BARUCH COLLEGE (Summer 2012) Course Title: Fundamentals of Microeconomics Course Number: ECO 9730 Name of Instructor: Taghi

Ramin, Ph.D. Department: Economics and Finance Phone: 646-312-3501 Office: 10-260B,VC.Hours: Thursdays: 4:25 - 5:25pm E-Mail: taghi_ramin@baruch.cuny.edu Course Description: Intensive examination of the theories of utility and demand, production theory, and Cost functions in the short and long run, culminating in the price-output models of perfect Competition and monopoly. Problems and applications are heavily used to acquaint Students with the implications of the theoretical concepts. Specific Course Objectives: This course is designed to introduce the student to the various concepts used in analyzing and studying economic events. More broadly, we show throughout this course how Microeconomics can help students understand how markets operate. You will learn: Why do prices change? How are prices determined in various markets? What is the significance of price changes? In addition, determination of wages, rents, and profits will be covered. We will occasionally use some simple Calculus to derive results and solve problems, but we will review all the necessary rules and definitions before we do so. Student Learning Outcomes A student who earns an A in this class, will be able to: -Describe the different costs of production and their economic meaning. -Use supply and demand analysis to examine various economic phenomena. -Discuss the differences between competitive, monopolistic, and Oligopoly markets. -Discuss the reasons for government intervention in the market. -Discuss the role of unions in a capitalist economy. -Critically read journalistic explanation of economic events. Required Text:

Microeconomics, 8/E.

Pindyck/ Rubinfeld, ISBN-10: 013285712X

ISBN-13: 9780132857123

Grading: 1). Midterm 40%; Monday, June 18, 2012. 2). Final exam 60%. Thursday, July 12, 2012. NOTE: There are no extra credit assignments. The grading scale is the official Baruch scale published in the course catalog. Please note: The final exam will be based on the entire classs lecture. The format of the exams will be multiple-choice questions. A number 2 pencil is required for all exams. Exams are taken without the aid of textbooks or of notes of any kind, and no collaboration is allowed on exams. You may use a calculator in the exams, but the use of a calculator on which you have stored any information relevant to the course constitutes a violation of the Academic Integrity Policy. Furthermore, every student must have his or her own calculator. Sharing calculators will not be allowed.

Makeup Policy: There will be no make-up exam for the midterm. If you miss the midterm exam with an excused absence (such as severe illness or the death of an immediate family member), the final exam will count 100% instead of 60%. If you miss the final exam due to an emergency, and if I approved in advance, an IN will be assigned for the course. The makeup final exam will be considerably more difficult because it will be a different exam, which I have to make especially for you, and it might not be a true representation of the work you have done in class. To help encourage the proper educational environment and out of courtesy for your fellow classmates, please turn of all cell phones and pagers prior to entering the classroom and be on time. No food in the classroom except for bottled water Academic Integrity: Students are expected to know and adhere to the Baruch College Academic Honesty Policy, found at http://www.baruch.cuny.edu/academic/academic_honesty.html. It states, inter alia, that Academic dishonesty is unacceptable and will not be tolerated. Cheating, forgery, plagiarism and collusion in dishonest acts undermine the college's educational mission and the students' personal and intellectual growth. Baruch students are expected to bear individual responsibility for their work, to learn the rules and definitions that underlie the practice of academic integrity, and to uphold its ideals. Ignorance of the rules is not an acceptable excuse for disobeying them. Any student who attempts to compromise or devalue the academic process will be sanctioned. Topics: Preliminaries: Ch. 1 The Basics of Demand & Supply: Ch. 2 The Theory of Consumer Behavior: Ch. 3 Individual and Market Demand. Ch. 4 Production: Ch.6 The Cost of Production: Ch. 7 Profit Maximization And Competitive Supply: Ch. 8 The Analysis of Competitive Markets: Ch. 9 Market Power: Monopoly and Monopsony: Ch. 10 Pricing with Market Power: Ch. 11 Monopolistic Competition and Oligopoly: 12 Markets for Factor Inputs: Ch.14 Market Failure and the Role of Government: Chs. 16,18. _________________________________________________________________ NOTE: SYLLABUS IS SUBJECT TO CHANGE BY INSTRUCTOR