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Microeconomics |
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| Shandong University of Finance and Economics |
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| Course Code： |
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| Total Number of Instruction Hours: 51 |
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| Number of Credits：3 |
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| About this Course |
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| The course covers theoretical foundations for the study of economics including the theory of consumer choice; the economics of production; price and output under perfect and imperfect competition; theory of factor market; theory of exchange; Externality and theory of information economics, etc. Although primarily a theoretical course, the course covers graphical and mathematical applications of the economic theories. |
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| Prerequisites and Preparation |
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| basic algebra and calculus. |
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| Required Textbook |
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| N. Gegory Mankiw. Principles of Economics, 8th.edition, Harvard University, 2016. |
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| Course Goals |
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| By the end of this course, students should be able to: |
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| · Familiar with the basic concepts of microeconomics. |
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| · Master the theory of consumers, theory of firms, theory of market structure, and theory of the economics of public sector. |
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| · Understand other important theories and basic research methods of microeconomics |
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| · Develop the skills of applying the microeconomics theories to analyze the real economic issues. |
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| Course Outline |
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| Chapter 1: Introduction |
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| Chapter 2: The Market Forces of Supply and Demand |
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| Chapter 3: Elasticity and Its Application |
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| Chapter 4: Supply, Demand, and Government Policies |
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| Chapter 5: Consumers, Producers, and the Efficiency of Markets |
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| Chapter 6: Application: The Costs of Taxation |
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| Chapter 7: Application: International Trade |
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| Chapter 8: Externalities |
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| Chapter 9: Public Goods and Common Resources |
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| Chapter 10: The Costs of Production |
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| Chapter 11: Firms in Competitive Markets |
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| Chapter 12: Monopoly |
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| Chapter 13: Monopolistic Competition |
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| Chapter 14: Oligopoly |
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| Chapter 15: The Markets for the Factors of Production |
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| Course Evaluation |
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| The following components will determine the final grade: |
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| Mid-term examination 20% |
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| Final examination 70% |
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| Tutorial attendance, participation, and assignments 10% |
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