PRINCIPLES OF MICROECONOMICS  

TODD R. YARBROUGH, PHD

Spring 2017 UPDATED office hours: Wednesday - 10AM-12PM and Friday - 1-4PM, or by appointment 

LECTURE 1 - Math Primer and Economic Thinking 

 -- Reading: Thinking Like an Economist

 -- Reading: How Are Sumo Wrestlers Like School Teachers? 

LECTURE 2 - Human Satisfaction 

-- Reading: Consumer Choice Chpt. from Cowen Text 

-- Lecture Video: Utility Maximization 

LECTURE 3 - Market Demand

 -- Reading: Demand and Supply

LECTURE 4 - Profit Realization and Supply

-- Reading: Profits

 -- Reading: The Fallacy of Supply and Demand

 -- Viewing: Watch Moneyball

LECTURE 5 - Equilibrium and Review

 -- Reading: Mankiw's Supply/Demand

 -- Lecture Video: Supply/Demand Shifters

Problem Set 1[SOLUTIONS]

Exam 1

______________________________________

______________________________________

LECTURE 6 - Invisible Hand and Price Controls

 -- Reading: Price Controls

LECTURE 7 - Taxes

 -- Reading: Taxes/Subsidies

 -- Lecture Video: Elasticities

LECTURE 8 - Externalities

 -- Reading: How Economist See the Environment

 -- Reading: Externalities and Environmental Protection

 -- Movie: Erin Brockovich Discussion Podcast

 -- Example: Negative Externality and a Pigovian Tax

LECTURE 9 -- Information Asymmetries

 -- Reading: Mankiw on Info Asymmetry

 -- Reading: Cowen on Adverse Selection and Health Insurance

 -- Movie: The Big Short Discussion Podcast

Problem Set 2[SOLUTIONS]

Exam 2 (APRIL 6th!)

___________________________________________

___________________________________________

Lecture 10 - Competitive Markets Slides 1 and Slides 2

 -- Lecture Video: Perfect Competition

 -- Readings: OpenStax on Costs and Competition

Lecture 11 - Monopoly

-- Lecture Video: Comp. in the Long Run and Monopolies Intro

-- Reading: OpenStax on Monopolies and Regulations

Lecture 11 - Imperfect Markets Slides 1 and Slides 2

-- Lecture Video: Markets and Efficiency 

Lecture 12 - Public Goods

-- Reading: OpenStax on Public Goods

Problem Set #3[SOLUTIONS]

 

Current Syllabus - Spring 2017