ECONOMICS 151: PRINCIPLES OF MICROECONOMICS

COURSE OBJECTIVES AND 
OTHER PRELIMINARY INFORMATION

 

Week 1: Introduction to Economics


 

Monday, January 22

 In class:  New Topics--What is Economics?
  Learning Economics in a Wireless High-Tech Environment
Out of class:  Read Ch. 1, 1A, 2
  Prepare For-Discussion Questions: p. 17-18, 35-36
  E-journal 1
 

Optional: Session with Economics Paraprof (David Preston) on using Excel at 2:30 

 

Tuesday, January 23

In class: New Topic--The Production Possibilities Model
  Graphing Quiz
  Go over For-Discussion Questions: p. 17-18, 35-36
  Text Web Site Online Exercises for Ch. 1, 2
  Use Excel to answer Problems 1-3, p. 58
Out of class: Prepare For-Discussion Questions: p. 57-58
  E-journal 2
  Read Ch. 3

 

Wednesday, January 24

 

In class: New Topic--Demand and Supply
  Go over For-Discussion Questions: p. 17-18, 35-36
  Text Web Site Online Exercises for Ch. 3
  Use Excel to answer Problems 1-4, p. 82
Out of class:

Print problem sets: Demand Functions and Demand Curves; Supply Functions and Supply Curves; Labor Markets 

  Prepare For-Discussion Questions: p. 80-82
  Read Ch. 4

                                   

Thursday, January 25

In class:  New Topic--Applications of Demand and Supply
  Go over For-Discussion Questions, p. 80-82
  Text Web Site Online Exercises for Ch. 4
 

Work on problem sets: Demand Functions and Demand Curves; Supply Functions and Supply Curves; Labor Markets                                

  Use Excel to answer Problems 1-4, p. 100 
 Out of class: Prepare For-Discussion Questions, p.99-100
  Prepare for Exam 1

           

Friday, January 26

In class:  Go over For-Discussion Questions, p. 99-100
  Review
  Exam 1
Out of class: Paper 
  Read Ch. 5

 

Week 2: Basic Tools of Microeconomics


Monday, January 29

In class: New Topic--Elasticity
  Text Web Site Online Exercises for Ch. 5
  Use Excel to answer Problems 4-5, p. 122
Out of class: Prepare For-Discussion Questions, p. 121-122
  Print problem set: Elasticity of Demand 
  E-journal 3
  Read Ch. 6

                   

 Tuesday, January 30

      

In class: New Topics--Maximizing Behavior and Efficiency; Market Failure
  Go over For-Discussion Questions, p. 121-122
  Text Web Site Online Exercises for Ch. 6
  Work on problem set: Elasticity of Demand 
  Use Excel to answer Problems 1-3, p. 143
Out of class: Prepare For-Discussion Questions, p. 142-143
  Read Ch. 7, p. 145-156
   

                                                

Wednesday, January 31

 

In class: Mid-course nourishment: Breakfast at Libby's
  New Topic--Consumer Choice
  Go over For-Discussion Questions, p. 142-143
  Text Web Site Online Exercises for Ch. 7
Out of class: Prepare For-Discussion Questions 1-6 and Problems 1-3,  p. 164
  E-journal 4
  Read Ch. 8
  Print problem set: Total, Average, and Marginal Costs 

Thursday, February 1

In class: New Topic--Production and Cost
  Go over For-Discussion Questions 1-6 and Problems 1-3,  p. 164
  Text Web Site Online Exercises for Ch. 8
  Work on problem set: Total, Average, and Marginal Costs 
Out of class: Prepare For-Discussion Questions, p. 182-183
  Prepare for Exam 2

 

Friday, February 2

In class: Go over For-Discussion Questions, p. 182-183
  Review
  Exam 2
Out of class: Read Ch. 9

                 

Week 3: Product and Factor Markets


Monday, February 5

In class: New Topic--Perfect Competition
  Text Web Site Online Exercises for Ch. 9
  Use Excel to answer Problems 1-2, p. 205-206
Out of class: Prepare For-Discussion Questions, p. 204-205
  Print problem set: More Profit Maximization for the Competitive Firm
  Read Ch. 10 and Ch. 16

Tuesday, February 6

In class: New Topic--Monopoly and Antitrust Policy
  Work on problem set: More Profit Maximization for the Competitive Firm
  Go over For-Discussion Questions, p. 204-205
  Text Web Site Online Exercises for Ch. 10 and 16
  Use Excel to answer Problems 1-3, p. 223 and Problems 1-4, p. 335
Out of class: Prepare For-Discussion Questions, p. 222 and p. 334-335
  Print problem set: Monopoly
  Read Ch. 11

  Wednesday, February 7                                            

In class: New Topic--Oligopoly and Monopolistic Competition
  Go over For-Discussion Questions, p. 222 and p. 334-335
  Text Web Site Online Exercises for Ch. 11
Out of class: Prepare For-Discussion Questions and Problems, p. 240-241
  Read Ch. 12 and Ch. 19 (p. 382-387 only)
  Begin work on Project

Thursday, February 8

In class: New Topics--Labor Markets
Go over For-Discussion Questions and Problems, p. 240-241
Text Web Site Online Exercises for Ch. 12
Use Excel to answer Problem 1, p. 261 
Out of class: Prepare For-Discussion Questions, p. 260-261
E-journal 5
Read Ch. 13 

Friday, February 9

In class: New Topic--Markets for Capital and Natural Resources
  Go over For-Discussion Questions, p. 260-261
  Text Web Site Online Exercises for Ch. 13
Out of class: Prepare For Discussion-Questions and Problems, p. 280-282
  Read Ch. 15
  Finish Paper 2

Week 4: Other Issues in Microeconomics


Monday, February 12

In class: New Topic--Public Finance and Public Choice
  Text Web Site Online Exercises for Ch. 15
  Use Excel to answer Problem 1-2, p. 319
  Project Presentations
Out of class: Prepare For-Discussion Questions, p. 318-319
  Read Ch. 17

Tuesday, February 13

In class: New Topic--International Trade
  Go over For-Discussion Questions, p. 318-319
  Go over For-Discussion Questions and Problems, p. 351-352
  Text Web Site Online Exercises for Ch. 17
  Project Presentations
Out of class: Study for Final Examination

Wednesday, February 14

In class: Final Examination