Main Content

Schedule

  • Spring and Fall Semesters: 16 weeks
  • Summer Semester: 12 weeks

All assignments are due by 11:59 p.m. (ET) on the last day of each lesson, except where noted.

Please note that supplemental or recommended materials are not required to study. If you want to get more information about the topics that we cover each week and their applications, you can study these supplemental or recommended materials.

Welcome
Welcome and Orientation  
Readings

Required

  • Welcome and Orientation Module
  • Course Syllabus
Assignments
  • Class Introductions Discussion
Lesson 1
Lesson 1 Economic Foundation of Business Strategy; Basics of Supply and Demand
Readings

1.1

  • Required
    • Lesson 1.1 Commentary
    • Chapter 1 of Textbook 1, between pp. 3–11 (Section 1.1: The Themes of Microeconomics, and Section 1.2: What Is a Market?)
  • Real-Life Applications (Recommended)
    • Textbook 1
      • Example 1.1: Market for Sweeteners
      • Example 1.2: A Bicycle Is a Bicycle, or Is It?
      • Example 1.3: The Price of Eggs and the Price of College Education
      • Example 1.4: The Authors Debate the Minimum Wage
      • Example 1.5: Health Care and College Textbooks

1.2

  • Required
    • Lesson 1.2 Commentary
    • Textbook 1
      • The Demand Curve (pp. 23–25)
    • E-Reserve: Section 4-2: Demand, Principles of Microeconomics, Mankiw (2015)
    • Lesson 1.2 Exercise Questions (nongraded)

1.3

  • Required
    • Lesson 1.3 Commentary
    • Textbook 1
      • The Supply Curve (pp. 22–23)

1.4

  • Required
    • Lesson 1.4 Commentary
    • Textbook 1 (pp. 25–32)
      • Section 2.2: The Market Mechanism
      • Section 2.3: Changes in Market Equilibrium
    • Lesson 1.4 Exercise Questions (nongraded)
  • Real-Life Applications (Recommended)
    • Textbook 1
      • Example 2.1: The Price of Eggs and the Price of a College Education Revisited
      • Example 2.2: Wage Inequality in the United States
      • Example 2.3: Long-Run Behavior of Natural Resource Prices
      • Example 2.4: Effects of 9/11 on the Supply and Demand for New York City Office Space
      • Example 2.8: Behavior of Copper Prices
      • Example 2.9: Upheaval in the World Oil Market
  • See the list of recent articles in the Lesson 1 module as real-life applications (recommended).
Assignments

Required

  • Lesson 1 Quiz
Lesson 2
Lesson 2 Elasticities, Price Controls, and Consumer Behavior
Readings

2.1

  • Required
    • Lesson 2.1 Commentary
    • Textbook 1
      • Elasticities of Supply and Demand (pp. 33–34)
      • Short-Run Versus Long-Run Elasticities (pp. 36–44)
    • Lesson 2.1 Exercise Questions (nongraded)
  • Real-Life Application (Recommended)
    • Textbook 1
      • Example 2.5: The Market for Wheat (p. 37)

2.2

  • Required
    • Lesson 2.2 Commentary
    • E-Reserve: Total Revenue and the Price Elasticity of Demand, Principles of Microeconomics, Mankiw (2012)
    • Lesson 2.2 Exercise Questions (nongraded)
  • Real-Life Applications (Recommended)
    • Textbook 1
      • Example 4.4: The Demand for Housing
      • Example 4.5: The Long-Run Demand for Gasoline

2.3

  • Required
    • Lesson 2.3 Commentary
    • Textbook 1
      • Other Elasticities (pp. 34–35)
  • Real-Life Application (Recommended)
    • Textbook 1
      • Example 2.6: The Demand for Gasoline and Automobiles

2.4

  • Required
    • Lesson 2.4 Commentary
    • Textbook 1
      • Supply Elasticity (p. 36)
    • Lesson 2.4 Exercise Questions (nongraded)
  • Real-Life Application (Recommended)
    • Textbook 1
      • Example 2.7: Weather in Brazil and the Price of Coffee in New York

2.5

  • Required
    • Lesson 2.5 Commentary
    • Textbook 1
      • Price Controls (pp. 58–59)
    • Lesson 2.5 Exercise Questions (nongraded)
  • Real-Life Applications (Recommended)
    • Textbook 1
      • Example 2.10: Price Controls and Natural Gas Shortages

  • See the list of recent articles in the Lesson 2 module as real-life applications (recommended).

