Elizabethtown
College


Economics

EC102 Principles of Microeconomics
Dr. Sanjay Paul
Fall 2023
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From the Prof's Desk!
  • EC102A meets Tue, Thu 8:00-9:20am in H212.


Lecture Outlines

Lecture 1: Introduction
Lecture 2: Graphs
Lecture 3: Opportunity cost
Lecture 4: Markets and government
Lecture 5: Supply and demand

Lecture 6: Consumer Choice
Lecture 7: Demand Curve
Lecture 8: Elasticity

Lecture 9: Business Organization
Lecture 10: Production
Lecture 11: Cost Functions
Lecture 12: Average Cost and Returns to Scale
Lecture 13: Profit Maximization
Lecture 14: Perfect Competition
Lecture 15: Supply Curve
Lecture 16: Monopoly
Lecture 17: More on Monopoly

Lecture 18: Monopolistic Competition
Lecture 19: Industry Concentration
Lecture 20: Oligopoly
Lecture 21: Market Failure
Lecture 22: Income Inequality

Exercise Sets

Exercise Set 1: Graphs
Exercise Set 2: Opportunity Cost
Exercise Set 3: Demand
Exercise Set 4: Supply
Exercise Set 5: Equilibrium
Exercise Set 6: Excess Supply

Exercise Set 7: Budget Constraint | Answers (PDF)
Exercise Set 8: Indifference Curves | Answers (PDF)
Exercise Set 9: Utility maximization | Answers (PDF)
Exercise Set 9.5: Consumer Surplus | Answers (PDF)
Exercise Set 10: Elasticity | Answers (PDF)

Exercise Set 11: Marginal Product | Answers (PDF)
Exercise Set 12: Cost Functions | Answers (PDF)
Exercise Set 13: Perfect Competition | Answers (PDF)
Exercise Set 14: Monopoly | Answers (PDF)
Exercise Set 15: Imperfect Competition | Answers (PDF)
Exercise Set 16: Market Failure | Answers (PDF)
Exercise Set 17: Income Inequality



Pearls of wisdom

In a 1999 speech on business ethics, the CEO of one of the biggest corporations said that it was the responsibility of the board to "ensure legal and ethical conduct by the company and by everybody in the company."

The name of the CEO? Kenneth Lay

The corporation? Enron

Ken Lay
BBC News

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