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Microeconomics I_Course Outline

The document outlines the course structure for Microeconomics-I at Addis Ababa University, detailing lecture topics, references, and course delivery methods. It includes assessment methods with weight distribution for assignments, quizzes, and final exams, along with strict course policies regarding attendance and academic integrity. Key references for the course are also provided, emphasizing the importance of participation and engagement in learning.

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Haftom Yitbarek
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10 views3 pages

Microeconomics I_Course Outline

The document outlines the course structure for Microeconomics-I at Addis Ababa University, detailing lecture topics, references, and course delivery methods. It includes assessment methods with weight distribution for assignments, quizzes, and final exams, along with strict course policies regarding attendance and academic integrity. Key references for the course are also provided, emphasizing the importance of participation and engagement in learning.

Uploaded by

Haftom Yitbarek
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PDF, TXT or read online on Scribd
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ADDIS ABABA UNIVERSITY

COLLEGE OF BUSINESS AND ECONOMICS

DEPARTMENT OF ECONOMICS

Course Name: Microeconomics-I


Course Code: Econ 2021

Lecture Topic of the lecture Reference


(hours) Materials
Chapter One: Theory of Consumer Behaviour and Demand
1. Consumer Preferences and Choices o A.Koutsoyiannis
1.1. Consumer Preference , PP 13-60.
1.2. Utility o H.S. Agrawal,
2. Approaches to Measure Utility PP 97-260.
2.1. The Cardinal Utility approach
2.1.1. Assumptions of Cardinal Utility theory
2.1.2.Total and Marginal Utility
2.1.3.Law of diminishing marginal Utility (LDMU)
2.1.4.Equilibrium of a consumer
2.1.5.Derivation of the Cardinalist Demand
2.2. The Ordinal Utility Approach
2.2.1. Assumptions of Ordinal Utility approach
2.2.2. Indifference Set, Curve and Map
2.2.3. Properties of Indifference Curves
2.2.4. The Marginal rate of substitution (MRS)
15 hours 2.2.5. Types of Indifference Curves
2.3. The Budget Line or the Price line
2.3.1. Factors Affecting the Budget Line
2.3.1.1. Effects of changes in income
2.3.1.2. Effects of Changes in Price
2.4. Optimum of the Consumer
2.4.1. Effects of Changes in Income and Prices on
Consumer optimum
2.4.1.1. Changes In Income: Income Consumption
Curve and the Engel Curve
2.4.1.2. Changes in Price: Price Consumption Curve
(PCC)
2.4.2. Decomposition of Income and Substitution
Effects(normal, inferior or giffen goods )
2.4.3. Derivation of market demand curve
2.5. Elasticity of demand
Chapter Two: Choice –involving risk and uncertainty

1
2.1. Introduction o Hal R. Varian
2.2. Expected utility o R.S. Pindyck and
4.5 hours 2.3. Risk aversion D.L. Rubinfeld
2.4. Diversification
2.5. Risk spreading
Chapter three: Theory of Production
3.1 Production function o A.Koutsoyiannis
8 hours 3.2. Laws of production , PP 67-92
3.2.1. - The law of variable proportions o H.S. Agrawal ,
3.2.2. - Laws of returns to scale PP 279-292
3.3. Choice of optimal combination
of factors of production
Chapter Four: Theory of Costs
4.1. Short-Run Costs o A.Koutsoyiannis
4.2. Long-Run Costs , PP 105-120
4.3.Derivation of Cost Functions from o H.S. Agrawal ,
5 hours PP 359-368
Production functions
4.4. Dynamic Changes in Costs- the Learning Curve

Chapter Five: Perfect Competition Market


5.1. The Short-Run Equilibrium of the Firm and o A.Koutsoyiannis
Industry , PP 154-163

7.5 hours 5.2. The Long-Run Equilibrium of the Firm and the Industry

5.2.
5.
Chapter Six: Pure Monopoly Market
6.1. Characteristics and source of monopoly o A.Koutsoyiannis
6.2. Short Run and Long-Run Equilibrium , PP 171-189
6.3. Price discrimination o H.S. Agrawal ,
6.4. Multi-Plant Monopolist PP 470-477
8 hours o R.S. Pindyck
6.5. Social Cost of Monopoly Power
and D.L.
Rubinfeld, PP
351-356

Course Delivery Methods


The delivery method shall be student-centered. Students are highly expected to participate in
class works at the middle and end of each session and in group discussions inside and outside of
the class. Specifically the course will be delivered through the following methods:
 Lecture Method
 In-class problem solving
 Group Work
 Assignment

2
Assessment Methods
Student evaluation in this Courseconsist both formative and summative assessments including
quizzes, test and final exam. Marks will be allocated according to the following grading
schedule.

Assessment Method Weight


Assignment(Indiv/group) 20%
Quizzes/Tests (Max of 10% each) 30%
Final Exam 50%
Total 100%

Course Policy
 Late coming is not allowed and no student is allowed to enter after class has started.
 Duplication of assignments is strictly forbidden; it entails serious penalty.
 Assignments are required to be submitted before or on the deadline.
 Cheating during exam sessions results in a minimum of “F “grade while cheating in quizzes
and tests is subjected to a zero mark. All cheating cases will be reported to the department for
further considerations.
 Students should switch off their cell phones while they are in class and must keep their cell phones
switched off during all kinds of exam sessions.
 students must attend 80% of the class for the course. Failure to attend 80% of the class will not allow
the student to sit for the final exam.
 Missing a quiz without convincing evidences will earn the students a grade of zero marks in that
specific quiz

REFRENCES
1. A. Koutsoyiannis, Modern Microeconomics
2. H.S. Agrawal, Principles of Economics, 7th edition.
3. Hal R. Varian, Intermediate Microeconomics: A Modern Approach, Forth Edition
4. C. Ferguson, Microeconomic Theory
5. R.S Pindyck and D.L.Rubinifeld, Microeconomics
6. E. Mansfield, Microeconomics: Theory and Applications
7. Robert H. Frank, Microeconomics and Behavior

* Any other Intermediate Microeconomics textbook can also be used as a supplementary reading
material.

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