Principles of Microeconomics
(ECN 102, 3 credits), Summer V 2017
Instructor: David Maslin, Contact: via mail feature in Blackboard Learn
Text Book: Principles of Economics (7th edition), N. Gregory Mankiw, Cengage Learning
Prerequisites: Eligible for MAT*137 or MAT*137E, and Eligible for ENG*101 or ENG*101E
Course Description:
An elementary study of the principles of economics related to relative
scarcity and resource allocation. The course provides a basic study of a
market economy and various kinds of market structures. Some time is
devoted to cost and to labor economics.
The objective of this course is to gain an understanding of how market
forces coordinate independent actors in the economy. Utilizing basic tools
of economic analysis and some fundamental principles, we exam how
supply and demand act to establish equilibrium market prices. We consider
the effects of various government policies, including taxation, on supply
and demand. In some instances, market outcomes may not be efficient; we
investigate ways in which government can remedy market failures. We
develop the theory of the firm to understand the behavior of companies in
differing industry structures, such as monopoly and oligopoly, as well as
competitive markets. Lastly, we look at labor markets and probe the policy
debates surrounding issues such as the minimum wage, employment
discrimination and income inequality.
Course Structure:
This course consists of 9 Sessions corresponding to the 3 week semester
beginning July 31, ending August 18, 2017. Most sessions represent a
distinct “learning module” focused on specific chapters of the text,
incorporating reading assignments, practice questions, a related quiz, and a
