Intermediate Microeconomics

COURSE TITLE:     Intermediate Microeconomics

COURSE CODE:     HEC 203

CREDIT POINTS:   15

PREREQUISITES:  HEC 102 Microeconomics Principles

COURSE DESCRIPTION

This course introduces students to intermediate-level microeconomic theory and analysis. The course will help students develop their abilities to analyze, evaluate and synthesize economic information, and make informed and responsible decisions on current economic and social policy/issues. The course will cover in details the concepts of theory of demand, production, costs and marginal analysis, firms and financing and the market structures. 

LEARNING OUTCOMES

On completion of the course students can:

·         Explain the production process and firms’ motives for producing and supplying.

·         Explain consumers’ and firms’ behavior.

·         Explain the advantages and limits of economic theory

·         Apply economic theory to diverse real-world situations

·         Analyse economic problems and prescribe solutions

·         Identify the different market structures and know their characteristics.

·         Explain how firms and industries behave under the different market structures.

·         Explain firms and how they are financed.

·         Describe model economic situations in a logical, rigorous, and precise manner

·         Explain the producer theory.

TEACHING AND LEARNING STRATEGIES

Participative lecture, guest lecture, case studies, exposition, concept development, group discussions and presentation, interest-based research, survey and problem solving.

ASSESSESSMENT

Ongoing assessment (assignments, projects, tests, quizzes, class attendance & Participation): 50%

Examination: 50 %

WEEK

COURSE TEACHING TOPICS

ASSESSABLE TASKS

1

Market

 

2

Budget Constraint

 

3

Preference

 

4

Utility

Test # 1:                15%

5

Choice

 

6

Demand

Assignment:       20%

7

Consumer Surplus

 

8

Market Demand

Test # 2:                15%

9

Profit Maximization

 

10

Cost Maximization

 

11

Externalities

 

12

Game Theory

 

STUDY BREAK

EXAM     50%

 

EVALUATION

Evaluation will be formative and summative. Evaluation strategies include observation of student progress, oral questioning or written questionnaire. Findings of the evaluation will be used to make decisions for ongoing improvement and as a measure of ascertaining quality.

 

REFERENCES

Baumol, W.J and Blinder, A.S (1994) Economic Principles and Policy, 6th Edition, Harcourt Brace: Australia

Hal R Varian (2010) Intermediate Microeconomics, A Modern Approach, USA

Mickleburgh, A (1992) Economics for the Developing Nation, Book One, Dellasta: Australia

Mickleburgh, A (1992) Economics for the Developing Nation, Book Two, Dellasta: Australia

Nicholson, Walter. Microeconomics Theory, Basic Principles and Extensions, Dryden, Forth Worth. (Intermediate Level)

CONTACT HOURS

There will be 3 contact hours per week

Lectures: 1 hour

Tutorials: 2 hours                                                                                                                                    

LECTURE & TUTORIAL TIME SCHEDUELS

Sessions

Program

L&T Day

Tutorial Time

Venue

Lecture

BBE & BTA

Tuesday

3 – 4 pm

MSA

Tutorial 1

BBE

Friday

9– 10 am

R1

Tutorial 2

BTA

Friday

12 – 1pm

R1

Consultation Times

BBE & BTA

Monday

1 – 3pm

R64

 

Tuesday

9 – 11 am


Course Facilitator: Ms. Kinagita YASI