RES-ECON 202: Price Theory

Example syllabus only – exact content subject to change. Please see your instructor’s syllabus for the current term for your specific course’s guidelines.

Meetings: TuThu 1pm-2:15pm 1/29/2026 - 5/8/2026
Lecture Location: Hasbrouck Lab Add room 126

Discussions/Math labs: Session 1 (Wed 11:15am-12:05pm); Session 2 (Wed 12:20-1:10pm).
Location: Holdsworth Hall 202 (Both sessions).

Instructor: Dr. Miah Tran
Office Location: Stockbridge Hall 217C
Office Hours: TuThu 10-11am and by appointment

Teaching Assistant: To be updated.

NUMBER OF COURSE CREDITS: 4

PREREQUISITES: RES-ECON 102 or ECON 103, MATH 127 or MATH 131

COURSE DESCRIPTION AND OBJECTIVES

Price theory is the study of how individuals and firms make decisions given their resource constraints and how their choices interact with each other. This course will extend your understanding of crucial economic theories and topics such as consumer utility maximization problem, profit maximization problem, market structure, preferences, indifference curves, and equilibrium. However, instead of learning these issues only through graphs and stories as you probably did in principles classes, you will learn to build up mathematical models to explain these concepts. You would also be able to derive the demand curve from consumers’ underlying indifference curves as well as the supply curve from the cost function. Completion of this course will enable you to become a better economic naturalist, a valuable team player, and prepare you with economic backgrounds that are necessary for more advanced courses.

This course contributes to the following student learning objectives for undergraduate students in the Department of Resource Economics:

COURSE WEB PAGE

Canvas (go to https://www.umass.edu/it/canvas). I will post learning materials, grades, etc. in Canvas. It is important that you check the website frequently.

Canvas Support

• Live Chat: Canvas Support for Students
• Phone: +1 (855) 219-3080
• Search: Find the answer to your question in Canvas Resources for Students

COURSE MATERIALS

Textbook (required): Microeconomics 8th edition by Jeffrey M. Perloff. Publisher: Pearson. ISBN: 9780134519531

iClicker2 (required):

• Iclicker2 physical Remote: ISBN: 9781319566487 Always bring your iClicker to class!
• After acquiring the Iclicker2 physical remote, you must register its ID in a cloud account for the course at https://www.iclicker.com/ if you haven’t done so. Registration instructions for student iClicker can be found at https://mhe.my.site.com/iclicker/s/article/How-to- Register-a-Remote-in-the-iClicker-Student-App?r=232&ui-knowledge-components-aura- actions.KnowledgeArticleVersionCreateDraftFromOnlineAction.createDraftFromOnlineAr  ticle=1

Online Web Learning (OWL): You will do assignments via the university’s free Online Web Learning (OWL) platform. You can access OWL by going to www.owl.oit.umass.edu (and select Resource Economics to log in) or through this link: https://owl.umass.edu/owl- c/user/loginpage.cgi?UserType=Student&Server=owl-resourceeconomics

Useful news links:

• The Wall Street Journal: http://www.wsj.com/
• New England Public Radio (NPR news): http://www.npr.org/sections/news/
• The Economist: http://www.economist.com/

*Reading the materials before class is a MUST. We will dedicate most of class time to discussing the most important concepts of that chapter, exploring real-life examples, or working on the problem sets. It also means I won’t go through all the PowerPoint slides which I assume you already read before the class.

GRADE POLICIES

Grading Details:

• Math Test and Presentations: We will use Wednesday discussion hours for math review, discussions, or Q&A sessions. You will have one math test and submit a final Presentations/YouTube video - each contributes 5% of the total course scores (total 10%). My teaching assistant will lead discussion sessions. Details about the content of each discussion session will be posted on Canvas.
• iClicker Questions: The iClicker2 is an in-class communication system which uses radio frequency to allow students to send answers in response to questions that I will pose during class. While I encourage active learning in classroom by giving you 90% of the points for every iClicker question, the remaining 10% needs to be earned by answering the question correctly. Another benefit of answering iClicker questions is that some iClicker questions may show up in your future exams!
  ***SPECIAL NOTE: Please go to https://www.iclicker.com/ to sign up your iclicker student account. You are responsible for bringing your iClicker2 to every class as well as its responsiveness. I’ll post iclicker scores (if any) at the end of each week, but your score should be visible on your cloud iclicker gradebook after each response. So make sure to check immediately after your submission so that you get things fixed in due time. When you are not sure if your answers are recorded or if you forget your iClicker2, write your name and the date of the session on a piece of paper and turn it in at the end of that class session. However, you will only get your participation scores back, that is, 90% of the total scores of that day’s sessions. Detailed information about iClicker responsiveness can be found on Canvas.

