Principle of Economics I (Applied Microeconomics)
| Numbering Code | U-AGR04 2D201 LJ43 | Year/Term | 2022 ・ First semester | |
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| Number of Credits | 2 | Course Type | Lecture | |
| Target Year | 2nd year students | Target Student | ||
| Language | Japanese | Day/Period | Wed.3 | |
| Instructor name | Ito Junichi (Graduate School of Agriculture Professor) | |||
| Outline and Purpose of the Course |
This course explains the basic concepts of microeconomics and how to apply them. "Applications," the title of the course, incorporates two meanings. The first is "application" in comparison with the "basics," and the second is "application" in the sense of limiting the target. The course will discuss both. Topics covered in the course include the theory of producer and consumer behavior, the concept of market equilibrium and agricultural markets, welfare economics and food production, market failures, and environmental conservation. The course will focus on acquiring basic knowledge to identify food, agricultural, and environmental issues and consider solutions. |
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| Course Goals | Microeconomics involves analyzing the behavior of producers and consumers and the functioning of markets in which they gather to trade goods and services. The government plays an important role in food and environmental economics. Governments may act on the producers’ and consumers’ behalf because the marketplace does not function properly. They may also act in ways that seemingly contradict social welfare maximization. This course aims to improve students’ ability to interpret the realities of food, agricultural, and environmental issues while using the concepts of microeconomics. | |||
| Schedule and Contents |
Introduction: Applied microeconomics ・Lecture 1: Microeconomics offered by the Department of Food and Environmental Economics ・Lecture 2: Optimization and equilibrium 1. Theory of producer behavior ・Lecture 3: Production function ・Lecture 4: Producer optimization actions ・Lecture 5: Application to problems in food and agriculture 2. Theory of consumer behavior ・Lecture 6: Undifferentiated function and utility ・Lecture 7: Consumer optimization actions ・Lecture 8: Estimation of the demand function and characteristics of demand for agricultural products 3. Market equilibrium and agricultural markets ・Lecture 9: Basic concepts of market equilibrium ・Lecture 10: Slump in world agricultural markets and market mechanisms 4. Welfare economics and food production ・Lecture 11: Concept of surpluses ・Lecture 12: Functions of the market and the role of the government 5. Market failure and environmental conservation ・Lecture 14: Public goods and externalities [Final examination] ・Lecture 15: Feedback |
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| Evaluation Methods and Policy |
Grading method: Grading will use the final exam grades (70%) and the submission of reports, etc. Grading criteria: Grading criteria and policies are based on the grading criteria and policies described in the Handbook of the Faculty of Agriculture for the applicable year. |
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| Course Requirements | None in particular | |||
| Study outside of Class (preparation and review) | Notes that will be used during the lectures will be distributed in advance. Be sure to read and understand them. | |||
| Textbooks | Textbooks/References | None | ||
| References, etc. | 神取道宏 『ミクロ経済学の力』 (日本評論社), 西村和雄 『経済数学早わかり』 (日本評論社), 生源寺眞一 『農業と人間』 (岩波書店) [Michihiro Kandori, The Power of Microeconomics, Nihon Hyoronsha; Kazuo Nishimura, Quick Understanding of Economic Mathematics, Nihon Hyoronsha; Shinichi Shogenji, Agriculture and Humans, Iwanami Shoten] | |||
