Course Objective: A rigorous introduction to modern price theory.
Pre-requisites: Econ 101 or Math 100 or Math 110
Co-requisites: Eng 098
Hours of Instruction: Three lecture hours and one problem solving hour per week.
- Comparative statics - demand and supply, elasticity, effects of taxes, floors and ceilings
- Utility functions - indifference curves, budget constraints, deriving demand from utility and substitution vs income effects
- Production functions- isoquants and isocosts, deriving short run and long run cost functions from production functions
- Competitive vs monopoly models
- Market failure - externalities, transactions costs, public goods, the Coase theorum and government failure
Lipsey, Ragan & Courant Microeconomics 9th Canadian ed., Addison Wesley, 1997
Additional Recommended Readings
Landsberg The Armchair Economist; Freidman The Hidden Order.
|Take home Assignment||15%|
|Mid-terms (2)||20% each|
Stéphane Deseau, M.Econ. (Maine, France), M.Sc. (Quebec)
Cheryl Fu, B.A. (Beijing), M.A. (Simon Fraser), Ph.D. candidate
Paul Geddes, B.A. (Claremont), M.A. (Carleton)
Fatin Jallad, B.A., B.Sc. (Portland), M.Sc. (New Mexico), M.Sc. (Arizona)
Susana Leung, B.B.A., M.A. (Simon Fraser)