Principles of Microeconomics (EC-101-I)

Tues/Thurs 10:00am-11:15am, Sawyer 1125

FINAL EXAM Thursday April 30 1:00pm-2:50pm

 

Dr. Benjamin Powell

Department of Economics

1 Bowdoin Sq. (6th Floor)

bpowell@suffolk.edu (best way to reach me)

617-573-8023

Office Hours: Tues and Thurs 2-3:30pm or by appointment

 

My goal for you in this course is to help you begin to “think like an economist.”  Economic theory provides a set of glasses which we can use to analyze problems in business, public policy and everyday life.  Economics is the study of choice under conditions of scarcity.  Economics is not just about stock markets or business, though it includes them.  There is an economic way of analyzing just about all aspects of life, from stock markets to sports to marriage and everything in between.  The great economic problem is how to arrange our limited resources to satisfy as many of our infinite wants as possible without leaving higher valued wants unsatisfied.  In this course you will be introduced to the general principles of microeconomics and the tools economists use to analyze the world.

 

 

Book:

 

Economics 8th edition by Michael Parkin

 

Grading:

 

Quizzes                        20% (10% each)

Exam 1 & 2                  50% (25% each)

Final Exam                   30%

 

Your final exam will be comprehensive.            

 

Academic Integrity

Any student caught cheating on an exam or plagiarizing will receive a grade of “0” on the assignment.  I also reserve the right to report the offending student to the Dean of Students.  Consult your student handbook for further information.

 

 

 

 

 

 

 

 

Tentative Schedule

 

Date                                         Topic                                                   Readings

 

Jan. 13 & 15                            Intro                                                     Ch. 1               

                                                The Economic Problem             Ch. 2

 

Jan. 20 & 22                            Demand and Supply                             Ch. 3   

 

Jan. 27 & 29                            D&S Cont.

                                                                                   

Feb. 3 & 5                               Elasticity and Quiz                                Ch. 4

                                                                                                            Quiz

 

Feb. 10 & 12                           Elasticity Cont.                         Ch. 4

 

Feb. 17 & 19                           Markets in Action                                 Ch. 6

 

Feb. 24 & 26                           EXAM 1 Feb 24th                              

                                                Thurs – Efficiency & Equity                   Ch. 5

                                               

March 3 & 5                            Utility and Demand                               Ch. 7

 

March 10 & 12                        Organizing Production               Ch. 9

                                                                                                            Quiz March 12th

Spring Break

 

March 24 & 26                        Output and Costs                                 Ch.10

                                                                                                             

 

Mar. 31 & Apr. 2                     Perfect Competition                              Ch. 11 

 

April 7 & 9                               EXAM 2 April 7th                  

                                                Thurs – begin Monopoly                       Ch. 12

 

April 14 & 16                           Monopoly & Oligopoly             Ch. 12 & 13

 

April 21 & 23                           Regulation and Anti-Trust                     Ch. 14

                                               

April 30th Thursday 1:00-2:50pm Final Exam Sawyer Room 1125.