ECONOMICS DEPARTMENT

COURSE SYLLABUS
College:
Department:
Course Code:
Pre-requisite:
Pre-Requisites to:
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Consultation:
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School of Economics
Economics
Introduction to Microeconomics (ECONONE)
COMALGE
ECONTWO, LBYECO1
TH; 9:15 10:45 and 11:00 to 12:30
L110, M406
Dabbay, Maria Fe Carmen L.
TH scheduled upon request
maria.fe.dabbay@dlsu.edu.ph

COURSE DESCRIPTION:
The course aims to give an understanding and appreciation of the basic theories and concepts in economics and their application to
current national and international economic concerns. The focus of the course is on the economic activities of individual decision
making units in society, specifically households and firms. Consumer choice is examined using demand theory and an evaluation of
the economic behavior of firms is conducted using the theory of production and cost and how it behaves under different market
structures. A general understanding of welfare economics caps the course, placing all theories learned within a simple appreciation of
a general equilibrium framework.
School of Economics
Expected Lasallian
Graduate Attributes
(ELGAs)

Learning Outcomes (LOs):

On the completion of the course, the student is expected to be able to do the following

Intellectual Inquisitiveness

LO 1: Acquire a general appreciation of the different economic theories affecting market demand
from the perspective of the market and individual households.

Technical Proficiency

LO 2: Acquire an appreciation of the different economic theories affecting market supply from the
perspective of the firm and different market structures.

Agent of Positive Social

Change

LO 3: Develop good analytical and critiquing skills as well as the capability to write well thought
out-reaction papers on assigned articles related to topics covered in class.
LO 4: Ability to effectively work individually and still be able to contribute creative ideas for
projects worked out as a group.

LEARNING OUTCOME
LO 1 and 2 : Acquire general appreciation of different
economic theories affecting market demand from a
households perspective and those affecting market supply
from a firm perspective
LO 3: Develop good analytical and critiquing skills as well as
the capability to write well thought out-reaction papers on
assigned articles and reflective journals related to topics
covered in class.
LO 4: Ability to effectively work individually and still be able
to contribute creative ideas for projects worked out as a
group.

REQUIRED OUTPUT
Answers to practice
exercises
Critiques and reaction
papers
Journal (Reflective)
activities
Seatworks/exercises
submitted on time

DUE DATE
After discussion of every major topic
indicated in the course outline

After reading every assigned journal

article/empirical research paper.
After discussion of every major topic
indicated in the course outline
Conducted after a series of major
topics covered in class

Examination Results
Project/Term Paper

RUBRIC FOR ASSESSMENT: (for reaction papers, critique, and term paper)
CRITERIA
Category 1:
Contents of
Output
Reaction,
Paper,
Critique,
Term Paper
Category 2:
Methodology
utilized for
analysisExercises and
Term Paper
Category 3:
Analysis and
Evaluation of
Results or
Data
Gathered
Term Paper

EXEMPLARY
(90-100)
The submitted work
manifests qualities which
go beyond the
requirements.

SATISFACTORY
(80-89)
The submitted work
manifests the required
qualities.

DEVELOPING
(60-79)
The submitted work
partially manifests the
required qualities. Certain
aspects are either
incomplete or incorrect.

BEGINNING
(0-59)
The submitted work does
not manifest any of the
requirements.

The submitted work

manifests qualities which
go beyond the
requirements.

The submitted work

manifests the required
qualities.

The submitted work

partially manifests the
required qualities. Certain
aspects are either
incomplete or incorrect.

The submitted work does

not manifest any of the
requirements.

The submitted work

manifests qualities which
go beyond the
requirements.

The submitted work

manifests the required
qualities.

The submitted work

partially manifests the
required qualities. Certain
aspects are either
incomplete or incorrect.

The submitted work does

not manifest any of the
requirements.

