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University of Missouri-Columbia
Department of Economics
Economics 1014, Principles of Microeconomics
Fall 2007
Instructor: Dr. M. Pantal
Department of Economics
13 Professional Building
Syllabus

Description
This course is about decision making. It provides a framework
for understanding
business decisions and personal choices. In particular,
Microeconomics explains the
decisions made by individual consumers, producers, workers,
savers, and investors.
We discuss the purpose of economic transactions and
introduce the role of markets
as a mechanism for allocating goods, services, and natural
resources to alternative
uses.

Class Meetings (Please check your schedule for

information regarding your lab section)
9:00 a.m. – 9:50 a.m. on Monday and Wednesday in
Conservation Auditorium from
Monday, August 20 through Thursday, December 6,
except Monday, September 3
(Labor Day) and November 17 - 25 (Thanksgiving
recess).

Other Important Dates

o Monday, September 24: Last day to drop the course without a
grade
o Monday, October 29: Last day to withdraw from the course
(Note: For more important dates, please visit
http://registrar.missouri.edu/General_Resources/Dates_and_Deadlines.h
tm)

Required Materials
o Textbook
N. Gregory Mankiw
Principles of Microeconomics
Fourth Edition
Thomson/South-Western Publishers
o Aplia Registration
This software offers textbook-correlated, auto-graded problem
sets and
interactive tutorials. It also gives access to high quality
interactive
assignments that are both engaging and thought-provoking.
This semester,
there will be 10 mandatory Aplia assignments. Please look at
the due dates
for each of these assignments as soon as possible.
o Reader
Current and Classic Readings for Microeconomic Literacy
Edited by Ronald M. Harstard and Sharon Ryan.

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(Note: The required materials are not available from the University
bookstore. They come
as a bundle that must be purchased online from the following site:
http://economics.missouri.edu/courses/FS2007/1014_textbooks.shtml
. You may also go on
http://www.aplia.com now to register on Aplia. Enter your information
exactly the way it is
in “myZou”. The course key is 56LY-MTLB-T9SL. All students have
the option to
purchase each item separately. If you wish to charge your
online purchase on your student
account, rather than using a credit card, please go to the
Department of Economics at 118
Professional Building.)

Communication
Primary source of information: Your TA
Scheduling Conflict: The Head TA (George Chikhladze,
GC60F@MIZZOU.EDU)
Secondary Source of Information: Me
o Office Hours: 12:00 p.m. – 01:00 p.m. on Monday and
Wednesday
o Appointment (if office hours are not convenient)
o Phone: 884-6526
o E-mail: Pantalm@missouri.edu
All Information: www.missouri.edu/~pantalm and
http://courses.missouri.edu/
Evaluation
Lab quizzes : 100 points
Applia Assignments : 100 points
Exam 1 (Tuesday, September 25, 8:00 – 9:00 p.m.) :
100 points
Exam 2 (Tuesday, October 30, 8:00 – 9:00 p.m.) : 100
points
Exam 3 (Wednesday, December 12, 6:00 – 8:00 p.m.) :
200 points

Final Course Grade

600 – 582 : A+
581 – 558 : A
557 – 540 : A-
539 – 522 : B+
521 – 498 : B
497 – 480 : B-
479 – 462 : C+
461 – 438 : C
437 – 420 : C-
419 – 402 : D+
401 – 378 : D
377 – 360 : D-
359 – 000 : F

Test Policies (Valid for all exams, quizzes, and Applia

Assignments)
o All tests are mandatory.
o No make up will be given for missed quizzes or “forgotten”
Applia
Assignments.
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o The head TA may decide to arrange make up exams for
students with
scheduling conflicts.
o Scantron forms without the requested administrative
information will be
penalized.

