PROGRAMME: Interdepartmental Programme of Postgraduate Studies in Business Administration (M.B.A.)

Size: px
Start display at page:

Download "PROGRAMME: Interdepartmental Programme of Postgraduate Studies in Business Administration (M.B.A.)"

Transcription

1 PROGRAMME: Interdepartmental Programme of Postgraduate Studies in Business Administration (M.B.A.) Compulsory Course: Principles of Economic Theory and Policy Semester: 1st Instructors: Velentzas Konstantinos, Professor Off: 406 tel: Course Description The nature and method of economics. Basic assumptions and definitions. Production possibilities curve, opportunity cost, and the benefits of trade. Demand, supply and the market. Elasticities of demand and supply. Consumer surplus and producer surplus. Production and cost of production. Price and output determination in pure competition, pure monopoly, monopolistic competition and oligopoly. Course Objectives The objective of this course is to give the student the basis to understand how firms and households respond to changes in price of goods and services, differing economic conditions, or other factors that influence behavior using the principles of supply and demand. The student, using the concepts learned, will be able to describe the cause and effect of a change in one or more economic conditions on markets, households and firms. Student Evaluation Final exam 80% and homework 20%. Recommended Textbook Begg, D., Fischer, S. and Dornbusch, R. (2005), "Economics", 8th edition, McGraw- Hill. Additional Bibliography Orchard, E.W., Glen, J. and Eden, J. (1997), "Business Economics", Blackwell. Salvatore, D. (1984), "Managerial Economics", McGraw-Hill. Velentzas, K. (2011), "Introduction to Economic Analysis: Problems and Applications", second edition, E. Benou, Athens.

2 Lecture Outline WEEK DISCUSSION TOPIC Part One: Microeconomics 1 Basic assumptions and definitions. Production possibilities curve, opportunity cost, and the benefits of trade. 2 Demand and elasticities of demand. Consumer surplus. 3 Supply and elasticity of supply. Producer surplus. The market. 4 Production and cost of production. 5 Perfect competition. 6 Pure monopoly, monopolistic competition and oligopoly. Part two: Macroeconomics Final Exams

3 Part two: Macroeconomics The basic macroeconomic magnitudes National accounts The simple Keynesian model. The importance of aggregate demand in the determination of the equilibrium level of income Operation of the simple keynesian model. Multipliers & fiscal policy Money & its functions, money demand and supply, monetary control, factors affecting money demand, short run interest rate Inflation: definition & measurement, types of inflation, inflation as a monetary phenomenon, the cost of inflation, disinflation. Unemployment: measurement & problems, the labour market in the classical model, labour market equilibrium and full employment, natural rate of unemployment 13 Final Exams

4 UNIVERSITY OF MACEDONIA MBA PRINCIPLES OF ECONOMIC THEORY AND POLICY Part 1 : Microeconomics Syllabus, Winter 2017 Instructor: Christos Constantatos Office: 503 (economics), Tel.: , Course Objective: To present and analyze firms economic decisions, as well as the workings of different types of market structures. Special emphasis will be given to price and quantity strategies of firms in imperfectly competitive markets. For this purpose, some basic elements of game theory will be also reviewed. Main reference: Thomas, Christopher R., and S. Charles Maurice, Managerial Economics, Foundations of Business Analysis and Strategy. McGraw-Hill International Edition Student evaluation : A final exam will determine the mark for the microeconomics part. The final mark will be calculated as an equal-weights average between the micro- and macro exams. Description of the Material : Lecture 1: Consumer Value and Exchange Total and Marginal Value The Demand Function (2.1, 2.4) Movements along vs shifts of the demand curve Consumers Surplus Individual vs market demand (5.5) Price Elasticity of Demand ( ) Other Elasticities of Demand (6.6) Lecture 2: Cost Opportunity Cost vs Accounting Cost Sunk costs and economic decisions

5 Short-run Cost Function and related curves (8.3, 8.4) Long-run Cost Function (9.5, 9.6, 9.7) Economies and Diseconomies of Scale Lecture 3: Principles of Profit maximization and Monopoly Marginal Revenue; why is it generally lower than price? The optimality rule: MR = MC (12.3) Profits or Losses When must a firm shut down? Causes of monopoly (12.2) Measurement of market power (12.1) Lecture 4A: Equilibrium in competitive markets Definition of a perfectly competitive market (11.1) The supply curve (2.2) Market equilibrium (2.3) Demand and supply shifts (2.5) Lecture 4B: Price Discrimination The idea (14.1) 3 rd Degree pd (14.4) 1 st Degree pd and two-part tariffs (14.2) 2 nd Degree pd (14.3 General idea and description of practices 2 nd Degree with two-part tariffs Lecture 5: Games I: Introduction and simultaneous games (13.1) The idea of games, and the description of a game Equilibrium in Dominant Strategies and Prisoner s Dilemma Nash equilibrium and best-reply functions Application: Cournot competition Lecture 6: Games II: Sequential Games (13.2) Subgame perfect Equilibrium The strategic role of commitment Backwards induction and Stackelberg equilibrium Entry Deterrence (13.4)

Contents. Concepts of Revenue I-13. About the authors I-5 Preface I-7 Syllabus I-9 Chapter-heads I-11

Contents. Concepts of Revenue I-13. About the authors I-5 Preface I-7 Syllabus I-9 Chapter-heads I-11 Contents About the authors I-5 Preface I-7 Syllabus I-9 Chapter-heads I-11 1 Concepts of Revenue 1.1 Introduction 1 1.2 Concepts of Revenue 2 1.3 Revenue curves under perfect competition 3 1.4 Revenue

