ECO101H1F (Syllabus Overview)

Course Overview

  • ECO101 is an introduction to how economists use decision-making in markets to explain patterns and make predictions.
  • Key questions: how consumers and firms allocate scarce resources; what happens when people interact in a market; how individuals and markets react to changes; can resource allocation be improved.
  • Approach rests on simplifying assumptions that make complex reality manageable; these assumptions guide how we compare benefits vs. costs and how we reason toward answers.
  • Real-world application requires understanding of assumptions and economic reasoning, plus practice with examples, problem-solving, and discussion.
  • Goal: develop the habit of opportunity-cost thinking and analytical reasoning to view everyday choices through the lens of economics.

1.1 Learning Objectives

  • Understand general microeconomic principles and how to adapt them to specific questions and contexts.
  • Explain the decisions of individuals and firms, and how their interactions in markets determine allocations.
  • Given a scenario, identify the appropriate ECO101 concept and apply it correctly to answer questions.
  • Communicate reasoning using math, graphs, and clear English.
  • Critically analyze economic arguments by examining the link between assumptions and predictions.
  • Apply course concepts to real-world situations.

1.2 Course Information

  • Meeting times and locations by section:
    • L101 (Workshop): Tuesdays, 11:00 AM–1:00 PM, OI G162; choose one tutorial from ACORN.
    • L201 (Tutorial): Tuesdays, 1:00 PM–3:00 PM, OI G162
    • L301 (Tutorial): Wednesdays, 11:00 AM–1:00 PM, MY 150
    • L501 (Tutorial): Thursdays, 1:00 PM–3:00 PM, OI G162
  • ECO101H1F, Fall 2025, 1 of 7; Prof. Freitas

1.3 Required Materials

  • Required Text: Krugman, Wells, Au, and Parkinson, Microeconomics, Fifth Canadian Edition, 2025.
  • Supplementary Videos: For each topic, videos posted as a supplement to the textbook; watching before workshops is assumed.
  • Quercus: Access for course materials, quizzes, and participation components.

1.4 Communication

  • This is a large course; use the following channels:
    • In person: office hours or before/after workshops/tutorials for quick questions.
    • Piazza: online discussion board for student-to-student interaction; not an online staff helpdesk.
    • Course email: eco101.freitas@utoronto.ca for questions about individual issues; content questions redirected to boards/offices.
    • Use your UofT email; non-UofT emails ignored.
    • If a quick response is possible, staff may respond within 3 business days; otherwise check Quercus or syllabus.

2 Academic Integrity

  • Academic integrity is central; do not cheat or engage in shortcuts.
  • All suspected violations reported to the Department of Economics and SAI; consequences can be severe.
  • All work is individual unless explicitly stated otherwise; sharing or posting graded work is a violation.
  • The use of generative AI tools for graded work (including participation) is prohibited unless stated otherwise; see Quercus for details.
  • Report suspected violations immediately.

3 Midterm Tests and Final Exam

  • All tests are in-person; exact date, time, and location announced on Quercus; format and coverage announced closer to the date.
  • Final exam is cumulative and covers all course content; all students answer the same set of questions.
  • Preparation guidance: attend workshops, complete material, do quizzes/problem sets, use office hours.
  • Midterm regrade requests: via MS Forms on Quercus; opens one week after a test is returned and closes one week later; regrades may raise, lower, or leave the grade unchanged.

4 Participation Grades

  • Two opportunities each week to earn participation grades:
    • Workshops: complete worksheets on paper and hand them in; the first workshop of the week counts if you attend a different one.
    • Participation quizzes: completed on Quercus within a ~one-week window; multiple retakes allowed; only attempts within the window count; no collaboration during the window.
  • Important: no deadline extensions for weekly work; late submissions not accepted.
  • Scoring rules for participation quizzes:
    • If your highest participation score is
      s≥0.50 (50%)⇒rounded to 1.00(100%)s \ge 0.50 \ (50\%) \Rightarrow \text{rounded to } 1.00 (100\%)
    • If 0.25≤s<0.50 (25%≤s<50%)⇒rounded to 0.50(50%)0.25 \le s < 0.50 \ (25\% \le s < 50\%) \Rightarrow \text{rounded to } 0.50 (50\%)
    • If s<0.25 (<25%)⇒no roundings < 0.25 \ (<25\%) \Rightarrow \text{no rounding}
  • Participation weighting: Workshop Participation 4.5% and Weekly Participation 4.5% (on Quercus), with due dates listed on each quiz.