RUBRIC FOR PEER ASSESSMENT: (for group activities)

CRITERIA
Engagement,
Reliability to
proactively
contribute
ideas or raise
relevant
questions
Listening;
Respect

Knowledge

Leadership

Teamwork

EXEMPLARY
(90-100)
Can be consistently relied
on to contribute ideas or
raise important questions

SATISFACTORY
(80-89)
Moderately / Reasonably
engaged

DEVELOPING
(60-79)
Contributes some ideas
and questions but tends to
be restrained or passive;
may need prodding

BEGINNING
(0-59)
Very rarely (if at all)
contributes ideas; weakly
engaged

Always respectfully
listens; very open to ideas
of others; asks questions
that facilitate discussions

Usually respectfully
listens and asks
facilitating questions

Has trouble listening with

respect; stifles free
expression of ideas; tends
to dominate discussions

Demonstrates masterful
understanding of key
concepts and theories that
significantly lifts the
quality of the group
output
Pursues opportunities to
lead in ways that are
always helpful to the
group (e.g., encourages
participation,
keeps the group on track,
poses solutions, promotes
positive
attitudes).
Works towards
completion with a
positive attitude; performs

Demonstrates sufficient
understanding of key
concepts and theories;
able to contribute critical
points of view

Demonstrates some
understanding of key
concepts and theories;
weak confidence to
contribute critical views

Stifles productive
discussion; unwilling to
accept ideas contrary to
own; stimulates negativity
in the group discussion
Relies on the knowledge of
others; weak indication of a
desire to contribute to the
theoretical components of
the task

Willing to lead;
effectiveness can be
improved.

Leads if pushed by the

group. Effectiveness of
leadership rather
inconsistent.

Never assumed leadership

or assumed in unproductive
ways (e.g. anarchical,
domaniating).

Usually helps towards

completion of group
goals; performs nearly all

Noticeable lapses in the

adequacy and timeliness
of duties; cannot be relied

Puts group goal attainment

at risk due to major lapses
in the performance of

duties thoroughly; assists

members, keeps group on
track

assigned duties; can be

counted on to provide
assistance if sought

on to assist other
members; slightly pulls
group off track

assigned duties

OTHER REQUIREMENTS:
1.
2.
3.
4.
5.
6.

Assigned reading. Students are expected to have read chapters in required text pertaining to topics scheduled for class
discussion.
Class attendance and active participation in class discussions. Lectures expound on the assigned reading materials
Submission of exercises, assignments and reaction papers on time.
Periodic written examinations and final exam.
Research work that involves gathering data and looking for relevant articles, journals and other academic sources to support
written reports/paper and online discussion forum posts on major topics in the learning plan.
4th Hour Activities.
a. Join and participate online discussion forums (initiated by faculty) about current Philippine and global
microeconomics concerns.
b. Attend seminars/conferences related to any topic/s in the learning plan and write a reaction paper.
c. Watch any microeconomic-related videos/news on Ted Talks (https://www.ted.com) or any other trustworthy
websites and share insights in Facebook group.

GRADING SYSTEM:
Graded Activities/Exams
Quizzes/Problem Sets (20)
Critique/Reaction Papers (10)
Group Project/Term Paper (15)
4th Hour (10)
Midterm Exam
Final Exam
Journal
Total

55%

Passing Mark:

60%

20%
20%
5%
100%

Grade Scale:
96 grade 100
90 grade 95.9
84 grade 89.9
78 grade 83.9
72 grade 77.9
66 grade 71.9
60 grade 65.9
grade < 60

4.0
3.5
3.0
2.5
2.0
1.5
1.0
0.0

LEARNING PLAN:
Learning Outcome
LO 1: Acquire a general appreciation of the
different economic theories affecting market
demand from the perspective of the market
and individual households.
LO 2: Acquire an appreciation of the
different economic theories affecting market
supply from the perspective of the firm and

Topic(s)
Part I : Introduction to Economics
1.

Overview: Definition of
Economics, Basic Questions
in Economics, Economic
Resources, Economic Goals
of a Nation, Different
Economic Systems, Branches

Week
No.
1

Learning Activities
Film Showing
Class Discussions

different market structures.

LO 1: Acquire a general appreciation of the
different economic theories affecting market
demand from the perspective of the market
and individual households.
LO 2: Acquire an appreciation of the
different economic theories affecting market
supply from the perspective of the firm and
different market structures.

of Economics
2. Demand and Supply Analysis:
Law of Demand, Demand
Schedule,
Demand Curve;
Law of Supply, Supply
Schedule, Supply Curve;
Market Equilibrium; Price
Ceiling and Price Floors; Tax
Effects
on
Market
Equilibrium; Elasticities

Trading Game (Market

Experiment)
2-3

Class Discussions
Practice exercises
Graded Activities/Exams
Journal

LO 3: Develop good analytical and

critiquing skills as well as the capability to
write well thought out-reaction papers on
assigned articles related to topics covered in
class.

