I recommend you pick up the Econ 302 Workbook by Mark McLeod, or join a study group with a copy. Please let me know if you cannot find one. The workbook is an essential part of your preparation for quizzes, but quiz questions will not necessarily be of the same form as those found in the workbook.
I will post weekly notes here on the front page, primarily to list the topics relevant to upcoming quizzes and tests. The week's topics, readings, and exercises in the workbook are also here. Find these notes for other weeks in the "Archive" below.
A sketch of the course content can by found under "Topics," on the left. Underlined sentences describe skills you will need to master a topic. Bonus questions for quizzes and tests can come from any other material on the website, covered in class, or in the readings. Slides from lectures and quizzes can be found by clicking on the corresponding day in the Calendar.
The syllabus or notes on a topic can be printed by clicking the icon in the upper right. To print or download slides and answer keys, click the icon. You can comment on slides and quizzes (to correct errors, for example) by clicking "Comments." In the forum, anyone can start a discussion and old ANGEL announcement emails will be archived.
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This week we will study competitive markets using the supply-and-demand model, and discuss the effects of price controls. On Friday, we will start calculating and applying elasticities.
- Become familiar with…Supply and Demand, Applying Supply and Demand, Elasticities and Models
- Read…Perloff 1 (optional), 2
- Practice…WB 1
- Surplus and shortage
- Demand and Supply shifters
- Graphing and shifting the curves
- A bonus question?
New stuff on next week's quizzes (anticipated)
- Computing equilibrium from formulas
- Price restrictions
- Per-unit taxes
- Zero-cost monopoly