rd
           Text: Principles of Microeconomics 3 /4th. edition    by N.Gregory Mankiw  
           CHAPTERS TO BE STUDIED:  Chs. 1, 2 (pp19-27), 3, 4, 5, 6, 7 (with additions from 10),   Ch. 13-17,  Ch 18. 
             
           COURSE DESCRIPTION:  This is an introductory course in microeconomics.  The course examines how 
           the market mechanism (supply and demand) works to allocate resources (labor, land, capital, 
           management) in a basically capitalistic economy such as the U.S. economy.  We begin with a perfectly 
           competitive marketplace and continue on to examine non-competitive markets (monopolistic 
           competition, oligopoly, and monopoly). The course concludes with a study of resource markets, with 
           emphasis on the labor market. 
              
                                                                               
           COURSE OBJECTIVES: The objective of the course is to give students an understanding of the workings 
           of the market mechanism within a capitalistic economy. 
               
                                                                               
           GENERAL COURSE INFORMATION:   There will be three scheduled in-class exams and a final 
           examination. All students are required to take these examinations at the scheduled times.  A makeup 
           exam will be administered ONLY if a student misses an exam for a very serious, well-documented 
           reason. 
             Problem sets will be assigned during class. 
           Each student must write one brief paper.  The paper will be based on a news article that is an 
           application or illustration of a microeconomic concept.  Your paper will discuss in detail the concept 
           referenced in the news article, drawing from our class discussions and the text.  The deadline for the 
           submission of this mandatory paper is one week before the last day of class. The referenced article 
           must be attached to the paper. 
            Regular class attendance is strongly recommended. Students may obtain extra credit through class 
           participation and through the completion of in-class problems and assignments. Extra credit may also 
           be obtained by submitting one additional paper, as described above for the mandatory paper.  The 
           deadline for submission of the extra credit paper is two weeks prior to the last day of class. 
           The instructor must be provided with print copies of all papers.  E-mailed papers will not be accepted.  
             
        [Prerequisites, attendance policies]  
          
                                                   
       TEXTS: Principles of Economics, N. Gregory Mankiw.  Parts 1-6. 
        [Enter required text books, software, supplies]  
          
          
                                                   
       GRADING POLICY: Each in-class exam is 21 % of the grade for the course, the final exam is 29% of the 
       grade for the course, and the paper is 8 % of the grade. The professor may place additional weight on 
       a particularly strong exam.    Students may write one additional paper for extra credit. Extra credit can 
       also be earned through class participation and problem sets.  Students who have a course average of 
       90% or higher, have completed all other course requirements, and write one extra paper may opt out 
       of the final exam.  
        [Enter grading criteria and policies]  
          
                                                   
       CONTACTING THE INSTRUCTOR: 
       Dr. Carol McDonough  
       Email: Carol_Mcdonough@uml.edu   
       Phone: x.2784      
       Office: Falmouth 302G        Office Hours: Tues and Thurs 1:00-2:30 PM and by appointment