Syllabus

This semester, you will also be a "lab rat". That is, you will be the subject of and a participant in a number of experiments. We will then use the experimental results to develop economic theory. The experiments will not be injurious to your physical health. They may, however, result in a stretching of your mind. That is a good thing. Because laboratory results depend on large groups it is imperative that you attend class and that you be on time. Some of the experiments will take the entire class time to complete.  In addition, you will have the opportunity to make a real profit (U.S. dollars) by participating in the experiments.

We will be conducting nine economic experiments in class.  These experiments are run on a for profit basis.  Each person will be have the opportunity to make a profit in each experiment.  Luck of the draw is important, but knowing how to profit with a poor draw is just as important.  You will be graded based on your ability to make a profit (5% of your final grade).  In addition, if you want to play for money, you must contribute $10 to the kitty before the first in-class experiment.  At the end of the semester I will distribute the total amount in the kitty based on the profits of the people who contributed.  The best performance so far was by a person who put in $10 and got $18.35 back.   Another person got $5.46 back.  Feel confident?  Put your money where your mind is.  Each experiment has an associated Warm-up Exercise.  In order to conduct the experiment and do well with it you should read and do the Warm-up Exercise before class.  IT IS YOUR RESPONSIBLITY to be ready for the experiment and understand what is going on.

Each group will have nine homework assignments due.  The homework is based on the results of the experiments conducted in class.  Each Homework Assignment is worth 4 points. The homework assignment will be submitted on the paper from the Bergstrom and Miller Experiments text.  No photocopies or other submissions will be accepted.  These are to be turned in at the beginning of the class (later in class is half off, later than the end of class is a 0) on the date designated (see schedule).  Results of the experiments will be posted on the Web as rapidly as possible. Do not rely on being able to get the results from the Web if you want them 2 hours before the assignment is due.  All paper submitions must be neatly printed, i.e. easily legible, stapled once and have all group member names on it.

There will be two in-class tests during the semester. Each test is worth 30 points. There will also be a final exam, worth 40 points.  All tests and exams are cumulative. They will consist of multiple choice, and short answer questions. No calculators or other electronic devices may be used during the tests.

Unfortunately, academic honesty is a continuing problem at virtually all schools. If you are caught cheating on any graded assignment, test, etc., you will receive a 0 for that assignment/test. On tests, you may use: pen and/or pencil, eraser (I use lots of these), a straight edge, your mind. Unless I state otherwise, in writing, you may not use anything else on an exam. To do so is to cheat. On homework, etc. you may work with other groups to decide answers, but each group will turn in its own work. Photocopies, repeated print outs with small changes or any other attempt to circumvent this policy will be considered cheating and all parties involved will receive a 0.

If you think that I have graded improperly, in some fashion, resubmit the assignment/test with a written statement explaining what problems you see with the grade received. I will regrade the entire assignment and change your grade accordingly.