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MD COBECON Syllabus

This document provides the course syllabus for an Introduction to Microeconomics class. It outlines the course details including the school, department, instructor, term, and learning outcomes. The course aims to help students develop an economic mindset to analyze real-world problems. Key topics covered include consumer choice, production costs, and market structures. Student performance will be evaluated through group presentations, exams, a case analysis report, and class participation.
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0% found this document useful (0 votes)
391 views7 pages

MD COBECON Syllabus

This document provides the course syllabus for an Introduction to Microeconomics class. It outlines the course details including the school, department, instructor, term, and learning outcomes. The course aims to help students develop an economic mindset to analyze real-world problems. Key topics covered include consumer choice, production costs, and market structures. Student performance will be evaluated through group presentations, exams, a case analysis report, and class participation.
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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ECONOMICS DEPARTMENT

COURSE SYLLABUS

College: School of Economics


Department: Economics
Course Code: Introduction to Microeconomics (COBECON)
Pre-Requisites to: None
Term/Time/Room: Term 2 AY19-20/ TH 11:00 to 12:30 L204; 12:45 to 1415 LS216
Instructor: Ms. Maria Fe Carmen L. Dabbay
Consultation: TH – scheduled upon request
Email: [email protected]

COURSE DESCRIPTION:
This is an introductory course in economic analysis at the undergraduate level. Students are expected to develop a
mindset that connects and applies economic theories and concepts to real-life individual, national and international
problems and issues. It focuses on how households and firms interact, behave and decide in an economy. This
course deals with consumer choice, theory of production and cost, firm behavior under different market structures
and market failures.

COURSE LEARNING OUTCOMES:

Course Learning Outcomes (LOs):


School of Economics Programme
On the completion of the course, the student is expected to be able to
Learning Outcomes (PLOs)
do the following:

LO 1: Explain in non-technical terminologies the intuition behind the


pricing mechanism in competitive (P=MC) and imperfectly competitive
markets (P ≠ MC)

LO 2: Describe and provide examples of the factors affecting market


Intellectually Inquisitive demand from the perspective of the consumer and factors affecting
(Knowledge): Describe key facts and market supply from the perspective of the firm, and how such factors
issues about the Philippine and affect the behavior of different market structures
ASEAN+X economies and markets,
and explain how basic indicators are LO 3: Describe the nature of market failures arising from imperfect
formulated competition, imperfect information, externalities, and public goods, and
how they affect consumer and producer welfare using real-world
examples

LO 4: Discuss and assess efficiency and equity implications of market


interference, including government policy
LO 5: Apply:
1. the concepts of choice and opportunity cost to real-world
situations that involve scarcity and tradeoffs (i.e. use a production
possibility frontier (PPF) to illustrate feasible and infeasible
Technically Proficient (Skills): Use consumption possibilities, efficient use of resources, and
tables, graphs, and algebra as primary increasing opportunity costs)
analytical tools
2. the concepts of comparative advantage, specialization, and
exchange to analyze basic resource allocation issues
Globally Competitive (Skills):
Transition from high school work and LO 6: Explain how equilibrium price and quantity are determined in
habits to become avid readers, clear both competitive and imperfectly competitive markets using data,
writers, and quick synthesizers of graphical analysis, and mathematical modeling
college-level material
LO 7: Perform demand and supply analysis to analyze the impact of
economic events on markets using data and graphical analysis

1
LO 8: Demonstrate ability to measure consumer’s utility using
different tools (i.e. willingness to pay, happiness surveys, etc.)

