ECO 201-H004: Announcements
Classes > ECO 201 - H004 > Announcements
January 15, 2008 - Studied Chapter 1. Here are some of the things we looked at: Scarcity, Microeconomics vs. Macroeconomics, Positive and Normative Economics, Finding the slope of a line, Finding the intercept, Economic interpretation of the intercept and slope, Convex vs. concave
January 22, 2008 - Studied Chapter 2. Here are some of the notions we discussed: Concept of Opportunity Cost, Opportunity Costs: Implicit vs. Explicit Costs, Production Possibilities Frontier, Reasons for operating inside the PPF: productive inefficiency, recessions, Economic Growth, Consumption versus Growth, Specialization and exchange: absolute vs. comparative advantage, The three methods of resource allocation, The three types of resource ownership
January 29, 2008 - Study Chapter 3. Here are some of the important concepts: Market definition - Aggregation, perfect competitive vs. imperfect competitive, (Change of) Quantity demanded vs. (change of) demand, Law of demand, Draw a demand curve based on a demand schedule, Shifts vs. movements along the demand curve, Factors that shift the demand curve: income, wealth, prices of related goods, population, expected prices; Normal vs. inferior goods; Complements vs. substitutes; (Change of) Quantity supply vs. (change in) demand; Law of supply; Draw a supply curve based on a supply schedule; Shifts vs. movements along the supply curve; Factors that shift the supply curve: input prices, price of alternatives, technology, number of firms, expected price; Finding the equilibrium price and quantity; What happens at the equilibrium when the following change: income, bad weather etc.
February 5, 2008 - No class: Mardi Gras break.
February 12, 3008 - First part of the class: Midterm 1. Here is a link to a study guide. Second part of the class we'll be studying Chapter 4.
February 26, 2008 - Make up Exam. Study Chapter 6.
February 26, 2008 - Make up Exam. Study Chapter 6.
March 4, 2008 - No class; You can download Exam 2 here. It is due the first Tuesday after Spring break. Solutions to problems in chapter 4, 5, and 6 have been posted on the main page.
March 19, 2008 - Solutions and grades for Exam 2 have been posted on the class main page.
March 26, 2008 - Solutions and Summaries for chapters 7, 8, and 9 have been posted on the class main page. Exam 3 is also available on the main page. Please find a link here. Is is due April the 1st, in class.