PURPOSE

This course covers how producers and consumers, acting through the market, determine the prices and outputs of goods and the allocation and income of productive resources. The course is divided into three parts-theory of the consumer, theory of the firm, and theory of markets.

 

LEARNING OUTCOMES

 

Successful completion of the course will provide students with an advanced understanding of microeconomics topics, including:

  • Consumer Theory (including preferences, utility curves, and utility maximization)
  • Demand (including elasticities) Supply, and equilibrium conditions
  • Theory of the firm, including production, cost curves, perfect competition, and monopolies · Profit maximization techniques
  • Price discrimination and game theory applications
  • Capital (including stocks, bonds, diversification, and investing)

 

 

LEARNING ACTIVITIES

 

I have adopted an online textbook through Aplia that you will be able to purchase the right to use online. This is not just a textbook, but a nice, succinct set of clear readings accompanied by many videos, and a large number of interactive practice tools and graded problem sets.

 

Participation in weekly discussion does not require you to participate at specific times during each week’s unit (otherwise known as “synchronous”). It does require you to actively participate on several different days minimally throughout the week’s unit. A standard recommendation is to login at least twice per week to check announcements, review and respond to discussion threads, and examine online materials. The actual length of time devoted toward each weekly unit varies depending on the course activities.

 

RECOMMENDED BOOK

 

Schotter.  Microeconomics:  A Modern Approach.

 

 

Methods and Criteria for Evaluation: 

There will be 30 points provided for timely completion of various online assignments, written assignments worth 30 points, a timed midterm worth 15 points, and a timed final exam worth 25 points.

 

 

  1. PLAN FOR FORMATIVE ASSESSMENT

 

The summative evaluation, in the form of a letter grade, will be based on the formative assessment and the final exam. In regard to the latter, the exam will be comprehensive and students will be responsible for all the topics covered the course.

 

 

 

Faculty: Business &Economics.

Department: Economics.

Grade: Undergraduate.

Majors: Business.

Study Fileds: Economics.

Course Year: 3.

Course Program: ESC.

Scheduele:

Instructor: Aaron Johnson

Credits: 4

Prerequisite: Introduction to Macroeconomics, senior status