• Pre-lecture Quizzes: I believe that pre-class preparations contribute a great deal to your understanding of the lectures. Quizzes are short and usually consist of 5-10 True/Fall, Matching, Fill- in-the Blanks questions. These quizzes are due midnight before the class sessions in which related contents are covered. For example, if Chapter 3 is lectured on Feb 2nd, then the prelecture quiz for this chapter is due Feb 1st midnight (Check OWL for the specific due dates). Quizzes will be posted and submitted online through the OWL system which you are able to access through Canvas. The lowest two scores will be dropped. There will be unlimited attempts for each quiz (the highest grade recorded). I allow a one-day deadline extension for each quiz with the following rules.

  Rules for one-day quiz or homework deadline extensions:

  • You have not attempted the quiz/homework.
  • You are subject to a penalty of 20% off your score.
  • There is only one attempt for this makeup quiz/homework.
  • There won’t be any makeup quizzes/homework after one day past due. PLEASE DO NOT ASK!
• Homework: Homework is used to assess your learning post-lectures. Like quizzes, homework is conducted through the OWL system and unlimited attempts (the highest grade recorded). However, unlike quizzes, only one lowest score of HW will be dropped and HW is much longer and consists of all types of questions (MC, T/F, Matching, Fill-in-the-blanks, Problem Solving, etc.). Homework assignments are due after the related chapter is lectured in class, specifically, midnight before a new chapter is introduced. For example, if Chapter 3 is lectured on Feb 2nd and Chapter 4 on Feb 6th, then homework for chapter 3 is due Feb 5th 11:59 PM (Check OWL for the specific due dates). Rules for late submissions or deadline extensions are the same as quizzes.
• Exams: We have 2 midterm exams and 1 final exam. All exams are not comprehensive, but the material does build on itself, so it is important to understand all the concepts covered in classes. Remember that there is no other make-up exam given unless the student has the university- approved reasons for not taking the tests as scheduled and provides all the written documents under such circumstances. Doctor notes must clearly specify which date and how many days you are allowed to take off.
  • Exams are closed book, but you may have one double-sided 3”x5” notecard. You are allowed a scientific calculator for all exams. You may not share calculators.
  • No electronic devices (cell phones, etc.) will be allowed during exams. If such devices are detected as being operational during an exam, it will be grounds for failure of the course.
  • To ensure your grade shows up correctly and on time on Spire, please report any conflict in scores within 48 hours after your final grade is posted.

ATTENDANCE POLICY

Although I do not take attendance, attending class is essential. A lot of material covered in class lectures may not be easily understood by just reading the texts. Attending regularly and actively is a good indicator of your responsibility and an excellent predictor of your overall performance. You are also given extra credit questions during these meetings.

CLASSROOM DECORUM

Students are expected to assist in maintaining a classroom environment that is conducive to learning. In order to assure that all students have the opportunity to gain from time spent in class, I propose certain basic standards of classroom respect be adhered to. Respect does not eliminate appropriate humor, enjoyment, or other indications of a comfortable and pleasant classroom community. However, there is an expectation that all participants in this course will:

• Display respect for all members of the classroom community: your instructor, TAs, your teammates, and fellow students.
• Attend and participate in lectures, group discussions, and other classroom activities.
• Avoid unnecessary disruptions during class such as private conversations, reading newspapers, speaking on cell phones, using a laptop for something other than current classroom work, arriving late or leaving early, eating, drinking, and sleeping during class.
• Please wait for the class to be formally dismissed before you start to pack up your things or get up to leave.
• Avoid negative language that is considered racist, sexist, or homophobic or in other ways may exclude members of our campus and classroom community.

ACCOMMODATIONS, ACADEMIC HONESTY, AND TITLE IX STATEMENTS

University policies regarding Accommodations, Academic Honesty, and Title IX, apply to all courses. The policies can be found following this link: https://www.umass.edu/senate/book/required-syllabus- statements.

AI POLICY

ChatGPT (Chat Generative Pre-trained Transformer) and similar AI (Artificial Intelligence) generators: Except exams and tests, the use of AI tools, including ChatGPT, is permitted in this course for students who wish to use them. To adhere to our scholarly values, students must cite any AI-generated material that informed their work (this includes in-text citations and/or use of quotations, and in your reference list). Using an AI tool to generate content without proper attribution or during any forms of exams and tests qualifies as academic dishonesty.

TENTATIVE COURSE OUTLINE

(Remember this is just a preliminary schedule. I may change it along the course to make your learning more efficient and valuable. Please check your Canvas frequently to get updated about the course contents.)

LECTURES (TuThu)

DISCUSSION SESSIONS/MATH LABS (Wed)