ECONOMICS DEPARTMENT

COURSE SYLLABUS

College: School of Economics

Department: Economics
Course Code: Introduction to Microeconomics (ECONONE)
Pre-requisite: COMMATH
Pre-Requisites to: ECONTWO, LBYECO1
Term/Time/Room: Term 1, AY 17-18 / MW 1100-1230 (C31) and TH 0915-1045
(C32) / A710 (MW) and L209 (TH)
Instructor: Ms. Ailyn A. Shi

COURSE DESCRIPTION:

The course aims to give an understanding and appreciation of the basic theories and concepts in
economics and their application to current national and international economic concerns. The
focus of the course is on the economic activities of individual decision-making units in society,
specifically on households and firms. Consumer choice is examined using demand theory, and an
evaluation of the economic behavior of firms is conducted using the theory of production and
cost. A general understanding of how firms behave under different market structures caps off the
course. Overall, the course outline simplifies the study of consumer and firm behavior into a
comprehensive framework that begins from the choice and decision-making behavior of
consumers and firms and ends at the application of firm market structures.

School of Economics Expected Learning Outcomes (LOs):

Lasallian Graduate Attributes On the completion of the course, the student is expected to be
(ELGAs) able to do the following:

Intellectual Inquisitiveness LO 1: Acquire a general appreciation of the different economic

theories affecting market demand from the perspective of the
market and of individual households
Technical Proficiency
LO 2: Acquire an appreciation of the different economic theories
affecting market supply from the perspective of the firm and of
different market structures.

Agent of Positive Social Change LO 3: Acquire and enhance the ability to work individually and
effectively and still be able to contribute creative ideas for projects
worked out as a group

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 LEARNING OUTCOME REQUIRED OUTPUT DUE DATE

LO 1 and 2: Acquire a
general appreciation of
different economic theories
affecting market demand Conducted after a series of
Seatworks/assignments/exams
from the households major topics covered in class
perspective and those
affecting market supply from
the perspective of the firm

LO 3: Acquire and enhance

the ability to work
individually and effectively
and still be able to contribute
creative ideas for projects
worked out as a group
Group projects (The Distributive
Justice Game; Scrapbook on Conducted after certain major
market structures; Essay on topics covered in class
Economics in Heaven; other
written reports); Problem sets

Rubric for Written Reports

Very Needs
Learning Outcome / Satisfactory
Excellent (90-100) Satisfactory Improvement
Criteria (60-79)
(80-89) (0-59)

Clearly identifies
the main problem Rudimentary
and subsidiary, Clearly problem
embedded or identifies main identification.
Does not clearly
implicit aspects of problem and Identifies main
identify the
the problem. includes some problem but
problem.
Clearly addresses of the subsidiary omits relevant
Identifies an
Problem identification the relationship issues. Some issues. Does not
inappropriate
among subsidiary discussion of identify the
problem or
issues. Identifies relationships relationship
represents the
not only the basics between between
issue inaccurately.
of the issue but also subsidiary different aspects
recognizes subtle issues. or issues within
nuances of the the problem.
issue.

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Continuation: Rubric for Written Reports
Very Needs
Learning Satisfactory
Excellent (90-100) Satisfactory Improvement
Outcome/Criteria (60-79)
(80-89) (0-59)

Uses information Explains why Uses all Uses some

Uses
appropriately, certain information appropriate appropriate
inappropriate
accurately, and is essential to the information information
information
comprehensively solution correctly correctly
Copying error,
Provides the correct
computational
solution for the
error, partial
problem and made
answer for
a general rule about No answer or
problem with
the solution or wrong answer
Answers the problem Correct solution multiple
extended the based upon an
answers, no
solution to a more inappropriate plan
answer
complicated yet
statement,
thorough and
answer labeled
accurate solution
incorrectly
Formulates
Identifies some
Examines conclusions. Fails to draw
conclusions.
conclusions. Uses Recognizes conclusions. Sees
Sees some
reasonable arguments. no arguments.
Analysis and arguments.
judgment. Notices Overlooks
evaluation Identifies some
Discriminates differences. differences.
differences.
rationally. Evaluates data. Repeats data.
Paraphrases
Synthesizes data. Seeks out Omits research.
data.
information.