LO 9: Analyze firms’ decision-making/strategies based on different


types of costs incurred (i.e. fixed costs, variable costs)

LO 10: Employ graphical and mathematical tools to model consumer


and producer welfare

LO 11: Compare and contrast market outcomes under different market


structures and perform basic analyses of how exogenous shocks
(including policy changes) affect supply, demand, prices, and welfare
LO 12: Develop an “economic thought process” that considers human
actions and interactions from the perspective of choices being made by
Agent of Positive Social Change individuals who continually compare expected benefits and foregone
(Behavior): Consistently exhibit self- opportunities (or “pros” and “cons”)
regulation, valuing other people’s
time LO 13: Exhibit willingness to work well within a team, to be open-
minded and receptive to others’ insights and constructive feedback, and
to develop initiative

COURSE ASSESSMENTS:

Required Outputs Learning Outcomes Grading System


Group Case Study + Business Issue Presentation 1 - 13 15%
Exams 1 - 12 30%
Final Case Analysis Written Report 1-13 35%
Graded Class Participation/ Rendition 1-12 20%
Total 100%
Passing Mark 60%

Grade Scale:
96 ≤ grade ≤ 100 4.0 72 ≤ grade ≤ 77.9… 2.0
90 ≤ grade ≤ 95.9… 3.5 66 ≤ grade ≤ 71.9… 1.5
84 ≤ grade ≤ 89.9… 3.0 60 ≤ grade ≤ 65.9… 1.0
78 ≤ grade ≤ 83.9… 2.5 grade < 60 0.0

RUBRIC FOR ASSESSMENT:

Oral Presentations
Exemplary Satisfactory Developing Unacceptable
Criteria
3.5 to 4.0 2.5 to 3.0 1.0 to 2.0 0.0
Knowledge and Arguments are well- Arguments Arguments Arguments
reasoning informed and based on include evidence but are pat or “lay”, driven are ill-informed,
fresh compelling evidence, are still driven by by motherhood incoherent,
argued logically, and generalities or statements, sentiments, suggesting
founded on correctly uninformed opinions or outdated facts rather very little
applied economic and emotions, use of than by current interest or
principles economic principles is evidence and sound preparation
present but may not be economic principles
deployed as effectively

2
Communications Speech contains almost no Speech contains few Speech contains several Speech contains
errors in grammar or errors in grammar or major errors in too many
usage; uses pace and usage, could improve grammar or usage; major errors in
modulation well, pace and modulation, demeanor might be grammar
incorporates humor and as well as a bit more inappropriate for and usage,
personality personality and/or occasion, not quite recommended
humor university-level for bridging
standard coursework in
communication

Case Analysis Written Report


Exemplary Satisfactory Developing Unacceptable
Criteria
3.5 to 4.0 2.5 to 3.0 1.0 to 2.0 0.0
Answered the
Answered the Answered the
problems/cases using Answered the
problems/cases using problems/cases using
Knowledge economic principles problems/cases
economic principles economic principles
and learned from the unit incorrectly with
learned from the unit but learned from the units
Understanding appropriately and no economic
with some errors that need but several errors that
correctly, with original principles used
to be addressed need to be addressed
insight.
Used data, research
Used data, relevant Did not use data,
Used data, substantial and graphs with
research and graphs with research and
research and graphs several items being
some items being unclear graphs to
Technical clearly and correctly to unclear that need to be
that need to be improved support
Proficiency support solutions and improved to support
to support solutions and solutions and
answers to given solutions and answers
answers to given answers to given
problems/cases to given
problems/cases problems/cases
problems/cases

LEARNING PLAN AND SCHEDULE:

Learning Outcomes Topic(s) Week No. Learning Activities


LO12, LO13 Part I. Introduction to Economics 1-2 Lecture and Discussion

Studying business economics

LO1, LO2, LO3, LO4, Part II. Demand and Supply 3-8 Read Chapters 3, 4, 5, 6
LO5, LO6, LO7, LO8, Lecture and Discussion
LO12, LO13 Consumer and market demand Case Study Analysis
Consumer behavior: theory and applications Small Group Discussions
Supply, costs and profits
Firm’s objectives and behavior