Assignments

Required

  • Lesson 2 Quiz
  • Discussion 1: Complete the initial post.

Recommended

  • Lessons 1 and 2 Live Zoom Meeting With Instructor: Wednesday @ 8 p.m. (ET)
Lesson 3
Lesson 3 Production Economics
Readings

3.1

  • Required
    • Lesson 3.1 Commentary
    • Textbook 1
      • Section 6.1: Firms and Their Production Decisions
    • Lesson 3.1 Exercise Questions (nongraded)
  • Real-Life Applications (Recommended)
    • Textbook 1
      • Example Box 6.1: Debate on Production Function for Health Care

3.2

  • Required
    • Lesson 3.2 Commentary
    • Textbook 1
      • Section 6.2: Production With One Variable Input (pp. 192–197)
    • Lesson 3.2 Exercise Questions (nongraded)
  • Real-Life Applications (Recommended)
    • Textbook 1
      • Example Box 6.4: A Production Function for Wheat (p. 208)

3.3

  • Required
    • Lesson 3.3 Commentary
    • Textbook 1
      • Section 6.3: Production With Two Variable Inputs (pp. 202–207)
    • Lesson 3.3 Exercise Questions (nongraded)

3.4

  • Required
    • Lesson 3.4 Commentary
    • Textbook 1
      • Section 6.4: Returns to Scale (pp. 209–211)
    • Lesson 3.4 Exercise Questions (nongraded)
  • Real-Life Application (Recommended)
    • Textbook 1
      • Example 6.5: Returns to Scale in the Carpet Industry (p. 211)
  • See the list of recent articles in the Lesson 3 module as real-life applications (recommended).
Assignments

Required

  • Lesson 3 Quiz
  • Discussion 1: Complete peer comments.
Lesson 4
Lesson 4 Cost Analysis
Readings

4.1

  • Required
    • Lesson 4.1 Commentary
    • Textbook 1
      • Section 7.1: Measuring Cost: Which Cost Matters? (pp. 215–218)
    • Lesson 4.1 Exercise Questions (nongraded)
  • Real-Life Application (Recommended)
    • Textbook 1
      • Example 7.1: Choosing the Location for a New Law School Building (p. 218)

4.2

  • Required
    • Lesson 4.2 Commentary
    • Textbook 1
      • Section 7.1: Measuring Cost: Which Cost Matters? (pp. 219–223)
      • Section 7.2: Costs in the Short Run (pp. 223–228)
    • Lesson 4.2 Exercise Questions (nongraded)
  • Real-Life Applications (Recommended)
    • Textbook 1
      • Example 7.2: Sunk, Fixed, and Variable Costs: Computers, Software, and Pizzas (pp. 221–222)
      • Example 7.3: The Short-Run Cost of Aluminum Smelting (pp. 226–228)

4.3

  • Required
    • Lesson 4.3 Commentary
    • Textbook 1
      • Section 7.4: Long-Run Versus Short-Run Cost Curves (pp. 239–245)
  • Real-Life Applications (Recommended)
    • Textbook 1
      • Example 7.6: Tesla's Battery Costs (p. 243)

4.4

  • Required
    • Lesson 4.4 Commentary
    • Textbook 1
      • Section 7.3: Costs in the Long Run (pp. 229–231)
    • Lesson 4.4 Exercise Questions (nongraded)

4.5

  • Required
    • Lesson 4.5 Commentary
    • Textbook 1
      • Section 7.3: Costs in the Long Run (pp. 229–239)
      • Section 7.5: Production With Two Outputs—Economies of Scope (pp. 245–247)
      • Section 7.6: Dynamic Changes in Costs—The Learning Curve (pp. 248–251)
    • Lesson 4.5 Exercise Questions (nongraded)
  • Real-Life Applications (Recommended)
    • Textbook 1
      • Example 7.4: Effect of Effluent Fees on Input Choices (p. 233)
      • Example 7.5: Reducing the Use of Energy (p. 237)

  • See the list of recent articles in the Lesson 4 module as real-life applications (recommended).

