ECON-001 Principles of Microeconomics

(Readings should be completed prior to lecture)

DATES

TOPICS

READING AND ASSIGNMENTS       Grading Scale

May

19

Chapter 1: What is Economics

TEXT:  Chapter 1 and Appendix to Chapter 1

 

Chapter 1 Appendix: Graphing Data (No need to download)

 

Problem Set 1 (Due in class on May 20, 2019)

May

20

Chapter 2: The Economic Problem

TEXT:  Chapter 2 

 

Discussion of Problem Set 1 (if necessary)

May

21

Chapter 3: Demand and Supply

TEXT:  Chapter 3

 

Deriving the Demand and Supply Curves    Supply and Demand Problems   (Just for Fun)     Graphs for Practice     (WORD)

 

Problem Set 2 (Due in class on May 22, 2019)     Demand and Supply Example

May

22

Chapter 4: Elasticity

TEXT: Chapter 4

 

ELASTICITY AND TOTAL REVENUE

 

Problem Set 3 (Due in class on May 27, 2019)

May

23

Catching up Time and Recitation

Recitation and Discussion of Problem Set 2

 

Quiz 1

May

26

Chapter 5: Efficiency and Equity

TEXT: Chapter 5 

 

CHAPTER 5 LECTURE- EFFICIENCY AND EQUITY     (PPT)

 

PROBLEM SET 4 (Not required to be handed in, but will be discussed in recitation on May 28, 2019)

May

27

Chapter 5: Government Actions

in Markets

TEXT: Chapter 6

CHAPTER 6 LECTURE- GOVERNMENT MARKETS IN ACTION     (PPT)

May

28

Recitation and

Review for Exam

 

May

29

Exam 1

 

May

30

Chapter 8: Utility and Demand

Chapter 9: Possibilities, Preference

and Choices

TEXT: Chapters 8 and 9

 

Utility and Demand,  Possibilities, Preference and Choices

 

PROBLEM SET 5 (Due in class on June 11, 2019)

June

9 and 10

Chapter 9: Possibilities, Preference

and Choices

TEXT: Chapters and 9

 

Handout on Chapter 9:  Price Effect – Income and Substitution Effects

 

INCOME AND SUBSTITUTION EFFECTS  (No need to download)   UTIILIZING INDIFFERENCE CURVE ANALYSIS     (PPT)

June 11

Chapter 10: Organizing Production

TEXT: Chapters 10

 

Chapter 10 Lecture - Organizing Production     (PPT)     PRESENT VALUE     UNDERSTANDING BONDS     (PPT)

 

Problem Set 6 (Due in class on June 16, 2019)

June

12 and 13

Chapter 11: Output and Costs

TEXT: Chapter 11

 

CHAPTER 11 LECTURE – PRODUCTION, OUTPUT AND COSTS     Isoquants and Isocost CuRVES

 

Problem Set 7 (Due in class on June 17, 2019 for recitation. No need to be handed it – good practice and yes, you will get 1 point credit)

 

Quiz 2 (June 13)

June 16

TEXT: Chapter 12

 

 

 

June 17

Recitation and Review for Exam

 

June 18

Exam 2

 

June 19

Chapter 12: Perfect Competition Chapter 13: Monopoly

TEXT: Chapter 13

 

Chapter 12 Lecture - Perfect Competition     (PPT)

 

CHAPTER 13 LECTURE – MONOPOLY     (PPT)

 

Problem Set 8 (Due in class June 23, 2019)

June 20

Chapters 14 and 15: Monopolistic Competition and Oligopoly

 

TEXT: Chapters 14 and 15

 

CHAPTER 14 LECTURE- MONOPOLISTIC COMPETITION     (PPT

 

CHAPTER 15 LECTURE – OLIGOPOLY     (PPT   

 

Problem Set 9 (Due in class June 24, 2019)

June 23 and 24

Chapters 16 and 17: Public Choices, Public Goods and Economics of the Environment

TEXT: Chapters  16 and 17

 

CHAPTERS 16 AND 17 LECTURE - PUBLIC CHOICES, PUBLIC GOODS AND EXTERNALITIES     (PPT

  

PROBLEM SET 10 (Due in class June 25, 2019)

June 25

Chapter 18: Markets for Factors

of Production

 

TEXT: Chapters 18

 

CHAPTER 18 LECTURE - MARKETS FOR FACTORS OF PRODUCTION     (PPT)

 

Problem Set 11 (We will discuss in class on June 26)

June 26

Recitation and Review for Exam

Review for Exam 

June 27

Final Exam