Economics 2150A/B Lecture Notes - Sunk Costs, Aerospace Engineering, Perfect Competition

• School: Western University
• Department: Economics
• Course: Economics 2150A/B
• Professor: Kristin Denniston

Document Summary

Econ 2150 overview: consumer theory, theory of the demand curve, producer theory (firms choosing the level of inputs and types of inputs based on minimizing costs, perfect competition, what firms look like in a perfectly competitive environment. Econ 2151 overview: extend the model of perfect competition, special topics. Imperfect competition: modelling risk and uncertainty, modelling general equilibrium, externalities and public goods, signalling theory, health economics. The lecture notes are a supplement to the textbook to show you what the professor thinks is important. You will be tested on: basic concepts, math problems, graphs, you will be asked multiple choice questions on these basic concepts. Important dates: assignments due on, jan. 20, feb. 3, mar. 2: the first assignment will be posted next monday (due jan. 20) under. 10: midterm: february 10, 9:30-11:15 (in class, the midterm will include chapters 9, 10, and 13 (if we get that far, final exam: tbd, the final exam is cumulative.