University of Waterloo

Department of Economics
ECON 101: Introduction to Microeconomics (Section 001)
Spring 2019
Class Time: Tue, Thur 10:00 am-11:20 am
Classroom: STP 105
Instructor Information
Instructor: Predrag Rajsic
Office: HH 162
Office Phone: 519-888-4567 ext. 30174 (please do not leave voice mails)
Office Hours: Tue, Thur 1:00 pm – 2:30 pm or by appointment
Email: prajsic@uwaterloo.ca

Notes on office hours or contacting instructor

Office hours for the Final Exam Period will be announced in July.
If a student is not able to meet during office hours, I am open to arranging a mutually convenient
appointment via email.
When sending email to your instructor, always use your University of Waterloo email account. “ECON
101” must appear in the subject line and the message must include your full name and student ID
number.

Where to find this course outline:

This course outline is available at two locations for the duration of the term:
 Department of Economics website
https://uwaterloo.ca/economics/undergraduate/courses/outlines
 LEARN web site (requires UW user id and password) http://learn.uwaterloo.ca

Course Description
This course introduces students to basic microeconomic concepts essential for understanding
contemporary issues in the Canadian economy. The main topics that are covered include the behaviour
of individual consumers and producers, the formation and the functions of market prices, and the impact
of government policies on the operation of the market process. The course provides the essential
theoretical framework in microeconomics and will be used as a prerequisite for most economics classes
you may take in the future. We will learn how to apply an economic way of thinking to better understand
the choices of consumers and producers within the market process. The course considers a range of
different market structures, including markets with many, several or only one seller.

Course Goals and Learning Outcomes

The objectives of this course are for students to:
 understand the need for people to make choices and together work towards overcoming the
universal problem of scarcity;
 appreciate the relevance of economics in a changing world;

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  develop the capacity to apply critical thinking to economic issues.

Upon completion of this course, students should be able to:

 apply elements of microeconomic theory to understand how consumers and producers make
purposeful decisions;
 be familiar with different market structures, production and costs;
 analyze conceptual economic problems;
 decompose problems into their economic parts.

Textbook
 Parkin, Michael and Robin Bade (2018). Microeconomics: Canada in the Global Environment, 10 th
edition. Pearson Education Canada (with accompanying Study Guide and FexText). The textbook
is available from the UW BookStore.
 A copy of the textbook edition is on reserve at the Dana Porter Library.
 The use of MyEconLab tests is optional. You may use them as a practice tool, but they will not be
used for grading purposes.
Examinations in this course are based on the material contained in the assigned textbook readings and
presented as lecture content (which are strong complements, not substitutes—see Policy on Class
Attendance).

Notes from the BookStore

 The UW BookStore has the following editions of the same textbook package (buy only one):
o Option 1: PARKIN & BADE: MICROECONOMICS 10TH ED PKG W/ MYECONLAB AND
FLEXTEXT
SKU: 9780135285350

o Option 2: PARKIN & BADE (LOOSELEAF): MICROECONOMICS 10TH ED PKG (LOOSELEAF)

W/ 9TH ED STUDY GDE
SKU: 9780135285367

o Option 3: MICROECONOMICS - E-TEXT PKG W/ FLEXTEXT PLUS MYLAB ECONOMICS

PARKIN & BADE (E-TEXT PKG)
SKU: 9780135285374

Students who will be taking both ECON 101 and 102 (this term or in a subsequent term) may want to get
the combined “Economics: Canada in the Global Environment” which has both Microeconomics (ECON
101) and Macroeconomics (ECON 102). In that case, the UW BookStore also has the following edition of
the same text package:
o Option 4: ECONOMICS 9TH ED PKG W/ MYECONLAB AND MICRO AND MACRO FLEXTEXT
SKU: TX.9780134615813

In any case, buy only one of the options above. The textbook is packaged with a free access code to
MyEconLab (including e-textbook), and a free printed study guide. If you would like to purchase
MyEconLab separately (with or without the e-textbook), please contact the UW Book Store.

