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The Syllabi of The Course of Microeconomics Course number : 12103 Constitutor Unit: School of Economics Constitutor: Xiao Lu Time: 21/02/2016 The Second Semester 2015---2016 Academic Year The Syllabi of The Course of Microeconomic 1. Description of The Course The syllabi is based on the training plans for economic undergraduate in 2015 Microeconomics Course Course character Total Teaching Hours School giving the course Course number A required course 48 School Economics of 12103 Calculous Courses studied advance in Teaching Hours week per 3 Xiao Lu Instructor Writer Xiao Lu Writing time 21/08/2016 Course Leader Xiao Lu Reviewer Chen weidong Textbook Michael P.akin Economics 12th edition, Boston San Francisco New York:, 2015. The course is aimed at better enabling students to build the economic way of thinking and go about seeking answers to two big economic questions that are how do choices end up determining what, how, and for whom goods and services are produced ? can the choices that people make in the pursuit of their own self-interest also promote Objective: the broader social interest? After studying, students learn how to use the economic toolkit to analyze their own decisions and understand the events and issues they are confronted with in the media and the complex economy. Examinations 20% Presentation, coursework, class attendance, and seminar 30% Mid-term exam 50% the final exam 2.The Distribution of Teaching Hours Chapter Contents The distribution of teaching hours teaching Chapter 1 What is economics ? 1.1 Define economics and distinguish between microeconomics and macroeconomics 1.2 Explain the two big questions of economics 1.3 Explain the key ideas that define the economic way of thinking 1.4 Explain how economists go about their work as social scientists and policy advisers 3 Chapter 2 2.1 Define the production possibilities frontier The economic and use it to calculate opportunity cost 2.2 Distinguish between production problem 3 possibilities and preferences and describe an efficient allocation of resources 2.3 Explain how current production choices expand future production possibilities 2.4 Explain how specialization and trade expand production possibilities 2.5 Describe the economic institutions that coordinate decision Chapter 3 Demand and supply Chapter4 Elasticity 3.1 Describe a competitive market and think about a price as an opportunity cost 3.2 Explain the influences on demand 3.3 Explain the influences on supply 3.4 Explain how demand and supply determine prices and quantities bought and sold 3.5 Use the demand and supply model to make predictions about changes in prices and quantities 3 4.1 Define, calculate, and explain the factors that influence the price elasticity of demand 4.2 Define, calculate, and explain the factors that influence the income elasticity of demand and the cross elasticity of demand 4.3 Define, calculate, and explain the 3 experiment factors that influence the elasticity of supply Chapter5 5.1 Describe the alternative methods for allocating scarce resources 5.2 Explain the connection between demand and marginal benefit and define consumer surplus; and explain the connection between supply and marginal cost and define producer surplus 5.3 Explain the conditions under which markets are efficient and inefficient 5.4 Explain the main ideas about fairness and evaluate claims that markets result in unfair outcomes 3 6.1 Explain how rent ceilings create housing shortages Explain the influences on demand 6.2 Explain how minimum wage laws create unemployment 6.3 Explain the effects of a tax 6.4 Explain the effects of production quotas and subsidies 6.5 Explain how markets for illegal goods work 3 Chapter7 Global Markets in Action 7.1 Explain how markets work with international trade 7.2 Identify the gains from international trade and its winners and losers 7.3 Explain the effects of international trade barriers 7.4 Explain and evaluate arguments used to justify restricting international trade 3 Chapter8 Utility and Demand 8.1 Explain the limits to