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Introduction to Microeconomics
University of Alberta
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Browse the full collection of course materials, past exams, study guides and class notes for ECON101 - Introduction to Microeconomics at University of Alberta verified by our …

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Gordon Lee

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Gainer,Alexander

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Class Notes

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ECON101 Lecture Notes - Lecture 1: Infomercial, Multiple Choice, Monopolistic Competition

ECON101 Lecture Notes - Lecture 1: Road Rage, Pareto Efficiency, Allocative Efficiency

Economics is the study of the choices that people make and the actions they take in order to make the best use of scarce resources in meeting their wan

ECON101 Lecture 1: ECON 101 Lecture 1

ECON101 Lecture Notes - Lecture 2: Highway Patrol, Road Rage, Microeconomics

Econ 101 lecture 1: intro to economics (pre-read chapters 1 and 2) Economics = the study of the choices people make and the actions they take in order

ECON101 Lecture Notes - Lecture 2: Fallacy, Opportunity Cost

Monday september 10 " readings: chapter 1, 2, and 3. Economics is a social science which seeks to explain how people behave and act. Uses models, theor

ECON101 Lecture Notes - Lecture 3: Allocative Efficiency, Scientific Method, Opportunity Cost

Economics 101 lecture 2: introduction to microeconomics (pre-read chapters 1, 2 and 3) Allocation = the action or process of allocating or distributing

ECON101 Lecture 3: ECON 101 Lecture 3

ECON101 Lecture Notes - Lecture 4: Demand Curve

4 institutions all oftheseactivitiesaregovernedbya setofinstitutionslargelycreatedby thegovernmenttheseinstitutionsinclude r protection a individualist

ECON101 Lecture Notes - Lecture 4: Mixed Economy, Rationality, Opportunity Cost

Economics 101 lecture 4: production possibilities frontier (pre-read chapters 1, 2 and 3) Opportunity cost of 1 laptop of 1 pizza. Increase in work for

ECON101 Lecture 5: ECON 101 Lecture 5

ECON101 Lecture Notes - Lecture 5: Medical Necessity, Bitcoin

Topics covered in this lecture: market economy, circular flow diagram, demand. Main characteristics of market economies: self interest. These instituti

ECON101 Lecture 6: ECON 101 Lecture 6

Taxesare anadditiontoproduction costs andresult in decreasedsupply industrial migration intertemporalmigration shutdowntemporarilybecausefuturetaxwilll

ECON101 Lecture Notes - Lecture 6: Reservation Wage, Sports Game, Margarine

Economics 101 lecture 6: supply and demand. Variables affecting / influencing demand: number of buyers, as the number of buyers increases, demand incre

ECON101 Lecture Notes - Lecture 7: Statics, Apple Sauce, Equilibrium Point

Topi(cid:272)s co(cid:448)ered i(cid:374) toda(cid:455)"s le(cid:272)ture: supply, supply and demand equilibrium, comparative statics. Inputs include w

ECON101 Lecture Notes - Fall 2018 Lecture 8 - Invisible hand, Comparative statics, Demand curve

Topi(cid:272)s co(cid:448)e(cid:396)ed i(cid:374) today"s le(cid:272)tu(cid:396)e: comparative statics, supply and demand with the government. Comparat

ECON101 Lecture Notes - Lecture 9: Price Floor, Invisible Hand, Equilibrium Point

Topics co(cid:448)ered i(cid:374) toda(cid:455)"s lecture: other forces in the economy, price regulation (cid:862)economic forces ration commodities an

ECON101 Lecture 10: ECON 101 - Lecture 10: Elasticity of Demand

ECON101 Lecture 11: ECON 101 -_Lecture 11: Elasticity

ECON101 Lecture Notes - Lecture 12: Ceteris Paribus, Demand Curve

The satisfaction, happiness, or need fulfillment that consumers receive from the goods and services they consume. A measure of the relative levels of s

ECON101 Lecture Notes - Lecture 14: Demand Curve

Topi(cid:272)"s co(cid:448)e(cid:396)ed i(cid:374) todays le(cid:272)tu(cid:396)e: consumer equilibrium, individual demand curves, market demand curves

