Principles
of Economics, spring 2016
course web page
Homework
assignments…
Problem
Set 1, on demand, supply, and equilibrium: Click here for the pdf.
Reflection
1:
Click here for the pdf.
Problem
Set 2, on price controls and taxes: Click here for the pdf.
Problem
Set 3, on opportunity cost, shifting curves, summing
curves, and elasticity: Click here for the pdf.
Test
1, Thursday, 3/3
Reflection
2:
Define monopoly, oligopoly, and monopolistic competition. What are some causes
of market power? What is the basic argument that market power reduces
efficiency?
Problem
Set 4, on monopoly: Click here
for the pdf.
Reflection
3,
on externalities and public goods: Define negative externalities, positive
externalities, and public goods. For each type of good, explain why
decentralized markets don’t reach efficient results in general, and give a
specific example not found in the text.
Problem
Set 5, on externalities: Click
here for the pdf.
Problem
Set 6, on public goods: Click
here for the pdf.
Test
2, Thursday, 4/14
Problem
Set 7, on long-run competitive supply: Click here for the pdf.
Reflection
4,
on macroeconomics: Click here for the pdf.
Problem
Set 8, on comparative advantage and trade: Click here for the pdf.
Test
3, Tuesday, 5/24