Maria Jose Rodriguez
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    • Current Teaching Econ-4337
    • Econ-1102 Spring 2014
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    • Econ-1101 Fall 2012 - Spring 2013
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ECON 1101 Section 40

Administrative Material


Meeting Times:
Lecture: Section 40, Hanson Hall 1-107 Tu 5:15 - 7:45 PM 


Recitation (TA)
  • Sec 041, BH 260, Tu 7:55 - 8:45 P.M,   TA: Mons Chan
  • Sec 071, BH 115, Tu 7:55 - 8:45 P.M,   TA: Shiv Dixit

Office Hours: Tuesdays 3:00- 5:00 PM in Hanson Hall 3-161
You can contact me by email: rodri529@umn.edu (I'll try to respond within 24 hours) Include in the subject "ECON1101"

TA Office Hours: 
  • Section 41 (Mons): W 1:00 - 3:00 pm HH 3-103
  • Section 50 (Shiv):   W 1:00 - 3:00 pm HH 3-137

Course Syllabus: link
Moodle Website: https://ay13.moodle.umn.edu/course/view.php?id=2630


Information about Aplia and Homework
  • Homeworks must be turned in using APLIA, the access code can be purchased with the hard copy at the bookstore 
  • To register in Aplia

Class Material


Week 1 (Tuesday Sept 3rd )
We covered:
  • Highlights from the Syllabus, What is Economics?, Textbook Economics, Economic Models
  • Demand and Supply in Auctions, International Application: Auction Markets for Electricity in the United Kingdom
Handouts:
  • Lecture 1.1 (welcome)   slides
  • Lecture 1.2 (auctions)    slides
  • UK electricity market      reading
  • Math refresher               document

Week 2 (Tuesday Sept 10 )

We covered:
  • Recap of Auctions, bidding strategies, intro to demand and supply
  • Demand and Supply and Shifts in Demand and Supply,  Auction Experiment
Handouts:
  • Lecture 2.1 (auctions and intro to supply and demand)         slides
  • Lecture 2.2 (excess supply, excess demand and shifts)        slides

Week 3 (Tuesday Sept 17 )
We covered: 
(i) Elasticity; (ii) International Application: Fuel Consumption in Europe and the U.S.; (iii) Widget Industry in Econland, Producer, Consumer, and Total Surplus
Assignments: 
  • For review of determinants and shifts in supply and demand: read last part of slides of lecture 2.2 (above)
  • For elasticity: Read chapter 5 of Mankiw
  • For long run elasticity: Read the outside reading Fuel Consumption in Europe and the U.S.
  • For efficiency: Read chapter 7 of Mankiw

Handouts
  • Lecture 3.1 (shifts in supply and demand and Elasticity -short run)      slides
  • Lecture 3.2 (long run elasticity and income elasticity)                           slides
  • Lecture 3.3 (Econland, Gains from trade and Pareto efficiency)           slides

Week 4 (Tuesday Sept 24)
We covered: Pareto efficiency and market allocation, taxes, subsidies and price ceilings
Assignments: 
  • For efficiency: Read chapter 7 of Mankiw
  • For taxes and subsidies read chapters 6 and 8 of Mankiw
Handouts:
  • Announcements for week 4 (please read)                            slides
  • Lecture 4.1 (Pareto efficiency and market allocation)          slides
  • Lecture 4.2 (Taxes)                                                              slides
  • Lecture 4.3 (Subsidies and Price Ceilings)                          slides

Week 5 (Tuesday Oct 1st )
We covered: Price ceilings, price floors and supply management (quotas)

Assignments and announcements: 
  • For quotas: Read the outside reading 3 Supply Management of the Dairy Industry in Canada
  • Midterm covers through lecture 5.2
  • Preparation for midterm (practice midterms spring 2013 and fall 2012 and solutions guide in available in moodle)

Handouts
  • Lecture 5.1 (Price celilings)                                           slides
  • Lecture 5.2 (Price floors and supply management)       slides

Week 6 (Tuesday Oct 8)
We covered: Externalities  and policies to achieve social efficient quantity (piguivan tax, command and control, cap and trade)
Textbook reading: Chapter 10
  • Lecture 6.1 (externalities and piguvian tax)                                       slides
  • Lecture 6.2 (command & control, cap & trade, climate change )       slides
  • External Reading 4 Global Externalities and “Cap and Trade            
  • Additional note on externalites                                                           note

Week 7 (Tuesday oct 15)
We covered: (i) Global Issue 2: International Trade and its impacts: (ii)The Production possibility Frontier, Comparative Advantage and International Specialization
Textbook reading Ch 3,9

