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)

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 

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

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

June 11

Chapter 10: Organizing Production

TEXT: Chapters 10

 

Chapter 10 Lecture - Organizing Production     (PPT)     PRESENT VALUE

 

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

 

Quiz 2 (June 13)

June 16

Chapter 12: Perfect Competition

TEXT: Chapter 12

 

Chapter 12 Lecture - Perfect Competition

 

Problem Set 7 (No need to be handed it – good practice and yes, you will get 1 point credit)

June 17

Recitation and Review for Exam

 

June 18

Exam 2

 

June 19

Chapter 13: Monopoly

TEXT: Chapter 13

 

CHAPTER 13 LECTURE – MONOPOLY

 

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 

 

CHAPTER 15 LECTURE - OLIGOPOLY    

 

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 ECONOMICS OF THE ENVIRONMENT  

  

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    

 

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