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Rose-Hulman Institute of Technology / Department of Humanities & Social Sciences / K. Christ |
SV151, Principles of Economics
This is a one-quarter social science survey course that introduces students to the subject matter and methods of economics. There are no formal prerequisites for this course. It is required for the economics major and minor, and is suitable as a "Society and Values" elective toward fulfillment of Rose-Hulman's general Humanities and Social Science requirements. Furthermore, this course is a prerequisite for almost all other economics courses offered at Rose-Hulman.
Click here for a syllabus: Winter Quarter, 2011 - 2012
| My contact information: | Office, Moench Hall 203d Telephone and Fax, 812-872-6226, 812-877-8909 Email: kevin.christ@rose-hulman.edu |
Economics blogs:
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Greg Mankiw's Blog: Random Observations for Students of Economics |
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The Economist: Free Exchange |
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Paul Krugman's Blog: The Conscience of a Liberal |
S c h e d u l e f o r W i n t e r Q u a r t e r 2 0 1 1 - 2 0 1 2
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Date |
Topic |
Readings |
Slides |
Homework |
| 28 Nov. |
Foundations 1: Principle #8 |
Mankiw, chapter 1 | Week 1 | |
| 29 Nov. |
Foundations 2: Principles #1, 2, 3, 4 |
Mankiw, chapter 2 (pages 21 - 28) | ||
| 1 Dec. |
Economics as a social science |
Mankiw, chapter 2 (pages 28 - end) "Take August Off" -- Illustrating different social science approaches |
HW1 | |
| 2 Dec. |
Interdependence and gains from trade |
Mankiw, chapter 3 | ||
| 5 Dec. |
Demand and supply |
Mankiw, chapter 4 (pages 65 - 76) | Week 2 | HW2 |
| 6 Dec. |
Equilibrium |
Mankiw, chapter 4 (pages 77 - end) | ||
| 8 Dec. | Price elasticity of demand | Mankiw, chapter 5 (pages 89 - 97) | HW3 | |
| 9 Dec. |
Other elasticities |
Mankiw, chapter 5 (pages 97 - end) | ||
| 12 Dec. |
Markets and government I: Price controls |
Mankiw, chapter 6 (pages 111 - 121) | Week 3 | HW4 |
| 13 Dec. |
Markets and government II: Taxes |
Mankiw, chapter 6 (pages 121 - end) | ||
| 15 Dec. |
Market efficiency |
Homework 5, Review | HW5 | |
| 16 Dec. |
Examination 1 |
Sample Exam 1 | ||
| 19 Dec. | Tools of welfare analysis; Application to taxes | Mankiw, chapters 7 and 8 | Week 4 | |
| 20 Dec. | Tools of welfare analysis; Application to trade & tariffs | Mankiw, chapters 7 and 9 | ||
| 5 Jan. | Political economy of international trade | Mankiw, chapter 9 | HW6 | |
| 6 Jan. | Externalities | Mankiw, chapter 10 | ||
| 9 Jan. | Public goods | Mankiw, chapter 11 | Week 5 | HW7 |
| 10 Jan. | Theory of production | Mankiw, chapter 12 (235 - 241) | ||
| 12 Jan. | Cost analysis | Mankiw, chapter 12 (241 to end) | HW8 | |
| 13 Jan. | Competitive markets | Mankiw, chapter 13 (255 - 265) | ||
| 16 Jan. | Competitive markets | Mankiw, chapter 13 (265 to end) | Week 6 | HW9 |
| 17 Jan. | Market power and public policy | Mankiw, chapter 14 (275 - 289) | ||
| 19 Jan. | Market power and public policy | Mankiw, chapter 14 (290 to end) | HW10 | |
| 20 Jan. | Examination 2 | Sample Exam 2 | ||
| 23 Jan. | Introduction to macroeconomics -- business cycles | Mankiw, chapter 23 (487 - 490) | Week 7 | |
| 24 Jan. | Aggregate output | Mankiw, chapter 15 | ||
| 26 Jan. | Prices, Inflation, Deflation | Mankiw, chapter 16 | HW11 | |
| 27 Jan. | Resource utilization and unemployment | Mankiw, chapter 20 | ||
| 30 Jan. | Long-run economic growth | Mankiw, chapter 17 | Week 8 | HW12 |
| 31 Jan. | Savings and investment | Mankiw, chapter 18 | ||
| 2 Feb. | Present value, discounting, and risk | Mankiw, chapter 19 (393 - 395) | ||
| 3 Feb. | NO CLASS | HW13 | ||
| 6 Feb. | Asset markets | Mankiw, chapter 19 (396 to end) | ||
| 7 Feb. | Managing risk | Mankiw, chapter 19 (396 to end) | HW14 | |
| 9 Feb. | Monetary systems | Mankiw, chapter 21 | Week 9 | |
| 10 Feb. | Examination 3 | Sample Exam 3 | ||
| 13 Feb. | Money and inflation | Mankiw, chapter 22 | ||
| 14 Feb. | Aggregate Demand and Aggregate Supply Model | Mankiw, chapter 23 (490 to end) | Week 10 | |
| 16 Feb. | Monetary Policy | Mankiw, chapter 24 (525 - 535) | ||
| 17 Feb. | Fiscal Policy | Mankiw, chapter 24 (535 to end) | HW15, Answers | |
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20 Feb. |
Final Examination |
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