GBP (Global Business Program)

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ECN300FB-A5536（経済学 / Economics 300）
Principles of Microeconomics

Rika TAKAHASHI

Class code etc
Faculty/Graduate school GBP (Global Business Program)
Attached documents
Year 2023
Class code A5536
Previous Class code
Previous Class title
Term 秋学期授業/Fall
Day/Period 火3/Tue.3
Class Type
Campus 市ヶ谷 / Ichigaya
Classroom name 市外濠‐S303
Grade 2～4
Credit(s) 2
Notes
Open Program
Open Program (Notes)
Global Open Program ○
Interdepartmental class taking system for Academic Achievers
Interdepartmental class taking system for Academic Achievers (Notes)
Class taught by instructors with practical experience
SDGs CP
Urban Design CP
Diversity CP
Learning for the Future CP
Carbon Neutral CP
Chiyoda Campus Consortium
Category 専門教育科目／Business Administration Courses
専門科目／Intermediate/Advanced Courses of Business Administration

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Outline and objectives

This class aims to help with the understanding of basic concepts and analytical methods of microeconomics at the introductory level. It focuses on decision-making of individuals and firms and the allocation of scarce resources in society. Topics are Supply and Demand, Equilibrium, Consumers Behavior, Sellers Behavior, Perfect Competition, The Government in the Economy, Externalities, Monopoly, and Oligopoly. Also, how microeconomics principles are applicable to the real world issues as well as to other academic fields will be discussed.

Goal

By the end of the course, students will be expected to:
(1)Understand key economic models.
(2)Understand key concepts in the textbook.
(3)Acquire basic skills in order to make graphs and mathematical formulas.
(4)Solve problem sets.
(5)Evaluate daily life topics and current economic and business news from the viewpoint of microeconomic theory.

Which item of the diploma policy will be obtained by taking this class?

This course is strongly related to the "DP1-3", "DP2-1" and "DP2-2" diploma policies.

Default language used in class

英語 / English

Method(s)（学期の途中で変更になる場合には、別途提示します。 /If the Method(s) is changed, we will announce the details of any changes. ）

This course consists mainly of lectures and subsequent exercises. After understanding the basic idea of microeconomics, students will solve problems in class. Also, problems will be assigned as homework. Students are required to use the e-learning platform, “MyLab” by Pearson, to do homework. All materials including lecture notes will be posted on Hosei’s class support online system, “Hoppii”. Feedback on in-class exercises will be provided in class. Homework feedback will be given in MyLab.

Active learning in class (Group discussion, Debate.etc.)

あり / Yes

Fieldwork in class

なし / No

Schedule

授業形態/methods of teaching：対面/face to face

※各回の授業形態は予定です。教員の指示に従ってください。

Week 1[オンライン/online]：Introduction

Guidance on syllabus, semester schedule, usage of online materials, and class rules.

Week 2[対面/face to face]：Demand, Supply, and Equilibrium 1

Basic model structure with supply and demand curves.

Week 3[対面/face to face]：Demand, Supply, and Equilibrium 2

Changes in market outcomes, given changes in the demand and supply curves.

Week 4[対面/face to face]：Consumers and Incentives 1

Consumers' decision making and optimization.

Week 5[対面/face to face]：Consumers and Incentives 2

Measurement of consumer surplus and elasticity of demand.

Week 6[対面/face to face]：Producers and Incentives 1

Producers' decision making and optimization.

Week 7[対面/face to face]：Producers and Incentives 2

Measurement of producer surplus and elasticity of supply.

Week 8[対面/face to face]：Perfect Competitio and Invisible Hand 1

Perfectly competitive markets and market efficiency.

Week 9[対面/face to face]：Perfect Competition and Invisible Hand 2

The Invisible Hand leading to efficient resource allocation under perfect competition.

Week 10[対面/face to face]：Government in the Economy: Taxation and Regulation

Effects of taxation and government regulation on market outcomes.

Week 11[対面/face to face]：Market Failures 1: Externalities

Externalities and market inefficiency.

Week 12[対面/face to face]：Market Failures 2: Monopoly

Imperfectly competitive markets and market inefficiency.

Week 13[対面/face to face]：Market Failures 3: Game Theory and Strategic Play

Introduction to Game Theory; firms’ decision making under interdependence.

Week 14[対面/face to face]：Review and Final Exam

Review and Final Exam.

Work to be done outside of class (preparation, etc.)

Students are expected to read the assigned textbook before class and do homework after class. Preparatory study and review time for this class are 2 hours each.

Textbooks

Acemoglu, D., D. Laibson, and J. List, Microeconomics (3rd edition), Pearson.

※　Note that this is different from the textbook and online materials used in previous years.
All students must purchase Pearson’s MyLab, an e-learning platform, to access assignments and the textbook; students who have purchased one-year access to MyLab for other classes in the spring semester of 2023 do not need to purchase it again. Details will be provided in the first lecture.

References

Other supplementary materials will be provided during the semester.

Grading criteria

Class participation: 20%
Homework and exercises: 40%
Final exam: 40%

Changes following student comments

In order to gain practical skills, I will give you more opportunities for exercises.

Equipment student needs to prepare

Students are expected to bring a computer in class to access the online materials.

Others

This course is highly related to Introduction to Japanese Economy and Principles of Macroeconomics. Students are strongly encouraged to take them before or after taking this course.

Upon threat level change

Please note that the teaching approach may vary according to which threat level we are at: at level 1, this course will be held on campus, though at level 2, it will be held online.