Microeconomics (ECO111)
Vietnamese title: Kinh tế vi mô
Credits: 3

Description:
Economics is the study of how the society manages its scarce resources. Economics has been divided into the subcategories of microeconomics and macroeconomics. While macroeconomics studies aggregate issues related to national and international economic activities, this course - microeconomics - focuses on the behavior of individual economic agents. Microeconomics studies how households (or individuals), business (or firms, enterprises) and the government make decisions, given scarcity of resources. It also studies the interactions among those market members and how these interactions have impacts on their economic benefits and the economy. Because most of these activities occur in the markets, this course also focuses on how the markets work.

Learning outcomes:
Explain why consumers attempt to maximize utility.
Shows self-reliance when working independently and collaboratively
Demonstrate ethical awareness and reflection in business context
Describe long runs and short runs
Discuss fixed, variable, and total costs
Identify the characteristics of microeconomics and its effect consumers, businesses, and owners
Recognize the three primary forms of elasticity as their impacts on economics
Review curve analysis and how it reflects consumer demand
Apply utility theory to the changing world of supply and demand
Describe cost curves and consumer variables
Recognize the role of supply and demand in economics, government policies.

Student tasks:
+ Class attendance is strongly encouraged. Attend at least 80% of class hours in order to be accepted to the final examination
+ Read textbooks and other materials in advance before class
+ Actively participate in class activities
+ Complete all homework assignments and other tasks given by the instructor
+ Use personal laptop in class only for learning purposes
+ Don’t have private conversations or arrive at class late, which can disrupt the learning environment of the class

Tools:

Materials:
description: Principles of Economics
author: Mankiw, N. G.
publisher: South-Western CENGAGE Learning
published_date: 2011
edition: 6th
isbn: 978-0-538-45342-4
description: Principles of Economics (International Edition)
author: Mankiw, N. G.
publisher: South-Western CENGAGE Learning
published_date: 2018
edition: 8th
isbn: 978-1-305-58512-6
description: Principles of Microeconomics (International Edition)
author: Mankiw, N. G.
publisher: South-Western Cengage Learning
published_date: 2009
edition: 5th edition
note: https://openlibrary.org/books/OL23174415M/Principles_of_microeconomics
description: AE Principles of Economics
author: N. Gregory Mankiw
publisher: Cengage
published_date: 2020
edition: 9th
isbn: ISBN-13: 9789814915342 | ISBN-10: 9814915343
note: Chọn một trong 3 quyển. Nếu mua ưu tiên mua ấn bản mới nhất

Assessments:
category: Class Participation
type: on-going
weight: 10.0
question_type: LO10, LO11
category: Group Assignment (01)
type: on-going
weight: 30.0
duration: 15' for each group presentation and 10' for Q&A
question_type: LO6, LO7, LO8, LO9, LO10, LO11
no_question: Option 1:Students will be divided into 4-6 groups in the first session. Students could join some in-class activities as members of those groups. Each group will be assigned one topic, or will choose one topic subject to the instructor's approval, which is related to current economic issues in the real world. Students need to apply all comprehensive knowledge of microeconomics to explain and analyze those issues. Option 2 (For Constructivism Approach only): Follow lecturer's proposal
knowledge_and_skill: Option 1: One topic related to real current economic problems for each group Option 2 (For Constructivism Approach only): Follow lecturer's proposal
grading_guide: Option 1: This group presentation will test critical thinking and skills of applying microeconomic theory to explain and predict the economic phenomena in the real world.Option 2 (For Constructivism Approach only): Follow lecturer's proposal
note: Option 1: Preparation at home and group presentation in class room
Option 2 (For Constructivism Approach only): Follow lecturer's proposal
category: Individual Assignments (02)
type: on-going
weight: 20.0
question_type: LO3, LO4, LO5, LO6, LO7, LO10, LO11
no_question: Option 1: Written homework in forms of computation exercises and open problems. Option 2 (For Constructivism Approach only): Follow lecturer's proposal
knowledge_and_skill: Option 1: not detailledOption 2 (For Constructivism Approach only): Follow lecturer's proposal
grading_guide: Option 1:Coverage of Individual Assignment 1 is chapters 1, 2, 4, 5, 6, 7, 21. Coverage of Individual Assignment 2 is chapters 13, 14, 15, 16, 17, 10, 11, and 18. Specific content of each individual assignment is subject to the instructor's decisions. Questions can either be theoretical analysis, computational exercises, or case analysis.Option 2 (For Constructivism Approach only): Follow lecturer's proposal
note: Option 1: Do at home and due according to deadlines
Option 2 (For Constructivism Approach only): Follow lecturer's proposal
category: Quizzes (02)
type: on-going
weight: 10.0
duration: 15' each
question_type: LO1, LO2, LO3, LO4, LO5
no_question: Option 1: Multiple choice questions Option 2 (For Constructivism Approach only): Follow lecturer's proposal
knowledge_and_skill: Option 1: 15 questions.
Option 2 (For Constructivism Approach only): Follow lecturer's proposal
grading_guide: Option 1:Quizzes will test for knowledge of subjects in the relevant chapters assigned for quiz days. Coverage of Quiz 1 is chapters 1, 2, 4, 5, and 6. Coverage of Quiz 2 is chapters 7, 21, 13, 14, and 15.
Option 2 (For Constructivism Approach only): Follow lecturer's proposal
note: Option 1: Class room
Option 2 (For Constructivism Approach only): Follow lecturer's proposal
category: Final Exam
type: Final exam
weight: 30.0
duration: 60'
question_type: All LOs
no_question: Multiple choice questions
knowledge_and_skill: 50
grading_guide: The questions will cover the lectures, in-class activities, exercises, and textbook materials.
note: Exam room

