Week1.OppCost.2009 - 1 Welcome to ECMA04H Introduction to...

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Welcome to ECMA04H – Introduction to Microeconomics: A Mathematical Approach! Prof. Gordon Cleveland Office: MW-364, Phone: 416-287-7317 E-mail: cleveland@utsc.utoronto.ca Office Hours: Mondays, Wednesdays 1-2 Tuesdays 2-3 Website: www.utsc.utoronto.ca/~cleveland This is the website for this course, with lots of materials. And current information. Lectures will be posted for download on the UTSC Intranet every Sunday (or before). Print them (perhaps 2, 3 or 4 to a page?), and add extra notes in class. 1
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How Do I Test Your Abilities in Microeconomics? Tests Mostly multiple choice (10 choices for most questions) Lots of “problem-based” questions (not memorization) Some “theory” questions First test – 25% Second test – 25% Final exam – 50% If you want to skip a test…you can!! No doctors’ notes; no make-up tests; weight will automatically shift to the final However, it makes no sense to skip a test, because… If you do better on the final, you can wipe out a lower mark on first test, second test, or on both of them. 2
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Course is based on: - knowledge of basic economic theory - ability to do problems using theory + math (graphs, algebra and calculus) Things you need to know about: 1. Lecture Notes for each week on Intranet by Sunday night (also your marks later in the term) 2. The Handbook (with tutorial questions and weekly problem sets) 3. Tutorials every week (except this one ) 4. T.A.’s (6 teaching assistants). Very helpful Student #1 Student #2 Student #3 First Test 50% 80% 60% Second Test 50% 40% 80% Final Exam 75% 60% 40% Course Mark 75% 65% 55% 3
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5. Problem sets each week in your Handbook (do them in a group) 6. web site www.utsc.utoronto.ca/~cleveland (old exams and tests and other study materials) 7. Text book (recommended) 8. Lectures at home? Go to: www.utsc.utoronto.ca/~ECMA04/o nline.html 4
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Is this a tough course? Judge for yourself… A (80% or more): 20% B (70-79%): 20% C (60-69%): 20% D (50-59%): 20% F (below 50%): 10% Dropped: 10% 5
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The course: Microeconomics – the study of individual markets in the economy (demand and supply, determining price and quantity). How decisions are made, through markets, to allocate society’s economic resources to alternative possible uses . 6
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Topics: - Opportunity Cost; Production Possibility Frontiers - Demand and Elasticity - Costs and Supply - Perfectly competitive markets - short and long run - Monopoly markets - Efficiency in markets; regulation of natural monopoly - Oligopoly markets - Market Failures: externalities (e.g., pollution) and public goods (e.g., public health) - International Trade 7
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How do I succeed in this course? a. work hard and work now b. go to tutorials; love your T.A. c. download the handbook; do the problems (with a friend) d. look at the website; get familiar with old tests e. come to class; take notes; think; don’t talk (or watch the video and talk all you want… ) f. expect both theory and math to be tested g. don’t cheat (I’m serious) Do I need university math? Not for this year…but for next year
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This note was uploaded on 06/11/2011 for the course ECMA 04 taught by Professor Cleverland during the Fall '09 term at University of Toronto- Toronto.

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Week1.OppCost.2009 - 1 Welcome to ECMA04H Introduction to...

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