Analysis of MarketsCOURSE OUTLINE COMM 220 BB • F AL L 2015 Gregory Lypny [email protected] • pareto.concordia.ca MB 11.307 • (514) 848-2424 ext. 2794 Lecture every Tuesday, 5:45 p.m. to 8 p.m. in MB 2.210 Office hours by appointment every Friday from 2 p.m. to 3 p.m. Tutorial every Friday from 3 p.m. to 4 p.m. in MB 2.285 COMM 220 BB • Fall 2015 Course Outline Page 1 ! of 7 ! New York. Check the cubby regularly. from my cloud cubby. market experiments. Hal R. Grading Test Assignment Final exam 35% 10% 55% Tuesday. Norton and Company.W. if you don’t write it. topics 1 through 5 Tuesday.. multiple-choice. November 15. class notes. Plagiarism or any other kind of cheating will not be tolerated. 2014. COMM 220 BB • Fall 2015 Course Outline Page 2 ! of 7 ! . The goal is to get you thinking about economics scientifically. The premise is that having choice is good—freedom in the bigger context—as it applies to trade. upload to Moodle Same format as the test There is no makeup for the test. The textbook is recommended but not required because I don’t teach from a textbook. 9th Edition. You must pass the final exam (a grade of 50%) in order to pass the course. a set of readings. October 27. the weight will be added to the final exam. The difference between Markets and other introductory microeconomics courses is that we’ll flip back and forth between markets for real goods and financial goods. Course materials You can get all of the materials for this course.. Intermediate Microeconomics: A Modern Approach. and sometimes.m. Late submissions of the assignment will not be accepted. Software Install Wolfram Mathematica from the MyConcordia portal or Wolfram’s CDF Player app. Homework Ten quizzes and miscellaneous exercises will be posted for you to work on. W.About COMM 220 Analysis of Markets is an undergraduate economics course that looks at some of the benefits and problems of capitalism through the functioning of its markets. Textbook Varian. Code of Conduct Read about academic integrity and the code of conduct. 2015. homework quizzes. 2015 by 5 p. in-class. except for the readings. Earlier editions are okay too. ISBN 0-393-97830-3. Our discussions will draw on economic theory. “Does Money Buy Happiness?” The Atlantic.Topics 1.” The Economist. December 23. Daniel. “Happiness (and How to Measure It). 1991. “Economics Discovers Its Feelings. Thaler. “When Does ‘Economic Man’ Dominate Social Behavior.” Journal of Economic Perspectives.” The Economist. “What Makes Markets Allocationally Efficient?” Quarterly Journal of Economics. “Why Johnny Can't Save for Retirement. 20(1):221-234. “Blatant Benevolence and Conspicuous Consumption. 151(6):202. 2003. 118126.” Harvard Business Review. 1997. D. March 21. and S. Alvin. Colin F. COMM 220 BB • Fall 2015 Course Outline Page 3 ! of 7 ! . Camerer. October 2007. and Ernst Fehr. H. and Status Quo Bias. 2006.” The Economist. November 4. May 10. “Behaviourists at the Gate. Gode.(8323):82. Thaler.” Fortune. Richard. Peck. August 4. 381(8509):35. 14(1):133-141. 381(8502):102. 291(1):42. Jack L. 381(8509):13. “The Art of Designing Markets. Building economic models (1 lecture) Kahneman.” Journal of Economic Perspectives. E.” Journal of Economic Perspectives. 3. 112(2): 603-630.” The Economist. “From Homo Economicus to Homo Sapiens. 311:47-52. 30. “The Endowment Effect. Utility Theory (1½ lectures) Chapters 1 to 5 in Varian. Daniel and Richard H. December 23. 2005. Kahneman. 2006.” Science. 2000. Thaler. January-February 2003.” The Economist. Welfare and general equilibrium (1 lecture) Chapters 6 to 9. 14 to 16. Sunder. Loss Aversion. 5(1):193-206. 2006. Knetsch. 367. 2006. 2. “Utility Maximization and Experienced Utility. “Winds of Change. and 32 in Varian. and Richard H. Roth.. 384(8540):67. Don and Ross Douthat. 2006.. 2007. Production and finance (1 lecture) Chapters 18.4. 2006." Journal of Economic Perspectives. 370(8363):11.” The Economist. Galbraith. February 21.” Journal of Economic Perspectives. Thaler. 2007. “Beyond Shareholder Value.” The Economist. “The Great Hollowing-Out Myth. 2002.” The Economist. Shiller. 1987. 2004. 372(8387):73. “Corporate Diversification. 2000. 1990. De Bondt. 2004. 5. “The 1929 Parallel. ”Anomalies: Seasonal Movements in Security Prices II: Weekend.” The Economist. 4(2):55-65. 364(8283):76.” The Economist. 380(8494):90. 1994. John K. “Speculative Prices and Popular Models. 2004. Richard. 