TAIPEI TECH - AUIA Summer Program
Taiwan Campus -Course Outline
MICROECONOMICS
SYLLABUS
Instructor: Paul J. Magelli, Visiting Professor of Economics*
Home Institution: University of Illinois at Urbana-Champaign
Email: pmagelli@illinois.edu
Office Hour: TBA
Microeconomics introduces you to the social science that studies how individuals,
institutions make the optimal best choices under conditions of scarcity. Economics
relies heavily on the scientific method to development theories and principles to
explain the likely effects from human events and behavior. The material in this
course will introduce you to theories, concepts, vocabulary to recognize, identify,
understand, and analyze the foundations of economics—theory of consumer
behavior, theory of producer behavior, market functionality under various kinds of
competition and economic issues, to clarify them and to determine the kinds of
solutions that economic principles suggest. Students should find these useful in
their career, personal life, and role as an informed citizen. Economics, indeed, is
enduring as life itself.
The course is comprised of 20 separate class sessions of 110 minutes in length for
a total of 40 class hours; in addition, I will meet with the various project teams to
provide guidance before each team presents to the full class.
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I require attendance and adherence to a code of honor; accordingly, cheating,
dishonesty, conduct, plagiarism, and collusion of the class assignments and
examinations will result in dismissal and failure of the course.
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Required Textbook: David C. Colander, Economics, 8th Edition, McGraw Hill Irwin,
New York, New York
In Class Handouts and Exercises
Class Meets Monday through Thursday from 11 a.m. until 12:50 a.m.
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COURSE REQUIREMENTS:
1. ATTENDANCE: AN ABSOLUTE REQUIREMENT and ACTIVE
PARTICIPATION IN CLASS DISCUSSION: 10% of GRADE
2. TWO PROBLEM SETS: 10% of grade
3. TWO UNANNOUNCED ‘IN-CLASS’ “ASSESSMENTS: 10% of grade
4. ONE MIDTERM: THURSDAY, WEEK TWO: 30% of grade
5. TEAM PROJECT AND PRESENTATION: 10% of grade
6. ONE FINAL EXAMINATION: THURSDAY: WEEK FOUR: 30% of grade
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COURSE SCHEDULE:
WEEK ONE: READ CHAPTERS 1, 2, 3, 4, 20, 21 and HANDOUTS
Session 1:
Introduction to MIcroeconomics; How the Course will Unfold; Key Concepts;
Developing a Personal Framework for Understanding MIcroeconomics
Session 2: Why Economics in the 21st Century: Welcome to Your World (of Economics); Teams
and Team Assignments
Session 3: The U.S. in a Global Economy: Dynamics and Implications;
Session 4:
Money and Capital; Literacy and Education
WEEK TWO: READ CHAPTERS8, 21,24,25,27,28,30,31,37,38, AND HANDOUTS
Session 5:
Labor Force; Employment; and Income; Reprise of Critical Sectors
Session 6:
Introduction to Microeconomic Analysis: The Indifference Curve
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Session 7:
Deriving the Demand Curve; The Demand Curve and Implications
Session 8: Isocost/Isoquant Analysis; Implications for the Producer and the Production Sector;
First Problem Set Due
[NOTE: WE WILL DISCUSS IF THE CLASS WOULD LIKE THE MID-TERM ON
FRIDAY WHEN ALL STUDENTS ARE AVAILABLE; IF THIS THIS WILL COUNT
FOR ONE CLASS SESSION; if not then, the Mid-Term will replace Session 9
WEEK THREE: READ CHAPTERS 3, 4, 20, 21, AND HANDOUTS
Session 9: The Family of Cost Curves; Analysis of the Costs of Production; Deriving the
Supply Curve
Session 10: The Economics of Resource Markets
Session 11: The Market: Demand and Supply; Elasticity
Session 12: Product Markets: Overview and Analysis; Pure and Monopolistic Competition;
Second Problem Set Due
WEEK FOUR: READ CHAPTERS 24.25.28,29,38, AND HANDOUTS
Session 13:
Oligopoly, Duopoly, Monopoly Markets
Session 14:
Private, Public, and Political Goods; the Role of Governments
Session 15:
The Microeconomics of Entrepreneurship
Session 16:
Economic and Sustainability
WEEK FIVE: COMPLETE READING OF ASSIGNED CHAPTERS
Session 17: Review and Discussion of Class Projects; Reprise of Microeconomics
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Session 18:
Team Presentations
Session 19: Team Presentations
Session 20:
Final Examination
*Professor Paul J. Magelli, Sr. earned bachelor’s, master’s and Ph.D. degrees in economics from the
University of Illinois (UIUC) and holds an honorary Doctor of Law, honoris causa, from the University of
Bristol, U.K., where he helped establish the Bristol Enterprise Centre. Previously, Magelli held a number
of positions at the University of Illinois, including assistant dean of the MBA program, assistant dean of
the College of Arts and Sciences, and associate dean and director of budgets. He has also been dean of the
Fairmount College of Liberal Arts and Sciences at Wichita State University, vice president for academic
affairs at Drake University, president of Metropolitan State College of Denver, and president of Parkland
College. Currently, he is the Senior Director of Academy for Entrepreneurial Leadership Development
and Executive Director of Illinois Business Consulting at UIUC Business College. In addition, In 1999,
Prof Magelli received University of Illinois Chancellor’s Distinguished Service Award for his decadeslong excellent service at UIUC. Currently he teaches the Chancellors Honors Micro/Macro Course;
Entrepreneurship and Enterprise Deve4lopment; Entrepreneurship and Corporate Renewal; and
Entrepreneurship for Engineers at the University of Illinois at Urbana-Champaign.
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