Thompson Rivers University, Open Learning (TRUOL) (Thompson Rivers University) BC Centre for Open L
introduction to microeconomics
ECON 1950

Summer 2015
Supply and Demand Problems
1) Q=2000  100 P, where Q is cap sales and P is price.
A. how many caps could be sold at $ 12 each?
Q = 2000100(12)
Q = 800 caps
B. what should the price be in order the company to sell 1000 caps?
1000 =2000  100 P
100 P = 10
Thompson Rivers University, Open Learning (TRUOL) (Thompson Rivers University) BC Centre for Open L
introduction to microeconomics
ECON 1950

Summer 2015
PART I
SUPPLEMENTAL TEACHING AIDS
Contents Part
A. Notes on Using the Internet.1
B. Useful Internet Links .4
C. Course Organization Plans.4
D. Sample Syllabus for a 15Week Semester Meeting Two Days per Week.6
E. Classroom Projects.8
F. Student Projects.9
Thompson Rivers University, Open Learning (TRUOL) (Thompson Rivers University) BC Centre for Open L
introduction to microeconomics
ECON 1950

Summer 2015
Ursinus College
BE 100 Global Economics
MWF 8:40 9:50 am Bomberger 11
Dr. Jennifer VanGilder
Spring 2007
Office: Bomberger 311
Phone: 6104093000 x2685
Office Hours: MWF 12:00 1:00; T 1:00  2:30; F 10:00 11:00; and by appointment
Email: [email protected]
Thompson Rivers University, Open Learning (TRUOL) (Thompson Rivers University) BC Centre for Open L
introduction to microeconomics
ECON 1950

Summer 2015
Contents
Introduction.iv
PART I: SUPPLEMENTAL TEACHING AIDS1
PART II: INSTRUCTORS NOTES ON TEXT CASES.67
PART III: TEACHING OBJECTIVES, COMMENTS AND SUGGESTIONS, LECTURE
OUTLINES, ANSWERS FOR ENDOFCHAPTER QUESTIONS.155
Chapter 1: The Scope and Challenge
Thompson Rivers University, Open Learning (TRUOL) (Thompson Rivers University) BC Centre for Open L
introduction to microeconomics
ECON 1950

Summer 2015
Dear all,
I have to change my office hours this week. Below please find my office hours (ONLY
this week):
Monday (October 31) 12.00 13.00 Room #112 (Burnaby Campus)
Tuesday (November 1) 15.00 16.00 Room #101 (Vancouver Campus)
Cheers,
Azadeh
Thompson Rivers University, Open Learning (TRUOL) (Thompson Rivers University) BC Centre for Open L
introduction to microeconomics
ECON 1950

Summer 2015
Alexander College Econ295
Full Name:
Student ID:
Assignment 1 (Chapters 1, 2, 3, & 4)
1. (3 Points) You are the human resources manager for a famous retailer, and you are trying to convince
the president of the company to change the structure of empl
Thompson Rivers University, Open Learning (TRUOL) (Thompson Rivers University) BC Centre for Open L
introduction to microeconomics
ECON 1950

Summer 2015
Dear all,
th
The Final exam will be on December 14 , 2016 (Wednesday) at 2.45 p.m. The test will be on all
the materials that we have covered in this course (it will be cumulative). Check out the syllabus!
1. Please feel free to email me if you have any q
Thompson Rivers University, Open Learning (TRUOL) (Thompson Rivers University) BC Centre for Open L
introduction to microeconomics
ECON 1950

Summer 2015
Dear all,
th
Quiz 2 will be on November 16 , 2016 (Wednesday) during our lecture time. The test will be on
all the materials of chapters 610.
1. Please feel free to visit me during my office hour (it is posted under my syllabus) if you have
any questions
Thompson Rivers University, Open Learning (TRUOL) (Thompson Rivers University) BC Centre for Open L
introduction to microeconomics
ECON 1950

Summer 2015
Assignment II
Note: This assignment should be accomplished by group. Each group
can have a maximum of 3 members.
Questions and cases:
# 1 Problem 4.17 p. 167
# 2 Problem 4.61 p. 180
# 3 Managing Ashland MultiComm Services p. 213 Item 1 and 2 Only
# 4 Mana
Thompson Rivers University, Open Learning (TRUOL) (Thompson Rivers University) BC Centre for Open L
introduction to microeconomics
ECON 1950

Summer 2015
Hello all,
Two important notes:
For the workshop registration: On the drop down menu when you sign into
your WLC accounts, you should select #12. Citation Workshops for APA and
#14. Econ Math for the econ math workshops.
Please print the last page of the
Thompson Rivers University, Open Learning (TRUOL) (Thompson Rivers University) BC Centre for Open L
introduction to microeconomics
ECON 1950

Summer 2015
Hello all,
Welcome to Spring 2017. I am a member of articulation committee and I represent Alexander
College in this committee. We have meetings annually. This year our meeting is in Victoria on
May 1st and 2nd. Articulation committee plays an important r
Thompson Rivers University, Open Learning (TRUOL) (Thompson Rivers University) BC Centre for Open L
introduction to microeconomics
ECON 1950

Summer 2015
Assignments rules:
1. Staple
2. Write your full name (first name, family name, and nick name)
3. Write down your student ID
4. Print out the questions (ONESIDED) and write your answer under each
question. Do not
Thompson Rivers University, Open Learning (TRUOL) (Thompson Rivers University) BC Centre for Open L
introduction to microeconomics
ECON 1950