More information

6 Market failure (Unit 1.4) 6.1 The meaning of market failure and externalities Negative externalities Positive externalities

6 Market failure (Unit 1.4) 6.1 The meaning of market failure and externalities Negative externalities Positive externalities 35 1 CONTENTS Introduction x 1 The foundations of economics 1.1 Economics is a social science 1 1.2 Scarcity 2 1.3 Choice and opportunity cost 9 1.4 The use of models in economics 10 1.5 Central themes

More information

Microeconomics. Basic Information

Microeconomics. Basic Information Microeconomics Basic Information Title: Microeconomics Code: ECN101 Credit Hours: 3 C.H. Prerequisite(s): None Classification: Compulsory Faculty Core Course Description Microeconomics is a basic core

More information

Information. Course Readings:

Information. Course Readings: Academic Inquiries: Qingdao University Email: iss@qdu.edu.cn Phone: 86-532-85951196 Qingdao University 2019 SUMMER ECON 301 Intermediate Microeconomics Information Class Hours: Monday through Thursday,2

More information

Fundamentals of Economics. 2 September Exam Paper. Time: 2.5 hours

Fundamentals of Economics. 2 September Exam Paper. Time: 2.5 hours Fundamentals of Economics September 01 Exam Paper Section A Section B Answer ALL questions from this section. Answer any TWO () questions from this section. Clearly cross out surplus answers. Failure to

More information

24TECO 202 COURSE OUTLINE. Prerequisites: None. Course Description:

24TECO 202 COURSE OUTLINE. Prerequisites: None. Course Description: Lecture 24TECO 202 24TPrinciples of Microeconomics COURSE OUTLINE Revised: Fall 2015 Prerequisites: None Course Description: Introduces the basic concepts of microeconomics. Explores the free market concepts

More information

Brown University ECON 1130, Intermediate Microeconomics (Mathematical) Spring 2017 Class meets Tuesdays and Thursdays, 1:00-2:30 p.m.

Brown University ECON 1130, Intermediate Microeconomics (Mathematical) Spring 2017 Class meets Tuesdays and Thursdays, 1:00-2:30 p.m. Brown University ECON 1130, Intermediate Microeconomics (Mathematical) Spring 2017 Class meets Tuesdays and Thursdays, 1:00-2:30 p.m. Professor: Roberto Serrano Office hours: Monday, 9:00 a.m. - 12:00

More information

Fundamentals of Economics. 3 June Examination Paper. Time: 2.5 hours

Fundamentals of Economics. 3 June Examination Paper. Time: 2.5 hours Fundamentals of Economics 3 June 2015 Examination Paper Section A Section B Answer ALL questions from this section. Answer any TWO (2) questions from this section. Clearly cross out surplus answers. Failure

More information

New syllabus of B.Com Part-1 effective from 2006

New syllabus of B.Com Part-1 effective from 2006 New syllabus of B.Com Part-1 effective from 2006 ECONOMIC ANALYSIS AND POLICY MICRO ECONOMICS 2 questions, 40 Marks CHAPTER 1 1NTRODUCTION 1 Basic concepts 2 Definition 3 Micro and macro approach to economic

More information

A Planned Course Statement for. Economics, AP. Length of Period (mins.) 41 Total Clock Hours: 123. Periods per Cycle: 6 Length of Course (yrs.) 1.

A Planned Course Statement for. Economics, AP. Length of Period (mins.) 41 Total Clock Hours: 123. Periods per Cycle: 6 Length of Course (yrs.) 1. East Penn School District Secondary Curriculum A Planned Course Statement for Economics, AP Course # 266 Grade(s) 12 Department: Social Studies Length of Period (mins.) 41 Total Clock Hours: 123 Periods

More information

Syllabus for M.Com. Programme. Semester I & II

Syllabus for M.Com. Programme. Semester I & II AC - 24/06/2016 Item No:_4.16 UNIVERSITY OF MUMBAI Preamble Syllabus for M.Com Programme Core course in Economics Semester I & II M.Com Semester I: Core course in Economics Paper I (Choice Based Credit

More information

Institute of Actuaries of India

Institute of Actuaries of India Institute of Actuaries of India Subject CT7 Business Economics For 2018 Examinations Aim The aim of the Business Economics subject is to introduce students to the core economic principles and how these

More information

Subject CB2 Business Economics Core Principles Syllabus

Subject CB2 Business Economics Core Principles Syllabus Subject CB2 Business Economics Core Principles Syllabus for the 2019 exams 1 June 2018 Business Economics Aim The aim of the Business Economics subject is to introduce students to the core economic principles

More information

TWELFTH EDITION. University of South Florida. Texas A&M University Late Professor Emeritus. Mc Graw Hill Education

TWELFTH EDITION. University of South Florida. Texas A&M University Late Professor Emeritus. Mc Graw Hill Education MANAGERIAL Foundations of Business Analysis and Strategy TWELFTH EDITION Christopher R. Thomas University of South Florida S. Charles Maurice Texas A&M University Late Professor Emeritus Mc Graw Hill Education

More information

Foundations of Business Analysis and Strategy

Foundations of Business Analysis and Strategy k 11 i- f l I_J I I } I II j "J 1r%\ "J T. "u ' Foundations of Business Analysis and Strategy TENTH EDITION (hristopher R. Thomas University of South Florida Exide Professor of Sustainable Enterprise S.

