Memorial University of Newfoundland

Department of Economics

ECON 1010 - 081/082/083: Introduction to Microeconomics

Fall 2021

Instructor: Dr. Nahid Masoudi

Pearson Course ID: masoudi03233

Online Office Hours: Please book an appointment directly from your course home page
(Communications -> WebEx -> Office hours) or by email.
E-mail: [email protected]

Course Description and Objectives:

This course provides an understanding of microeconomics' basic principles and their use in
analyzing contemporary economic issues. It begins with an introduction to economics’
methodology and continues with an analysis of demand and supply. Interactions among markets,
elasticity, and consumer behavior are also discussed. A theory of the firm is presented, together
with considerations regarding the influence of market structure on firm behavior. Market
failures, government intervention, and the general theory of welfare economics are considered.

By the end of the course, students are expected to have a clear understanding of how to analyze
individuals and firms' economic behavior within a market system economy. For example, when
the government or a private sector company announces a new project, the tools of analysis
acquired through this course will allow students to be more informed about what is involved in
the decision-making process; the tool kit will allow you to identify some implications that may
not be readily apparent to the general public.

Lectures:
All lectures are pre-recorded and available on your course webpage. A general rule is that, each
week we will cover one chapter of your textbook. Therefore, you are expected to watch the
lectures and read the assigned chapter on a weekly basis. It is important to keep in mind that
students who tend not to follow their weekly schedule are unlikely to succeed in this course.
To keep your studies on schedule, you are given regular weekly quizzes which will compose
20% of your final grade.

Students are expected to visit the MUN online course services “Desire2Learn” (D2L) at:
https://online.mun.ca/index.asp, regularly.
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The minimum required weekly workload for successful completion of this
course:

• Time spent following the recorded lectures: 3 hours per week

• Time allocated for course readings: 3 hours per week
• Time allocated for working on the quizzes: 2 hours per week

Textbook:

Required: Ragan (2019) Microeconomics, 16th Canadian edition. Pearson. Pearson Course ID:
masoudi03233

Various textbook packages are available from the publisher. There are different formats of the textbook
available (paperback, loose leaf and e-text). The book can be purchased at the University Bookstore or via
publisher’s website (see:
https://shop.mun.ca/CourseSearch/?course[]=DEDU,FALL21,ECON,ECON101082,& )

(Previous editions: Earlier editions of the textbook can be used for the course, however chapter references
provided in this syllabus and by the instructor refer only to the 16th edition. Students are responsible for
ensuring they cover the relevant material if using a different edition.)

OTHER RESOURCES (Suggested):

Pearson MyEconLab: This tool provides additional resources including practice questions and
explanations to accompany Ragan Microeconomics (16th edition). Access to this online resource to
accompany the textbook can be purchased with or without the textbook. Students may find MyEconLab
to be a useful resource for study purposes but it is not a requirement for this section of the course.

Suggested textbook:

The Economy, by the CORE Project. You can find the free e-book (and many other useful projects) here
https://www.core-econ.org/project/core-the-economy/ This is an excellent read and many real-world
problems are explained using economics tools.

Grading Scheme:
• Online Weekly Quizzes 20% Ongoing (10 quizzes in total)
• Midterm exam I 20% Friday, Oct. 29 (Ch. 1-5)
• Midterm exam II 20% Friday, Nov. 19 (Ch. 6-8)
• Final exam 40% BA (Comprehensive, Ch. 1-10)
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Notes:
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 • All course materials, updates, exams, etc. can be found on your online course:
https://online.mun.ca/d2l/home->ECON-1010.

• Students should expect about 45 multiple-choice questions on each term exam and about
65 multiple choice questions for the final. Questions will be very similar to the weekly
quizzes.

• There are 10 weekly quizzes. Each quiz will be available for about one week. Check your
course webpage regularly and make sure to submit your quizzes before the due date. The
quizzes will be closed at 11:59 pm (official NL time, NOT your computer time) on the
due date, so please make sure to finish your quiz much earlier to avoid missing marks.

• Quizzes deadline cannot be extended for unsubstantiated reasons.

• For each quiz, you have up to three attempts (only the highest grade of the three attempts
will be recorded).

• For technical issues, please, contact MUN Support Centre (available at

https://online.mun.ca/d2l/home) immediately. If you miss a quiz due to technical reasons,
a proof of technical problem is required to obtain an extension.

• If you miss a quiz for a valid and documented reason, please, contact me as soon as
possible. If a weekly quiz is missed for any reason which is not acceptable a grade of zero
will be recorded for that quiz.

• Students who miss a midterm exam for a valid and documented reason should contact the
instructor immediately. If an exam is missed for any reason which is not acceptable, a
grade of zero will be recorded for that exam. Deferred final exams are the Department
of Economics’ responsibility and, as such, are subject to the conditions specified by the
department.

