FRASER INTERNATIONAL COLLEGE

 

COURSE:	ECON 103	SEMESTER: Spring2007
TITLE:	Principles of Microeconomics	INSTRUCTOR: M. Lanyi

 

 

Description:

 

This course is designed with two main goals in mind. The primary purpose of the course is to provide a sufficient understanding of the fundamental principles of economics. This includes propositions about individual behaviour, output of firms, market structure, and the organization of economic activity. It is also the intent of this course to convince you that economics is an interesting field of study.

 

Required Text:

 

Allen, D.      "Economic Principles: Seven Ideas for Thinking…About Almost Anything."

                                      McInnes Creek Press.

 

The text is only available online at www.McInnesCreekPress.com. You can go to this site, or get it from Doug Allen’s site at www.sfu.ca/~allen. He has directions for purchasing, and advice if you have problems buying the text.

 

Additional handouts and practice problems will be distributed during the lectures as needed.

 

Grading:

 

The final grades will be based on the following weights:

 

Attendance and Participation	10 %
Assignments	15 %
Midterm Exam	30 %
Final Exam	45 %

 

A C– or better constitutes a pass in this course.

 

 

Reading List

 

Lecture 1:    Introduction.

                   Allen: Chapter 1, 2.

 

Lecture 2:    Demand Theory. 

                   Allen: Chapter 3, 4, 5

 

Lecture 3:    Exchange and Supply

                   Allen: Chapter 6

 

Lecture 4:    Market Equilibrium

                   Allen: Chapter 10

 

Lecture 5:    Applications of Supply and Demand

                   Allen: Chapter 10

 

Lecture 6:    Gains from Specialization and Comparative

                   Advantage

                   Allen: Chapter 7 pp 127–134

 

Lecture 7:    Production in the Short Run

                   Allen: Chapter 8 pp 144–152

                   Lipsey: Chapter 7 On Reserve

 

Lecture 8:    Cost in the Short Run

                   Allen: Chap. 7, pp 123–126; Chap. 8 pp152-158

                   Lipsey: Chapter 7:  On Reserve

 

Lecture 9:    Production and Cost: The Long Run

                   Lipsey: Chapter 8:  On Reserve

 

Lecture 10:   Market Structure and the Competitive Firm

                   Allen: Chapter 9

 

Lecture 11:   Monopoly and Price Searching

                   Allen: Chapter 13

 

Lecture 12:   Oligopoly and Game Theory

                   Allen: Chapter 14

 

Lecture 13:   The Organization of Markets and Institutions

                   Allen: Chapter 15, 16.