The Ohio State University
Econ H200--Principles of Microeconomics (Honors)
Professor James Peck
Course Objective: To provide a thorough introduction to microeconomic theory. Starting from the basic ideas of tradeoffs, opportunity cost, and the benefits of trade, we will study how the market forces of supply and demand cause prices to be what they are. We will see the sense in which market economies are efficient, and the way governments can make our economy less or more efficient. We will delve behind the supply curve to see how firms choose their production levels to maximize profits, culminating in the model of perfect competition. Time permitting, we will look at market failures such as imperfect competition (monopoly and oligopoly) and externalities.
Classes are on Tuesdays and Thursdays, 12:30 - 2:18 pm, in room 62 Derby Hall.
My office is at 440 Arps Hall, and the phone number is 292-0182.
Office hours will be on Mondays 11:00 - 12:00, and Wednesdays 3:00 - 4:00.
The Economics Department provides free tutoring services to students enrolled in ECON 200 and 201. The Economics Learning Center (ELC) is located in Arps 341, and is open Monday-Friday from 9:30-5:00. Other courses may be tutored when tutors have adequate experience and are available.
1. Syllabus, Autumn 06
Homework #1 due Thursday September 28
Homework #2 due Tuesday October 10
Homework #3 due Thursday October 26
Homework #4 due Thursday November 2
Homework #5 due date extended to Tuesday November 28
3. Lecture Slides (not including the diagrams and tables taken from the text)
Lecture 1: Ten Principles of Economics
Lecture 2: Two Examples of Economic Models
Lecture 3: Comparative Advantage and Trade
Lecture 4: Supply and Demand
Lecture 5: Elasticity
Lecture 6: Government Intervention on Markets
Lecture 7: The Efficiency of Markets
Lecture 8: Application of Welfare Analysis: Taxation
Lecture 9: Costs of Production
Lecture 10: Perfectly Competitive Markets
Lecture 11: Equilibrium in Perfectly Competitive Markets
Lecture 12: Monopoly
Lecture 13: Oligopoly and Game Theory
Problems on Elasticity and Government Intervention (This is not homework.)
Problems on Perfect Competition (This is not homework.)
Problems on Oligopoly and Game Theory (This is not homework.)