Group Project

  • Amazon.com, 2021, Wells, Danskin, and Ellsworth, HBR Case Course Pack
Assignments

Required

  • Lesson 4 Quiz
  • Group Project (See instructions in Group Project Module.)

Recommended

  • Lessons 3 and 4 Live Zoom Meeting With Instructor: Wednesday @ 8 p.m. (ET)
Lesson 5
Lesson 5 Profit Maximization in Competitive Markets
Readings

5.1

  • Required
    • Lesson 5.1 Commentary

5.2

  • Required
    • Lesson 5.2 Commentary
    • Textbook 1
      • Section 8.1: Perfectly Competitive Markets (pp. 267–269)
    • Lesson 5.2 Exercise Questions (nongraded)

5.3

  • Required
    • Lesson 5.3 Commentary
    • Textbook 1
      • Example 8.1: Condominiums Versus Cooperatives in New York City (pp. 271–272)
    • Lesson 5.3 Exercise Questions (nongraded)

5.4

  • Required
    • Lesson 5.4 Commentary
    • Textbook 1
      • Section 8.5: The Competitive Firm’s Short-Run Supply Curve (pp. 280–283)
      • Section 8.6: The Short-Run Market Supply Curve (pp. 283–288)
    • Lesson 5.4 Exercise Questions (nongraded)
  • Real-Life Applications (Recommended)
    • Textbook 1
      • Example 8.2: Short-Run Output Decision of an Aluminum Smelting Plant (p. 278)
      • Example 8.4: Short-Run Production of Petroleum Products (p. 282)
      • Example 8.5: Short-Run World Supply of Copper (p. 285)

5.5

  • Required
    • Lesson 5.5 Commentary
    • Textbook 1
      • Section 8.4: Choosing Output in the Short Run (pp. 275–278)
    • Lesson 5.5 Exercise Questions (nongraded)
  • Real-Life Application (Recommended)
    • Textbook 1
      • Example 8.3: Some Cost Considerations for Managers (p. 279)

5.6

  • Required
    • Lesson 5.6 Commentary
    • Textbook 1
      • Section 8.7: Choosing Output in the Long-Run (pp. 288–294)
    • Lesson 5.6 Exercise Questions (nongraded)

5.7

  • Required
    • Lesson 5.7 Commentary
    • Textbook 1
      • Section 8.8: The Industry’s Long-Run Supply Curve (pp. 294–300)
    • Lesson 5.7 Exercise Questions (nongraded)
  • Real-Life Applications (Recommended)
    • Textbook 1
      • Exercise 8.6: Constant-, Increasing-, and Decreasing–Cost Industries: Coffee, Oil, and Automobiles (p. 298)
      • Exercise 8.7: Supply of Taxicabs in New York
      • Exercise 8.8: Long-Run Supply of Housing
  • See the list of recent articles in the Lesson 5 module as real-life applications (recommended).
Assignments

Required

  • Lesson 5 Quiz
  • Discussion 2: Complete the initial post.
Lesson 6
Lesson 6 Effects of Tax and Trade Policies of Governments
Readings

6.1

  • Required
    • Lesson 6.1 Commentary
    • Textbook 1
      • Section 4.4: Consumer Surplus (pp. 130–132)
      • Producer Surplus in the Short Run (pp. 286–288)
      • Producer Surplus Versus Profit (pp. 293–294)
      • Section 9.1: Evaluating the Gains and Losses From Government Policies–Consumer and Producer Surplus
      • Section 9.4: Price Supports and Production Quotas (pp. 320–323)
    • Lesson 6.1 Exercise Questions (nongraded)
  • Real-Life Applications (Recommended)
    • Textbook 1
      • Example 4.6: Value of Clean Air (p. 132)
      • Example 9.3: Airline Regulation (p. 318)
      • Example 9.4: Supporting the Price of Wheat (p. 324)
      • Example 9.5: Why Can’t I Find a Taxi? (p. 326)

6.2

  • Required
    • Lesson 6.2 Commentary

6.3

  • Required
    • Lesson 6.3 Commentary
    • Textbook 1
      • Section 9.6: The Impact of a Tax or Subsidy (pp. 333–337)
    • Lesson 6.3 Exercise Questions (nongraded)
  • Real-Life Application (Recommended)
    • Textbook 1
      • Example 9.7: A Tax on Gasoline (p. 338)

