CourseOutline23020111

CourseOutline23020111 - Professor Jim Engle-Warnick Office:...

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Professor Jim Engle-Warnick Office: Leacock 321 Telephone: 514 398-4400 x09042 e-mail: please contact the TA’s first, and contact me by webct Office Hours: TBA Course location: MAASS Chemistry Building112 Date and time: Tuesday and Thursday, 1:05pm – 2:25pm WebCT Communication: Please contact the TA’s first for e-mail communication. They will handle administrative issues in this course. They are instructed to relay important information to me. If you wish to contact the instructor by e-mail, please use the facility in WebCT. A discussion list is available for use on WebCT. Important events will be posted on the WebCT calendar. If you have a pressing need, the best time is to see me before or after class or during office hours. A note about calculus, since the book has calculus in its title: Pre-existing knowledge of calculus is not required for this course, nor is it a significant advantage. Knowledge of algebra is required. You will learn an algebraic manipulation that comes from calculus at the beginning of the semester, and then apply it in economics. Textbook: The textbook package available at the bookstore is a specially designed combination of two books. It contains all of the following book: Perloff (2011): Microeconomics (with Calculus), 6 th ed. , Pearson. The package also contains an e-book with four chapters from the following book: Barnett, Ziegler, and Byleen (2008): Calculus for Business, Economics, Life Sciences, and Social Sciences, 12 th ed., Pearson. We will cover four chapters in the Barnett et al. book (3, 4, 5, and 8) at the beginning of the fall semester. We will use these chapters to learn how economic intuition comes from the math we use, and to learn how to handle partial derivatives, which to you will be an algebraic manipulation that you memorize for the specific functions we typically cover in economics. You will not learn calculus (though you might become interested in learning it later), nor do you need any calculus to take this course. Learning this single algebraic manipulation vastly increases the diversity of topics I can teach you in this course, and does not affect the level of algebra you need to be qualified to take the course.
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For example, you will learn about demand functions, which are defined as the amount of a good demanded by a consumer as a function of her income and the prices of available goods. When we teach the course without any partial derivatives, the only two types of demand functions you can solve are those that are called perfect complements (like shoes: when you demand one left shoe you also demand a right one) and perfect substitutes (the type of good where you always willing substitute exactly a constant amount of one good for another, no matter how much of either good you have: I’ll give up one hershey’s chocolate bar for one snickers, whether I have 1000 hershey’s and 1
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This note was uploaded on 02/27/2012 for the course BUSINESS 101 taught by Professor All during the Spring '09 term at McGill.

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CourseOutline23020111 - Professor Jim Engle-Warnick Office:...

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