consumption and describe preferences using the concept of utility 8.2 Explain the marginal utility theory of consumer choice 8.3 Use marginal utility theory to predict the effects of changes in prices and incomes and to explain the paradox of value Efficiency and Equity Chapter6 Government Actions Markets in 3 8.4 Describe some new ways of explaining consumer choices Chapter9 Possibilities, Preferences, and Choices 9.1 Describe a household’s budget line and show how it changes when prices or income change 9.2 Use indifference curves to map preferences and explain the principle of diminishing marginal rate of substitution 9.3 Predict the effects of changes in prices and income on consumption choices 3 10.1. Distinguish between the short run and the long run 10.2 Explain and illustrate a firm’s short-run product curves 10.3 Explain and derive a firm’s short-run cost curves 10.4 Explain and derive a firm’s long-run average cost curve 6 Chapter 11 Perfect competition 11.1Competition 11.2 The Firm’s Decisions in Perfect Competition 11.3 Output, Price, and Profit in Perfect Competition 11.4 Changing Tastes and Advancing Technology 11.5 Competition and Efficiency 3 Chapter 12 Monopoly 12.1 Market Power 12.2 A Single-Price Monopoly’s Output and Price Decision 12.3Single-Price Monopoly and Competition Compared 12.4 Price Discrimination 12.5 Monopoly Policy Issues 3 13.1 Define and identify monopolistic competition 13.2 Explain how a firm in monopolistic competition determines its price and output in the short run and the long run 13.3 Explain why advertising costs are high 6 Chapter 10 Output and costs Chapter 13 Monopolistic competition and why firms in a monopolistic competition use brand names Chapter Oligopoly 14 14.1 Define and identify oligopoly 14.2 Use game theory to explain how price and output are determined in oligopoly 14.3 Use game theory to explain other strategic decisions 14.4 Describe the antitrust laws that regulate oligopoly Total Teaching Hours 3 48 任课教师有 权调整课时 3.Teaching objectives, emphasis and difficulties, contents in Unit Contents Chapter 1 What is economics ? Chapter 2 The economic problem Chapter 3 Demand and supply Chapter 4 Chapter 5 Chapter 6 Chapter 7 Elasticity Efficiency and Equity Government Actions in Markets Global Markets in Action Chapter 8 Utility and demand Chapter 9. Possibilities, Preferences, and Choices Chapter 10. Output and costs Chapter 11 Perfect competition Chapter 12 Chapter 13 Chapter 14 Monopoly Monopolistic competition Oligopoly Chapter 1 What is Economics 【Objective】 After studying this chapter, Students will be able to ideas that define the economic way of thinking 【Emphasis and Difficulties】 Scarcity opportunity cost 【Contents】 1.1 Definition of Economics 1.2 Three Big Microeconomic Questions 1.3 Three Big Macroeconomic Questions Chapter 2 The economic problem 【Objective】 After studying this chapter, Students will be able to ences and describe an efficient allocation of resources volved 【Emphasis and Difficulties】 Production Possibilities 【Contents】 2.1 Production Possibilities and Opportunity Cost 2.2 Using Resources Efficiently 2.3 Economic Growth 2.4 Gains from Trade 2.5 The Market Economy Chapter 3 Demand and supply 【Objective】 After studying this chapter, Students will be able to t changes in prices and quantities【Emphasis and Difficulties】 Demand Quantity Demanded Market Equilibrium 【Contents】 3.1 3.2 3.3 3.4 Supply Quantity supplied Markets and Prices Demand Supply Market Equilibrium Chapter 4 Elasticity 【Objective】 After studying this chapter, Students will be able to income elasticity of demand 【Emphasis and Difficulties】 Price Elasticity of Demand Elasticity of Supply 【Contents】 4.1 Price Elasticity of Demand 4.2 More Elasticities of Demand 4.3 Elasticity of Supply Chapter 5 Efficiency and Equity 【Objective】 After studying this chapter, Students will be able to define producer surplus -valued uses and the sources of inefficiency in our economy 【Emphasis and Difficulties】 Efficiency: Consumer Surplus Producer Surplus【Contents】 5.1 Efficiency: A Refresher 5.2 Value, Price, and Consumer