UNIVERSITY OF GUELPH 
ECON*1050 - Introductory Microeconomics 
Comprehensive Revision Guide and Notes 2024 
 
Part A: Revision Notes 
Part B: Sample Examination 
Part C: Suggested Solutions to Exam Paper 
Part D: Study Tips for Students 
 
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University of Guelph - ECON*1050: Introductory Microeconomics (Solutions)

C$35.00

ACADEMIC YEAR 2023 - 2024

University	University of Guelph
Study Level	Undergraduate
Course Code	ECON*1050
Course Name	Introductory Microeconomics
Study Material	Comprehensive Revision Guide and Notes
Page Length	122 pages

Reinforce and practice skills learned with step-by-step support from our best tutors in ECON*1050: Introductory Microeconomics at the University of Guelph to help you achieve your maximum potential. This is a complete revision guide of everything examinable for the course. Within this document, you will find a comprehensive evaluation of the examinable topics in the latest course materials. Every learning outcome that can be tested is explored in depth, and diagrams are provided to aid retention. This guide is extremely helpful for revising all the topics and preparing for the exam.

Course Overview:

(Credit Weight: 0.50) This course gives students an introduction to the economy including the topics of price determination, market structure and resource allocation, the behaviour of consumers and firms, and market intervention by government. Some of the economic issues addressed may include agricultural price supports, rent control, trade policy, environmental regulation, price discrimination, and taxation.

What You'll Learn:

Understand the basic principles of how economists think and analyze problems.
Explain the laws of supply and demand and how they determine prices in markets.
Analyze the impact of government policies and international trade on markets.
Understand consumer behavior and how choices are made based on utility.
Describe how firms make production and cost decisions.
Differentiate between different types of markets (e.g., perfect competition, monopoly).
Identify situations where markets fail and understand the role of government intervention.
Understand how factors of production (e.g., labor, capital) are priced and allocated in markets.

COURSE CODE	COURSE NAME
ACCT*1220	Introductory Financial Accounting
ACCT*1240	Applied Financial Accounting
ACCT*2230	Management Accounting
ACCT*3340	Intermediate Financial Accounting II
ACCT*3350	Taxation
ECON*1050	Introductory Microeconomics
ECON*1100	Introductory Macroeconomics
ECON*2310	Intermediate Microeconomics
ECON*2740	Economic Statistics
ECON*3740	Introduction to Econometrics
FIN*2000	Introduction to Finance
FIN*3000	Investments
FIN*3100	Corporate Finance
FIN*3200	Fundamentals of Derivatives
FIN*3500	Money, Credit, and the Financial System
HROB*2090	Individuals and Groups in Organizations
MCS*1000	Introductory Marketing
MCS*3040	Business and Consumer Law
STAT*2040	Statistics I
STAT*2060	Statistics for Business Decisions
STAT*4360	Applied Time Series Analysis

University of Guelph - ECON*1050: Introductory Microeconomics (Solutions)

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COURSE DESCRIPTION

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