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.
Sapling homework due April 26th at 9.00am (two chapters)
Tuesday: Midterm 2
Thursday: If you have not presented in class, then you are scheduled to give a short presentation on Thursday May 10th.
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.
First midterm: Tu 3/13 in class.
Week 5: Study session and exam
Week 4: Demand and Supply
- Sapling homework posted (due Th 3/1 at 9.00am. Chp. 4 and 8)
- Notebook on computing market equilibrium, and price controls and quotas
Week 3: Demand and Supply
- Sapling homework posted (due Th 2/22 at 9.00am. Chp. 2 and 3)
- Notes on demand and supply
Week 2: Valentine’s week and demand and supply
- Sapling homework posted
- Notebook on demand and supply
- Notebook on opportunity cost and gains of trade.
Week 1: Welcome!