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SINDH MADRESSATUL ISLAM (SMI) UNIVERSITY

Department of Business Administration

COURSE SYLLABUS BBA Program

1. COURSE INFORMATION
Course Title
Course Code
Credit Hours
Pre-requisite
Type of Course
Academic Year

Microeconomics
3(3+0) Total Credit Hours(Theory)
If any
Core / Supporting / CS Elective / General Education Course
Spring 2015-16

2. COURSE DESCRIPTION
This course is suitable both for economics and non-economics majors as gives an
overview of economics as a social science for those wishing to learn the basics of
economics while pursuing other undergraduate majors, however at the same time, the
course provides a solid grounding in microeconomics for those wishing to pursue
further education in economics. The class as well gives an overview of thinking like
an economist and as such provides a solid grounding in economic thought and not
just microeconomics as a sub-field. Differing perspectives from mainstream
economics, especially Austrian School Economics, Marxist Economics and Cultural
Economics, are also introduced throughout the course in order to give the student an
insightful perspective to understand and critique contemporary debates over
economic policy and to provide an understanding of these differing views of societal
economic organization and the welfare and political philosophy perspectives of these
differing views.
3. COURSE SUPERVISOR
Coordinator Name
Contact Details

Mubashir Ali Khan, Ph.D.


Office Extension: 307
Phone: +92(21)99217501-3
Email:
Office Hours: Mon/Thu: 12:30 15:30

4. COURSE GOALS
1. To guide students toward communicating an understanding of how social science
knowledge is established, how this knowledge changes over time and why, the
Principles of Microeconomics course addresses the application of Scientific Method
and utilizes economic models. Students are introduced to the nature of assumptions
in economic modeling and general problems involving comparative statics. This
outcome is assessed primarily through in-class (multiple choice and/or short essay)
examinations, but also through in-class discussion and homework assignments.
2. To guide students toward evaluating evidence and applying it to solving problems
through social science methods, the Principles of Microeconomics course addresses
specific models of price or output determination. For example, students are
introduced to concepts of opportunity cost in order to explain patterns of
international trade and 2- person exchange. Students are acquainted with market
models like the demand and supply model and asked to explain the impact of
various types of public policy (e.g. rent control, price regulation, etc.), to forecast
how exogenous events may affect market prices and output, discuss how differences
in market structure affect price and output, and explain how consumers make
purchasing choices. This outcome is assessed primarily through in-class (multiple
choice and/or short essay) examinations, but also through in- class discussion and
homework assignments. Other sections of Principles of Microeconomics may also
assign short papers that require this analysis.
3. To guide students toward communicating an understanding of a body of social
science knowledge and its disciplinary perspective, the Principles of
Microeconomics course follows a cross-disciplinary perspective. Students are
introduced to regulatory issues and expected to explain contemporary events in light
of the tools of microeconomic analysis. These contemporary events typically
contain political, sociological and psychological components. The Principles of
Microeconomics course is cumulative, in that the course builds upon successive sets
of material. Students in this course develop a perspective into how economic
analysis flows through a variety of areas. First, concepts of demand and supply are
developed. Following this, students apply these concepts to the workings of
competitive markets. Both long and short run decision making is addressed during
this time. Afterwards, students are introduced to markets characterized by monopoly
and imperfect competition, and then presented with the various regulatory issues
that confront all markets. This outcome is assessed primarily through in-class
(multiple choice and/or short essay) examinations, but also through in-class
discussion and homework assignments.

5. COURSE LEARNING OUTCOMES

Upon completion of this course, students should be able to:


1. Basic economic concepts including opportunity costs, scarcity, positive and
normative economics
2. How to analyze production possibilities of firms and countries, the sources
of their comparative advantages, and gains from trade.
3. How to use the supply and demand model to understand how markets
work.
4. How elasticity is calculated and its relevance to understanding markets.
5. How to analyze consumer behavior with respect to decisions about
consumption, savings and employment.
6. How to analyze decisions firms make about pricing, output, employment
and investment.
7. How to analyze the behavior of firms in alternative market structures
including perfect competition, monopoly, monopolistic competition and
oligopoly.
8. How to apply basic game theory to strategic interaction between companies
and individuals
9. How to use the concepts of equity, efficiency, and market failure to analyze
and evaluate government policies such as price floors and ceilings, tax policy,
environmental policy, etc.
10. How to apply economic concepts and ideas to situations not specifically
covered in class
6. COURSE CONTENTS AND TOPICS ( Week by Week )
Week
1
2
3

