Welcome to ECON 202, Principles of Microeconomics!
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Welcome to ECON 202, Principles of Microeconomics!
Please enable Javascript and Flash to view this Flash video.
I will be in most of the day tomorrow (except for lunch) until 5pm.
Income Distribution and Labor Markets:
Environmental Economics:
I plan to be in the office Tuesday and Wednesday afternoon, and all day Friday. If you want to meet with me, it’s always best to make an appointment, but if I’m free I happy to take ‘walk-in customers’.
Production and Costs
Mechanics of Producer Equilibrium
Firms’ Behavior in the Real World
Please read Chapter 1 in Tim Harford’s The Undercover Economist. Harford provides a non-text book introduction to the principles of economics. (You can find a copy of Chapter 1 under the tab labeled Readings, above. The password is the name of the building where we hold class.)
The chapter provides an overview of the issues we will be discussing in the next topic: The theory of the firm. Once you’ve read it, please email me the answers to the following questions by Tuesday night.
Study Questions for Harford:
1. Who makes the most profit on coffee shops around the London subway? Please explain why that is the case
2. What two factors make coffee shops profitable?
3. How much profit does “the marginal firm” earn? Why? Your answer should explain clearly what a marginal firm is.
4. Why are British teachers paid so little?
5. Why are British nurses paid so little?
I set up our class twitter account as ‘econ202′.
Set up your own account on twitter, and then search for ‘econ202′ to add as a friend.
Once I confirm you, any message you type on twitter will go to the class twitter account.