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East West University
Department of Economics
Semester: Fall 2016
Course Information
ECO 101: Principle of Microeconomics
Credit: 3
Pre-requisite: None
Instructor Information
Gazi Quamrul Hasan
Room: 329
Contact: [email protected]
Contact No: +8801716136440 (You are encouraged to call if you can’t find me during office hour)
Teaching Assistant
TBA
Class Routine & Office Hours
08:30-10:00
10:10-11:40
11:50-01:20
01:30-03.00
Sunday
ECO301(2)
434
ECO357(1)
220
Office Hour
Office Hour
Monday
MAT211(5)
725
Office Hour
ECO101(3)
531
Tuesday
Office Hour
Wednesday
MAT211(5)
725
Office Hour
ECO101(3)
531
Thursday
ECO301(2)
434
ECO357(1)
219
Office Hour
Office Hour
03.10-04.40
Office Hour
Course Objective
This is the first course in economics required for business, economics and engineering majors. This course does not
require any prior knowledge of economics though basic mathematical skill is needed. This course aims to introduce
initial concepts of economics to a variety of students. At the end of the course, students will be able
1.
2.
3.
To differentiate between market forces: demand and supply
To define and apply the concepts of elasticity, cost and utility.
To analyze different market conditions and behaviours.
Text Books
Basic Texts: 1) Principle of Microeconomics- Parkin, Michael.
2) Economics-Samuelson, P.A. and Nordhaus.
Supplementary Text: Economics for the IB diploma, Ellie Tragakes
(collect from the group)
Course Contents & Tentative Teaching Schedule
Class
Topic
Teaching Material
1
Laws of demand and supply, equilibrium price and quantity
2
As above
4
Effects of shift and movement along the demand curve on equilibrium
price and quantity
Effects of shift and movement along the supply curve on equilibrium
price and quantity
Combining Effects of Demand and supply
5
Mathematics of Market Equilibrium
As above
6
Price elasticity of Demand
As above
7
Cross Price elasticity and income elasticity and demand
As above
8
Burden of Tax and Elasticity
As above
9
Consumer and producer Surplus
As above
10
Midterm 1 exam
11
As above
12
Concept of production function; law of diminishing returns; total,
marginal and average product.
Return to scale.
13
Fixed and Variable Cost, Marginal and average cost.
As above
14
Total, marginal and average Revenues.
As above
15
Theory of Utility and equi-marginal principle.
As above
16
Indifference curves, Budget constraints, consumer equilibrium.
As above
17
Midterm 2 exam
18
Introduction to market structures
As above
19
Perfect Competition
As above
20
Monopoly
As above
21
Introduction to Oligopoly and monopolistic competitions
As above
22
Introduction to Labour market.
As above
23
Rent Theory
As above
24
Final exam
3
Lecture and Textbook
As above
As above
As above
Score Distribution
Course Part
Mark (%)
Assignments and quizes
Mid Term Ι Exam
15%
25%
Mid Term ΙΙ Exam
Term Final Exam
25%
30%
Attendance
5%
Grading Policy
Marks (%)
Letter Grade
Grade Point
Marks (%)
Letter Grade
Grade Point
97-100
A+
4.00
73-76
C+
2.30
90-96
A
4.00
70-72
C
2.00
87-89
A-
3.70
67-69
C-
1.70
83-86
B+
3.30
63-66
D+
1.30
80-82
B
3.00
60-62
D
1.00
77-79
B-
2.70
Below 60
F
0.00
Examination Schedule
Examinations will be taken as per University Schedule
Learning Outcomes




Understand market equilibrium, elasticity and the concepts of social surplus
Understand principles of producer’s behaviour
Understand utility and consumer behaviour
Understand market structure



Be able to differentiate between demand shifts and supply shifts
Be able to analyze market structure.
Be able to analyze price change, elasticity and market revenue
Special Instructions



No make up exams and make up class quizzes except for serious compelling reasons.
No comprehensive exams. Each exam will consist of its own respective part.
No cellular phone during class hour.
Best of Luck