Course Notes

Topics: Supply and demand, Economics, Market Pages: 3 (944 words) Published: December 2, 2012
DSME 1030 Economics for Business Studies I Fall 2011 Professor J.C. Jin Office: 936 Business Faculty Building, Phone: 2609-7902, Email: Office Hours: M & W 9:30-10:15 and by appointment TA: Melody Fung, Office: 931 Business Faculty Building, Phone: 2696-1654, Email: Office Hours: M – F 9:30-11:30 or by appointment Text: Mankiw, Principles of Economics, South-Western Cengage Learning, 6th edition, 2012.

Exams: 1. There will be 3 in-class tests and 5 quizzes. No make-up tests and quizzes will be given. 2. The weighting scheme is as follows: Test 1 (early October) Test 2 (early November) Test 3 (late November) Quizzes (dates unknown) Total 25% 25% 25% 25% (= 5% each * 5 quizzes) 100%

3. The overall semester grade is based upon class distribution (assuming a normal distribution). 4. 3 tests will be multiple choice questions (40 questions), and 5 quizzes will be 1-page short essays (most important is a graphical analysis). 5. You need to show your student ID during exams. You are not allowed to take exams and quizzes in my other classes. Course Information: This course teaches an introductory level of microeconomics, which is the first-semester economics course for business majors. Selected topics include demand and supply, consumers’ choice, firms’ choice, economics of public sector, and several types of market structure. Although graphical analysis is emphasized throughout the semester, mathematical derivations will also be employed, if necessary, for better understanding. Study Outcomes: After completing this course, students will be able to understand the followings: (1) How the market economy works, and we also discuss graphically how much can be produced given the available resources and technology. (2) Why people are better off if we trade with one another and internationally. (3) How buyers and sellers behave in the market, and how prices are determined in the market. (4) Why people respond to price changes...
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