Eco 101                                                                                                                                                                S. Atri
Principles of Microeconomics                                                                                           Mahar 431A
Spring 2010                                                                                                                                                          E-mail:
Office Hours:
T: 12:30 - 2:00
TH: 11:30 - 2:00
Wednesday: by appointment


Economics 101 is a part of a  sequence of two introductory courses in economics.  It is a study of the economic behavior of economic units such as firms and households.  More specifically, in this course we look at how a person decides how much to work  and how to spend his or her income. We study the behavior of business firms and their interactions with other economic units under different market conditions. We examine how a firm decides how many workers to employ, how much to produce, and what price(s) to charge. We will learn about the working of the market as well as market failures. And, finally, we look at the role and the functions of government in a market-oriented economy.

In a free market-based democracy it is essential that all citizens have a basic knowledge of how the economy works. Such knowledge enables them to function more productively for themselves as well as for the benefit of the society. The primary purpose of this course is to provide students with a good understanding of the fundamentals of microeconomics. In the increasingly interdependent and competitive global economy today one cannot  make good economic or business decisions without an ability to obtain and understand relevant information. A good knowledge of basic economics enables us as consumers, workers, business managers, investors, or government officials to better read and understand  economic and market signals and thus make better decisions. Besides, making right and responsible political choices in a market -oriented democracy requires that citizens be able to understand and evaluate their choices. One of the objectives of this course is to provide students with the knowledge and the tools they need to have to be able to function as participating responsible citizens.


I. Orientation : What is Economics (Chs. 1 and 2)

II. The Basic Economic Problem (Ch. 2) III. Economic Systems IV. Supply and Demand (Ch. 3) V. The Economics of the Household  (Chs. 4, 5, 6, 10-11) VI. International Trade (Ch. 8) VII. The Producer: The Theory of the Firm (Chs. 12-13) VIII. Market Structures: Monopoly and Imperfect Competition IIX.  Government and the Economy Revisited (Chs. 17-18) IX. Factor Market and Income Distribution (Ch. 20) The Book's Web Site

Paul Krugman and Robin Wells, Microeconomics, 2nd Edition, Worth Publishrs: 2009

Planned Coverage
% Weight
Test I
Thursday, Feb 25
Chapters   1-4
Test II
Thursday, April 15
Chapters 5 - 12
Final Exam
 Thursday, May 13
( 2:00-4:00) 

EVALUATION PROCEDURE: In addition to the above scheduled exams, there will weekly quizzes and/or assignments collectively carrying up to fifteen points that will be added to your cumulative points from the scheduled exams. Students are strongly advised not to miss any exams. No make-up exams will be given. The final course grades will be determined based upon the distribution of the total points obtained from the scheduled exams and quizzes/assignments.

Students are strongly urged to attend classes regularly and keep up with the course coverage and all assignments. Excessive absences could have an adverse effect on one's final course grade. Make-up tests are given only when a student misses a test as a result of professionally diagnosed and treated illness and other verified extenuating circumstances. Make-up tests may or may not have the same format as the scheduled tests. There will be no makeups for missed quizzes.

Note: Students who have a disabling condition which might interfere with their ability to carry out the course requirements are encouraged to speak, confidentially, to the class instructor, or to contact the Office of Disability Services

 Last Updated 1/26/10