EXAM NO. 1
Part III. Markets and Prices 9 - 11 Read Chapters 7, 8, 9
LO1, LO2, LO6, LO7, Market Structures Lecture and Discussion
LO9, LO10, L11, Conduct and Performance Case Study Analysis
LO12, LO13 Pricing in theory and practice Small Group Discussions

EXAM NO. 2
LO3, LO4, LO12, Part IV. Welfare Economics 12 - 13 Read Chapter 14
LO13 Business, government and the natural Lecture and Discussion
environment Case Study Analysis
Small Group Discussion
FINAL CASE ANALYSIS WRITTEN REPORT

3
Please be guided by our schedule for the term as follows:

Week Study Time Tuesday Thursday


1 Classroom Jan 14 Jan 16
Session
Syllabus and Classroom Policies Lecture and Discussion
Set groupings and assigned tasks Studying Business Economics
(Chapter 1)
Own Time Read and understand Chapter 1

2 Classroom Jan 21 Jan 23


Session
Lecture and Discussion Case Study
Studying Business Economics
(Chapter 1)

Own Time Read and understand Chapter 3

3 Classroom Jan 28 Jan 30


Session
Lecture and Discussion Lecture and Discussion
Rendition Rendition
Consumer and Market Demand Consumer and Market Demand
(Chapter 3) (Chapter 3)

Own Time Read and understand Chapter 3

4 Classroom Feb 4 Feb 6


Session
Lecture and Discussion Lecture and Discussion
Rendition Rendition
Consumer behavior: theory and Consumer behavior: theory and applications
applications (Chapter 4)
(Chapter 4)

Own Time Read and understand Chapter 4

5 Classroom Feb 11 Feb 13


Session
Lecture and Discussion Group 1 Presentation: Chapter 3 Case Study
Rendition + Current Business Issue
Consumer behavior: theory and
applications Group 2 Presentation: Chapter 4 Case Study
(Chapter 4) + Current Business Issue

Own Time Review for Exam No. 1


Read and understand Chapter 5

6 Classroom Feb 18 Feb 20


Session
EXAM NO. 1 Lecture and Discussion
Rendition
Supply, costs and profits
(Chapter 5)

Own Time Read and understand Chapter 5

4
Week Study Time Tuesday Thursday

7 Classroom Feb 25 Feb 27


Session
HOLIDAY Lecture and Discussion
Rendition
Supply, costs and profits
(Chapter 5)

Own Time Read and understand Chapter 6

8 Classroom Mar 3 Mar 5


Session
Lecture and Discussion Group 3 Presentation: Chapter 5 Case Study
Rendition + Current Business Issue
Firm’s objectives and behavior
(Chapter 6) Group 4 Presentation: Chapter 6 Case Study
+ Current Business Issue
Consultation
Own Time Read and understand Chapter 7

9 Classroom Mar 10 Mar 12


Session
Lecture and Discussion Lecture and Discussion
Rendition Rendition
Market Structures Market Structures
(Chapter 7) (Chapter 7)
Consultation

Own Time Read and understand Chapter 8

10 Classroom Mar 17 Mar 19


Session
Lecture and Discussion Group 5 Presentation: Chapter 7 Case Study
Rendition + Current Business Issue
Conduct and Performance
(Chapter 8) Group 6 Presentation: Chapter 8 Case Study
+ Current Business Issue

Own Time Read and understand Chapter 9

11 Classroom Mar 24 Mar 26


Session
Lecture and Discussion Lecture and Discussion
Rendition Rendition
Pricing in theory and practice Pricing in theory and practice
(Chapter 9) (Chapter 9)

Own Time Read and understand Chapter 14

12 Classroom Apr 7 Apr 9


Session
Lecture and Discussion HOLY THURSDAY
Rendition TAKE HOME EXAM NO. 2
Business, government and the natural
environment
(Chapter 14)

