Summer Session I, 2018
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July 26, 2018: Monopolies and price discrimination
July 19, 2018: Continuation of Cost functions and Perfect Competition
July 12, 2018:
Lesson plans
- Consumer and Producer Surplus, Deadweight Loss, Taxes, and Price Floors/Ceilings
- Cost functions, Production, and Diminishing Marginal Products
July 5, 2018:
Lesson plans
- Price Elasticity, Income Elasticity, Complements, Substitutes, Normal and Inferior Goods
- Diminishing Marginal Value, Demand and Supply (continuation from last week)
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June 28, 2018:
Three lesson plans
- Diminishing Marginal Value, Demand and Supply (please ignore the date written on the first page)
- Opportunity Cost, Comparative and Absolute Advantage
- Graphing preliminaries and the Production Possibilities Frontier (PPF) (the last page has a more challenging PPF question for you to try!)
Extra practice
- Equilibrium and Changes in Supply and Demand: Practice Questions and Answers
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Spring 2018:
May 30: Efficiency, Externalities, and the Coase Theorem
- Also see this clarifying document. Note you could also add solution (iii) Give the subsidy entirely to consumers. See if you can figure out how this would look on a graph.
May 16 & May 23: Lesson plans not posted
May 9: Monopolies and price discrimination (please don't worry about the unfamiliar concepts which appear on the final page)
May 2: The Competitive Firm (and Market Supply)
April 25: Cost functions, Production, and Diminishing Marginal Products
See, also (from last week): Consumer and Producer Surplus, Deadweight Loss, Taxes, and Price Floors/Ceilings
EXTRA PRACTICE PROBLEMS FOR MIDTERM 2 (graphing supply and demand, and adding taxes):
I will grade PRACTICE PROBLEMS 2 for you if you bring them, completed, to my office hours:
- Practice Problems 1 (with answer key attached)
April 18: Consumer and Producer Surplus, Deadweight Loss, Taxes, and Price Floors/Ceilings
Price Elasticity, Income Elasticity, Complements, Substitutes, Normal and Inferior Goods
April 11: Supply & Demand, Equilibrium
Opportunity Cost, Comparative Advantage, Absolute Advantage
Production Possibilities Frontier
* Also worth looking at: Price Elasticity, Income Elasticity, Complements, Substitutes, Normal and Inferior Goods
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Previous UCD ECN 1A Classes:
Spring 2017:
June 7:
I've posted some old Final exams from a similar course I used to teach at Simon Fraser University in Canada. I've indicated the questions I think you should be able to complete and included the answer keys.
- 2011 Final Exam (SFU) - I suggest doing questions 3, 5, 7, and 10
- Another old Final (SFU) - I suggest doing 3, 4, 7 ,9, 11, 12, 13, 14, and 15
June 7: Monopolies and price discrimination
June 7: The Competitive Firm (and Market Supply)
May 31: Cost functions, Production, and Diminishing Marginal Products
May 24: Efficiency, Externalities, and the Coase Theorem
- Also see this clarifying document. Note you could also add solution (iii) Give the subsidy entirely to consumers. See if you can figure out how this would look on a graph.
Practice questions--I will grade PRACTICE PROBLEMS 2 for you if you bring them, completed, to my office hours:
- Practice Problems 1 (with answer key attached)
May 17: Consumer and Producer Surplus, Deadweight Loss, Taxes, and Price Floors/Ceilings
Practice Questions: Here is the first chapter of my undergraduate textbook from when I was a student in Principles of Microeconomics. There are numerous questions at the end for you to try. Feel free to come by my office hours and we can go over the answers together
Revised, May 3: Supply and Demand practice
May 10: Price Elasticity, Income Elasticity, Complements, Substitutes, Normal and Inferior Goods
April 26: Diminishing Marginal Value, Demand and Supply
(Please ignore the date written on the first page)
April 19: Opportunity Cost, Comparative and Absolute Advantage
April 12: Graphing preliminaries and the Production Possibilities Frontier (PPF)
- The last page of this lesson plan has a more challenging PPF question for you to try.
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Winter 2017:
March 14: Monopolies and price discrimination
March 14: The Competitive Firm (and Market Supply)
March 7: Cost functions, Production, and Diminishing Marginal Products
February 28: Efficiency, Externalities, and the Coase Theorem
- Also see this clarifying document. Note you could also add solution (iii) Give the subsidy entirely to consumers. See if you can figure out how this would look on a graph.
Practice questions--I will grade PRACTICE PROBLEMS 2 for you if you bring them, completed, to my office hours:
- Practice Problems 1 (with answer key attached)
February 21: Consumer and Producer Surplus, Deadweight Loss, Taxes, and Price Floors/Ceilings
February 7: Price Elasticity, Income Elasticity, Complements, Substitutes, Normal and Inferior Goods
January 31: Diminishing Marginal Value, Demand and Supply
(Please ignore the date written on the first page)
January 24: Opportunity Cost, Comparative Advantage, etc.
January 17: PPF and Graphing Preliminaries
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Fall 2016:
November 29, 2016 - The Competitive Firm (and Market Supply)
November 22, 2016 - Cost Functions (and diminishing marginal products)
November 1, 2016 - MT 2 Review Questions and Answer Key
October 25, 2016 - Consumer and Producer Surplus, Deadweight Loss, and Taxes
October 18, 2016 - Elasticities
October 11, 2016 - Equilibrium and Changes in Supply and Demand: Practice Questions and Answers
October 4, 2016 - Diminishing Marginal Value, Supply and Demand
September 27, 2016 - Graphing preliminaries (PPF)
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Spring 2016:
MAY 25 - Pricing Strategy and Arbitrage
MAY 18 - Game theory. Monopoly practice. I've uploaded an old lesson plan on game theory. The bottom half of the first page can be ignored and replaced by this. I was unable to compile them properly. Apologies.
MAY 11 - Monopolistic Competition
MAY 4 - I'm linking to two old lesson plans that I will use. Please ignore the chapter numbers referenced as they relate to a different textbook:
- Diminishing marginal products and cost functions
- The competitive firm and market supply
APRIL 27 - Midterm Review and Detailed Answers to Difficult Questions
APRIL 20 !! There is a mistake on the final page. It should say that P1 INcreases to P1'!! - Marginal Utility, Indifference Curves, and the Budget Constraint
APRIL 13 - Substitution Effect, Income Effect, Substitutes, Complements,
Normal and Inferior Goods, Elasticities of Demand, Answers to Selected HW Questions
APRIL 6 - Models, Demand Functions, Answers to Selected HW Questions