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Mynhier - LuskinSchoolofPublicAffairs.PA40 (Summer 2021) (Last Modified 2021-08-3 - 07-00)
Mynhier - LuskinSchoolofPublicAffairs.PA40 (Summer 2021) (Last Modified 2021-08-3 - 07-00)
Instructor
Laurelyn Mynhier, M.A. [email protected]
Note: Please feel free to email me with any questions or concerns. I will respond as soon as possible, but please
allow me up to 48 hours to respond on weekdays and until Monday evening for emails sent over the weekend.
Office Hours: Wednesdays from 12 to 2 p.m.
Weekly office hours will be held via Zoom.
https://ucla.zoom.us/j/99327891993?pwd=NCs1SlQ2dksxNGF1ZTRySzhrYlhjUT09
Lectures: Lectures will be held in person but will also be recorded. I strongly encourage you to attend in
person whenever possible.
Course Description
This course introduces students to traditional and emerging microeconomic methods with an eye toward
evaluating public policy. Students will learn microeconomic models and concepts such as comparative
advantage, supply and demand, market failure, perfect competition, and monopoly, as well as their
implications for the allocation of resources and for decision-making by individuals and firms. Using this
framework, we will discuss housing, labor, environmental, and education policy, the social safety net,
inequality and other policy concerns as well as how to mitigate unintended consequences and promote
social justice.
Learning Objectives
By the end of this course you should be able to
• Graph and explain foundational microeconomic models and link graphical representations to
their algebraic equivalent.
• Explain the how foundational economic models are applied to policy, what these models imply
as a policy prescription, the limitations of the policy prescription, and how the particular policy
prescription impacts society and the economy.
• Describe the circumstances/assumptions under which model predictions are accurate.
• Engage in critical discussion of ongoing policy debates and be able to present alternative and
emerging social and economic perspectives on the issue at hand.
Textbook and Supplemental Materials
Krugman, P. and Wells, R. (2021) Microeconomics: Sixth Edition, New York: Worth
Publishers, ISBN: 978-1-319-32021-8
Use of the textbook is critical to successful completion of the course. It is available online
from Chegg Books, Amazon and a variety of other sites. Prices range from about $25 to about
$150 depending on format and edition. Use of prior editions is permitted, but page numbers,
opening stories, business cases and applications may vary. The book is also available at the
bookstore.
Supplemental readings:
Boushey, H. (2019). Unbound: How Inequality Constricts our Economy and What We Can Do
About It. Cambridge: Harvard University Press.
Collier, P. (2018). The Future of Capitalism: Facing New Anxieties. New York: Harper Collins.
Davies, R. (2019). Extreme Economies: Survival, Failure, Future, Lessons from the World’s
Limits. London: Bantam Press.
Kwak, J. (2017). Economism: Bad Economics and the Rise of Inequality. New York: Pantheon
Books.
Piketty, T. (2015). The Economics of Inequality. Cambridge: Belknap Press of Harvard
University Press.
Piketty, T. (2014). Capital in the 21st Century. Cambridge: Belknap Press of Harvard
University Press.
Raworth, K. (2017). Doughnut Economics:7 Ways to Think Like a 21st Century Economist.
Vermont: Chelsea Green Publishing.
Sen, A. (1999). Development as Freedom. New York: Alfred A. Knopf
Sen, A. (1992). Inequality Reexamined. New York: Harvard University Press.
Stiglitz, J. (2019). People, Power, and Profits: Progressive Capitalism for and Age of Discontent.
New York: W.W. Norton & Company.
Stiglitz, J. (2012). The Price of Inequality: How Today’s Divided Society Endangers Our Future.
New York: W. W. Norton & Company.
Supplemental videos and websites:
Capital in the 21st Century: available on Netflix and other platforms
Donut Economics Website: https://www.kateraworth.com/doughnut/
Institute for New Economic Thinking:
https://www.youtube.com/c/NewEconomicThinking/featured
11 New Economic Thinkers You Should Watch:
youtube.com/playlist?list=PLmtuEaMvhDZa_BzZr-WdTBYkR2YBvFWm0
Daily Work
• Students will be required to complete course readings before class. In support of this,
students are required to take bi-weekly quizzes comprised of questions on the
assigned chapters. These quizzes will not be timed and will be graded pass/no pass
with a 70% required to pass. They will count toward your course participation
grade. All quizzes will open one week before the associated lecture and students should
complete them before class, however, I will close the quizzes approximately 24 hours
after lecture completion in case some students watch the recorded lecture. Quizzes will
not be reopened, but your lowest quiz will be dropped. These quizzes as well as in-
class activities are intended to gauge student progress toward learning expectations and
ensure that students are prepared for exams. Further, these will serve as critical feedback
to the instructor that will inform her choice of topics that are in need of review or further
explanation.
