Economics 103 - Principles of
Microeconomics
Fall 2009
Office hours:
Tues. 5:30-6:30 Room 5191
Dr. J. Friesen
778 782 3403
Description:
In
modern societies the market economy allocates productive resources to
industries and consumption commodities to individuals. In this process wealth
is created and distributed across a population. Microeconomics has been
designed as an attempt to understand this fundamental process. The course will
focus on core microeconomic concepts: individual choice; feasibility and
opportunity cost; marginal analysis; competition; demand and supply; and the
exploitation of gains from trade in the market. These concepts will not only be
explained but they will be used to help students understand issues which
confront us in today’s world.
Required
Microeceonomics: Canada in the Global Economy, Parkin and Bade, 6th Edition,
2006
Study Guide to Accompany Microeceonomics: Canada in the Global Economy, Cohen and King, 6th Edition, 2006
Grading:
2 Midterms: 25% each
Final: 50%
Midterms will be held on October
13 and November 17
Each midterm will last 1.5
hours and will be followed by a 1 hour lecture.
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Readings
Introduction
Chapter
1 What is Economics
Chapter
2 The Economic Problem
Chapter
3 Demand and Supply
Chapter
4 Elasticity
Chapter
5 Efficiency and Equity
Chapter
6 Government Actions in Markets
Chapter
7 Global Actions in Markets
Chapter
9 Possibilities, Preference and Choices
Chapter
10 Organizing Production
Chapter
11 Output and Costs
Chapter
12 Perfect Competition
Chapter
13 Monopoly
Market Failure and Government
Chapter
16 Externalities
Chapter 17 Public Goods and Common Resources