Microeconomics

How can you not be interested?

If you have ever wondered about these questions, this Econ101 course is for you.

• Who determines the price of the goods we buy,  like laptops or smartphones?

• Who pays the tax (like the HST): you, the businessman or someone else?

• How much of what you are wearing today or using made in Canada? Why/why not?

• How do subsidies and taxes affect the market?

What are you expected to learn?

I have two main goals for this Econ101 course. The first is to introduce students to the principles of microeconomic theory. You will learn how consumers and producers interact in different market structures and how this interaction leads to allocating resources and wealth. In addition, we will study the effect of Government interventions. 

Second, inspire and guide you to use theory to interpret issues confronting us in the real world. We will thus discuss several Canadian policies and analyze how these Government policies can redistribute income and change market outcomes. 

At the end of this semester, you will know and understand the fundamental concept of microeconomics. This will prepare you for advanced economics courses.

Upon completing the Econ101 course, you will be able to demonstrate a basic understanding of news relating to the economy. You will also understand the role of markets in personal and corporate decision-making.

These are some of the major topics covered in the course:

• Economics of Markets.

• Consumption Choices and Consumer Demand.

• Firm's Cost Structure and Production Decisions.

• Market Competition and Monopoly.

• Government interventions and Distribution of Income.

• Externalities.

• Scarcity of Resources.