UNDERGRADUATE COURSE SYLLABUS
Course Code
and Title
Level
Credits:
Length
Course
Description:
Learning
Outcomes
ECON 1001 A - MICROECONOMICS
Undergraduate
3
42 hours
This course is a broad survey of the microeconomic theories and policies.
Emphasis is placed on the fundamentals of microeconomics, on market
equilibria and on the organization of the firm (theory of supply and
demand, price elasticity, theory of the firm, the calculation of costs and
revenues, perfect competition, monopolies, oligopolies and monopolistic
competition).
On successful completion of this course students will be able to:



Course
Prerequisite
Required
Textbook
Other
Resources/Re
commended
Readings
Demonstrate understanding of the basic concepts and principles
of microeconomic theory, of how our economies work to allocate
scarce resources among consumers and firms.
Explain the framework for this analysis and understand how this
framework can be applied to understand how markets and
production are organized
Develop their own point of view and critical thinking of today’s
economic issues that affect consumer and producer choices.
None
Michael Parkin, Microeconomics, 12th Global edition, Pearson: 2016.
ISBN: 9781292094632
Paul A. Samuelson and William D. Nordhaus, Economics, 18th ed.,
Irwin/McGraw-Hill, 2007
Hal R. Varian, Intermediate Microeconomics-A Modern Approach, 7th ed.,
WW. Norton, 2006
Your understanding of both current economic events and economic
analysis will benefit from the regular reading of periodicals such as The
Economist, The Financial Times, The Wall Street Journal, and
Business Week.
Name of
Instructor
Contact
Details
Professor Ingo BÖBEL, Dr., Dr. habil.
Term
Spring 2016
ibobel@monaco.edu
For course details see: www.ibobel.pbwiki.com
Phone: +377-97-986-986
Office hours: Tues. and Thursday 11.00 – 12.30 (Room 204)
1
Class Meeting
Times
Methodology
Tuesday and Thursday 8.30 to 10.00 am
Attendance
Policy
Attendance is compulsory and will be taken at each class. It is ultimately
the student’s responsibility to make sure all of the work for each course
is completed.
Students are expected to attend all examinations, presentations and inclass exercises.
Missed quizzes, examinations or any in-class exercise will result in a 0%
mark. Make-up examinations will only be permitted in exceptional cases
and with the prior written approval of the Program Director or the
Academic Committee.
At the Undergraduate level, points are subtracted for absences.
For more details, please consult the Handbook of Academic Policies and
procedures
Class
Behavior
Students and the instructor must respect and preserve the integrity of
the learning environment of the classroom. Accordingly, disruptive
behavior is not permitted, in particular, late arrivals and generally
entering or leaving the classroom without authorization, any use
of mobile phones, using computers for activities other than those
of the class are not permitted. Hats should be taken off in class.
Academic
Honesty
IUM views any form of academic dishonesty - cheating and plagiarism as unacceptable and subject to disciplinary action that will impact the
course grade. Repeated incidents of academic dishonesty may lead to
the student dismissal. For more details, please consult the Handbook of
Academic Policies and procedures.
Grades are given as percentage according to the US grading system
described in the below table:
Grading
The course will be taught in an interactive and participatory mode
through a mix of lectures, discussions, exercises and case analysis.
Homework is assigned with the intent that students make an effort to
understand the topic covered prior to the corresponding class so that
they can fully benefit from the in-class discussion.
Students:
- must come prepared to each class by having read the chapters
related to the course in the textbook
- are encouraged to actively use the library resources when
solving homework problems or any other assignments
Letter
Grade
Percentage
Range
A
95-100%
A-
90-94%
B+
87-89%
B
83-86%
B-
80-82%
Quality of Work
Outstanding/ excellent performance
Good work
2
Course grade
breakdown:
C+
77-79%
C
73-76%
C-
70-72%
D+
67-69%
D
63-66%
D-
60-62%
F
< 60%
Acceptable work
Poor work.
Fails to meet minimum requirements
The final course grade is consists of the following components and relative
weight:
Assessment event
Relative Weight
(coefficient)
Homework incl. class participation
20
3 Quizzes
40
Final exam
40
TOTAL
100
Course outline
Session /
Date
Topics covered / Activity planned
1
Course organization
12.1.16
2
Readings/
Assignments due
Chapter numbers are from Parkin’s textbook
What is Economics?
What is Economics Cont’d.
Demand and Supply
Classroom exercises
Ch 1.
pp. 39-51
Read the Appendix
on Graphs (pp.
53ff.)
Ch 2.
pp. 69-83
Ch. 2
pp. 69-83
Read pp. 91/92
Ch. 3
pp. 93-106
Demand and Supply Cont’d.
Classroom exercises
Ch. 3
pp. 93-106
14.1.16
3
19/01/16
4
21/01/16
5
26/01/16
6
28/01/16
Ch 1.
pp. 39-51
Classroom exercises
The Economic Problem
Classroom exercises
The Economic Problem Cont’d.
Classroom exercises
3
7
Demand and Supply Cont’d.
2/2/16
8
4/2/16
9
Elasticity
The price elasticity of demand
Classroom exercises
Ch. 3
pp. 93-106
Read pp. 107-113
Quiz 1
Ch. 4
pp. 121-137
11/2/16
Elasticity Cont’d
The price elasticity of supply and other elasticities
Classroom exercises
Break
Spring break 13.2.-21.2.16
10
Organizing production
Classroom exercises
Ch.10
pp. 261-279
Organizing production Cont’d
Classroom exercises
Organizing production Cont’d
Classroom exercises
Output and Costs
Costs in the short-run
Classroom exercises
Output and Costs Cont’d
Costs in the long-run
Classroom exercises
Perfect Competition
Ch. 10
pp. 261-279
Ch. 11
pp. 261-279
Ch. 11
pp. 285-297
23/2/16
11
25/2/16
12
1/3/16
13
3/3/16
14
8/3/16
15
10/3/16
Ch. 4
pp. 121-137
Ch. 11
pp. 298-303
Ch. 12
pp. 309-329
Quiz 2
16
15/3/16
17
17/3/16
18
22/3/16
19
24/3/16
20
29/3/16
21
31/3/16
22
5/4/16
Perfect Competition Cont’d
Classroom exercises
Perfect Competition Cont’d
Classroom exercises
Monopoly
Classroom exercises
Monopoly Cont’d
Classroom exercises
Ch. 12
pp. 309-329
Ch. 12
pp. 309-329
Ch. 13
pp. 335-355
Ch. 13
pp. 335-355
Monopoly Cont’d
Classroom exercises
Monopolistic competition
Classroom exercises
Ch. 13
pp. 335-355
Ch. 14
pp. 361-373
Monopolistic competition Cont’d
Classroom exercises
Ch. 14
pp. 361-373
Quiz 3
4
23
Oligopoly and Antitrust
Ch. 15
pp. 379-381
pp. 394-397
Externalities
Ch 17
pp. 429-449
7/4/16
24
12/4/16
25
Revision (last class)
14/4/16
Last updated: January 7, 2016
5