Surplus 5.3 Cost, Price, and Producer Surplus5.4 Economic Characteristics of Poverty Groups 5.5 Is the Competitive Market Efficient? Is the Competitive Market Fair? Chapter 6 Government Actions in Markets 【Objective】 After studying this chapter, Students will be able to es and inefficiency inefficiency w speculation and price stabilization agencies influence farm prices and farm revenues 【Emphasis and Difficulties】 Rent Ceilings the Minimum Wage Taxes Farm Revenues 【Contents】 6.1 Housing Markets and Rent Ceilings 6.2 The Labor Market and the Minimum Wage 6.3 Taxes 6.4 Markets for Illegal Goods 6.5 Stabilizing Farm Revenues Chapter 7 Global Markets in Action 【Objective】 After studying this chapter, Students will be able to Explain how markets work with international trade Identify the gains from international trade and its winners and losers Explain the effects of international trade barriers Explain and evaluate arguments used to justify restricting international trade 【Emphasis and Difficulties】 international trade 【Contents】 71. How markets work with international trade 7.2 Winners, Losers, and the Net Gain from Trade 7.3 International Trade Restrictions Chapter 8 Utility and Demand 【Objective】 After studying this chapter, Students will be able to utility and distinguish between total utility and marginal utility 【Emphasis and Difficulties】 preferences utility marginal utility total utility 【Contents】 8.1 Household Consumption Choices 8.2 Maximizing Utility 8.3 Predictions of Marginal Utility Theory 8.4 Efficiency, Price, and Value Chapter 9 Possibilities, preferences, and choices 【Objective】 After studying this chapter, Students will be able to ing marginal rate of substitution -leisure choices 【Emphasis and Difficulties】 Consumption Possibilities Indifference Curves 【Contents】 9.1 Consumption Possibilities 9.2 Preferences and Indifference Curves 9.3 Predicting Consumer Behavior 9.4 Work-Leisure Choices Chapter 10. Output and costs 【Objective】 After studying this chapter, Students will be able to the short run and the long run -run cost curves he relationship between a firm’s output and costs in the long run -run average cost curve 【Emphasis and Difficulties】 Short-Run Cost Long-Run Cost 【Contents】 10.1. Decision Time Frames 10.2 Short-Run Technology Constraint 10.3 Short-Run Cost 10.4 Long-Run Cost Chapter 11. Perfect competition 【Objective】 After studying this chapter, you will able to 【Emphasis and Difficulties】 Competition Perfect Competition 【Contents】 11.1Competition 11.2 The Firm’s Decisions in Perfect Competition 11.3 Output, Price, and Profit in Perfect Competition 11.4 Changing Tastes and Advancing Technology 11.5 Competition and Efficiency Chapter 12. MONOPOLY 【Objective】 After studying this chapter, you will able to -price monopoly and price-discriminating monopoly -price monopoly determines its output and price -price monopoly and competition 【Emphasis and Difficulties】 Market Power A Single-Price Monopoly’s Output Price Discrimination 【Contents】 12.1Market Power 12.2 A Single-Price Monopoly’s Output and Price Decision 12.3Single-Price Monopoly and Competition Compared 12.4Price Discrimination 12.5Monopoly Policy Issues Chapter 13 Monopolistic competition 【Objective】 After studying this chapter, you will able to Define and identify monopolistic competition Explain how output and price are determined in a monopolistically competitive industry Explain why advertising costs are high in a monopolistically competitive industry 【Emphasis and Difficulties】 Monopolistic Competition Oligopoly 【Contents】 13.1Monopolistic Competition 13.2Output and Price in Monopolistic Competition 13.3Product Development and Marketing Chapter 14. oligopoly 【Objective】 After studying this chapter, you will able to Define and identify oligopoly Use game theory to explain how price and output are determined in oligopoly Use game theory to explain other strategic decisions Describe the antitrust laws that regulate oligopoly 【Emphasis and Difficulties】 oligopoly , game theory 【Contents】 14.1Oligopoly 14.2Oligopoly Games 14.3Repeated Games and Sequential Games