ACE 398 IAM: Intermediate Applied Microeconomics
Why does ethanol policy affect the profitability of cattle ranchers? Is it better to help families in developing countries with food donations or mini cash grants? What will happen to the price of cars if the U.S. puts a tariff on steel? Does it matter if employers sign people up for retirement savings automatically instead of just letting them opt in? Who would pay the cost of a carbon tax – electricity consumers or producers? Microeconomic theory helps us answer many important questions about markets and human behavior. Students in ACE 398IAM will learn rigorous intermediate microeconomic theory through applications to important areas such as agriculture, development, finance, consumer behavior, and the environment.
Prerequisites (Must be complete BEFORE taking this course):
ACE 100 or equivalent.
Instructor Teaching the Course:
This course is taught by the instructor below. You may click on their name to learn more about them. Teaching schedules vary by semester. Please check the Course Explorer for the most up-to-date information about the sections they will teach.
Dr. Amy Ando
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See when the course is offered as well as section details here:
Spring 2019 Restrictions
None! This course meets the ECON 302 requirement for ACE students.
Additional Course Information
Read more about what Dr. Ando has to say about ACE 398IAM!
Is this class discussion-based or lecture-based? How would you describe your teaching style?
There are two 50-minute lectures a week and then a Friday section led by a TA. The lectures are very active, with lots of Q&A encouraged. I use board work to teach theory so I don’t go faster than students can write and they can see where all the graphs and equations come from. The Friday section will be active-learning problem-solving tutorials and instructional games.
How are students evaluated (e.g. multiple choice or essay tests, papers, etc.)?
Students are evaluated with frequent homework assignments, two midterm exams, a final exam, and three very short writing assignments. The homework helps students learn material for the exams, and students’ lowest homework grades will be dropped.
What careers does this course help prepare students to pursue?
This course is the backbone of economics. It is designed to prepare students for advanced coursework in economics. And so many careers are possible with this background! You can work in ag business and marketing, environmental policy analysis and policy making, finance, personal financial planning, international development, data science, and more.
What courses can students take to prepare for this material?
You must take introductory microeconomics like ACE 100 or ECON 102.
In what ways does this course prepare students to move through the program and/or into the work force?
This class will prepare students for success in upper level economics classes. It will give them a deep understanding about how consumers, producers, and markets work that is helpful for students in many majors. Microeconomic theory teaches careful and rigorous thinking and analysis, which is an important skill in many careers.
What is your background in Agricultural and Consumer Economics?
Professor Ando is an environmental and resource economist. Her PhD is in economics from MIT, where her coursework was on public finance and industrial organization.
What is your attendance policy?
I don’t take attendance. But the activities in the Friday sections are graded to encourage students to attend them because they are so important for learning in the course.