• Worked examples will be covered in lecture in order to enhance understanding and
facilitate completion of the assigned problem sets.
• Supplemental readings and videos will be covered in lecture. Questions or prompts
related to these materials will enhance class discussion and will be used as part of
optional extra credit assignments.
• Due to the condensed nature of summer session, it is extremely important that students
stay a caught up on all assigned work and that you communicate with me early and
often if you are struggling.
Inclusive Learning Environment
• As your instructor, I am committed to fostering an inclusive learning environment. We
will have many opportunities to increase our understandings of different perspectives this
quarter, and our work together may not always be easy. Sometimes we will make
mistakes in our speaking and listening; sometimes we will need patience or courage or
imagination—or more—to engage with our texts, each other, and our own ideas and
experiences within higher education and in community work. We have a shared
responsibility to bring respect for others and an open mind to each class discussion, in
person and online, so that this class can be a space for brave and thoughtful dialogue. In
addition to the values outlined here, we will work together to articulate other shared
values for the course throughout the quarter.
• Students in this class are encouraged to speak up and participate during class meetings.
Because the class will represent a diversity of individual beliefs, backgrounds, and
experiences, every member of the class must show respect for every other member.
• I am firmly committed to diversity and equality in all areas of campus life. In this class I
will work to promote an anti-discriminatory environment where everyone feels safe and
welcome. I recognize that discrimination can be direct or indirect and take place at both
institutional and personal levels. I believe that such discrimination is unacceptable, and I
am committed to providing equality of opportunity for all by eliminating any and all
discrimination, harassment, bullying, or victimization. The success of this policy relies on
the support and understanding of everyone in this class. We all have a responsibility not
to be offensive to each other, or to participate in, or condone harassment or
discrimination of any kind.
• UCLA’s Office for Equity, Diversity, and Inclusion provides resources, events, and
information about current initiatives at UCLA to support equality for all members of the
UCLA community. I hope that you will communicate with me or your TA if you
experience anything in this course that does not support an inclusive environment, and
you can also report any incidents you may witness or experience on campus to the Office
of Equity, Diversity, and Inclusion on their website: https://equity.ucla.edu/.
Course Grading
Grade Cutoffs
98% + A+ 77-79.99% C+
93-97.99% A 73-76.99% C
90-92.99% A- 70-72.99% C-
87-89.99% B+ 67-69.99% D+
83-86.99% B 63-66.99% D
80-82.99% B- 60-62.99% D-
<60 F
Class Policies
Attendance, Late Work, Extensions, and Make-up Exams
• Lectures will be held as live Zoom sessions to allow for interactions with the instructor
and one another. However, should you be unable to attend lecture it will be recorded,
the lecture and all in-class activities will be available on CCLE. The lectures will consist
of a key topic review, questions and debate followed by group practice problem
collaborations.
• Given the highly condensed nature of summer session courses, it is extremely important
that you complete your reading and homework assignments on time. That said, I
understand that these are challenging times, and I will, therefore, allow limited
extensions on assignments of up to 24 hours if requested before the due date with an
explanation of the circumstances. Extensions will not be granted on group assignments.
Regrading
• Requests for regrading must be submitted in writing with a description of why the
problem or assignment should be regraded and/or an explanation of why you feel your
answer was correct.
Academic Integrity
• With its status as a world-class research institution, it is critical that the University uphold
the highest standards of integrity both inside and outside the classroom. As a student and
member of the UCLA community, you are expected to demonstrate integrity in all of your
academic endeavors. Accordingly, when accusations of academic dishonesty occur, The
Office of the Dean of Students is charged with investigating and adjudicating suspected
violations. Academic dishonesty includes, but is not limited to, cheating, fabrication,
plagiarism, multiple submissions or facilitating academic misconduct. All evidence of
cheating or plagiarism will be turned over to the Dean of Students for further examination
and possible prosecution. See the Student Guide to Academic Integrity for more
information: https://www.deanofstudents.ucla.edu/portals/16/documents/studentguide.pdf
• The UCLA Library has also created a tutorial to guide students through how to avoid
plagiarism, intellectual property theft, and violating file sharing rules here:
http://guides.library.ucla.edu/bruin-success
• A key component of academic integrity is the use of citations when you present ideas
and/or language that you have not developed yourself, including material from class
lectures and discussions.
