Economics 1: Introduction to Economics
Prof. Kenneth Train
Fall 2011



LECTURE SCHEDULE AND READINGS

The number on the left is the lecture number in the booklet of slides and the downloadable zip file of slides.

Problem sets are passed out on days marked with *.



 

 

 

10th edition

9th edition

1

Wed, Aug 29

Organization of Course; Introduction to Field 

Ch. 1 and 2

Ch. 1 and 2

2

Wed, Aug 31

Demand and Supply

Ch. 3

Ch. 3

 

Mon, Sept 5

NO CLASS: Labor day

                   

                    

3

Wed, Sept 7*

Demand and Supply, continued

Ch. 4 and 5

Ch. 4 and 5

4

Mon, Sept 12

Consumer Choice

Ch. 6, not the appendix

Ch. 6, not the appendix

5

Wed, Sept 14

Costs of Production

pp. 147-151, 167-178

pp. 135-139, 155-166

6

Mon, Sept 19

Competition, part 1

pp. 179-185, 190-192, 194

pp. 167-173, 178-180,183-184

7

Wed, Sept 21*

Competition, part 2

Ch. 12

Ch. 12

8

Mon, Sept 26

Monopoly

pp. 269-285

pp. 261-277

9

Wed, Sept 28

Monopolistic Competition and Oligopoly

Ch 14 and 15

Ch 14 and 15

10

Mon, Oct 3

Regulation of Natural Monopolies

none

none

 

Wed, Oct 5

Midterm Exam #1, covering material through lecture on Sept. 26

 

 

11

Mon, Oct 10

Antitrust Regulation

pp. 285-287

pp. 277-279

12

Wed, Oct 12*

Externalities

pp. 329-341

pp. 319-332

13

Mon, Oct 17

Public Goods

pp. 341-349

pp. 332-341

14

Wed, Oct 19

Factor Markets

Ch. 10 and 18

Ch. 10 and 18

15

Mon, Oct 24

Time and Uncertainty

Ch. 17

Ch. 17

16

Wed, Oct 26

Overview of Macroeconomics

Ch. 20, pp. 423-425, 432-437, Ch. 22

Ch. 20, pp. 417-419, 426-431, Ch. 22

17

Mon, Oct 31

Aggregate Expenditure and Equilibrium Output

Ch. 23, including appendix

Ch. 23, including both appendices

18

Wed, Nov 2*

Government Spending: Fiscal Policy

Ch. 24 including both appendices

Ch. 24 including both appendices

19

Mon, Nov 7

Money Supply and Demand: Monetary Policy

Ch. 25 and 26, not the appendices

Ch. 25 and 26, not the appendices

20

Wed, Nov 9

Fiscal and Monetary Policy Combined

pp. 541-548

pp. 531-539

21

Mon, Nov 14

Inflation: Aggregate Demand and Supply

pp. 549-553, Ch. 28

pp. 539-543, Ch. 28

 

Wed, Nov 16

Midterm Exam #2, covering material through lecture on Nov. 9

 

 

22

Mon, Nov 21*

Trade and Comparative Advantage

Ch. 34

Ch. 34

 

Wed, Nov 23

NO CLASS: Thanksgiving break

 

 

23

Mon, Nov. 28

Exchange Rates and Balance of Payments

Ch. 35 not the appendix

Ch. 35 not the appendix

24

Wed, Nov. 30

Review

none

none