Course name:Microeconomics
Course No.: ECH1131001 Credits: 3
Course description
Microeconomics is the basic specialized courses in economical-related majors, and it plays a key role in cultivating the economic and managerial talents. This course introduces the basic concepts and principles of microeconomics, which lays a solid specialty foundation for students. This course also equips students with the analytical framework of economic theory which will do more help in applying theoretical theory to career practice. Through learning the course, students will establish a basic mind-frame with microeconomic analytical thinking and improve their ability to apply the economic theory to analyze the realistic economic phenomena.
Learning outcomes
1. Fully understand the basic concepts and basic principles of microeconomics.
2. Integrate theories with practice and combining them with our country’s economy in practice.
3. Combine quantitative analysis and qualitative analysis methods to solve problems.
4. Use the standard models of microeconomics to analyze the outcome of changes in economic variables.
5. Identify and assess environmental and sustainable considerations in solving the problems in microeconomics.
Relationship to other courses
Microeconomics is a core requirement for all students in the economic management major. Higher Mathematics and Political Economy are the prerequisites for Microeconomics.
Textbook and reading lists
The textbooks for this course are:
Hongye Gao(2014), Microeconomics,(6th Ed.), RenminUniversity of China Publishing House, Beijing.
Robert s. Flatdick , Daniel l. Rubinfeld(2010), Microeconomics,(4th Ed.), TsinghuaUniversity Press, Beijing.
Gregory N. Mankiw(2005), Principles of Microeconomics,(3th Ed.), Higher Education Press, Beijing.
Course assessment
Activities | Weighting |
Homework | 20% |
Final Exam | 80% |
Course schedule
Week | Topic | Test | |
Week 1 | 1.Introduction 2.The fundamentals of Economics | Chapter 1 | |
Week2 | 1.Markets and government in a Modern Economy | Chapter2 | |
Week 3 | 1.Basic elements of supply and demand 2.Equilibrium of supply and demand | Chapter 3 | |
Week 4 | 1.A change of equilibrium 2.Elasticity of demand | Chapter3,4 |
Week5 | 1.Elasticity of supply 2.Application of elasticity | Chapter 4 | |
Week6 | 1.Choice and utility theory 2.Indifference analysis | Chapter5 |
Week 7 | 1.Substitution effect and income effect | Chapter 5 | |
Week 8 | 1.Business organization 2.Analysis of production in the short-run | Chapter6 | |
Week 9 | 1.Analysis of production in the long-run | Chapter 6 | |
Week 10 | 1.Economic analysis of costs 2.Least-cost rule and substitution rule | Chapter7 | |
Week 11 | 1.Economic costs and business accounting 2.Opportunity costs | Chapter7 | |
Week 12 | 1.Supply behavior of the competitive firm 2.Supply behavior of the competitive industries | Chapter8 | |
Week 13 | 1.Special cases of competitive markets 2.Efficiency and equity of competitive markets | Chapter 8 | |
Week 14 | 1.Patterns of imperfect competition 2.Marginal revenue and monopoly | Chapter 9 | |
Week 15 | 1.Behavior of imperfect competitors 2.Innovation and information | Chapter 10 | |
Week 16 | 1.A balance sheet on imperfect competition 2.Economics of risk and uncertainty | Chapter10,11 | |
Week 17 | Game theory | Chapter 11 | |
Week 18 | Final examination | | |