5
Week Study Time Tuesday Thursday

Own Time Read and understand Chapter 14


Write final case analysis written report
13 Classroom Apr 14 Apr 16
Session
Group 7 Presentation: Chapter 9 Case Online Consultation
Study + Current Business Issue

Group 8 Presentation: Chapter 14 Case


Study + Current Business Issue

14 APR 21: SUBMISSION OF FINAL CASE ANALYSIS WRITTEN REPORT (via AnimoSpace)

OTHER REQUIREMENTS AND POLICIES:

1. Advanced Readings. Our main reference is the e-book “Economics for Business” by Ian Worthington,
Chris Britton and Andy Rees. I expect you to read the chapters indicated in the learning plan in
advance. This is uploaded in AnimoSpace.

2. Attendance. Be physically and mentally present during our sessions. I will check attendance not
because it is required but because I want to inculcate in you the value of education and respect for your
parents.

3. Submissions. I expect and encourage you to submit required outputs on time. You are already in
College; thus, I see you as mature individuals who know your responsibilities and who are capable of
making sound decisions.

4. Case Analysis + Current Business Issue Presentation. Each chapter contains a case study, a real-
world economic problem to motivate you to understand the topic. The assigned group is expected to
present this in class on the scheduled date in our learning plan. To demonstrate understanding and
learning, the assigned group also presents a current business issue and its recommendation/proposed
solution as “business experts” using data and economic principles learned in the chapter. Each group is
given 20 to 30 minutes for their presentation.

5. Final Case Analysis Written Report. I will give each group a final case to be solved and analyzed
using any of the economic concepts and principles we discussed in class. The guidelines will be
uploaded via AnimoSpace.

6. Graded Class Participation/ Rendition. Each of you will be assigned to a chapter that you need to
substantially understand and master. During my lectures, there will be students scheduled to recite and
help me out with the discussion. I will assign your chapters during the first session of the term.

7. Exams. There will be 2 exams as listed in the learning plan and schedule.

8. Research. Every output you submit or post online (through Canvas) should be backed by research.
Your ideas are built on intuition but you have to prove your claims and analysis through economic
theories and tools.

9. 4th Hour Activities.


a. Join and participate online discussion forums via CANVAS (initiated by faculty-in-charge)
about certain microeconomic issues
b. Attend seminars/conferences related to any topic/s in the learning plan and write a reaction
paper.
c. Read in advance and answer selected unit exercises.

6
10. Electronic Gadgets. You can only use your gadgets if I allow you to do so. Please refrain from using
them for personal purposes.

11. Values and Morals. I do believe that values are more important than intelligence. If you know and
uphold your values and morals, learning and understanding will follow. To be successful in life, it
takes patience, perseverance and respect for self and others. Let us show how true Lasallians should
behave, for God and country.

12. Other class policies. We will observe all policies provided for by the Student Handbook.

REQUIRED AND REFERENCE TEXTS:

Worthington, I., Britton, C. and Rees, A. (2005). Economics for Business (2nd Ed.). Prentice Hall.
Baye, M.R. and Prince, J. (2010) Managerial Economics and Business Strategy. New York: McGraw-Hill Irwin.
Core Economics: https://core-econ.org/the-economy/book/text/0-3-contents.html
Case, K., Fair, R. and Oster, S. (2012). Principles of Economics (10th edition). Singapore: Prentice Hall, Inc.
Mankiw, N.G. (2015). Principles of Economics (7th edition). Toronto: Thomson Nelson.

REFERENCES (FOR FUN/LIGHT READING):

Levitt, S.D., and Dubner, S.J. (2014). Think Like a Freak: The Authors of Freakonomics Offer to Retrain Your Brain.
Toronto: HarperCollins.
Levitt, S.D., and Dubner, S.J. (2005). Freakonomics: A Rogue Economist Explores the Hidden Side of Everything.
New York: William Morrow.

Noted by:

Arlene Inocencio, PhD Marites Tiongco, PhD


________________________________________ _________________________________________
Department Chair Dean

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