Principles of Economics: Microeconomics

Summer 2017


Lectures :

Introduction (Monday 06/05/2017)

Initial Concepts (Tuesday 06/06/2017)

PPF and Gains from Trade (Wednesday 06/07/2017)

Supply and Demand (Thursday 06/08/2017)

Price and Quantity Controls in S/D (Monday 06/12/2017)

Taxes and Elasticity (Tuesday 06/13/2017)

Welfare Analysis (Wednesday 06/14/2017)

Market Efficiency (Thursday 06/15/2017)

Dynamic Competition I (Monday 06/19/2017)

Dynamic Competition II (Tuesday 06/20/2017)

Monopoly & Monopsony (Wednesday 06/21/2017)

Monopolistic Competition (Thursday 06/22/2017)

•Midterm (Monday 06/26/2017)

Game Theory (Tuesday 06/27/2017)

Externalities (Wednesday 06/28/2017)

Pollution and Public Goods (Thursday 06/29/2017)

• Behavioral (Monday 07/03/2017)

• Independence Day - Holiday (Tuesday 07/04/2017)

• Review (Wednesday 07/05/2017)

Solutions to Lecture Questions

This course first develops simple graphical and mathematical models of decision-making by individual economic agents: consumers, workers, and businesses. We analyze interactions between these agents in product and factor markets using concepts of market demand, supply, and equilibrium. Finally, we demonstrate the efficiency of perfectly competitive markets, describe the conditions under which that efficiency arises, and examine market failures that occur when those conditions are not met.

Problem Sets:

Problem Set 1 - Solutions

Problem Set 2- Solutions

Problem Set 3- Solutions

Problem Set 4- Solutions

Problem Set 5- Solutions

Problem Set 6- Solutions

Problem Set 7- Solutions

Problem Set 8- Solutions

Exams :

  • Midterm
  • Final

Previous Teaching Evaluations :