Billy Foster, PhD

Billy Foster

Clinical Assistant Professor of Economics at

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Quotations

The state — or, to make matters more concrete, the government — consists of a gang of men exactly like you and me. They have, taking one with another, no special talent for the business of government; they have only a talent for getting and holding office. Their principal device to that end is to search out groups who pant and pine for something they can’t get, and to promise to give it to them. Nine times out of ten that promise is worth nothing. The tenth time it is made good by looting ‘A’ to satisfy ‘B’. In other words, government is a broker in pillage, and every election is a sort of advanced auction on stolen goods. — Henry Louis Mencken, Prejudices, First Series (1919)

Posts Tagged ‘intermediate microeconomics’

It takes an entire civilization to build a toaster. Designer Thomas Thwaites found out the hard way, by attempting to build one from scratch: mining ore for steel, deriving plastic from oil … it’s frankly amazing he got as far as he got. A parable of our interconnected society, for designers and consumers alike.

Intermediate Microeconomics
Course number:
UIC – ECON 218

FULL SYLLABUS (.pdf)

“Ask a physicist how long it would take a bowling ball to land if you dropped it from the roof of your house. He will happily assume that your house is located in a vacuum, and then proceed to calculate the right answer. Ask an engineer to predict the path of a billiard ball after it is struck at a certain angle. He will assume that there is no such thing as friction, and the accuracy of his prediction will give him no cause for regret. Ask an economist to predict the effects of a rise in the gasoline tax. He will assume that all people are rational and give you a pretty accurate response.”

- Steven E. Landsburg The Armchair Economist p. 10

INTRODUCTION

The price system, efficient resource allocation by consumers, firms, and government; perfect and imperfect competition; government regulation; ethics and the marketplace; business applications. Prerequisites: Econ 130 or both Econ 120 and 121; and either Math 160 or 165 or 180.

REQUIRED TEXT

Microeconomics: Theory and Applications
Browning and Zupan Tenth Edition
ISBN: 978-0-470-12891-6

Study guide: ISBN: 978-0-470-42949-5

 

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