More information

HONG KONG SHUE YAN COLLEGE Bachelor of Business Administration (Hons) Bachelor of Arts (Hons) in Journalism and Mass Communication

HONG KONG SHUE YAN COLLEGE Bachelor of Business Administration (Hons) Bachelor of Arts (Hons) in Journalism and Mass Communication HONG KONG SHUE YAN COLLEGE Bachelor of Business Administration (Hons) Bachelor of Arts (Hons) in Journalism and Mass Communication Course Title : Introduction to Economics Course Code : ECON 100 Year of

More information

Microeconomics (Fall term) Syllabus

Microeconomics (Fall term) Syllabus Faculty of Economic Sciences Microeconomics (Fall term) Syllabus Instructor's name: Kosmas Marinakis (module 1), Alla Friedman (module 2) Class Times and Locations: Lectures: TBA Classes: by groups Email:

More information

FIFTH EDITION B BARRON'S. Walter J.Wessels. BUSINESS REVIEW BOOKS Economics

FIFTH EDITION B BARRON'S. Walter J.Wessels. BUSINESS REVIEW BOOKS Economics BUSINESS REVIEW BOOKS Economics FIFTH EDITION Walter J.Wessels Professor of Economics Department of Economics and Business North Carolina State University B 381467 BARRON'S CONTENTS Preface xiii 1 WHAT

More information

Sample Multiple-Choice Questions

Sample Multiple-Choice Questions E03 3 Microeconomics Summative Exam SAMPLE QUESTIONS Sample Multiple-Choice Questions Circle the letter of each correct answer 1 True statements about the theory of the firm in the short run and long run

More information

Managerial Economics

Managerial Economics Managerial Economics 1. Course Objective Dr. Tanushree Haldar Assistant Professor, MYRA school of Business Office Hours: Kindly contact me to schedule an appointment. Email: tanushree.haldar@myra.ac.in

More information

Economics 323 Microeconomic Theory Fall 2016

Economics 323 Microeconomic Theory Fall 2016 green=b SECOND EXAM Chapter Ten Economics 323 Microeconomic Theory Fall 2016 1. The markets for many come close to satisfying the conditions required for perfect competition. a. agricultural goods b. transportation

More information

COURSE DESCRIPTION: Microeconomic analysis. Topics include consumer and firm behavior, competitive pricing, monopoly power, and international trade.

COURSE DESCRIPTION: Microeconomic analysis. Topics include consumer and firm behavior, competitive pricing, monopoly power, and international trade. COURSE TITLE: Principles of Microeconomics COURSE NUMBER: ECON- 206 CREDIT HOURS: Three (3) INSTRUCTOR: Carolyn Nelson OFFICE LOCATION: Weinberg Hall Room 121 OFFICE HOURS: As Posted TELEPHONE: 620-251-7700,

More information

PRINCIPLES OF ECONOMICS IN CONTEXT CONTENTS

PRINCIPLES OF ECONOMICS IN CONTEXT CONTENTS PRINCIPLES OF ECONOMICS IN CONTEXT By Neva Goodwin, Jonathan M. Harris, Julie A. Nelson, Brian Roach, and Mariano Torras CONTENTS PART ONE The Context for Economic Analysis Chapter 0: Economics and Well-Being

More information

UNIVERSITY OF HAWAIÌI AT MÂNOA Department of Economics

UNIVERSITY OF HAWAIÌI AT MÂNOA Department of Economics UNIVERSITY OF HAWAIÌI AT MÂNOA Department of Economics Spring 2010 Course Syllabus ECON 130 (Section 002) Principles of Microeconomics http://laulima.hawaii.edu http://www.aplia.com Aplia Course Key: 3QX5-E3HR-KZHG

More information

Syllabus. Firms and Markets Professor Paul Scott Office: KMC Course description

Syllabus. Firms and Markets Professor Paul Scott Office: KMC Course description Firms and Markets Professor Paul Scott Office: KMC 7-77 Email: ptscott@stern.nyu.edu Syllabus Course description The goal of this course is to give you some insight into how markets work. The first part

More information

Preface... iii Introduction... xxi Chapter 1: Managerial Economics: Meaning, Nature, Scope, and Importance... 1

Preface... iii Introduction... xxi Chapter 1: Managerial Economics: Meaning, Nature, Scope, and Importance... 1 Table of Contents Preface... iii Introduction... xxi Chapter 1: Managerial Economics: Meaning, Nature, Scope, and Importance... 1 1.1 Introduction... 2 1.2 Meaning of Economics... 2 1.2.1 Nature of Economics...

More information

Contents EXPLORING ECONOMICS

Contents EXPLORING ECONOMICS Contents About the authors I-5 Preface to second edition I-7 Chapter-heads I-9 Syllabus : Choice Based Credit System (CBCS) I-19 1 EXPLORING ECONOMICS 1.1 Why study economics? 1 1.2 Meaning of economics

More information

Andrew Gillespie V *

Andrew Gillespie V * Andrew Gillespie V * New to this edition xvii How to use this book ^ xviii Online Resource Centre > xx Acknowledgements Preface xxii xxiii 2 What is an economy? 3 Why all business managers should want

More information

DEPARTMENT OF ECONOMICS PROGRAMME SPECIFIC OUTCOME

DEPARTMENT OF ECONOMICS PROGRAMME SPECIFIC OUTCOME DEPARTMENT OF ECONOMICS PROGRAMME SPECIFIC OUTCOME 1. Identify the role of supply and demand. 2. Identify the necessary conditions for market economies to functions well. 3. Discuss the advantages of market

More information

Hill College P.O. Box 619 Hillsboro, Texas COURSE SYLLABUS PRINCIPLES OF MICROECONOMICS. Prepared by: T. SMITH Date: JANUARY 2010

