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Introduction/Rationale for Principle of Microeconomics |
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Economics is the study of how individuals and societies choose to use the scarce resources that nature and previous generations have provided. In economics, you will learn a way of thinking that will enable you to understand better society and global affairs. Microeconomics is the branch of economics that examines the economic behaviors of the individual, the firm, and the industry.
The knowledge and understanding gained in the course will provide the essential basis for more advanced studies in economics.
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Course Objectives |
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This course is designed to give students a basic understanding of principles of microeconomics. Having participated in this course, registered students will be able to:
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Understand what economics, economic system, and aspects of modern economic are. |
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Understand the development of market economics, the decision makers, the differences between microeconomics and macroeconomics. |
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Understand demand, supply, and determination of price |
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Understand some elasticity of demand and supply. |
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Understand marginal utility and consumer choice, income and substitution effects of price changes. |
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Understand profits and costs, choices open to the firm, the production in the short-run, and short-run variations in cost. |
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Understand the long-run and very long-run |
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Understand the theory of perfect competition, short-run and long-run profit maximization. |
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Understand the theory of monopoly, short-run and long-run profit maximization. |
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In this course, registered students will receive advice and guidance from experienced course facilitators and also be able to communicate with and learn from other registered classmates. Students will be introduced to supplemental online information about microeconomics and have online access to an up to date textbook. |
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Structure, schedule and assignments |
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This course runs for 15 weeks. During this time students will study 10 topics. Each topic will require a combination of self-study, interaction with your classmates and course facilitators and the submission of required assignments. Topics are divided into lessons and each topic has at least one associated assignment. Some may have more. Registered students should be prepared to allocate approximately 5 hours of work per week to read the course lessons and assigned textbook chapters, participate in the online class discussions and complete the assignments. Many of you may want to also visit the recommended external Websites. The course format is quite flexible in that it allows students to work on the lessons at the times they find most convenient. However, it is also structured in that participants are required to follow a schedule and keep up with the rest of the class. |
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The schedule for the 10 topics and corresponding assignments can be found in the table below: |
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Topic |
Duration |
Assignments/Exercises |
1.
The Economic Problem |
1week |
| 1. |
Send an introductory email to everyone in the class. |
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Send a brief email note to the course facilitators with a question about the course, a technical problem or eLearning in general. |
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Access the course Discussion Board, post a short comment about your learning expectations and then respond to a posting from a classmate. |
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Upload a document file to the course Website. |
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2.
Economics as a Social Science |
1week |
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3.
An Overview of the Market Economy |
1week |
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4.
Demand, Supply, and Price |
2week |
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5.
Elasticity |
2week |
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Mid-semester Examination |
1week |
Appear at the assigned testing center at a specified time and date to take the examination. |
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Consumer Behavior |
2week |
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7.
Production and Cost in the Short Run |
1week |
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8.
Production and Cost in the Long Run |
1week |
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9.
Competitive Markets |
2week |
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10.
Monopoly |
1week |
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Final Examination |
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Appear at the assigned testing center at a specified time and date to take the examination. |
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Target Audience |
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This course is designed for Khmer speaking business students either enrolled in one of IICUT’s degree programs or interested in improving their knowledge of basic business concepts and practices. Participants should have access to an Internet connected computer, basic computer skills (typing, email, Web browser and file management) and a good understanding of Khmer. |
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Grading and Student Assessment |
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The grading system for IICUT online students is the same as is used to evaluate and reward IICUT students attending classroom courses at the University in Phnom Penh. Soon after submitting an assignment, instructors will evaluate the student’s work and award a grade. The grade will be posted to the student’s online gradebook with justifications. Students can view the grades on their assignments and exams by visiting the online [Gradebook] page.
In this course, a final grade will be calculated based on the following: |
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Class attendance and participation – 10% |
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Assignments – 20% |
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Mid-semester examination – 20% |
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Final examination – 50% |
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The table below indicates the grades, associated points, description and the score range associated with grades awarded. |
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| GRADE |
POINT |
DESCRIPTION |
PERCENTAGE |
| A |
4 |
High Distinction |
85-100 |
| B |
3 |
Distinction |
75-84 |
| C |
2 |
Credit |
65-74 |
| D |
1 |
Pass |
50-64 |
| CP |
1- |
Conceded Pass |
47-49 |
| F |
0 |
Fail |
47 |
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Textbook |
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The required textbook for this course is: |
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Principles of Economics-First edition, 2005, by Po Bunna
Students can purchase the textbook from IICUT or any CIC. Copies will also be available for loan from any CIC library.
Instructor
Po Bunna
currently occupies the position as vice director and senior lecturer of economics at IIC Univerisity of Technology (IICUT). He graduated with bachelor in economics from Institute of Economics in 1992 and completed successfully a master degree in economics in 1997 from Gadjah Mada University, Indonesia.
He has published many economics textbooks such as Principles of Microeconomics, Principles of Macroeconomics, Intermediate Macroeconomics, Microeconomics: Problems and Solutions, Macroeconomics: Problem and Solution, International Economics, Industrial Economics, Money, Banking, and Financial Markets.
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Admission
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