### Mock Midterms for Economic Courses

In the fall semester, the Laurier Economics Club offers students taking EC120 and EC270 a chance to practice their knowledge and understanding of the material in a mock midterm before going into the real thing. Our tutors then take up the mock midterms and explain questions. For the winter semester, we offer mock midterms for EC140 and EC290.

We post all our past mock midterm questions and answers right here on our website. We don’t have mock midterms for EC270/290 in Fall 2014 because we only recently started offering our services in those courses. Spaces fill up fast and we cannot reserve seats, even for premium members. All our mock midterms operate on a first-come-first-serve basis.

Access to the mock midterms are as follows:

- LEC Premium members have
**free**admission to our mock midterms. - General members and non-members must pay
**$5**to participate.

### EC120

#### Introduction to Microeconomics

The required textbook for this course is *Principles of Microeconomics* by Mankiw, N. Gregory 6th Edition, 2014.

Students are expected to understand economic jargon such as normative/positive, opportunity cost, perfectly competitive market vs oligopoly vs monopoly, etc. They must be able to find the effects of price and demand in a market through mathematical and graphical means, as well as social welfare, elasticity of different types of goods, and predict a firm’s production in short, medium and long run.

### EC140

#### Introduction to Macroeconomics

The required textbook for this course is *Macroeconomics* by Ragan, Christopher T.S., 14th Canadian Edition, 2014.

The learning outcomes of this course requires students to understand how to define and calculate macroeconomic variables such as GDP and the components of GDP. Students must be able to explain how changes in policy affects money in the economy, how it affects prices, growth, income, and debt in short-run and long-run scenarios.

### EC270

#### Microeconomic Theory I

The required textbook for this course is *Microeconomic Theory: Basic Principles and Extensions* by Nicholson, Water and Christopher Snyder 11th Edition, 2011.

This course requires much more calculation and strong understanding of theory than simply reciting definitions and explanations. Students must be able to graph and solve for preferences, utility maximization, and differentiate between income and substitution effects. Students are required to find the demand relationships between different types of goods and find the profit maximization in a firm’s production using their cost functions.

### EC290

#### Intermediate Macroeconomics I: Static Analysis

The required textbook for this course is *Macroeconomics* by Olivier Blanchard and David Johnson, 5th Canadian Edition, 2014.

This course is an introduction to macroeconomic models. Students must be able to understand and predict the movement and effects of Investment-Savings (IS) and Liquidity Preference-Money Supply (LM) curves on the Aggregate Supply (AS) and Aggregate Demand (AD) model. Students are required find output, interest rate, exchange rate, unemployment, and inflation using graphical and/or mathematical means.