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Readings Available on LEARN
I will be posting the course lecture slides on LEARN before each class. The course lectures will closely
follow the course textbook in terms of content and progression – but not in terms of the style of
presentation. It is your responsibility to keep yourself current with the assigned textbook readings as
well as maintaining an understanding of the lecture content.
 Any additional course materials (news, updates, announcements) will be posted on the LEARN
web site http://learn.uwaterloo.ca
 Online Review Quizzes (see below under Review Quizzes)
 The LEARN site is down occasionally. Save the course materials to your computer as soon as they
are posted. Always be prepared!
 Students writing tests and exams are responsible to save course materials on LEARN before the
access to their courses is shut off (normally on the first day of classes of the next term).

Course Requirements and Assessment

The course grade will be based on review quizzes, two midterm exams, and a final examination which
will be held during the Official Examination Schedule. There will also be a bonus grade up to 2% for
participation. The breakdown is as follows:

Assessment Date of Evaluation (if known) Weighting

Review Quizzes TBA 5%
Midterm 1 June 6, in-class 20%
Midterm 2 July 4, in-class 25%
Bonus for participation1 2%
Final Exam TBA (August 2 - 16) 50%
Total 100%

Review Quizzes
 The purpose of the review quizzes is to help students identify and understand key concepts
covered in the lectures and in the textbook.
 The format of the quizzes will mainly be multiple-choice questions, but there may also be some
true-false questions, or short answer questions.
 The quizzes will be done online through the LEARN system.
 There will be a limited, but a reasonably long, time window set up in LEARN during which each
quiz will be available for completion. There are two attempts for each quiz available and the
better attempt counts.
 Quizzes that are not submitted on time will automatically receive a grade of zero.

Participation
Participation is recommended, and it will be rewarded through bonus marks up to the total of two
percentage points (2%) that will be added to the students’ final grade. Participation will be monitored
through an online tool Learning Catalytics. The primary purpose of this tool in this class is to enhance the
feedback mechanism between students and the instructor so that we can identify areas that may require

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If a student’s Total grade, including participation, is more than 100%, the participation grade is applied up to the
value that produces the Total grade of 100%. Otherwise, the full participation grade is applied.

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special focus. You will be able to submit answers to in-class questions using Apple or Android
smartphones and tablets, laptops, or through text message. Your participation grade will not depend on
the correctness of your answers to the in-class questions.

Learning Catalytics

We will be using the Learning Catalytics classroom response system in class. Included with the purchase
of a new text is a subscription to Learning Catalytics (through MyEconLab), which is a web based student
response system - please bring a smart device (laptop, tablet, or smart phone) or a text-capable cell
phone to class.

If you do not have a new text or code to MyEconLab, codes can be purchased separately through the
bookstore as it is the cheapest option - $17.25 CND for 12 months.
Through the Learning Catalytics website the cost is $12 USD (6 months) or $20 USD (12 months).
To resister please visit www.LearningCatalytics.com.

Please reference the step-by-step login document for detailed instructions. Under the Training & Support
tab, you will find helpful information including technical support.

Please email the Rep Kyle if you need anything at all - kyle.monotiuk@pearsoned.com.

Midterms and Final Exam

The format for all three midterms and the final exam will be multiple-choice questions.

 The midterm test will be written during the class time.

 Midterm marks will be posted on LEARN.
 The final exam period for the Spring term 2019 is August 2 – 16 inclusive. Students are
expected to be available during this time. Travel plans are not acceptable grounds for granting
an alternative final examination time. http://uwaterloo.ca/registrar/final-
examinations/examination-regulations-and-related-matters
 The exact date and time for the final exam for this class will be determined by the Registrar’s
Office. The exam schedule is posted online, will be announced in class, and posted on LEARN.
 Only the Registrar’s Office can issue final grades.

This grading scheme will be implemented strictly for all students in the course (with the exception of
verified illnesses – see below).

Missing a Midterm Due to Illness During the Term

 Missing a midterm will automatically result in a grade of zero for that midterm. If the illness
can be documented with a UW Verification of Illness Form (the only acceptable document),
with approval you may transfer the weight of the missed midterm to the final exam. This
remedy is a privilege and not a right.
 The midterm exam schedule has been set and will not be changed for whatever reason (no
make-up midterm exams will be offered).

Missing the Final Exam Due to Illness

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  Missing the final exam is a very serious matter which automatically results in a grade of zero
for the final exam and possibly a failing grade for the course. Please carefully read the
Economics Department policy on deferred final exams for instructions.
 No deferred final exam will be provided for students who missed all the exams (including the
final exam) in this course.

