3.3 3 2.7 2.3 2 1.7 1.3 1 -

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Notes on the Online Pre-class Quizzes • For the best learning result, you are required to read the textbook material

prior to the lecture. There is a pre-class quiz each week on Sapling to check that you have read the content and have acquired basic comprehension of the material.

• The quiz is Due BEFORE the Tuesday lecture starts (10AM). • Quizzes give feedback immediately. Quizzes have unlimited trial. If you have

read the assigned chapter beforehand, it should be possible to gain full credit as long as you try reasonably hard.

• The lowest score among your quizzes will be dropped to remedy a low score or a missing submission due to any personal reasons (sick, family, etc). Please use your drop wisely as I do not offer other make-up quizzes for any other reasons.

Notes on the Online Homework • Homework is turned in using Saplings. • I will drop the lowest homework score. Similarly, please use your drop wisely.

There will be no make-up homework once you used your drop. • Technical problems with Sapling should be reported right away to Sapling’s

Custom Technical Support email (support@saplinglearning.com). The responses from them are usually very quick. For more urgent fixes, call the tech support number: 1-800-936-6899. Their hours of operation is: M-Th 8AM-3AM; F 8AM-midnight; Sat noon-8PM;Sun noon-3AM.

• An announcement will be made in class and in Moodle when a new homework is posted. It is your responsibility to find out when homework is due.

Notes on the iClicker2 Questions

• iClicker2 will be used in almost all lectures. It is your responsibility to bring yours to the class. You cannot share device with your classmates. iClicker2 responses start to count toward your grade from Sep 17th .

• For each response you enter, you earn half a point regardless of your answer. You earn another half point if you enter the correct answer.

• Students must bring their iClicker2 to each class session. Failure to do so will result in no credit for your attendance.

• The lowest two session grades will be dropped (Either forgetting iClicker2 or absence qualifies).

Notes on Sick or Event Notes: • If you are ill and cannot attend the class, please get a sick note from the

University Health Service (UHS). This is the only form of proof I will accept for illness absence.

• If you are required to represent UMass at an athletic events during the class time, please get an event note to me from your couch or team manager.

• I will collect the sick and event notes during the last week of the class. You should keep the note with you until that time.

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• If you have 0-2 sick or event notes, the lowest two iClicker grades will be dropped. If you have more than 2 notes, your iClicker grades will be adjusted by dropping these additional absences.

Notes on the Exams • Midterm will be held on Oct 10th, 7-9PM. The day of the exam, the lecture will be

cancelled. • Final exam will be held on TBD. Final is comprehensive. • There will be no make-up tests given for the midterm and final, except under

extenuating circumstances as defined in section VIII of the Academic Regulations available at http://www.umass.edu/registrar/sites/default/files/academicregs.pdf .

• Academic Conflict with Exams I will provide a make-up exam only to eligible students according to the university rules. In case of having two exams with conflicting time, please have the Registrar’s Office verify the conflict and bring me this verification at least one week before the exam.

Exam Protocol

• Please wait outside the room until we open the doors. • Sit yourselves where there is an exam copy, usually a desk away from the next

neighbor. • Bring pencils, eraser, straight edge, basic calculator, and your student ID to all

exams. • Go to the bathroom before the exam. If you need to go to the bathroom during the

exam, please bring your exam and smartphone to the proctor. • No talking is allowed during exams. • Anyone not in compliance with the exam protocol will be asked to leave.

CommunicationChannel:I make class announcement (assignment due date, exam time and location, class cancellation, etc) using Moodle throughout the semester. It is your responsibility to make sure that your account is activated and that you check it regularly. CivilityinsidetheClassroomStudents are expected to assist in maintaining a classroom environment that is conducive to learning. In order to assure that all students have the opportunity to gain from time spent in class, certain basic standards of classroom respect must be adhered to:

• Display respect for all members of the classroom community: your instructor, TAs and fellow students.

• Avoid unnecessary disruptions during class such as private conversations, checking websites unrelated to the class content.

• Laptops or tablets should only be used to take notes, and cell phones to do calculations.

• Please wait for the class to be formally dismissed before you start to pack up your things or get up to leave.

