BE103/512 THE UNIVERSITY OF HONG KONG FACULTY OF BUSINESS AND ECONOMICS School of Economics and Finance ECON2101 - Microeconomic

Theory
GENERAL INFORMATION ECON2101A and ECON2101B Instructor: Dr. Frances Xu Email: zfxu@hku.hk Office: TBA Phone: TBA Lecture: ECON2101A: Monday 3:30pm - 5:20pm in MW T1, Thursday 3:30pm - 4:20pm in MW T1 ECON2101B: Friday 9:30am - 12:20pm in MB 167 Consultation times: Tutor: Ms. Yu Yatu Grace ECON2101C Instructor: Dr. William Chan Email: wchana@hku.hk Office: Room 931 K K Leung Building Phone: 2859 1055 Lecture: ECON2101C: Tuesday 12:30pm - 1:20pm in MW T4, Friday 12:30pm - 2:20pm in MW T4 Consultation times: Tutor: to be confirmed Pre-requisites: Co-requisites: Mutually exclusive: ECON2211 Microeconomic analysis/ ECON2113 Microeconomic analysis Course Website: Other important details:

COURSE DESCRIPTION Preference, utility and consumer choices; theory of the firm; monopoly, oligopoly and monopolistic competition; welfare economics and market failures; general equilibrium; choices under uncertainty, introduction to game theory; introduction to economics of information. COURSE OBJECTIVES 1. 2. 3. To help students develop a solid background in microeconomic theory To expose students to different fields in microeconomics To acquire the ability to apply microeconomic theory to real world and policy issues and problems

COURSE LEARNING OUTCOMES Course Learning Outcomes Aligned Programme Learning Outcomes

CLO1 Apply the basic analytic framework and methods of microeconomic analysis to systematically solve economic problems CLO2 Offer analytic insights on social, economic and policy issues PLO1, PLO2

PLO1, PLO2, PLO3

COURSE TEACHING AND LEARNING ACTIVITIES Course Teaching and Learning Activities Expected contact hour Study Load (% of study)

T&L1. Lectures T&L2. Tutorials T&L3. Self study

36 hours 12 hours 72 hours

30 10 60

Total Assessment Methods A1. Midterms A2. Final A3. Problem sets Brief Description (Optional)

120 hours

100% Aligned Course Learning Outcomes CLO1, CLO2 CLO1, CLO2 CLO1, CLO2

Weight 40 50 10

Total STANDARDS FOR ASSESSMENT Course Grade Descriptors A+, A, A-

100%

Candidate has consistently demonstrated a thorough grasp of the subject as evidenced by original or exceptionally astute analysis and synthesis.

B+, B, B-

Candidate frequently demonstrated a substantial grasp of the subject.

C+, C, C-

Some of the responses are well organized, clear but with insufficient elaboration.

D+, D

Solutions to questions and problems containing unstructured but relevant observations, and marginally interesting.

Little evidence of basic familiarity with the subject.

Assessment Rubrics for Each Assessment (Please provide us the details in a separate file if the space here is not enough) Answers to Midterm and Final examinations are to be graded in accordance with the standards stated above in course grade descriptors.

COURSE CONTENT AND TENTATIVE TEACHING SCHEDULE Topics that will be covered can include: 1 2 3 The Theory of Consumer Choice and the Demand for Goods Theory of the Firm and the Supply of Goods Equilibrium in the Competitive Product Market

4 5 6 7 8 9 10

Monopoly and Monopsony Monopolistic Competition, Oligopoly, Game Theory The Factor Market General Equilibrium and Economic Efficiency Market Failures: Externalities and Public Goods Uncertainty and Asymmetric Information Social Choice

REQUIRED/RECOMMENDED READINGS & ONLINE MATERIALS (e.g. journals, textbooks, website addresses etc.) Pindyck, Rubinfeld and Koh. Microeconomics: An Asian Perspective. Singapore: Prentice Hall, 2006. Varian, Hal R., Intermediate Microeconomics: A Modern Approach, Seventh Edition. New York, New York: W.W. Norton & Company, Inc., 2005. MEANS/PROCESSES FOR STUDENT FEEDBACK ON COURSE

o o o

conducting mid-term survey in additional to SETL around the end of the semester Online response via Moodle site Others: ________________________ (please specify)

COURSE POLICY (e.g. plagiarism, academic honesty, attendance, etc.)

ADDITIONAL COURSE INFORMATION (e.g. e-learning platforms & materials, penalty for late assignments, etc.)