Hill College P.O. Box 619 Hillsboro, Texas COURSE SYLLABUS PRINCIPLES OF MICROECONOMICS. Prepared by: T. SMITH Date: JANUARY 2010 Hill College P.O. Box 619 Hillsboro, Texas 76645 COURSE SYLLABUS Course Prefix and Number ECON 2302 Course Title PRINCIPLES OF MICROECONOMICS Prepared by: T. SMITH Date: JANUARY 2010 Approved by: Division

More information

Preface. Chapter 1 Basic Tools Used in Understanding Microeconomics. 1.1 Economic Models

Preface. Chapter 1 Basic Tools Used in Understanding Microeconomics. 1.1 Economic Models Preface Chapter 1 Basic Tools Used in Understanding Microeconomics 1.1 Economic Models 1.1.1 Positive and Normative Analysis 1.1.2 The Market Economy Model 1.1.3 Types of Economic Problems 1.2 Mathematics

More information

EDINBURGH BUSINESS SCHOOL PROGRAMME COURSE OUTLINE A Great Place to Learn.

EDINBURGH BUSINESS SCHOOL PROGRAMME COURSE OUTLINE A Great Place to Learn. EDINBURGH BUSINESS SCHOOL PROGRAMME COURSE OUTLINE A Great Place to Learn. PROGRAMME: HERIOT WATT MBA DURATION: 5:30pm to Contract Hours: 70 60 DAY(S): Monday Actual Hours: 70 60 MODE: COMPONENT: Part-Time

More information

1 P a g e B a r t r a m T r a i l H S D. F r a n k. Krugman s Economics for AP*, Anderson and Ray, Worth Publishers 2 nd Edt.

1 P a g e B a r t r a m T r a i l H S D. F r a n k. Krugman s Economics for AP*, Anderson and Ray, Worth Publishers 2 nd Edt. 1 P a g e B a r t r a m T r a i l H S D. F r a n k Advanced Placement ECONOMICS SYLLABUS Instructor: Course: Contact Info: Planning Period: Text: Mr. Frank Social Studies Dept. Room: 635 AP Macroeconomics

More information

EDINBURGH BUSINESS SCHOOL PROGRAMME COURSE OUTLINE A Great Place to Learn.

EDINBURGH BUSINESS SCHOOL PROGRAMME COURSE OUTLINE A Great Place to Learn. EDINBURGH BUSINESS SCHOOL PROGRAMME COURSE OUTLINE A Great Place to Learn. PROGRAMME: HERIOT WATT MBA DURATION: 10.00am - 1.00pm Contract Hours: 70 60 DAY(S): Sunday Actual Hours: 70 60 MODE: COMPONENT:

More information

Do not open this exam until told to do so. Solution

Do not open this exam until told to do so. Solution Do not open this exam until told to do so. Department of Economics College of Social and Applied Human Sciences K. Annen, Fall 003 Final (Version): Intermediate Microeconomics (ECON30) Solution Final (Version

More information

Economics B.A./B.Sc.: Elective and Optional Outlines of Tests

Economics B.A./B.Sc.: Elective and Optional Outlines of Tests Outlines of Tests and Courses of Reading BA/B Sc Pass Course 1 Economics B.A./B.Sc.: Elective and Optional Outlines of Tests Part- I Paper Title of Course Marks A : Basic Mathematics and Microeconomics

More information

B.A. (ECONOMICS) Semester Subject Code Subject. Sem-I BA(ECO)-101 MICROECONOMICS. Sem-III BA(ECO)-301 MACRO ECONOMICS

B.A. (ECONOMICS) Semester Subject Code Subject. Sem-I BA(ECO)-101 MICROECONOMICS. Sem-III BA(ECO)-301 MACRO ECONOMICS B.A. (ECONOMICS) Semester Subject Code Subject Sem-I BA(ECO)-101 MICROECONOMICS Sem-III BA(ECO)-301 MACRO ECONOMICS Sem-V BA(ECO)-501 DEVELOPMENT ECONOMICS Lesson Plan: BA/B.Sc (Economics) Semester I Microeconomics

More information

Economics B.A./B.Sc.: Elective and Optional

Economics B.A./B.Sc.: Elective and Optional Outlines of Tests and Courses of Reading BA/B Sc Pass Course 1 Economics B.A./B.Sc.: Elective and Optional Outlines of Tests Paper Title of Course Marks A : Basic Mathematics and Microeconomics 100 B :

More information

Microeconomics 2302 Potential questions and study guide for Exam 2. 6 of these will be on your exam.

Microeconomics 2302 Potential questions and study guide for Exam 2. 6 of these will be on your exam. Microeconomics 2302 Potential questions and study guide for Exam 2 6 of these will be on your exam. Potential questions are in Black Font. Study Guide stuff is in red font. 1. Elasticity question 1 a.

More information

Faculty of Economics, Thammasat University EE 211 Principles of Microeconomics (3 credits)

Faculty of Economics, Thammasat University EE 211 Principles of Microeconomics (3 credits) Faculty of Economics, Thammasat University EE 211 Principles of Microeconomics (3 credits) Semester 1/2014 ----------------------------------------------------------------------------------------------

More information

LAHORE UNIVERSITY OF MANAGEMENT SCIENCES SULEMAN DAWOOD SCHOOL OF BUSINESS. MECO 111 Principles of Microeconomics. Dr. Bushra Naqvi COURSE OUTLINE

LAHORE UNIVERSITY OF MANAGEMENT SCIENCES SULEMAN DAWOOD SCHOOL OF BUSINESS. MECO 111 Principles of Microeconomics. Dr. Bushra Naqvi COURSE OUTLINE LAHORE UNIVERSITY OF MANAGEMENT SCIENCES SULEMAN DAWOOD SCHOOL OF BUSINESS MECO 111 Principles of Microeconomics Dr. Bushra Naqvi COURSE OUTLINE ACF Fall 2011/12 Instructor: Dr. Bushra Naqvi Email: Bushra.Naqvi@lums.edu.pk

