COLLEGE OF BUSINESS ADMINISTRATION

Course Syllabus
Microeconomics – ECO 200

1. Number of Contact & Credit Hours

Credit: 3 Theory: 3 Lab: 0 Tut: 0
2. Prerequisites: None
3. Instructor Name: Dr. Mohammed Chaker

Instructor Contact Information:

Ext.6520, Office # G52-12
E-mail: m.chaker@ajman.ac.ae
4. Course Catalog Description:
This course is designed to introduce basic economic concepts related to individual
decision makers in the economy-households, business firms, and governments-and how
they interact. Meaning, Nature and methods of economic study are introduced. Supply,
Demand and elasticity are used to analyze consumer and firm behaviors in different types
of markets. Rationale for various public policies designed to modify the workings of
markets will be examined.

5. Course Learning Outcomes:

On completing the course successfully, a student will be able:
a. Describe the basic concepts of microeconomic theory and how they are related;
b. Explain economic theories of demand and supply to predict market phenomenon;
c. Apply the theories of marginal revenue and cost to determine the firm’s profit
maximizing level of output and price;
d. Criticize the different theories of market structure in UAE/GCC;
e. Apply some analytical and critical thinking tools used for decision making;

f. Relate all of the information discussed in the course to the current economic situation; and
 g. Extend the understanding of the ability of a government to influence economic
performance
6. Weekly Plan:
Week Study Unit Title and Contents
1 Ten Principles of Economics
 How people make decisions
 How people interact
 How the economy as a whole
works
2 Thinking Like an Economist
 The economist as scientist
 The economy as policy adviser
 Why economists disagree
 Economic Models
3 The Market Forces of Supply and
Demand
 Demand
 Supply
 Demand and supply together
4&5 Elasticity and Its Application
 The elasticity of demand
 The elasticity of supply
 Income elasticity of demand
 Cross-price elasticity
 Applications of supply, demand,
and elasticity
6 Supply, Demand, and
Government Policies
 Controls on price
 How price ceiling affect market
outcomes
 How price floors affect market
outcomes
7 Consumers, Producers, and the
Efficiency of Markets
 Consumer surplus
 Producer surplus
 Market efficiency
Course Learning
Assignment/Test/
Outcomes
Project/Case study
Chapter (CLO) Achieved
1 Read FYI “Adam Smith and the
Invisible Hand” in the chapter
Prepare responses to the three a, b
Quick Quizzes in the chapter for
class discussion
2
Prepare responses to the first five
questions “Question For Review”
b, e
Handout will be distributed and
team work will be conducted in
class
4 Read the article entitled “Price
Increases after Natural Disaster” in
the chapter a ,b, e
Prepare an answers to questions 4
and 14 at the end of the chapter
“Problems and Applications”
5
Read the article entitled “Energy
Demand: What would induce
consumers to use less gasoline and
electricity” in the chapter
a, b, e
Assigned problems will be announced
in class
6
Read the article in the chapter entitled
“President Chavez versus the Market”
in the chapter a, b, d, g
Handout will be distributed and team
work will be conducted in class
7
Prepare answers to questions 2 and
9 at the end of the chapter b, e
“Problems and Applications”
8 The Theory of Consumer Choice
 The budget constraint: What the
consumer can afford
 Preferences: What the consumer
wants
 Optimizations: What the consumer
chooses
21
Read FYI “Utility: An Alternative
Way to Describe Preferences and
Optimization” in the chapter
a, e
Assigned problems will be
announced in class

9& The Costs of Production 13

10  What are costs? Read and prepare answers to the three
 Production and costs quizzes in the chapter c, e
 The various measures of cost For discussion
 Costs in the short run and in the Handout will be distributed and team
long run work will be conducted in class

11 & Firms IN Competitive Markets 14

12  What is a competitive market?
 Profit maximization and the
competitive firm’s supply curve
 The supply curve in a competitive
market
Prepare answers to all “Questions for
a, c, d, f
Review”, for class discussion
Assigned problems will be announced
in class

13 & Monopoly Market 15

14  Why monopolies arise Read FYI “Why a Monopoly Does Not
 How monopolies make production Have a Supply Curve” in the chapter
and pricing decisions a, c, d, f
 The welfare cost of monopolies
 Price discrimination
 Public policy towards monopolies

15 Monopolistic competition and 16 & 17

oligopoly
 Competition with differentiated Handout will be distributed and team a, c, d, e, f
products work will be conducted in class
 Markets with only a few sellers

16 Review
a, b, c, d , e, f, g
Final Exam

7. Course content (Labs):

Not applicable
8. Course Assessments:

Details of Assessment Methods

Component of Assessment
Marks
Assignments and Quizzes
At the end of each topic or chapter, students will be given hands out 30
(Group work). These include internet cases, case studies, problem
solving, assignments, and quizzes.
Mid-Term Exam: will include multiple choice, true or false, 20
problem solving, essay, and discussion questions.
Second Exam: will include multiple choice, true or false, problem
20
solving, essay, and discussion questions.
Final Exam: will include multiple choice, true and false, problem
30
solving, essay, and discussion questions.
Total 100

9. Grading Policy:

Marks (%) Grade Points

90 – 100 A 4.0
85 – 89 B+ 3.5
80 – 84 B 3.0
75 – 79 C+ 2.5
70 – 74 C 2.0
65 – 69 D+ 1.5
60 – 64 D 1.0
< 60 F 0

10. Textbook and References:

Mankiw, George N., and Mohamed H. Rashwan, Principles of Economics, South
Western; Arab World Edition (3rd Edition), 2017.

Additional References:
a) Samuelson & Nordhaus; Economics; Irwin/MacGrow-Hill, 19th Edition, 2010.
b) J.E. Stiglitz; Economics ; W.W. Norton& Company, 4th Edition, 2006.
c) J. Sloman; Economics; Prentice Hall, 6th Edition, 2007.

Internet and World Wide Web: The Best Web Sites that have anything to do
with Economics:
http://hepg.awl.com/parkin/econ100
http://rfe.wustl.edu/EconFAQ.html(resources for Economics on the internet)
http://www.progress.org/Economlink/ (Economic Link)
11. Required Hardware/Software Recourses
a) Microsoft Office
b) Internet Connection
c) E-Learning: Moodle
d) Data Show

12. Class Attenance Policy :

1. All students are required to attend all class sessions.
2. A class attendance roll call will be taken during every class session.
3. The University rules and regulations covering class attendance will be applied.
4. Permission will be given to students who have special reasons such as illness, funeral,
or police cases.