Submission of Exam Papers

 Late submission of exam papers is not accepted and missed submissions will receive a zero
mark for whatever reason.
 Exam papers must be submitted in whole and on time in the exam room. Exam paper
a) not submitted on time,
b) submitted with missing pages,
c) submitted elsewhere, with the exception of students with permission to write in the
AS Office,
d) not received at all
will receive a grade of zero for whatever reason.
 It is the responsibility of students to ensure that they write exams in the location, date, and time
assigned to their section. Students writing exams in the wrong section will be assessed a 20%
penalty on the final exam grade. There will be no accommodation for possible differences in
exam material or content.

Economics Department Deferred Final Exam Policy

 Deferred Final Exam Policy found at https://uwaterloo.ca/economics/current-
undergraduates/policies-and-resources/deferred-final-exam-policy .

Course Outline
This class schedule is ambitious. Modifications and/or eliminations of certain content might be required
given our limited time together. Any necessary modifications or eliminations to the course content will
be communicated to you in the regular class period.

Week Date Theme and Topic Readings Due

1 May 7, 9 Introduction to Economics: Chapter 1
Introductory Lecture - What is Economics?
2 May 14, 16 Introduction to Economics: Chapter 1
The Economic Problem Chapter 2
3 May 21, 23 The Price System: Chapter 3
Demand and Supply
4 May 28, 30 The Price System: Chapter 3
Demand and Supply
Elasticity Chapter 4
5 June 4, 6 The Price System: Chapter 4
Elasticity Chapter 8
Consumer Behaviour:

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Week Date Theme and Topic Readings Due
Utility and Demand
MIDTERM 1 (June 6)
6 June 11, 13 Consumer Behaviour: Chapter 8
Utility and Demand Chapter 9
Consumer Behaviour:
Possibilities, Preferences and Choices
7 June 18, 20 Consumer Behaviour: Chapter 9
Possibilities, Preferences and Choices Chapter 10
Producer Behaviour:
Organizing Production
8 June 25, 27 Producer Behaviour: Chapter 11
Output and Costs
9 July2 4 Producer Behaviour: Chapter 11
Output and Costs Chapter 12
Market Structures:
Perfect Competition
MIDTERM 2 (July 4)
10 July 9, 11 Market Structures: Chapter 12
Perfect Competition Chapter 13
Market Structures:
Monopoly
11 July, 16, 18 Market Structures: Chapter 13
Monopolistic Competition Chapter 14

12 July 23, 25 Market Structures: Chapter 15

Oligopoly Chapter 6
Policy Analysis:
Government Actions in Markets
13 July 30 Policy Analysis: Chapter 6
Government Actions in Markets
Final exam Review and Reflections on the
Learning Experience

Tentative Schedule of Review Quizzes

o Quiz 1: Released May 14, due May 21. Coverage: Ch 1, Ch 2
o Quiz 2: Released May 21, due June 6. Coverage Ch 3, Ch 4
o Quiz 3: Released June 6 due June 20. Coverage: Ch 8, Ch 9
o Quiz 4: Released June 20, due July 4. Coverage: Ch 10, Ch 11
o Quiz 5: Released July 4, due July 18. Coverage: Ch 12, Ch 13
o Quiz 6: Released July 18, due July 30. Coverage: Ch 14, Ch 15
 Any changes to this schedule and any other relevant information will be announced in class and
posted in the LEARN News section.

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The loss of a Monday class on July 1 will be made up by following a Monday schedule on July 2. The loss of a
Tuesday class on July 2 will be made up by following a Tuesday schedule on July 30.

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 Late Work
See above under Review Quizzes, Midterms and Final Exam, Missing the Final Exam Due to Illness, and
Submission of Exam Papers.

Electronic Device Policy

 Laptop computers or other electronic devices (i.e., Apple or Android smartphones and tablets)
may only be used to view lecture material or to access the Learning Catalytics page for this
course.
 Photographic devices are not permitted in class due to copyright and privacy issues.
 Audio or video recording devices are not permitted in class due to copyright and privacy
issues.

Attendance Policy
Class attendance is an integral part of your educational experience. It is an important factor in ensuring
your complete understanding of the material presented. You are responsible for all material presented in
the scheduled lecture periods whether you choose to attend lectures or not.

 I do NOT lend my lecture notes to students for any reason.