More information

Faculty of Economics, Thammasat University EE 211 Principles of Microeconomics (3 credits)

Faculty of Economics, Thammasat University EE 211 Principles of Microeconomics (3 credits) Lecture Time: Lecture Venue: Instructor: Faculty of Economics, Thammasat University EE 211 Principles of Microeconomics (3 credits) Semester 1/2015 ----------------------------------------------------------------------------------------------

More information

Specific Learning Goals/Benchmarks and Student Assessment. AP Macroeconomics

Specific Learning Goals/Benchmarks and Student Assessment. AP Macroeconomics Unit Bartram Trail HS Specific Learning Goals/Benchmarks and Student Assessment AP Macroeconomics # Benchmark Assessment 1 1 1 2 1 3 1 4 2 5 2 6 3 7 3 8 3 9 3 10 3 11 4 12 4 13 4 14 4 15 4 16 4 17 Define

More information

Name FIRST HOUR EXAM ECN 4350/6350

Name FIRST HOUR EXAM ECN 4350/6350 Professor Atkinson Spring, 2007 Name FIRST HOUR EXAM ECN 4350/6350 1) I have drawn in the demand curve, LRAC, and LRMC curve for a natural monopolist who enjoys substantial economics of scale. a. Draw

More information

AP Microeconomics. Content Skills Learning Targets Assessment Resources & Technology

AP Microeconomics. Content Skills Learning Targets Assessment Resources & Technology St. Michael Albertville High School Teacher: Matthew Rooker AP Microeconomics October 2014 Content Skills Learning Targets Assessment Resources & Technology November 2014 Content Skills Learning Targets

More information

Market Structure & Imperfect Competition

Market Structure & Imperfect Competition In the Name of God Sharif University of Technology Graduate School of Management and Economics Microeconomics (for MBA students) 44111 (1393-94 1 st term) - Group 2 Dr. S. Farshad Fatemi Market Structure

More information

Micro Semester Review Name:

Micro Semester Review Name: Micro Semester Review Name: The following review is set up to emphasize certain concepts, graphs and terms. It is the responsibility of the individual teachers to emphasize and review the analysis aspects

More information

ADVANCED PLACEMENT MICROECONOMICS Maple Grove Senior High School Jeff Rush Social Studies Department

ADVANCED PLACEMENT MICROECONOMICS Maple Grove Senior High School Jeff Rush Social Studies Department ADVANCED PLACEMENT MICROECONOMICS Maple Grove Senior High School Jeff Rush rushj@district279.org Social Studies Department Required textbook Economics, McConnell and Brue, 17 th edition, 2008. Course description

More information

MARKETS. Part Review. Reading Between the Lines SONY CORP. HAS CUT THE U.S. PRICE OF ITS PLAYSTATION 2

MARKETS. Part Review. Reading Between the Lines SONY CORP. HAS CUT THE U.S. PRICE OF ITS PLAYSTATION 2 Part Review 4 FIRMS AND MARKETS Reading Between the Lines SONY CORP. HAS CUT THE U.S. PRICE OF ITS PLAYSTATION 2 On May 14, 2002 Sony announced it was cutting the cost of its PlayStation 2 by 33 percent,

More information

Micro Economics M.A. Economics (Previous) External University of Karachi Micro-Economics

Micro Economics M.A. Economics (Previous) External University of Karachi Micro-Economics Micro Economics M.A. Economics (Previous) External University of Karachi Micro-Economics Annual Examination 1997 Time allowed: 3 hours Marks: 100 Maximum 1) Attempt any five questions. 2) All questions

More information

Question Paper Code : J1103

Question Paper Code : J1103 Reg. No. : Question Paper Code : J1103 M.B.A. DEGREE EXAMINATION, FEBRUARY/MARCH 2018. First Semester DBA 7103 ECONOMIC ANALYSIS FOR BUSINESS (Common to All Branches) (Regulations 2013) Time : Three hours

More information

ECON A311F: Intermediate Microeconomics. Course Outline

ECON A311F: Intermediate Microeconomics. Course Outline School of Arts and Social Sciences ECON A311F: Intermediate Microeconomics (Autumn 2016) Course Outline No. of Credits: Contact Hours: Prerequisites: Instructor: 5 credits 4 hours per week (Lecture: 3

More information

N/A N/A. Yes. Students are expected to review and understand all areas of the course outline.

N/A N/A. Yes. Students are expected to review and understand all areas of the course outline. Course Outline School: Department: Course Title: Business Graduate Studies Economic Analysis for Managers Course Code: ECON 701 Course Hours/Credits: 42 Prerequisites: Co-requisites: Eligible for Prior

More information

Course Description: Objectives: Grading:

Course Description: Objectives: Grading: Boise State University Principals of Microeconomics ECON 202, Section 001, Liberal Arts Building, Room LA 106, Spring Semester 2011 Instructor: John Church Textbook: Exploring Microeconomics BSU Phone:

More information

TEACHING MICRO AND MACRO AS SEPARATE COURSES

TEACHING MICRO AND MACRO AS SEPARATE COURSES TEACHING MICRO AND MACRO AS SEPARATE COURSES TEACHING GUIDE Introduction This note shows how The Economy is being used in universities that teach microeconomics and macroeconomics in separate courses.