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CivilityoutsidetheClassroom• Please be respectful and use appropriate language when communicating with me

and TA over e-mail. E-mail is appropriate when used to schedule an appointment or for short questions to clarify class assignments or specific items from a lecture.

• Office visits are the best way to ask questions about general course material, and to discuss classroom issues or any other special concerns you may have about your class performance.

AccommodationStatement The University of Massachusetts Amherst is committed to providing an equal educational opportunity for all students. If you have a documented physical, psychological, or learning disability on file with Disability Services (DS), you may be eligible for reasonable academic accommodations to help you succeed in this course. If you have a documented disability that requires an accommodation, please notify me within the first two weeks of the semester so that we may make appropriate arrangements.

AcademicHonestyStatement Since the integrity of the academic enterprise of any institution of higher education requires honesty in scholarship and research, academic honesty is required of all students at the University of Massachusetts Amherst. Academic dishonesty is prohibited in all programs of the University. Academic dishonesty includes but is not limited to: cheating, fabrication, plagiarism, and facilitating dishonesty. Appropriate sanctions may be imposed on any student who has committed an act of academic dishonesty. Instructors should take reasonable steps to address academic misconduct. Any person who has reason to believe that a student has committed academic dishonesty should bring such information to the attention of the appropriate course instructor as soon as possible. Instances of academic dishonesty not related to a specific course should be brought to the attention of the appropriate department Head or Chair. Since students are expected to be familiar with this policy and the commonly accepted standards of academic integrity, ignorance of such standards is not normally sufficient evidence of lack of intent (http://www.umass.edu/dean_students/codeofconduct/acadhonesty/).

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TentativeClassCalendarSun Mon Tue Wed Thu Fri Sat

Sep/1 Sep/2

Sep/3 Introduction

Sep/4

Sep/5 Lecture 1: What is Economics? HW 1 assigned Quiz 1 assigned

Sep/6

Sep/7

Sep/8

Sep/9

Sep/10 Lecture 2: Demand Quiz 1 Due

Sep/11

Sep/12 Lecture 3: Supply HW 2 assigned Quiz 2 assigned HW 1 Due

Sep/13

Sep/14

Sep/15

Sep/16 Last day to drop with no record

Sep/17 Lecture 4: Equilibrium (i>Clickersstartcountingtowardyourgrade) Quiz 2 Due

Sep/18

Sep/19 Lecture 5: Equilibrium HW 3 assigned Quiz 3 assigned HW 2 Due

Sep/20

Sep/21

Sep/22

Sep/23

Sep/24 Lecture 6: Elasticity of Demand Quiz 3 Due

Sep/25

Sep/26 Lecture 7: More Elasticity HW 4 assigned Quiz 4 assigned HW 3 Due

Sep/27

Sep/28

Sep/29

Sep/30

Oct/1 Lecture 8: Price Ceiling Quiz 4 Due

Oct/2 Oct/3 Lecture 9: Price Floor HW 5 assigned Quiz 5 assigned HW 4 Due

Oct/4

Oct/5

Oct/6

Oct/7

Oct/8

Review Session

Oct/9

Oct/10 Midterm

(NO CLASS) HW 5 Due

Oct/11

Oct/12

Oct/13

Oct/14

Holiday

Oct/15

No Class (Monday

schedule will be followed)

