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Rose-Hulman Institute of Technology / Department of Humanities & Social Sciences / K. Christ |
SV151, Principles of Economics
This is a one-quarter social science survey course that introduces students to the subject matter and methods of economics. There are no formal prerequisites for this course. It is required for the economics major and minor, and is suitable as a "Society and Values" elective toward fulfillment of Rose-Hulman's general Humanities and Social Science requirements. Furthermore, this course is a prerequisite for almost all other economics courses offered at Rose-Hulman.
Click here for a syllabus: Spring Quarter 2008 - 2009
Economics blogs:
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Greg Mankiw's Blog: Random Observations for Students of Economics |
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The Economist: Free Exchange |
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Paul Krugman's Blog: The Conscience of a Liberal |
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Mark Thoma's Blog: Economist View |
S c h e d u l e f o r W i n t e r Q u a r t e r 2 0 1 1 - 2 0 1 2
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Date |
Topic |
Readings |
Slides |
Homework |
| 28 Nov. |
Foundations 1: Principle #8 |
Mankiw, chapter 1 | Set 1 | |
| 29 Nov. |
Foundations 2: Principles #1, 2, 3, 4 |
Mankiw, chapter 2 (pages 21 - 28) | ||
| 1 Dec. |
Economics as a social science |
Mankiw, chapter 2 (pages 28 - end) | 1-1 | |
| 2 Dec. |
Interdependence and gains from trade |
Mankiw, chapter 3 | ||
| 5 Dec. |
Demand and supply |
Mankiw, chapter 4 (pages 65 - 76) | Set 2 | 1-2 |
| 6 Dec. |
Equilibrium |
Mankiw, chapter 4 (pages 77 - end) | ||
| 8 Dec. | Price elasticity of demand | Mankiw, chapter 5 (pages 89 - 97) | 1-3 | |
| 9 Dec. |
Other elasticities |
Mankiw, chapter 5 (pages 97 - end) | ||
| 12 Dec. |
Markets and government I: Price controls |
Mankiw, chapter 6 (pages 111 - 121) | Set 3 | 1-4 |
| 13 Dec. |
Markets and government II: Taxes |
Mankiw, chapter 6 (pages 121 - end) | ||
| 15 Dec. |
Market efficiency |
Mankiw, chapter 7 | 1-5 | |
| 16 Dec. |
Examination 1 |
Sample Exam 1 | ||
| 19 Dec. | Welfare analysis of markets I | Mankiw, chapter 7 | Set 4 | |
| 20 Dec. | Welfare analysis of markets II | Mankiw, chapter 7 | ||
| 5 Jan. | Applications: Taxation | Mankiw, chapter 8 | 2-1 | |
| 6 Jan. | Application: International trade | Mankiw, chapter 9 | ||
| 9 Jan. | More on International trade | Mankiw, chapter 9 | 2-2 | |
| 10 Jan. | Externalities | Mankiw, chapters 10 | Set 5 | |
| 12 Jan. | Solutions to externalities; public goods | Mankiw, chapter 11 | 2-3 | |
| 13 Jan. | Introductory comments on production/cost | Mankiw, chapter 12 | ||
| 16 Jan. | Production and cost theory | Mankiw, chapter 12 | Set 6 | |
| 17 Jan. | Market structure; competitive markets | Mankiw, chapter 13 | ||
| 19 Jan. | Competitive markets | Mankiw, chapter 13 | 2-4 | |
| 20 Jan. | Examination 2 | Mankiw, chapter 14 | 2-5 | |
| 23 Jan. | Sample Exam 2 | |||
| 24 Jan. | Intro. to macro; Aggregate output | Mankiw, chapter 23 (pages 508 - 510) and chapter 15 | Set 7 | |
| 26 Jan. | Prices and cost of living | Mankiw, chapter 16 | ||
| 27 Jan. | Resource utilization / unemployment | Mankiw, chapter 20 | 3-1 | |
| 30 Jan. | Aggregate production / economic growth | Mankiw, chapter 17 | Set 8 | 3-2 |
| 31 Jan. | More on economic growth | Mankiw, chapter 18 | ||
| 2 Feb. | Saving and investment | Mankiw, chapter 18 | 3-3 | |
| 3 Feb. | Finance 101 | Mankiw, chapter 19 | ||
| 6 Feb. | Finance 102 | Mankiw, chapter 19 | ||
| 7 Feb. | Monetary system | Mankiw, chapter 21 | Set 9 | 3-4 |
| 9 Feb. | Money and inflation | Mankiw, chapter 22 | 3-5 | |
| 10 Feb. | Examination 3 | Sample Exam 3 | ||
| 13 Feb. | Aggregate Demand and Supply I | Mankiw, chapter 22 | Set 10 | |
| 14 Feb. | Aggregate Demand and Supply II | Mankiw, chapter 23 | ||
| 16 Feb. | Monetary policy | Mankiw, chapter 24 | 4-1 | |
| 17 Feb. | Fiscal policy | Mankiw, chapter 24 | 4-2 | |
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20 Feb. |
Final Examination |
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