Economics 451: Pre-Requisite Course to the MBA Program
Introduction to Microeconomics and Macroeconomics
Professor Ananish Chaudhuri
Summer 2001
Economics 451: Pre-Requisite Course to the MBA Program
Introduction to Microeconomics and Macroeconomics
Professor Ananish Chaudhuri
Summer 2001
For a lot more information on each of the topics to be studies, case studies, news summaries and other links including Greg Mankiw's column in Fortune Magazine, Click Here.
I strongly encourage all of you to take a look at Paul Krugman's Column in the New York Times as often as you can. Krugman is currently on the Economics faculty of Princeton University. He received his B.A. from Yale University in 1974, and his Ph.D. from MIT in 1977. From 1977 to 1979 he taught at Yale; then moved to MIT, where he remained on the faculty from 1979 to 1994, he then moved to Stanford from 1994 until 1996. In 1982-3, on leave from MIT, he served as chief international economist of the Council of Economic Advisers.
However please bear in mind that we will not cover each and every chapter on the text. Please take the online quiz on a particular chapter only after we have covered the material in class and you know for sure that we are going to cover that specific chapter and you are comfortable with that material.
Chapter 1: Ten
Principles of Economics
The Powerpoint Slide of Chapter 1 above, should be read in conjunction with the two handouts entitled "Introduction" and Marginal Analysis" which appears below in the Additional Readings Section.
Chapter 2: Thinking
Like an Economist
The Lecture Notes on Chapter 2 should be supplemented by reading the handout on "Production Possibility Curves" which appear in the Additional Readings Section.
Chapter 4: The Market
Forces of Demand and Supply
Chapter 5: Elasticity
and Its Application
Chapter 6: Supply Demand
and Government Policies
Chapter 7: Consumers,
Producers and the Efficiency of Markets
Chapter 13: The Costs of
Production
Chapter 14: Firms in
Competitive Markets"
Chapter 22: Measuring a
Nation's
Income
Chapter 23: Measuring the
Cost of Living
Chapter 25: Saving,
Investment and the Financial System
Chapter 27: The Monetary
System
Chpater 29: Open Economy
Macroeconomics: Basic Concepts
Chapter 30: A
Macroeconomic Theory of the Open Economy
The handouts below are designed to supplement the textbook. Many of the handouts that appear below were created by Professor Robert Rosenman, Professor of Economics, Washington State University, Pullman. These materials are being used on this website with his permission. I am grateful to Professor Rosenman for letting me use his material and I thank him sincerely for doing so.
Consumer
Choice and Utility Maximization