Quiz 1: Sept. 26th

Quiz 2: Oct. 10th

Midterm: Oct. 24th

Quiz 3: Nov. 7th

Quiz 4: Nov. 21st

Final: TBD



Class Notes

Chapter 1: Supply and Demand
Keywords: substitutes/complements, inferior/normal goods, equilibrium, consumer/producer surplus, price ceiling/floor

Chapter 2: Firms
Keywords: collaboration/competition, specialization, trade, absolute/comparative advantage, transaction cost.

Chapter 3: Production decision
Keywords: accounting/economic profit, explicit/implicit costs, marginal revenue, price elasticity of demand, diminishing marginal return, economies of scale.

Chapter 4: Price discrimination
Keywords: segmentation, personal attributes, product characteristics.

Chapter 5: Public goods and externalities
Keywords: non-rivalry, non-excludability, collective decision-making, tragedy of the commons, positive/negative externalities.

Chapter 6: Taxes
Keywords: efficiency loss, income generation, compliance cost, exceptions consumption tax, progressive income tax, transfer pricing.

Chapter 7: Development Economics
Keywords: accumulation of capital model, microfinance, governance.

Chapter 8: Information asymmetry
Keywords: principal-agent problem, performance incentives, adverse selection, guarantees, moral hazard.

Chapter 9: Behavioural economics
Keywords: negotiation game, beauty contest, present-bias, inertia, salience, anchoring, loss aversion.

Chapter 10: Applied economics
Keywords: impact assessment, self-selection, randomized controlled trials, natural experiments.

Contact Information

Email: Vincent DOT Chandler AT SMU DOT ca
Office hours: M&W 13h00-15h00
                    T&R 14h00-15h00
Office: SB-314