ECON 111 - Principles of Microeconomics (Fall 2016)


Lecture slides: 1H, 1T, 2H, 2T, 3H, 3T, 4H, 4T, 5H, 5T, 6H, 6T, 7H, 7T, 8H, 8T, 9H, 9T, 10H, 10T, 11H, 11T, 12H, 12T, 13H, 13T, 14H, 14T, 15H, 15T, 16H, 16T, 17H, 17T, 18H, 18T, 19H, 19T, 20H, 20T, 21H, 21T, 22H, 22T, 23H, 23T, 24H, 24T, 25H, 25T, 26H, 26T

Exclusions: In 18, we did not cover Edgeworth boxes. In 25, we covered only Adverse Selection.

Problem sets: 1 (Solutions), 2 (Solutions), 3 (Solutions), 4 (Solutions), 5 (Solutions)

Exams: Midterm 1 (Solutions, Results), Midterm 2 (Solutions, Results), Final (Solutions, Results)

Homework readings (other than textbook) and in-class videos:

Feedback form

Group request form

Student resources:

    • Prefect: David McKinley (
    • Economics Department Student Advisors: Serena Bernthal-Jones (, Caroline Greenberg (, Freddie Stensaeth (


Course evaluation (please fill me out!)

Exam details:

    • The exam is mandatory self-scheduled, meaning that you can take it in the Concert Hall during any of the ten exam slots. You don't actually schedule it, per se, you just show up. The exam will be waiting for you in an envelope with your name on it.
      • DON'T come to our regular classroom during our scheduled exam slot -- it is mandatory self-scheduled, meaning you must take it in the Concert Hall.
        • If you really want to take it in our scheduled exam slot (7-9:30pm on Saturday), then you still can, but you take it in the concert hall (if you want to do an exam at those hours on a Saturday night, you're crazy, but whatever -- your call).
      • Because you will be taking the exam at different times, academic integrity requires you to not discuss the exam with any other student until all students have taken it. If another students asks you as much as "Was it hard?" and you answer, that's technically a punishable violation. So please don't discuss the exam with other students until Tuesday.
      • For more details on self scheduled exams, see here.
    • The exam is cumulative, i.e. it covers all of the material that we've covered this term. It will have a slight focus on the material that we've covered since the second midterm, so perhaps about 50% of it will be on things that we've done since the second midterm.
      • I may choose to repeat some questions from the midterms or the problem sets, so you should review those carefully (see solutions below).
    • The exam is two and a half hours. That's over double the length of our midterms. I tried to write a final that is about 1.5 times as long as the midterms, so you should find that you have more time per question.
      • There are 18 questions in the exam, worth a total of 90 points. The first nine are multiple choice (worth a total of 27 points). The remaining nine are exercise / short answer questions (worth a total of 63 points).
    • No calculators. Don't bring one, because they will not allow you to take it to your desk. All of the math on the exam is simple. If you ever end up with a fraction that you're too lazy to simplify, just leave it: if you write 1800/9 instead of 200, that's fine (you won't lose any points). No notes or cheatsheets -- you will only be allowed to bring pens and pencils into the room.
    • There are multiple choice questions and exercises in the exam. You are only required to explain answers when I explicitly ask you to explain your answer.
    • If you think a question is unclear and unanswerable without further information, assume something that you believe makes it answerable. State your assumption clearly. Obviously, I'm going to do my best to make everything as clear as possible to avoid you having to do this.
    • Solutions to the exam will be posted on Tuesday. I will put your raw exam grades on Moodle at some point next week, and add a file to the course website (like I did for the midterms) to help you contextualize your performance. If you want your graded exam back, drop by my office at some point the week following the exam (email to make sure I'm around). You can also pick it up next term.
    • I'll probably enter in your final grades to the system during the week after your exam, but you won't actually see them until the registrar posts them, which I think will happen on Wednesday, November 30th (or perhaps a little later).

Additional office hours:

    • I'm holding additional office hours on Thursday from 12pm-2:45pm and Friday from 8:00am - 10:30am. I will not be available during my usual Friday office hours (in the afternoon).

David's review session

    • 6:30pm - 8:30pm on Friday in Willis 114.

Short message

    • It really has been a privilege for me to get to teach and work with you all as a group this term. You might think I'm just saying that, but I really do mean it. I've taught at other institutions and enjoyed those experiences, but Carleton students are intelligent, and, more importantly, abnormally intellectually curious, and that makes the teaching experience here truly rewarding. Please do stay in touch in the future whether or not you choose to continue in the economics department. And, obviously, if I can ever help with advice on anything or a recommendation, let me know.