Course Information
Course title
 Principle of Microeconomics (with Recitation) 
Semester
 110-1 
Designated for
 DEPARTMENT OF INFORMATION MANAGEMENT  
Instructor
 JOSEPH TAO-YI WANG 
Curriculum Number
 ECON1020 
Curriculum Identity Number
 303E10110 
Class
 05 
Credits
 4.0 
Full/Half
Yr.
 Half 
Required/
Elective
 Required 
Time
 Monday 5(12:20~13:10) Wednesday 5(12:20~13:10) Friday 2,3,4(9:10~12:10) 
Remarks
 Restriction: freshmen AND Restriction: students whose last two digits of their student ID are divisible by 5
The upper limit of the number of students: 250.
The upper limit of the number of non-majors: 150. 
  
Course introduction video
 
Table of Core Capabilities and Curriculum Planning
 Table of Core Capabilities and Curriculum Planning
Course Syllabus
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Course Description

9/17 UPDATE: You may add to this course freely (method "1") starting from 9/22. Since the first class is 9/22 (12:20pm) via WebEx, you may sign up on NTU COOL to receive emails regarding the WebEx link (added as auditing).

[For the complete info, please refer to http://homepage.ntu.edu.tw/~josephw/principles_micro_21F.htm ]

This is the introductory class for the principles of microeconomics. It serves as an introduction of economics to an audience that are not familiar with Calculus. (Those who have took Calculus should consider taking microeconomics instead.) One interesting feature of this class is there will be various classroom experiments throughout the semester, and students are expected to participate actively in them.

This is a course taught in English, and all assignments are in English. If you feel that you would be in a disadvantaged position, please take other principles classes instead. 

Course Objective
 The Goal of this class is to introduce how economists think (without the math required for microeconomics), and, help you think like an economist! Specifically, we will see how economists observe real world phenomenon, build simplified models of reality, derive theories to provide policy advice, and test implications with empirical or experimental data. 
Course Requirement
 There are no prerequisites for this course. 
Student Workload (expected study time outside of class per week)
  
Office Hours
 Fri. 12:10~13:00 Note: After class in the classroom, or by email appointment. 
Designated reading
 Mankiw, Principles of Economics, 9th ed., Asian Edition, Cengage, 2021. (東華) 
References
 Acemoglu, Laibson and List (2018), Economics, 2nd ed., Pearson. (雙葉) 
Grading
  
No.
Item
%
Explanations for the conditions
1. 
 Final Exam 
40% 
 1/7, 9:10am-12:10pm in class. File request of absence in accordance to university rules. If you do better in the final than the midterm, it counts as 70% (replacing the midterm). 
2. 
 Midterm Exam 
30% 
 11/12, 9:10am-12:10pm in class. Submit request of absence in writing before 9am exam day (except for emergencies). 
3. 
 Quizzes 
10% 
 One quiz (5% each) before each exam as practice (11/5 and 12/29). 
4. 
 Exam-Giving Contest 
2% 
 Propose in groups "Economics in the News" problems for the Midterm/Final exam (1% each) and your problem may appear in the actual exam! 
5. 
 Homework Assignment 
3% 
 Homework problems appear in the ending slide of each chapter. You are required to hand them in 7 days after they appear in class (online). The "strike-out" rule applies, so not turning in one homework costs 1% each (up to 3%). Since the TA will NOT grade it, try it out yourself instead of copying someone's answers. 
6. 
 Classroom Experiment Participation 
15% 
 In-class experiments happen weekly. If you earn more than 15%, you get a "tie-breaker" which bumps you up one letter grade (A to A+, A- to A, etc.) when you happen to be the highest-scoring person in that grade. 
 
Progress
Week
Date
Topic
Week 1
 9/22, 9/24, 9/27  Ten Principles of Economics (Ch. 1)
Production Possibility Frontier (Ch. 2)
Gains from Trade (Ch. 3) 
Week 2
 10/1  Supply and Demand (Ch. 4) 
Week 3
 10/8  Elasticity (Ch. 5)
Intervening the Market (Ch. 6) 
Week 4
 10/15  Markets and Welfare (Ch. 7)
Application to Taxation and Trade (Ch. 8, 9) 
Week 5
 10/22  Classical Market Failure: Externalities (Ch. 10) 
Week 6
 10/29  Classical Market Failure: Public Goods and Common Resources (Ch. 11) 
Week 7
 11/5  Quiz 1 
Week 8
 11/12  Midterm (Ch. 1-11) 
Week 9
 11/15,17  Cost of Production (Ch. 13) 
Week 10
 11/19  NTU Sports Day Event (University Holiday) 
Week 11
 11/26  Competitive Markets (Ch. 14) 
Week 12
 12/3  Monopoly and Monopolistic Competition (Ch. 15, 16) 
Week 13
 12/10  Oligopoly and Factor Markets (Ch. 17, 18) 
Week 14
 12/17  Wage Differentials and Discrimination (Ch. 19, 20) 
Week 15
 12/24  Frontiers of (Micro-)Economics (Ch. 22) 
Week 16
 12/29  Quiz 2 
Week 17
 1/7  Final Exam (Cumulative, but focus on the second half, Ch. 13-22)