Schedule:
session: -Course Overview
-Introduction to AI Integration into the Course
-Handout of Individual Assignment 1 (Chapters 1, 2, 4, 5, 6, 7, 21)
Chapter 1: Ten Principles of Economics
learning_outcomes: IT
materials: ECOchap1-8
session: Chapter 1: Ten Principles of Economics
learning_outcomes: IT
materials: ECOchap9-16
session: Group Formation
Group Assignment Guidelines
Chapter 2: Thinking like An Economist
learning_outcomes: I
T
materials: ECOchap17-24
session: Chapter 2: Thinking like An Economist
learning_outcomes: I
T
materials: ECOchap25-32
session: Chapter 4: The Market Forces of Supply and Demand
[Practice: 1 period(s)]
learning_outcomes: I
T
U
materials: ECOchap33-36
session: Chapter 4: The Market Forces of Supply and Demand
[Practice: 1 period(s)]
learning_outcomes: T
U
session: Chapter 4: The Market Forces of Supply and Demand
[Practice: 1 period(s)]
learning_outcomes: T
U
session: Chapter 4: The Market Forces of Supply and Demand
[Practice: 1 period(s)]
learning_outcomes: T
U
session: Chapter 5: Elasticity and Its Application
[Practice: 1 period(s)]
learning_outcomes: T
U
session: Chapter 5: Elasticity and Its Application
[Practice: 1 period(s)]
learning_outcomes: T
U
session: Chapter 5: Elasticity and Its Application
[Practice: 1 period(s)]
learning_outcomes: T
U
session: Chapter 5: Elasticity and Its Application
[Practice: 1 period(s)]
learning_outcomes: T
U
session: Group Topic Discussion
Chapter 6: Supply, Demand, and Government Policies
learning_outcomes: I
T
session: Chapter 6: Supply, Demand, and Government Policies
learning_outcomes: T
U
session: Chapter 6: Supply, Demand, and Government Policies
[Practice: 1 period(s)]
learning_outcomes: T
U
session: Chapter 6: Supply, Demand, and Government Policies
[Practice: 1 period(s)]
learning_outcomes: T
U
session: Chapter 7: Consumers, Producers, and the Efficiency of Markets
[Practice: 1 period(s)]
learning_outcomes: T
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session: Chapter 7: Consumers, Producers, and the Efficiency of Markets
[Practice: 1 period(s)]
learning_outcomes: T
U
session: Chapter 7: Consumers, Producers, and the Efficiency of Markets
[Practice: 1 period(s)]
learning_outcomes: ITU
session: Chapter 7: Consumers, Producers, and the Efficiency of Markets
learning_outcomes: I
T
U
session: Quiz 1 (Chapters 1, 2, 4, 5, 6) - Review
Chapter 21: The Theory of Consumer Choice
[Practice: 1 period(s)]
learning_outcomes: TU
session: Chapter 21: The Theory of Consumer Choice
[Practice: 1 period(s)]
learning_outcomes: T
U
session: Chapter 21: The Theory of Consumer Choice
[Practice: 1 period(s)]
learning_outcomes: T
U
session: Chapter 21: The Theory of Consumer Choice
[Practice: 1 period(s)]
learning_outcomes: T
U
session: Submission of Individual Assignment 1
Handout of Individual Assignment 2 (Chapters 13, 14, 15, 16, 17, 10, 11, 18)
Group Topic Finalization
Chapter 13: The Costs of Production
learning_outcomes: IT
session: Chapter 13: The Costs of Production
[Practice: 1 period(s)]
learning_outcomes: T
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session: Chapter 13: The Costs of Production
[Practice: 1 period(s)]
learning_outcomes: T
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session: Chapter 13: The Costs of Production
[Practice: 1 period(s)]
learning_outcomes: T
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session: Chapter 14: Firms in Competitive Markets
[Practice: 1 period(s)]
learning_outcomes: T
