GISDepartment of Global and Interdisciplinary Studies

This is a course for students who are interested in learning the fundamental concepts and principles in microeconomics; particularly, supply and demand, and how government policies can affect them. This introductory course in microeconomics will be covered in two semesters. Microeconomics I serves as a pre-requisite to Microeconomics II.
In the first half of the semester, we will examine how markets work. In the second half the semester, we will discuss how the public sector can affect markets.

The intention of this course is to integrate theory and application. At the end of the course, students should grasp and be able to discuss fundamental concepts in microeconomics, i.e. factors affecting supply and demand, the effects of the public sector on consumers and producers, as well as fiscal policy.

Will be able to gain “DP 1”, “DP 2”, “DP 3”, and “DP 4”.

英語 / English

At the beginning of class, feedback for the previous class is given using some comments from submitted reaction papers.

Submission of assignments and feedback will be via the Learning Management System.

あり / Yes

なし / No

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。

1[オンライン/online]：Introduction

Introduction to the course (Chapters 1, 2)

2[対面/face to face]：How Markets Work (1)

Market and competition
The demand curve
The supply curve
Equilibrium analysis (Chapter 4)

3[対面/face to face]：How Markets Work (2)

Problem sets and practical applications (Chapter 1 and 4)

4[対面/face to face]：How Markets Work (3)

Demand elasticity
Supply elasticity (Chapter 5)

5[対面/face to face]：Consumers, Producers, and Efficiency of Markets (1)

Consumer surplus
Producer surplus
Market efficiency (Chapter 7)

6[対面/face to face]：Consumers, Producers, and Efficiency of Markets (2)

Problem sets and practical applications (Chapters 5 and 7)

7[対面/face to face]：Review of Class and In-class Written Exam

Review of class and in-class written exam

8[対面/face to face]：Supply, Demand, and Government Policies (1)

Price controls and taxes (Chapter 6)

9[対面/face to face]：Supply, Demand, and Government Policies (2)

Taxes (continued)
(Chapter 8 and 12)

10[対面/face to face]：Public Sector (1)

Externalities (Chapter 10)

11[対面/face to face]：Public Sector (2)

Public goods and common resources (Chapter 11)

12[対面/face to face]：Supply, Demand, and the Public Sector

Problem sets and practical applications (Chapters 6, 8, 10, 11, and 12)

13[対面/face to face]：Discussion and Review

Discussion and review.

14[対面/face to face]：Wrap-up & Final Exam

Review of class and in-class written exam

1. Readings- Students are expected to read the textbook chapters carefully and to prepare for the lecture. Special attention should be paid to understanding the tables and the graphs.
2. Short assignments- Students are at times given assignments to strengthen their understanding of the application of the concepts. Students are expected to hand in their homework in the following class. In case of absence, students should hand in homework during the next class.
3. Case Study Analysis- Students form small groups to make a presentation on a case study based on specific theories or concepts discussed in class. Specific guidelines will be given in class.
Preparatory study and review time for this class are 2 hours each.

Mankiw, Gregory. N. (2015) Principles of Microeconomics, 7th
edition, Cengage Learning.

Other materials will be given by the instructor or shall be announced in class.

【Grading criteria】
Class Participation 25% (Attitude 8%, Assignments 8.5%, Recitation 8.5%)
*The two lowest-graded assignments will not be included in the calculation of the final grade.
Case Study Analysis: 15%
Midterm Exam: 30%
Final Exam: 30%

The lecture schedule may be adjusted depending on the pace of the class or at the discretion of the instructor. Any changes will be announced in class. Submission of assignments and feedback will be via the Learning Management System.

None.

This course requires students to have a good understanding of mathematics and graphic analysis. Students are asked to bring a simple calculator to class.

None