EC1100+-+Microeconomics

EC1110 - Microeconomics Fall 2015 = = =The Microeconomics Course= Microeconomics exams the choices that we, and business make in order to maximize our benefits will minimizing our expenditures. Microeconomics will enhance your understanding of the economic institutions and the environment under a market system of exchange and the response made to decisions arrived at by individuals, businesses, and governments. Specifically, the course examines business organizations and why the attitudes of buyers and sellers determine the prices, quantities, and distribution of the output of goods and services. = = = Topics We’ll Be Covering in Microeconomics = 1.0 General Introduction to Economics 1.1 The Economic Problem 1.2 Supply and Demand 2.0 Price Theory 2.1 Elasticity 2.2 Consumer Demand 2.3 Short Run Costs 2.4 Long Run Costs 3.0 Market Structures 3.1 Perfect Competition 3.2 Monopoly 3.3 Imperfect Competition

=Resources You Will Be Using in Microeconomics=
 * Text: Principles of Micro-Economics, Sayre and Morris 7th Edition McGraw Hill Ryerson (the questions for the assignments will be drawn from the 7th edition of the text)


 * Course website: http://paultilley.wikispaces.com/


 * Course Facebook Site: Search/Like: Paul Tilley's Microeconomics

=How You Will Be Evaluated in Microeconomics=

Assignment 1 Due on Friday, September 26. || 5 ||  || Chapter 1 – The Economic Problem Page 27 - # 36;
 * **Evaluation Item** || **Weight** || **Grade Achieved** || **Detail (Complete details of each project/test will be discussed/distributed in class)** ||
 * Discussion Participation || 5 ||  || You will be evaluated on your class attendance and involvement in the class discussion. ||
 * Hand In Assignment 1

Chapter 2 – Demand and Supply - Theory Page 64- #36 & #38;

Chapter 3 – Demand and Supply - Practice Page 99- # 36 || Assignment 2 Due on Friday, October 17 || 5 ||  || Chapter 4 - Elasticity Page 136- #36,
 * Hand In Assignment 2

Chapter 5 – Consumer Demand Page 165- #36 || Week of October 27 || 30 ||  || You will be tested on material covered in the first 5 chapters of the text in the course. The test will be one hour in duration, and be 70% Multiple Choice and 30% Short Answer questions. || Assignment 3 Due on Friday, November 7. || 5 ||  || Chapter 6 - The Short Run Page 204/205 - #36 & #38
 * Midterm
 * Hand In Assignment 3

Chapter 7 - The Long Run Page 226 - #36 || Assignment 4 Due on Friday. November 21 || 5 ||  || Chapter 8 – Perfect Competition Page 263 - #36
 * Hand In Assignment 4

Chapter 9 – Evaluation of Competitive Markets Page 295 – #36

Chapter 10 - Monopoly Page 329 - #36

Chapter 11 – Imperfect Competition (Oligopolies and Monopolistic Competition) Page 366- #36 || During the Final Exam Period || 45 ||  || This is a comprehensive exam consisting of material from throughout the course. The test will be two hours in duration, and be 60% Multiple Choice and 40% Short Answer questions. ||
 * Final Exam
 * **Total** || **100** ||  ||   ||

[] **Course Textbook Site (with Answer key)**
 * Textbook website:**

Microeconomics facebook Site
 * Course Facebook Site**


 * Course Notes**




 * Course PowerPoint Slides**




 * Course Videoettes**
 * The First section (Units 1-5) of the course looks at economics from the consumer's point of view....**
 * **Unit 1 - Scarcity and Choice** || **Unit 1 - Resources** || **Unit 1 - Positive vs. Normative** ||
 * media type="youtube" key="yoVc_S_gd_0" height="154" width="204" || media type="youtube" key="0PgP0dXAGAE" height="156" width="193" || media type="youtube" key="AV_p_QntywA" height="160" width="197" ||
 * **Unit 1 - Production** **Possibilities** || **Unit 1 - Prod. Poss. with Change** || **Unit 1 - Opportunity Cost** ||

media type="youtube" key="JCEWQ_cafUs" height="157" width="210" || media type="youtube" key="6LIuLAu-KNs" height="189" width="216" || media type="custom" key="23939590" ||
 * **Unit 2 - Demand and Supply** || **Unit 2 - Change in Demand** || **Unit 2 - Supply** ||
 * media type="youtube" key="uXlZIn6W7Ew" height="163" width="218" || media type="youtube" key="aTSwcXJ700c" height="165" width="220" || media type="youtube" key="KccMcf_xOQU" height="168" width="212" ||
 * **Unit 3 -** ** Equilibrium **media type="youtube" key="W5nHpAn6FvQ?list=PL336C870BEAD3B58B" height="175" width="230" || **Unit 3 - Market Equilibrium**

media type="custom" key="23939602" || ** Unit 3 - Price Floors an **** d Price Ceilings ** media type="custom" key="23939570" width="130" height="130" ||
 * **Unit 3 - Change in Demand**

media type="custom" key="23939626" ||
 * **Unit 4 - Elasticity of Demand** ||  ||   ||
 * media type="youtube" key="4oj_lnj6pXA" height="182" width="227" ||  ||   ||


 * **Unit 5 - Consumer Demand** || **5 - Diminishing Marginal Utility** || **Unit 5 - Consumer Equilibium** ||
 * media type="youtube" key="4oj_lnj6pXA" height="175" width="230" || media type="youtube" key="KOUJEyy48qY" height="175" width="230" || media type="youtube" key="JiJlZGqZXZk" height="175" width="230" ||
 * The Section section (Units 6-10) of the course looks at economics from the producers point of view....**
 * **Unit 6 - Short Run Explicit/Implicit Costs/Opportunity Costs** || Unit 6 - || Unit 6 - Fixed and Variable costs ||
 * media type="youtube" key="FgttpKZZz7o" height="190" width="227" || media type="youtube" key="rnEFtyMzjOo" height="183" width="250" || media type="youtube" key="nQ5APwtB-ig" height="184" width="278" ||
 * Unit 6/7 Cost Curves || Unit 6/7 Cost Curves ||  ||
 * media type="youtube" key="UI-LL8-dVAs" height="203" width="290" || media type="youtube" key="oj72z5kDZwo" height="206" width="249" ||  ||
 * Unit 8 - Market Structures - Types of Competitive Markets || Unit 8 - Perfect competition || Unit 9 - Competitive Markets ||
 * media type="youtube" key="9Hxy-TuX9fs" height="241" width="291" || media type="youtube" key="61GCogalzVc" height="241" width="277" || media type="youtube" key="J_tdZZkRvbg" height="247" width="310" ||
 * Unit 10 - Monopoly ||  ||   ||
 * media type="youtube" key="7UWgKZsKZOc" height="222" width="296" ||  ||   ||
 * || Unit 11 - Imperfect Competition ||  ||
 * || Unit 11 - Imperfect Competition ||  ||