Chapter 00 Microeconomics Course Introduction - General

7/9/2023
Course Description
2
Course Title : Microeconomics

Course Code : ALD2101
Course Credit/Hr : 03
Course Introduction Course Duration : 6 Months
Program : Bachelor of Business Administration (BBA)
Md. Kaysher Hamid nd st
Year & Semester : 2 Year & 1 Semester
Batch & Section : BBA 2022 A & B
Md. Kaysher Hamid © MKH BUP 2023
1 2
Course Instructor Class Schedule

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Name : Md. Kaysher Hamid

Designation : Assistant Professor
Affiliation : Department of Business Administration-General, FBS, BUP Section Monday Wednesday
Qualification BBA & MBA in Finance & Banking
:
Jahangirnagar University Room: CR 1201 Room: CR 1202
Previous Courses : Fundamentals of Finance, Financial Management, A
Time: 0830-1000 Time: 1015-1145
Managerial Finance, Banking & Insurance, Working Capital
Management, Financial Institutions & Markets,
International Business Environment, Microeconomics,
Macroeconomics, Business Economics, Business Research Room: CR 1104 Room: CR 1202
Methodology B
Email : kaysher@bup.edu.bd
Time: 1015-1145 Time: 1200-1330
Contact No : +88-01769028351
Office Address : FBS Tower, 13th Floor, Room No. 1305
Office Hour : 0800-1430 hrs
Md. Kaysher Hamid © MKH BUP 2023 Md. Kaysher Hamid © MKH BUP 2023
3 4
7/9/2023
Books Course Assessment

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• Text Book
Particulars Marks Distribution
Principles of Microeconomics, N. Gregory Mankiw, 9th Edition,
Cengage Learning Class Attendance 10%
Assignments/Case Studies and In-Class
10%
• Reference Book Participation
Microeconomics, Michael Parkin, 13th Edition, Pearson Class Tests (Total Four) 10%
Microeconomics, David C. Colander, 11th Edition, McGraw Hill Mid Term Examinations 20%
Project Paper/Term Paper (Individual), Including
10%
Presentation
Semester Final Exam 40%
Total 100%
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Grading System Course Description

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Numerical Grade Letter Grade Grade Point • The course provides an introduction to a core area of economics known as
80% and above A+ (A Plus) 4.00 microeconomics.

75% to < 80% A (A Regular) 3.75
• It considers the operation of a market economy and the problem of how best
70% to < 75% A- (A Minus) 3.50
65% to < 70% B+ (B Plus) 3.25 to allocate society's scarce resources.
60% to < 65% B (B Regular) 3.00
• The course considers the way in which various decision-making units in the
55% to < 60% B- (B Minus) 2.75
50% to < 55% C+ (C Plus) 2.50 economy (individuals and firms) make their consumption and production
45% to < 50% C (C Regular) 2.25 decisions and how these decisions are coordinated.
40% to < 45% D 2.00
< 40% F 0.00
--------------------- I Incomplete
--------------------- W Withdrawn
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Course Objectives Learning Outcomes

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• This course aims to provide students with a theoretical structure for • On successful completion of this course, students will be able to:
analyzing and understanding economics as it relates to individuals and firms.
o Describe the nature of scarcity and its implications for decision making,
• It would attempt to develop an understanding of the framework that
economists use to analyze choices made by individuals and firms in response o Understand how supply and demand determine equilibrium prices and
to incentives and consider how these choices can also serve the social quantities
interest.
o Evaluate the costs and benefits of government policies that affect
• The course introduces students to models of how individuals and firms
interact within markets, when markets fail, and how government policy may economic incentives and behavior.
improve outcomes for society. o Comprehend the concept of elasticity.
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Learning Outcomes Course Conduct Methodology

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• On successful completion of this course, students will be able to: • Class Lecture
• Class Discussion
o Identify profit-maximizing production levels using cost and revenue
• In class and off-the class assignment
analysis.
• Term-paper
o Describe how output and price are determined in imperfect, monopoly,
• Individual and Group Presentation
and perfectly competitive markets.
o Understand the theory of consumer choice
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Lecture Plan Lecture Plan