University regulations:
« For Fewer Than Five Days:
A student who is prevented from completing part of the course evaluation due to illness
or medical condition(s) of less than 5 calendar days’ duration may apply for shifting the
the weight from the missed midterm or assignment to the final exam. This requires
declaring to the instructor that the student has experienced such an illness or medical
condition. The declaration should be made in writing through the student’s @mun.ca e-
mail account. The declaration should be made in advance of the original date on which an
in-class part of the evaluation is to be held but no later than 48 hours after the original
date of the part of the evaluation. If the declaration is made by telephone, written
confirmation must then be received by the instructor within 7 calendar days of the
original date of the part of the evaluation.
« For Five Days or More:
- A student who is prevented from completing a part of the evaluation by illness of at
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least 5 calendar days’ duration, bereavement or other acceptable cause, duly

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authenticated in writing, may apply for shifting the the weight from the missed midterm
 or assignment to the final exam. This application should be made in advance of the
original date on which an in-class part of the evaluation is to be held, wherever possible,
but no later than 48 hours after the original date of the part of the evaluation. If
application is made by telephone, written confirmation must then be received by the head
of the appropriate academic unit within 7 calendar days of the original date of the part of
the evaluation. The following supporting documentation is required:
- For illness or medical conditions, medical documentation from a health professional is
required. Students should provide the health professional with a copy of the Student
Medical Certificate (www.mun.ca/regoff/STUDENT_MEDICAL_CERTIFICATE.pdf)
- For bereavement or other acceptable cause, official documents or letters that support the
reason for the request (e.g. death certificate, letter from employer, etc.) are required.

• You are responsible for the readings assigned and the material covered.

• The lectures will help you navigate the readings. Regular following of the lectures will
make it easier for you to read the assigned chapters more efficiently.

• All exams, updates, slides, notices, marks, etc. will be posted on the MUN online course
services “Desire2Learn” at https://online.mun.ca/index.asp. You are responsible for
checking your course webpage frequently.

Other resources:
• Is it hard to learn? Maybe you need to learn how to learn!
https://www.youtube.com/watch?v=3d73Qsr-Hm4&feature=youtu.be

• Is it hard for you to commit to your goal? “StickK” might help then, check it out at
http://www.stickk.com/. It is fun too J

• Highly recommended: Need a break? Check this one out and learn about happiness
Jhttp://greatergood.berkeley.edu/

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 Syllabus
DATES & TOPIC CLASS CONTENT, REQUIRED READING & EVALUATION
Week 1 Review course syllabus and discuss what economics is in general.

Introduction1
Week 2 Chapter 1: economic issues, concepts, theories, data

Introduction2 Quiz 1 deadline

Week 3 Chapter 2: economic theories, data and graphs

What is economics? Quiz 2 deadline

Week 4 Chapter 3: demand, supply, and price

Demand and Supply Quiz 3 deadline

Week 5 Chapter 4: elasticity

Elasticity Quiz 4 deadline

Week 6 Fall semester break

Market Efficiency 1 Chapter 5: elasticity, price controls; market efficiency

Week 7 Chapter 5- Continued

Market Efficiency 2 Quiz 5 deadline

Week 8 Chapter 6 : consumer behaviour

Consumer Midterm Exam #1

Behaviour
Quiz 6 deadline
Week 9 Chapter 7: producers in the short run

Producers Behaviour Quiz 7 deadline

Week 10 Chapter 8: producers in the long run and competitive markets

Producers - long run Quiz 8 deadline

Week 11 Review/ Chapter 9 : competitive markets

Competitive Markets Midterm #2

Week 12 Chapter 9 : competitive markets

Monopoly Quiz 9 deadline

Week 13 Chapter 10: Monopoly and cartels;

Imperfect Quiz 10 deadline

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Competition
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Campus Support
A number of student support services exist on campus that one may wish to provide to students.
• The Academic Advising Centre (SN-4053) provides academic guidance to students in their first year
of study. Students seeking advice about a specific Major or Minor should contact the designated
undergraduate advisor in that department.
• The Commons (QEII library) provides access to print, electronic and technology resources.
• The Counselling Centre (UC-5000) helps students develop their personal capabilities, ranging from
study strategies to assisting distressed students.
• Student Affairs and Services (Answers, UC-3005) answers questions about such things as courses,
housing, books, financial matters and health.
• The Writing Centre (SN-2053) is a free, drop-in facility for students and helps them become better
writers and critical thinkers.
• The Glenn Roy Blundon Centre (UC -4007) serves students whose disabilities involve conditions
affecting mobility, vision, hearing, learning (disabilities), chronic illness, or mental health; support is
also provided to students with documented temporary illnesses and injuries.
• The Sexual Harassment Office serves all students, faculty and staff of all Memorial University
campuses and institutes. It is located in room ER6039 of the Alexander Murray Building (Earth
Sciences).

