ECON111 Introduction to Microeconomics

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Course Code Course Title Weekly Hours* ECTS Weekly Class Schedule
T P
ECON111 Introduction to Microeconomics 3 0 6 MON 15:00-17:50 PM
Prerequisite None It is a prerequisite to
Lecturer Edib Smolo Office Hours / Room / Phone
Tuesday:
12:00-13:00 , 14:00-17:00
Wednesday:
14:00-17:00
Thursday:
12:00-13:00 , 14:00-17:00
E-mail esmolo@ius.edu.ba
Assistant Assistant E-mail
Course Objectives This course develops students' theoretical and practical knowledge regarding the topics of the market system, consumer choices, theory of firm and market failure. The course aims to provide basic understanding of how people and firms make their decisions in the markets.
Textbook Mankiw, G. N. (2014). Principles of Economics. Cengage publisher
Learning Outcomes After successful  completion of the course, the student will be able to:
  1. Explain the market mechanism and the Law of Supply and Demand
  2. Explain how consumer makes their optimal purchasing decisions.
  3. Explain how firms make their optimal production decisions.
  4. Explain the impact of government intervention in the market
  5. Explain how markets can fail and the remedies for market failure.
Teaching Methods The methods include lectures (which may involve power point presentation, video and audio aids), student presentations, projects and class discussions.
WEEK TOPIC REFERENCE
Week 1 Introductory Lecture
Week 2 Thinking like an economist/principles Chapter 1 & 2
Week 3 The market forces of supply and demand Chapter 3
Week 4 Elasticity and its applications / QUIZ 1 Chapter 4
Week 5 The theory of consumer choice Chapter 5
Week 6 Firms in competitive markets / / QUIZ 2 Chapter 6
Week 7 Midterm Exam
Week 8 Consumers, producers and the efficiency of markets Chapter 7
Week 9 Supply, demand and government policies Chapter 8
Week 10 The tax system / QUIZ 3 Chapter 9
Week 11 Public goods Chapter 10
Week 12 Externalities and market failure / QUIZ 4 Chapters 11
Week 13 Behavioral Economics Chapter 12
Week 14 Firms production decisions / QUIZ 5 Chapter 13
Week 15 Review
Assessment Methods and Criteria Evaluation Tool Quantity Weight Alignment with LOs
Final Exam 1 40 1,2,3,4,5
Semester Evaluation Compenents
Midterm Exam 1 25 1,2,3
Quizzes 4 15 1,2,3,4
Classwork 1 20 1,2,3,4,5
***     ECTS Credit Calculation     ***
 Activity Hours Weeks Student Workload Hours Activity Hours Weeks Student Workload Hours
Lecture Hours 3 15 45 Midterm Exam Study 25 1 25
Home Study 2 15 30 Home Study 2 15 30
Quiz 4 5 20
        Total Workload Hours = 150
*T= Teaching, P= Practice ECTS Credit = 6
Course Academic Quality Assurance: Semester Student Survey Last Update Date: 06/11/2020
QR Code for https://ecampus.ius.edu.ba/syllabus/econ111-introduction-microeconomics

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