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session: Chapter 14: Firms in Competitive Markets
[Practice: 1 period(s)]
learning_outcomes: T
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session: Chapter 14: Firms in Competitive Markets
[Practice: 1 period(s)]
learning_outcomes: T
U
session: Chapter 14: Firms in Competitive Markets
[Practice: 1 period(s)]
learning_outcomes: T
U
session: Chapter 15: Monopoly
[Practice: 1 period(s)]
learning_outcomes: T
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session: Chapter 15: Monopoly
[Practice: 1 period(s)]
learning_outcomes: T
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session: Chapter 15: Monopoly
[Practice: 1 period(s)]
learning_outcomes: T
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session: Chapter 15: Monopoly
[Practice: 1 period(s)]
learning_outcomes: T
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session: Chapter 16: Monopolistic Competition
[Practice: 1 period(s)]
learning_outcomes: T
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session: Chapter 16: Monopolistic Competition
[Practice: 1 period(s)]
learning_outcomes: T
U
session: Chapter 16: Monopolistic Competition
[Practice: 1 period(s)]
learning_outcomes: TU
session: Chapter 16: Monopolistic Competition
[Practice: 1 period(s)]
learning_outcomes: T
U
session: Quiz 2 (Chapters 7, 21, 13, 14, 15) - Review
Review of Individual Assignment 2
Chapter 17: Oligopoly
[Practice: 1 period(s)]
learning_outcomes: T
U
session: Chapter 17: Oligopoly
[Practice: 1 period(s)]
learning_outcomes: T
U
session: Chapter 17: Oligopoly
[Practice: 1 period(s)]
learning_outcomes: T
U
session: Chapter 17: Oligopoly
[Practice: 1 period(s)]
learning_outcomes: T
U
session: Chapter 10: Externalities
[Practice: 1 period(s)]
learning_outcomes: T
U
session: Chapter 10: Externalities
[Practice: 1 period(s)]
learning_outcomes: T
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session: Chapter 10: Externalities
[Practice: 1 period(s)]
learning_outcomes: T
U
session: Chapter 11: Public Goods and Common Resources
[Practice: 1 period(s)]
learning_outcomes: T
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session: Chapter 11: Public Goods and Common Resources
[Practice: 1 period(s)]
learning_outcomes: T
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session: Chapter 11: Public Goods and Common Resources
[Practice: 1 period(s)]
learning_outcomes: T
U
session: Submission of Individual Assignment 2
Chapter 18: The Markets for the Factors of Production
[Practice: 1 period(s)]
learning_outcomes: ITU
session: Review
Review of Individual Assignment 2
Submission of Group Assignment
Course Review & Practice
[Practice: 2 period(s)]
learning_outcomes: ITU
session: Course Review & Practice
[Practice: 2 period(s)]
learning_outcomes: I
T
U
session: Course Review & Practice
[Practice: 2 period(s)]
learning_outcomes: I
T
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session: Course Review & Practice
[Practice: 2 period(s)]
learning_outcomes: I
T
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session: Presentation of Group Assignment
[Practice: 2 period(s)]
learning_outcomes: U
session: Presentation of Group Assignment
[Practice: 2 period(s)]
learning_outcomes: U
session: Presentation of Group Assignment
[Practice: 2 period(s)]
learning_outcomes: U
session: Presentation of Group Assignment
[Practice: 2 period(s)]
learning_outcomes: U
session: Presentation of Group Assignment
[Practice: 2 period(s)]
learning_outcomes: U