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COURSE CODE & COURSE TITLE
Instructor Name : Hyojung Lee
Email : [email protected]
Tel : 6808 7942
Office : 5073
COURSE DESCRIPTION AND GOALS
One of the important learning goals for the undergraduate
program in economics is to d evelop
analytical reasoning skills based on sound economic theory, and
Intermediate Microeconomics is a key course
associated with that goal. Note that achieving that goal
requires both an understanding of the concepts used in
basic economic theory as well an ability to use analytical
reasoning to apply those concepts to economic
problems.The course will develop and use marginal analysis to
examine and interpret individual optimization by
economic agents (e.g., a firm choosing its production plan to
maximize profit) as well as economically
efficient outcomes. Equilibrium analysis will be developed and
used in both price -taking (competitive) andnon-price-taking (e.g.,
monopoly or oligopoly) contexts.
Because the text is very readable, little class time will be
used to address the material presented there
directly. Instead, a substantial part of class time will be
spent using the concepts presented in the text to work
through examples and applications. That makes it especially
important for students to keep up with the assigned
reading. I will rely on students having read and worked through
the material before it is discussed in class.
Students should bring up any questions they have during class
discussion of the topic, and reread and again
work through the material after it is discussed in class. When
students read the material, they should try to think
through each model or problem for understanding, not
memorization.
To do well in the course, students must understand the material.
The only way to learn and understand
the material is to think about and work through it. The homework
problems will contain many examples of the
type and level that will be useful in preparation for course
exams. When you read through a sample problem,you should attempt to
solve it yourself before reading the solution. If you are having
trouble solving a problem,
you should read only enough of the solution to help you get
started on the problem point. Then return to your
attempt to solve the problem.
ASSESSMENT METHODS
Class Participation : 10%
Mid-term Test : 40%
Final Examination : 50%
Total : 100%
Midterm is 75 minute long, and Final is 2 hour long and
cumulative. The type of questions in midterm and final
examinations will be similar to Homework problems.
Participation:
1. Quiz [8%]: There will be 10-20 minute quizzes starting the
second week. Total number of quiz is 10,but only best 8 scores will
be used for the students total quiz score.
2. Homework [2%]: Homework will be due right before the class
starts. There will be 6 homework
assignments. I encourage you to form a group of 3 4 students and
discuss about the problem sets.
However, you should write the solution by yourself. Copied
solutions will get no points. Please write
the names of the students in your study group on your homework
to prevent the grader from
incorrectly suspecting that your answers were copied from
another student. Each homeworks
total score is 2 points. You get full score if you do homework
reasonably well and if you have made an
honest effort to complete the problems correctly. However, you
get only 1 point if you dont
School of Economics
Academic Year 2014-15
Term 2
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sufficiently show how you solved the problems. Homework with
only simple answers [without any
explanations] will get 0.
Note that there will be no make-up exams and quizzes, and no
acceptance of late assignments.
ACADEMIC INTEGRITY
All acts of academic dishonesty (including, but not limited to,
plagiarism, cheating, fabrication, facilitation ofacts of academic
dishonesty by others, unauthorized possession of exam questions, or
tampering with the
academic work of other students) are serious offences.
All work (whether oral or written) submitted for purposes of
assessment must be the students own work.
Penalties for violation of the policy range from zero marks for
the component assessment to expulsion,
depending on the nature of the offense.
When in doubt, students should consult the instructors of the
course. Details on the SMU Code of Academic
Integrity may be accessed
athttp://www.smuscd.org/resources.html.
CLASS SESSIONS AND EXPECTATIONS
Class sessions are of 3-hour duration per week. Each session
involves a lecture, active group discussion of
relevant issues, quantitative problem-solving, a short quiz, and
review of homework assignments. Do not expect
me to spoon-feeding you the existing knowledge. In the spirit of
the SMU approach, I will rather assist you in
exploring new findings. So I will ask many questions in the
class and you are expected to think seriously about
the answers.
You are expected to look at the lecture notes before coming to
class and to print them if you need a reference.
The use of the laptop is generally not allowed
RECOMMENDED TEXT AND READINGS
Besanko and Braeutigam (2014) Microeconomics 5th ed. Wiley
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WEEKLY LESSON PLAN
Week Topic Readings
1 5 Jan 15, Mon Introduction, Demand and Supply Chapters 1,
2
2 Consumer Preferences Chapter 3
3Consumer Choice
(HW1 due)Chapter 4
4 The Theory of Demand Chapter 5
5Inputs and Cost Minimization
(HW2 due)Chapters 6, 7
6 Cost Curves Chapter 8
7Perfect Competition
(Midterm Exam, HW3 due)Chapter 9, 10
8 Recess Week
9Monopoly and Price Discrimination
(HW4 due)Chapters 11, 12
10 Game Theory Chapter 14
11Duopoly, Oligopoly
(HW5 due)Chapter 13
12 General Equilibrium Chapter 16
13Market Failures
(HW6 due)Chapter 17
14 Revision Week
15 Final Examination
