ECO201, Principles of Microeconomics
Fall 2007
Professor Gail Hoyt

Current Announcements Lectures
Tuesday and Thursday
Sec. 12: 9:30-10:45 BE248 

Sec 8: 12:30-1:45 PM Memorial Hall
Previous Announcements
Lecture Overheads Office: 335D BE
Lecture Handouts at bottom of page - scroll down Office Hours: 11:00 AM -12:00 PM Monday and Wednesday

2:00 - 2:30 PM
Tuesday and
  or by appointment
The Syllabus Phone: 257-2517 e-mail:
Information Sheet  

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Employee of the 21st Century


New Announcements

Announcements for Tuesday, April 24
No class on Thursday, April 26 (memorial hall class only)
Grades posted on wall
Seating Chart Posted on Wall
Final exam 6:00-8:00 PM Tues. May 1 in Memorial Hall
For Today: 
    Course evaluations
    Monopoly Lecture

Lecture Notes for Tuesday, April 24

Announcements for Thursday, April 19
One new handout – white grade summaries
One old handout – blue final exam info
Grades posted on wall
Must know today if you need make up final
For Today:
    Perfect Competition
    Profit Maximizing Condition – Graphs
    Shut Down Rule
    Long Run Equilibrium
For Tuesday:
    Monopoly Lecture – Last Day of Class (section 8 only)

Lecture Notes for Thursday, April 19

Announcements for Tuesday, April 17
One new handout – Blue – final exam info
Final Exam Information Sheet
Content Overview Study Sheet
Three old handouts –white, green, yellow
For Thursday:
Read (276-291)
Grade Reports
For Today:
Collect Poems

Submit Exam Conflict Forms
Finish Costs in the Short Run
Costs in the Long
Market Structure and Perfect Competition

Lecture Notes for Tuesday, April 17

Announcements for Thursday, April 12
Three new handouts – green, yellow, and white
For Tuesday:
Poems due (Quiz 22)
Read 253-271
For Today:
Quiz #21
Return Exam 2

Practice Questions Over Theory of the Firm

Announcements for Tuesday, April 10
One New Handout – white-quiz 20
For Thursday:
    Will be returning exams during class
    Quiz #21 during class
For Tuesday, April 17
-Read 253-271 in text
 -Quiz  #22 Economics Poem Due - last quiz
For Today:
    -Quiz 20 during class – group activity
    -Theory of the Firm(144-149 in packet)
        Why firms?   
        Principal-agent relationships
        Production Theory
        Product Curves
        Introduction to Costs

Lecture Notes for Tuesday, April 10

Announcements for Tuesday, April 3, 2007
Exam 2 will take place on Thursday, April 5 during regular class time.
For section 8 will use seating chart posted on wall
For Tuesday, April 10th:
Read 214-227 and 232-245 in text
Quiz 20 During Class - activity
For Today:
Review for Exam II
Lecture Notes for Tuesday, April 3

Announcements for Thursday, March 29
Exam II on Thursday, April 5
Review on Thursday, April 3
No old or new handouts
(resubmit quiz 9/10 if you have not)
For Today:
-Elasticity and the Burden of a Tax
-Quiz #19
-Utility Theory

Lecture Notes for March 29

Announcements for Tuesday, March 27, 2007
Exam II on Thursday, April 5
Two old handouts: white and pink
For Tuesday:
    Read 188-204
    Quiz #19 over taxation (will give ? at end of class)
For Today:
     Review Elasticity
Elasticity Quiz #18
Taxation and Government Intervention
    I. Introduction
    II. The Benefits and Costs of Taxing
    III. Two Principles Taxation
    IV. Elasticity and the Burden of a Tax

Lecture Notes for March 27

Announcements for Thursday, March 22, 2007
Two new handouts – white quiz and pink exam info
Two old handouts – white and green
For Tuesday:  review 166-183 in text, Quiz over all elasticity lectures (3/8, 3/20, 3/22)
For Today:
Quiz 16 over articles
Review of Elasticity
Elasticity of Supply
Income Elasticity
Cross-price elasticity
Introduction to taxation

Exam 2 Information Sheet

Lecture Notes for March 22

Announcements for Tuesday, March 20, 2007
No old handouts
Two new handouts-green and white (white articles not available on line)

Green Practice Questions over Elasticity, Taxation, and Utility Theory and Key

For Thursday – read 166-183 in text
Quiz #16 over new article packet
For Today:
      - Quiz #15 during class
Review of Elasticity
Elasticity graphically
Determinants of Elasticity
Elasticity and Total Revenue
Elasticity of Supply

