Answer Sheet for Exam 2

  1. C
  2. C
  3. C
  4. D
  5. A
  6. C
  7. A
  8. A
  9. B
  10. C
  11. B
  12. D
  13. E
  14. D
  15. C
  16. D
  17. C
  18. C
  19. D
  20. C
  21. C
  22. D
  23. D
  24. E
  25. B
  26. B
  27. D
  28. D
  29. D
  30. C


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Answer Sheet for Exam 1

  1. B
  2. A
  3. D
  4. D
  5. C
  6. A
  7. D
  8. B
  9. B
  10. D
  11. C
  12. B
  13. C
  14. C
  15. C
  16. C
  17. B
  18. A
  19. B
  20. A
  21. D
  22. A
  23. B
  24. B
  25. B
  26. D
  27. A
  28. B
  29. D
  30. B
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Homework starts this week!

We’re going to try something new this semester.  At least it’s new for me.  I would like you to purchase access to Sapling Learning‘s Principles of Micro course, customized for our class and designed to go along with our textbook.   For each chapter in our textbook, Sapling has a set of problems to give you practice working with the kinds of questions you will likely see on the exams in our class.  Recall that Homework & Class Participation will count 20% towards your final grade.  This is where most of the homework will come from.

The directions for getting access to Sapling’s course are here:  Tech-TA-Student-Instructions.pdf.  The price is $40, but I believe you have a couple weeks to play around with the site before you have to pay.  Let me know if you have any difficulties or questions!

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Syllabus Scavenger Hunt

Please email your answers to these questions by Friday night:

  1. Where is the powerpoint for Seven Principles of Microeconomics?
  2. Where is Dr. Greenlaw’s office and when are his office hours?
  3. What is the password for the readings tab?
  4. How many weeks into the semester is the first exam?
  5. What number will the “new” chapter be in our textbook?  (e.g. Chapter 57)
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Welcome to ECON 202, Principles of Microeconomics!

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Final Course Evaluation

I would very much appreciate if you could give me feedback on our course this semester.  Course evaluations are the primary way I can improve the course.  Could you please respond to the following questions using the “Send Greenlaw an Anonymous Message Link“?  Thanks very much!

  1. What most helped your learning in this course?
  2. What most hindered your learning?
  3. What did you think of the content in the text?  To what extent did it explain the material in a way you could understand?
  4. To what extent did you find the online version of the text useful?  Did you purchase a printed copy of the text?  Which did you use more and why?
  5. What did you think of the flyxx labs?  To what extent were the questions useful to you in learning the material and preparing for the exams?
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Mid-term Evaluation

This is a good time to think about your learning in this class.   Over the next few days, could you go to the anonymous comment form and answer the following questions:

  • How am I doing in this class?
  • What suggestions/concerns do you have for improving it?
  • What can I do to improve your learning in this class?

Your anonymous comment will be very much appreciated!

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Features of Good Scholarly Writing

This is a Writing Intensive course, which means that not only should you write but also you should receive some instruction in writing.  Here are the things I look for in good writing, whether a paper is 100 words or 100 pages:

1. Good Writing Should Be FOCUSED, not FUZZY;

i.e. It should have a point!
“Early” in the paper, the author should make clear to the reader exactly what the paper is about.

2. Good Writing Should Be ORGANIZED.

[ i.e. the paper should have a hierarchical structure in support of the thesis ]

By this, I mean more than just the formal structure of a paper:

i.e. Intro, Body, Conclusion

· What are the MAJOR POINTS that you want to make which lead logically to your conclusion (i.e. which prove your thesis)?

[ These are the principal pieces of evidence to support your argument ]

· What is the BEST ORDER of those points?

· Are there any WEAK or MISSING LINKS in the logic? (If so, FIX THEM!)

· Are there any SUPERFLUOUS POINTS (i.e. points which don’t lead to the conclusion?) (If so, OMIT THEM!)

Note: This organization becomes the outline for the “body” of the paper.

3. Good Writing Should Be SOLIDLY DEVELOPED

[ How? Use the same hierarchical structure at the paragraph level ]

Once the major points are determined, each of those points needs to be explained in detail, and supported by evidence!

4. Good Writing Should Be CLEAR, CONCISE, and PRECISE.

Clear writing indicates clear thinking. (Petr, 1998)

If a writer can’t say it clearly, they don’t fully understand the point.

5. Good Writing Should Be Free of GRAMMATICAL ERRORS.

IMHO, the three most egregious grammatical errors are:

(i) Subject ‑ Verb Agreement Problems

(ii) Sentence Fragments

(iii) Run‑On Sentences


What is the purpose of style and grammar (the mechanics of writing)? It’s not rules for rule’s sake, but simply to aid communication!

This is not “mere grammar”, but rhetoric and argumentation!

i.e. this is all about making your point in a convincing way.

I agree that “content” matters more than mechanics, but in practice, they are difficult to separate. Why? Because failure to write “well” inhibits communication of the content.

** The ultimate test of good writing is whether or not the reader is convinced of the thesis of the paper.

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Exam Week Office Hours

I will be in most of the day tomorrow (except for lunch) until 5pm.

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Outline for Material since the Second Exam

Income Distribution and Labor Markets:

  • What is income?
  • What does your income depend on?
  • What is financial capital?
  • What is a capitalist?
  • How does an active owner differ from a passive owner?
  • First Rule of Labor Markets
  • Firms demand labor because of the revenues that the firm can obtain by selling labor’s output (i.e. the marginal revenue product)
  • Firms hire labor as long as MRP > w (in a competitive labor market)
  • What is a perfectly competitive labor market? How does one work? [ Show and be able to use the model ]
  • What is monopsony? How does one work? [ Show and be able to use the model ]
  • What is a union
  • What is a bilateral monopoly?
  • What causes poverty?

Environmental Economics:

  • What is an externality? What’s a positive/negative externality?
  • Why does pollution represent a market failure? [ Show and be able to use the model ]
  • What is the socially optimal level of pollution?
  • Why do we have externalities?
  • What is the difference between restricted and unrestricted, common and private property?
  • Explain how regulation (quantity restrictions) and economic incentives (effluent charges or taxes) can reduce the amount of pollution.
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