INTRODUCTION TO COURSEPACK FOR PROFESSOR MORELAND’S
INTRODUCTION TO COURSEPACK
FOR
PROFESSOR MORELAND’S
ECONOMICS 202
Welcome to the wonderful world of MICROECONOMICS. This coursepack provides material that will aid you in your study of microeconomics. You are responsible for all of the material in this coursepack. If you have difficulty interpreting graphs, please review the refresher page on graphs that follows. After this graphical exercise, material will generally follow in the order for the sections listed in your class syllabus. This material will generally include:
1. A selection of diagrams, tables, or definitions that will be used in lecture.
2. A selection of problems and multiple-choice questions. Answers to the multiple choice questions are provided on the last page of the coursepack.
Bring your coursepack to class. The coursepack diagrams and tables help to ensure that you have good copies of those used in class, and they save class time. Do the problems in the coursepack well before the exam so that you have a chance to ask questions about them. Often students who have done poorly are those who did not give careful consideration to the coursepack questions.
The materials in this coursepack, along with your text, will help you to understand lecture material; however, they are not a replacement for attending lectures. Lecture attendance is
essential for success in this course.
1
A One Page Refresher on Graphs
"Economic theory is mathematical analysis."
-Paul Samuelson (Nobel Prize 1970) tangent line
y
A
y = g(x)
C
y = mx + b
(x2,y2)
Δy
B
ordinate
(vertical axis)
(x1,y1)
m = Δy/Δx
Δx
(0,b) b abscissa (horizontal axis)
1.
Slopes And Relationships Between Two Variables
The slope of a curve measures how the ordinate, y, value changes as the abscissa, x, value changes. If the slope is positive, there exists a positive relationship between the two variables: as the value of x increases, the value of y will increase. A
positive
FOR
PROFESSOR MORELAND’S
ECONOMICS 202
Welcome to the wonderful world of MICROECONOMICS. This coursepack provides material that will aid you in your study of microeconomics. You are responsible for all of the material in this coursepack. If you have difficulty interpreting graphs, please review the refresher page on graphs that follows. After this graphical exercise, material will generally follow in the order for the sections listed in your class syllabus. This material will generally include:
1. A selection of diagrams, tables, or definitions that will be used in lecture.
2. A selection of problems and multiple-choice questions. Answers to the multiple choice questions are provided on the last page of the coursepack.
Bring your coursepack to class. The coursepack diagrams and tables help to ensure that you have good copies of those used in class, and they save class time. Do the problems in the coursepack well before the exam so that you have a chance to ask questions about them. Often students who have done poorly are those who did not give careful consideration to the coursepack questions.
The materials in this coursepack, along with your text, will help you to understand lecture material; however, they are not a replacement for attending lectures. Lecture attendance is
essential for success in this course.
1
A One Page Refresher on Graphs
"Economic theory is mathematical analysis."
-Paul Samuelson (Nobel Prize 1970) tangent line
y
A
y = g(x)
C
y = mx + b
(x2,y2)
Δy
B
ordinate
(vertical axis)
(x1,y1)
m = Δy/Δx
Δx
(0,b) b abscissa (horizontal axis)
1.
Slopes And Relationships Between Two Variables
The slope of a curve measures how the ordinate, y, value changes as the abscissa, x, value changes. If the slope is positive, there exists a positive relationship between the two variables: as the value of x increases, the value of y will increase. A
positive