科目ナンバー

GM-OM1-GC04

履修条件・関連科目等

This course assumes that you have completed "Introductory Economics" with a grade of B.

授業で使用する言語

英語

授業で使用する言語（その他の言語）

授業の概要

This course will introduce the tools of microeconomic analysis that will give you insight into how economic models can help us grasp important real world phenomena. Topics include supply and demand interaction, utility maximization, profit maximization, perfect competition and efficiency, monopoly power, imperfect competition, game theory, and asymmetric information. This course develops a coherent framework, i.e., economic models, to analyze and organize observed economic phenomena. The students are expected to build logical thinking ability that helps explain and predict a wide variety of economic issues.

科目目的

Students who successfully complete the following criteria will receive a grade of A or better.
(or, Upon successful completion of this course, you will be able to:)

1. Demonstrate a rigorous understanding of microeconomic theory.
2. Develop skills in formulating the economic behaviors of consumers and firms using tables and figures.
3. Compare arguments concerning business and politics, and make good conjectures regarding the alternative options.
4. Understand the textbook written in English, and explain/discuss how to derive solutions in English.

到達目標

Successful students may be able to understand how our market system works, and to apply each model framework for advanced courses in the Faculty of Global Management.

授業計画と内容

1. Introduction
• Guidance for the Microeconomics Course
• Review of Introductory Economics

2. Chapter 2 - Thinking like an Economists
• The Circular-Flow Diagram
• The Production Possibility Frontiers
• Active learning - Exercise with Group work

3. Chapter 3 - Interdependence and the Gains from Trade
• Comparative Advantage
• Exercise on International Comparative Advantage

4. Chapter 5 - Elasticity and Its Application
• The Elasticity of Demand
• Computing the Price Elasticity of Demand
• The Elasticity of Supply

5. Chapter 5 - Continued
• Three Exercises on Applications of Elasticity
Agriculture, OPEC, Drug Interdiction

6. Chapter 6 - Supply, Demand, and Government Policies
• Control on Prices--Rent Control

7. Chapter 6 - Continued
• Taxes on Sellers
• Taxes on Buyers

8. Chapter 7 - Consumers, Producers, and the Efficiency of Markets
• Willingness to Pay
• What does Consumer surplus Measure?
• How Price Affects Consumer Surplus

9. Chapter 7 - Continued
• Producer Surplus
• Market Efficiency
• Evaluating the Market Equilibrium

10. Chapter 22 - The Theory of Consumers Choice
• The Budget Constraint
• Preferences
• Indifference Curves

11. Chapter 22 - Continued
• Optimization
• How Changes in Income Affect the Consumer's Choices
• How Changes in Prices Affect the Consumer's Choice
• Income and Substitution Effects

12. Chapter 10 - Externalities
• Externalities and Market Inefficiency
• Command and Control Policies
• Corrective Taxes and Subsidies

13. Chapter 10 - Continued
• Tradable Pollution Permits

14. Midterm Summary

15. Chapter 11 - Public Goods and Common Resources
• Different Kinds of Goods
• Public Goods

16. Chapter 11 - Continued
• Common Resources

17. Chapter 23 - Frontiers of Microeconomics
• Asymmetric Information
• Hidden Actions: Moral Hazard
• Adverse Selection and the Lemmon Problem
• Signaling to Convey Private Information

18. Chapter 23 - Continue
• People Aren't Always Rational
• People Care about Fairness

19. Chapter 14 - The Costs of Production
• What are Costs?
• Production and Costs
• Fixed and Variable Costs

20. Chapter 14 - Continue
• Average and Marginal Cost
• Cost Curves and Their Shapes
• Typical Cost Curves
• Costs in the Short Run and in the Long Run

21. Chapter 15 - Firms in Competitive Markets
• What is a Competitive Market?
• Profit Maximization
• Supply Curve

22. Chapter 15 - Continued
• Decision to Shut Down
• Long-Run Decision to Exit or Enter a Market

23. Chapter 16 - Monopoly
• Why Monopolies Arise
• How Monopolies Make Production and Pricing Decisions

24. Chapter 16 - Monopoly (Continued)
• The Welfare Cost of Monopolies
• Price Discrimination--Discussion: Examples of Price Discrimination in the Real-World

25. Chapter 17 - Monopolistic Competition
• Between Monopoly and Perfect Competition
• Short Run
• Long Run Equilibrium

26. Chapter 18 - Oligopoly
• Markets with Only a Few Sellers
• Duopoly
• Derive Best Response

27. Chapter 18 - Game Theory
• Nash Equilibrium
• Prisoner's Dilemma
• Find a Nash Equilibrium

28. Course Summary

授業時間外の学修の内容

授業終了後の課題提出

授業時間外の学修の内容（その他の内容等）

8 hours of self-study are required for each week.

授業時間外の学修に必要な時間数／週

・毎週１回の授業が半期（前期または後期）または通年で完結するもの。１週間あたり４時間の学修を基本とします。
・毎週２回の授業が半期（前期または後期）で完結するもの。１週間あたり８時間の学修を基本とします。

成績評価の方法・基準

成績評価の方法・基準（備考）

課題や試験のフィードバック方法

授業時間内で講評・解説の時間を設ける

課題や試験のフィードバック方法（その他の内容等）

アクティブ・ラーニングの実施内容

ディスカッション、ディベート

アクティブ・ラーニングの実施内容（その他の内容等）

授業におけるICTの活用方法

その他

授業におけるICTの活用方法（その他の内容等）

This class follows 'BYOD (Bring Your Own Device) Policy' of the Faculty of Global Management, and all participants should bring your own PC which fully satisfies minimum Faculty-recommended specifications (i.e., display screen-size etc). Note that the University prohibits any use of SNS during the lecture, and no course material can be distributed somewhere else outside the class under the copyright-protection, license agreement terms and conditions, and other restrictions.

実務経験のある教員による授業

いいえ

【実務経験有の場合】実務経験の内容

【実務経験有の場合】実務経験に関連する授業内容

テキスト・参考文献等

Required textbook

You do not have to purchase the textbook if you already bought the same textbook for our course "Introductory Economics" this academic year's spring semester.

By N. Gregory Mankiw
"Principles of Economics" 10th Edition
Publisher: Cengage

Purchase a copy of the textbook at the University bookstore. Online MindTap course ware must be bundled. Do not buy or use a second-hand copy. You cannot submit online Aplia problem sets without MindTap course ware, which comes only with a new copy available at the University bookstore.

その他特記事項

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参考URL

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