SubjectsSubjects(version: 867)
Course, academic year 2019/2020
  
Principles of Economics I - JEB101
Title: Principles of Economics I
Guaranteed by: Institute of Economic Studies (23-IES)
Faculty: Faculty of Social Sciences
Actual: from 2019
Semester: winter
Points: 6
E-Credits: 6
Examination process: winter s.:
Hours per week, examination: winter s.:2/2 Ex [hours/week]
Capacity: 177 / 274 (177)
Min. number of students: unlimited
State of the course: taught
Language: English
Teaching methods: full-time
Additional information: http://ies.fsv.cuni.cz/en/syllab/JEB101
Note: course can be enrolled in outside the study plan
enabled for web enrollment
priority enrollment if the course is part of the study plan
Guarantor: doc. Petr Janský, M.Sc., Ph.D.
Teacher(s): Shahriyar Aliyev
Sarah Godar, M.A.
doc. Petr Janský, M.Sc., Ph.D.
Natalia Li, M.Sc.
Mgr. Tereza Palanská
Mgr. Marek Šedivý
Incompatibility : JEB003, JPB362
Interchangeability : JEB003
N//Is incompatible with: JEM163, JEB003, JPB362, JEB998
Z//Is interchangeable with: JEB003, JEM163
XP//In complex pre-requisite: JEB102
Files Comments Added by
download 190904_Syllabus_Principles_of_Economics.pdf Syllabus doc. Petr Janský, M.Sc., Ph.D.
Annotation -
Last update: doc. Petr Janský, M.Sc., Ph.D. (13.11.2019)
This course introduces economic thinking and basic principles of microeconomics to both economics and non-economics students.
Literature -
Last update: doc. Petr Janský, M.Sc., Ph.D. (13.11.2019)

Readings

The course follows the material that is present in almost identical form in either of the following two textbooks: Mankiw, N.G., Taylor, M.P.: Economics (the chapter numbers in the weekly schedule below relate to this textbook’s 3rd version) or Mankiw, N.G..: Principles of Economics. In addition to attending lectures and seminars, students are encouraged to read one of these textbooks. There are a number of copies of these textbooks available in the IES library (and some in the CERGE-EI library). The supporting web pages of this course include the webpage of the textbook, which has useful student hand-outs and other student resources. Also, there is a Czech-English dictionary specially designed for you by one graduate of the Principles course, Michal Spišiak. It includes a translation of every key word from the Principles textbook and you can access it at http://dictionary.fsv.cuni.cz.

Please note that a number of other introductory economics texts provide almost equivalent service to the student as the above listed textbooks. Especially, please consider visiting the webpage of CORE with an excellent free online textbook.

Requirements to the exam -
Last update: doc. Petr Janský, M.Sc., Ph.D. (23.09.2019)

Requirements and assessment

Students attend lectures and seminars, which are organised for their benefit. Students are thus encouraged to provide feedback during the semester so that teaching in ongoing seminars and lectures can be improved. The exams are aimed at testing the knowledge and abilities learnt during the lectures, guest lectures, seminars, and from the textbooks. Experience shows that there is a strong positive correlation between attendance at lectures and seminars and good results in exams.

Students can choose between two main alternatives for final examination. Students can decide either to sit in for an exam at the end of the semester (100 % of the grade) or to combine the exam (70 %) with assignments mainly in an online MindTap system during the semester (30 %). The exam is a test that includes various questions such as problem sets and multiple choices (for which students can prepare at seminars). To pass the course, students are required to score at least 50 % from the exam. MindTap assignments are submitted on a weekly basis (more on MindTap and how to purchase it is at the end of this syllabus). In case MindTap would worsen the grade, only the exam’s result is taken into account. For both MindTap and the exam, the grading follows this simple rule: the total number of points received is divided by the maximum number of points that could have been received.

IEPS students share the lectures with other students, but they should primarily attend the fourth seminar on Wednesday and they have an additional requirement in the form of an essay. Therefore, IEPS students choose between the exam (75 %) or a combination of the exam (50 %) and MindTap results (25 %). In addition, their requirements include an essay (25 %).

