ECO5114

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ECO5114-01 Applied Microeconomics I

Spring 2017

Dr. Katie Sherron

Class Time TR 11:00am – 12:15pm

Classroom BEL202

Office Location BEL284

Office Hours TR 2:15 – 3:15pm

T 5:15 – 6:00pm

or by appointment

Office Phone 850-644-7098

Email ksherron@fsu.edu

Course Description This course is part of a two-semester sequence intended to provide students a foundation

in the tools used by economists to study and evaluate economic issues. Throughout the

two courses emphasis is placed on practical application of economic theory to issues

commonly dealt with by economists working in both government and private industry.

The first course shall focus on the behavior of consumers while the second course will

emphasize decision making by firms. Students that successfully complete the two-course

sequence should be prepared to work as research analysts in federal and state government

or private industry.

Required Texts Cost-Benefit Analysis: Concepts and Practice, 4th Edition by Boardman, Greenberg,

Vining and Weimer

ISBN: 978-0-137-00269-6

Microeconomic Theory: Basic Principles and Extensions, 11th Edition by Nicholson and

Snyder

ISBN: 978-1-111-52553-8

Introductory Econometrics: A Modern Approach, 5th Edition by Wooldridge

ISBN: 978-1-111-53104-1

Evaluation Your class grade with be based on four homework assignments, a midterm and a final

exam. The grading scale below is an outline, but a curve may be applied to final course

grades if necessary. This is a graduate course, so it is unlikely that extra credit will be

offered.

Homework 50% 200 points

Midterm 25% 100 points

Final Exam 25% 100 points

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Points Percentage Class Grade

368 – 400 > 92% A

360 – 367 90 – 91.99% A-

348 – 359 87 – 89.99% B+

328 – 347 82 – 86.99% B

320 – 327 80 – 81.99% B-

308 – 319 77 – 79.99% C+

288 – 307 72 – 76.99% C

280 – 287 70 – 71.99% C-

240 – 279 60 – 69.99% D

239 or less F

Attendance

Class attendance is required. More than one unexcused absence will negatively impact

your grade in the class. Each unexcused absence beyond one will result in a reduction of

your grade by 10 points (2.5% in the course). Excused absences must be documented with

the Dean of Students as well as the instructor. Excused absences include documented

illness, deaths in the family and other documented crises, call to active military duty or jury

duty, religious holy days, and official University activities.

Exams

The exams will consist of essay and problem solving questions. The focus of the exams

will be on the material presented in lecture and the associated readings. Dates for the

midterm and final are given below. No make-up exams will be given for unexcused

absences.

Homework

You will have four homework assignments, each equally weighted. You will complete the

first two assignments individually and I will assign you to groups of three or four for the

last two assignments. A hard copy of your work is due at the beginning of class on the due

date. Homework submitted late or via email will not be accepted.

From Undergraduate to Graduate Student

Your Master’s courses will not be a continuation of your undergraduate studies. I expect

a lot more from you than I do from undergraduate students. Assigned textbook chapters

are to be read before class. You are to come to class prepared to ask questions. You need

to stay on task and be your own disciplinarian. I will not be looking over your shoulder.

Do not wait until the night before to study or complete homework projects. Procrastination

will result in disaster. If you plan ahead (about a week), I am happy to extend office hours

and work with you as much as you would like. However, I will not respond to last minute

requests or late night emails. Finally, the work that you submit to me should be of

professional quality. This means homework essay questions should be answered in

complete sentences and grammatical errors will count against your grade.

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ECO5114 Course Calendar

You are expected to complete the readings before coming to class. The calendar is

subject to changes which will be announced in class and posted on Blackboard.

As you can see, we will informally conclude this course by March 2. The class will meet

and cover ECO5114 material at 11:00am and 3:35pm from Jan 10 – March 2.

Date Tuesday Date Thursday

Jan 10 Nich Ch 2: Mathematics for

Microeconomics

Nich Ch 3: Preferences and

Utility

Jan 12 Nich Ch 3

Jan 17 Nich Ch 3

Nich Ch 4: Utility

Maximization and Choice

Jan 19 Hwk 1 Due 11:00am

Nich Ch 4

Jan 24 Nich Ch 5: Income and

Substitution Effects

Jan 26 Hwk 2 Due 11:00am

Nich Ch 5

Jan 31 Nich Ch 6: Demand

Relationships Among Goods

Feb 2 Midterm Exam

Feb 7 Stata Review

Dos and Don’ts of Regression

Interpretation

Feb 9 Wooldridge Ch 19: Carrying out

an Empirical Project

Woodridge Ch 6: Multiple

Regression Analysis, Further

Issues

Feb 14 Wooldridge Ch 9: More on

Specification and Data Issues

Woldridge Ch 16: Simultaneous

Equation Models

Feb 16 Hwk 3 Due 11:00am

Board Ch 13: Direct Estimation

of Demand Curves

Feb 21 Board Ch 14: Indirect

Estimation of Demand Curves

Feb 23 Hwk 4 Due 11:00am

Board Ch 15: Contingent

Valuation Methods

Feb 28 Board Ch 18: Cost Effective

Analysis

Mar 2 Final Exam

Mar 7 Mar 9

Mar 14 Spring Break Mar 16 Spring Break

Mar 21 Mar 23

Mar 28 Mar 30

April 4 April 6

Apr 11 Apr 13

Apr 18 Apr 20

Apr 25 Apr 27

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University Attendance Policy

Excused absences include documented illness, deaths in the family and other documented

crises, call to active military duty or jury duty, religious holy days, and official University

activities. These absences will be accommodated in a way that does not arbitrarily

penalize students who have a valid excuse. Consideration will also be given to students

whose dependent children experience serious illness.

Academic Honor Policy

The Florida State University Academic Honor Policy outlines the University’s

expectations for the integrity of students’ academic work, the procedures for resolving

alleged violations of those expectations, and the rights and responsibilities of students

and faculty members throughout the process. Students are responsible for reading the

Academic Honor Policy and for living up to their pledge to “. . . be honest and truthful

and . . . [to] strive for personal and institutional integrity at Florida State University.”

(Florida State University Academic Honor Policy, found

at http://fda.fsu.edu/Academics/Academic-Honor-Policy.)

Americans With Disabilities Act

Students with disabilities needing academic accommodation should:

(1) register with and provide documentation to the Student Disability Resource Center;

and

(2) bring a letter to the instructor indicating the need for accommodation and what type.

This should be done during the first week of class.

This syllabus and other class materials are available in alternative format upon request.

For more information about services available to FSU students with disabilities, contact

the:

Student Disability Resource Center

874 Traditions Way

108 Student Services Building

Florida State University

Tallahassee, FL 32306-4167

(850) 644-9566 (voice)

(850) 644-8504 (TDD)

sdrc@admin.fsu.edu

http://www.disabilitycenter.fsu.edu/

Syllabus Change Policy

Except for changes that substantially affect implementation of the evaluation (grading)

statement, this syllabus is a guide for the course and is subject to change with advance

notice.