Dr. Greenlaws ECON 202

Exam Week Office Hours

I will be in most of the day tomorrow (except for lunch) until 5pm.

Outline for Material since the Second Exam

Income Distribution and Labor Markets: What is income? What does your income depend on? What is financial capital? What is a capitalist? How does an active owner differ from a passive owner? First Rule of Labor Markets Firms demand labor because of the revenues that the firm can obtain by selling labor’s output (i.e. the marginal revenue product) Firms hire labor as long [...]

Office Hours during Exam Week

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’.

Outline for Material on the Second Exam:

Production and Costs Output is produced by combining inputs: Q = f[ L, K, Entrepreneurship, etc..] Fixed versus Variable Inputs Every factor of production (i.e. input) has an associated factor price. Explicit versus Implicit Costs Accounting versus Economic Profits Short Run Production…. Diminishing Marginal Productivity Long Run Production Marginal Average Rule Total, Average and [...]

Homework Assignment for Tuesday

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 [...]

Twitter is working

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.

Welcome!

Welcome to ECON 202, Principles of Microeconomics!