Course Outline of Intoroduction to Microeconomics;



School of Business and EconomicsDepartment of EconomicsCourse NameIntroduction to MicroeconomicsCourse Code (Sec)ECO 101 (4, 23)Timing and VenueSec 4: NAC 408 RA 8 am, Sec 23: NAC 408 RA 11.20 amInstructor and department informationInstructor NameNabeel IqbalOfficeNAC 812Office HoursMW (9:30 am – 12.30 pm) & RA (9.30 - 11 am) & by appointment on TuesOffice Phone+880-2- 55668200, Ext: 6115 (In case of emergency: 01711865158)Email Addressnabeel.iqbal@northsouth.eduDepartmentEconomicsRelevant LinksCourse website: nsueco.Course Description:Introduction to Microeconomics (ECO 101) covers the fundamental concepts of economics. The first part of the course covers the basic economic concepts of scarcity, opportunity cost, incentives, specialization, production, trade and the theory of demand and supply and its application. In the second part, we study the concept of elasticity, the behaviour and decision-making of consumers or households (us and our families) and firms or businesses (your possible future employers). In the last part, we study the different types of markets that we might see in an economy or society and how they affect the decision-making of firms or businesses.REQUIRED TEXTBOOK: Economics 9th ed, Roger A. Arnold**You may e-mail me for an e-book of the above text-book. It is available in ‘Resources’ as well.Lesson Plan (tentative):LectureTopicChapter (9thed)1Introduction-2,3What Economics is about?14,5Economic Activities: Producing and Trading26,7Supply and Demand Theory38MID 1: Ch 1, 2 & 39, 10Applications of Supply and Demand Theory411Elasticity1712Consumer Choice: Maximizing Utility1813,14,15Production and Costs1916MID 2: Ch 4, 17, 18 & 1917,18,19Product Markets and Policies: Perfect Competition2020,21Product Markets and Policies: Monopoly2122,23Product Markets and Policies: Monopolistic Competition, Oligopoly and Game Theory2224FINAL EXAM: Ch 20, 21 & 2210Teaching and Learning Strategies:The class discussions will cover the topics in the lecture slides (available on nsueco.). During class, we will try to understand the concepts and ideas using relevant examples from our daily lives and current events. It is better if you take short notes in class.You are encouraged to review the class discussions after each class. Almost all the classes will resume from the end of the previous class. The chapters are inter-connected and the understanding of earlier topics will be important for understanding the topics later. You will be tested on your understanding of the theories and concepts covered in class (i.e. topics on the lecture slides**). Hence, class attendance is very important and you should try your best to understand each and every topic thoroughly. Please do not memorize without understanding.Dates of exams will be posted on the course website at least one week earlier or I will try to send you a SMS through RDS as well. The **lecture slides are available on the course website - **nsueco.. It is better if you print two or four slides per page, otherwise it will be difficult to read the text. If you read the slides carefully with understanding and understand the class discussions, you can easily do well in this course. Please feel free to see me during office hours for help and guidance.Evaluation Criteria (tentative): Attendance5%Quiz (best one out of two)15%Mid Term 125%Mid Term 225%Final30%Teaching and Learning Objectives:Introduce, discuss and facilitate the understanding of the important economic concepts from the chapters listed in the lesson plan (above)Stimulate analytical, conceptual and critical thinking through class discussions and examsFoster an appreciation for the subject of economics by highlighting how the ideas and concepts of this course can be related to our everyday lives and to the society we live inMake-up Policy:In case of unavoidable circumstances or emergencies, make-up exams will be conducted. Make-up exams tend to be more difficult and are more strictly marked. Evidence of emergency situations must be provided. Class-room conduct:Please come on time and put phones in silent mode during the lectures and exams. We should not engage in activities that will hamper the concentration of other students during the class. Please remember our aim is to “seek knowledge”. So, let us maintain a healthy atmosphere for sharing knowledge. Please do not cheat during exams; doing so will affect your grade negatively. ................
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