5 Missed Work

  • For injuries, illnesses, or personal/family problems lasting more than 5 days, contact your College Registrar immediately.
  • 5.1 Missed Participation Work (drop policy):
    • Count the highest 9 out of 12 workshop scores and the highest 9 out of 12 weekly participation quizzes when calculating participation scores.
    • The 3 lowest scores are automatically dropped; this also happens automatically at year-end for all students.
    • No email requests for misses; no deadline extensions for weekly work; no accommodations beyond the automatic drops unless advised by the registrar.
  • 5.2 Missed Midterms: make-up policy
    • To request a make-up: (A) submit a MS Forms make-up request on Quercus and (B) provide documentation.
    • Documentation options:
    • A: Complete an Absence Declaration on ACORN; include eco101.freitas@utoronto.ca in the instructor email field; upload a copy with name.
    • B: If Absence Declaration used, a medical doctor must complete a UofT Verification of Illness Form; upload to MS Form; original must be submitted to GE (Max Gluskin) within a week of the test.
    • There is one cumulative makeup test (covers both midterm contents) held in the last week of classes (usually early morning).
    • Makeup score substitutes for only one missed midterm.
    • No makeup test for a missed makeup test.
    • If you miss the makeup or miss two midterms, see your college registrar and bring the syllabus/docs; they will advise on options (including dropping the course).
    • You will receive makeup grades after the drop deadline.
    • Deadlines for CR/NCR or LWDs are available on Arts & Science dates page.
    • Final: For missed final exams, refer to Arts & Science policies on deferred exams.

6 Accommodations

  • Register with Accessibility Services for accessibility accommodations; process takes time.
  • For testing accommodations (e.g., extra time), register with Accommodated Testing Services (ATS).
  • The course will attempt to accommodate religious holy days beyond those already scheduled.
  • Contact the instructor as soon as possible with accommodation needs.

7 Final Grades in ECO 101

  • Numerical grades align with Arts & Science interpretation; historically median has been around the C+ range.
  • With multiple sections and exams, averages may vary; common final component across sections helps normalize.
  • A common final portion may be used to adjust final grades across sections if needed.

8 Policy on Course Materials and Recordings

  • Some elements (including participation) may be recorded; questions about recording use should be directed to the instructor.
  • Course materials and videos are the property of the instructor/University and are protected by copyright.
  • Do not download, copy, or share course or student materials without explicit permission.
  • Do not create your own recordings of course events; unauthorized recordings may lead to disciplinary actions.
  • If accommodations are needed for a disability, contact the instructor first.

9 Need Help?

  • You are not alone—seek help early.
  • 9.1 Concept difficulties:
    • Stop by office hours; check Quercus for latest schedule.
    • Economics Study Center staffed by learned undergraduates; study groups can be formed via workshops/class interactions or Piazza.
    • Join or form Recognized Study Groups at UofT for organized study.
    • Post questions on Piazza and help answer peers' questions.
    • If test grades don’t reflect effort, consider study habits/time management; resources available on Quercus; study plans provided.
    • Reach out to learning strategists in Academic Success Centre or Rotman Commerce office.
  • 9.2 Longer-term issues:
    • Mental health resources; Telus Health Student Support app linked on Quercus; registrar support.
    • For issues lasting more than a few days or affecting multiple courses, your registrar can help; they can advise on course selections, regulations, and resources.
    • An ongoing advisor relationship helps mitigate problems before they escalate.
  • 9.3 (Additional guidance may be available in Quercus)

10 Crowdmark

  • The course uses Crowdmark for online grading, feedback, and regrade requests.
  • Copies of student work marked in Crowdmark will be available online for at least one year.
  • Digital copies are the authoritative record for administrative purposes; paper copies scanned and uploaded will be destroyed after term ends.
  • For questions about data storage, contact the course instructor.

11 List of Topics

  • Week 1: Thinking like an Economist — Chapters 1 and 9.1–9.4
  • Week 2: Gains from Trade — Chapters 2, Appendix 2, and 8.1
  • Week 3: Supply, Demand & Competitive Markets — Chapter 3 and Appendix
  • Week 4: Elasticity — Chapter 6 and Appendix
  • Week 5: Surplus — Chapter 4
  • Week 6: Price Controls and Taxes — Chapters 5 and 7
  • Week 7: Firm Costs — Chapter 11
  • Week 8: Perfect Competition — Chapter 12
  • Week 9: Monopoly — Chapters 13.1–13.5
  • Week 10: Price Discrimination — Chapter 13.6; Game Theory — Chapter 14.3
  • Week 11: Oligopoly — Chapter 14
  • Week 12: Externalities — Chapter 16