LO 1: Acquire a general appreciation of the

different economic theories affecting market
demand from the perspective of the market
and individual households.

Part II : Theory of Demand

1.

Utility
and
Demand:
Cardinal
vs
Ordinal
Approach, Total Utility,
Marginal Utility, Law of
Diminishing Returns
2. Indifference
Curves:
Marginal
Rate
of
Substitution; Budget Line;
Income and Substitution
Effects; Normal, Inferiror
and
Giffen
Goods;
Consumer Surplus
MIDTERM EXAM

LO 4: Ability to effectively work

individually and still be able to contribute
creative ideas for projects worked out as a
group.

LO 2: Acquire an appreciation of the

different economic theories affecting market
supply from the perspective of the firm and
different market structures.
LO 4: Ability to effectively work
individually and still be able to contribute
creative ideas for projects worked out as a
group.

LO 2: Acquire an appreciation of the

different economic theories affecting market
supply from the perspective of the firm and
different market structures.
LO 3: Develop good analytical and
critiquing skills as well as the capability to
write well thought out-reaction papers on
assigned articles related to topics covered in
class.

Class Discussions
4-6

Film Showing
Graded activity/exam
Journal

Part III: Theory of Production

1.

2.

Production: Total, Average

and
Marginal
Products;
Average
and
Marginal
Products; Isoquants; Returns
to Scale
Cost : Concept of Cost, Cost
Curves,
Isocosts,
Cost
Minimization in the Long
Run, Producers Surplus

Part IV: Market Structures

1. Perfect Competition :
Characteristics, Profit
Maximizing Condition;
Break-even and Shut- Down
Points
2. Monopoly : Characteristics,
Source of Monopoly Power,
Types of Monopolist, Profit-

Practice Exercises

Game (Simulation of Company

Operations)
7-9
Class Discussions
Practice Exercises
Graded activity/ exam
Journal
10 - 11

Class Discussions
Practice Exercises
Writing of
Reaction Paper/Critique
Project/Term Paper
Journal

LO 4: Ability to effectively work

individually and still be able to contribute
creative ideas for projects worked out as a
group.

Maximizing Condition, Social

Welfare and Monopoly
3. Oligopoly : Characteristics,
Collusive vs. Non-Collusive
Oligopoly, Price leadership
Models, Kinked-Demand
Curve Model
4. Monopolistic Competition :
Characteristics, ProfitMaximizing Condition
Part V: WELFARE
ECONOMICS

12

Market Failure
Externalities
Public Goods
FINAL EXAMINATION

13

TEACHING METHODS/STRATEGIES:
1.
2.
3.

4.
5.

Lectures and Discussions. At the beginning of each topic, introduce a problem that can be solved using basic economic
concepts and/or tools.
Experiments: hands-on activities on demand and supply concepts for integration to lectures and discussions
Present relevant Philippine microeconomic concerns such as:
a. Changes in minimum wage
b. Price fluctuations of basic commodities
c. Imposition of taxes on previously non-taxed goods and services
d. Effect of mergers and acquisitions among players across industries
Practice Exercises and Written Examinations: problem solving on demand, supply, equilibrium price and quantity, consumer
surplus and producer surplus, elasticities, effect of taxes on equilibrium price and quantity, and profit maximizing condition
across market structures.
Written/oral presentations of projects on the application of basic microeconomic concepts and theories.

REFERENCES/SOURCES:
Besanko, D. and Braeutigam (2013). Microeconomics (5th Edition). Hoboken, NJ: Wiley.
Case, K., Fair, R. and Oster, Sharon M. (2013). Principles of Economics (11th edition.). Boston, USA: Pearson.
Krugman, P. and Wells, R. (2014). Microeconomics (4th edition). Worth Publishers.
Mankiw, N. (2014). Principles of Economics (7th Edition). South-Western Cengage Learning.
Pindyck, R. and Rubinfield, D. (2012). Microeconomics (8th edition.). Boston, USA: Pearson.
CLASS POLICIES:
Class policies as provided for by the Student Handbook shall be observed. In addition, faculty may apply their own specific policies.
These shall be discussed during the first meeting of the class.