Microeconomics Course Syllabus and Study Guide: ECON 201/2 Introduction to Microeconomics

Course Overview

Introduction to Microeconomics

This course provides a university-level introduction to the fundamental concepts of microeconomics, including supply and demand, elasticity, consumer behaviour, production theory, market structures, the role of government, and the gains from trade. It is designed for students seeking to understand how choices are made in everyday life and how these choices affect markets and resource allocation.

• Key Topics: Supply and demand, elasticity, consumer and firm behaviour, market structures, government intervention, and international trade.

• Applications: Analysis of individual, firm, and government decisions in various market settings.

Course Objectives

Learning Goals

The main objective is to understand the concept of choice and how it influences economic outcomes. Students will learn to:

• Analyze how choices are made given limited resources.

• Apply economic models to real-world situations.

• Interpret data and graphs to understand market behaviour.

• Evaluate the impact of government policies on markets.

Additional info: The course emphasizes both theoretical understanding and practical application through assignments, labs, and exams.

Course Structure and Assessment

Components and Weighting

The course is divided into several assessment components to evaluate student understanding and application of microeconomic principles.

Component	Weight	Description
Labs (MyLab)	25 percent	Online assignments covering key concepts and learning objectives.
Midterm	30 percent	Exam covering Chapters 1–8 (Scheduled for November 3).
Final Exam	45 percent	Comprehensive exam covering Chapters 1–11, 16, 19–20 (Date to be determined).

Note: Labs are designed to reinforce material and provide immediate feedback. Exams are closed book and may include multiple-choice, numerical, and conceptual questions.

Course Topics and Schedule

Weekly Breakdown

The following schedule outlines the main topics and corresponding textbook chapters covered each week:

Date	Topic	Chapter
September 4	Economics Issues and Concepts	1
September 6	Economic Theories, Data and Graphs	2
September 11	Demand, Supply and Price	3
September 13	Demand, Supply and Price	3
September 16	Elasticity	4
September 18	Price Controls and Market Efficiency	5
September 23	Consumer Behaviour	6
September 25	Consumer Behaviour	6
September 30	Consumer Behaviour	6A
October 2	Producer in the Short Run	7
October 7	Producer in the Long Run	8
October 23	Competitive Markets	9
October 28	Competitive Markets	9
November 2	Midterm	Chapters 1–8
November 4	Monopoly, Cartels and Price Discrimination	10
November 11	Imperfect Competition and Strategic Behaviour	11
November 18	Market Failures and Government Intervention	16
November 20	The Gains from International Trade	19
November 25	Trade Policy	20
November 30	Lab DUE	Chapters 19–20
TBD	Final Exam	Chapters 1–11, 16, 19–20

Key Microeconomics Concepts

Definitions and Examples

• Supply and Demand: The fundamental model explaining how prices and quantities are determined in a market. Example: If the price of coffee increases, the quantity demanded typically decreases, while the quantity supplied increases.

• Elasticity: Measures the responsiveness of quantity demanded or supplied to changes in price or other factors. Formula: $E_d = \frac{\% \text{ change in quantity demanded}}{\% \text{ change in price}}$

• Consumer Behaviour: Examines how individuals make choices to maximize utility given budget constraints.

• Production Theory: Analyzes how firms transform inputs into outputs and make decisions about cost minimization and profit maximization.

• Market Structures: Includes perfect competition, monopoly, oligopoly, and monopolistic competition, each with distinct characteristics and outcomes.

• Government Intervention: Explores policies such as price controls, taxes, subsidies, and regulations that affect market outcomes.

• International Trade: Studies the benefits and costs of trade between countries, including comparative advantage and trade policy.

Grading and Policies

Grade Criteria

Grade	Percentage	GPA
A+	90–100	4.30
A	85–89	4.00
A-	80–84	3.70
B+	77–79	3.30
B	73–76	3.00
B-	70–72	2.70
C+	67–69	2.30
C	63–66	2.00
C-	60–62	1.70
D+	57–59	1.30
D	53–56	1.00
D-	50–52	0.70
FNS	0–49	0.00

Grade Distribution: At least half of students must receive grades of A and B, with adjustments as needed to ensure fairness.

Student Responsibilities and Resources

Expectations and Support

• Attend lectures and labs regularly and participate actively.

• Complete assignments and exams on time.

• Use university resources such as health services, academic integrity office, and student support centers.

• Respect copyright and academic honesty policies.

• Seek accommodations if needed through the appropriate university office.

Discussion Board: A forum is available on Moodle for course-related questions and peer support.

Important University Dates

Key Deadlines

Date	Event
September 2	Classes begin and Moodle page available
September 15	Deadline to add full-term courses
September 15	Deadline for withdrawal with tuition refund (DNE)
October 11–17	Reading Break – no classes
October 13	Thanksgiving Day – university closed
October 17	Last day to register with ACSD for accommodations
November 24	Last day for instructor-scheduled exams
December 1	Last day to apply for Q status
December 1	Last day of classes
December 3–18	Final exam period

Textbook and Online Resources

Required Materials

• Textbook: Ragan, C. Microeconomics, 15th Canadian Edition, Pearson, 2025.

• Online Platform: MyLab Economics for assignments and labs.

Additional info: Students are expected to register for MyLab through Moodle and complete all assigned labs and practice questions.