Econ 1000

Carleton University
Department of Economics
ECON 1000 A – Introduction to Economics
2012 Summer Session (May 7 to August 15)

Instructor: Brian Glabb
Office: A-808 Loeb
Office Hours: By Appointment
E-mail: [e-mail]

Objectives: This course provides an introduction to the discipline of economics, covering microeconomics and macroeconomics. It focuses on economic principles and concepts as well as on applications. Economic analysis is applied to a variety of contemporary issues, such as trade and globalization, supply and pricing shocks and their economic implications, the causes of and policy remedies related to environment degradation, taxation and who bears the burden, the dimensions of poverty, the tradeoffs between unemployment and inflation, labour markets and minimum-wage laws, monetary growth and inflation, as well as the relationship between investment, productivity, and economic growth.

Prerequisites for Higher-level Courses: A grade of C- or higher is required to qualify for ECON/MATH1402, ECON2020, ECON 2102, ECON 2400, and ECON 3706. DEF(erred final grade) status at the end of this course precludes (continued) registration in any other course for which the former is a prerequisite.

Required Texts: Principles of Microeconomics: Fifth Canadian Edition by Gregory Mankiw, Ronald Kneebone and Kenneth McKenzie, Nelson Education/Thomson Canada, 2011 (ISBN-10: 0-17-650241-6; ISBN-13: 978-0-17-650241-6). Principles of Macroeconomics: Fifth Canadian Edition by Gregory Mankiw, Ronald Kneebone and Kenneth McKenzie, Nelson Education/Thomson Canada, 2011 (ISBN-10: 0- 17-650242-4; ISBN-13: 978-0-17-650242-3).
Study Guides to the above texts are strongly recommended.

Evaluation: The final grade in the course will be determined by assessing your performance in the microeconomics and macroeconomics parts of the course. Each of these parts is worth 50% of your final grade. The first part will evaluate your performance/understanding of microeconomics principles whereas the second half of the course will evaluate your performance/understanding of macroeconomics principles. Your final grade will be determined as follows: Micro Component:
Two Assignments 10% (5% each)
Micro mid-term exam 15% (Wednesday, June 13)
Micro (mid-session) exam 25% (Scheduled by University between June 22 and 27) 50% Macro Component:
Two Assignments 10% (5% each)
Macro mid-term exam 15% (Monday, July 30)
Macro (final) exam 25% (Scheduled by University between Aug, 18 and 23) 50%

Course Requirements: Students who can document a compelling reason for missing one of the three mid-term/session examinations will be excused and their final grade will be based on their performance in the rest of the course—i.e., the weight of each of the remaining evaluation instruments will rise by a factor of 20/17 in the case of a missed mid-term or 4/3 in the case of a missed mid-session (e.g., the final exam weight will become 25% × 20/17 = 29.41% in the former case). Students must inform the instructor of such an absence in advance, if possible. Students must fulfil all of the preceding course requirements in order to achieve a passing grade (D- or higher). Failure to submit one or more of the assignments or failure to write one or more of the mid-term/session examinations (without a documented compelling reason) will result in a grade of FND (“Failure with No Deferred final examination allowed”). Failure to write the final examination when the student has achieved satisfactory performance during the term will result in a grade of ABS (“ABSent from a required final examination”). See Academic Regulation 2.3 for the official meanings of these grades, and note that it stipulates that no course grades are final until approved by the Faculty Dean. Application to write a deferred final examination must be made at the Registrar’s Office. Students with disabilities requiring academic accommodations in the course need to contact a coordinator at the Paul Menton Centre to complete the necessary letters of accommodation. After registering with the PMC, students need to make an appointment to meet and discuss their needs with the instructor at least two weeks prior to the first mid-term examination.

COURSE OUTLINE AND READING LIST

Part 1: MICROECONOMICS 1. Introduction (Chapter 1–3) 2. Supply and Demand I: How Markets Work (Chapter 4–6) 3. Supply and Demand II: Markets and Welfare (Chapter 7–9) 4. The Economics of the Public Sector (Chapter 10–12) 5. Firm Behaviour and the Organization of Industry (Chapter 13–17) 6. The Economics of Labour Markets (Chapter 18) 7. Topics for Further Study (Chapter 21)

Part 2: MACROECONOMICS 1. The Data of Macroeconomics (Chapter 5–6) 2. The Real Economy in the Long Run (Chapter 7–9) 3. Money and Prices in the Long Run (Chapter 10–11) 4. The Macroeconomics of Open Economies (Chapter 12–13) 5. Short-Run Economic Fluctuations (Chapter 14–16) 6. Final Thoughts (Chapter 17)