Tues., 3-20:         Elasticity
Thurs., 3-22:        Elasticity and Taxation
Tues.,  3-27         Taxation
Thurs., 3-29:        Utility
Tues.,  4-3:        Intro to Theory of Firm
Thurs., 4-5:          Exam 2
Lecture notes from Tuesday, March 20

Announcements for Thursday, March 8, 2007
No new handouts
One old handout – green practice questions
Today: 3-8    Finish Market Failure
                -minimum wage
                -trade issues
                -start elasticity
Tues., 3-20:         Elasticity
                Read pages 166-183
Thurs., 3-22:        Elasticity and Taxation
Tues.,  3-27         Taxation
Thurs., 3-29:        Utility
Tues.,  4-3:        Review for exam 2
Thurs., 4-5:          Exam 2
Lecture notes from Thursday, March 8

Announcements for Tuesday, March 6, 2007
One new handout-green Market Failure Practice Questions and Key
Two old handouts – blue and white
Grade Reports Posted on Walls
For Thursday March 8
Quiz over market failure
Read 140-160 in text
Review blue article packet
For Today:  
    collect quiz over externalities
Market Failure
     -  Review
     -  Income Distribution
     - Price Controls
Lecture notes from Tuesday, March 6

Announcements for Thursday, March 1, 2007
Two new handouts
-Blue article packet and white quiz sheet  (article packet not available on web - can get outside Dr. Hoyt's office - 335D in business college)
White Handout Quiz 13 Due in class on Tuesday, March 6

Two old handouts – ivory article packet and yellow exam key
For Tuesday:
Read new article packet
Quiz #13 on white sheet due (over articles)
For Today:
Lecture on Market Failure
Quiz #12 during class
Conference sign up sheet up front
Lecture notes from Thursday, March 1

Announcements for Tuesday, February 27, 2007
Two new handouts – article packet – ivory and exam key - yellow (not available on line)
For Thursday, March 1:
Review pages in text: 39-45, 121-128, 135-136,     422-437
Read article packet (Quiz 12 over these articles on Thursday, March 1)
For today:
     Quiz #11
The Role of Government in the U.S. Economy - Market failure
-lack of competition
Return and discuss exams
Lecture notes from Tuesday, February 27

Announcements for Thursday, February 22, 2007
One new handout – Quiz 9/10  (pink)  Quiz 9/10 assignment
If you are not in class on February 22 you have the option to complete quiz 9/10 on your own and submit at the beginning of class on Tuesday, February 22
For Tuesday:
Read 121-128, 135-136, and 422-437 in text
On Tuesday, lecture and return exams
For Today
Short lecture over shifting supply and demand
Time in class to complete quiz 9/10
Lecture notes from Thursday, February 22

On Tuesday, February 20 students took the first exam.

Announcements for Thursday, February 15, 2007
Exam I Tuesday, February 20th
No new handouts
For Thursday, February 22: (after test)
    Two quiz credit activity based on articles and     short lecture
    Will have “not there” option – handout on web Today:
    About the Exam
    (unclaimed quizzes in folders up front)
    Finish Supply/Demand Lecture
    Test Taking Tips
Seating chart posted on walls
Lecture notes from Thursday, February 15

Announcements for Tuesday, February 13, 2007
Three old handouts: pink, green, yellow
No new handouts
Exam 1 on Tuesday, February 20th
Seating chart for exam posted on wall
For Thursday – finish lecture and review for exam
For Today:
    Review Supply and Demand
    Shifting Demand
    Shifting Supply
Quiz #8 during class
Lecture notes from Tuesday, February 13

Anouncements for Thursday, February 8
One old handout (ivory)
Three new handouts (pink (exam 1 review sheet), green(practice questions for supply and demand), and yellow (articles))  Articles are not available on the website.
Supply/Demand Practice Questions and Key
Exam 1 Information Sheet
Return Quizzes in folders up front (quizzes 2, 4, and 7)
For Tuesday:
      Read last article packet
      Quiz #8 During Class over new article packet
For Today: 
    Supply and Demand Together-Equilibrium
    Disequilibrium (scalping)
Seating Chart Posted on Tuesday
Lecture notes from Thursday, February 8

Announcements from Tuesday, February 6, 2007

Exam I – Tuesday, February 20 during class
Will use seating chart – posted next week

Quizzes in folders up front
No old handouts
One New Handout:  article packet  (not available on web site)
For Thursday:
    Read 114-121 and 133-135 in text (last text reading before test)
    Read new article packet
For Today:
Quiz #6 over PPFs
Brief Discussion of Quiz #7 from last time
Closing Thoughts on Economic Systems
The Taxonomy of a Market Economy
Introduction to Demand and Supply
Lecture notes from Tuesday, February 6

