Michigan ECON 101: Principles of Economics I
ECON 101 is Michigan's introductory microeconomics course: supply and demand, consumer and producer theory, market structures, and welfare analysis. It's required for the economics major, the Ross pre-admit path, and counts toward several distribution requirements, so the lectures are enormous.
Fennie is independent and not affiliated with University of Michigan. This is an unofficial study guide.
What makes it hard
Exams are multiple-choice and curved, and the questions are trickier than the homework. They test whether you can manipulate the models, not just describe them. Ross hopefuls pack the course, which keeps the curve competitive. Graph fluency (shifting curves, reading surplus areas) is the make-or-break skill.
What you'll cover
- • Supply, demand, and equilibrium
- • Elasticity
- • Consumer and producer surplus
- • Taxes, price controls, and welfare
- • Perfect competition and monopoly
- • Market failures and externalities
The ECON 101 study guide
How to study for Michigan ECON 101, step by step.
- 1
Make graph manipulation a daily reflex
Nearly every ECON 101 exam question reduces to shifting a curve correctly and reading off the consequences. Sketch supply-demand scenarios daily until the mechanics are automatic.
- 2
Do every problem set, then find more
The curved exams are trickier than the homework, so the problem sets are a floor, not a ceiling. Add textbook and section problems on each model as it's covered.
- 3
Drill the movement-versus-shift distinction
The classic ECON 101 trap is confusing movement along a curve with a shift of the curve. Test yourself on that distinction in every market scenario. Exam writers disguise it endlessly.
- 4
Practice timed multiple-choice before each midterm
With Ross hopefuls packing the curve, your error rate under time pressure is what separates grades. Simulate full exam blocks rather than reviewing casually.
Today
Today's ECON 101 plan
What a Fennie Daily Plan looks like for ECON 101. Yours is built from your own syllabus and adapts every day to your deadlines and progress.
First plan free, no card required. Fennie is independent and unaffiliated with your school.
FAQ
Is ECON 101 hard at Michigan?
The concepts are introductory, but the curved multiple-choice exams are competitive, partly because Ross pre-admits need strong grades. The exams test model manipulation, not definitions, so practice problems matter far more than rereading the textbook.
Do I need ECON 101 for Ross?
Economics coursework is part of the typical Ross preferred-admit and cross-campus transfer academic profile, and ECON 101 is the standard way to satisfy it. Check the current Ross requirements, since specifics change, but a strong grade here helps any business-track application.
How do I get an A in ECON 101?
Master the graphs. Nearly every exam question reduces to shifting a curve correctly and reading off the consequences. Do every problem set, then drill additional practice questions under time pressure before each midterm.
More Michigan courses
ECON 102: Principles of Economics II
ECON 102 is Michigan's introductory macroeconomics course: GDP, inflation, unemployment, monetary and fiscal policy, growth, and international basics. It follows ECON 101 for econ majors and Ross hopefuls, in the same large-lecture, curved multiple-choice format.
ECON 401: Intermediate Microeconomic Theory
ECON 401 is the calculus-based intermediate micro course required for the economics major: consumer theory, producer theory, equilibrium, and market failure, built with real optimization math. It's the course where the major's analytical bar gets set, and a common admissions checkpoint for econ-adjacent programs.