1. Name of Course: : Microeconomics 1 2. Course Code: : BT102033. Name(s) of academic staff: Rostika Petrus Boroh

Room No. 19, Level 3, FPEP (3-9-A); Ext. 1544; Email: rpboroh@ums.edu.my

4. Rationale for the inclusion of the course/module in the programme:

This subject is school core subject. Business and economics students should have basic theory and knowledge on microeconomics concepts and theories. This is important before dwelling with other theories especially in economics study.

5. Semester and Year offered: Semester 1 for 1st year students6. Total Student

Learning Time (SLT)

Face to Face Total Guided and Independent Learning

L = LectureT = TutorialP = PracticalO= Others

L T P O See Appendix

7. Credit Value: 38. Prerequisite (if any): -9. Learning outcomes:

At the end of the course, student should be able to:

explain the fundamental concepts and theories of microeconomics (PLO1)(C2, A2) explain and relate the demand and supply application and elasticity, household

behavior and consumer choice, production process and costs (PLO1)(C2, A2) analyze and explain the differences among various market structures, pricing

models, and market failures (PLO2)(C4, P3, A2, CTPS) analyze, apply and relate the knowledge of microeconomics to the economic issues,

analyze, build new ideas of, and evaluate the economic issues (PLO1, PLO3)(C4, P3, A3, CTPS3)

10. Transferable Skills:

Comprehension skillsProblem-solving skills

11. Teaching-learning and assessment strategy:

Lectures, tutorial, e-learning using SMARTUMS Learning Management System online quiz, midterm examination, final examination

Project-based learning assessment of assignment

1

12. Synopsis:

This course is designed to introduce the concepts and theories of microeconomics and its applications to the real world. This course comprises of four sections stated as follows: 1) Introduction-introduces microeconomics, its scope and market; 2) Consumer decision-consumer choice, individual and market demand, and individual as a supplier; 3) Producer decision-production and cost of production; and 4) Market behaviour-introduces perfect competitive market, monopoly, monopolistic competition and oligopoly, as well as market failures.

13. Mode of Delivery:

Lecture, Tutorial, Project paper & e-learning

14. Assessment Methods and Types:

The assessment for this course will be based on the following:Component WeightQuizTutorial Exercises

10%10%

Assignment 20%Mid-term evaluation 20%Final examination 40%Total 100%

All components of the above assessment are compulsory and must be completed before the stipulated deadline.

15. Mapping of the course/module to the Programme Aims:

Refer to attached Program Summary Matrix

16. Mapping of the course/module to the Programme Learning Outcomes:

Refer to attached Program Summary Matrix

2

17. Content outline of the course/module and the SLT per topic: (See Appendix)

Weekly Topic Chapter /Tutorial

DiscussionIntroduction to Microeconomics Week 1- Why study Economics?- Scarcity, Choice and Opportunity Cost- The Production Possibilities Frontiers- Economic Systems

Chapter 1

Demand and Supply Week 2- The Circular-Flow Diagram- Input and Output Markets- Market Equilibrium

Chapter 2, 3

Household Behavior and Consumer Choice Week 3- Household Choice in Output Markets- The Basis of Choice: Utility- Income and Substitution Effects

Chapter 9

Elasticity and its application Week4- Price elasticity of demand- Determinants- Application of elasticity concept

Chapter 4

Externalities, Public Goods and Social Choice Week 5- Externalities and Environmental Economics- Public Goods- Social Choice

Chapter 5

MID-TERM EVALUATION Week 6

The Production Process Week 7- The Behavior of Profit-Maximizing firms- The production Process- Short-Run and Long-Run Costs of Production

Chapter 10

Pure/Perfect Competition in the Short Run Week 8- Characteristics and Occurrence- Profit maximization in the Short Run

Chapter 11

Pure/Perfect Competition in the Long Run Week 9- Profit maximization in the Long Run- Pure competition and efficiency- Technology Advance and Competition

Chapter 12

Monopoly Week 10-Imperfect Competition- Pure Monopoly

Chapter 13

3

- The Social CostsMonopolistic Competition and Oligopoly Week 11- Product Differentiation- Price and Output Determination- Oligopoly Models- Game theory

Chapter 14

The Demand for Resources Week 12-Determinants of Resource Demand-Elasticity of Resource Demand-Optimal Combination of Resources

Chapter 15

Wage Determination Week 13- Labour, Wages, and Earnings- General Level of Wages- Wage Differentials

Chapter 16

* Natural Resource and Energy Economics Week 14- Renewable Resources- Nonrenewable Resources

Chapter 18

* Additional for contemporary economics scenario

18. Main textbook :1. McConnell, C. R., Brue, S. L., Flynn, S. M., Grant, R. (2012) Economics, 20th ed.

Singapore: McGraw-Hill/Irwin.

Additional references :1. Pindyck, R. S. & Rubinfeld, D. L. (2013) Microeconomics, 8th ed. Singapore:

Pearson.2. Case, K. E. , Fair, R. C. & Oster, S.M (2012) Principles of Microeconomics, 10th ed.

United States: Pearson Education Limited. 3. Case, K. E. & Fair, R. C. (2007) Principles of Microeconomics, 8th ed. United

States: Prentice-Hall. 4. Frank, Robert H. & Bernanke, Ben S. (2007) Principles of Microeconomics, 3rd ed.

Boston: McGraw-Hill Irwin. 5. Baumol, W.J. & Blinder, A.S. (2003) Microeconomics: Principles and Policy, 9th ed.

United States: Thomson TM South–Wesatern. 6. Nicholson W. (2002) Microeconomic Theory: Basic Principles and Extension, 8th

ed. New York: The Dryden Press.7. Vengedasalam, D., Madhavan, K. & Kamaruddin, Rohana. (2008) Microeconomics.

Kuala Lumpur: Oxford University Press.

19. Other additional information:

E-learning materials available at SMARTUMS (Learning Management System) Week 10 – Students to fill in course evaluation online. Compulsory for all students.

4

20. NOTES: Students will be assigned into one of the tutorials All students are compulsory to attend all lectures and tutorial classes. In case of absence, a FORMAL letter with reason(s) is to be written

5