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ECN 104
Tom Barbiero

RYERSON UNIVERSITY DEPARTMENT OF ECONOMICS ECN104 INTRODUCTORY MICROECONOMICS FALL 2009 THIS COURSE IS A PROFESSIONALLY RELATED COURSE, NOT ELIGIBLE FOR LIBERAL STUDIES CREDIT EXCLUSION: C/ECN 110. Instructor: Dr. T. Barbiero Phone: 979-5000 ext. 6265 Email: [email protected] Office: JOR-231, Jorgenson Hall Office Hours: Wednesday 10-12 Thursday 12-1 At other times by appointment. Contact me via e-mail to make an appointment. The Faculty Course Survey will be administered in class between November 9-27, 2009. COURSE DESCRIPTION ECN104 is concerned with the concepts of supply and demand, and the decisions of households and firms. It includes a study of various market conditions: perfect competition, monopoly, monopolistic competition, and oligopoly. There will be weekly tutorials Mondays at 11:00 in our regular scheduled classroom where assigned problem sets will be taken up. REQUIRED TEXTS (Available in the Ryerson Bookstore): McConnell, C.R., Brue, S.L., and Barbiero, T.P., Microeconomics, eleventh Canadian Edition, McGraw-Hill Ryerson Limited, 2007. Shandler, Lance, iStudy Guide, McGraw-Hill Ryerson Limited, 2007. COURSE OUTLINE 1.) Introduction, Part I 1.1) the economic way of thinking 1.2) macroeconomics and macroeconomics 1.3) the individual’s and society’s economic problem 1.4) the production possibility model 1.5) unemployment, growth and the future 1.6) diagrams in economics Reference: Chapter 1 (including the appendix) 2.) Introduction, Part II 2.1) economic systems 2.2) five fundamental questions of economics and economic systems 2.3) circular flow model of a simplified modern economy References: Chapters 2 3.) Demand and Supply 3.1) definition of a market 3.2) demand and changes in quantity demanded versus changes in demand 3.3) supply and changes in quantity supplied versus changes in supply 3.4) interaction between demand and supply Reference: Chapter 3 (excluding the appendix) 4.) Elasticity and Further Topics in the Theory of Consumer Demand 4.1) elasticity own-price elasticity of demand own-price elasticity of supply income elasticity of dem
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