Course Name Year Term Period Faculty / Graduate School All Instructors Credits
16612:IR18‐EE223 Microeconomics (RA) § 16613:RUIR-2212 Microeconomics(RA) 2024 Spring Mon3 College　Of　International　Relations LI JINSONG 2

Campus

KIC

Class Venue

MEIGAKUKAN　MG001

Language

English

Course Outline and Method

In this introductory course, we will study the causes and consequences of human decision making, market behavior, and implementation of public policies. Using basic microeconomic models, students will learn to evaluate microeconomic issues, including current events. This course aims to develop students' ability to understand how markets work as well as their everyday decision making.

Student Attainment Objectives

On successful completion of this course, students should attain:
1. The ability to apply microeconomic theories to real-world issues
2. The ability to determine market equilibrium and welfare
3. The ability to evaluate the effectiveness of policy programs using economic techniques
4. Better understanding of human decision making

Recommended Preparatory Course

Course Schedule

Lecture/Instructor（When there are multiple instructors) Theme
Keyword, References and Supplementary Information
1

Introduction, Course Overview

Aims and structure of this course, Principles of Economics

2

Essence of Economics

Incentives, Cost-benefit principle, Opportunity costs, Sunk costs, Decision making

3

Supply and Demand

Demand curve, Demand function, Supply curve, Supply function, Invisible hand, Substitutes, Complements

4

Consumer and Producer Surplus

Consumer surplus, Producer surplus, Gains from trade

5

Price Controls and Quotas

Price floor, Price ceiling, Market equilibrium, Supply-and-Demand model, Efficiency, Equity

6

Price Elasticity and Its Application

Elasticity of demand, Elasticity of supply

7

Taxes

Trade-off, Efficiency, Equity, Dead weight loss, Role of the government

8

International Trade

Gains from trade, Comparative advantage

9

Regulations

Policy effects on the supply-and-demand Model

10

Decision Making by Individuals and Firms

Economic profit, Explicit costs, Implicit costs, Utility function, Marginal analysis

11

The Rational Consumer

Indifference curves, Budget constraint, Income effect, Substitution effect

12

Behind the Supply Curve: Inputs and Costs

Production function, Diminishing returns, Variable cost, Fixed cost, Average total cost, Marginal cost

13

Perfect Competition and the Supply Curve

Perfectly competitive market, Break-even price, Zero-profit condition, Shut-down price

14

Concluding Session

Q&A session

15

Final Examination

Final Examination

Class Format

In-person

Recommendations for Private Study

It is highly recommended to solve the Problem Sets and exercises provided in class and review them in order to understand the theories and their applications.

Grade Evaluation Method

Kind Percentage Grading Criteria etc.
Final Examination (Written)

Report Examination
(A report to be submitted by the unified deadline)

Exams and/or Reports other than those stated above, and Continuous Assessment　
(Evaluation of Everyday Performance in Class)		 100

Final exam (60%), Problem sets (40%)

The problem sets will be distributed via the Tests Section of manaba+R after almost every class.

Grade Evaluation Method （Note）

This course does not allow the use of AI tools. Any use of AI would be treated as academic dishonesty.

Advice to Students on Study and Research Methods

Textbooks

Title Author Publisher ISBN Code Comment
Principles of Economics N. Gregory Mankiw Cengage Learning

Textbooks （Frequency of Use, Note）

Reference Books

Reference Books （Frequency of Use, Note）

Web Pages for Reference

How to Communicate with the Instructor In and Out of Class(Including Instructor Contact Information)

Learning Management System （manaba+R）,Talk with Students

Other Comments

【科目ナンバリング・カリキュラムマップはこちらから/Click here to see the Curriculum-Map and Course-Numbering】
URL:http://www.ritsumei.ac.jp//students/pathways-future/course/curriculum.html