6.4

  • Required
    • Lesson 6.4 Commentary
    • Textbook 1
      • Section 9.5: Import Quotas and Tariffs (pp. 329–331)
    • Lesson 6.4 Exercise Questions (nongraded)
  • Real-Life Application (Recommended)
    • Textbook 1
      • Example 9.6: The Sugar Quota (p. 331)
  • See the list of recent articles in the Lesson 6 module as real-life applications (recommended).
Assignments

Required

  • Discussion 2: Complete peer comments.
  • Lesson 6 Quiz

Recommended

  • Lessons 5 and 6 Live Zoom Meeting With Instructor: Wednesday @ 8 p.m. (ET)
Lesson 7
Lesson 7 Firm Profit Maximization in Monopoly Markets
Readings

7.1

  • Required
    • Lesson 7.1 Commentary
    • Textbook 1
      • Section 10.3: Sources of Monopoly Power (pp. 365–367)
    • Lesson 7.1 Exercise Questions (nongraded)

7.2

  • Required
    • Lesson 7.2 Commentary
    • Textbook 1
      • Section 10.1: Monopoly (pp. 348–358)
      • Section 10.2: Monopoly Power (pp. 358–362)
    • Lesson 7.2 Exercise Questions (nongraded)

  • Real-Life Applications (Recommended)

    • Example 10.1: Astra-Merck Prices Prilosec (p. 354)
    • Example 10.2: Elasticities of Demand for Soft Drinks (p. 360)
    • Example 10.3: Markup Pricing: Supermarkets to Designer Jeans (p. 362)
    • Example 10.4: The Pricing of Videos (p. 364)

7.3

  • Required
    • Lesson 7.3 Commentary
    • Textbook 1
      • Section 10.4: The Social Costs of Monopoly Power (pp. 367–372)
    • Lesson 7.3 Exercise Questions (nongraded)

7.4

  • Required
    • Lesson 7.4 Commentary
    • Textbook 1
      • Section 10.7: Limiting Market Power: The Antitrust Laws (pp. 379–383)
    • Lesson 7.4 Exercise Questions (nongraded)

  • Real-Life Applications (Recommended)

    • Textbook 1
      • Example 10.6: A Phone Call About Prices (p. 383)
      • Example 10.7: Go Directly to Jail. Don’t Pass Go (p. 383)
      • Example 10.8: The United States and European Union Versus Microsoft (p. 384)
      • Example 10.9: The Authors Debate Merger Policy (p. 385)
  • See the list of recent articles in the Lesson 7 module as real-life applications (recommended).
Assignments

Required

  • Lesson 7 Quiz
  • Group Project (See instructions in Group Project Module—Submit Peer Evaluation 1 for project progress.)
  • Exam 1: Available from 12:00 a.m. (ET), October 6, to 11:59 p.m. (ET), October 12. If there is any scheduling conflict, please contact the instructor.

Recommended

  • Exam 1 Practice
Lesson 8
Lesson 8 Price Discrimination and Dynamic Pricing for Firms With Market Power
Readings

8.1

  • Required
    • Lesson 8.1 Commentary
    • Textbook 1
      • Section 11.1: Capturing Consumer Surplus (pp. 392–393)
      • Section 11.2: Price Discrimination—First Degree Price Discrimination (pp. 393–396)
    • Lesson 8.1 Exercise Questions (nongraded)

8.2

  • Required
    • Lesson 8.2 Commentary
    • Textbook 1
      • Second-Degree Price Discrimination (p. 396)
      • Third-Degree Price Discrimination (pp. 396–400)
      • Section 11.3: Intertemporal Price Discrimination and Peak-Load Pricing (pp. 402–405)
      • Section 11.4: The Two-Part Tariff (pp. 406–409)
      • Section 11.5: Bundling (pp. 411–421)
    • Lesson 8.2 Exercise Questions (nongraded)

  • Real-Life Applications (Recommended)

