Introduction to Microeconomics: A Mathematical Approach
MGEA A02

Fall 2012
Globalization is a trade
Various companies trading worldwide
Movement of capital products
Globalization leads to individualism
Job loss in developed countries
Under developed countries create more jobs
Jobs developed  jobs undeveloped
Movement towards
Introduction to Microeconomics: A Mathematical Approach
MGEA A02

Fall 2012
Nancy Zuo
Oct.13th 2015
ENG4U
Mr.luxenburg
Essay rough copy
Topic: Betrayal and Redemption: how it the theme of betrayal and redemption
important to the story arc in the novel? Make a list of instances in the novel where
someone is forgiven. What constitu
Introduction to Microeconomics: A Mathematical Approach
MGEA A02

Fall 2012
With the development of market economy, modern
corporations are confronted with more and more
drastic competitive environments. Because of
severe competition and market saturation, it is more
and more difficult for companies to acquire new
customers. Faci
Introduction to Microeconomics: A Mathematical Approach
MGEA A02

Fall 2012
Account Name
1 Property, Plant, Equipment
Cash
Long Term Debt
Common Shares
Bought Arena and financed it through shares, longterm debt, and cash
2 Cash
Accounts Receivable
Arena Revenue
Pro Shop and Restaurant Revenue
Amount of Revenue earned during the
Introduction to Microeconomics: A Mathematical Approach
MGEA A02

Fall 2012
Nancy Zuo
Oct.13th 2015
ENG4U
Mr.luxenburg
Essay rough copy
Topic: Betrayal and Redemption: how it the theme of betrayal and redemption
important to the story arc if the novel? Make a list of instances in the novel where
someone is forgiven. What constitu
Introduction to Microeconomics: A Mathematical Approach
MGEA A02

Fall 2012
Some people say children no longer need to develop handwriting skills. Others
believe that handwriting is still important. Discuss both these views and give your
own opinion.
Brainstorm:
Agree: heritage of culture; increase the awareness of roots
Disagree
Introduction to Microeconomics: A Mathematical Approach
MGEA A02

Fall 2012
Topic 7
FirsT midTerm TesT 
Monday, November 2"d aT 5 pm.
Where do I go? Look on Blackboard
WhaT's on The TesT?
This week: PerfecT CompeTiTion
A Type of markeT  a markeT sTrucTure"
When There is considerable compeTiTion
beTween a large number of produc
Introduction to Microeconomics: A Mathematical Approach
MGEA A02

Fall 2012
w
[:90 I3 
MGEAOZ  Topic 10
OLIGOPOLV H
W
Oligopoly is a markeT in which There are
only a few Sellers.
How many?
.50 few ThaT They feel The effecTs of
each oTher's decisions.The profits of
each firm will depend on The sTraTegy
followed by iTs compeTiTor
Introduction to Microeconomics: A Mathematical Approach
MGEA A02

Fall 2012
Administrative matters first:
0 Course Evaluations  Do them now, please!
a The Final Exam 
When?: Thursday, December 17th"'1 
2 pm.  5 pm.
Where?: in various locations (check the
Blackboard site in another week or So)
What format? 40 MC and 2 short an
Introduction to Microeconomics: A Mathematical Approach
MGEA A02

Fall 2012
Topic 4  Elasticity, Tax Incidence and What difference does elasticity (of demand)
0 Tax Burden make? Example.university education
A key characteristic of demand and supply
curves!  Elasticity
Elasticity = sensitivity or reponsiveness
Changes in one var
Introduction to Microeconomics: A Mathematical Approach
MGEA A02

Fall 2012
Topic 11 MGEAOZ
Externalities and Public Goods
An externality is created when an action (e.g.,
buying or selling a good) affects bystanders
as well as market participants.
(bystander = other member of society, not
participating in the purchase and sale th
Introduction to Microeconomics: A Mathematical Approach
MGEA A02

Fall 2012
/
F.
MGEAOZ
Topic 5
Production, Productivity and Costs
Production, productivity and costs
Basic objective.understand diminishing
marginal productivity and how this
affects the shapes of Typical cost
curves in short run.
Why? To understand the supply curve
Introduction to Microeconomics: A Mathematical Approach
MGEA A02

Fall 2012
MGEAOZ  Topic 8
Perfect Competition in the Long Run
This week: _
 What defines longrun equilibrium in a
perfectly competitive market?
What is different for the firm and the
industry in longrun equilibrium?
 Is perfect competition good for society
 d
Introduction to Microeconomics: A Mathematical Approach
MGEA A02

