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Syllabus for ECON101 Mikko Packalen

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redhorse12
19 Jan 2022
School
University of Waterloo
Department
Economics
Course
ECON101
Professor
Mikko Packalen

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ECON101 Full Course Notes
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ECON101 Full Course Notes
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Document Summary

General government expenditures as a percentage of gdp. Course introduction: governments of industrialized countries take part in a wide range of economic activities. Much of economics seeks to uncover whether this extensive government involvement benefits or hurts these countries" citizens. Economic rationales for government involvement in economic activity motivate our study of consumer choice, competitive and strategic interaction, markets, taxation, production, trade, and welfare measurement. In week 1 we learn about how economists model behavior. The focus is the rational behavior assumption and marginal analysis: by week 4 we will learn why economists favor allocation of resources through markets over allocation by command and control. The concepts covered during weeks 5-8 include the utility function, game theory, payoff matrix, best response, nash equilibrium, extensive-form game-tree, subgame- perfect nash equilibrium, backward induction, externalities, taxes, and subsidies. [1/7: by week 11 we will learn why economists believe that generally more competition is good for society.

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Related Questions

In 1990, the 789 million people in Europe lived in 25 different countries ranked as follows ( in millions): Russia 292, West Germany 59, Italy 58, Britain 56, France 56, Spain 39, Poland 39, Romaina 24, Yugoslavia 24, East Germany 17, Czechoslovakia 16, Holland 15, Hungary 11, Portugal 11, Belgium 11, Greece 9, Bulgaria 9, Sweden 8, Austria 8, Switzerland 6, Denmark 5, Finland 5, Norway 4, Ireland 3, Albania 3.  Explain this scenario. 

Determine whether each of the following topics would more likely be studied in microeconomics or macroeconomics;

a.The effect of government regulation on a monopolist's production decisions.

b.The government's decision on how much to spend on public projects.

c.The effects of the Internet on the pricing of used cars.

Students are to select a country from the following country list. If you are an international student, you may not choose your home country or the home country of your spouse.

Country List: India, Canada, Great Britain, Nigeria, Japan, Viet Nam, Norway, Pakistan, Sweden, Switzerland, Austria, Indonesia, Spain, Denmark, Ireland, France, Portugal, China, Saudi Arabia, South Africa, Taiwan, Peru, Malaysia, Singapore, Romania, Argentina, Brazil Russia, Thailand, Poland, Mexico, and Hungary.

Write your choice of country and explain what main products and services are a good fit to produce in your chosen country.