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MICHIGAN STATE UNIVERSITY Fall 2007 DEPARTMENT OF ECONOMICS EC201 (SECTION 004): INTRODUCTION TO MICROECONOMICS Class Time: 3:00pm-4:20pm, Monday & Wednesday Class Room: 108 @ Ernst Bessey Hall Professor Kiwon Kang Office Hours: 4:30pm-6:00pm, Tuesday and Wednesday; or by Appointment Office Location: Room 12E, International Academic Center Tel: (517) 432-3663 Fax: (517) 353-3010 Web: Email: OBJECTIVE : This course is a basic introduction to principles of microeconomics, and it comprises four parts. An introductory part sets out the basic economic model of scarcity, opportunity cost, and markets. With this basic overview, we move on to the competitive model in part two. Here we study the performance of the overall economy under conditions of competition. It also provides the benchmark for evaluating the more common cases of imperfect competition. In third part of the course, we explore the world of imperfect competition. Our approach will consider precisely how the relevant markets fall short of competition and if there exist realistic polices that improve matters. In last part, we will deal with the issues, which economists have recently made substantial progress in understanding, including game theory and environmental issues. The goals of the class are 1) to provide students with the basic knowledge of micro issues, and 2) to stimulate their further interest in the advanced study of economics. TEXTS : Principles of Microeconomics ( Required ) (i) Authors: Joseph E. Stiglitz and Carl E. Walsh (ii) Edition: Fourth (iii) Publisher: W.W. Norton Principles of Microeconomics-Study Guide ( Strongly Recommended ) (i) Author: Lawrence W. Martin (ii) Edition: Fourth (iii) Publisher: W.W. Norton The study guide reinforces the key concepts of each chapter through reviews, practice exams, and problem sets designed to help you apply what you’ve learned. Some tool kits in the study guide will be covered during the class. Also some of good examples in Real Economics for Real People , written by Charles L. Ballard, will be covered in lectures. 1
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POSTED MATERIALS : My personal website: (i) Syllabus (ii) Lecture Notes with Blanks (iii) Sample Tests (iv) Exam Answers ANGEL: (i) Scores of Exams Please print out posted lecture notes with blanks in advance and bring them to the class. You will fill in the blanks in class. REQUIREMENTS : There are two requirements: (i) Midterms (ii) Final Exam All exams will consist of multiple-choice question s. The final exam will be cumulative.
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This note was uploaded on 03/19/2008 for the course ECON 201 taught by Professor C.liedholm during the Spring '07 term at Michigan State University.

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