• Violation of this policy includes collaborating on assignments where collaboration is not
allowed and/or utilizing notes, texts, etc. on any assignment where use of such materials
is not allowed.
Disclaimer
The instructor reserves the right to make modifications to this information throughout the quarter.
Week 1: Supply and Demand, Consumer and Producer Surplus, Market Intervention
Key Concepts: supply and demand, consumer and producer surplus, elasticity, price floors and ceilings,
quotas, the labor market, efficiency, deadweight loss.
Activities: Lecture 1 (week 0 readings), Lecture 2 (Chapter 3), Problem Set 1 posted.
Deriving a demand curve. Pre-class recall quizzes and In-class Practice problems. Supplementary videos
and discussion. Robert Reich videos on unions and minimum wage.
Policy Applications: Minimum wage, rent control, unions
Pre-Class Readings: Chapters 3,4, and 5 Krugman and Wells
Assignments:
Aug. 2nd to Aug. 8th:
• Read Chapter 3 and take Pre-class Quiz 2 on CCLE by Friday, August 6th at 11:59
p.m.
• Read Chapters 4 and 5 and work on Problem Set 1 over the weekend
Week 3: Taxes, International Trade, Consumer and Producer Decision-Making, Rational Choice,
Inputs and Costs
Key Concepts: gains from trade, absolute and comparative advantage, marginal cost and benefit,
rationality and preferences, marginal utility, budget line, production function, average and marginal cost
Activities: Lecture 5 (Chapters 7 and 8), Lecture 6 (Chapter 9), problem set 2 posted
Pre-class Recall Quizzes and In-class Practice problems. Supplementary videos and discussion.
Policy Applications: pollution, immunizations, Pigouvian tax, cap and trade
Pre-Class Readings: Chapters 9, 10 and 11 Krugman and Wells
Assignments:
Aug. 16th to Aug. 22nd:
• Finish Chapters 7 and 8 and take Pre-Class Quiz 5 on CCLE by Wednesday,
August18th at 11:59 p.m.
• Read Chapter 9 and take Pre-class Quiz 6 on CCLE by Friday, August 20th at 11:59
p.m.
• Study for Midterm over the weekend. If possible, also work on Problem Set 2, Iand
Chapter 10 and 11 readings over the weekend.
Week 4: Rational Choice, Inputs and Costs, Perfect Competition, Monopoly, Oligopoly
Key Concepts: perfect competition, monopoly, oligopoly
Activities: Lecture 7 (Chapters 10 and 11), Lecture 8 (Chapter 12)
Pre-class Recall Quizzes and In-class Practice problems. Supplementary videos and discussion on
alternative to rational choice (capability approach).
Policy Applications: well-being measurement, monopoly regulation
Pre-Class Readings: Chapters 12, 13, and 14, Krugman and Wells
Assignments:
Aug. 23rd to Aug. 29th:
• Midterm Monday, August 23rd, on CCLE covering material from lectures 1-6
• Finish Chapters 10 and 11 and take Pre-Class Quiz 7 on CCLE by Wednesday, August
25th at 11:59 p.m.
• Read Chapter 12 and take Pre-class Quiz 8 on CCLE by Friday, August 27th at 11:59
p.m.
• Read Chapters 13 and 14 and work on Problem Set 2 over the weekend
Week 6: Public Goods and Common Resources, GDP Discussion, Review, and Final Exam
Activities: Lecture 11 (Chapters 13 and 14, GDP discussion), Lecture12 (Review)
Pre-class Recall Quizzes and In-class Practice problems. In-class review.
Assignments:
Sept 6th to Sept. 10th:
• Finish Chapters 16 and 17 and take Pre-Class Quiz 11 on CCLE by Wednesday,
September 8th at 11:59 p.m.
• Submit In-Class Practice Problems 3 for lectures 9 through 11 by Wednesday,
September 8th at 11:59 p.m.
• In class review Thursday, September 9th
• Final Exam Friday, September 10th on CCLE