BackECON*1050 Introductory Microeconomics: Course Syllabus and Study Guide
Study Guide - Smart Notes
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Course Overview
This course, ECON*1050 Introductory Microeconomics, provides a foundational introduction to microeconomic principles, models, and applications. Students will explore how markets function, how consumers and firms make decisions, and the role of government in the economy. The course covers essential topics such as supply and demand, elasticity, market structures, government intervention, and factor markets.
Course Structure and Main Topics
Unit 01: Introduction: Thinking Like an Economist – Basic economic principles, opportunity cost, and the economic way of thinking.
Unit 02: Supply and Demand: How Markets Work – Market forces, equilibrium, and price determination.
Unit 03: Markets in Action: Government and Trade – Market interventions, trade policy, and government regulation.
Unit 04: Consumer Choice: Utility and Demand – Utility maximization, consumer behavior, and demand theory.
Unit 05: The Firm: Production and Cost – Production functions, costs of production, and firm behavior.
Unit 06: Markets – Market structures including perfect competition, monopoly, monopolistic competition, and oligopoly.
Unit 07: Market Failures and Government Intervention – Externalities, public goods, and the rationale for government intervention.
Unit 08: Markets for Factors of Production – Labor, capital, and resource markets.
Learning Outcomes
Describe and apply basic principles of microeconomics, including demand and supply, utility, production, costs, and market structures.
Demonstrate understanding of economic models and their applications.
Analyze specific markets and evaluate the effects of government intervention.
Apply mathematical and graphical tools to economic problems.
Critically examine real-world economic events using microeconomic principles.
Assessment Structure
Assessment Item | Weight |
|---|---|
Courselink Quizzes | 5% |
Tests (Best 3 of 4) | 45% |
Final Exam | 50% |
Total | 100% |
Recommended Study Practices
Read assigned textbook chapters before each unit.
Watch lecture videos and complete the provided notes.
Rewrite and review notes for deeper understanding.
Practice with textbook questions and online resources.
Seek help early if concepts are unclear.
Course Policies and Support
Academic Integrity: Students are expected to uphold the highest standards of academic honesty.
Accessibility: Accommodations are available for students with disabilities through Student Accessibility Services.
Technical Requirements: Respondus LockDown Browser and Monitor are required for online assessments.
Communication: Official communication is via the university email and CourseLink announcements.
Equity, Diversity, and Inclusion
The course and the Gordon S. Lang School of Business and Economics are committed to fostering an inclusive and equitable learning environment. Discrimination and harassment are not tolerated, and students are encouraged to engage respectfully with diverse perspectives.
Additional Information
All course materials are copyright protected and intended for educational use only.
Students are responsible for keeping backup copies of all assignments.
Refer to the Undergraduate Calendar for university-wide policies on academic consideration, drop dates, and more.
Note: This syllabus provides a comprehensive overview of the course structure, expectations, and resources. For detailed weekly schedules, assessment dates, and further guidance, refer to the CourseLink website and official announcements.