LEARNING PLAN:
Learning Outcome
LO 1 and 2: Acquire a general
appreciation of different
economic theories affecting
market demand from the
households perspective and
those affecting market supply
from the perspective of the
firm
LO 3: Acquire and enhance the
ability to work individually and
effectively and still be able to
contribute creative ideas for
projects worked out as a group
Learning
Topic(s) Week No.
Activities
Part I: Introduction to Economics 1 and 2 Class discussions;
Short quiz; Game
1. Overview: Definition of and assignment
Economics, Basic Questions in
Economics, Economic
Resources, Economic Goals of a
Nation (Efficiency and Equity),
Branches of Economics,
Scarcity and Choice (Production
Possibilities Frontier)

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LO 1: Acquire a general
appreciation of the different
economic theories affecting
market demand from the
perspective of the market and
individual households
LO 2: Acquire an appreciation
of the different economic
theories affecting market
supply from the perspective of
the firm and of different
market structures
LO 1: Acquire a general
appreciation of the different
economic theories affecting
market demand from the
perspective of the market and
individual households
LO 2: Acquire an appreciation
of the different economic
theories affecting market
supply from the perspective of
the firm and of different
market structures
2. Demand and Supply Analysis: 3-6 Class discussions;
Law of Demand, Demand Problem set; Class
Schedule, Demand Curve; Law exercises
of Supply, Supply Schedule,
Supply Curve; Market
Equilibrium; Price Ceiling and
Price Floors; Tax Effects on
Market Equilibrium; Elasticities
First Long Examination
Part II: Theory of Demand 7-8 Class discussions;
Class exercises
1. Utility and Demand: Cardinal vs
Ordinal Approach, Total Utility,
Marginal Utility, Law of
Diminishing Returns
2. Indifference Curves: Marginal
Rate of Substitution; Budget
Line; Income and Substitution
Effects
Part III: Theory of Production 9 - 10 Class discussions;
Class exercises;
1. Production: Total, Average and Problem set
Marginal Products; Average and
Marginal Products; Isoquants;
Returns to Scale
2. Cost: Concept of Cost, Cost
Curves, Isocosts, Cost
Minimization in the Short Run,
Consumer and Producer Surplus
Second Long Examination
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 LO 2: Acquire an appreciation
of the different economic
theories affecting market
supply from the perspective of
the firm and of different
market structures
LO 3: Acquire and enhance
the ability to work
individually and effectively
and still be able to contribute
creative ideas for projects
worked out as a group
Part IV: Market Structures 11-13 Class discussions;
Scrapbook
1. Perfect Competition: assignment; Essay
Characteristics, Profit- on Economics in
Maximizing Condition; Break- Heaven; Problem
even and Shutdown Points set
2. Monopoly: Characteristics,
Source of Monopoly Power,
Types of Monopolist, Profit-
Maximizing Condition, Social
Welfare and Monopoly
3. Oligopoly: Characteristics,
Collusive vs. Non-Collusive
Oligopoly, Profit Maximizing
Condition
4. Monopolistic Competition:
Characteristics, Profit-
Maximizing Condition

Week of Final Exam

REQUIRED AND REFERENCE TEXTS:

Case, K., Fair, R. and Oster, S. (2012). Principles of Economics (10th edition). Singapore: Prentice
Hall, Inc.
Mankiw, N.G. (2011). Principles of Economics (6th edition). Toronto: Thomson Nelson.
Samuelson, P. and Nordhaus, W. (2010). Economics (19th edition). McGraw-Hill.
Tullao, T. (2009). Elements of Economics. Quezon City: Phoenix Publishing House.

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.

OTHER REQUIREMENTS:

1. Home reading. Students are expected to review the assigned readings (i.e. PowerPoint lectures
and corresponding topics in the reference texts) before they are tackled in class.
2. Class lectures. Lectures expound on the assigned reading materials. Treatment of certain
materials, however, may be different from the text and references. The most difficult materials are
generally covered in class lectures.

