Text:     Microeconomics: Private and Public Choice, 8th Edition, by Gwartney and Stroup

Recommended:   Study Guide (Coursebook) to accompany main textbook, by Studenmund
                          Wall Street Journal, Calculator, email account

Course Objective: To understand the principles and mechanics of how the economy operates at the microeconomic level. Emphasis will be placed on the economic way of thinking. Basic concepts in the economic organization of the microeconomy will be reviewed, including price theory, production theory, consumer theory, business structure, the labor market, current issues in economics (social security, flat tax, etc.) and the role of government. The emphasis of the class will be on practical applications of microeconomic principles so that students can understand basic policy issues as discussed by the media.

Grading Policy:   Letter grade assignments will be approximately as follows: A 85-100%, B 75-85%,
C 60-75%, D 50-60%, F 50% or less. Pluses and minuses will be given.

Grade Distribution:
                                   Midterm Exam I, Chapters 1-6                   25%
                                   Midterm Exam II, Chapters 7-11                25%
                                   Quizzes and attendance                              25%
                                **Final Examination, Chapters 13-15, 20-21  25%
                                    (*Tentative Chapters*)                             100%

Exams and Quizzes:  Examinations and quizzes will be multiple choice format. There will be 25 questions on each exam. Six 5-point surprise quizzes will be given randomly during the semester. The top five quiz scores will count toward your grade - your lowest quiz will be dropped. Many of the quiz questions will be taken from the web page. PLEASE BRING SCANTRON FORMS AND THE TEXTBOOK TO ALL CLASSES. I cannot give out any information in advance about when the quizzes will be given.

Web Site:  There is a web site under construction for this course at: http://spruce.flint.umich.edu/~mjperry, which contains the syllabus, lecture notes for some chapters, sample tests for all chapters, links to interesting web sites and an email link to my email address. I recommend that you make full use of this resource.

Extra Credit:  There will be extra credit problems on some quizzes and exams. No additional extra credit will be available. Regular attendance is required and will be taken at most class sessions. Attendance will affect your grade. There is no need to call or email when you are going to be absent. Final grades will be available by email request.