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• Chapter 01: Basic Principles of Economics • Chapter 02: Thinking Like an Economist
 How People Make Decisions  Economic Models
 How People Interact  The Economist as Policy Adviser
 How the Economy as a Whole Works  Why Economists Disagree
13 14

15 16
• Chapter 03: The Market Forces of Supply and Demand • Chapter 04: Elasticity and its Application
 Demand Curve  The Elasticity of Demand
 Supply Curve  The Elasticity of Supply

 Supply and Demand Equilibrium  Applications of Supply, Demand, and Elasticity
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7/9/2023

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• Chapter 05: Supply, Demand, and Government Policies • Chapter 6: Consumers, Producers, and the Efficiency of Markets
 How Price Ceilings Affect Market Outcomes  Consumer Surplus
 How Price Floors Affect Market Outcomes  Producer Surplus
 How Taxes on Sellers Affect Market Outcomes  Market Efficiency
 How Taxes on Buyers Affect Market Outcomes
17 18

19 20
• Chapter 7: Externalities • Chapter 7: The Costs of Production
 Positive and Negative Externalities  Total Revenue, Total Cost, and Profit
 Public Policies toward Externalities  Economic Profit versus Accounting Profit
 Private Solutions to Externalities  The Production Function
 Relationship between Short-Run and Long-Run Average Total

Cost
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7/9/2023

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• Chapter 8: The Theory of Consumer Choice • Chapter 9: Firm Behavior in Different Market Structures
 The Budget Constraint: What a Consumer Can Afford  Competitive Market
 Preferences: What a Consumer Wants  Monopoly
 The Consumer’s Optimal Choices  Monopolistic Competition
 How Changes in Income Affect the Consumer’s Choices  Oligopoly
21 22
Lecture Plan Class Attendance

23 24
• Presentations • Be on time
• Review Class • Each class will start on time 10%
• Supplementary Test • I will try to be in classroom a few minutes ahead
• Don’t enter into class after me and don’t leave before me
• If you are not in the class for any reason, you will not get any attendance
• About BUP related reasons????
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7/9/2023
Attitude/Conduct/Manner Assignments/Home Works

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• Be in proper attire • Individual and Group

• Bring your text-books and necessary class materials
• No copying 10%
• You are discouraged to leave your desk and classroom during the class
• Late submission is not encouraged
• Washroom necessities should be satisfied before or after the class
o On Deadline (100%), Next Class (50%), Otherwise
• Using Mobile phone during the class is not allowed
(0%)
• Eating in the classroom is prohibited
• No gossiping, side-taking, note passing, poking, & fighting
• Maintain a respectful class environment
• Know your shoes!
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Class Tests Class Tests

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• Question Types • Demonstrate appropriate behavior during the exams
 True/false 10% • No mobile phone, smart watch, or any other non-permissible 10%
 Fill in the blanks electronic device
 Multiple choice • Don’t keep your belongings with you

 Short answer • No cheating of any type
 Essay questions
• No side-talking
• Not allowed to leave the room during the exam
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7/9/2023
Mid Term Examination Term Paper

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• Same instructions as Class Tests • Group Work
• Answer 4 questions out of 5 questions 20% • 4/5 members per group 10%
• Different topics or Same topic with different scopes
• 1 hour exam
• No copying
• Syllabus: 3-4 Chapters
• General instructions in preparing the term paper would include:
o The report will be in Times New Romans, font size of 12-14, line spacing of 1.15
o Page Limit is 20 A4 pages and normal margin should be maintained in each page
o Student should organize the report in standard manner
o APA referencing style (6th Edition) should be used for citing different sources
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Final Exam Academic Honesty

