Applied microeconomics: Introduction
| Numbering Code | U-AGR04 1D106 LJ43 | Year/Term | 2022 ・ Second semester | |
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| Number of Credits | 2 | Course Type | Lecture | |
| Target Year | 1st year students | Target Student | ||
| Language | Japanese | Day/Period | Tue.2 | |
| Instructor name |
MITANI YOUHEI (Graduate School of Agriculture Associate Professor) CHIN KINKO (Graduate School of Agriculture Associate Professor) |
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| Outline and Purpose of the Course | This course explains microeconomics' basic concepts and tools as an introductory course to applied microeconomics. The first half (led by Mitani) focuses on the objectives and methods of economics, social dilemmas, and game theory. The second half (led by Shen) focuses on consumer behavior, producer behavior, and markets. | |||
| Course Goals | Learn the fundamentals of game theory and market mechanisms. Gain insight into real-world environmental, food, and social issues using standard microeconomics tools. Acquire the basic academic abilities needed by second-year students taking applied microeconomics (D201) and third-year students taking microeconomics methodologies (D316). | |||
| Schedule and Contents |
This course consists of 2 parts (7 lectures each) in the first half and the second half. First half (led by Mitani): The first half is an introduction to applied microeconomics. We will explore the purpose and method of economics and social dilemmas and introduce game theory using familiar examples. Students will deepen their understanding of basic concepts and theories through economic experimentation, calculation exercises, and group discussions. Week 1: Introduction (normative and positive economics, incentive, willingness to pay, efficiency, truth revelation) Week 2-3: Social dilemmas (social dilemmas, cooperation, free-ride, global warming game) Week 4-6: Game theory (noncooperative game, dominance, backward induction, Nash equilibrium) Week 7: Midterm exam Second half (led by Shen): In the second half, we will explore microeconomics' theory and analytical methods?the fundamentals of economics?to understand economic activities and economic systems in modern society. Week 8: Analytical methods of economic phenomena and economics Week 9-10: Consumer behavior and demand for goods and services Week 11-12: Producer behavior and supply of goods and services Week 13-14: Markets, prices, resource allocation, and income distribution Week 15: Final examination Students will be notified separately about feedback methods. |
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| Evaluation Methods and Policy |
Grading method: Based on assignments and written exams. Grading policy: This will be explained in detail at the beginning of the course. The 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) | Review is required for the assigned report (first half only) and written exams. Details will be explained at the first lecture. | |||
| Textbooks | Textbooks/References |
Further details will be explained at the beginning of the course. First half: 神取道宏『ミクロ経済学の力』（日本評論社）[Michihiro Kandori, The Power of Microeconomics, Nihon Hyoronsha] Second half: 西村和雄 『ミクロ経済学入門』（岩波書店）[Kazuo Nishimura, Introduction to Microeconomics, Iwanami Shoten] |
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| References, etc. | Will be introduced during the lectures. | |||
