Contemporary Economics I-E2

Numbering Code U-LAS06 10009 LE43 Year/Term 2021 ・ First semester
Number of Credits 2 Course Type Lecture
Target Year All students Target Student For all majors
Language English Day/Period Wed.3
Instructor name Ma Teng (Graduate School of Economics Program-Specific Senior Lecturer)
Outline and Purpose of the Course This course is an introductory undergraduate course that teaches the fundamentals of microeconomics. For some students, it provides a solid foundation for economic analysis and thinking that can last throughout their education and subsequent professional careers. For other students, it may provide a foundation for many years of study in economics, business, or related fields.
Course Goals - Understand consumer and firm behavior
- Analyze different types of market structures
- Solve a consumer's utility maximization problem mathematically and graphically; analyze the impact of changes in price and income on a consumer's decision via shifting income and substitution effects.
- Analyze the behavior of firms in a monopoly or oligopoly, and calculate the resulting changes in producer or consumer surplus
- Use economic tools to analyze economic policies
Schedule and Contents This course begins with an introduction to supply and demand and the basic forces that determine an equilibrium in a market economy. Next, it introduces a framework for learning about consumer behavior and analyzing consumer decisions. We then turn our attention to firms and their decisions about optimal production, and the impact of different market structures on firms' behavior. The final section of the course provides an introduction to some of the more advanced topics that can be analyzed using microeconomic theory. These include antitrust policy and negative and positive externalities.

1. Introduction to Microeconomics
2. Applying Supply and Demand
3. Elasticity
4. Consumer Choices
5. Applying Consumer Theory
6. Firm and Production
7. Costs
8. Competitive Firms and Markets
9. Applying the Competitive Model
10. General Equilibrium and Economic Welfare
11. Monopoly
12. Pricing and Advertising
13. Students’ Conference on Selected Macroeconomic Topics (I)
14. Students’ Conference on Selected Macroeconomic Topics (II)
15. Feedback

By the end of the course, you will be able to understand introductory microeconomic theory, solve basic microeconomic problems, and use these techniques to think about a number of policy questions relevant to the operation of the real economy.
Evaluation Methods and Policy Quizzes (6/10); Presentations (4/10).
Course Requirements None
Study outside of Class (preparation and review) - Prepare and review class contents (textbook).
- Complete and submit all assignments, and take quizzes by the assigned due dates.
Textbooks Textbooks/References Microeconomics, 8e, Jeffrey M. Perloff, (Pearson), ISBN:0134519531
Principles of Microeconomics, 2e, STEVEN A. GREENLAW, DAVID SHAPIRO, TIMOTHY TAYLOR., (Openstax), ISBN:9781947172340
References, etc. PRINCIPLES OF MICROECONOMICS, Eighth Edition, N. GREGORY MANKIW, (Cengage Learning)
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