Isaac DiIannióGeorge Mason University Department of Economics
Northeastern State University
Department of Accounting and Finance

Isaac DiIanni
Business and Technology Building, Room 115
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Course Resources

Principles of Microeconomics
The lectures and readings in this course are designed to familiarize students with the fundamentals of microeconomic theory. The central focus of the course is on understanding the process of price formation in a free exchange economy. Market institutions such as the firm, advertising, profit/loss mechanism, speculation, and property rights are explored for their role in the coordination of economic activity.

The book Principles of Economics by Carl Menger can be found here.

In addition to the resources below, another fine online resource is Robert J. Stonebraker's book The Joy of Economics: Making Sense out of Life.  Whether you're having trouble understanding the material and need another perspective, or you just want a fun and entertaining approach to microeconomics, I recommend Dr. Stonebraker's book.

(JM)     Principles of Microeconomics by James D. Miller
(TD)     How Capitalism Saved America by Thomas J. DiLorenzo

Lesson 1: Introduction

Leonard E. Read, I, Pencil (class handout)
(JM) Chapter 1
(TD) Introduction

Additional Optional Reading:
Robert Hessen, Capitalism
Robert Heilbroner, Socialism

Lesson 2: Early Economic Thought

(TD) Chapter 1

Lesson 3: Supply and Demand

(JM) Chapter 2
(TD) Chapter 3

Additional Optional Reading:
Carl Menger, Principles of Economics, Chapters 1-5

Lesson 4: Comparative Statics

(JM) Chapters 3, 4, and 6 (pp. 144-148)
(TD) Chapter 4

Lesson 5: Price Controls

Video:  Price Gouging is Bad.  Myth or Fact?
(JM) Chapter 5 and 6 (pp. 149-151)
(TD) Chapter 11

Additional Optional Reading:
Thomas Rustici, A Public Choice View of the Minimum Wage (PDF)
Hugh Rockoff, Price Controls
Walter Block, Rent Control
Donald Deere, Kevin M. Murphy, and Finis Welch, Sense and Nonsense on the Minimum Wage
Joint Economic Committee, 50 Years of Research on the Minimum Wage
Bureau of Labor Statistics, Characteristics of Minimum Wage Workers
Bureau of Labor Statistics, Table A-2 (class handout)
Bureau of Labor Statistics, CPS AA, Table 44 (PDF)
Bureau of Labor Statistics, CPS AA, Table 45 (PDF)
Leonard, Thomas C., Retrospectives: Eugenics and Economics in the Progressive Era (PDF)

Lesson 6: Trade

Video: 20/20 Aren't Sweatshops Exploitative?
(JM) Chapter 7
(TD) Chapter 5

Additional Optional Reading:
Frederic Bastiat, A Petition
Russell Roberts, Treasure Island: The Power of Trade (Part I, Part II)
David Ricardo, On Foreign Trade

Lesson 7: The Business Firm

(JM) Chapter 11 (pp. 278-283)
(TD) Chapter 7

Lesson 8: Costs

(JM) Chapter 8 

Lesson 9: Income

(JM) Chapter 6
(TD) Chapter 6

Additional Optional Reading:
S. David Young, Occupational Licensing
Morgan O. Reynolds, Labor Unions
W. Michael Cox and Richard Alm, By Our Own Bootstraps (PDF)
W. Michael Cox and Richard Alm, You Are What You Spend
Re-Thinking Inequality Trends (class handout)

Lesson 10: Competition

(JM) Chapters 9 and 10
(TD) Chapter 8

Additional Optional Reading:
Fred S. McChesney, Antitrust

Lesson 11: Transaction Costs

(JM) Chapter 13

Additional Optional Reading:
George Bittlingmayer, Advertising
Daniel B. Klein and Alexander Tabarrok, Theory, Evidence, and Examples of FDA Harm
Class Handouts from The Economist magazine
Richard L. Stroup, Environmentalism, Free Market
Biography of Ronald H. Coase
Armen A. Alchian, Property Rights

Lesson 12: Public Choice

(JM) Chapter 12
(TD) Conclusion

Additional Optional Reading:
Jane S. Shaw, Public Choice Theory
Tyler Cowen, Public Goods and Externalities
The Declaration of Independence
The Constitution of the United States of America
Federalist No. 10
Federalist No. 51
Golden Fleece Awards
Frederic Bastiat, What Is Seen and What Is Not Seen

 

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