Micro-Economics Notes
ECON 201 Introduction to Microeconomics Lecture Notes
Second Edition
HANY FAHMY
E. info@hftutoring.com w. www.hftutoring.com T. 514 979 4232
This material is copyrighted and the author retains all rights. No part of this material may be reproduced or transmitted in any forms or by any means, or sorted in a data base or retrieval system without the prior written permission of HF Consulting.
COURSE
PACKAGE INFORMATION
This is a free copy of the first part of ECON 201 course package. If you are interested to know more about this course package or any other course you are currently taking, please take a minute and check our website w w w. h f t u t o r i n g . c o m or call us on 514 963 3707 or 514 979 4232
You can also benefit from our WALK IN promotions on all our services: Weekly Tutorials Crash Courses Private Tutoring Free Advising with our instructors Just visit our office located on 2015 Drummond (with Maisonneuve), 8th floor, Suite 822 to learn more about these promotions.
Looking forward to hearing from you and wishing you a great semester!
The Administration
HF Tutoring
ECON 201, Winter 2010 Lecture Notes on The Price Theory: Demand, Supply, Market Equilibrium, and Applications
Hany Fahmy1
This lecture note discusses the price theory and its applications. The theory is introduced after a brief review of some basic concepts. The demand and supply of a normal good are de…ned and explained in detail. Practice problems and examples are used for illustration. The concept of market equilibrium is introduced and the e¢ ciency conditions are explained. The government interventions, through the implementation of price ceilings, ‡ oors, taxes, quotas, and subsidies, and the e¤ects of these policies on the market equilibrium are discussed. The notion of elasticity is explored and …nally, externalities and the other causes of market failure are explained by means of examples.
1
E-mail address: hany.fahmy@hf-consultingco.com
1
Second Edition
HANY FAHMY
E. info@hftutoring.com w. www.hftutoring.com T. 514 979 4232
This material is copyrighted and the author retains all rights. No part of this material may be reproduced or transmitted in any forms or by any means, or sorted in a data base or retrieval system without the prior written permission of HF Consulting.
COURSE
PACKAGE INFORMATION
This is a free copy of the first part of ECON 201 course package. If you are interested to know more about this course package or any other course you are currently taking, please take a minute and check our website w w w. h f t u t o r i n g . c o m or call us on 514 963 3707 or 514 979 4232
You can also benefit from our WALK IN promotions on all our services: Weekly Tutorials Crash Courses Private Tutoring Free Advising with our instructors Just visit our office located on 2015 Drummond (with Maisonneuve), 8th floor, Suite 822 to learn more about these promotions.
Looking forward to hearing from you and wishing you a great semester!
The Administration
HF Tutoring
ECON 201, Winter 2010 Lecture Notes on The Price Theory: Demand, Supply, Market Equilibrium, and Applications
Hany Fahmy1
This lecture note discusses the price theory and its applications. The theory is introduced after a brief review of some basic concepts. The demand and supply of a normal good are de…ned and explained in detail. Practice problems and examples are used for illustration. The concept of market equilibrium is introduced and the e¢ ciency conditions are explained. The government interventions, through the implementation of price ceilings, ‡ oors, taxes, quotas, and subsidies, and the e¤ects of these policies on the market equilibrium are discussed. The notion of elasticity is explored and …nally, externalities and the other causes of market failure are explained by means of examples.
1
E-mail address: hany.fahmy@hf-consultingco.com
1