Announcements for Thursday, February 1, 2007
One old handout: blue article questions
No new handouts
For Tuesday:
    read 90-109 in text
    Two Important Questions
   Economic Systems (pp.41-42 in packet)
    Video – Milton Freedom – The Power of the Market
    Group activity on articles-quiz 7
Lecture notes from Thursday, February 1

Announcements For Tuesday, January 30, 2007
Two old handouts: green practice and white articles
One New Handout: blue quiz #7 (snow plan)  Quiz #7 for Thursday, February 1
For Thursday:
Read new articles
quiz 7 during class – article discussion questions in groups on Thursday, February 1
(If you can't be in class on 2/1/07 you have the option of answering quiz 7 on your own to turn in on Tuesday, February 6 -instructions are at the top of the quiz 7 assignment sheet.)
Quiz 6 over PPFs (now on Tuesday, February 6)
    - Quiz 5 due-LEAP visit sheet
    - Review
    - Robinson Crusoe II – page 19-20 CP
    - Tiger Woods and his lawn
    - Shifting the PPF
    - Introduction to Economic Systems
Lecture notes from Tuesday, January 30

Announcements from Thursday, January 25, 2007
4 old handouts –Orange quiz #5, yellow key, blue LEAP info, ivory article
2 new handouts
    articles-white -not available electronically
    practice questions-green   Practice Questions over PPFs and Key
articles not available electronically
For Tuesday, January 30:
    read 58-89 in text
    Quiz #5 – LEAP Visit Sheet Due
    Work through pages 19-20 in packet
For Thursday, February 1:
    Quiz #6 during class over new green sheet content
    Quiz #7 over Video and articles during class  
For Today:
    Collect Quiz #4 on blue sheet
    Production Possibility Frontiers
    Robinson Crusoe Example 17-18 in packet
    Specialization and Exchange

Lecture notes from Thursday, January 25

Announcements from Tuesday, January 23, 2007
4 new handouts:
    yellow-practice key Practice Questions Key
    blue (LEAP info)  LEAP LEtter and Schedule
    pink (quiz 5)  Quiz 5 visit to leap
    ivory article-not available electronically

3 old handouts from last Thursday: pink (quiz 2 taken during class), green (practice ?s), blue (quiz 4 due on Thur. Jan. 25)

For Thursday, January 25: 
–    No new text reading (review 23-45)
–    Work pages 17-18 in course packet
–    Quiz #4 Due, blue paper, positive/normative

Quiz 5 Visit to LEAP (pink paper) – due Tuesday, January 30

For Today:
    Take Quiz #3     
    Math Review   
    Introduction to PPFs

Lecture Notes for Tuesday, January 23

Announcements for Thursday, January 18, 2007
One old handout – white article packet
Three new handouts-
    green practice questions  Practice Questions
    pink – quiz #2 for today (only distributed in class)
    blue – quiz 4 (Due on Thursday, January 25) (includes article - not available on website)
For Tuesday:
    Read 23-45 in text
    Try to work pages 11-12 in the course packet
    Quiz #3 over first two days of lecture
    (possibly green handout)
For Today: (submit quiz 1 on stage up front if haven’t yet)
Lecture-The Language of Economics
    IV. Forces Influencing Economic Outcomes
    V. Economic Insights       
    VI. Economic Policy Options
Quiz #2 in Groups
Thursday, January 18 Lecture Note Summary

Announcements for Tuesday, January 16, 2007
Quiz #1 info sheet due today
New Handout:  article packet
For Thursday:
     Read article packet
    Read pp. 49-56 text
    Quiz #2 based on “Lure of Coastal Life…” and video clip during class)
    Bring course packet to class
Tuesday, January 16 Lecture Note Summary

For Today:
Outline:  The Language of Economics
I.    Introduction
II.    Economic Terminology
III.    Economic Reasoning         
A. Economizing
B. Marginal Analysis
C. Opportunity Costs
IV Forces Influencing Economic Outcomes
V.  Economic Insights       
VI. Economic Policy Options

Announcements from Thursday, January 11

    For Tuesday, January 16th
        Quiz #1 Information Sheet Due  Information Sheet
        Read pages 4-18 in the Colander Text


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Previous Announcements

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Lecture Overheads

Assignments and Handouts 

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Class Photos:
ECO201 Section 7 Spring 2003
ECO201 Section 9 Spring 2003
ECO391 Spring 2003
Fall 2003

Spring 2004

Fall 2004

ECO201 Section 7 Fall 2004

ECO201 Section 8 Fall 2004

ECO201 Section 10 Fall 2004

Spring 2005

Fall 2005

ECO201 Section 8 Fall 2005 ECO201 Section 10 Fall 2005