Kazakhstan Institute of Management, Economics and Strategic Research Bang College of Business (BCB) Fall Semester, 2011 Course

Syllabus for

FIN 2105 Business Microeconomics

1. Basic Information Course Code and Title: FIN 2105 Business Microeconomics Course Meeting Time and Place: Monday, Wednesday, Friday - 09:00-09:50 in Hall#207/Valichanov Building Course Credit: Three (3) credits. Instructor Information: Instructor: Sholpan Gaisina, Ph.D. Office: Room #342 , Dostyk Building. Phone: 2172 E-mail: gaisina@kimep.kz. 2. Instructor Availability (At least 2 hours) Office Hours: Tuesdays and Thursdays: 13:00 to 14:30 or by appointment Location: Room #342 /Dostyk Building 3. Instructional Resources Required Textbook Parkin Michael, 2010, Microeconomics, University of Western Ontario 9th Global Edition, Publisher: Pearson, Copyright: 2010, ISBN-13-978-0-321-61005-8. Additional Readings: Mankiw, N. Gregory, 1997, Principles of microeconomics, Fort Worth, TX : Dryden Press, ISBN- 9780030245022 ( 978-0-03-024502-2 ) Mankiw, N. Gregory, 2001, Principles of economics, 2nd ed. Fort Worth, TX : Harcourt College Publishers, ISBN -9780030259517 ( 978-0-03-025951-7 ) 4. Course Description/Overview The purpose of Microeconomics is to provide students a thorough understanding of the principles of economics. The course topics focus on microeconomic issues and problems, such as competition and monopoly, pricing, consumer demand, and producer supply. We will study functions of individual decision makers, both consumers and producers, functions of product markets, including the study of factor markets and the role of government in making out economy less or more efficient. We will consider the following concepts: scarcity, opportunity costs and marginal cost, production possibilities, specialization and comparative advantage, the nature and functions of product market, supply and demand, models of consumer choice, firm production, costs, revenues, product pricing and outputs, factor markets, efficiency, equity, and

the role of government. We will look at market failures such as imperfect competition (monopoly and oligopoly) and externalities. 5. Learning objectives Students will be able to understand: basic economic principles and concepts: scarcity, choice and opportunity cost, PPF, comparative advantage, specialization, and trade the differences between various types of market structures efficiency and welfare optimality of perfectly and imperfectly competitive markets the effects of externalities and public goods on efficiency government policies aimed at improving welfare. Students will learn: to apply principles of supply and demand to apply the method used to various topics discussed under course description provide in-depth, typical examples to each of the concepts and models to analyse a whole range of economic problems VALUES AND ATTITUDES: Students practice KIMEP Core Values Academic honesty Respect for peers and instructors Teaching Methodology The format of the course is basically lectures but also includes homework assignments and discussions Assessment Scheme Continuous Assessment Homework assignments Quick quizzes Mid-term Exams Final Assessment Examination TOTAL 60% 20% 10% 30 % 40% 40% 100%

FINAL CLASS GRADE: 0.2*average homework score + 0.1*average five-min quiz score + 0.3*Midterm score + 0.4*Final exam score

ASSESSMENT IN DETAIL (10%) Class Participation will be checked by means of quick quizzes at the beginning of the class. (20%) Homework assigned must be submitted in due time. (30%) Mid- term examinations will consist totally of multiple-choice questions. Each exam takes 50 minutes with 25 multiple- choice questions. (40%) Final Examination will be close-book and of two or three hour duration, and will include both review questions and multiple-choice questions. 8. Grading Scale
Letter grades for the course will follow the same standards as specified in the Catalog. See the following table for grading scale:

Letter grade A+ A AB+ B BC+ C CD+ D DF

Numerical scale or percentile 90-100 85-89 80-84 77-79 73-76 70-72 67-69 63-66 60-62 57-59 53-56 50-52 Below 50

9. Course Policies and Instructors expectations of students I encourage class discussion, but it has to be about economics, and shared with the rest of the class. Any student who disrupts class or is disrespectful may be barred from class or dropped from the course. Students must attend 80% of the classes and those who are more than five minutes late will not be allowed to go through a quiz. If you are unavoidably late to class, enter quietly and discreetly. Academic honesty: We have a zero tolerance policy for academic dishonesty Cell phones: should be turned off at the beginning of the class, or put it on vibrate or silent mode (in case of emergency).

Cheating or plagiarism may result in an F in the course and/or expulsion from the class. Information dissemination: Information regarding this course and assignments will be given by the instructor during the class or can be found on the L-drive. No checking E-mails or surfing the Internet during the class. Students are also expected to check their Umails. Enrollment in the course constitutes an agreement with the terms and requirements in this syllabus. Attendance: Regular class attendance is expected, and poor attendance may reduce a students class participation grade. Students are expected to submit their written notices to the office or the instructor for their absence before class. Late assignments/Quizzes: Late assignments will not be accepted. Quick quizzes will not be made-up. Rules for Exams: 1. Place your bags and clothes on the designated area. 2. Come to Exam Room on time. If you come 10 minutes late 0 points for the exam. 3. Switch off mobile phones, car alarms. 4. Use own calculator, not mobile phone. 5. The exam is closed book, closed-notes. 6. Dont talk, look at others paper (-10%.) 7. Raise your hand if you have a question. 8. You must not to leave classroom until exam ends. 10. Assignment list Homework Due to HW 1 HW 2 HW 3 HW 4 HW 5 HW 6 11. Friday Sep 2 Friday Sep 16 Friday Oct 14 Friday Oct 28 Friday Nov 11 Friday Nov 25 Week 3 5 8 11 13 15

Period-by-period Schedule (Tentative)

Week 1

Chapter Topics, Readings & Activity Chap 1 Chap 2 Introduction to the course.Economic thinking. The economic problem

Estimated student time* 6 hours

2 3 4 5 6

Chap 3 Chap 4 Chap 5 Chap 6 Chap 8

Demand and Supply Elasticity Efficiency and Equity Government actions in markets Utility and demand Mid-term Examination #1, Sep., 23 Topics include chapters MP9e:1-8 Possibilities, preferences, and choices

6 hours 6 hours 6 hours 6 hours 6 hours

Chap 9

6 hours

MID-TERM BREAK 8 Chap 7 Global markets in action 9 Chap 10 10 Chap 11 Chap 12 11 Chap 13 Chap 14 12 Chap 15 13 Chap 16 14 Chapter 18 Organizing production Output and cost Perfect competition Monopoly Monopolistic competition Oligopoly Mid-term Examination #2, Nov., 4, Hall #2 Val.bld. Topics include chapters MP9e: 8-11 Externalities Markets for factor production

6 hours 6 hours 6 hours 6 hours 6 hours 6 hours 6 hours 6 hours 90

15 Chapter 19 Economics inequality Chapter 20 Uncertainty and information Total hours required by students in studying, preparing, and completing assignments Final EXAM (2 to 3 hours, close book)

*For each classroom hour, students are expected to spend two additional hours in out-of-class work or study.