Department of Economics
123DKH ECONOMICS 302 Dr. Dao
This course is about analyzing the product and factor price theory under alternative market classifications.
Book Available from the Bookstore:
Pindyck and Rubinfeld, Microeconomics, Pearson , 7th edition.
Course Requirements:
· Two hour exams: 50 percent of final grade
· Weekly Quizzes and Problem Sets: 20 percent of final grade
· Comprehensive Final: 30 percent of final grade
Office Hours:
MW
Office Location: 304C DKH
Office Phone: 333-4580
Website: www.ux1.eiu.edu/~mqdao/
Email: mqdao@eiu.edu
Answers to End-of-Chapter Exercises
Course Outline
I. INTRODUCTION: MARKETS AND PRICES
A. Preliminaries (chapter 1)
B. The Basics of Supply and Demand (chapter 2 excluding 2.6)
II. PRODUCERS, CONSUMERS AND COMPETITVE MARKETS
A. Consumer Behavior (chapter 3 excluding 3.6)
B. Individual and Market Demand (chapter 4 excluding 4.6)
C. Uncertainty and Consumer Behavior (chapter 5 excluding 5.4)
First Hour Exam:
D. Production (chapter 6)
E. The Cost of Production (7.1 through 7.4)
F. Profit Maximization and Competitive Supply (chapter 8)
G. The Analysis of Competitive Markets (chapter 9)
III. MARKET STRUCTURE AND COMPETITIVE STRATEGY
A. Market Power: Monopoly and Monopsony (chapter 10)
B. Pricing with Market Power (11.1 through 11.3)
Second Hour Exam:
C. Monopolistic Competition and Oligopoly(chapter 12)
D. Markets for Factor Inputs (chapter 14)
E. Investment, Time, and Capital Markets (15.1 through 15.4)
IV. MARKET FAILURE AND THE ROLE OF GOVERNMENT
A. Externalities (18.1-18.2 and 18.5)
Final exam: TBA