Bang College of Business (BCB)
Fall Semester, 2013
Course Syllabus for
FIN 2105 Business Microeconomics
(1) Basic Information
Course Code and Title: FIN 2105 Business Microeconomics
Course Meeting Time and Place:
Monday, Wednesday, Friday: Section 1 at 10:00 -10:50 in # 116 N/B
Section 2 at 11:00 -12:00 in # 116 N/B
Tuesday, Thursday:
Section 3 at 13:00 – 14:15 in #.116 N/B.
Course Credit: Three (3) credits.
Instructor Information:
Instructor: Gulnara B.Moldasheva, Ph.D
Office: Room #344, Dostyk Building.
Phone: 2704440 Ext 2134
E-mail : mgulnara@kimep.kz.
(2) Instructor Availability
Office Hours: 14:00 – 16:00, Monday, Wednesday
Additional hours will be available by appointments.
(3) Course Overview
Business Microeconomics is an introductory undergraduate course that teaches the fundamentals
of microeconomics. At BCB of KU, this is the first course that undergraduates take in
economics. For some, it may be the only course they take in the subject, and 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.
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This course begins with an introduction to economics, to the economizing problem, supply and
demand and the basic forces that determine 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 introduces some of
the more advanced topics that can be analyzed using microeconomic theory. These include
international trade, the impact of uncertainty on consumer behavior, the operation of capital
markets, equity vs. efficiency trade-offs in economic policy and social insurance.
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.
Business Microeconomics is a required course that examines the organization and operation of
the economic system, with emphasis on microeconomics as it applies to Western style
economics, and to Kazakh and Central Asia Economics. The course will provide a study of the
business forces affecting the modern theory of the firm, public choice theory, and information
and uncertainty using the familiar core ideas and tools. It will explore and analyze the value of
market-oriented reforms and deregulation under perfect and imperfect competition to promote
economic welfare. This course helps to students to evaluate these policies.
(4) Learning Objectives
The main parts of the course are:
1.The Economic Problem
2.How markets work
3.Households’ Choice
4.Firms and Markets
5.Market Failure and Government
6.Factor Markets, Inequality
7.The Global Economy concepts
After completing this course, students should have developed a range of skills enabling them to
understand economic concepts and use those concepts to analyze specific questions.
By the end of this course, students should be able to:
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Understand consumer behavior.
Understand firm behavior.
Analyze different types of market structures (monopoly, oligopoly and a competitive
market).
Understand how to apply economic principles to a range of policy questions.
Students should also have the skills needed to:
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Use supply and demand diagrams to analyze the impact of overall changes in supply and
demand on price and quantity.
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.
Understand the consumer's labor supply decision.
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Solve a firm's cost minimization problem mathematically and graphically.
Analyze the behavior of firms in a perfectly competitive market in the short-run and the
long run.
Calculate producer and consumer surplus.
Analyze the behavior of firms in a monopoly or oligopoly, and calculate the resulting
changes in producer or consumer surplus.
Understand consumer behavior under uncertainty.
Use economic tools to analyze economic policies.
Course Components and Requirements
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Assigned readings
Lectures
Tutorials
Four Home problem sets
Two midterm exams
Final Exam
(5) Relationship of Course and Program
Pre-requisites: This course will include some basic uni-variate calculus material.
There are no other prerequisites.
(6) Teaching Methodology
In a typical session, the instructor will lecture on the topics/materials first, followed by
questions and/or class discussions. Students are expected to learn the class contents by
reading assigned text first and solving, if possible, assigned problems and case studies
before each lecture. In addition to lecturing, class discussions are strongly encouraged.
Special chapter assignments are required. Please note that students may choose to do
class assignments and case studies individually or by a group of 3-5 students who will
receive the same (group) score for the same assignment.
(7) Assessment Scheme
A student’s learning outcomes and final grades will be assessed according to his/her
performance in the following areas:
(1) You should read assigned chapters and do selected exercises before the class. Most
sessions will start with short discussion about the day's topic. The assignments should be
done in groups or individually.
Tutorial (In- class) and Home problems for 20% points: Each home
assignment/problem’s set will be for 5% points, but may vary in accordance with the
number of problems assigned. In- class tutorial problems solutions by students will be
scored by bonuses on special policy. No late assignments will be accepted. Home
Problem’s set assignments/problems should be fulfilled in your Notebook or in A-4
format sheets, steps or sequence in solutions must be logically demonstrated, and final
answer should be underlined. Each assignment/problem set must be handed in at the
beginning of a class.
(2) two mid-term examinations for 15% points each . No make-up mid-term tests will be
allowed except in extreme circumstances.
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(3) Class attendance for 10% ( point): Each student will receive 5%( points) of the total
assessment for attending first half of the classes, and next 5%( points) of the total
assessment for attending the next classes. The 5% class points will be reduced by 1 if a
student misses one entire tutorial class, and reduced by 1 for late coming or earlier
leaving of a class.
(4) The final examination will be for 40% (points): The final examination will be
comprehensive, and will be conducted during the final examination session. Midterm and
final exams consist of MCQ, economic problems that must be solved using different styles
or models, and Essay’s questions. No make-up exam will be given.
(8) Suggestions for Work:
I strongly recommend your complete the readings before class. Group work on problem
sets is allowed and is encouraged. However, it is important that each person in a group
achieve an understanding of the material. Each person within a group must sign his
homework, and please indicate the names of your colleagues on the assignment with
whom you have collaborated.