Topic Covered
Introduction to Economic Thinking: Ten Principles of Economics
Mankiw, Chapter 1
Introduction to Economics: Economist as Scientist and Policy Advisor
Mankiw, Ch. 2
Introduction to Economics: Graphs and Curves
Mankiw, Ch. 2

4
5
6
7

Test/Quiz
Societal Organization and Gains Through Trade
Mankiw, Ch. 3
Supply and Demand
Mankiw, Ch. 4
Elasticities of Supply and Demand
Mankiw, Ch. 5

8
9
10
11

Mid Term
Welfare Economics: Consumer and Producer Surplus Mankiw, Ch. 7
Government Policy: Price Controls and Taxes
Mankiw, Ch. 6;
Perfect Competition, Externalities and Public Goods Mankiw, Chapters 10 and

11
12
13
14
15
16

Test/Quiz
Economics of the Labor Market
Mankiw, Chapters 18 and 19
Inequality and Political Economy
Mankiw, Ch. 20
Final Examination

7. OUT-OF-CLASS ASSIGNMENTS ( Book Review, Project, Term Paper etc ):


Submission Date:
Week-3

Assignment

Week-6

Assignment

Week-9

Assignment

Week-12

Project

8. COURSE TEXTBOOK, RECOMMENDED READINGS AND RESOURSES :


Textbook

TITLE: Principles of Microeconomics, 5th Edition (2007) AUTHOR: N.


Gregory Mankiw PUBLISHER: South-Western
Reference Book(s)
1. Perloff, Jeffrey M. Microeconomics. 5th ed. Addison Wesley, 2008. ISBN:
9780321558497.
2. Rittenberg, Libby, and Timothy Tregarthen. Principles of Microeconomics(PDF 15.1MB). 2009. (Courtesy of Libby Rittenberg, Timothy Tregarthen, and the Saylor
Foundation.)

9. LEARNING STRATEGIES
Active learning strategies are employed in this course to encourage students'
participation in class and to foster their abilities to gather information and data from
its sources and analyze it.
Active learning strategies will focus on Theory, Problem Analysis, Design and/or
Solution and Social Ethical Issues related to Computer Science in general and course
in particular.
Active learning strategies include assignments/projects where students work in
individual and in teams to solve certain problems and do projects on their own.
Readings may include many Internet sites.

10. STUDENT EVALUATION


Following is a distribution of 100 score across assessment tools:
Course Work Evaluation
(Tests / Quizzes / Assignments / Project)
Midterm
Final

40
20
40

11. ATTENDANCE POLICY


Students are expected to attend their classes. Absence never exempts a student from the
work required for satisfactory completion of the courses. Excessive absences of any
course will result in:
1.
First warning for absence of 10% of the class hours
2.
Second warning for absence of 20% of the class hours
3.
A failing grade in the course for an absence of 25% of the class hours (as
per HEC guidelines)

4.

Exception to (3) may be made in the case of serious illness or death to an


immediate family member if approved by the dean of the college. In such
case, the student will receive a W grade in the course

12. PLAGIARISM
It is use of someone elses idea, words, projects, artwork, phrasing, sentence structure, or
other work without properly acknowledging the ownership (source) of the property.
Plagiarism is dishonest because it misrepresents the work of someone else as ones own.
Students who are suspected of plagiarism will answer to an investigation. Those found
guilty will face a disciplinary action as per the university rules.
13. Class Rules:
There will be no cellphone or text use during class, computers (and iPhones etc.) are
acceptable if they are used to do research in order to participate in class discussion. There
will be no prolonged side discussions tolerated during class as they distract from the
learning of others. Anyone who persists in disrupting the class will be asked to leave the
classroom. There will be no make-up exams, homework assignments, or extra-credit
opportunities. It is expected that you will conform to the above grading protocols. If
emergencies arise, it is expected that you will meet with the instructor during office hours
or by appointment via email to work-out a realignment of the grading protocol, including
providing verifiable documentation for emergency-based missed deadlines. There will be
no realignment of the grading protocol for any student unless it is due to an unforeseen
emergency.

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