Department of Economics

Bishop’s University
ECO 102: Principles of Microeconomics
Fall 2020
Course Outline

Professor: Terry Eyland

Office: Dobson Lagacé 201 (Entrepreneurship Centre / Cormier Centre)
Office hours: Mondays 11:30-1:15, Thursdays 12:00-1:15 and by appointment.
Phone: (819)-822-9600 ext. 2752
Email: teyland@ubishops.ca
_____________________________________________________________________________

Course Description:
This course provides an introduction to microeconomic theory and its applications. Topics
covered in this course include (i) an introduction to microeconomics, including the basic
demand-supply model; (ii) consumer and producer behaviour, including consumer utility
maximization and production and costs of firms; (iii) the theory of market structure, including
the role of competition, monopoly, and strategic interactions between firms; and (iv)
microeconomic applications such as the analysis of taxation, public goods, and international
trade.

Course Text:
Christopher T. S. Ragan (2019). Microeconomics. 16th Canadian Edition, Pearson-Addison
Wesley. (or previous edition)
Link for online lectures and notes will be found on the moodle page (password: khantestbu).

Course Evaluation:
Course evaluation is based on one of the following options, whichever gives the student the
highest possible grade (You need to pass the final exam to pass the class):
*** Anyone caught cheating on any exam will receive a grade of 0 and will be reported.

(1) Pre week quizzes (30%), online quizzes (best 5 of 6) (30%) and final exam (40%) OR
(2) Pre week quizzes (10%), online quizzes (best 5 of 6) (30%) and final exam (60%) OR
(3) Online quizzes (best 5 of 6) (25%) and final exam (75%)

Online Quiz 1 (Chap. 1, 2/32) Friday September 18, 2020 (on Moodle)
Online Quiz 2 (Chap. 3, 4) Friday October 2, 2020 (on Moodle)
Online Quiz 3 (Chap. 6, 5, 6a) Friday October 16, 2020 (on Moodle)
Online Quiz 4 (Chap. 7, 8, 9) Friday November 6, 2020 (on Moodle)
Online Quiz 5 (Chap. 10, 11) Friday November 20, 2020 (on Moodle)
Online Quiz 6 (Chap. 18, 16) Friday December 4, 2020 (on Moodle)
Final Exam TBD
In this course, online proctoring (also known as online invigilation) will be used to monitor
student activity during the quiz 6 and final online exam. The University’s online proctoring
platform is called Proctorio. There is no extra fee for students or Faculty when using Proctorio.
Your final grade will automatically be determined by the larger sum of the three listed options
(no choosing required). No other alternative-grading scheme is available. There will be no
make-up exam. No supplemental exam will be provided for this course (see page 31 of Bishop’s
University Academic Calendar 2020/2021).

Calculators required (graphical calculators and cellular phones forbidden). Student ID

card required for all exams.

IMPORTANT NOTE:
Please DO NOT make any travel arrangement during the final exam period. The last day of final
exam for Fall 2020 is December 17, 2020. You MUST make yourself available to write the
final exam on the scheduled date as assigned by the Records Office.

The quizzes only contain multiple-choice questions. The final exam contains multiple-choice,
short answer and / or long answer questions.

Topics and Readings:

Week (from …) Material Topics

1 (Sep 10-16) Chapter 1 and 2/32 Introduction, Production
Pre class Q1 Sep 14 possibility frontier,
international trade
2 (Sep 17-23) Chapter 3 Demand-supply model
Pre class Q2 Sep 21
3 (Sep 24-30) Chapter 4 Elasticity
Pre class Q3 Sep 28
4 (Oct 1 - Oct 7) Chapter 6 and 5 Social welfare, price controls
Pre class Q4 Oct 5
5 (Oct 8 - Oct 14) Chapter 6 app. Consumer behaviour
Pre class Q5 Oct 12
6 (Oct 15- Oct 21) Chapter 7 Production decisions and costs
Pre class Q6 Oct 19 in the short-run
7 (Oct 22- Oct 28) Chapter 8 Production decisions and costs
Pre class Q7 Oct 26 in the long-run
8 (Oct 29- Nov 4) Chapter 9 Competitive markets
Pre class Q8 Nov 2 (Perfect competition)
9 (Nov 5- 11) Chapter 10 Monopoly
*Nov 10 study day
Pre class Q9 Nov 9
10 (Nov 12-18) Chapter 11 Imperfect competition:
Pre class Q10 Nov 16 oligopoly and monopolistic
competition
11 (Nov 19-25) Chapter 18 Taxation
Pre class Q11 Nov 23
12 (Nov 26- Dec 2) Chapter 16 Market failures, public goods
Pre class Q12 Nov 30
Final (TBA) on all chapters