The sum of the above assessment should equal to 100% or 100 class points, and a student’s total
points will determine his/her final class grade ( see the following table):
Activities
Class
Percent to the
points
total assessment
Continuous assessment or
Assessment during the term (60%)
Mid-term
30
2 x 15% = 30%
Examinations
Tutorial ( In- class
20
20%
and Four Home
Problems Set)
Assignments and/or
problems
Class attendance and
10
2 x 5% = 10%
participation
Subtotal
60
60%
Final Assessment (40%)
Final Exam
40
40%
Total
100
100%
Student hours required
to complete the tasks
20
60
3
60 hours
30 hours
90 hours
(8) Grading Scale
Letter grades for the course will follow the same standards as specified in the 2007 – 2008
Catalog. See the following table for grading scale:
Grade quality
A+
A
AB+
Numerical scale
Or percentile
90 - 100
85 - 89
80 - 84
77 - 79
Equivalent class points
90 - 100
85 - 89
80 - 84
77 - 79
4
B
BC+
C
CD+
D
DF
73 - 76
70 - 72
67 - 69
63 - 66
60 - 62
57 - 59
53 - 56
50 - 52
Below 50
73 - 76
70 - 72
67 - 69
63 - 66
60 - 62
57 - 59
53 - 56
50 - 52
Below 50
(9) Course Policies and Instructor’s Expectations of Students
The instructor has the following course policies and expectations. First, KIMEP strives for
excellence and therefore, the instructor’s expectation of students in this course is very high but is
realistic and attainable. It is expected that students should observe the honor codes in this class.
Secondly, students are required to attend and to be on time for all classes. Mobile phones and
other electronic devices that could disrupt class must be turned off upon entering the classroom.
Finally, academic dishonesty is considered a serious offense and is forbidden.
For feedback, problems, or to report dead links please e-mail mgulnara@kimep.kz
(10) Tentative Schedule
Sessions
Class activities, key dates, etc.
Part 1: INTRODUCTION
Sessions 1-2
INTRODUCTION
1. What Is Economics?
2. The Economic Problem
Part 2. HOW MARKETS WORK
Session 3
3.Demand and Supply
Chapter & assignments
Estimated
student time*
Reading: MP9e: Ch .1; Ch 2;
CFO9e:Ch:1,2
End of chapters problems and
review questions
12 hours
Reading: MP9e: Ch .3;
CFO9e:Ch:3,4
6 hours
End of chapters problems and
review questions
Session 4
4. Elasticity
Reading: MP9e: Ch .4;
CFO9e:Ch:5
6 hours
End of chapters problems and
review questions
Part 3: HOUSHOLDS”CHOICE
Session 5
5. Utility and Demand
Reading: MP9e: Ch .8,9;
CFO9e:Ch:6
Mid-term Examination #1
Topics include chapters of MP,
9e:Ch:1,2,3,4,8,9
Part 4. FIRMS AND MARKETS
End of chapters problems and
review questions
Sessions 6-8
Reading: MP9e:
6 hours
18hours
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6. Organizing Production
7.Output and Costs
8.Perfect Competition
Ch110,11,12:
CFO9e:Ch:7,8,9,12
End of chapters problems and
review questions
Sessions 9-11
9.Monopoly
10. Monopolistic Competition and
Oligopoly
11.Regulation and Antitrust
Reading: MP9e: Ch.13,14,15:
CFO9e:Ch:13,14,15
12 hours
End of chapters problems and
review questions
Mid-term Examination # 2
Topics include chapters of MP,9e:
Ch:10,11,12,13,14,15
Part 5. MARKET FAILURE AND GOVERNMENT
Sessions 12
12.Public Goods and common
Resources
Reading: MP9e: Ch17:
CFO9e:Ch:16
18 hours
End of chapters problems and
review questions
Part 6. FACTOR MARKETS<INEQALITY AND UNCERTAINTY
Session 13
13.Economic Inequality
Reading: MP9e: Ch .19;
CFO9e:Ch:18
6 hours
End of chapters problems and
review questions
Part 7. THE GLOBAL ECONOMY
Session 14
14. Trading with the World
Final examination topics* include
chapters of MP9e;1-17,
CFO9e:Ch:1-20
Reading: MP7e: Ch .20;
Problems:1-10
CFO9e:Ch:20
6 hours
Preparing for final 20 hours
Total hours required by students in studying,
32 hours
90 hours
preparing, and completing assignments
*For each classroom hour, students are expected to spend two additional hours in our-of-class work or
study.
(11) Instructional Resources
Required textbooks:
1. Microeconomics by Michael Parkin, University of Western Ontario
9th –Global Edition, Publisher: Pearson, Copyright: 2010, ISBN-13-978-0-32161005-8.
( in the tentative class schedule is noted as MP9e)
2. Principles of Microeconomics by Karl E. Case, Ray C. Fair and Sharon M.
Oster,9th Edition, Pearson International Edition, Copyright: 2010, ISBN-13-978-013-504079-9.
( in the tentative class schedule is noted as CFO9e)
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Additional Readings:
Any available textbooks on Economics or Microeconomics.
The course will also cover a selection of additional articles from the “Economist”, which will be
distributed during the classes. Most articles will be provided by me or can be borrowed and
copied from Library.
Rules for Exams:
1. Place your bags and clothes on the designated area – my desk.
2. Come to Exam Room on time. If you come 10 minutes late – 0 points for the exam.
3. Switch off mobile phones, car alarms.
4. Use own calculator, not mobile phone.
5. The exam is closed book, closed-notes.
6. Don’t talk, look at others’ paper (-10 %.)
7. Raise your hand if you have a question.
8. You must not to leave classroom until exam ends.
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