Economics 101: Principles of Microeconomics
Spring 2007

Meta Brown, Assistant Professor
Department of Economics
University of Wisconsin-Madison
1180 Observatory Drive
Madison, Wisconsin 53706

Phone: (608) 262-8789
Fax: (608) 262-2033
Email:
mbrown@ssc.wisc.edu


Syllabus

Syllabus in pdf | | Syllabus in html


Announcements

Final Exam Answers Note v1 #2 is actually B. Have a great summer!

Practice Final 1, Brown 2003/2004 | Answers

Practice Final 2, Brown 2004 | Answers

(4) MIDTERM 2: Midterm 2 will take place Tuesday April 11th. Here is one practice midterm. Another will be posted soon.

My Midterm 2 from 2004 | Answers

More Midterm 2 practice exams:

Igal Hendel 2001 Midterm 2 | Hendel 2001 Midterm 2 answers

Maurizio Mazzocco 2002 Midterm 2 | Mazzocco 2002 Midterm 2 answers

(3) MIDTERM 1: Midterm 1 will take place in class February 27th. The following are practice midterm exams.

My Midterm 1 from 2004 This exam should be reasonably good practice for our actual in-class exam.

2004 Midterm answers

Igal Hendel's 2001 1st midterm This exam should be reasonably similar to the exam you will take in class, though a small amount of material covered in this example exam was not covered in our class.

Hendel exam answers


(2) ATTENDANCE POLICY & EXAM QUESTIONS IN LECTURE:
Attendance of both the lectures & discussion sections is ungraded. However, each lecture will be accompanied by a midterm or final exam practice question. Questions will closely resemble exam questions, but will differ in their specific applications or numerical solutions.


(1) Welcome to Econ 101!


Lecture notes

Jan 23: Ten Principles of Economics

Jan 25: Thinking Like an Economist

Jan 30: The Gains from Trade

February 1, 6 & 8: Consumer Choice

February 13: Supply & Demand

February 15: Elasticity

February 20b-22: Supply, Demand, and Government Policies

February 22-March 1: Consumers, Producers, & the Efficiency of Markets

March 1: Trade

March 6: Externalities

March 6b: Public Goods

March 8: Welfare Analysis of Taxes

March 13: Design of Tax Systems, U.S. Government Revenues & Expenditures

March 15: Cost Curves

March 20, 22, 27 & 29: Perfectly Competitive Markets

April 12: Monopoly

April 17 & 19: Game Theory

April 19 & 24: Duopoly (Only part of this material will be covered.)

April 24: Oligopoly

April 26: Earnings & Inequality

May 1: Earnings & Inequality, cont'd

May 3 & 8: Ch 20 wrap-up, selected topics from Ch 22, & several from outside sources

May 10: FINAL EXAM REVIEW!



Problem Sets

PS 1, due in discussion sections January 31-February 2

PS 2, due in discussion sections February 7-9

PS 3, due in discussion sections February 14-16

PS 4, due in discussion sections February 21-23

PS 5, UNGRADED

PS 6, due in discussion sections March 7-9

PS 7, due in discussion sections March 14-16

PS 8, due in discussion sections 3/28-30

PS 9, practice

PS 10, due in discussion 4/18-20

PS 11, due in discussion section 4/25-27

PS 12



Problem Set Solutions

PS 1 solutions (in pdf)

PS 2 solutions

PS 3 solutions

PS 4 solutions

PS 5 solutions

PS 6 solutions

PS 7 solutions

PS 8 solutions

PS 9 solutions

PS 10 solutions

PS 11 solutions

PS 12 solutions



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Last Updated: 19 May 2007