HON 220  INTRODUCTION TO ECONOMIC THEORY AND POLICY (3+0) 3 credits

Survey of major macroeconomic and microeconomic theories, with emphasis on their application to individual. business and governmental decisions.

The full syllabus for this course is at <http://www.business.unr.edu/faculty/parker/hon220>.  If you don't have access to a web browser, now is the time to learn!

This is an introductory course in both microeconomics and macroeconomics, intended for students already accepted in the university honors program.  Microeconomics is the study of smaller units of the economy, such as firms and households, and is often is concerned with with issues such as competition, markets, prices, incomes, and efficiency. Macroeconomics is the study of the aggregate economy, and focuses on recessions and expansions in the national economy, unemployment, inflation, money creation and the role of banks, interest rates, aggregate investment, and growth.  Macroeconomics further attempts to predict the economic effects of government policies, particularly fiscal and monetary policies intended to affect the national economy.

Discussion of examples and policies will focus on the U.S. economy. No previous economic study is required, but a reasonable degree of comfort with algebra and geometry will be extremely helpful. This course meets the social science requirements of the core curriculum. You will be exposed to major questions concerning human and institutional behavior, and you will be encouraged to develop your skills in critical analysis, mathematics, and writing clarity.  Class discussion is encouraged.  Successful completion of HON 220 will meet the business college requirement of both EC 101 and EC 102.  Both theory and policy applications will be emphasized.

• Microeconomics, 3rd Edition, ISBN: 0-393-97518-5, by Joseph E. Stiglitz and Carl E. Walsh.
• The Economics of Public Issues, 12th Edition, ISBN 0-321-07915-9, by Roger eRoy Miller, Daniel K. Benjamin, and Douglass C. North.


Both books are available at the ASUN Bookstore in JTSU, or you can order them online.  Students are expected to regularly read a business publication such as the Wall Street Journal, Business Week, the Economist, Barrons, or Forbes to familiarize themselves with the business and policy relevance of microeconomics.  Online versions are available.

• Four section examinations, worth 10 percent each, which may be take-home or in-class, depending on the quality of your participation.
• Three reports, worth 5 percent each, which demonstrate the application of economic theory to social problems and the real world.
• Participation, worth 20 percent, which will include preparation, attendance, the questions you ask, the questions you answer, presentation of your three reports, and perhaps even some work at the blackboard.
• A comprehensive final exam, worth 25 percent, taken in class on Monday, December 16, from 9:45-11:45 AM.

Grading will be done according to a four point scale (4=A, 3=B, 2=C, 1=D, and 0=F).  At the end of the semester, your average will be converted back into a letter grade, based on the following ranges:

See the HON 220 course website.