COURSE SYLLABUS©
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COURSE DETAILS
TERM:
COURSE TITLE:
PREREQUISITES:
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TEXTBOOK /
REQUIRED READING
MATERIALS:
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ECON 3020/ add section
Intermediate Microeconomics (Semester)
ECON 2020, ECON 2030, MATH 1470, BUSN 2750
25
None
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List particularly every title requiring a bookstore order. For help choosing a
textbook, including receiving gratis academic inspection copies, contact the
librarian Benjamin Fasching-Gray at benjamin.fasching-gray@webster.ac.at .
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enter that title. If you would like to change this textbook, you must get the
approval from your department head.
COURSE DESCRIPTION
This course covers advanced theory and applications in microeconomics. Topics include utility theory,
consumer and firm choice, optimization, goods and services markets, resource markets, strategic behavior,
and market equilibrium.
COURSE OBJECTIVES / LEARNING OUTCOMES
Outcome
Students learn about introductory economics
terms and concepts.
Students will learn more advanced topics that
relate to supply and demand.
Expectation
Students will learn about such things as
scarcity, marginal analysis, opportunity cost,
the difference between macroeconomics and
microeconomics, and the ceteris paribus
assumption.
Aside from reviewing the basics of supply and
demand, students will be introduced to more
advanced topics that pertain to supply and
demand.
Palais Wenkheim, Praterstrasse 23, 1020 Vienna, Austria - www.webster.ac.at
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Students learn the basics of consumer choice
theory.
Students will learn more advanced topics that
relate to production and cost theory.
Students learn how to solve optimization
problems under different economic scenarios.
Students will learn how the concept of
elasticity can impact a firm’s profit maximizing
decision-making with respect to pricing.
Students will learn how to use regression
analysis to conduct simple demand estimation
models, which will allow for the calculation of
various demand elasticities.
Students will also learn how to apply their
knowledge of supply and demand of products
to the supply and demand for labor.
Students will learn how to use indifference
curve and budget constraint analysis to
determine the consumer’s optimal
consumption bundle.
Students will also learn how to apply the basic
tenets of consumer choice theory to various
real-world situations.
Students will learn about more advanced
production and cost theories such as Cobb
Douglass functions, isoquant-isocost analysis,
and expansion paths.
Students will also learn how to apply the basic
tenets of these more advanced theories to
various real-world situations.
Students will learn how to calculate
equilibrium price and output under each of the
4 major market structures: perfect
competition, monopoly, monopolistic
competition, and oligopoly.
Students will learn how pricing, production
levels, and profits differ across these various
economic environments.
Students will also learn how the concept of
elasticity can impact a firm’s profit maximizing
decision-making with respect to pricing.
Students will also learn how the use of game
theory can help determine strategic decisions
made by firms in a world of uncertainty.
Palais Wenkheim, Praterstrasse 23, 1020 Vienna, Austria - www.webster.ac.at
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GRADE BREAKDOWN
(Note: instructors can determine the components of evaluations, below is just an example).
GRADING SCALE:
MIDTERM EXAM:
FINAL EXAM:
QUIZZES/ASSIGNMENTS:
CLASS PROJECT:
PARTCIPATION:
A: 93-100, A-: 90-92, B+: 87-89, B: 83-86, B-: 80-82, C+: 77-79,
C: 73-76, C-: 70-72, D+: 67-69, D: 63-66, F: <63
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COURSE POLICIES / ADDITIONAL INFORMATION
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work, an explanation of how you enforce the attendance policy (for example, whether lateness counts as a
partial absence, or points taken off for each absence or partial absence, etc.), elucidation of what
constitutes cheating, etc. or, use this section for any additional information that pertains to your course.
WEEKLY SCHEDULE
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For semester courses only:
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Palais Wenkheim, Praterstrasse 23, 1020 Vienna, Austria - www.webster.ac.at
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UNIVERSITY POLICIES
Students are required to inform themselves of WUV academic policies. A full list of these policies is available on the WUV website:
http://webster.ac.at/academic-policies
Academic Honesty & Cheating:
The University is committed to high standards of academic honesty. Students will be held responsible for violations of these standards.
A special Honor Code that the Vienna Student Council has developed applies to students and faculty. Any student found cheating on
any part of the course work (homework assignment, term paper, quiz, exam, etc.) will automatically be given an “F” for the course.
Any student found to be helping another student to cheat will likewise be given an “F” for the course. In each case, the student will
also be put on disciplinary probation for the remainder of her or his stay at Webster. If the student is found to have engaged in
cheating a second time, s/he will be automatically expelled from the University. Faculty members are held responsible for upholding
and enforcing the Honor Code.
Academic Work:
Students are required to save digital or hard-copy files of any and all materials they use for any assignment in any WUV course. Upon
the instructor's request they have to provide complete text documentation for any sources they have used. In every case, should the
assignment or project be shared outside the academic department, the student's name and all identifying information about that
student will be redacted from the assignment or project.
Contact Hours:
Graduate courses are only offered in an 8- week term format and meet 1-time per week for 4 hours. Graduate Mid-term and final
exams sessions are scheduled in 2-hour block sessions in addition to weekly class meeting times (36 total contact hours). Please see
the Graduate Course Schedule/Timetable on the website for specific exam dates/times: http://webster.ac.at/graduate-courseofferings-and-schedules
Undergraduate courses are offered either in term format, which meets for two 2-hour sessions per week for 8 consecutive weeks (32
contact hours), or a 15-week semester format, which meets for two 1.5 – hour sessions for 8 consecutive weeks followed by a break
week (no classes are held) and then for another 7 consecutive weeks. The total number of contact hours for undergraduate semester
courses is thus 45.
Attendance:
Students are expected to attend all class sessions of this course. In the case of unavoidable absence, the student must contact the instructor
and provide written documentation. The student is subject to appropriate academic penalty for incomplete or unacceptable makeup work,
or for excessive or unexcused absences.
Excused absences—based on submitted documentation—must not exceed:
 Four class sessions when the course meets twice a week;
 Two class sessions when the course meets only once a week.
Should the number of excused absences be higher, it is the student's responsibility to withdraw from the course.
In the case of unexcused absences, amounting to:
 Four class sessions when the course meets twice a week;
 Two class sessions when the course meets only once a week;
the instructor must lower the student's grade by one letter grade and inform the student of the action.
Should the number of unexcused absences be higher, the instructor must assign the grade of F and inform the student of the action.
Note: In the case of a mixture of excused and unexcused absences, the instructor’s response must be based on the dominant category.
Student Conduct:
Since every student is entitled to full participation in class or exams without interruption, disruption of class by inconsiderate behavior
is not acceptable. Students are expected to treat the instructor and other students with dignity and respect, especially in cases where
a diversity of opinion arises. Students who engage in disruptive behavior are subject to disciplinary action, including removal from the
course. All and any use of a cell phone is strictly prohibited during class. Students using a cell phone may be sent out of the classroom,
which may result in an unexcused absence. If a calculator is needed in any class, the student must bring a calculator—and not a cell
phone. It is up to the individual instructor to rule on the use of laptops or I-pads. Instructors have the right to prohibit students’ use of
such electronic devices.
Palais Wenkheim, Praterstrasse 23, 1020 Vienna, Austria - www.webster.ac.at
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