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INTRODUCTION TO MICROECONOMICS
E201

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Dr. David A. Dilts
Department of Economics, School of Business and Management Sciences Indiana - Purdue University - Fort Wayne $$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$

May 10, 1995 First Revision July 14, 1995 Second Revision May 5, 1996 Third Revision August 16, 1996 Fourth Revision May 15, 2003 Fifth Revision March 31, 2004 Sixth Revision July 7, 2004 $$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$ $$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$

Introduction to Microeconomics, E201

8 Dr. David A. Dilts

All rights reserved. No portion of this book may be reproduced, transmitted, or stored, by any process or technique, without the express written consent of Dr. David A. Dilts

1992, 1993, 1994, 1995 ,1996, 2003 and 2004

Published by Indiana - Purdue University - Fort Wayne for use in classes offered by the Department of Economics, School of Business and Management Sciences at I.P.F.W. by permission of Dr. David A. Dilts

TABLE OF CONTENTS
Preface.............................................................................................................................. ii Syllabus............................................................................................................................. iv I. Lecture Notes 1. Introduction to Economics ...................................................................................... 2. Economic Problems................................................................................................ 3. Interdependence and the Global Economy ............................................................ 4. Supply and Demand ............................................................................................... 5. Elasticity ................................................................................................................. 6. Consumer Behavior................................................................................................ 7. Costs ...................................................................................................................... 8. Competition ............................................................................................................ 9. Monopoly ................................................................................................................ 10. Resource Markets .................................................................................................. 11. Wage Determination............................................................................................... 12. Epilogue.................................................................................................................. II. Reading Assignments 1. Introduction to Economics ...................................................................................... 71 2. Economic Problems................................................................................................ 87 3. Interdependence and the Global Economy ............................................................ 101 4. Supply and Demand ............................................................................................... 116 5. Elasticity...
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