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McMaster University, Department of Economics, ECON 1B03, C01
ECON 1B03: INTRODUCTORY MICROECONOMICS
C01
Spring 2022
Instructor: Aleksandra Gajic
Email: gajica@mcmaster.ca
Office: KTH 707
Office Hours: Tues: 11:30am – 12:30pm
(KTH 707)
Thurs: 10am – 11am (zoom)
Lecture: C01: Tues, 1pm – 3pm
(JHE 376)
Due to the uncertainty created by the pandemic, some details regarding course content and
assessments in the published course outline may be changed. Please check Avenue to Learn
for the most up-to-date information for this course. The course outline on Avenue to Learn will
supersede previously published outlines until published course outlines are updated.
Page 1 of 21
McMaster University, Department of Economics, ECON 1B03, C01
Contents
Course Objectives ............................................................................................................. 3
Course Materials [Access: McMaster Campus Store] ........................................................ 3
Course Website ................................................................................................................. 3
Course Evaluation ............................................................................................................. 4
Course Structure ............................................................................................................... 4
Course Content ................................................................................................................. 4
Avenue to Learn ................................................................................................................ 5
MyLab Homework (optional) [Access: Avenue > MyLab Pearson widget] ......................... 5
Quizzes [Access: Avenue > Assessments > Quizzes] ...................................................... 6
Access to the First Content Quiz ........................................................................................ 7
Reduce Technical Difficulty ............................................................................................... 8
FINAL EXAM [Access: In-person/On-campus] .................................................................... 8
IF YOU MISS THE FINAL EXAM: .................................................................................. 8
MSAF [Access: Mosaic > Student Centre > Other Academics] ............................................ 9
Course Schedule and Due Dates .................................................................................... 10
Where to Get Help ........................................................................................................... 11
Academic Accommodation for Students with Disabilities ................................................. 12
Course Modification ......................................................................................................... 12
Important Questions and Answers .................................................................................. 13
OFFICIAL UNIVERISTY/FACULTY POLICIES ............................................................... 18
Faculty of Social Sciences e-mail communication policy: ............................................ 18
Academic Integrity: ...................................................................................................... 19
Online Course Elements: ............................................................................................. 19
Conduct Expectations: ................................................................................................. 19
Academic Accommodations of Students with Disabilities: ........................................... 20
Requests for Relief for Missed Academic Term Work: ................................................ 20
Academic Accommodation for Religious, Indigenous and Spiritual Observances: ...... 20
Copyright and Recording: ............................................................................................ 21
Page 2 of 21
McMaster University, Department of Economics, ECON 1B03, C01
Course Objectives
• Explain the basic concepts of demand and supply, consumers and
producers, market structure and policy implications.
• Demonstrate how firms make production and pricing decisions.
• Explain the effect of policy changes on market outcomes.
• Demonstrate how consumers and firms interact to reach equilibrium in
different markets for goods and services.
Course Materials [Access: McMaster Campus Store]
Holmes, H. How to Do Microeconomics. Pearson, 2017 – highly recommended
MyLab: online resource, included with purchase of textbook above – highly
recommended
*You must purchase the course materials through the McMaster campus store. You
may do this online or in-person.
Purchase Options:
1. Physical copy of the textbook + MyLab access: $79.95
2. E-text + MyLab access: $68.95
The e-text with MyLab access is a package; you cannot purchase one without the other
because the e-text is delivered through the MyLab platform. The campus store also has
a limited quantity of the physical copy of the book that you may purchase while
quantities last. The physical copy of the book also includes an access card to MyLab.
Visit the campus store: https://campusstore.mcmaster.ca/cgi-
mcm/ws/txsub.pl?wsTERMG1=222&wsTERMDESC1=Spring%2FSummer+2022&wsD
EPTG1=ECON&wsDEPTDESC1=ECON+-
+Economics&wsCOURSEG1=1B03&wsSECTIONG1=DAY+C01&programG1=McMast
er+Undergrad+and+Graduate&crit_cnt=1
Course Website
Avenue to Learn, or “Avenue” (terms will be used interchangeably)
http://avenue.mcmaster.ca/
MyLab (access through widget in Avenue)
Page 3 of 21
McMaster University, Department of Economics, ECON 1B03, C01
Course Evaluation
MyLab Homework 5% Optional, but highly recommended
Avenue Quizzes 70% Required, see due dates on page 10
Final Exam 25% Required; in-person/on-campus
The MyLab homework is optional. If you choose not to participate in it, it’s weight will be
transferred to the quizzes, making the quizzes worth 75% of your final grade. No action
is needed on your part.
You may not transfer the weight of one or more quizzes to the final exam.
Course Structure
available to
The course will be delivered in a blended format. The lecture content is you in
video format through Avenue. We also meet once a week in-person/on-
campus, on Tuesdays. You will be asked to apply what you have learned in the
videos by completing regular homework, quizzes, and a final exam. You will use weekly
schedules to help keep you on track with readings, watching the videos, and completion of
the practice problems, homework and quizzes as the semester progresses.
Course Content
Ch. 1: Introduction
Ch. 2: Production Possibilities and Gains from Trade
Ch. 3: Demand, Supply and Equilibrium
Ch. 4: Elasticity
Ch. 5: Welfare, Externalities, and Public Goods
Ch. 6: Government Policies
Ch. 7: Costs of Production
Ch. 8: Perfect Competition
Ch. 9: Monopoly
Ch. 10: Monopolistic Competition
Ch. 11: Oligopoly
Ch. 12: Market for Factors of Production
Ch. 13: Consumer Theory
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