Oct/16

Oct/17 Lecture 10: Externality HW 6 assigned Quiz 6 assigned Quiz 5 Due

Oct/18

Oct/19

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Oct/20

Oct/21

Oct/22 Lecture 11: Solution for Externality Issues Quiz 6 Due

Oct/23

Oct/24 Lecture 12 Public Goods Quiz 7 assigned HW 7 assigned HW 6 Due

Oct/25

Oct/26

Oct/27

Oct/28

Oct/29 Lecture 13: Tax Quiz 7 Due

Oct/30

Oct/31 Lecture 14: Subsidy Quiz 8 assigned HW 8 assigned HW 7 Due

Nov/1

Nov/2

Nov/3 Nov/4

Nov/5 Lecture 15: Competition I Quiz 8 Due

Nov/6

Nov/7 Lecture 16: Competition II Quiz 9 assigned HW 9 assigned HW 8 Due

Nov/8

Nov/9

Nov/10 Nov/11

Nov/12 Lecture 17: Monopoly Quiz 9 Due

Nov/13

Nov/14 Lecture 18: Price Discrimination Quiz 10 assigned HW 10 assigned HW9 Due

Nov/15

Nov/16

Nov/17 Nov/18 Nov/19 Lecture 19: Trade and Comparative Advantage I Quiz 10 Due

Nov/20 Nov/21 Lecture 20: Trade and Comparative Advantage II HW11 assigned HW 10 Due

Nov/22 Nov/23

Nov/24-Nov/30 Thanksgiving Recess Dec/1 Dec/2

Dec/3 Put Everything Together I

Dec/4 Dec/5 Put Everything Together II HW11 Due

Dec/6

Dec/7

Dec/8

Dec/9

Dec/10

Q&A Session

Dec/11

Dec/12

Dec/13

Dec/14

Dec/15 Dec/16 Dec/17

Dec/18 Dec/19

Dec/20

Dec/21

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FREQUENTLY ASKED QUESTIONS

I. What is Moodle? Moodle is UMass’ official online class management system used to deliver course content and host online learning activities. For details on using Moodle, see: http://www.oit.umass.edu/support/moodle/help-students

II. How Do I Access Moodle?

1. Go to the UMass homepage at: http://www.umass.edu/ 2. Click on “Moodle” on the top bar. 3. Enter your NetID (OIT User Name and Password).

a. Note that to enter Moodle you must have an active OIT account and know your user name and password. b. If you do not have an active OIT account, to access the course materials on Moodle you will need to activate your account. (For information on how to activate your account see http://www.oit.umass.edu/accounts/.)

4. Under “My Courses” click on: “RES-ECON 102-SEC 01 Intro Resource Econ Fall 2019.”

III. What is on Moodle?

1. General Course Materials: syllabus, TA contact and office hours information 2. Important Announcement (class cancellation, exam date and location, etc) 3. Reminder for weekly readings, quizzes, homework, etc. 4. Your grades 5. Use Quickmail to contact me

IV. What is NOT on Moodle? 1. Pre-Class quizzes, homework assignments. Only a placeholder exists in

Moodle so you can see the due dates of those assignments in your calendar along with your other classes. The real content of the assignments can be accessed through Sapling.

2. Book chapters and lecture slides. Access these content through Sapling.

V. How Do I Register My i>Clicker?

1. Log in to Moodle and navigate to the RESEC 102 course page. 2. Go to the top of the right column, under “i>clicker,” click on “Remote Registration” 3. Enter your Remote ID (see the picture showing how to locate it). 4. Click “Register”

VI. How Do I Access Sapling?

See the Sapling “Student Registration and Payment Instructions” information sheet on the next page.

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Sapling Student Registration and Payment Instructions

1. Go to www.saplinglearning.com/login to create an account. If you already have a Macmillan Learning account you can log in with your existing credentials and skip to step 3.

• Create your password and set all three security questions. • Start typing in your institution to select from the options that appears in the Primary Institution

or School name field. If you institution does not appear you can add it by typing in the full name.

• Accept the terms of use and click “Sign Up”. • Check your email for the confirmation link to complete your registration and return to the login

page. 2. Set your institution by searching using your institution’s full name and selecting the

appropriate option from the menu that appears. 3. Under Enroll in a new course, you should see Courses at [Your College]. Click to expand

this list and see courses arranged by subject. Click on a subject to see the terms that courses are available.

4. Click on the term to expand the menu further (note that Semester 1 refers to the first

course in a sequence and not necessarily the first term of the school year).

5. Once the menus are fully expanded, you’ll see a link to a specific course. If this is indeed the course you’d like to register for, click the link.

6. Review the system requirements and confirm that Flash is updated and enabled in your

browser. • Need Help? Answers to many common questions are found in our Student Support

Community. If you need direct assistance you can also contact technical support:https://macmillan.force.com/macmillanlearning/s/. Alternatively, call 800-936-6899.