Additionally, it is possible for the instructors to award extra points for extraordinary activity of students during seminars (a maximum of 0.5 percentage point per session and 5 percentage points during the whole course) that count as percentage points towards the grade in addition to those outlined above. Furthermore, if students agree with the seminar tutor, they can prepare a presentation for up to 5 extra points.

The grading follows these rules. Students’ total values correspond to the grades A-F according to the following schedule of intervals: A: [100-90); B: [90-80); C: [80-70); D: [70-60); E: [60-50); F (Fail): 50 and less.

Syllabus -
Last update: Natalia Li, M.Sc. (04.11.2019)

Principles of Economics I

Winter Semester 2019-20, Charles University,

This course introduces economic thinking and basic principles of microeconomics to both economics and non-economics students.

Principles of Economics I (JEB101) is an introductory course of economics with lectures and seminars for students of Bachelor of Economics (mandatory, as an alternative to Economics I), Bachelor of Economics and Finance (as a mandatory course), Politics, Philosophy and Economics (PPE, as a compulsory course), International Economic and Political Studies (IEPS, compulsory as Principles of Microeconomics, JEM163), and students of any other degree at Charles University with an interest in economics.

Please sign up for the course and select one of the seminars in the Student Information System (SIS). The course begins with the first lecture on Tuesday 1 st October at 2 pm in room no. 109, while the first seminars are taking place later that week. The location of all lecture and seminar rooms is the Institute of Economic Studies, Faculty of Social Sciences at Opletalova 26, Prague.

Lectures and seminars

 

Day

Time

Room

Lecture

Tuesday

14: 00-15: 20

109

Seminar 1

Tuesday

15: 30-16: 50

109

Seminar 2

Tuesday

18: 30-19: 50

105

Seminar 3

Wednesday

15: 30-16: 50

206

Seminar 4 (including IEPS students)

Wednesday

17: 00-18: 20

206

Seminar 5 (Including P PE students)

Wednesday

18: 30-19: 50

206

The lectures, students learn about the basic principles of economics in the way that prepares them for further study of economics as well as their future professional careers. In addition, guest lecturers from research, business and other sectors are occasionally invited to contribute to the lectures and thus enrich the course. The main lecturer of the course is Petr Janský ( web , email ).

During seminars, students use knowledge gained during lectures and from reading textbooks in class discussions, problem sets, games and exercises and thus deepen their understanding of economics. Students sing up for one of the five seminars that attend the semester with the fourth seminar being for IEPS students in particular and the fifth seminar being for PPE students in particular. In each week, all five seminars are taught by one of the seminar tutors.

There are five teaching assistants for this course: Shahriyar Aliyev ( email , web ), Sarah Godar ( email , web ), Natalia Li ( email , web), Tereza Palanská ( email , web ), and Marek Šedivý ( email , web).

Sarah Godar is responsible for MindTap online assignments. Marek Šedivý is the main organizer of the final exams, with which other instructors will help out. Natalia Li is responsible for grading the essays of IEPS students. Tereza Palanská is coordinating seminars. Please do not hesitate to contact them in the case you have questions related to these issues emails).

Requirements and assessment

Students attend lectures and seminars that are organized for their benefit. Students are thus encouraged to provide feedback during the semester so that teaching in ongoing seminars and lectures can be improved. The exams are aimed at testing the knowledge and abilities to learn during lectures, guest lectures, seminars, and from the textbooks. Experience shows that there is a strong positive correlation between attendance at lectures and seminars and good results in exams.

Students can choose between two main alternatives for the final examination. Students can choose either to sit for an exam at the end of the semester (100% of the grade) or to combine the exam (70%) with assignments mainly in the online MindTap system during the semester (30%). The exam is a test that includes various questions such as problem sets and multiple choices (for which students can prepare at seminars). To pass the course, students are required to score at least 50% of the exam. MindTap assignments are submitted on a weekly basis (more on MindTap and how to purchase it at the end of this syllabus). In the case MindTap would be worsen the grade, only the exam's result is taken into account. For both MindTap and the exam, the grading follows this simple rule: the total number of points received is divided by the maximum number of points that could be received.