Summer 2015
ECON 1901: Module 2 Assignment
1.
Explain fully the difference between an increase in demand and an increase in quantity
demanded. Be sure to explain increase, not change or decrease. Provide at least four
reasons for an increase in demand. Use appropriat
Thompson Rivers University, Open Learning (TRUOL) (Thompson Rivers University) BC Centre for Open L
introduction to microeconomics
ECON 1950

Summer 2015
ECON 1901: Module 5 Assignment
1. Use the law of supply caused by firms experiencing increasing marginal cost in the short
run to explain why all producers must receive a surplus whenever they produce and sell
more than one unit of a product but may recei
Thompson Rivers University, Open Learning (TRUOL) (Thompson Rivers University) BC Centre for Open L
introduction to microeconomics
ECON 1950

Summer 2015
ECON 1901: Module 6 Assignment
1. Explain why both monopolies and perfectly competitive firms produce the output where
MR = MC. Since MR = MC for both monopolies and perfectly competitive firms, why is the profitmaximizing price based on MR = MC higher th
Thompson Rivers University, Open Learning (TRUOL) (Thompson Rivers University) BC Centre for Open L
introduction to microeconomics
ECON 1950

Summer 2015
ECON 1901: Module 4 Assignment
1. What is the relationship between Pigovian taxes and market failure? How do Pigovian
taxes internalize externalities? Suppose that we are able to identify that the external cost of
driving cars is $5,000. How can we use a
Thompson Rivers University, Open Learning (TRUOL) (Thompson Rivers University) BC Centre for Open L
introduction to microeconomics
ECON 1950

Summer 2015
ECON 1901: Module 7 Assignment
1. Explain two important differences between the labour market and the product market.
2. Explain why the value of the marginalproduct curve for labour is also the demandforlabour
curve in a perfectly competitive labour m
Thompson Rivers University, Open Learning (TRUOL) (Thompson Rivers University) BC Centre for Open L
introduction to microeconomics
ECON 1950

Summer 2015
ECON 1901: Module 1 Assignment
1. Explain the concept of opportunity cost. Provide a simple example for an economy and a
simple example for an individual. How is it related to scarce resources? Explain scarce
resources for an economy and for individuals.
Thompson Rivers University, Open Learning (TRUOL) (Thompson Rivers University) BC Centre for Open L
ECONOMICS AND BUSINESS STATS
ECON 2330

Winter 2017
Chapter 4
Introduction to Probability
Experiments, Counting Rules,
and Assigning Probabilities
Events and Their
Probability
Some Basic
Relationships
of
Probability
Conditional Probability
Bayes Theorem
Learning Objectives
At the end of the chapter student
Thompson Rivers University, Open Learning (TRUOL) (Thompson Rivers University) BC Centre for Open L
ECONOMICS AND BUSINESS STATS
ECON 2330

Winter 2017
Chapter 6 Continuous Probability Distributions
Chapter Topics:
Uniform Probability Distribution
Normal Probability Distribution
Normal Approximation of Binomial Probability
Distribution
Exponential Probability Distribution
f (x)
Uniform
f (x)
x
f (x) Expo
Thompson Rivers University, Open Learning (TRUOL) (Thompson Rivers University) BC Centre for Open L
ECONOMICS AND BUSINESS STATS
ECON 2330

Winter 2017
Chapter 5 Topics
Discrete Probability Distributions
.40
Random
.30
Variables
.20
Expected Value and Variance
.10
Discrete Probability Distributions
0
1
Binomial Probability Distribution
Poisson Probability Distribution
Hypergeometric Probability Dis
Thompson Rivers University, Open Learning (TRUOL) (Thompson Rivers University) BC Centre for Open L
ECONOMICS AND BUSINESS STATS
ECON 2330

Winter 2017
Chapter 3
Descriptive Statistics: Numeric al Measures
Measures of Location
Measures of Variability
Learning Objectives
1. Understand the purpose of measures of location.
2.Be able to compute the mean, median, mode, quartiles, and
various percentiles.
3.
Thompson Rivers University, Open Learning (TRUOL) (Thompson Rivers University) BC Centre for Open L
ECONOMICS AND BUSINESS STATS
ECON 2330

Winter 2017
Chapter 1
Data and Statistics
I need help!
Why Study Statistics?
Applications in Business and Economics
Data
Data Sources
Descriptive Statistics
Statistical Inference
Computers and
Statistical Analysis
Learning Objectives
1. Understand why we study
Thompson Rivers University, Open Learning (TRUOL) (Thompson Rivers University) BC Centre for Open L
Intoduction to micro economics
ECON 1951

Summer 2015
Answer to Comparative advantage and trade practice question
The following Table illustrates the maximum output in the production of Lumber and Wheat for
Country A and Country B assuming that only that one good is being produced.
Wheat
Lumber
Country A
Lum
Thompson Rivers University, Open Learning (TRUOL) (Thompson Rivers University) BC Centre for Open L
Intoduction to micro economics
ECON 1951

Summer 2015
Module 2 Assignment
1.
Demand refers to the entire relationship between prices and the quantity of this product
or service that people want at each of these prices.
With an increase in quantity demanded
the price of the product decreases.
There has been
Thompson Rivers University, Open Learning (TRUOL) (Thompson Rivers University) BC Centre for Open L
Intoduction to micro economics
ECON 1951

Summer 2015
Module 1 Assignment
Answer 1
Opportunity cost is the cost of next best alternative. It is related to the principle of The
cost of something is what you give up to get it. In all the decision humans make, we
make choices and we choose something over the ot