370(8363):48. March 25. November 16. August 7. ”Anomalies: The January Effect. “Bubble Bubble. Thaler.” The Economist. “When Battles Commence. and Mike Staunton. Dimson. The Economist. “How Far is Down?. 367(8330):9 [Survey]. June 28. 2002. and 31 in Varian. Paul Marsh. Elroy. 8(3):163-178. 2004. 259(1):62-66. October 6.” The Atlantic. February 21. “Irrational Optimism. 2004. 354(8163):84.” Journal of Economic Perspectives. Montgomery. February 21.” Journal of Economic Perspectives. COMM 220 BB • Fall 2015 Course Outline Page 4 ! of 7 ! . 3(1):189-202. “Access all Areas”. 1(2): 169-177. “To Infinity and Beyond. 385(8549):100.” Financial Analysts Journal. “How to Pay Bosses." Journal of Economic Perspectives. 2003. Holiday. 1987. 1(1): 197-201.. September 9. “The New Jobs Migration. Cynthia. 19. July 27. 370(8363):80 [Special report on mergers and acquisitions]. Werner and Richard H. Turn of the Month. Dismal Sentence. January 1987. Robert. Information (two lectures) Chapters 11 through 13 in Varian. Thaler. and Intraday Effects.” The Economist.” The Economist. Richard. 60(1):15-25. 365(8299):86. “Dismal Science. Anomalies: A Mean-Reverting Walk Down Wall Street.” The Economist. “1989. “A Matter of Degrees.” The Economist. 298(4):25. “An Eye for an A. 372(8386):61.” The Economist. “The Avuncular State — Libertarian Paternalism. 372(8388):57.” The Economist.” The Economist.” The Economist. December 11. “A Blunt Instrument (The Minimum Wage). March 7. 2004. Not Pro-business. The Sciences. February 14. “On the Same Wavelength. “Patent Absurdities.” 1999.” Nature. “Make 'em Pay. “What Can We Learn from the Grand Policy Experiment?: Lessons from SO2 Allowance Trading. A Free-for-all Does not Work. Stavins.” The Economist.” Journal of Economic Perspectives. July 31.” The Economist.” The Economist. “In Higher Education. May 11. Crook. April 26. 381(8501):8 [Survey: Lessons from the Campus]. “Scholars for Dollars. 367(8322):83. “Signal Failure. 2006. 360(8237):27. 39(1):30-33.6. 2004. 362(8263):92.” The Economist. September 1.” The Atlantic. 363(8272):105. 2003. Robert. 7. 2006. 370(8362):74. 2003. 2003. Shulman. 2004. 1998.” The Economist. July 2005. “Genetic Patent Singles Out Jewish Women. February 1. “Pro-market. 373(8405):69. COMM 220 BB • Fall 2015 Course Outline Page 5 ! of 7 ! . Government intervention (1 lecture) Chapter 6 in Varian. Clive.” The Economist. November. June 28. October 26. 12(3):69-88. Market failure (1 lecture) Chapters 35 and 36 in Varian. 2006. 367(8330):12. April 8. October 28.” The Economist. “D-graded. 379(8472):76 [Special report]. “Stopping Spam. 2006. “A Great Leap Forward. 367(8321):66. 2002. Seth. “Doing Well and Doing Good. 366(8309):49.” The Economist. 2004. 2003.” The Economist. 2001. May 3. August 14. “A Simple Lesson in Economics. 2002. Fungibility. “Anomalies: Foreign Exchange.” Fortune. 21(3):81-104.” The Economist. November 8. “Heuristics and Biases in Retirement Savings Behavior. 2005. 366(8316):91. “McCurrencies.8. “Risk Management for the Masses.” The Economist.” Journal of Economic Perspectives. International markets (1 lecture) Froot. 9. March 22. 2007. Richard. March 21.” The Economist. 1990. “Home Truths. 2003. 366(8306):70. Shlomo and Richard Thaler. 2006. 345(8042):85. [reprise] 10.” Journal of Economic Perspectives. “Anomalies: Savings. “Trade Winds. 365(8295):95. Thaler. May 27. 2002.” Journal of Economic Perspectives.” The Economist.” The Economist. Kenneth and Richard H. Benartzi.” The Economist. 4(3):179-192. time permitting) Chapters 11 through 13 in Varian. and Mental Accounts. October 19. Markets for risk (1½ lectures. “Doomsday Derivatives. 1997. 4(1):193-205. Thaler. 379(8479):94. 2001. Intertemporal markets (1½ lectures) Chapter 10 in Varian. 2003. “Living in Never-never Land. 1990. November 10. “Why Johnny Can’t Save for Retirement. January 11. 361(8247):104. COMM 220 BB • Fall 2015 Course Outline Page 6 ! of 7 ! . Other Information Grade Conversion I reserve the right to adjust the class average by adding or deducting the same fixed amount from everyone’s grade. if you have done a project under my supervision or who have worked for me as a teaching or research assistant. A+ 90% and above A 85 to 89% A- 80 to 84% B+ 77 to 79% B 73 to 76% B- 70 to 72% C+ 67 to 69% C 63 to 66% C- 60 to 62% D+ 57 to 59% D 53 to 56% D- 50 to 52% F Less than 50% Letters of Recommendation Maybe. which would leave your numerical grade rank in the class unchanged but might change your letter grade rank. COMM 220 BB • Fall 2015 Course Outline Page 7 ! of 7 ! .