    • Textbook 1
      • Example 11.1: The Economics of Coupons and Rebates (p. 400)
      • Example 11.2: Airline Fares (p. 401)
      • Example 11.3: How to Price a Best-Selling Novel (p. 405)
      • Example 11.4: Pricing Cellular Phone Services (p. 409)
      • Example 11.5: Complete Dinner Versus à la Carte: A Restaurant's Pricing Problem (p. 419)

8.3

  • Required
    • Lesson 8.3 Commentary
    • Textbook 1
      • Advertising (pp. 421–424)
      • Example 11.6: Advertising in Practice (p. 424)
    • Lesson 8.3 Exercise Questions (nongraded)
  • See the list of recent articles in the Lesson 8 module as real-life applications (recommended).
Assignments

Required

  • Lesson 8 Quiz
  • Discussion 3: Complete the initial post.

Recommended

  • Lessons 7 and 8 Live Zoom Meeting With Instructor: Wednesday @ 8 p.m. (ET)
Lesson 9
Lesson 9

Profit Maximization in Monopolistic Competition Markets and Oligopoly Markets

Readings

9.1

  • Required
    • Lesson 9.1 Commentary

9.2

  • Required
    • Lesson 9.2 Commentary
    • Textbook 1
      • Section 12.1: Monopolistic Competition (pp. 444–447)
    • Lesson 9.2 Exercise Questions (nongraded)

  • Real-Life Application (Recommended)

    • Textbook 1
      • Example 12.1: Monopolistic Competition in the Markets for Colas and Coffees (p. 447)

9.3

  • Required
    • Lesson 9.3 Commentary
    • Lesson 9.3 Exercise Questions (nongraded)

9.4

  • Required
    • Lesson 9.4 Commentary
    • Textbook 1
      • Section 12.2: Oligopoly (pp. 448–456)
      • Section 12.3: Price Competition (pp. 456–458)
      • Section 12.6: Cartels (pp. 469–472)
    • Lesson 9.4 Exercise Questions (nongraded)

  • Real-Life Applications (Recommended)

    • Textbook 1

      • Example 12.2: A Pricing Problem for Procter & Gamble (p. 459)
      • Example 12.6: The Authors Debate the Cartelization of Intercollegiate Athletics (p. 472)
      • Example 12.7: The Auto Parts Cartel (p. 473)

9.5

  • Required
    • Lesson 9.5 Commentary
    • Lesson 9.5 Exercise Questions (nongraded)
  • See the list of recent articles in the Lesson 8 module as real-life applications (recommended).
Assignments

Required

  • Lesson 9 Quiz
  • Discussion 3: Complete peer comments.
Lesson 10
Lesson 10 Game Theory for Production and Pricing Decisions of Firms
Readings

10.1

  • Required
    • Lesson 10.1 Commentary
    • Textbook 1
      • Section 12.4: Competition Versus Collusion: The Prisoner’s Dilemma (pp. 461–463)
      • Section 12.5: Implications of the Prisoner’s Dilemma for Oligopolistic Pricing (pp. 464–469)
    • Lesson 10.1 Exercise Questions (nongraded)
  • Real-Life Applications (Recommended)
    • Example 12.3: Procter & Gamble in a Prisoner’s Dilemma (p. 463)
    • Example 12.4: Price Leadership and Price Rigidity in Commercial Banking (p. 466)
    • Example 12.5: The Prices of College Textbooks (p. 467)

10.2

  • Required
    • Lesson 10.2 Commentary
    • Textbook 1
      • Section 13.1: Gaming and Strategic Decisions (pp. 479–481)
      • Section 13.2: Dominant Strategies (pp. 482–483)
    • Lesson 10.2 Exercise Questions (nongraded)
  • Real-Life Application (Recommended)
    • Textbook 1
      • Example 13.1: Acquiring a Company (p. 482)

10.3

  • Required
    • Lesson 10.3 Commentary
    • Textbook 1
      • Section 13.3: The Nash Equilibrium Revisited (pp. 484–490)
    • Lesson 10.3 Exercise Questions (nongraded)