Class Schedule
Week Topics Readings
Aug. 20 – Aug. 24 Administrative Issues
Microeconomic methodology

Chapters 1 and 2
Aug. 27 – Aug. 31 Interdependence and the gains
from trade

Chapter 3
September 3 No class (Labor Day) Chapter 4

Sep. 4 – Sep. 7 How markets work

Chapter 4
Sep. 10 – Sep. 14 Elasticity and its application

Chapter 5
Sep. 17 – Sep. 21 Effect of government policies

Chapter 6
September 24 Review

Chapters 1 - 6
Sep. 25, 8:00 p.m. Exam 1

Chapters 1 - 6
Sep. 26 – Sep. 28 Welfare Economics

Chapter 7
Oct. 1 – Oct. 5 Welfare Economics

Chapter 7
Oct. 8 – Oct. 12 The cost of taxation

Chapter 8
Oct. 15 – Oct. 19 International Trade

Chapter 9
Oct. 22 – Oct. 26 Market Failure

Chapters 10 - 11
October 29 Review

Chapters 7 - 11
Oct. 30, 8:00 p.m. Exam 2
 Chapters 7 - 11
Oct. 31 – Nov. 2 The costs of production

Chapter 13
Nov. 5 – Nov. 9 The costs of production

Chapter 13
Nov. 12 – Nov. 16 Perfect competition

Chapter 14
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Nov. 19 – Nov 23 No Class (Thanksgiving recess)

Chapter 15
Nov. 26 – Nov 30 Monopoly

Chapter 15
Dec. 3 – Dec. 6 Introduction to game theory

Chapter 16
Dec. 12, 6:00 p.m. Exam 3 Chapters 1 - 16

Aplia Assignments (Each assignment will automatically vanish

at 11:45 p.m. on its due
date)

Assignment Due
Thinking Like an Economist II September 1
Interdependence and the Gains from Trade I September 8
The Market Forces of Supply and Demand I September 15
Elasticity and its Applications I September 22
Supply, Demand, and Government Policies I October 6
Consumers, Producers, and the Efficiency of Markets I October
13
Application: The Cost of Taxation II October 20
Application: International Trade II October 27
Externalities II November 10
Firms in Competitive Markets I November 17
Monopoly I December 1

Reader Assignments (Questions about each assignment will be

asked on the quiz
following the assignment’s due date)

Assignment Due
The Hot Major for Undergrads is Economics, page 1 August 25
How Much is Your Time Worth?, page 155 September 1
To Reduce the Cost of Teenage Temptation, Why Not Just Raise
the
Price of Sin?, page 53
September 15
How an Earnings Tax Harms Cities Like St. Louis and Kansas
City,
page 119
September 22
I, Pencil, page 305 October 6
Policy Debate: Should There be a Market for Organs?, page 313
October 6
SURVEY: GLOBALIZATION – Profits Over People, page 135
October 20
Imports Help Consumers – If Not Politicos, page 141 October 20
Balancing Act: Lives vs. Regulations, page 129 October 27
Why Popcorn Cost More at Movies, page 181 December 1

Honesty
Academic honesty is fundamental to the activities and
principles of a university. All
members of the academic community must be confident that
each person’s work has
been responsibly and honorably acquired, developed, and
presented. Any effort to
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gain an advantage not given to all students is dishonest
whether or not the effort is
successful. The academic community regards academic
dishonesty as an extremely
serious matter, with serious consequences that range from
probation to expulsion.
When in doubt about plagiarism, paraphrasing, quoting, or
collaboration, please
ask me.

Important Notes for Students with Special Needs

(1) Students having disabilities which might affect their work
(in or out of class)
should check with me as soon as possible. MU can make a
variety of arrangements
that help insure equal opportunity. It is your right and I am
glad to work with you
on this.

(2) Keep in touch with MU’s Office of Disability Services, A038

Brady Commons,
882-4696. For information on resources for students with
disabilities, click on
“Disability Resources” on MU’s homepage.

(3) If you have emergency medical information, or if you need

special arrangements
in case the building must be evacuated, please inform me
immediately. You may
talk with me privately after class, or at any other time that is
convenient for you.