MICROECONOMICS 1 - FALL 2011

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• Syllabus (last updated: 21.09.2011)
• Instructor: Georgi Burlakov - contact
• Office Hours: 11-12 a.m. on the day of the lecture
• Official Course Page: BPE_MIC1 Microeconomics 1
• Page of the course taught in Czech: Titulní strana předmětu Mikroekonomie 1

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Lecture Notes

• Lecture 1, 19.09.2011, 7:40–9:15 a.m./9:20-11:00 a.m., Lecture Room P3 (KPMG Hall)
  -- Lecture 1: Introduction to Economics (Mankiw, Ch. 1-2) - Slides_L1
  -- Tutorial Session 1: quiz on chapters 1 and 2
  Links to the Ten Principles of Economics (with N. Gregory Mankiw) video clips:
  • PRINCIPLE #1: People Face Trade Offs , (transcript)
  • PRINCIPLE #2: The Cost of Something Is What You Give Up to Get It , (transcript)
  • PRINCIPLE #3: Rational People Think at the Margin , (transcript)
  • PRINCIPLE #4: People Respond to Incentives , (transcript)
  • PRINCIPLE #5: Trade Can Make Everyone Better Off , (transcript)
  • PRINCIPLE #6: Markets Are Usually a Good Way to Organize Economic Activity , (transcript)
  • PRINCIPLE #7: Government Can Sometimes Improve Market Outcomes , (transcript)
  • PRINCIPLE #8: A Country's Standard of Living Depends on its Ability to Produce Goods and Services , (transcript)
  • PRINCIPLE #9: Prices Rise When the Government Prints Too Much Money , (transcript)
  • PRINCIPLE #10: Society Faces a Short-Run Tradeoff Between Inflation and Unemployment , (transcript)
  
  
• Lecture 2, 26.09.2010, 7:40–9:15 a.m./9:20-11:00 a.m., Lecture Room P3 (KPMG Hall)
  -- Lecture 2: Market Mechanism (Mankiw, Ch. 3) - Slides_L2
  -- Tutorial Session 2: quiz on chapters 1-3
  
  
• Lecture 3, 03.10.2011, 7:40–9:15 a.m./9:20-11:00 a.m., Lecture Room P3 (KPMG Hall)
  -- Lecture 3: Market Equilibrium (Mankiw, Ch. 4) Slides_L3
  -- Tutorial Session 3: quizzes on chapters 3-4
  
  
• Lecture 4, 10.10.2011, 7:40–9:15 a.m./9:20-11:00 a.m., Lecture Room P3 (KPMG Hall)
  -- Lecture 4: Consumer Demand Analysis (Mankiw, Ch. 21, Ch.5) Slides_L4
  -- Tutorial Session 4: quizzes on chapters 4, 5, 21
  
  
• Lecture 5, 17.10.2011, 7:40–9:15 a.m./9:20-11:00 a.m., Lecture Room P3 (KPMG Hall)
  -- Lecture 5: Firm Supply Analysis (Mankiw, Ch. 5, Ch. 13) Slides_L5
  -- Tutorial Session 5: quizzes on chapters 5, 21, 13
  
  
• Lecture 6, 24.10.2011, 7:40–9:15 a.m./9:20-11:00 a.m., Lecture Room P3 (KPMG Hall)
  -- Lecture 6: Perfectly Competitive Markets (Mankiw, Ch. 7, Ch. 14) Slides_L6
  -- Tutorial Session 6: solving homework 1 in class, quiz on chapters 7, 14
  
  
• Lecture 7, 31.10.2011, 7:40–9:15 a.m./9:20-11:00 a.m., Lecture Room P3 (KPMG Hall)
  -- Lecture 7: Monopoly and Government Policy (Mankiw, Ch. 6, 8, 15) Slides_L7
  -- Tutorial Session 7: Midterm Exam
  
  
• Lecture 8, 07.11.2011, 7:40–9:15 a.m./9:20-11:00 a.m., Lecture Room P3 (KPMG Hall)
  -- Lecture 8: Oligopoly (Mankiw, Ch. 17) Slides_L8
  -- Tutorial Session 8: quiz on chapter 17
  
  
• Lecture 9, 14.11.2011, 7:40–9:15 a.m./9:20-11:00 a.m., Lecture Room P3 (KPMG Hall)
  -- Lecture 9: Monopolistic Competition (Mankiw, Ch. 10, 16) Slides_L9
  -- Tutorial Session 9: quiz on chapters 10, 16
  
  
• Lecture 10, 21.11.2011, 7:40–9:15 a.m./9:20-11:00 a.m., Lecture Room P3 (KPMG Hall)
  -- Lecture 10: Labor Market (Mankiw, Ch. 18, 19, 20) Slides_L10
  -- Tutorial Session 10: quiz on chapters 18, 19, 20
  
  
• Lecture 11, 28.11.2011, 7:40–9:15 a.m./9:20-11:00 a.m., Lecture Room P3 (KPMG Hall)
  -- Lecture 11: Capital and Land Markets (Mankiw, Ch. 18, 26, 36, 37) Slides_L11
  -- Tutorial Session 11: quiz on chapter 18
  
  
• Lecture 12, 05.12.2011, 7:40–8:55 a.m./9:00-10:30 a.m., Lecture Room P3 (KPMG Hall)
  -- Lecture 12: Public Goods and Common Resources (Mankiw, Ch. 11) Slides_L12
  -- Tutorial Session 12 - (preliminary) Final Exam 1
  
  
• Lecture 13, 12.12.2010, 7:40–8:55 a.m./9:00-10:30 a.m., Lecture Room P3 (KPMG Hall)
  -- Lecture 13: Frontiers of Microeconomics (Mankiw, Ch. 22) Slides_L13
  -- Tutorial Session 13 - (preliminary) Final Exam 2

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Homework Assignments

• Homework 1, due at 17.10.2011, 9:20 a.m. (in class)

• Homework 2, due at 28.11.2011, 9.20 a.m. (in class)

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Written Exam Information

• Midterm Exam: 30.11.2010, 9:30-10:30 a.m. - 5 fill-the-gaps, 5 true/false, 20 multiple choice questions on Mankiw, Chapters: 1-5, 7, 13-14, 21;
  online student resources:
  • Multiple choice questions (Mankiw-Taylor(2011), 2nd edition),
  • Multiple choice questions (Mankiw-Taylor(2010), 1st edition),
  • Glossary of key terms (Mankiw(2009), 5th edition)
  
  Midterm Exam - test A
  Midterm Exam - test B
  Performance statistics: Min: 18; Max: 28; Average: 24.33; distribution

• Final Exam /registration by Dec-24 required!/: 09.01.2012, 1:30-3:00 p.m., P3 (KPMG Hall),
  10 fill-the-gaps, 10 true/false, 30 multiple choice questions on Mankiw, Chapters: 1-5, 7-8, 13-18, 21;
  
  Preliminary dates: 05.12./12.12.2011, 9:00-10:30 a.m.
  
  Final Exam 1 (05.12.2011) test A , test B
  Performance statistics: Min: 24; Max: 50; Average: 35.25; distribution
  
  Final Exam 2 (12.12.2011) test A , test B
  Performance statistics: Min: 36; Max: 47; Average: 41.50; distribution
  
  Final Exam 3 (09.01.2012) test A , test B
  Performance statistics: Min: ; Max: ; Average: . ;
  

Final score distribution

• Final score/grade conversion scale:
  >90 (A); 80-89.99 (B); 70-79.99 (C); 60-69.99 (D); 50-59.99 (E); <49.99 (F)