Download ECON 2302 - Principles of Micro-Economics

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SyllabusMicroeconomics_ECON2302- Fall
2012. HCC, Saigontech.
Syllabus-Microeconomics-ECON2302 Quang Trung Software Park,
Section
Course Syllabus
Course: Microeconomics; Econ 2302
Semester: Fall 2012
Instructor: Bui Van Chinh
Location: Quang Trung Software Park
Time: 07:30 – 10:40 , Wed. from Sept.19th, 2012 to Jan. 3rd, 2013
Text:
 Hardcover: Krugman and Wells (2001) Economics, 1st edition, Worth Publisher
 Electronic version: Economics by Krugman and Wells electronic version is also
available at http://www.pkarchive.org/theory/13.html, but for some chapters only
Instructor Email: [email protected]
Instructor Phone: 090 368 1969
Course Description: Fundamental principles of economics emphasize the roles and decisionmaking of the industry, firm and individual. To better illustrate this, the instructor uses many
real-world examples in Vietnam.
Course Objective: enable the student to analyze basic microeconomic issues and develop of
basic understanding of:
 How a “market economy” works, and gives incentives to buyers and sellers
 How supply and demand are determined, how they change, and how markets
reach equilibrium
 How and why government might intervene the market
 How sellers set prices, determine output in various market structures to maximize
their profits
 How buyers determine how much they want to buy to maximize their utility with
a budget constraint
Grading scheme (How the Final Grade is Calculated) and passing grade
Example:
1 In-class Test 1:
10%
2 In-class Test 2:
10%
3 Project:
25%
4 Midterm:
25%
5 Final:
30%
(Student Evaluation: achievement of these objectives will be measured as follows:
Mid- term exam
35%
Homework assignment
20%
2
Class Participation & Attendance:
Final Exam
10%
35% ( reserved just incase.)
Mid- term and final examinations will consist totally of multiple-choice questions.
Midterm test will take totally 40 and 75 minutes respectively with 30 multiple- choice
questions, and 2 topics for essay .
During this course, each student is asked to write an assignment independently about
a real- word economic issue for a specific market in Vietnam.
The class participation grade will be based on a student’s preparedness, assigned
readings, and his/her overall contribution to class discussions. The instructor may
assign some homework problems out of the book; these will be discussed in class,
and will be part of your class participation grade.
Grades will typically be scored on a scale of:
Grade
A
B
C
D
F
Final Score
90-100
80-89
70-79
60-69
0-59
Provisions for missed exams may be made for extraordinary situations, on a case by
case basis, at the instructor’s sole discretion. Students who may miss an exam should
make every effort to inform the instructor prior to the exam.
Exam
Mid-term
Final
Exam Type
Open/Close
book
Number
of
Questions
Duration
(minutes)
Points
Chapters
Online-Multiple
Choice
(on Computer)
close
30
40
60
1,2,3,4,5,6,
8
Essay
(on Paper)
Open
2
75
40
1,2,3,4,5,6,
8
close
30
40
60
9,10,14,
15, 16, 17
Open
2
75
40
9,10,14,
15, 16, 17
Online-Multiple
Choice
(on Computer)
Essay
(on Paper)
Class Format: the class will consist of weekly lectures, class discussion, and review
assigned homework questions and exercises. It is vital that students read class assignments
and complete the homework assignments, in order to keep up with the class and participate
in class discussion. In general, a typical class routine will be:
1) Lecture relating to the new assigned reading.
2) Review of homework, and clarifications of previous lectures/reading.
3) Class discussion of the new assigned reading and lecture.
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Attendance: Regular class attendance is expected, and poor attendance may reduce a
student’s class participation grade. Students are expected to submit their written notices to the
office or the instructor for their absence before class. Those who are absent more than ten
(10) hours will be dropped from the course and receive an F.
Academic Honesty: Cheating in any form and plagiarism will not be tolerated. Any
student discovered cheating on an examination or plagiarizing in writing assignment will be
dropped from the course and receive an F, and if deemed necessary, the matter will be
forwarded through the channels prescribed in the HCCS Student Handbook.
COURSE LEARNING OUTCOMES and LEARNING OBJECTIVES
ECON 2302 Principles of Microeconomics
Course SLOStudents’
learning
Outcomes
Learning
Objectives
1. Understand the basic economic terms
2. Can define the different economic concepts
3. Provide in-depth, typical examples to each of the concepts and models
4. Be able to interpret clearly most of the economic problems.
5. Can clarify principles and concepts by applicable evidences in real life.
I. Be able to understand the basic economic principles and concepts:
1 Scarcity, choice and opportunity cost
2 PPF, comparative advantage, specialization, and trade
3 Economic systems
4 Property rights and the role of incentives
5 Marginal analysis
II. Recognize the nature and functions of product markets:
1. Supply and demand. Market equilibrium
2. Determinant of supply and demand. Price and quantity controls
3. Elasticity, price, income, and cross price elasticity of demand
4. Price elasticity of supply. Consumer surplus, producer surplus and
market efficiency
5. Tax incidence and deadweight loss
III. Theory of consumer choice:
1. Total utility and marginal utility
2. Utility maximization: equalizing marginal utility per dollar
3. Individual and market demand curves
4. Income and substitution effects
IV. Production and costs
1. Production functions: short and long run
2. Marginal product and diminishing returns
3. Short run costs
4. Long run costs and economies of scale
5. Cost minimizing input combination
V. Firm behavior and market structure
1. Profit Accounting versus Economic profit. Normal profit
2. Profit maximization : MR=MC rule
3. Perfect competition. Monopoly. Oligopoly. Monopolistic
competition
4. Short run and long run equilibrium
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Class Schedule
Date
Topic
Required reading
19 Sept. 2012
Introduction, First principles
Chapter 1
week 1
26 Sept. 2012
Economic models
Chapter 2
week 2
3 Oct. 2012
Supply and demand
Chapter 3
week 3
10th Oct. 2012
The market strikes back
Chapter 4
week 4
17th Oct. 2012
Elasticity
Chapter 5
week 5
24 OCT. 2012
Consumer and Producer Surplus
Chapter 6
week 6
31 OCT 2012
Making decision
Review all 7 chapters from 1 to 7
Chapter 7
week 7
7 NOV. 2012
Review and Midterm test
main points of each
chapter from 1 to 7
week 8
14 NOV. 2012
Behind the supply curve: input and costs
Chapter 8
week 9
21 NOV. 2012
Perfect competition and the supply curve
Chapter 9
week 10
28 NOV. 2012
Rational Consumer
Chapter 10
week 11
Monopoly
Chapter 14
week 12
12 DEC. 2012
Oligopoly
Chapter 15
week 13
19 DEC 2012
Monopolistic competition
Chapter 16
week 14
Review for Final test
main points of all
chapters: from 8, 9, 10,
14, 15, and 16
5 DEC. 2012
26 DEC. 2012
week 15
2 JAN. 2013
Final test
week 16