COVID-19 Supports

“General COVID-19 support: The Memorial COVID-19 website is an excellent source of information
and support, with specific links for students, supports and services, and health and wellness.

Vaccinations and Masks: COVID-19 vaccines are required for all students, faculty, and staff, and
masks are required in all indoor spaces on campus. Vaccination is open to those 12 or older in
Newfoundland and Labrador. Students can book a vaccination appointment on campus at Student
Wellness.

COVID Alert app: Memorial encourages faculty, staff, and students to download the COVID Alert
app to help protect yourself and others. The app is designed to let Canadians know whether they
may have been exposed to COVID-19.”

Health and Safety

“To protect yourself and those around you, it is important to stay home if you feel unwell, or if you
are in quarantine because you have potentially been exposed to the virus. Memorial University has
recognized the importance of academic leniency as we work to keep our campus safe for all: you will
not be penalized if you need to stay home to self-isolate. Doctors’ notes are not required for medical
absences in this course. Please keep me informed so we can work together to allow you to keep up
with course material and evaluations should you need to miss class.”
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Accommodation of Students with Special Needs
Memorial University is committed to facilitating and promoting an accessible, inclusive, and
mutually respectful learning environment. Students requiring special accommodation are asked
to communicate firstly with the Glenn Roy Blundon Centre (www.mun.ca/blundon) at the
earliest opportunity. University policies and procedures pertaining to accommodations for
students with disabilities can be found at www.mun.ca/policy/site/policy.php?id=239

Academic Honesty and Plagiarism

Within the University community there is a collective responsibility to maintain a high level of
scholarly integrity. A student is expected to adhere to those principles which constitute proper
academic conduct. Academic misconduct cannot be condoned or even appear to be condoned. A
student has the responsibility to know which actions, as described under Academic Offences,
could be construed as dishonest or improper
(http://www.mun.ca/regoff/calendar/sectionNo=REGS-0748).

Conduct of Examinations
For all examinations, students must be registered in the course; are permitted only to bring pens,
pencils and a non-programmable calculator; are not allowed to use communication devices; and
may not speak to each other.

Academic Advice
I would be happy to answer questions about this course and related matters. If you need
information about your program requirements and course selections, you might begin by
consulting the University Calendar (http://www.mun.ca/regoff/calendar/). I can also put you in
touch with an academic advisor.

Generally speaking, first year students (below 30 credit hours), undeclared students and those
transitioning between programs should contact the Academic Advising Centre
(https://www.mun.ca/advice/). Students who have declared a program in the Humanities and
Social Sciences, particularly those who have completed 30 to 60 credit hours and/or obtained a
degree audit report, should contact advisors in the Office of the Dean
(http://www.mun.ca/hss/services/advice/). Students who have completed 60+ credit hours should
contact the Office of the Registrar, including for a degree audit
(https://www.mun.ca/regoff/advising/). More complex matters involving a discipline’s Honours,
Major or Minor program are normally handled by a degree program’s Undergraduate Liaison or
department Head, whilst specific questions about a diploma or certificate program should be
directed to the Program Coordinator.

Navigate app for student success

Students are encourage to download the Navigate app to help support their success. The app can
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be found in the Apple app store or Google Play by searching “Navigate Student”. The app
provides timely university information, including dates and deadlines, allows students to book
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appointments with various advisors and support services across the university, and establish
study groups within courses using the Study Buddies feature. Please note that if you cannot
access the app, a desktop version is available by clicking here. If you have any questions about
the app, please contact [email protected]

Important Dates
For detailed information see: OFFICE OF THE REGISTRAR
September 8, 2021, Deadline for fees payment Fall semester
Wednesday Lectures begin, Fall semester

September 22, End of Regular Registration Period and last day for undergraduate and
2021, Wednesday graduate students to add courses, Fall semester
Last day for undergraduate students to drop courses and receive a 100%
refund of tuition fees, Fall semester

September 29, Last day for undergraduate students to drop courses and receive a 50%
2021, Wednesday refund of tuition fees, Fall semester

October 6, 2021, Last day for undergraduate students to drop courses and receive a 25%
Wednesday refund of tuition fees, Fall semester. No tuition fees are refunded for courses
dropped after this date.

October 11, 2021, Fall semester break begins at St. John’s and Grenfell Campuses
Monday Thanksgiving Day, no lectures

October 13, 2021, Lectures resume at St. John’s and Grenfell Campuses. Lectures will follow the
Wednesday Monday schedule on this day only.

November 3, 2021, Last day for undergraduate students and graduate students to drop courses
Wednesday without academic prejudice, Fall semester.

November 11, Remembrance Day holiday, no lectures.
2021, Thursday
December 3, 2021, Lectures end, Fall semester.
Friday
December 8, 2021, Examinations begin, Fall semester.
Wednesday
December 17, 2021, Examinations end, Fall semester.
Friday
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