Assignments for PARKES' Principles of Microeconomics class, Section 9, Spring 2018



        [Home Page]





     PAST ASSIGNMENTS:


                          Week 14

                April 24, 2018      Review the Exam and Begin Oligopoly discussion
                April 26, 2018      Chapter 17: Oligopoly Continued

                • Oligopoly - an introduction
                  • Markets with only a few sellers
                    • A Duopoly Example
                    • Competition, Monopolies, and Cartels
                    • Nash Equilibrium
                    • How the size of an Oligopoly affects the Market Outcome
                  • The Prisoner' Dilemma
                  • Public Policy toward Oligopolies
                • PowerPoint for Chapter 17: Oligopoly



                          Week 13

                April 17, 2018      Finish Monopolistic Competition and Review

                • REVIEW for EXAM 3


                • Finish Chapter 16: Monopolistic Competition
                  • Between Monopoly and Perfect Competition
                    • Many Sellers, Product Differentiation, and Free Entry and Exit
                    • Competition with Differentiated Products
                  • The Firm's Short-Run Decisions: Profit, Loss, and Breakeven
                  • Excess Capacity and Markup over Marginal Cost
                • Advertising: Quality and Brand Names
                • PowerPoint for Chapter 16: Monopolistic Competition


                April 19, 2018      EXAM 3: 13 - 16


                          Week 12

                April 10, 2018      Chapter 15: Monopoly
                April 12, 2018      Chapter 15: Monopoly and Chapter 16: Monopolistic Competition

                • Chapter 15: Monopoly
                  • Why Monopolies Arise
                    • Monopoly Resources - DeBeers
                    • Government Created Monopolies
                    • Natural Monopolies
                  • Profit and Loss in Monopoly
                  • How Monopolies Make Production and Pricing Decisions
                    • Monopoly versus Competition
                    • A Monopoly's Revenue
                    • Profit Maximization
                    • A Monopoly's Profit/Loss
                  • Price Discrimination
                  • Quiz #16: Profit and Loss in Monopoly
                • PowerPoint for Chapter 15: Monopoly


                          Week 11

                April 3, 2018      Chapter 14: Firms in Competitive Markets

                • Chapter 14: Firms in Competitive Markets
                  • What is a Competitive Market?
                    • The Meaning of Competition
                    • The Revenue of a Competitive Firm
                    • Marginal Revenue and Average Revenue
                  • Profit Maximization and the Competitive Firm's Supply Curve
                    • A Simple Example of Profit Maximization
                    • The Marginal Cost Curve and the Firm's Supply Decision
                    • The Firm's Short-Run Decision to Shut Down
                • PowerPoint for Chapter 14: Firms in Competitive Markets


                April 5, 2018      Chapter 14: Firms in Competitive Markets continued

                • Chapter 14: Firms in Competitive Markets continued
                  • Profit Maximization and the Competitive Firm's Supply Curve
                    • A Simple Example of Profit Maximization
                    • The Marginal Cost Curve and the Firm's Supply Decision
                    • The Firm's Short-Run Decision to Shut Down
                    • Spilt Milk and Other Sunk Costs
                    • The Firm's Long-Run Decision to Exit or Enter a Market
                    • Measuring Profit in our Graph for the Competitive Firm
                  • The Supply Curve in a Competitive Market
                    • Profit and Loss in Perfect Competition
                • PowerPoint for Chapter 14: Firms in Competitive Markets


                          Week 10

                March 26, 2018      Review the Exam and Chapter 13: The Costs of Production

                • Chapter 13: The Costs of Production
                  • What are Costs?
                    • Total Revenue, Total Cost, and Profit
                    • Costs as Opportunity Costs: Implicit versus Explicit Costs
                    • The Cost of Capital as an Opportunity Cost
                    • Economic Profit Versus Accounting Profit
                  • Production and Costs
                  • The Production Function
                    • Marginal Product - it is diminishing as output increases
                    • From the Production to the Total-Cost Curve
                  • The Various Measures of cost
                • PowerPoint for Chapter 13: The Costs of Production


                March 28, 2018      Chapter 13: The Costs of Production

                • Review Exam II - Quiz!
                • Chapter 14: Firms in Competitive Markets
                  • What is a Competitive Market?
                    • The Meaning of Competition
                    • The Revenue of a Competitive Firm
                    • Marginal Revenue and Average Revenue
                  • Profit Maximization and the Competitive Firm's Supply Curve
                    • A Simple Example of Profit Maximization
                    • The Marginal Cost Curve and the Firm's Supply Decision
                    • The Firm's Short-Run Decision to Shut Down
                • PowerPoint for Chapter 14: Firms in Competitive Markets



                  March 17 - 25, 2018      SPRING BREAK - ENJOY!!!




