Freakonomics Econ 1100.02 - 100 WF 9:35am-10:55am Arps Hall 0384 Nicholas A.

Snow Office: 317 Arps Hall Office Hours: Tuesdays 2pm-4pm or by appointment Email: snow.172@osu.edu Course Introduction The aim of this course is to introduce students to rational choice and the economic way of thinking. The course will introduce the principles of microeconomic theory by examining the hidden economics of human action. Students will be introduced to these ideas by examining the economics of everyday life, for example the economics of love, taxes, etc., as well as examining rational explanations for seemingly irrational behavior, for example wife sales, trial by battle, human sacrifice etc. The aim of the course will be to introduce students to the amazing explanatory power of economics and to hopefully show how it is anything but a dismal science. Grading Your final grade will be based upon performance on a Research Paper (30%), Mid-Term (25%), Quizzes (35%) and Class Participation (10%). Grading Scale: A 100-93%; A- 92-90%; B+ 89-87%; B 86-83%; B- 82-80%; C+ 7977%; C 76-73%; C- 72-70%; D+ 69-67%; D 66-63%; D- 62-60%; and F <60%. Required Books (numerous articles will also be assigned throughout the semester, see tentative schedule below) Paul Heyne, Peter Boettke, and David Prychitko (2010). The Economic Way of Thinking, 12th edition. Pearson. (EWOT) Peter Leeson (2009). The Invisible Hook: the Hidden Economics of Pirates. Princeton University Press. (IH). Steven Landsburg (1993). The Armchair Economist: Economics & Everyday Life. Free Press. (AE). Recommended Books: Deirdre McCloskey (1999). Economical Writing. Waveland. Steven Levitt and Stephen Dubner (2009). Freakonomics: A Rogue Economist Explores the Hidden Side of Everything. William Morrow.

Research Paper Students will be required to write a research paper on either the rational choice behind the mundane or the rational choice of the seemingly irrational behavior. The student will be expected to attempt to provide a rational choice explanation for this behavior by using the tools learned in this course. More on this will be discussed later in class. The paper must be a minimum of 6 pages and a maximum of 10 pages. It must be doubled spaced with 12-pt Times Roman Font and 1-inch margins. It must contain a separate cover page and works cited (which do not count towards the page requirement). A minimum of 6 sources must also be used. The paper will be due April 25 by 5pm. A hard copy of the paper must be turned into either my office (Arps Hall 317) or my mailbox (Arps Hall 410). Late Papers will be marked down. Mid-Term The Midterm will test the student on the tools learned in the course up to that point. The midterm is meant to help me assess how the students are progressing in understanding the material up to this point. It will consist of multiple choice and short answer questions. The midterm is mainly on the readings, particularly from Heyne, Boettke, and Prychitkos The Economic Way of Thinking, but the question may also come from the other readings and class lecturers/discussions. The midterm will be on Friday March 1st; it will be closed book, notes, and any other materials. The Midterm may be made up only with a valid documented excuse but the make up midterm will be harder than the original. Quizzes Once a week a short quiz on the readings and class discussion will given for that specific week. You must be present and on time to take the quiz. There will be no make up quizzes (and with no exceptions), but at the end of the semester the two lowest quiz grades will be dropped. The quizzes are designed to encourage students to read the assigned materials and to pay attention and participate during class. Class Participation Students should contribute to the class discussions. Economics can be seen as a different way of thinking and thus one of the best ways to learn how to learn to think like an economist is to join in on the class discussion. Therefore, I expect all students to ask questions, bring up comments, and express their views throughout the semester. The more a students contributes to the class the discussion the better the participation grade. Schedule and Readings

Note this is a tentative schedule and the minimum reading requirements for the semester, it is subject to change. Dates in bold signifies that there will be no class that day. Week 1 January 9 (W) and January 11 (F) Topic: Rational Choice Theory and Economic Way of Thinking Sub-Topics: Efficiency, Exchange, and Comparative Advantage Readings: EWOT Chapters 1 and 2, and AE Chapters 1 and 4 Week 2 January 16 (W) and January 18 (F) Topic: Demand and the Economic Way of Thinking Sub-Topics: Opportunity Cost, Demand, and Elasticity Readings: EWOT Chapter 3, and AE - Chapter 2 Week 3 January 23 (W) and January 25 (F) Topic: Supply and the Economic Way of Thinking Sub-Topics: Supply, Costs, and Production Readings: EWOT Chapter 4, AE Chapter 16 Week 4 January 30 (W) and February 1 (F) Topic: Markets as A Coordination Process Sub-Topics: Competition and Cooperation, and Trading with Bandits? Readings: EWOT Chapter 5 Week 5 February 6 (W) and February 8 (F) Topic: Intervention into the Market and Unintended Consequences Sub-Topics: Price Controls, Taxes, and Other Market Interventions Readings: EWOT Chapter 6, and AE Chapter 7 Week 6 February 13 (W) and February 15 (F) Topic: Love and Economics Sub-Topic: Dating or the Market for Love, Wife Sales (Say What? Property Rights are important, remember?) Readings: AE Chapter 7, Leeson, Boettke, and Lemke, Wife Sales http://www.peterleeson.com/Wife_Sales.pdf Week 7 February 20 (W) and February 22 (F) Topic: The Importance of Profit and Loss Sub-Topics: The Role of Prices Readings: EWOT Chapter 7, AE Chapter 8 Week 8 February 27 (W) and March 1 (F) Topic: Midterm Review (W) and Midterm (F) Readings: NONE! Week 9 March 6 (W) and March 8 (F) Topic: Democracy and Economics

