Economics 101

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Fall 1998

by David K. Levine

All materials distributed in class, plus slides from the lectures and due dates will be available at this web site. For information about how to access the material on this site, click here. Changes in the course and other course news can be found here.

Discussion, announcements and news

Exam rules and tips

Information on accessing material from this site

Course schedule and slides from lectures

Contact information and office hours for the Professor and TAs

Print version of syllabus

Background Reading: Pure Exchange General Equilibrium; Production Theory

Links to UCLA course information

This is the first upper division microeconomics course for economics majors. It covers the basics tools required for upper division economics, and is relatively mathematical.

PREREQUISITES: You must have Economics 11 and Mathematics 31A, and 31B or 31E. We will make serious use of calculus. We will do differentiation, simple equation solving, and a limited amount of integration. It is crucial that you feel comfortable with these operations. If calculus is something you once knew but are now fuzzy on, you will find this course difficult.

TEXTS: We will use H.S. Bierman and L. Fernandez, Game Theory with Economic Applications, Addison-Wesley, ISBN 0-201-56298.

LECTURES AND SECTIONS: You are responsible for all material covered in lecture and section meetings as well as the required reading.

GRADING: You will be graded on four problem sets, a midterm exam and the final exam. Each problem set will count for 5% of your grade. The midterm exam will have three equally weighted questions, and counts 30% of your grade. It will be based directly on the problem sets. The midterm and problem sets are optional. The final exam is mandatory, and will cover the entire course, and have six equally weighted questions accounting for 50% of your grade. If you do better on the final than on either the midterm or the problem sets, it will replace the corresponding grade.

EXAMS: Dates of the exams, as well as due dates for the problem sets are given in the course schedule. The midterm is given in class. The final exam is mandatory; if you miss the midterm, the final will count in its place. If you have a time conflict involving another final exam, it is possible to take the final in the time slot immediately following the scheduled exam. Other make-up exams are possible only for good reason (medical or legal problems) and with written documentation. Otherwise, if you miss the exam you will either fail the class, or, with the approval of the academic dean, drop the class or withdraw from the quarter. There are no exceptions. I do not give incompletes, nor is it possible to make up a poor or non-existent exam grade by "doing an extra credit project."

PTEs: If you need a PTE or other special permission to take the class, please see me during my office hour; I will not give PTEs at any other time, including immediately before or after class. Bring any relevant documentation, such as transcripts, showing why you need a PTE.

MIRROR SITE: A backup web site with course material can be found at http://econweb.sscnet.ucla.edu/lev101/curqy/index.htm.

REGRADING: If your exam score has been tallied incorrectly, we will gladly correct it. Otherwise, if you feel your exam has been graded unfairly, you should bring it to me (and not to the TA) and submit the entire exam for regrading. If errors in your favor are discovered, you may receive a lower grade. I have no interest in the possibility that a few more points on a particular question might net you a higher grade in the class, but I am concerned that you are graded fairly. Please do not ask us what the cutoff is for the next highest grade.

EXAM EQUIPMENT: You must bring two large BLUEBOOKs to the midterm, and three to the final exam. Do not write your name in them: you will turn them in and they will be randomly distributed. Do all scratchwork in the bluebook. You must use pen. Do not remove pages or erase: simply put a line through errors or scratch work. Calculators are not allowed, rulers are OK. You must have a photo ID.

EXAMS TIPS: Several tips for getting the best  possible score on   exams.

• You must explain your answer: few points are awarded for correct answers without explanation.  An incorrect numerical answer together with a correct explanation will get most of the possible points.
• When you are asked for an equilibrium (Nash, subgame perfect) the correct answer is the strategies, and not the payoffs. For example, (5,4) are equilibrium payoffs; (L,R) are equilibrium strategies. If you are simply asked for an equilibrium this always means the equilibrium strategies: (L,R) would get full credit while (5,4) would only get partial credit.
• Do not consider the answer sheets to problem sets and past exams a guide to writing a good answer. These are just notes  to help you understand how to do the problem. A good answer must clearly communicate to the person  reading the exam how your reached the conclusion, and what conclusion your reached.  If you communicate poorly, you will not  get a high grade. Remember: all we see is what you write on the paper.
• Do not do your work on the exam sheet we distribute. You will get credit only for what is in the blue book.

AFTER THE QUARTER IS OVER: If you have questions about your grade, I offer office hours every quarter, so please try to see me then. If you cannot make my regular office hours, you can make an appointment by email to discuss your grade.