ECON 101: Principles Of Microeconomics
This course introduces the students to the fundamentals of microeconomics. We will start with an introduction to the principles of economics, supply and demand as well as the economic forces that determine an equilibrium in a given market. Next, we will analyze the behaviors of consumers and producers. We will examine specific topics that can be analyzed using microeconomic theory. These include the cost and design of taxation, the international trade, externalities and public goods. The final section of the course will provide an introduction to the different markets structures and their impact on firms’ behavior.
By the end of this course, students will be able to understand, explain and use the basic concepts of microeconomic theory.
Office Hours: By appointment.
Lectures: Monday and Thursday 8:30 AM to 12:00 PM; Room: ART 202
Syllabus
Required Course Materials:
1. Aplia access card
2. N. Gregory Mankiw et al., Principles Of Microeconomics (6th Canadian Edition), Nelson, Thomson Canada 2014.
Aplia Getting Started Guide
Grades
First Midterm Test
Second Midterm Test
Class Attendance
Instructions for Exams and Solutions
Midterm_Test_1_ECON_101_Instructions
Midterm Test 1 Solution Key
Midterm_Test_2_ECON_101_Instructions
Midterm_Test_2_Solution_Key
Final_Exam_ECON_101_Instructions
Course Outline And Readings
- Topic 1: Principles of Microeconomics
Readings: Textbook Ch.1
- Topic 2: Thinking Like An Economist
Readings: Textbook Ch.2
Exercises on Chapter 2
Solutions to Exercises on Chapter 2
- Topic 3: Interdependence And Gains From Trade
Readings: Textbook Ch.3
- Topic 4: Market Forces Of Supply And Demand Part I
Market Forces Of Supply And Demand Part II
Readings: Textbook Ch.4
- Topic 5: Elasticity and its Application
Readings: Textbook Ch.5
- Topic 6: Supply, Demand and Government Policies
Readings: Textbook Ch.6
- Topic 7: Consumers, Producers and the Efficiency of Markets
Readings: Textbook Ch.7
- Topic 8: The cost of Taxation
Readings: Textbook Ch.8
Exercises on Chapters 7 and 8
Solutions to Exercises on Chapters 7 and 8
- Topic 9: InternationalTrade
Readings: Textbook Ch.9
- Topic 10: Externalities
Readings: Textbook Ch.10
- Topic 11: Public Goods and Common Resources
Readings: Textbook Ch.11
- Topic 12: The Design of the Tax System
Readings: Textbook Ch.12
- Topic 13: The Cost of Production
Readings: Textbook Ch.13
- Topic 14: Firms in Competitive Markets
Readings: Textbook Ch.14
- Topic 15: Monopoly
Readings: Textbook Ch.15