More information

Microeconomics Exam Notes

Microeconomics Exam Notes Microeconomics Exam Notes Opportunity Cost What you give up to get it Production Possibility Frontier Maximum attainable combination of two products (Concept of Opportunity Cost). Main Decision Makers:

More information

Course Description: Managerial Economics

Course Description: Managerial Economics 1- Basic Information: Course Description: Managerial Economics Course Name Course ID Contact Hours (Registered Sessions) Contact Hours (Synchronized Sessions) Midterm Exam Exam Registered Sessions Workload

More information

Managerial Economics & Business Strategy. Final Exam Section 2 May 11 th 7:30 am-10:00 am HH 076

Managerial Economics & Business Strategy. Final Exam Section 2 May 11 th 7:30 am-10:00 am HH 076 Managerial Economics & Business Strategy Final Exam Section 2 May 11 th 7:30 am-10:00 am HH 076 Grading Scale 5% - Attendance 8% - Homework (Drop the lowest grade) 7% - Quizzes (Drop the lowest grade)

More information

CONTENTS PART ONE -BASIC CONCEPTSCONCEPTS

CONTENTS PART ONE -BASIC CONCEPTSCONCEPTS CONTENTS PART ONE -BASIC CONCEPTSCONCEPTS Chapter-1 The Scope and Nature of Economics Introduction; The subject matter of Economics; Robbins Definition of Economics; Superiority of Robbins Definition;

More information

The homework is due on Wednesday, December 7 at 4pm. Each question is worth 0.8 points.

The homework is due on Wednesday, December 7 at 4pm. Each question is worth 0.8 points. Homework 9: Econ500 Fall, 2016 The homework is due on Wednesday, December 7 at 4pm. Each question is worth 0.8 points. Question 1 Suppose that all firms in a competitive industry have cost function c(q)=

More information

Level 4 Level 5 X Level 6 Level 7 Level 8 Mark the box to the right of the appropriate level with an X

Level 4 Level 5 X Level 6 Level 7 Level 8 Mark the box to the right of the appropriate level with an X MODULE SPECIFICATION TEMPLATE MODULE DETAILS Module title Economic Theory and Applications Module code EC224 Credit value 20 Level Level 4 Level 5 X Level 6 Level 7 Level 8 Mark the box to the right of

More information

SCHOOL DISTRICT OF THE CHATHAMS CURRICULUM

SCHOOL DISTRICT OF THE CHATHAMS CURRICULUM CONTENT AREA(S): Social Studies COURSE/GRADE LEVEL(S): AP Economics/ 10th - 12th Grade I. Course Overview Advanced Placement Economics provides students with a thorough understanding of the principles

More information

ECMC02H Intermediate Microeconomics - Topics in Price Theory

ECMC02H Intermediate Microeconomics - Topics in Price Theory 1 ECMC02H Intermediate Microeconomics - Topics in Price Theory Answers to the Term Test June 23, 2010 Version A of the test Your name (Print clearly and underline your last name) Your student number 1.

More information

Syllabus. ECON Spring semester, 2014

Syllabus. ECON Spring semester, 2014 Course: Principles of Macroeconomics Syllabus ECON 2313-003 Spring semester, 2014 Learning Objectives: (1) Developing a Strong Foundation in the Social Sciences - Students will be able to explain the processes

More information

NAGINDAS KHANDWALA COLLEGE AUTONOMOUS DEPARTMENT OF ECONOMICS

NAGINDAS KHANDWALA COLLEGE AUTONOMOUS DEPARTMENT OF ECONOMICS NAGINDAS KHANDWALA COLLEGE AUTONOMOUS DEPARTMENT OF ECONOMICS Approved syllabus for SYBA MICROECONOMICS II SEMESTER III (Academic Year 2017-18) Preamble: The Course is designed to develop the student s

More information

Chapter 12: Limit Pricing and Entry Deterrence

Chapter 12: Limit Pricing and Entry Deterrence Chapter 12: Limit Pricing and Entry Deterrence Learning Objectives: Students should learn to: 1. Define and give examples of predatory conduct. 2. Explain stylized facts about the entry of firms into industries.

More information

5/2/2016. Intermediate Microeconomics W3211. Lecture 25: Recap 2. The Story So Far. Organization for the Week. Introduction

5/2/2016. Intermediate Microeconomics W3211. Lecture 25: Recap 2. The Story So Far. Organization for the Week. Introduction 1 Intermediate Microeconomics W3211 Lecture 25: Recap 2 Introduction Columbia University, Spring 2016 Mark Dean: mark.dean@columbia.edu 2 The Story So Far. 3 The Story So Far. 4 Topic Topic 1 The Consumer

More information

foundations of economics fourth edition Andrew Gillespie OXFORD UNIVERSITY PRESS

foundations of economics fourth edition Andrew Gillespie OXFORD UNIVERSITY PRESS foundations of economics fourth edition Andrew Gillespie OXFORD UNIVERSITY PRESS Detailed contents Preface How to use this book About the Online Resource Centre Guided tour of Dashboard Acknowledgements

More information

AP Microeconomics Review Session #3 Key Terms & Concepts

AP Microeconomics Review Session #3 Key Terms & Concepts The Firm, Profit, and the Costs of Production 1. Explicit vs. implicit costs 2. Short-run vs. long-run decisions 3. Fixed inputs vs. variable inputs 4. Short-run production measures: be able to calculate/graph

More information

Eco201 Review Outline for Final Exam, Fall 2013, Prof. Bill Even

Eco201 Review Outline for Final Exam, Fall 2013, Prof. Bill Even Note: The outline is intended to provide the student with a list of the major topics that will be on the final exam. The instructor is not limited to questions that fit into one of these precise categories,

More information

FINALTERM EXAMINATION FALL 2006

FINALTERM EXAMINATION FALL 2006 FINALTERM EXAMINATION FALL 2006 QUESTION NO: 1 (MARKS: 1) - PLEASE CHOOSE ONE Compared to the equilibrium price and quantity sold in a competitive market, a monopolist Will charge a price and sell a quantity.

