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Course Description

Magnifying glass and graphs lying on a table with data analytics superimposed

This course is an analysis of the behaviour of households and firms under alternative assumptions and market conditions.

Learning Outcomes

By the end of the course, the learner should be able to:

  • Use basic problem solving techniques, including calculating elasticities, determining the market equilibrium, computing total, marginal, and average costs, finding profit-maximizing prices and quantities, risk premiums, and Nash equilibria of games;
  • Use algebraic and graphical analysis to demonstrate and interpret various economic models;
  • Critically examine every day economic events by applying microeconomic principles;
  • Apply mathematical concepts and tools to explain basic economic models and the interaction between economic variables;
  • Describe basic principles of microeconomics and demonstrate and discuss the use of basic economic models; and
  • Identify the successes and failures of government intervention in the market and explain the role of public policies.

Course Topics

  • Review of Supply and Demand, Market Equilibrium, Elasticity
  • Balancing Benefits and Costs
  • Consumption Preferences
  • Constraints, Choices, and Demand
  • From Demand to Welfare
  • Production Decisions
  • Cost
  • Profit Maximization
  • Choices Involving Time (selected topics)
  • Choices Involving Strategy (selected topics)
  • Equilibrium and Efficiency
  • Market Interventions
  • Monopoly
  • Pricing Strategies
  • Oligopoly

Additional Requirements

Prerequisite(s): (ECON*1050 or FARE*1040), (1 of IPS*1500, MATH*1030, MATH*1080, MATH*1200)


Assessment Items Weight
Discussion 10%
Assignments (3) 30%
Online Final Exam 60%
Total 100%

Note: You must achieve a passing grade on the Final Examination in order to pass this course.


Additional Technical Requirements

This course will use the following:

  • McGraw-Hill Connect is a digital learning environment administered by McGraw-Hill Education. Visit their website to complete a check that ensures your computer meets the Connect system requirements.
  • Respondus tool to invigilate one or more exams. 
  • Virtual Classroom is a video conferencing tool used to facilitate synchronous virtual meetings.

Please view the Technical Considerations for each.

Technical Requirements

You are responsible for ensuring that your computer system meets the necessary system requirements. Use the browser check tool to ensure your browser settings are compatible and up to date (results will be displayed in a new browser window).

*Course details are subject to change.


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