Unit 1 - An
Introduction to Economics, Efficiency, and the Market
System
Chapter 1 -
Limits, Alternatives, and Choices: What Is Economics and
What Are the 5Es?
- Reading Assignments:
- Chapter 1 Appendix on Graphing: ALL
- Chapter 1: ALL
- Online Lecture: The online lecture is VERY
IMPORTANT!
http://www.harpercollege.edu/mhealy/eco211/lectures/microch1-17.htm
- Ch. 3: "Efficient Allocation" pp. 58-59
- Ch. 3 and 6: "Diminishing Marginal Utility" pp. 49
and 117
- The Necessity of Choice -- HOW? -- Benefit Cost
Analysis
- Ch. 1: p. 5, "Marginal Analysis: Benefits and
Costs"
- Ch. 1: pp. 13-14, "Optimal Allocation"
(especially Fig 1.3),
- Ch 1: p. 14, "The Economics of War" (box)
- Ch. 7: p. 158-159, “Last Word: Don't Cry
over Sunk Costs - Sunk costs are irrelevant in
decision making”
- Ch. 5: pp. 108-109, "Society's Optimal Amount
of Externality Reduction"
- Ch. 22: p. 467, "Optimal Immigration"
- Study Guide
- Chapter 1
- Multiple Choice: # 1-4, 6, 7, 10-12, 14-24
- Problems: # 4, 5
- Chapter 1 Appendix:
- Multiple Choice: # 1, 2, 6, 11, 12 15, 16,
17
- Problems: # 1a, 1b, 2a, 4
- Chapter 5:
- Multiple Choice: # 16, 23, 24, 25
- Problem: # 5
- Worked Problems: 1.1 and 1.2 at http://highered.mcgraw-hill.com/sites/0077337735/student_view0/chapter1/worked_problems.html
- Web Quizzes
- End-of-Chapter Questions and Problems:
- Chapter 1: Question 1, 2, 5, 7-11; Problems 1, 3,
4, 5, 6, 7, 8;
- Chapter 1 Appendix: Problems # 1, 2, 7, 8
- Chapter 7: Question # 11
- Chapter 5: Question # 11
Chapter 2 -
The Market System and the 5 Es
- Reading Assignments:
- Study Guide: Chapter 2
- Multiple Choice: # 1, 2, 3, 6, 7, 9, 11, 12, 13,
19-25
- Problems: # 1, 4
- Web Quiz: Chapter 2 # 1-9 at http://highered.mcgraw-hill.com/sites/0077337735/student_view0/chapter2/quiz.html
- End-of-Chapter Questions and Problems:
- Chapter 2: Questions #1, 3, 5, 9, 10, 11, 13
Chapter 3 -
Demand, Supply, and Market Equilibrium -- and the
5Es
- Reading Assignments:
- Study Guide
- Chapter 3
- Multiple Choice: # 1-28
- Problems: # 2-6, 8
- Chapter 3 Appendix
- Multiple Choice: #1-8, 11-15
- Problems: # 1, 2
- Chapter 5
- Multiple Choice: # 1-6
- Problems: # 1, 2, 3, 4
- Worked Problem 5.1 and 5.2 at http://highered.mcgraw-hill.com/sites/0077337735/student_view0/chapter5/worked_problems.html
- Web Quizzes
- End-of-Chapter Questions and Problems:
- Chapter 3: Questions # 1-9; Problem # 2, 3, 4
- Chapter 3 Appendix: Questions # 1, 4-7; Problem: #
3
- Chapter 5 Questions #2, 3; Problems # 1, 2
Chapter 5 -
The Public Sector (Government)
- Reading Assignments:
- Chapter 3: pp 61-64, "Application: Government Set
Prices"
- Chapter 3: pp 62-63, "Last Word: A Legal Market
for Human Organs?"
