Verified Documents at University of Waterloo

Browse the full collection of course materials, past exams, study guides and class notes for ECON101 - Introduction to Microeconomics at University of Waterloo verified by our …
PROFESSORS
All Professors
All semesters
Nafeez Fatima
fall
73
Elshan Alekberov
fall
1
Wang,Sining
winter
5

Verified Documents for Nafeez Fatima

Class Notes

Taken by our most diligent verified note takers in class covering the entire semester.
ECON101 Lecture 1: ECON STUDY GUIDE CHAPTER ONE
Text: scarcity + incentives: alfred marshall: methodological individualism , keynes: economic way of thinking , robbin: relationship between scarce mea
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ECON101 Lecture 2: ECON STUDY GUIDE CHAPTER TWO
The economic way of thinking: scarcity, choices + tradeoffs, benefits + costs (marginal analysis, rationality. Production possibility frontier (ppf) us
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ECON101 Lecture 2: IMG_2941
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ECON101 Lecture 2: IMG_2939
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ECON101 Lecture Notes - Lecture 2: John Maynard Keynes, Warren Buffett, Neoclassical Economics
What is the definition of economics: our wants and our desires = unlimited, esources = limited (both renewable and non renewable) (view specially held
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ECON101 Lecture 2: IMG_2940
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ECON101 Lecture 2: IMG_2937
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ECON101 Lecture 2: IMG_2935
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ECON101 Lecture 2: IMG_2938
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ECON101 Lecture 2: IMG_2936
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ECON101 Lecture 3: IMG_2944
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ECON101 Lecture Notes - Lecture 3: Marginal Utility, Marginal Cost, Opportunity Cost
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ECON101 Lecture 3: IMG_2942
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ECON101 Lecture 3: IMG_2945
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ECON101 Lecture 3: IMG_2946
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ECON101 Lecture 3: IMG_2947
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ECON101 Lecture 3: IMG_2943
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ECON101 Lecture 3: IMG_2948
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ECON101 Lecture 4: IMG_2949
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ECON101 Lecture 4: IMG_2950
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ECON101 Lecture 4: IMG_2952
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ECON101 Lecture Notes - Lecture 4: Marginalism, Negative Relationship, Economic Model
Sept 18: graphs used in econ models: relationship b/w two variables, positive relationship (direct, three forms: linear, becoming steeper (convex), bec
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ECON101 Lecture 4: IMG_2951
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ECON101 Lecture 4: IMG_2953
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ECON101 Lecture 5: IMG_2956
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ECON101 Lecture 5: IMG_2954
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ECON101 Lecture 5: IMG_2958
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ECON101 Lecture 5: IMG_2957
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ECON101 Lecture 5: IMG_2955
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ECON101 Lecture Notes - Lecture 5: Unnecessary Health Care, Marginal Utility, Marginal Cost
Increasing opportunity cost of production is described by the concave graph. Marginal benefit & cost: marginal cost is the opportunity cost of cons
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ECON101 Lecture 6: IMG_2970
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ECON101 Lecture Notes - Lecture 6: Relative Price, Demand Curve, Perfect Competition
Considered the most important economic model i. e. microeconomic model. Set of assumptions must be made when graphing this model i. e. building it. A m
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ECON101 Lecture 7: IMG_2961
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ECON101 Lecture 7: IMG_2960
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ECON101 Lecture 7: IMG_2959
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ECON101 Lecture 7: IMG_2962
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ECON101 Lecture Notes - Lecture 7: Frozen Yogurt, Complementary Good, Marginal Cost
Change in quantity demanded: change in price and movement along the curve. Change in demand causes entire curve to shift as opposed to movement along t
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ECON101 Lecture 8:
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ECON101 Lecture 8:
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ECON101 Lecture 8:
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ECON101 Lecture 8:
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ECON101 Lecture 8:
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ECON101 Lecture 8: lecture 7
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ECON101 Lecture 8:
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ECON101 Lecture 8:
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ECON101 Lecture 8:
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ECON101 Lecture Notes - Lecture 9: Demand Curve
Relationship between price elasticity of demand and total revenue. Factors that affect price elasticity of demand. Demand represents entire relationshi
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ECON101 Lecture 9: IMG_2931
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ECON101 Lecture 9: IMG_2893
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ECON101 Lecture 9: IMG_2932
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ECON101 Lecture 9: IMG_2892
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ECON101 Lecture 9: IMG_2894
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ECON101 Lecture 9: IMG_2930
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ECON101 Lecture 10: Chapter 10
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ECON101 Lecture 10: Chapter 10
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ECON101 Lecture 10: Chapter 10
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ECON101 Lecture 10: Chapter 10
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ECON101 Lecture 10: Chapter 10
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ECON101 Lecture 10: Chapter 10
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ECON101 Lecture 10: Chapter 10
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ECON101 Lecture Notes - Lecture 11: Marginal Utility, Normal Good, Indifference Curve
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ECON101 Lecture Notes - Lecture 13: Budget Constraint, Real Income, Relative Price
The budget line shows the various constraints of these two goods the consumer can afford given his/her income and prices of the good. The budget constr
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ECON101 Lecture Notes - Lecture 14: Demand Curve, Neuroeconomics, Budget Constraint
Pick a bundle from the affordable set that either maximises the combined total utility or where the marginal utility per dollar spent are equal. The la
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ECON101 Lecture Notes - Lecture 15: Indifference Curve, Equilibrium Point, Substitute Good
Chapter 8, the theory of consumer choice (a recap): Hypothetical consumer: lisa (rational and self interested) Two prices: pm and pp income : y. S. t.
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ECON101 Lecture 16: lecture 16
Graph 1: decrease in $ of movies graph 2: increase in income. A move from a to b is called the price effect. The law of demand predicts that there is a
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ECON101 Lecture Notes - Lecture 17: Opportunity Cost, Economic Efficiency, Physical Capital
Chapter 10: organizing production and output and costs prof nafeez fatima. The economic profit = total revenue total cost. Total cost = total revenue t
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ECON101 Lecture 18: lecture 16
Explain the major advantages and disadvantages of each: the three types of business organizations, sole proprietorship single owner of firm. Unlimited
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ECON101 Lecture 19: lecture 19
Humans are inherently loss aversive, normally act irrationally when making economic decisions. E. g. if you paid for a movie, and it turns out the movi
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ECON101 Lecture Notes - Lecture 20: Production Function, Marginal Product, Market Power
Lecture 20: difference between short run and long run: In the short run, at least one of the inputs is fixed. In the long run, all inputs are variable.
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ECON101 Lecture Notes - Lecture 21: Profit Maximization
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ECON101 Lecture Notes - Lecture 23: Marginal Revenue, Natural Monopoly, Demand Curve
Long run price is equal to average revenue or some shit. Efficient use of resources - discussed in chapter 6 changing tastes and advancing tech. If you
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ECON101 Lecture Notes - Lecture 24: Monopolistic Competition, Capitalization Rate, Price Discrimination
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ECON101 Lecture Notes - Lecture 25: Repeated Game, Demand Curve, Oligopoly
The demand curve is kinked at the current price and quantity. The firm assumes that if it raises its price, no price will change the price. The firm as
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