Assignments: For next class reading 5 

Handouts:
  • Policies to frame your ideas for debate (extract from Lec 7.i in moodle)        slides
  • Lecture 7.1 (International Trade and its impacts)                                          slides
  • Lecture 7.2 (Production Possibility Frontier)                                                 slides
  • Note material of 7.1 and 7.2 corresponds to lec 7(i) - 7(iii) in moodle

Week 8 (Tuesday oct 22)
We covered: (i) Trade Policy and China, Public Goods and the Commons Problem;  (ii) Consumer Theory: Budget Set and Preferences; (iii) Consumer Theory: Choice. 
Textbook reading Ch 11,21

Assignments: 
  • Reading 5  Trade Policy and China

Handouts:
  • Lecture 8.1 (Trade and China, Public Goods)         slides
  • Lecture 8.2 (Budget set and preferences)               slides
  • Lecture 8.3 (Theory of Choice)                                slides

Week 9 (Tuesday oct 29)
We covered: (i) Income and Substitution Effects (ii)Costs; (iii) Short-Run Supply of Firm, Long-Run Supply of Firm; (iv) Short-run Supply of Industry, Long-run Supply of Industry.  Textbook reading Ch 13 and 14

Handouts:
  • Lecture 9.1 (Income and Substitution Effects)                       slides
  • Lecture 9.2 (Theory of firms: Cost)                                        slides
  • Lecture 9.3 (Supply of the firm and industry)                         slides

Week 10 (Tuesday nov 5)
We covered: (i) recap of supply of industry and International Application: Imports from China and Plant Exit in the United States; (ii) Broad Social Science Applications of the Theory of Consumer Choice

Assignments: 
  • Reading 6: Imports from China and Plant Exit in the United States
  • NY times article: http://www.nytimes.com/2013/09/30/business/a-wave-of-sewing-jobs-as-orders-pile-up-at-us-factories.html?_r=0

Handouts:
  • Lecture 10.1 (international application)              slides
  • Lecture 10.2 (theory of consumer choice)          slides

Week 11 (Tuesday nov 12)
We covered: (i) Monopoly, (ii) Natural Monopoly, Price discrimination. Textbook Reading Ch 15

Handouts:
  • Lecture 11.2: intro, inefficiency and natural monopoly               slides
  • Lecture 11.3: price discrimination (perfect and imperfect)         slides
  • Introductory note to Intelectual Property protection                     note

Week 12 (Tuesday nov 19)
We will cover: : (i) Global Issue 3: Intellectual Property Protection and the Global Economy


Assignments
  • External reading: Reading 7: Intellectual Property Protection and the Global Pharmaceutical Industry
  • Textbook Reading Ch 17 for Oligopoly

Handouts:
  • Lec 12.1: intro to intelectual property protection and modeling patents    slides
  • Lec 12.2: changes in policies                                                                    slides
  • Additional Notes for oligopoly (additional source for homework)              notes

Announcements
  • There is no recitation next week but we have lecture at the usual time (5:15)
  • Results of second midterm are posted in moodle (gradebook) the average was 80.4

Week 13 (Tuesday nov 26)
We covered: (i) Game Theory and Oligopoly (ii) Application of Game Theory to Broad Social Science Issues. 
Textbook reading Ch 17

Handouts
  • Lec 13.1: Intro to game theory and oligopoly
  • Lec 13.2: More on oligopoly and application to social sciences           slides
Notes: Lec 13.1 covers 12(iii) in moodle and lec 13.2 covers 13(i) in moodle slides are for both lectures

Week 14 (Tuesday dec 3rd)

We coved: (i) Labor Demand and Supply; (ii) Productivity; (iii) Inequality

Assignments:
  • Textbook Reading: Ch 18 (Parts 1,2,3, which can be found on pages 375-389), 
  • Textbook Reading: Ch 19 and Ch 20

Handouts
  • Lec 14.1 Labor Demand, Supply, Productivity and Inequality           slides
  • Lec 14.2  Unions                                                                               slides

Note: Lec 14.1 corresponds to 14(i) and 14(ii) of moodle. Lec 14.2 to 14(iii) of moodle. Slides are not self contained as we also worked on the whiteboard

Week 15 (Tuesday dec 10)

We covered: (i) Moral Hazard and Adverse Selection; (ii) International Application: Moral Hazard in the Euro Zone. 

Textbook Reading: Ch 22 (Part 1: Asymmetric Information, pages 468-473)

Handouts:          slides
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