Midterm exam 1 covers material from the beginning of the course:
The exam tests your conceptual, mathematical and graphical understanding of the material covered in this portion of the course.
Please review the content from the units covered before attempting the exam. The summary notes below are concise outlines of the main points covered in each session, but are presented only as a study aid in reviewing for the exam. They do not provide the in-depth knowledge needed to successfully complete the exam problems.
Once you are comfortable with the course content, complete the following practice exams. These exams are from Professor William Wheaton’s course, 14.01 Principles of Microeconomics from Fall 2007, and are used with permission.
Exam Problems and Solutions
The exam should be completed in 2 hours. This is a closed book exam. You are not allowed to use notes, equation sheets, books or any other aids.