GISDepartment of Global and Interdisciplinary Studies

This is the second part to an introductory course in microeconomics. (See prerequisite below.)
In this semester, we will continue covering fundamental concepts and principles in microeconomics. This time, we will focus on producer and consumer theory and the labor market. In the first half of the semester, we will study firm behavior and market structures. In the second half of the semester, we will discuss consumer theory. The labor market and income determination will also be examined.

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. how different market structures affect producers and consumers and how the labor market works. Students should be able to examine issues related to consumption, production, the labor market, income inequality, and poverty.

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 to the Course
Producer Theory (1)

Introduction to the course
Costs of production (Chapter 13)

2[対面/face to face]：Producer Theory (2)

Firms in competitive markets (Chapter 14)

3[対面/face to face]：Producer Theory (3)

Problem sets and practical applications (Chapters 13 and 14)

4[対面/face to face]：Producer Theory: Firms in Non-competitive Markets (1)

Monopoly (Chapter 15)

5[対面/face to face]：Producer Theory: Firms in Non-competitive Markets (2)

Monopolistic competition (Chapter 16)

6[対面/face to face]：Producer Theory: Firms in Non-competitive Markets (3)

Oligopoly (Chapter 17)

7[対面/face to face]：Producer Theory: Firms in Non-competitive Markets (4)

Problems sets and practical applications (Chapters 15, 16, and 17)

8[対面/face to face]：Review & Mid-term Exam

Review & In-class written exam

9[対面/face to face]：Consumer Theory (1)

Preferences and optimization (Chapter 21)

10[対面/face to face]：Consumer Theory (2)

Solving selected problems and applications in Chapter 21

11[対面/face to face]：Labor Economics (1)

Labor demand and supply
Equilibrium in the labor market (Chapter 18); Determinants of wages
Economics of discrimination (Chapters 19, 20)

12[対面/face to face]：Labor Economics (2)

Problem sets and practical applications (Chapters 18, 19, and 20)

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

Discussion and review

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

Review & 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. Assignments will be presented and discussed in class.
3. Student Group Presentation - Students form groups to make a presentation on current issues relating to Japan’s fiscal situation. Topics may include: Japanese government debt, tax measures, debt service, social security expenditures, or other government expenditures. 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, if any, will be given by the instructor or shall be announced in class.

Assignments and Class Participation: 25%
*The two lowest-graded assignments will not be included in the calculation of the final grade.
Student Group Presentation: 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.

This course requires students to have a good understanding of mathematics and graphic analysis.

Microeconomics I, Understanding Microeconomics or an equivalent introductory course in microeconomics or economics.