Introduction to Microeconomics (202-0-20)

Instructors

Chiara Sotis

Meeting Info

Fisk Hall 217: Tues, Thurs 3:30PM - 4:50PM

Overview of class

This is an introductory course that covers the fundamentals of microeconomics. We will study the behaviour of individuals and firms in a world of limited resources, and the interactions between the two in many different markets. With an emphasis on economic principles, students will be introduced to core terminology and modes of analysis for studying the production and distribution of goods and services in the economy. An overarching goal is to gain insight into how, when, and why markets fail or succeed. Specific topics include supply and demand, market equilibrium, elasticity, costs of production, different degrees of competition (including perfect competition and monopoly), and government interventions (price controls, taxes). You will get started thinking about the three fundamental questions in economics: (i) what goods and services should be produced?, (ii) how do we produce those goods and services?, and (iii) who gets those goods and services? This course is aimed at potential economics majors and students who are curious about having a better understanding of the popular press, or analyzing and comparing different government policies.

Registration Requirements

Basic algebra and graphing. Instructor Note: You should be well acquainted with and have confidence applying high-school algebra tools (graphs, equations, tables, inequalities, roots and exponents).

Learning Objectives

The goal of this course is to give the students an introduction into the tools and skills that economists use, as well as an understanding of economic concepts related to: (i) Consumer behavior; (ii) Firm behavior; (ii) Government interventions

Teaching Method

"Lecture: Two/week
Discussion section: One/week

Other (see below):
A typical week features 2 80-minute lectures + discussion section"

Evaluation Method

Students are evaluated on 2 midterms, a final and weekly problem sets (10%)

Class Materials (Required)

NONE

Class Materials (Suggested)

NONE

Class Notes

Students are welcome to email me in advance if they have doubts on when/if to take the course.

Class Attributes

Social and Behavioral Science Foundational Discipl

Enrollment Requirements

Enrollment Requirements: Reserved for Economics Majors & Minors until the end of preregistration, after which time enrollment will be open to everyone who has taken the prerequisites. Students who have taken or are taking ECON 310-1 or MMSS 211-1 are not allowed to enroll in this course.

Associated Classes

DIS - 2122 Sheridan Rd Classroom 250: Mon 4:00PM - 4:50PM

DIS - Kresge Centennial Hall 2-415: Wed 4:00PM - 4:50PM

DIS - Technological Institute L361: Mon 5:00PM - 5:50PM

DIS - Tech Institute Lecture Room 2: Wed 5:00PM - 5:50PM

DIS - Harris Hall 107: Mon 4:00PM - 4:50PM

DIS - Swift Hall 107: Wed 4:00PM - 4:50PM

DIS - Technological Institute LG52: Mon 5:00PM - 5:50PM

DIS - Technological Institute L211: Wed 5:00PM - 5:50PM