Introductory Microeconomics

ECON 111/3.0

An introduction to microeconomic analysis of a modern mixed economy. The course analyzes the behaviour of individual consumers and producers, the determination of market prices for commodities and resources, and the role of government policy in the functioning of the market system. ECON 111/3.0 and ECON 112/3.0 are together equivalent to ECON 110/6.0.

Description

There are two main branches in Economics: Microeconomics and Macroeconomics. Economics courses are commonly divided into two sections to deal with "Micro" and "Macro" separately. Microeconomics (the subject of this course) by its name suggests that it is primarily concerned with the smaller economic agents - the consumer, the producer, the buyer, the seller, inputs, outputs, etc. Macroeconomics, on the other hand, is primarily concerned with the larger economic agents – governments, taxes, national income, inflation, monetary and fiscal policy.

Whether you take Micro or Macro as your first course in economics will not hinder your understanding of the material. However, it is generally accepted that if one has a strong understanding of the micro concepts, one will have a stronger appreciation and awareness of macroeconomics; because macroeconomics is in a sense, the "summation" of microeconomics.

Evaluation

3 Online Quizzes30%
Group Written Assignments (best 1 out of 2)10%
Final Exam60%

**Evaluation subject to change**

Note: Students will need to pass the final exam in order to pass the course.

Final Examination

Students must write their exam on the day and time scheduled by the University. The start time may vary slightly depending on the off-campus exam centre. Do not schedule vacations, appointments, etc., during the exam period

Topics

PART I: INTRODUCTION
  • Economic Issues and Concepts
  • How Economists Work
  • The Gains from International Trade

PART II: SUPPLY AND DEMAND APPLICATIONS

  • Demand, Supply, and Price
  • Elasticity
  • Markets in Action
PART III: HOUSEHOLD DECISIONS
  • Consumer Behaviour
  • Supp. Chapter Other Household Decisions
PART IV: PRODUCER HISTORY
  • Producers in the Short Run
  • Producers in the Long Run
PART V: OUTPUT MARKETS
  • Competitive Markets
  • Monopoly
  • Imperfect Competition and Strategic Behaviour
  • Economic Efficiency and Public Policy
PART VI: THE GAINS FROM TRADE REVISITED
  • The Gains from International Trade
  • Trade Policy
PART VII: INPUT MARKETS
  • How Factor Markets Work

Time Commitment

A course such as this on campus would have three lecture hours per week, usually with an assignment to follow. Students can expect to spend, on average, about 10 - 12 hours per week on the course.

Course Resources

About SOLUS

SOLUS is Queen’s Student On-Line University System. You’ll have access to a SOLUS account once you become a Queen’s student. You’ll use SOLUS to register for courses, add and drop courses, update your contact information, view financial and academic information, and pay your tuition.

About MOODLE

Moodle is Queen's online learning platform. You'll log into Moodle to access your course. All materials related to your course—notes, readings, videos, recordings, discussion forums, assignments, quizzes, groupwork, tutorials, and help—will be on the Moodle site.

About Credit Units

Queen’s courses are weighted in credit units. A typical one-term course is worth 3.0 units, and a typical two-term course is worth 6.0 units. You combine these units to create your degree. A general (three-year) BA requires a total of 90 credit units.

Computer Requirements

To take an online course, you’ll need a good-quality computer (Windows XP/Vista/7, Pentium III, or Mac OS X 10.5, G4 or G5 processor, 256 MB RAM) with a high-speed internet connection, soundcard, speakers, and microphone, and up-to-date versions of free software (Explorer/Firefox, Java, Flash, Adobe Reader). See also Preparing For Your Course.

Dates/Deadlines

The deadlines for new applications to Queen’s Arts and Science Online courses are in our Dates and Deadlines section.

Tuition Fees

Tuition fees vary depending when you start, your year, faculty, and program. Fees for 2014-15 first-year Distance Career Arts & Science Canadian students are as follows: for a 3.0-unit course, $605.31; for a 6.0-unit course, $1210.62. See also Tuition and Payment.

Grading Scheme

The information below is intended for undergraduate students in the Faculty of Arts and Science. Academic Regulations in other Faculties may differ.

Letter Grade Grade Point
A+4.30
A4.00
A-3.70
B+3.30
B3.00
B-2.70
C+2.30
C2.00
C-1.70
D+1.30
D1.00
D-0.70
F0.00

GPA Calculators
Have your SOLUS grade report handy and then follow the link to the Arts and Science GPA calculators.

How does this affect my academics?
See the GPA and Academic Standing page.

Follow the link above for an explanation of how the GPA system affects such things as the Dean’s Honour List, requirements to graduate, and academic progression.

Frequently Asked Questions on the Grading Scheme
Please follow this link to the FAQ's

Campus Bookstore

All textbooks can be purchased at Queen’s Campus Bookstore.

Non-Queen’s Students

All Queen’s Arts and Science Online courses are open to students at other universities. Before applying as a visiting student, request a Letter of Permission from your home university that states that you have permission to take the course and apply it to your degree. See also Apply.

Academic Integrity

Please see Queen’s policy statement on academic integrity for information on how to complete an online course honestly.