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Verified Documents at University of Connecticut

Browse the full collection of course materials, past exams, study guides and class notes for ECON 1201 - Principles of Microeconomics at University of Connecticut verified by our …
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PROFESSORS
All Professors
All semesters
Derek Johnson( S I)
fall
4
Owen Svalestad
fall
31
spring
1
Derek Johnson
fall
36
D. Johnson
spring
2

Verified Documents for Derek Johnson

Class Notes

Taken by our most diligent verified note takers in class covering the entire semester.
ECON 1201 Lecture Notes - Lecture 7: Opportunity Cost
234
ECON 1201 Lecture Notes - Lecture 9: Price Floor, Economic Surplus, Deadweight Loss
Econ 1201 , lecture 9 , shared economy. Business that create online platforms where individuals can share their possessions/assets or market their skil
338
ECON 1201 Lecture 10: Economic 1201 Lecture 10 note demand elasticity
230
ECON 1201 Lecture 10: ECON 1201 , Lecture 10 , Elasticity
Elasticity changes in price, income, and pricing of other goods. Measure of how responsive or sensitive consumers/producers are to. % px (perfectly ine
266
ECON 1201 Lecture 10: Elasticity (Midpoint Method)
232
ECON 1201 Lecture 11: Economic Lecture 11 note The price elasticity of supply
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ECON 1201 Lecture 11: Examples of Elasticity
227
ECON 1201 Lecture 12: shared economy and price controls
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ECON 1201 Lecture 12: Shared Economy and Gains from Trade
221
ECON 1201 Lecture Notes - Lecture 13: Deadweight Loss, Price Ceiling, Price Support
Econ 1201 , lecture 13 , price controls. Deadweight loss represents the loss to society. What is the loss to society when we are not producing at the s
232
ECON 1201 Lecture 13: Price Controls (Rent Control and Deadweight Loss)
217
ECON 1201 Lecture 14: price control and minimum wages
332
ECON 1201 Lecture 14: Examples of Price Controls (Rent Controls and Minimum Wage)
217
ECON 1201 Lecture Notes - Lecture 14: Deadweight Loss, Price Ceiling, Price Floor
Econ 1201 , lecture 14 , price controls. Goods still must be rationed: waiting lists, black market. Deadweight losses (loss of gains from trade) The on
233
ECON 1201 Lecture 15: Demand and supply application: Taxes
316
ECON 1201 Lecture 15: Minimum wage and Intro to Taxes
232
ECON 1201 Lecture Notes - Lecture 17: Deadweight Loss, Tax Incidence, American Broadcasting Company
Statutory burden - who is responsible for collecting and paying tax to government. Economic burden - who is responsible for paying the tax , economic l
237
ECON 1201 Lecture 17: Taxes and Externalities
Announcements: johnson will be hosting extraordinary achievement sessions every. Wednesday 4:30-6:00 (tips to get this extra credit: do better on your
223
ECON 1201 Lecture 17: Taxation and Externalities
429
ECON 1201 Lecture 18: Externalities
Positive externalities: benefit that bystanders receive: electricity generation, education, flu vaccinations. Negative externalities: hurt bystanders:
331
ECON 1201 Lecture 18: Positive/negative externality and reasons
429
ECON 1201 Lecture Notes - Lecture 18: Deadweight Loss, Tax Incidence, American Broadcasting Company
Statutory burden - who is responsible for collecting and paying tax to government. Economic burden - who is responsible for paying the tax , economic l
527
ECON 1201 Lecture Notes - Lecture 19: Pigovian Tax, Transaction Cost, Externality
: if transaction costs are low or zero, there will be negotiations to correct. Two rights: right to pollute vs. right to be free of pollution. Cost for
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ECON 1201 Lecture 19: solutions to the externalities
418
ECON 1201 Lecture Notes - Lecture 20: Marginal Utility, Marginal Cost, Externality
If transaction costs are zero or low, we expect the efficient outcome regardless of the initial cost. Example: cost to abate is k, damage/pollution cos
321
ECON 1201 Lecture Notes - Lecture 20: Yle
329
ECON 1201 Lecture Notes - Lecture 21: Pigovian Tax, Sulfur Dioxide, Externality
Optimal level of pollution is not zero, mc is cost to abate. Put a tax to lower costs, where mc=mb. At low level of pollution, companies will pay the t
234
ECON 1201 Lecture 21: Public good and review for externality
327
ECON 1201 Lecture 22: short run and long run in Economies/Diseconomies of scale
533
ECON 1201 Lecture 22: Cost Concepts
At least one factor of production is fixed. All of the inputs or factors of production are varied. From average cost, we can determine total costs. Mar
321
ECON 1201 Lecture Notes - Lecture 23: Rice Krispies, Lyft, Monopolistic Competition
In order to survive, you need scale, scope and access to capital. Blue shift: you need to be a large dealer to keep up with the market. If you are not
228
ECON 1201 Lecture 23: Market and Market Structure
334
ECON 1201 Lecture 24: Market Structure about whether to produce
452
ECON 1201 Lecture 25: Price searchers and Monopoly
324
ECON 1201 Lecture Notes - Lecture 27: T.J. Maxx, Market Power, Nordstrom
Relatively few producers (think about wireless carriers, there are only 4 companies that control 98% of the market) These producers consider each other
328
ECON 1201 Lecture Notes - Lecture 28: Monopolistic Competition, Natural Monopoly, Pharmaceutical Industry
Earn lots of money and continue to earn over time. Government blocks entry of more than one firm. Patents : exclusive right for 20 years to be the sole
321