Mississippi College

Larry Greer


Bulletin: Test on Chapters 5, 23, 24, 25 and 26 on Monday night, November 29 - we will also cover Chapter 29 on Monday night.

1.  Effective Sunday, Oct. 31, an Outline of Chapter 4, Private and Public Sectors of the US Economy is now available for review.

2.  Friday, November 12, is the last day to drop an ADP class academically.

3.  Power Point Charts for Chapter 1 are available effective 10/21/10.

4.  Power Point Charts for Chapter 2 are available effective 10/22/10.

5.  Chapter 2 Outline is now available effective 10/22/10.

6.  Please work the following problem and submit your answers to me by Thursday noon, October 28.  Problem number 8, page 43. The problem is stated as:  With current technology, suppose a firm is producint 400 loaves of banana bread daily. Also assume that the least-cost combination of resources in producing those loaves is 5 units of labor, 7 units of land, 2 units of capital, and 1 unitof entreneurial ability, selling at prices of $40, $60, $60, and $20, respectively. If the firm can sell these 400 loaves at $2 per unit, will it continue to produce banana bread? If this firm's situation is typical of the other makes of banana bread, will resources flow to or away from this bakery good?  In working this problem, refer to table 2.1 on Page 36. Also, remember that the teaching point is using the factors of production (land, labor, capital and entrepreneurial ability) in the least-cost manner to maximize profits.

7.  Please access the link in the right margin of my webpage under the heading "links".  You are to read the article entitled, "U.S. Economy: Confidence Increases More Than Forecast".  After reading the article, please list in sentence form the five most serious concerns expressed in the article regarding the current state of the US economy.  Please transmit your input to me by Monday noon, November 1.

8.  Please note that Power Point Charts are now available for review for Chapters 3 and 4 effective Wednesday, October 27.

9.  Please see the Supply and Demand outline for Chapter 3.

10.  Please work problem number 8, page 64 at the end of Chapter 3 in your textbook. Please work all parts and email your answers to me by 12 noon on Monday, Nov. 1. You may also fax answers to me at:  Larry Greer, fax # 601-961-5804.

11.  New effective November 7, Power Point Charts for Chapters 5, 23, 24, 25 and 26 are now available.

12.  Please review both the Comparative Advantage and Currency Exchange Rates Documents before class on Monday, November 8.

13.  See the Extra Credit Problems for completion by Thursday, December 2.

14.  Note the Foreign Exchange Market Summary for review in Chapter 5.

15.  See Real GDP Calculation Worksheet

16.  See National Income Accounting Definitions

17.  New effective November 24, Power Point Charts on Chapters 29, 30, 32 and 33 are now available.

Class Schedule

Fall 2010

  • ECO 231 - Economic Principles I
    Monday, Thursday, 7:50 p.m. - 10:00 p.m., Flowood Center Room 105



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