Sub-Topic: Economics of Politics, Pirates Readings: IH Chapters 2 and 3, AE Chapter 6 Week 10 March 13 (W) and March 15 (F) Topic: No Classes, Spring Break Readings: NONE! Week 11 March 20 (W) and March 22 (F) Topic: Economics in the Courtroom Sub-Topics: Coase Theorem, Trial by Ordeals, Trial By Battle, and Sassywood Readings: AE Chapter 9, Leeson and Coyne, Sassywood http://www.peterleeson.com/Sassywood.pdf Week 12 March 27 (W) and March 29 (F) Topic: Legal Systems Different From Our Own Sub-Topic: Medieval Iceland, Gypsy Law, and the Law Merchant Readings: Leeson, Gypsy Law http://www.peterleeson.com/Gypsies.pdf, Friedman, Private Creation and Enforcement of Law http://www.daviddfriedman.com/Academic/Iceland/Iceland.html, Leeson, One More Time With Feeling http://www.peterleeson.com/One_More_Time_with_Feeling.pdf Week 13 April 3 (W) and April 5 (F) Topic: Signaling and Reputation Sub-Topics: Pirates Again: Skull and Cross Bones, Walking the Plank Readings: IH Chapters 4 and 5 Week 14 April 10 (W) and April 12 (F) Topic: Thats Not What I Would Have Thought! Sub-Topics: Cursing Monks, Well Paid and Not Conscripted Pirates, and Well Behaved Hooligans Readings: IH Chapters 6 and 7, and Leeson, Smith, and Snow, Hooligans http://nicholasasnow.com/Site/Research_files/Hooligans.pdf Week 15 April 17 (W) and April 19 (F) Topic: Rational Choice and Trickery? Sub-Topics: Human Sacrifice and Animal Trials (oh my!) Readings: NONE! Final Papers Due: April 25th by 5pm (see above section on final research paper for more details) Student Services Information: Code of Student Conduct: www.studentaffairs.osu.edu/resource_csc.asp

Code of Student Conduct: ACADEMIC INTEGRITY (ACADEMIC MISCONDUCT) Academic integrity is essential to maintaining an environment that fosters excellence in teaching, research, and other educational and scholarly activities. Thus, The Ohio State University and the Committee on Academic Misconduct (COAM) expect that all students have read and understand the Universitys Code of Student Conduct, and that all students will complete all academic and scholarly assignments with fairness and honesty. Students must recognize that failure to follow the rules and guidelines established in the Universitys Code of Student Conduct and this syllabus may constitute Academic Misconduct. The Ohio State Universitys Code of Student Conduct (Section 3335-23-04) defines academic misconduct as: Any activity that tends to compromise the academic integrity of the University, or subvert the educational process. Examples of academic misconduct include (but are not limited to) plagiarism, collusion (unauthorized collaboration), copying the work of another student, and possession of unauthorized materials during an examination. Ignorance of the Universitys Code of Student Conduct is never considered an excuse for academic misconduct, so I recommend that you review the Code of Student Conduct and, specifically, the sections dealing with academic misconduct. If I suspect that a student has committed academic misconduct in this course, I am obligated by University Rules to report my suspicions to the Committee on Academic Misconduct. If COAM determines that you have violated the Universitys Code of Student Conduct (i.e., committed academic misconduct), the sanctions for the misconduct could include a failing grade in this course and suspension or dismissal from the University. If you have any questions about the above policy or what constitutes academic misconduct in this course, please contact me. Other sources of information on academic misconduct (integrity) to which you can refer include: The Committee on Academic Misconduct: www.oaa.osu.edu/coam/home.html Ten Suggestions for Preserving Academic Integrity: www.oaa.osu.edu/coam/ten-suggestions.html Eight Cardinal Rules of Academic Integrity: www.northwestern.edu/uacc/8cards.html Students with Disabilities Contact Information:

Any student who feels she/ he may need accommodation based on the impact of a disability should contact the instructor privately to discuss your specific needs. Please contact the Office for Disability Services at 614/ 292-3307 in 150 Pomerene Hall to coordinate reasonable accommodations for students with documented disabilities.