10.4

  • Required
    • Lesson 10.4 Commentary
    • Textbook 1
      • Section 13.4: Repeated Games (pp. 490–492)
      • Section 13.5: Sequential Games (pp. 495–497)
      • Section 13.6: Threats, Commitments, and Credibility (pp. 497–501)
      • Section 13.7: Entry Deterrence (pp. 502–506)
    • Lesson 10.4 Exercise Questions (nongraded)
  • Real-Life Applications (Recommended)
    • Textbook 1
      • Example 13.2: Oligopolistic Cooperation in the Water Meter Industry (p. 493)
      • Example 13.3: Competition and Collusion in the Airline Industry (p. 494)
      • Example 13.4: Wal-Mart Stores’ Preemptive Investment Strategy (p. 501)
      • Example 13.5: Industry Transformation: Uber and Lyft (p. 506)
      • Example 13.6: Diaper Wars (p. 507)
  • See the list of recent articles listed in the Lesson 10 module.
Assignments

Required

  • Lesson 10 Quiz
  • Discussion 4: Complete the initial post.

Recommended

  • Lessons 9 and 10 Live Zoom Meeting with Instructor: Wednesday @ 8 p.m. (ET)
Lesson 11
Lesson 11 Investment and Financial Markets
Readings

11.1

  • Required
    • Lesson 11.1 Commentary
    • Textbook 1
      • Section 15.1: Stocks Versus Flows (p. 552)
      • Section 15.2: Present Discounted Value (pp. 553–555)
      • Section 15.4: The Net Present Value Criterion for Capital Investment Decisions (pp. 561–564)
    • Lesson 11.1 Exercise Questions (nongraded)
  • Real-Life Applications (Recommended)
    • Textbook 1
      • Example 15.1: The Value of Lost Earnings (p. 555)
      • Example 15.3: The Value of a New York City Taxi Medallion (p. 565)
      • Example 15.4: Capital Investment in the Disposable Diaper Industry (p. 568)

11.2

  • Required
    • Lesson 11.2 Commentary
    • Textbook 1
      • Section 15.5: Adjustments for Risk (pp. 565–567)

11.3

  • Required
    • Lesson 11.3 Commentary
    • Textbook 1
      • Capital Asset Pricing Model (pp. 567–568)
      • Section 15.9: How Are Interest Rates Determined? (pp. 580–582)
    • Lesson 11.3 Exercise Questions (nongraded)
  • Real-Life Applications (recommended)
    • Textbook 1
      • Example 15.2: The Yields on Corporate Bonds (p. 559)
  • See the list of recent articles in the Lesson 11 module as real-life applications (recommended).
Assignments

Required

  • Lesson 11 Quiz
  • Discussion 4: Complete peer comments.
Lesson 12
Lesson 12 The Macroeconomy, Economic Growth, and Business Cycles
Readings

12.1

  • Required
    • Lesson 12.1 Commentary

12.2

  • Required
    • Lesson 12.2 Commentary
    • Textbook 2
      • Section 10.1: Economy’s Income and Expenditure
      • Section 10.2: Measurement of GDP
      • Section 10.3: Components of GDP
      • Section 10.4: Real Versus Nominal GDP
    • Lesson 12.2 Exercise Questions (nongraded)

12.3

  • Required
    • Lesson 12.3 Commentary
    • Textbook 2
      • Section 12.1: Economic Growth Around the World
      • Section 12.2: Productivity: Its Role and Determinants
      • Section 12.3: Economic Growth and Public Policy
    • Lesson 12.3 Exercise Questions (nongraded)

12.4

  • Required
    • Lesson 12.4 Commentary
    • Textbook 2
      • Section 20.1: Three Key Facts About Economic Fluctuations
      • Section 20.3b: Why the Aggregate Demand Curve May Shift?
      • Section 20.4b: Why the Long-Run Aggregate Supply Curve May Shift?
    • Lesson 12.4 Exercise Questions (nongraded)
  • See the list of recent articles in the Lesson 12 module as real-life applications (recommended).
Assignments

Required

  • Lesson 12 Quiz
  • Exam 2: Available from 12:00 a.m. (ET), November 10, to 11:59 p.m. (ET), November 16. If there is any scheduling conflict, please contact the instructor.

