ECON 1900 - Principles of Economics                                                           Spring 2025

Instructor:  Bonnie Wilson, Associate Professor of Economics

Email:  bonnie.wilson@slu.edu 

Office:  DS 369b  

In-person office hours when classes are in session:

• Tuesdays 2:00 - 3:00; Thursdays 9:45 - 10:45

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

Syllabus

Materials and Assignments

• Introduction/Prologue on the Wonder of Markets

  • opening day(s) questions

  • emergent order questions; prepare for 01.16

  • practice problems; submission form; submitted during class on 01.23 

• Microeconomics

  • Decision-making

    • human behavior questions; prepare for 01.28

    • cost-benefit analysis questions; prepare for 01.30

    • practice problems; submission form; submit during class on 02.04 

  • Market model  - Basics

    • Pit experiment handout; read for 02.06

    • Building and using the model questions; prepare #1-8 for 02.11; add #9-10 for 02.13

    • practice problems; submission form; submit prior to class on 02.18 

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

• • Market model - Welfare

    • Welfare questions; prepare #1-2 for 02.25; add #3-10 for 02.27

    • practice problems; submission form; submit during class on 03.04

  • Market model - Elasticity

    • concepts and applications questions; prepare for 03.06 

    • practice problems; submission form; submit during class on 03.18

  • Market model application - Taxes

    • questions; prepare #1-10 for 03.20; add #11-13 for 03.25

    • Federal budget infographic

    • practice problems; submission form; submit during class on 03.25  

  • Market model application - Price controls

    • questions; prepare #1-4 for 03.37; add #5-13 for 04.01

    • practice problems; submission form; submit prior to class on 04.03

• Macroeconomics

  • GDP and growth

    • questions; prepare #1-4 for 04.03; add #5-7 for 04.22

    • practice problems; submission form; submit #1-8 during class on 04.08

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

[On GDP and growth - includes only discussion items #1-4]

• • Unemployment

    • questions; prepare for 04.24

    • practice problems; submission form; submit prior to class on 04.29

  • Inflation

    • questions; prepare for 04.29

    • practice problems; submission form

• Wrap-up

  • Overview

No class meeting on 05.01. [I will be away - at Mizzou - that day.]

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 04.30

  • Exam 1 histogram

  • Exam 2 histogram

Announcements

• Extra office hours in preparation for the final exam:

  • Monday, 05.05, 11:00 - 1:00

  • Tuesday, 05.06, 10:00 - 11:00; 1:00 - 2:00

  • Wednesday, 05.07, 2:00 - 3:30

  • Friday, 05.09, 10:00 - 12:00

  • Monday, 05.12, 10:00 - 12:00

• Extra and regular office hours in preparation for exam 2:

  • Tuesday, 04.08, 2:00 - 3:00

  • Wednesday, 04.09, 11:00 - 1:00, 2:00 - 3:00

• Extra and regular office hours in preparation for exam 1:

  • Monday, 02.17, 11:30 - 1:00

  • Tuesday, 02.18, 9:45 - 10:45, 2:00 - 3:00

  • Wednesday, 02.19, 1:00 - 3:00

Links

• Economic freedom of the world report

• 01.21 follow-ups:  Shkreli and the restricted distribution regulatory loophole; the case against patents; Is there a moral case for copyright and patent laws?  Storr and Storr (On perverse emergent orders); Why is insulin so expensive? AI as emergent order

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

• Vampire problem (decision-making that contrasts with cost-benefit analysis)

• Kennedy on GDP; nominal GDP; per capita; real GDP per capita; WDI GDP per capita; Horpedahl; median family income; 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

• 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)

Exam Dates

• In-class exam 1:  Thursday, February 20

• In-class exam 2:  Thursday, April 10

• Final exam:  Tuesday, May 13, 12:00 - 1:50 (day 5/5)