IEPS students share lectures with other students, but they should primarily attend the fourth seminar on Wednesday and have an additional requirement in the form of an essay. Therefore, IEPS students choose between the exam (75%) or a combination of the exam (50%) and MindTap results (25%). In addition, their requirements include an essay (25%).

In addition, it is possible for instructors to award extra points for extraordinary activity of students during seminars (a maximum of 0.5 percentage points per session and 5 percentage points during the whole course) that count as percentage points towards the grade in addition to those outlined above. Furthermore, if students agree with a seminar tutor, they can prepare a presentation for up to 5 extra points.

The grading follows these rules. Students' total values corresponding to AF grades according to the following schedule of intervals: A: [100-90); B: [90-80]; C: [80-70]; D: [70-60]; E: [60-50]; F (Fail): 50 and less.

Readings

The course follows the material that is present in almost identical form in either of the following two textbooks: Mankiw, NG, Taylor, MP: Economics (the chapter numbers in the weekly schedule below relate to this textbook's 3 rd version) or Mankiw, NG .: Principles of Economics. In addition to attending lectures and seminars, students are encouraged to read one of these textbooks. There are a number of copies of these textbooks available in the IES library (and some in the CERGE-EI library). The supporting web pages of this course include webpage of the textbookthat has useful student hand-outs and other student resources. Also, there is a Czech-English dictionary specially designed for you to graduate from the Principles course, Michal Spišiak. It includes a translation of every key word from the Principles textbook and you can access it at http://dictionary.fsv.cuni.cz .

Please note that a number of other introductory economics texts provide almost equivalent service to the student as listed above. Especially, please consider visiting CORE with an excellent free online textbook.

Weekly schedule

Week

Lecture (202 9 )

Themes

Book chapters

Tutor

1

1 Wed October

Ten Principles of Economics; Thinking Like an Economist

1 + 2

Tereza

2

8 th October

The Market Forces of Supply and Demand; Elasticity and Its Application; Supply, Demand and Government Policies

4 + 5 + 6

Tereza

3

15 th October

Consumers, Producers, and the Efficiency of Markets; The Costs of Taxation; The design of the tax system

7 + 8 + 12

Tereza

4

22 nd October

Interdependence and the Gains from Trade; International Trade

3 + 9

Marek

5

29 th October

cancelled - Dean's holiday

 

 

6

th November

Theory of Consumer Choice.

Externalities; Public Goods and Common Resources

21

10 + 11

Natalia

7

12 th November

The Cost of Production; Firms in Competitive Markets

13 + 14

Natalia

8

19 th November

Monopoly

15 Dec

Natalia

9

26 th November

Oligopoly; Monopolistic Competition

16 + 17

Marek

10

3 rd December

The Markets for Factors of Production; Earnings and Discrimination

18 + 19

Sarah

11

9 th December

Income Inequality and Poverty

20 May

Sarah

12

16 th December

Frontiers of Microeconomics

22nd

Sarah

For students who decide to have MindTap assingments

MindTap is part of one of the two options for the final examination and it is up to the students to decide whether they want to make use of this option. MindTap is an online assignment system that provides students with the opportunity to meet their course requirements gradually during the semester on a weekly basis. Students choosing the MindTap examination option to pay the MindTap supplier GBP 20 plus value added tax for this course (around 772 CZK) if you use the discount code provided below. This price buys you MindTap not only for this course, but also for the ensuing one - Principles of Economics II in the summer semester. Also, you can try out MindTap before paying because it offers a grace period of unlimited access to this course to October 15 th .

Instructions on how to register for this course in MindTap :

  1. Go to https://login.cengagebrain.com/course/MTPP3XFNX590 and create a new account.
  2. Fill in, then confirm your personal information, accept email confirmation and pay now or later.
  3. Login at MindTap to your course and start with your assignments!
  4. When making a purchase you will need to enter this discount code 891MAN20 on the payment screen where you enter your credit card details.

 

 
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