More information

Marking Period 1. Marking Period 3. Exam. Marking Period 4. Marking Period 2. COURSE: Advance Placement Microeconomics/Macroeconomics

Marking Period 1. Marking Period 3. Exam. Marking Period 4. Marking Period 2. COURSE: Advance Placement Microeconomics/Macroeconomics Week Marking Period 1 Week Marking Period 3 1 Microeconomics - Unit 1 21 Microeconomics - Unit 3 2 Microeconomics - Unit 1 22 Microeconomics - Unit 3 3 Microeconomics - Unit 1 23 Microeconomics - Unit

More information

ADVANCED PLACEMENT MICROECONOMICS COURSE SYLLABUS

ADVANCED PLACEMENT MICROECONOMICS COURSE SYLLABUS ADVANCED PLACEMENT MICROECONOMICS COURSE SYLLABUS Economics is a way of looking at the choices people make regarding their time, money, and talent. Studying economics shows how goods and services are produced,

More information

Principles of Microeconomics Assignment 8 (Chapter 10) Answer Sheet. Class Day/Time

Principles of Microeconomics Assignment 8 (Chapter 10) Answer Sheet. Class Day/Time 1 Principles of Microeconomics Assignment 8 (Chapter 10) Answer Sheet Name Class Day/Time Questions of this homework are in the next few pages. Please find the answer of the questions and fill in the blanks

More information

UC Berkeley Haas School of Business Economic Analysis for Business Decisions (EWMBA 201A) Monopoly Behavior Advanced Pricing with Market Power

UC Berkeley Haas School of Business Economic Analysis for Business Decisions (EWMBA 201A) Monopoly Behavior Advanced Pricing with Market Power UC Berkeley Haas School of Business Economic Analysis for Business Decisions (EWMBA 201A) Monopoly Behavior Advanced Pricing with Market Power Session VI Sep 25, 2010 In a competitive market there are

More information

Contents. Introduction

Contents. Introduction Contents Chapter 1 Introduction Introduction to Economics... 1 Meaning of Economics... 1 Definitions of Economics... 2 Introduction to Economic Theory... 3 The Structure of Theories... 5 Importance of

More information

KS5 Business & Economics

KS5 Business & Economics KS5 Business & Economics Year 12 Business Autumn Spring What is business? (28 lessons) How are key decisions made within a business? (28 lessons) of their marketing department? of their operations/production

More information

ECO-401 Economics Online Quiz 5

ECO-401 Economics Online Quiz 5 ECO-401 Economics Online Quiz 5 Question # 1 of 15 ( Start time: 04:23:56 PM ) Total Marks: 1 In the kinked demand curve model, if one firm reduces its price: Other firms will also reduce their price Other

More information

Eco201 Review Outline for Final Exam, Fall 2018, Prof. Bill Even

Eco201 Review Outline for Final Exam, Fall 2018, Prof. Bill Even Note: The outline is intended to provide the student with a list of the major topics that will be on the final exam. The instructor is not limited to questions that fit into one of these precise categories,

More information

UC Berkeley Haas School of Business Economic Analysis for Business Decisions (EWMBA 201A)

UC Berkeley Haas School of Business Economic Analysis for Business Decisions (EWMBA 201A) UC Berkeley Haas School of Business Economic Analysis for Business Decisions (EWMBA 201A) Monopoly and oligopoly (PR 11.1-11.4 and 12.2-12.5) Advanced pricing with market power and equilibrium oligopolistic

More information

Chapter 1: Managers and Economics

Chapter 1: Managers and Economics Economics for Managers by Paul Farnham Chapter 1: Managers and Economics 1.1 The best time for a managerial angle on life 1.2 What happened on the global markets in the last year? Governments designing

More information

PROGRAMME: B.A. (FIRST YEAR) PAPER: MICRO ECONOMICS-I

PROGRAMME: B.A. (FIRST YEAR) PAPER: MICRO ECONOMICS-I PROGRAMME: B.A. (FIRST YEAR) PAPER: MICRO ECONOMICS-I (Choice Based Credit System with Effect from the Academic Year: 2018-19) 1. Name of the Programme : B.A. 2. Paper Code : RJAUECO101 3. Paper Name :

More information

Introduction to Business (Managerial) Economics

Introduction to Business (Managerial) Economics Contents Unit 1 Introduction to Business (Managerial) Economics Meaning of Managerial Economics... 2 Definitions of Managerial Economics... 2 Features (Characteristics) of Managerial Economics... 5 Nature

More information

Contents in Brief. Preface

Contents in Brief. Preface Contents in Brief Preface Page v PART 1 INTRODUCTION 1 Chapter 1 Nature and Scope of Managerial Economics and Finance 3 Chapter 2 Equations, Graphs and Optimisation Techniques 21 Chapter 3 Demand, Supply

More information

St. Xavier s College Autonomous Mumbai. Syllabus For 1 st Semester Core Courses in. Economics (June 2019 onwards)

St. Xavier s College Autonomous Mumbai. Syllabus For 1 st Semester Core Courses in. Economics (June 2019 onwards) St. Xavier s College Autonomous Mumbai Syllabus For 1 st Semester Core Courses in Economics (June 2019 onwards) Contents: Theory Syllabus for Courses: S.ECO.1.01 INTRODUCTORY MICROECONOMICS I S.ECO.1.02