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3. Active participation in class discussions. Recitation will be conducted daily in class. Each
student will be asked to record his recitation points on a sheet of yellow pad paper to be submitted
to the professor at the end of each meeting. At the end of the term, the student(s) with the most
number of recitation points garnered will automatically obtain a 4.0 in recitation. All other
students recitation grades for the term will be weighted depending on the raw total score obtained
by the winning student(s).
4. Analytical Problem Sets. Students will be given at least 2 problem sets during the term that tackle
the application of concepts and techniques that have been previously discussed in class or will be
discussed soon. These problem sets are a group effort (maximum of 2 students per group) and
thus, there should only be one set of solutions per group. A single grade will be given for outputs
that are suspected to be copies (in full or in part) of each other. This grade will be equally
divided among the students in the groups suspected to have copied from each other. Each problem
set will be collected at the beginning of the class. Submissions after the first 5 minutes of the
start of the class will not be accepted nor given credit. The solutions should be handwritten on
yellow pad paper (front side only). The submission dates of these problem sets will be announced
in class.
5. Submission of other assignments and projects on time. From time to time, students shall be
assigned group projects and will be tasked to work on assignments individually to supplement
lectures and class discussions. Deadlines for all class requirements will be strictly observed.
Likewise, submissions of these requirements after the first 5 minutes of the start of the class
will not be accepted nor given credit.
6. Written examinations. During the course, there are two long examinations. At the end of the
course, there is a final examination. All questions will involve multiple-choice items, problem
solving (computation), graphing, and/or essay-type items. Fortunately for you, questions in the
problem sets and individual assignments are excellent preparation for the examinations.
Obviously, it is not a good idea to cram before the exam; rather, you should begin reviewing your
problem sets and lecture notes ahead of time to effectively prepare for the examinations. A make-
up for any missed exam will be given, provided that the student submits documentation
indicating that his/her absence is officially approved by the University.
7. Attendance. An attendance sheet that requires your signature will be passed around at the
beginning of every class. Signing on behalf of a classmate or asking someone else to sign for
you constitutes forgery, which is a major offense worthy of suspension or expulsion from the
University.
8. Electronic Gadgets. All cellular phones should be turned off and put away at the start of all
lecture and exam days. iPads (or inferior Android equivalents, jk) are allowed only for browsing of
the lecture notes and e-book versions of the required and reference texts. Violation of this rule will
entail confiscation of the electronic gadget, which you can redeem from the D.O.s office.
9. Academic Honesty. Students are not allowed to open notes, handouts, and books during any
examination. Students are expected to know and abide by the Universitys guidelines on Academic
Honesty (Sections 7.1 to 7.4 and 13.3.1 of the Student Handbook).
10. Policy of respect. In life, I operate on a very simple rule: Treat others the way you want to be
treated. If you wish to chat with your seatmates or horse around inside the classroom, feel free to
do so outside the classroom, so as not to impinge upon the wish of your fellow classmates to learn
productively during my lectures (this is what we call negative externalities in Economics). You
are all college students now (adults, that is); ergo, I will treat you like an adult. Feel free to do

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 whatever you want in my class, but remember that your final grade will always reflect your
performance during the term because I do not adjust grades.
11. The most important rule you need to follow in my class is to have fun learning. I will teach you
how to think like an economist, and how to use and apply economic concepts and terms in your
daily activities (bonus points for wowing your friends by interspersing complicated-sounding
economic terms in your conversations with them). Economics is a difficult subject, yes, but it is
highly interesting and fun. I only require you to open your mind and to approach Economics as a
subject, not with fear or wariness, but with curiosity.

GRADING SYSTEM:
First Long Examination 25% 96 grade 100 4.0
Second Long Examination 25% 90 grade 95.9 3.5
Final Examination 25% 84 grade 89.9 3.0
Problem Sets / Other Assignments / Projects 15% 78 grade 83.9 2.5
Class Recitation 10% 72 grade 77.9 2.0
Total 100% 66 grade 71.9 1.5
NOTE: Passing Mark 60% 60 grade 65.9 1.0
grade < 60 0.0

CONTACT AND CONSULTATION HOURS:

Contact: ailyn.shi@yahoo.com
Office: 2nd floor of L221 (School of Economics Office)
Consultation hours: By appointment. It is best that the student sets up an appointment at least
one day ahead.

Noted by:

________________________________________ _________________________________________
Department Chair Dean