Fall 2012
Topic #3  Demand and Utility
7 Explaining/Exploring Demand Curves
(Parts of Chapter 10 and Chapter 4 in
Krugman, 2" Canadian edition)
Why are demand curves negatively sloped? (i.e.,
why do people buy less when price is high and
more when price is low?)
H
Introduction to Microeconomics: A Mathematical Approach
MGEA A02

Fall 2012
TUTORIALS
Your tutorials are scheduled on the same day each week (different days for diererzt
students). Tutorial questions are printed below. The first tutorials start Thursday,
September 10
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1.
2.
3.
4.
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at mama: m.
W4) : t
Introduction to Microeconomics: A Mathematical Approach
MGEA A02

Fall 2012
MGEA02H
First Term Test  October 25, 2014
Professors Gordon Cleveland and Jack Parkinson
Time: 90 minutes
Version A
Instructions: PLEASE READ CAREFULLY
1. On the Scantron answer sheet, you must
PRINT your last name and first name
enter your student num
Introduction to Microeconomics: A Mathematical Approach
MGEA A02

Fall 2012
ECMA04F
First Term Test  October 10, 2003
Profs. Michael Krashinsky and Gordon Cleveland
PRINT CLEARLY
NAME:
Time: 90 minutes
_ _
(Last name)
(First name)
STUDENT NUMBER:
_
TUTORIAL TIME:
_
(Write down the time and day of the tutorial you regularly atten
Introduction to Microeconomics: A Mathematical Approach
MGEA A02

Fall 2012
Room:
MGEA02 Introduction to Microeconomics: A Mathematical Approach
SAMPLE Midterm
Last name/Family name: _
First name: _
ID#: _
Date & Time: Study time
Instructor:
Aids Allowed: Nonprogrammable calculator
Time Allowed: 90 minutes
Total number of pages
Introduction to Microeconomics: A Mathematical Approach
MGEA A02

Fall 2012
ECMA04H
First Term Test  October 17, 2012
Time: 90
minutes
Professors Michael Krashinsky and Jack Parkinson
Version A
Instructions: PLEASE READ CAREFULLY
1. On the Scantron answer sheet, you must
PRINT your last name and first name
enter your student n
Introduction to Microeconomics: A Mathematical Approach
MGEA A02

Fall 2012
MGEA02H
Term Test November 2, 2015
Time: 90
minutes
and Jack
Parkinson
Professors Gordon Cleveland
Version A
Instructions: PLEASE READ CAREFULLY
1. On the Scantron answer sheet, you must
PRINT your last name and first name
enter your student number as t
Introduction to Microeconomics: A Mathematical Approach
MGEA A02

Fall 2012
MGEA02H
First Term Test  October 21, 2013
Time: 90
minutes
Professors Gordon Cleveland and Jack Parkinson
Version A
Instructions: PLEASE READ CAREFULLY
1. On the Scantron answer sheet, you must
PRINT your last name and first name
enter your student num
CHAPTER 1
Microeconomics:
A Working Methodology
11
A Water Shortage Problem
An imaginary island is subdivided into 100home
Estates
Water for these homes comes from several wells
owned by the Estates Water District at a total
cost of $50 000 per year
Introduction to Microeconomics: A Mathematical Approach
MGEA A02

Fall 2014
MS; :Mgg MW) What policies can government adopt to reduce
f'icarbon
Regulation (command and control policieS):
— banning of incandescent light bulbs in 2012
 close coalfired electricity plants
 upgrade building insulation standards
 upgrade emission
Introduction to Microeconomics: A Mathematical Approach
MGEA A02

Fall 2014
Canada has The comgara’rive advan’rage in W.
Mexico has The compara’rive advantage in 5.
21 Con both countries benefit from Trade?
Sifuaﬁon ''?=(under _
Total world output zi‘ZEDWhea’rigoy/beans
22 Lei each coum‘r'Y in producing The
good in whic
Introduction to Microeconomics: A Mathematical Approach
MGEA A02

Fall 2014
Last class (for us, Thursday T_h§ week)
When?: Monday, December 15Th (9 am  12 noon)
Where?: in various loca’rions (check Blackboard)
WhaT forma’r? 40 MC and 2 shor’r answer
‘5? (TBA)
*‘of'fice'i": (also TBA)
‘ﬂﬂmWWM —+
f  Next Monday is The la
Introduction to Microeconomics: A Mathematical Approach
MGEA A02

Fall 2014
What would happen if The firms cooperate
*0
This is an easy problem, since oquuT cos’rs
$2 per uni’r To produce, no ma’rTer who
produces if. 50 TC : ZQT
Join? profiTs Z PXQT " ZQT = TRT  TCT
= [(14 " QT)XQT] ' ZQT
= 14QT  QTZ — 2QT
Maximize We dQT 214—