Economics 310: Price Theory
(Fall 1998)
Updated 9/23/98
Textbook: Steven Landsburg, Price
Theory and Applications, 4th Edition.
Course Outline.
1. Supply, Demand, and Equilibrium
2. Prices, Costs, and the Gains from Trade
3. Behavior of Consumers
4. Consumers in the Marketplace .
FIRST EXAM: Date to be announced.
The exam will cover Chapters 1-4 in Landsburg. The exam will consist of short answer
and essay questions and will count for 25% of your grade. The exam is closed book and
closed note. Students must bring a blank bluebook and pen to the exam. The exam will last
75 minutes. The remaining class time will be used to go over the answers.
5. The Behavior of Firms
6. Production and Costs
7. Competition
- Recreational Reading Assignment: Milton Friedman, CAPITALISM
AND FREEDOM
- Recreational Reading Assignment: Hedrick Smith THE RUSSIANS,
SECOND EXAM: Date to be announced
The exam will cover Chapters 5-7 in Landsburg. The exam is closed book and closed note.
The exam will count for 25% of your grade.
8. Welfare Economics and the Gains from Trade
The student is responsible for reading Chapter 8 on their own.
9. Knowledge and Information
- The student is responsible for reading Chapter 9 on their own.
10. Monopoly
11. Market Power, Collusion, and Oligopoly (Optional)
FINAL EXAM:
The final exam is comprehensive. All topics will be given equal weight. Students should
bring a bluebook, calculator, and pen to the exam.