Principles of Microeconomics

Prof. Jean Paul Rabanal (jp.rabanal at colby dot edu)

Description In this class you will learn how societies have organized themselves in order to produce goods and services for the survival and well-being of their members. The microeconomy is the economy of one small house or an economy on a small scale. Here you will learn the framework economists use to study how individuals and firms make decisions. Specifically, you will learn how consumers decide how much of each good to consume and of how firms decide how much to produce; of how the government might influence these decisions, sometimes in a beneficial and other times in a harmful way; why the market for corn or wheat is different from the market for cell phones or the market for water or electricity.

Here is the rules of the game (syllabus). Below, the materials that we are going to work throughout the semester.

Folders with presentations: Section C and Section D

Sapling homework due April 26th at 9.00am (two chapters)

Week 12

Tuesday: Midterm 2

Thursday: If you have not presented in class, then you are scheduled to give a short presentation on Thursday May 10th.

Week 11

Practice Midterm (previous exam)

No class Thursday. On Friday I will hold 9.30-2.30 office hours to resolve questions, dilemmas, inquiries, and maybe palm reading so you are prepare for the midterm.

Week 10

Pricing strategies (problems, and more problems)

Week 9

Notebook on Monopoly and cost functions

In-class homework

Week 8

In-class homework

Week 7

In-class homework

Notebook on elasticities, taxes and subsidies.

Week 6

First midterm: Tu 3/13 in class.


Week 5:  Study session and exam

Week 4:  Demand and Supply

Week 3:  Demand and Supply

Week 2: Valentine’s week and demand and supply

Week 1: Welcome!