ECON 1900 - Principles of Economics                                                           Spring 2024

Instructor:  Bonnie Wilson, Associate Professor of Economics

Email:  bonnie.wilson@slu.edu 

Office:  DS 369b  

In-person office hours when classes are in session:

• Wednesdays, 12:00 - 1:00, except the first Wednesday of the month (02.07, 03.06, 04.03, 05.01)

• Fridays, 12:00 - 1:00 

Virtual office hours:   Make an appointment in advance here; Zoom link

Syllabus

Materials and Assignments

• Introduction

  • opening day(s) questions; prepare for 01.19

  • emergent order questions; prepare #1-4 for 01.22; add #5-6 for 01.24

  • practice problems; submission form; submit prior to class on 01.29 

• Microeconomics

  • Decision-making

    • human behavior questions; prepare #1-2 for 01.29; add #3 for 01.31

    • cost-benefit analysis questions; prepare #1 for 01.31; add #2-3 for 02.05 

    • practice problems; submission form; submitted during class on 02.07 

  • Market model  - Basics

    • Pit experiment handout; read for 02.12

    • Building and using the model questions; prepare #1-8 for 02.14; add #9-10 for 02.16

    • practice problems; submission form; submit prior to class 02.19 

~~~~~~~~~~ Exam 1 material cut-off ~~~~~~~~~~

• • Market model - Welfare

    • Welfare questions; prepare #1-4 for 02.26; add #5-10 for 02.28

    • practice problems; submission form; submit prior to class on 03.04

  • Market model - Elasticity

    • concepts and applications questions; prepare #1-4 for 03.04; add #5-13 for 03.06; add #14-15 for 03.08

    • practice problems; submission form; submit prior to class on 03.18

  • Market model application - Taxes

    • questions; prepare #1-3 for 03.18; add #4-7 for 03.20; add #8-13 for 03.22

    • practice problems; submission form(1), form(2); submitted during class on 03.25

  • Market model application - Price controls

    • questions; prepare #1-2 for 03.27; add #3-6 for 04.03; add #5-9 for 04.05

    • practice problems; submission form; submitted in class on 04.08

• Macroeconomics

  • GDP and growth

    • questions; prepare #1-5 for 04.10; add #7 for 04.12

    • practice problems; submission form; submit during class on 04.15

~~~~~~~~~~ Exam 2 material cut-off ~~~~~~~~~~

• • Unemployment

    • questions; prepare #1-7 for 04.24; add #8-11 for 04.26

    • practice problems; submission form; submitted in class on 05.01

  • Inflation

    • questions; prepare #1-4 for 05.01; add #5-9 for 05.03

    • practice problems; submission form; submit during class on 05.03

• Wrap-up

  • questions; prepare for 05.06

  • overview

Spreadsheet

• •  As I record scores, I will post updated versions of the course spreadsheet.  Scores are listed the by last four digits of your ID and sorted numerically.  If you have questions or concerns, and especially if you spot any recording errors, please let me know.

  • Spreadsheet; updated 05.04

  • Exam 1 histogram

  • Exam 2 histogram

  • Final exam and semester totals histogram

Announcements

• Regular and extra in-person office hours in preparation for exam 1:

  • Tuesday, 02.20, 10:00 - 1:00

  • Wednesday, 02.21, 12:00 - 1:00

  • Thursday, 02.22, 10:00 - 1:00

• Regular and extra in-person office hours in preparation for exam 2:

  • Tuesday, 04.16, 10:00 - 12:00

  • Wednesday, 04.17, 12:00 - 2:00

  • Thursday, 04.18, 10:00 - 1:00

• Extra in-person office hours in preparation for the final exam:

  • Monday, 05.06, 12:00 - 2:00

  • Tuesday, 05.07, 1:00 - 3:00

Links

• Why do we exchange things?  Michael Munger (Learn Liberty video) [01.19]

• Ideas, progress, and economic growth.  Lynne Kiesling (substack post) [01.22]

• Nations don't get rich by plundering other nations.  Noah Smith (substack post) [01.22]

• Perverse emergent order.  Nona Martin and Virgil Storr [01.24]

• Knowledge's Limits and a Nobel Economist's Humility.  Samuel Gregg [01.24]

• Chesterton Fence

• Unintended consequences: texting bans; ban the box; Should football players wear helmets?; beating the system; CON laws and covid; Aumann's mother; great moments in unintended consequences  [01.29, 01.31]

• Home ownership rates; generational wealth per capita; taxes on sugary drinks [01.31 follow-up]

• Utilitarianism; Vampire problem [02.05]

• EconTalk episode with John List (thinking on the margin)

• An oil market shortage?

• CBO - immigration and growth

• subsidizing student loans

• Who pays the corporate income tax?

• Federal tax rates and brackets

• CBO budget infographic

• US tax code 

• Price controls:  inefficient resource allocation; price gouging

• Kennedy on GDP; nominal GDP; per capita; real GDP per capita; WDI GDP per capita; Horpedahl; Creating an economy of inclusion

• Unemployment: nonfarm employees; hires and separations; rate; duration; U3 and U6; by race; by education; labor force participation rate 

• NBER business cycle dating

• CPI FAQs; Some monetary facts

Old Exams

• Spring 2024:  exam I (multiple choice solutions); exam II (multiple choice solutions)

• Fall 2023: exam I (multiple choice solutions); exam II (multiple choice solutions)

• Spring 2023:  exam I (multiple choice solutions); exam II (multiple choice solutions) [not germane:  23-25, 33-35]

Exam Dates

• In-class exam 1:  Friday, February 23

• In-class exam 2:  Friday, April 19

• Final exam:  Wednesday, May 8, 12:00 - 1:50 pm