More information

Chapter 1 Basic Microeconomic Principles

Chapter 1 Basic Microeconomic Principles Chapter 1 Basic Microeconomic Principles Prof. Jepsen ECO 610 Lecture 1 December 3, 2012 copyright John Wiley and Sons Outline Course outline Economics review (Chapter 1) Costs Demand Profit maximization

More information

Economics II - October 27, 2009 Based on H.R.Varian - Intermediate Microeconomics. A Modern Approach

Economics II - October 27, 2009 Based on H.R.Varian - Intermediate Microeconomics. A Modern Approach Economics II - October 7, 009 Based on H.R.Varian - Intermediate Microeconomics. A Modern Approach GAME THEORY Economic agents can interact strategically in a variety of ways, and many of these have been

More information

College: Department: Course ID: Full Course Description: Course ID: Full Course Description: Course ID: Full Course Description: Course ID:

College: Department: Course ID: Full Course Description: Course ID: Full Course Description: Course ID: Full Course Description: Course ID: ٢٠١٤٩٥ Description: Special Topics This course is designed in a form of a workshop to conduct a thorough study and discussion of some topics on economics. ١٥٠٢٠١٧١٣ Description: Microeconomics a ٢٢٠١٣٣٥

More information

Chapter 33: Terms of Trade

Chapter 33: Terms of Trade Chapter 33: Terms of Trade 1 The Terms of Trade The division of the gains from trade depends on the terms of trade. The terms of trade are measured by the ratio of the price of exports to the price of

More information

Unit 6 Perfect Competition and Monopoly - Practice Problems

Unit 6 Perfect Competition and Monopoly - Practice Problems Unit 6 Perfect Competition and Monopoly - Practice Problems Multiple Choice Identify the choice that best completes the statement or answers the question. 1. One characteristic of a perfectly competitive

More information

Wallingford Public Schools - HIGH SCHOOL COURSE OUTLINE

Wallingford Public Schools - HIGH SCHOOL COURSE OUTLINE Wallingford Public Schools - HIGH SCHOOL COURSE OUTLINE Course Title: Advanced Placement Economics Course Number: 3552 Department: Social Studies Grade(s): 11-12 Level(s): Advanced Placement Credit: 1

More information

PROGRAMME: B.COM (FIRST YEAR) COURSE: BUSINESS ECONOMICS I PAPER: MICRO ECONOMICS-01

PROGRAMME: B.COM (FIRST YEAR) COURSE: BUSINESS ECONOMICS I PAPER: MICRO ECONOMICS-01 PROGRAMME: B.COM (FIRST YEAR) COURSE: BUSINESS ECONOMICS I PAPER: MICRO ECONOMICS-01 (Choice Based Credit System with Effect from the Academic Year 2018-19) 1. Name of the Programme: : B.COM 2. Paper Code

More information

Practice EXAM 3 Spring Professor Walker - E201

Practice EXAM 3 Spring Professor Walker - E201 Practice EXAM 3 Spring 2009 - Professor Walker - E201 1. The theory behind short run production costs can be narrowed to an assumption that MC is expected to initially fall, but rise at larger levels of

More information

B.V. Patel Institute of Business Management, Computer & Information Technology, Uka Tarsadia University : Managerial Economics

B.V. Patel Institute of Business Management, Computer & Information Technology, Uka Tarsadia University : Managerial Economics Unit-1 Introduction of Managerial Economics and Cost Analysis Answer the following. (1 mark) 1. Define Managerial Economics? 2. How does Managerial Economics help managers to become efficient and competent?

More information

Principles of Economics Micro. ECO 2023 (10332), Syllabus, Spring 2017

Principles of Economics Micro. ECO 2023 (10332), Syllabus, Spring 2017 Principles of Economics Micro ECO 2023 (10332), Syllabus, Spring 2017 Class Hours: Mo / Wed, 11:00am - 12:15pm 01/09 05/06/2017 Class Room: Building 76A, Room 102 Final Exam Date: TBD Instructor: Dr. Otto

More information

Micro Economics Review

Micro Economics Review Micro Economics Review 1. Intro to Economics a. What is Economics? i. Scarcity and the factors of production 1. Explain why scarcity and choice are basic problems of economics 2. Identify the factors of

More information

Oligopoly Pricing. EC 202 Lecture IV. Francesco Nava. January London School of Economics. Nava (LSE) EC 202 Lecture IV Jan / 13

Oligopoly Pricing. EC 202 Lecture IV. Francesco Nava. January London School of Economics. Nava (LSE) EC 202 Lecture IV Jan / 13 Oligopoly Pricing EC 202 Lecture IV Francesco Nava London School of Economics January 2011 Nava (LSE) EC 202 Lecture IV Jan 2011 1 / 13 Summary The models of competition presented in MT explored the consequences

More information

Practice Exam 3: S201 Walker Fall with answers to MC

Practice Exam 3: S201 Walker Fall with answers to MC Practice Exam 3: S201 Walker Fall 2007 - with answers to MC Print Your Name: I. Multiple Choice (3 points each) 1. If marginal utility is falling then A. total utility must be falling. B. marginal utility

More information

Review & Study Checklist 2015/16 Sem 02

Review & Study Checklist 2015/16 Sem 02 Name: Economics CIA 4U1 Course Expectations and Curriculum Contents Review & Study Checklist 2015/16 Sem 02 Unit 1 Topics Intro to Economics Micro / Macro Definitions Definition of Economics Applying economic

More information

9 The optimum of Oligopoly

9 The optimum of Oligopoly Microeconomics I - Lecture #9, December 1, 2008 9 The optimum of Oligopoly During previous lectures we have investigated two important forms of market structure: pure competition, where there are typically

More information