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JOHN CABOT UNIVERSITY
COURSE CODE: "EC 201-9"
COURSE NAME: "Principles of Microeconomics"
SEMESTER & YEAR:
Fall 2019
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SYLLABUS
INSTRUCTOR:
Paola Paiardini
EMAIL: [email protected]
HOURS:
MW 11:30 AM 12:45 PM
TOTAL NO. OF CONTACT HOURS:
45
CREDITS:
3
PREREQUISITES:
Prerequisite: MA 100 or MA 101; Recommended: EN 105
OFFICE HOURS:
by appointment
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COURSE DESCRIPTION:
This course introduces the students to the basic principles of microeconomics and the study of the behavior of individual agents, such as consumers and producers. The first part of the course reviews the determinants of supply and demand, the characteristics of market equilibrium, the concept of social welfare, and the consequences of price controls, taxation, and externalities on social welfare. The second part of the course deals with market theory, with a review of cost concepts and market structures: competition, monopoly, oligopoly, and imperfect competition.
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SUMMARY OF COURSE CONTENT:
Microeconomics focuses on the analysis of economic phenomena from the perspective of consumers and firms. The course will highlight how consumers and producers together determine the prices and quantities of goods available in the marketplace. A special emphasis will be placed on the underlying incentives of consumers to buy products and of firms to produce commodities and services. The course will cover the basic concepts and tools needed to undertake the analysis of those issues that arise from scarcity of resources. The course will also discuss how well the markets perform in allocating goods and services among people, and scarce resources among competing uses. Topics that will be covered include the determinants of demand and supply, market equilibrium, the concept of efficiency, the issue of market failures and government intervention and regulation as well as the study of the cost structure of a typical firm, and its behavior in the marketplace.
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LEARNING OUTCOMES:
On the successful completion of the course, students will be able to:
- Interpret graphs, charts and tables and use them to illustrate basic economic concepts.
- Understand interactions between economic variables.
- Explain how competitive markets organize the allocation of scarce resources and the distribution of goods and services.
- Distinguish between different types of market structures and compare their efficiency.
- Understand costs of productions.
- Critically assess the economic consequences of an economic policy or business strategy.
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Teaching
Weeks
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Indicative
Dates
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Topics
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Required Readings
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Week 1
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02/09/2019
04/09/2019
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Introduction
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Chapter 1
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Week 2
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09/09/2019
12/09/2019
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The market forces of supply and demand
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Chapter 3
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Week 3
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16/09/2019
19/09/2019
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Elasticity and its applications
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Chapter 4
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Week 4
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23/09/2019
25/09/2019
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Elasticity and its applications
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Chapter 4
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Week 5
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30/09/2019
02/10/2019
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Consumer choices
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Chapter 5
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Week 6
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07/10/2019
09/10/2019
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Midterm 1
Consumer choices and firms
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Chapters 5 and 6
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Week 7
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14/10/2019
16/10/2019
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Firms and the efficiency of markets
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Chapters 6 and 7
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Week 8
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21/10/2019
23/10/2019
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The efficiency of markets and government policies
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Chapter 7 and 8
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Week 9
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28/10/2019
30/10/2019
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Government policies
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Chapter 8
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Week 10
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04/11/2019
06/11/2019
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The tax system
Externalities
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Chapter 9
Chapter 11
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Week 11
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11/11/2019
13/11/2019
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Midterm 2
Information an behavioral Economics
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Chapter 12
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Week 12
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18/11/2019
20/11/2019
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Firm behavior and market structure
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Chapters 13 and 14
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Week 13
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25/11/2019
27/11/2019
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Firm behavior and market structure
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Chapters 15 and 16
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Week 14
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02/12/2019
04/12/2019
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Revision for final exam
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TEXTBOOK:
| Book Title | Author | Publisher | ISBN number | Library Call Number | Comments | Format | Local Bookstore | Online Purchase |
| Microeconomics | Mankiw, Taylor | Cangage Learning | ISBN: 9781473725393 | | | | | |
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REQUIRED RESERVED READING:
RECOMMENDED RESERVED READING:
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GRADING POLICY
-ASSESSMENT METHODS:
| Assignment | Guidelines | Weight |
| First Midterm | | 25% |
| Second Midterm | | 25% |
| Final Exam | | 50% |
-ASSESSMENT CRITERIA:
AWork of this quality directly addresses the question or problem raised and provides a coherent argument displaying an extensive knowledge of relevant information or content. This type of work demonstrates the ability to critically evaluate concepts and theory and has an element of novelty and originality. There is clear evidence of a significant amount of reading beyond that required for the course.
BThis is highly competent level of performance and directly addresses the question or problem raised.There is a demonstration of some ability to critically evaluatetheory and concepts and relate them to practice. Discussions reflect the student’s own arguments and are not simply a repetition of standard lecture andreference material. The work does not suffer from any major errors or omissions and provides evidence of reading beyond the required assignments.
CThis is an acceptable level of performance and provides answers that are clear but limited, reflecting the information offered in the lectures and reference readings.
DThis level of performances demonstrates that the student lacks a coherent grasp of the material.Important information is omitted and irrelevant points included.In effect, the student has barely done enough to persuade the instructor that s/he should not fail.
FThis work fails to show any knowledge or understanding of the issues raised in the question. Most of the material in the answer is irrelevant.
-ATTENDANCE REQUIREMENTS:
ATTENDANCE REQUIREMENTS AND EXAMINATION POLICY
You cannot make-up a major exam (midterm or final) without the permission of the Dean’s Office. The Dean’s Office will grant such permission only when the absence was caused by a serious impediment, such as a documented illness, hospitalization or death in the immediate family (in which you must attend the funeral) or other situations of similar gravity. Absences due to other meaningful conflicts, such as job interviews, family celebrations, travel difficulties, student misunderstandings or personal convenience, will not be excused. Students who will be absent from a major exam must notify the Dean’s Office prior to that exam. Absences from class due to the observance of a religious holiday will normally be excused. Individual students who will have to miss class to observe a religious holiday should notify the instructor by the end of the Add/Drop period to make prior arrangements for making up any work that will be missed. The final exam period runs until ____________
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ACADEMIC HONESTY
As stated in the university catalog, any student who commits an act of academic
dishonesty will receive a failing grade on the work in which the dishonesty occurred.
In addition, acts of academic dishonesty, irrespective of the weight of the assignment,
may result in the student receiving a failing grade in the course. Instances of
academic dishonesty will be reported to the Dean of Academic Affairs. A student
who is reported twice for academic dishonesty is subject to summary dismissal from
the University. In such a case, the Academic Council will then make a recommendation
to the President, who will make the final decision.
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STUDENTS WITH LEARNING OR OTHER DISABILITIES
John Cabot University does not discriminate on the basis of disability or handicap.
Students with approved accommodations must inform their professors at the beginning
of the term. Please see the website for the complete policy.
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SCHEDULE
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A detailed syllabus with a weekly schedule of the topics will be provided at the beginning of the course.
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