Published Nov 15, 2022
This course provides an introduction to microeconomic analysis relevant for understanding the Canadian economy. 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 are the main topics covered.
Prereq: Not open to Management Engineering students. Antireq: ECON 100/COMM 103
| Be able to explain what economics is and what economics is not. |
| Understand how changes in the supply and demand of a good affects its price in a competitive market. |
| Distinguish efficiency and equity criteria in evaluating economic policy. |
| Dates | Section | Topic | Chapter |
September 7, 12 September 14, 19 | Introduction | What is Economics? The Economic Problem | 1 2 |
September 21, 26 September 28, October 3 October 5, 17 October 19, 24 | How Markets Work
| Demand and Supply Elasticity Efficiency and Equity Government Actions in Markets | 3 4 5 6 |
October 26, 31 November 2, 7 | Households' Decisions | Utility and Demand Possibilities, Preferences, and Choices | 8 9 |
November 9, 14 November 16 November 21 | Firms and Markets | Output and Costs Perfect Competition Monopoly | 10 11 12 |
| November 23, 28 | Market Failures | Externalities | 15 |
| November 30, December 5 | Inequality | Economic Inequality | 18 |
Lectures will follow PDF slides, which will be posted on LEARN before lectures. The slides will follow the textbook readings closely, but will on occasion deviate. You are responsible for knowing everything covered in the lecture slides, but not for textbook material not covered in the slides. I would recommend downloading and saving/printing the lecture slides as they become available and coming to all lectures prepared to add personal notes to your slides. Note that the lecture content may deviate slightly from the dates above, but I will try to maintain the schedule throughout the term.
| Title / Name | Notes / Comments | Required |
|---|---|---|
| Michael Parkin and Robin Bade, "Microeconomics: Canada in the Global Environment" (11th edition), Pearson, 2022. | eText is required and available from the publisher's website or the University Bookstore (see links below). | Yes |
Publisher's website: https://www.pearson.com/en-ca/subject-catalog/p/microeconomics-canada-in-the-global-environment/P200000002420/9780136692478.
Bookstore website: https://wstore.uwaterloo.ca/ac-parkin-bade-180-day-e-text-for-microeconomics-11th-ed.html.
The publisher's website also offers MyLab. The apps and study tools provided with MyLab are highly recommended, but not compulsory. To register for MyLab use the course ID: skuterud88565. Note that all the administration of the course, including distributing and handing in assignments, will be through LEARN, not MyLab.
Hard copies of the textbook are no longer being printed by the publisher, but used copies, including earlier editions, are acceptable.
| Component | Value |
|---|---|
| Term tests | 2 x 15% = 30% |
| Assignments | 3 x 10% = 30% |
| Final exam | 40% |
There will be two term tests, which will be held on October 7 and November 18 at 4:30pm -- 6:00pm. You will be assigned to a classroom where you will write your term test. Room assignments will be posted on LEARN the week before each test. You will also be responsible for completing three written assignments during the term. Assignments will require you to submit a one-page written discussion of an article, podcast, or video discussing a current economic issue, which will be distributed on LEARN during the term. Assignments will be due September 30, October 28, and November 25 at 11:59pm. Last, there will be a final exam during the final exam period (December 9-23), which will be scheduled by the Registrar's Office. The final exam schedule will be released on October 3.
Should you miss a term test, a grade of zero will automatically be assigned. If you miss a term test due to illness, which can be documented with a UW Verification of Illness Form (doctors' notes will not be accepted), the weight of your missed term test may be transferred to your final exam. To obtain approval for this re-weighting, you need to see me during my office hours with your Verification of Illness Form within 48 hours of missing the term test. Do not email me Verification of Illness Forms or requests to re-weight your grades. Should you miss the final exam, a grade of zero will be assigned. If you miss the final exam due to illness, approval to write a deferred exam may be obtained. Details on requesting a deferred exam, can be found here: https://uwaterloo.ca/economics/undergraduate/resources-and-policies/deferred-final-exam-policy. Requests for deferred exams must be received within 48 hours of the scheduled exam time. Deferred exams will not be provided to students who missed both term tests during the term.
Text matching software (Turnitin) will be used to screen assignments in this course. This is being done to verify that use of all material and sources in assignments is documented. In the first week of the term, details will be provided about the arrangements for the use of Turnitin and alternatives in this course. See Administrative Policy below for more information and links.
All deferred Final Exam requests for economics courses are administered by the Economics Undergraduate Office. Please consult the Deferred Exam Policy at
https://uwaterloo.ca/economics/undergraduate/resources-and-policies/deferred-final-exam-policy.
All of us need a support system. The faculty and staff in Arts encourage students to seek out mental health support if they are needed.
On Campus
Due to COVID-19 and campus closures, services are available only online or by phone.
Off campus, 24/7
Full details can be found online on the Faculty of Arts website
Download UWaterloo and regional mental health resources (PDF)
Download the WatSafe app to your phone to quickly access mental health support information.
Academic integrity: In order to maintain a culture of academic integrity, members of the University of Waterloo community are expected to promote honesty, trust, fairness, respect and responsibility. [Check the Office of Academic Integrity for more information.]
Grievance: A student who believes that a decision affecting some aspect of their university life has been unfair or unreasonable may have grounds for initiating a grievance. Read Policy 70, Student Petitions and Grievances, Section 4. When in doubt, please be certain to contact the department’s administrative assistant who will provide further assistance.
Discipline: A student is expected to know what constitutes academic integrity to avoid committing an academic offence, and to take responsibility for their actions. [Check the Office of Academic Integrity for more information.] A student who is unsure whether an action constitutes an offence, or who needs help in learning how to avoid offences (e.g., plagiarism, cheating) or about “rules” for group work/collaboration should seek guidance from the course instructor, academic advisor, or the undergraduate associate dean. For information on categories of offences and types of penalties, students should refer to Policy 71, Student Discipline. For typical penalties, check Guidelines for the Assessment of Penalties.
Appeals: A decision made or penalty imposed under Policy 70, Student Petitions and Grievances (other than a petition) or Policy 71, Student Discipline may be appealed if there is a ground. A student who believes they have a ground for an appeal should refer to Policy 72, Student Appeals.
Note for students with disabilities: AccessAbility Services, located in Needles Hall, Room 1401, collaborates with all academic departments to arrange appropriate accommodations for students with disabilities without compromising the academic integrity of the curriculum. If you require academic accommodations to lessen the impact of your disability, please register with AccessAbility Services at the beginning of each academic term.
Turnitin.com: Text matching software (Turnitin®) may be used to screen assignments in this course. Turnitin® is used to verify that all materials and sources in assignments are documented. Students' submissions are stored on a U.S. server, therefore students must be given an alternative (e.g., scaffolded assignment or annotated bibliography), if they are concerned about their privacy and/or security. Students will be given due notice, in the first week of the term and/or at the time assignment details are provided, about arrangements and alternatives for the use of Turnitin in this course.
It is the responsibility of the student to notify the instructor if they, in the first week of term or at the time assignment details are provided, wish to submit alternate assignment.