- Chapter 5: pp 99-110, "Public Goods",
"Externalities" and “Government’s Role in
the Economy”
- Study Guide
- Chapter 3
- Multiple Choice: # 29, 30
- Problems: # 1, 7
- Chapter 3 Appendix
- Chapter 5
- Multiple Choice: #7-12, 17-25
- Problems: # 5-7
- Worked Problems 5.1 and 5.2 at http://highered.mcgraw-hill.com/sites/0077337735/student_view0/chapter5/worked_problems.html
- Web Quiz Chapter 5: # 1, 2, 4, 5, 6, 7 at
http://highered.mcgraw-hill.com/sites/0077337735/student_view0/chapter5/quiz.html
- End-of-Chapter Questions and Problems
- Chapter 3: Questions 11, 12; Problems # 7
- Chapter 5: Questions 1, 4, 5, 7-10, 12, 13
Unit 2 -
Elasticity, Consumer Decisions, and Costs of
Production
Chapter 4 -
Elasticity
- Reading Assignments:
- Chapter 4: pp. 75-89, Elasticity
- Chapter 4: pp 86-87, Last Word
- Chapter 16: pp 347-354, "Tax Incidence and
Efficiency Loss”
- Study Guide
- Chapter 4
- Multiple Choice: # 1-17, 19-25
- Problems: # 1-4, 6
- Chapter 16
- Multiple Choice: #14-24
- Problems: # 3, 4
- Worked Problems 4.1 and 4.2 at http://highered.mcgraw-hill.com/sites/0077337735/student_view0/chapter4/worked_problems.html
- Web Quizzes
- End-of-Chapter Questions and Problems:
- Chapter 4: Questions #ALL; Problem 1, 3, 4, 5,
7
- Chapter 16: Questions # 6, 7
Chapter 6 -
Consumer Behavior
Chapter 7
– Businesses and the Costs of Production
Unit 3 - Product Markets: Decision
Making and Efficiency
Chapters 8
and 9 - Pure Competition in the Short Run and the Long
Run
- Reading Assignments
- Chapters 8: ALL
- Chapter 9: 181-184, 186-192
- Study Guide – Chapter 8
- Multiple Choice: # 1-7, 9-20, 22-25.
- Problems: # 1-3, 4 a & c
- Study Guide – Chapter 9
- Multiple Choice: # ALL
- Problems: # 1 (ignore teh "quantity supplied
column in the table), 2
- Worked Problems 8.1, 8.2, 8.3 at http://highered.mcgraw-hill.com/sites/0077337735/student_view0/chapter8/worked_problems.html
- Web Quizzes:
- End-of-Chapter Questions and Problems:
- Chapter 8: Questions # 1-7; Problem # 4
- Chapter 9: Questions # 1, 3, 5, 6, 7, 9; Problems
# 2 (skip the last question)
Chapter 10
AND 18 - Pure Monopoly and Regulation
- Reading Assignments:
- Chapter 10: ALL
- Chapter 18: pp. ALL
- Study Guide
- Chapter 10
- Multiple Choice: # 1-4, 6-16, 18-24
- Problems: # 1, 2, 3, 4
- Chapter 18
- Multiple Choice: # 1, 7, 9, 10, 11, 14, 16, 18,
19
- Problems: # 3
- Worked Problems # 10.1 and 10.2 at http://highered.mcgraw-hill.com/sites/0077337735/student_view0/chapter10/worked_problems.html
- Web Quizzes at http://highered.mcgraw-hill.com/sites/0077337735/student_view0/chapter10/quiz.html
- Chapter 10: ALL
- Chapter 18: # 4, 5, 8 , 9, 10 [What is wrong
with question #8?]
- End-of-Chapter Questions and Problems:
- Chapter 10: Questions 2-9; Problems 1, 2
- Chapter 18: Questions # 1, 5, 10, 12, 13; Problems
# 2
Chapter 11 -
Monopolistic Competition and Oligopoly
Unit 4 -
Resource Markets: Decision Making, Efficiency, and
Equity
Chapter 12 -
The Demand for Resources
Chapter
13 - Wage Determination (Appendix: Labor Unions)
Chapter 20 -
Income Inequality, Poverty, and Discrimination
Chapter 22 -
Immigration
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