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Economics 103

Course Outline

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.


Course Content

Topics include:

  • 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

Required Text

Lipsey, Ragan & Courant Microeconomics 9th Canadian ed., Addison Wesley, 1997


Additional Recommended Readings

Landsberg The Armchair Economist; Freidman The Hidden Order.


Course Evaluation

Take home Assignment  15%
Mid-terms (2)  20% each
Final  45%

Instructors

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)