APEC 308 – Quantitative Applied Economics
Fall 2006
(Section 1, 4:00-5:15 p.m. MW, P&AS A-145)
Instructor: Wilder N. Ferreira
279 Barre Hall, Tel: 656-5785
Office Hours: Monday/Wednesday/Friday, 11:20-12:20 pm or by appointment. You can always get in touch with me by sending me an email at: wferrei@clemson.edu
Website: http://cherokee.agecon.clemson.edu/agribusiness/apec308/apec308.html
Description: The emphasis of this course will be on using Economic Decision Analysis in Agribusiness with Microsoft Excel.
The objective of this course is to help students understand how they can make use of microcomputers to create spreadsheet and database files to solve problems related to economic decision making in agribusiness companies. This course will focus on a combination of economics principles such as profit maximization, diminishing marginal returns, marginal cost, marginal revenue, break-even analysis, and economies of scale to help create decision making scenarios to the management of agricultural industries. Understanding and use of real problem solving applications in Excel and Access will be emphasized.
Textbook: Michael I. Duke, K. Smith, L. M. Smith, and L.C. Smith Microsoft Excel for Microeconomics. Pearson Prentice Hall, New Jersey, 2004. (ISBN 0-13-142124-7).
Handouts: Appropriate handouts will be provided throughout the course.
Grading:
Class Participation 10 %
Midterm 25 %
Homework(s) 20 %
Project 20 %
Final 25 %
Current Grading System:
Class participation will take into account all the work done in class and quizzes that should be inquired during classes without previous note. Homework will focus on materials covered in class. They will be announced in advance and should be completed on the computer or on paper based questionnaires. All quizzes on the PowerPoint presentations should be answered on a peice of paper or on the computer (students are allowed to use MS-Word to take notes) and will count towards the final grade. The instructor will collect them at his discretion.
The course grading scale is A for 90-100%; b for 80-90%; C for 70-79%; D for 60-69%, and F for less than 59%. Your can find your final letter grade by going on the web to tigerweb.clemson.edu, by using SIS, or by call TigerLine at 656-TIGER.
Course Project:
The project should be completed individually. Students can make use of their class assignments as part of their projects and should strive to produce projects that integrate several of the economic principles and topics covered in class. The project directives will be distributed soon. A project will consist of an application of economic decision analysis principles in an agribusiness firm through the use of a software application developed in MS-Excel by the student. A student can chose to work on a real economic decision analysis project for a company where he/she has previously been employed.
All project reports should be written based on the instructions provided. The specific instructions will be provided to all students. The date the report has to be submitted will be announced in class. Late reports will automatically result in a zero grade.
Rules and Regulations:
Attendance at lectures is not mandatory but is expected. However, each student is responsible for all information distributed and/or presented during lecture periods. Absences may affect class participation score. The students are authorized to leave if the instructor is more than 15 minutes late for a lecture. However, every possible effort will be made to inform you for any classes that are canceled due to an unscheduled conflict or emergency. Make-up of any of the quizzes will be considered only under extraordinary circumstances or advance arrangement. No late submission of work will be accepted. Game playing, internet browsing, email, music listening, etc. will not be allowed during lecture/lab unless assigned by the instructor. Students caught reading e-mails will automatically receive a grade 0 (zero) in class participation.
Academic Integrity:
Students are expected to conduct themselves both in a professional manner and in accordance with the University’s statement regarding academic integrity:
“As a member of the Clemson University, we have inherited Thomas Green Clemson’s vision of this institution as a “high seminary of learning.” Fundamental to this vision is a mutual commitment to truthfulness, honor, and responsibility, without which we cannot earn the trust and respect of others. Furthermore, we recognize that academic dishonesty detracts from the value of a Clemson degree. Therefore, we shall not tolerate lying, cheating, or stealing in any form.”
Disability:
Disability access statement from the Office of Student Disability Services:
“It is University policy to provide, on a flexible and individualized basis, reasonable accommodations to students who have disabilities. Students are encouraged to contact Student Disability Services to discuss their individual needs for accommodation.”
Preliminary Course Content:
Computer Basics (Chapter 1)
Excel Basic Commands (Chapter 1)
Making a Worksheet (Chapter 2)
Special Features (Chapter 3)
Charts and Worksheet Manipulation (Chapter 4)
Data Manipulation (Chapter 5)
Guidelines for Worksheet Design (Chapter 6)
MIDTERM I
Economic Decision Analysis (Worksheet Assignments)
Introduction to Economics
Supply and Demand
Elasticity
Consumer Choice
Production and Cost
Perfect Competition
Market Efficiency and Monopolistic Competition
Investment Decisions
Scarcity
International Trade
Optimization Models
FINAL EXAM
Note: The above schedule is preliminary in nature and is subject to change.
Note: This syllabus is preliminary and is subject to change. The syllabus distributed in class is the official version.
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2006 by Wilder N. Ferreira, Department of Applied Economics & Statistics, Clemson University, Clemson, SC 29634-0313
updated 10/26/06