Contemporary Economics I-E2
| Numbering Code | U-LAS06 10009 LE43 | Year/Term | 2022 ・ First semester | |
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| 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 |
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| 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 Microeconomic Topics (I) 14. Students’ Conference on Selected Microeconomic 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. |
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| 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. |
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| 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 |
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| References, etc. | PRINCIPLES OF MICROECONOMICS, Eighth Edition, N. GREGORY MANKIW, (Cengage Learning) | |||