Recommended

  • Lesson 11 and 12 Live Zoom Meeting With Instructor: Wednesday @ 8 p.m. (ET)
  • Exam 2 Practice
Lesson 13
Lesson 13 Macroeconomics: Inflation, Unemployment, and Interest Rates
Readings

13.1

  • Required
    • Lesson 13.1 Commentary
    • Textbook 2
      • Introduction Section of Chapter 17 (p. 338)
      • Section 17.1: The Classical Theory of Inflation (pp. 339–349)
      • Section 11.1: The Consumer Price Index (pp. 210–216)
      • Sections 11.2a: Dollar Figures From Different Times (pp. 217–219)
      • Section 11.2c: Real and Nominal Interest Rates (pp. 220–222)
      • Section 17.2: The Costs of Inflation (pp. 350–358)
    • Lesson 13.1 Exercise Questions

13.2

  • Required
    • Lesson 13.2 Commentary
    • Textbook 2
      • Section 15.1: Identifying Unemployment (pp. 290–297)
      • Section 15.2: Job Search (pp. 298–299)
      • Section 15.3: Minimum-Wage Laws (pp. 300–302)
    • Lesson 13.2 Exercise Questions

13.3

  • Required
    • Lesson 13.3 Commentary
    • Textbook 2
      • Section 13.1: Financial Institutions in the U.S. Economy (pp. 252–256)
      • Section 13.3: The Market for Loanable Funds (pp. 259–270)
    • Lesson 13.3 Exercise Questions
  • See the list of recent articles in the Lesson 13 module as real-life applications (recommended).
Assignments

Required

  • Lesson 13 Quiz
  • Group Project: Multiple deadlines—see instructions in the Group Project module.
    • Submit Final Report.
    • Complete Peer Evaluation 2 for Final Report.
Lesson 14
Lesson 14 Macroeconomics: Money, Monetary Policy, and Fiscal Policy
Readings

14.1

  • Required
    • Lesson 14.1 Commentary
    • Textbook 2
      • Section 16.1: The Meaning of Money (pp. 314–318)
      • Section 16.3: Banks and the Money Supply (pp. 320–325)
      • Section 16.4: The Fed’s Tools of Monetary Control (pp. 326–333)
    • Lesson 14.1 Exercise Questions (nongraded)

14.2

  • Required
    • Lesson 14.2 Commentary
    • Textbook 2
      • Section 21.1: How Monetary Policy Influences Aggregate Demand (pp. 446–455)
      • Section 21.2: How Fiscal Policy Influences Aggregate Demand (pp. 455–461)
      • Section 21.3: Using Policy to Stabilize the Economy (pp. 462–466)
    • Lesson 14.2 Exercise Questions (nongraded)
  • See the list of recent articles in the Lesson 14 module as real-life applications (recommended).
Assignments

Required

  • Lesson 14 Quiz

Recommended

  • Lessons 13 and 14 Live Zoom Meeting with Instructor: Wednesday @ 8 p.m. (ET)
Lesson 15
Lesson 15 International Trade, International Finance, and Foreign Exchange
Readings

15.1

  • Required
    • Lesson 15.1 Commentary
    • Textbook 2
      • Section 18.1: The International Flows of Goods and Capital (pp. 364–373)
      • Section 18.2: The Prices of International Transactions: Real and Nominal Exchange Rates (pp. 374–377)
      • Section 18.3: A First Theory of Exchange-Rate Determination: Purchasing-Power Parity (pp. 377–382)
    • Lesson 15.1 Exercise Questions
  • See the list of recent articles in the Lesson 15 module as real-life applications (recommended).
Assignments

Required

  • Lesson 15 Quiz
Lesson 15
Final Exam  
Readings
  • None
Assignments

Required

  • Final Exam: Available from 12:00 a.m. (ET), Saturday, to 11:59 p.m. (ET), Tuesday. If there is any scheduling conflict, please contact the instructor.

Recommended

  • Final Exam Practice

Note: All due dates reflect North American eastern time (ET).

Formal instruction will end on the last day of class. Provided that you have an active Penn State Access Account user ID and password, you will continue to be able to access the course materials for one year, starting from the end date of the academic semester in which the course was offered (with the exception of library reserves and other external resources that may have a shorter archival period). After one year, you might be able to access the course based on the policies of the program or department offering the course material, up to a maximum of three years from the end date of the academic semester in which the course was offered. For more information, please review the University Course Archival Policy.


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