 In order to maintain a productive learning environment in the classroom, we all need to show
the highest level of courtesy and professional behaviour. In particular, please be punctual and
turn off all audible ringers on all devices during class.

 As a courtesy to the custodial staff, if you have coffee, water, etc., please dispose of your garbage
when you leave the classroom.

 Please leave your private conversations for after the class.

Economics Department Deferred Final Exam Policy

Deferred Final Exam Policy found at https://uwaterloo.ca/economics/current-undergraduates/policies-
and-resources/deferred-final-exam-policy.

Mental Health Support

All of us need a support system. The faculty and staff in Arts encourage students to seek out mental
health supports if they are needed.

On Campus
 Counselling Services: counselling.services@uwaterloo.ca / 519-888-4567 xt 32655
 MATES: one-to-one peer support program offered by Federation of Students (FEDS) and
Counselling Services
 Health Services Emergency service: located across the creek form Student Life Centre

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Off campus, 24/7
 Good2Talk: Free confidential help line for post-secondary students. Phone: 1-866-925-5454
 Grand River Hospital: Emergency care for mental health crisis. Phone: 519-749-433 ext. 6880
 Here 24/7: Mental Health and Crisis Service Team. Phone: 1-844-437-3247
 OK2BME: set of support services for lesbian, gay, bisexual, transgender or questioning teens in
Waterloo. Phone: 519-884-0000 extension 213

Institutional-required statements for undergraduate course outlines approved by

Senate Undergraduate Council, April 14, 2009

Academic Integrity
In order to maintain a culture of academic integrity, members of the University of
Waterloo community are expected to promote honesty, trust, fairness, respect and responsibility. See
the UWaterloo Academic Integritity webpage and the Arts Academic Integrity webpage for more
information.

Discipline
A student is expected to know what constitutes academic integrity, to avoid committing academic
offences, and to take responsibility for his/her actions. A student who is unsure whether an action
constitutes an offence, or who needs help in learning how to avoid offences (e.g., plagiarism, cheating)
or about “rules” for group work/collaboration should seek guidance from the course professor, academic
advisor, or the Undergraduate Associate Dean. When misconduct has been found to have occurred,
disciplinary penalties will be imposed under Policy 71 – Student Discipline. For information on categories
of offenses and types of penalties, students should refer to Policy 71 - Student Discipline. For typical
penalties check Guidelines for the Assessment of Penalties (https://uwaterloo.ca/secretariat-general-
counsel/policies-procedures-guidelines/guidelines/guidelines-assessment-penalties).

Grievance
A student who believes that a decision affecting some aspect of his/her university life has been unfair or
unreasonable may have grounds for initiating a grievance. Read Policy 70 - Student Petitions and
Grievances, Section 4 (https://uwaterloo.ca/secretariat-general-counsel/policies-procedures-
guidelines/policy-70). When in doubt, please be certain to contact the department’s administrative
assistant who will provide further assistance.

Appeals
A decision made or penalty imposed under Policy 70, Student Petitions and Grievances (other than a
petition) or Policy 71, Student Discipline may be appealed if there is a ground. A student who believes
he/she has a ground for an appeal should refer to Policy 72, Student Appeals
(https://uwaterloo.ca/secretariat-general-counsel/policies-procedures-guidelines/policy-72).

Note for Students with Disabilities

The AccessAbility Services office, located on the first floor of the Needles Hall extension (NH 1401),
collaborates with all academic departments to arrange appropriate accommodations for students with
disabilities without compromising the academic integrity of the curriculum. If you require academic

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accommodations to lessen the impact of your disability, please register with the AS office at the
beginning of each academic term.

If Using Turnitin in your Course

Turnitin.com: Text matching software (Turnitin®) will be used to screen assignments in this course. This is
being done to verify that use of all material and sources in assignments is documented. Students will be
given an option if they do not want to have their assignment screened by Turnitin®. In the first week of
the term, details will be provided about arrangements and alternatives for the use of Turnitin® in this
course.

Note: students must be given a reasonable option if they do not want to have their assignment screened
by Turnitin ®. See guidelines for instructors for more information.

Faculty of Arts-required statements for undergraduate course outlines

Cross-listed Course (if applicable)

Please note that a cross-listed course will count in all respective averages no matter under which rubric it
has been taken. For example, a PHIL/PSCI cross-list will count in a Philosophy major average, even if the
course was taken under the Political Science rubric.