ECON101 Lecture Notes - Lecture 16: Economic Surplus, Demand Curve

Consumer surplus is the amount the consumer is willing to pay, minus the amount the consumer has to pay. It is a measure of the benefits the consumer g

ECON101 Lecture Notes - Lecture 17: Sole Proprietorship, Flat Tax, Double Taxation

ECON101 Lecture 18: ECONOMICS 101: Lecture 18 - Methods of Corporate Financing

Economics 101 lecture 18: methods of corporate financing. Thus, in ge(cid:374)eral, they (cid:449)ill ha(cid:448)e (cid:374)o say i(cid:374) the (cid:2

ECON101 Lecture 19: Economics 101: Lecture 19 - Production Theory

Outputs = the products that result form production. Inputs = the factors that are used to produce the outputs. There are four categories of inputs: lan

ECON101 Lecture Notes - Lecture 20: Sunk Costs, Fixed Cost

Economics 101: lecture 20 costs in the short run. Cost: consider absolute costs, sunk costs and not considered when making decisions. Accounting costs:

ECON101 Lecture Notes - Lecture 21: Average Variable Cost, Marginal Cost, Variable Cost

Economics 101 lecture 21: costs in the short and long run. Consider a firm where labour is the only variable input. Vc = w x l (variable cost = wage x

ECON101 Lecture Notes - Lecture 22: Perfect Competition, Marginal Revenue, Profit Maximization

The objective in economics is to maximize profits. In order to do this in the short run, the firm must follow two rules. Rule #1: a firm should produce

ECON101 Lecture Notes - Lecture 23: Profit Maximization, Perfect Competition

ECON101 Lecture Notes - Lecture 24: Perfect Competition, Allocative Efficiency, Natural Monopoly

Economics 101 lecture 24: perfect competition in the long run and. Equilibrium occurs when = 0 (profit = 0) or when p = mc = atc. Initially: s0, d0, p0

ECON101 Lecture Notes - Lecture 25: Complete Control, Natural Monopoly, The Seller

ECON101 Lecture Notes - Lecture 26: Demand Curve

ECON101 Lecture Notes - Lecture 27: Deadweight Loss, Allocative Efficiency, Resale Price Maintenance

ECON101 Lecture Notes - Lecture 29: Monopolistic Competition, Price Discrimination, Deadweight Loss

Economics 101: lecture 29 price discrimination and intro do monopolistic competition. Price discrimination occurs when different consumers are charged

ECON101 Lecture Notes - Lecture 33: Harold Hotelling, Product Differentiation, Oligopoly

In some cases, we have seen product variety diminish over time. An explanation for this comes from a famous example described by harold hotelling. A be

ECON101 Lecture Notes - Lecture 34: Strategic Dominance, Nash Equilibrium, Spotify

Economics 101 lecture 33: game theory examples. Firms attempt to maximize profits by acting in ways that minimize damage from competitors. Consider two

ECON101 Lecture 35: Cooperation, Competition and Concentration of Competition

ECON101 Lecture Notes - Lecture 37: Nash Equilibrium, Strategic Dominance

Firm 1 (6, 4) (8, 2) (-2, 17) (0, 6) (27, -1) (4, 3) (3, 0) (7, 7) Do backwards induction starting from the bottom of the tree, from the point of view

ECON101 Lecture Notes - Lecture 38: Marginal Revenue, Demand Curve, Opportunity Cost

ECON101 Lecture Notes - Lecture 39: Monopsony, W. M. Keck Observatory, Retained Earnings

Economics 101: lecture 39 differences in wages and monopsony. Differences in wages don"t really reflect the difference in value to society. Suppose ini

ECON101 Lecture Notes - Lecture 40: Marginal Revenue, Retained Earnings, Interest Rate

ECON101 Lecture Notes - Lecture 41: Monopolistic Competition, Profit Maximization, Monopsony

Economics 101: lecture 41 final exam information. 50 multiple choice questions: over 2 minutes per question. There are 4 practice final exams on the we