Course title |
Principle of Economics (with Recitation) (1) |
Semester |
107-1 |
Designated for |
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Instructor |
JOSEPH TAO-YI WANG |
Curriculum Number |
ECON1004 |
Curriculum Identity Number |
303E13111 |
Class |
04 |
Credits |
4.0 |
Full/Half Yr. |
Full |
Required/ Elective |
Elective |
Time |
Monday 5(12:20~13:10) Wednesday 5(12:20~13:10) Friday 3,4,5(10:20~13:10) |
Remarks |
The upper limit of the number of students: 250. The upper limit of the number of non-majors: 150. |
Ceiba Web Server |
http://ceiba.ntu.edu.tw/1071ECON1004_04 |
Course introduction video |
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Table of Core Capabilities and Curriculum Planning |
Association has not been established |
Course Syllabus
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Please respect the intellectual property rights of others and do not copy any of the course information without permission
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Course Description |
[For the complete info, please refer to http://homepage.ntu.edu.tw/~josephw/principles_micro_18F.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 intermediate 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) |
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Office Hours |
Fri. 13:20~14:20 |
Designated reading |
Textbook: Mankiw, Principles of Economics, 8th ed., Cengage Technology Edition (CTE), 2017.
Reference: Acemoglu, Laibson and List, Economics, 2nd ed., Pearson, 2018. |
References |
Reference: Yoram Bauman, Stand-Up Economics: The Micro Textbook, Freely
Available Online, 2009.
Comics: Bauman and Klein (2010), Cartoon Introduction to Economics, Vol.1: Microeconomics, Hill and Wang. |
Grading |
No. |
Item |
% |
Explanations for the conditions |
1. |
Classroom Experiment Participation |
15% |
Weekly classroom experiments are conducted. If you earn more than 15%, you get earn one extra credit as a “tie-breaker.” |
2. |
Homework |
5% |
Assignment (3%): Not turning in homework costs 1% each (up to 3%).
Contest (2%): Propose “Economics in the News” problems for Midterm and Final Exams in groups. You need one qualified problems to earn 1% for each exam. Winner’s problem will appear in the actual exam as bonus question, so try your best! |
3. |
Quiz |
10% |
One quiz (5% each) is conducted before each exam (10/19 and 1/4). |
4. |
Midterm |
30% |
11/9, 10:20am-1:10pm in class. Request of absence must be submitted in writing before 10am exam day (except for emergencies). |
5. |
Final |
40% |
1/11, 10:20am-1:10pm in class. Request of absence must be submitted in writing before 10am exam day (except for emergencies). |
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Week |
Date |
Topic |
Week 1 |
9/10,9/12,9/14 |
Ten Principles of Economics
Production Possibility Frontier
Gains from Trade |
Week 2 |
9/21 |
Supply and Demand |
Week 3 |
9/28 |
Elasticity; "Fixing" the Market? Bad Idea! |
Week 4 |
10/05 |
Markets and Welfare: Application to Taxation |
Week 5 |
10/12 |
Markets and Welfare: Application to Trade |
Week 6 |
10/19 |
Quiz 1 (Ch. 1-9) |
Week 7 |
10/26 |
Classical Market Failure: Externalities |
Week 8 |
11/02 |
Classical Market Failure: Public Goods and Common Resources |
Week 9 |
11/09 |
Midterm (170 minutes: 10:20am-1:10pm) - Ch.1-11. |
Week 10 |
11/16 |
Cost of Production |
Week 11 |
11/23 |
Competitive Markets |
Week 12 |
11/30 |
Monopoly |
Week 13 |
12/07 |
Monopolistic Competition |
Week 14 |
12/14 |
Oligopoly |
Week 15 |
12/21 |
Factor Markets; Wage Differentials and Discrimination |
Week 16 |
12/28 |
Frontiers of (Micro-)Economics |
Week 17 |
1/04 |
Quiz 2 (Ch. 13-22) |
Week 18 |
1/11 |
Final Exam (170 minutes: 10:20am-1:10pm) - Cumulative, but focus on the second half (Ch. 13-22). |