                          Week 9

                March 13, 2018      Class Cancelled

                • REVIEW for Exam II with the SI Leaders!
                • I'm out of town - please attend at least one SI session
                • The Minimum Wage Paper covers today's class



                March 15, 2018      EXAM 2: Chapters 7 - 11 and 21 (in part)

                          Week 8

                March 6, 2018      Chapter 10: Externalities and Begin Chapter 11: Public Goods and Common Resources

                • Chapter 10: Externalities
                  • Review: Externalities and Market Inefficiency
                    • Welfare Economics: A Recap
                    • Negative Externalities
                    • Positive Externalities
                  • Private Sollutions to Externalities
                    • The Coase Theorem
                    • Why Private Solutions Do NOT always Work
                  • Internalizing the Externality:
                    • Public Policies toward Externalities
                      • Command-and-Control Policies: Regulation
                      • Market-Based Policy 1: Corrective Taxes and Subsidies
                      • Market-Based Policy 2: Tradable Pollution Permits
                      • Objections to the Economic Analysis of Pollution
                  • Today's PowerPoint on Pigouvian Subsidies and Taxes
                • PowerPoint for Chapter 10: Externalities

                • Chapter 11: Public Goods and Common Resources
                  • 4 Different Kinds of Goods
                    • Two questions: Is the good rival? Is it excludable?
                    • Private, Public, and Club Goods, and Common Resources
                  • The Free-Rider Problem
                  • The Difficult Job of Cost-Benefit Analysis
                • PowerPoint for Chapter 11: Public Goods and Common Resources


                March 8, 2018       Chapter 11 continued and Chapter 21: The Theory of Consumer Choice February 27, 2018      Chapter 8: Application: The Costs of Taxation

                • Paper #1 Due in Bb Learn: "Minimum Wage Slowdown" at 11:59 pm, TUESDAY

                • Chapter 9: Application: International Trade
                  • The Determinants of Trade
                    • Equilibrium without Trade
                    • The World Price and Comparative Advantage
                  • Winners and Losers from Trade
                    • The Gains and Losses of an Exporting Country
                    • The Gains and Losses of an Importing Country
                    • Effects of a Tariff
                    • Lessons for Trade Policy
                    • Other Benefits of International Trade
                • PowerPoint for Chapter 9: Application: International Trade


                March 1, 2018       Chapter 9: Application: International Trade

                • Chapter 9: Application: International Trade
                • Chapter 10: Externalities
                February 20, 2018      Review the Exam and Introduce Chapter 7: Consumers, Producers, and the Efficiency of Markets
                February 22, 2018      Chapter 7: Consumers, Producers, and the Efficiency of Markets

                • What is a Benevolent Social Planner?
                • Introduction to Chapter 8: Application: The Costs of Taxation
                  • The Deadweight Loss of Taxation
                    • How does a tax affect market participants?
                • Chapter 8: Application: The Costs of Taxation
                  • The Deadweight Loss of Taxation
                    • How a Tax Affects Market Participants
                    • Welfare without a tax, Welfare with a Tax, Changes in Welfare
                    • Deadweight Losses and the Gains from Trade
                  • The Determinants of the Deadweight Loss
                  • Deadweight Loss and Tax Revenue as Taxes Vary
                  • The Laffer Curve
                • PowerPoint for Chapter 8: Application: The Costs of Taxation


                          Week 5

                February 13, 2018      Review for the Exam

                February 15, 2018      EXAM 1: Chapters 1 - 6





                          Week 4

                February 6, 2017      Chapter 6: Supply, Demand, and Government Policy February 8, 2017      Chapter 6: Supply, Demand, and Government Policy January 30, 2018      Chapter 4: The Market Forces of Supply and Demand (continued)
                February 1, 2018      Chapter 5: Elasticity and Its Application

                • Chapter 5: Elasticity and Its Application
                  • Price Elasticity of Demand and Its Determinants
                  • Computing Price Elasticity of Demand
                    • The Midpoint Method
                    • Percentage Change in Qd over Percentage Change in Price
                  • Variety of Demand Curves
                  • Total Revenue and Price Elasticity of Demand
                  • Elasticity and TR along a Linear Demand Curve
                • PowerPoint for Ch 5: Elasticity and Its Application



                          Week 2

                January 23, 2018:  Chapter 3: Interdependence and Gains from Trade

                • Chapter 3: Interdependence and Gains from Trade
                  • A Parable for the Modern Economy
                    • Production Possibilities
                    • Why does Specialization and Trade allow more consumption than self-sufficiency?
                  • Comparative Advantage
                    • Absolute Advanatage
                    • What is the Opportunity Cost? and Who has the Comparative Advantage
                    • Comparative Advantage and Trade
                    • What is "The Price of Trade?"
                  • Applications:
                    • Quiz #2 and the answers
                    • Serena Williams, Should she mow the lawn?
                    • Should we trade with other nations?
                • Article from Bloomberg.com on Boeing discussed in class
                • NOTE: Quiz #3 is in the PowerPoint for Chapter 3 below, questions and answers
                • PowerPoint for Chapter 3: Interdependence and Gains from Trade

                January 25, 2018      Chapter 4: The Market Forces of Supply and Demand January 16, 2018:  FIRST DAY - Syllabus and Introduction, Chapter 1: Ten Principles of Economics


                January 18, 2018:  Chapter 2: Thinking Like An Economist

                • Chapter 2: Thinking Like an Economist
                  • The Scientific Method and the Role of Assumptions
                  • The Circular Flow: The first model of Economics we will study
                  • Income = Spending, BASE IDEA, So what does total income equal?
                  • Four resources and four payments to those resources
                  • Where do households fit in? ... Business firms?
                  • Model 2: The Production Possibilities Frontier (PPF)
                  • Very simple and basic - Where is an efficient economy producing?
                  • Where is the U.S. economy today?
                  • Positive versus Normative Economics - JUST THE FACTS!
                  • Why Economists Disagree
                • Quiz #2: Production Possibilities Frontier - BASICS
                • PowerPoint for Chapter 2: Thinking Like An Economist

    

[Home Page]
email: Andrew.Parkes(at)nau.edu or andrew(at)andrewparkes.com
Last Update: April 29, 2018
By Andrew L. H. Parkes, Ph. D.