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• 5 out of 6 question sets • Academic misconduct includes, but are not limited to, the followings:
• Each question set will have questions from different 50% o Copying any material from another student or from another source that is
submitted for grading unless the instructor gives explicit permission to
chapters
do so. If material is copied all sources used must be correctly cited.
• All chapters will be included
o Using cell phones or other unauthorized aids to obtain outside
information during an exam without explicit permission from the
instructor.
o Removing exam material from the classroom or faculty’s office without
permission.
o Submitting own work in one class that was completed for another class.
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7/9/2023
Disability Statement Course Dis-collegiate Policy

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If you are a student with documented disability and wish to request • Students are expected to be regular in the course. However,
reasonable accommodations for this course, contact me to discuss the o Class attendance of about 85% and above will be considered as
specific modifications. Collegiate (Regular).
o 75-84% will be considered as Non-collegiate (Tk 5000 penalty) and
o Less that 75% will be considered as Dis-collegiate. The dis-

collegiate students won’t be able to participate in the final exam.
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Course Materials Late Policy

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• Students can download the lecture slides from Google Classroom. • If late, none will be allowed to participate in the class. However, students
coming late by ten minutes or less might get permission to attend provided a
• Related readings from the text books for different chapters are indicated
valid reason.
in the reference section of the lecture plan.
• Late submission of assignment, term paper, or other academic works are
• Copies of additional resources will be provided on timely basis.
highly discouraged. Submission on deadline will be evaluated for 100%
• Articles from different official websites, newspaper, and journals will be marks, immediate next class submission will be evaluated for 50% marks,
provided when discussing relevant topics. and after that the submission will carry zero marks.
• In final exam, after an hour of the commencement of exam, no one will be

https://bupedubd-
my.sharepoint.com/:f:/g/personal/kaysher_bup_edu_bd/EjyrH9tp2xBEr_GL5UT7 allowed to seat for the exam. In special cases, students may be allowed to
TKsB5QXPGd02bw94RMgKJzamAA?e=8ZQ7jy
seat for the exam with valid reason.
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7/9/2023
Make-up Procedure Policy on Grade Appeal

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• Any missed class, due to unavoidable circumstances, will be accommodated • The Controller of Examination of BUP reserves the right to arrange re-
in Saturday or Week-days (if possible). The program office will schedule the scrutiny of a student’s script or re-evaluation of grading, if the student
make-up class. submits an application to Controller of Examination within one week of
• There will be no make-up class test or mid-term exam except for sickness, publication of provisional results.
hospitalization, or other unavoidable circumstances provided the student has

valid supporting documents.
• Student may sit for the supplementary final examination upon the permission
of the Chairman of department.
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Recommended Web Sources Additional Instructions

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• https://thefinancialexpress.com.bd/ (The Financial Express, Bangladesh) • Be professional
• http://bonikbarta.net/bangla/ (Bonik Barta, Bangladesh) • Every problem is discussable
• http://sharebiz.net/ (Share Biz, Bangladesh) • If you have any problem, talk to me
• http://online.wsj.com/home-page?mg=com-wsj (Wall Street Journal) • I am open to listening to your suggestions and complains
• http://asia.wsj.com/home-page (Wall Street Journal Asia in English)
• http://finance.yahoo.com/ (Yahoo Finance, the U.S.)
• http://money.cnn.com/ (CNN Money, the U.S.)
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7/9/2023
Activities
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• Join in Google Classroom
• Buy or collect the textbook(s)
• Review the syllabus
41 42
43
Md. Kaysher Hamid © MKH BUP 2023
43

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7/9/2023

Course Title : Microeconomics

Md. Kaysher Hamid © MKH BUP 2023

Course Instructor Class Schedule

Name : Md. Kaysher Hamid

Books Course Assessment

Grading System Course Description

80% and above A+ (A Plus) 4.00 microeconomics.

Course Objectives Learning Outcomes

improve outcomes for society. o Comprehend the concept of elasticity.

Learning Outcomes Course Conduct Methodology

o Understand the theory of consumer choice

Lecture Plan Lecture Plan

 How People Make Decisions  Economic Models

 How People Interact  The Economist as Policy Adviser

 How the Economy as a Whole Works  Why Economists Disagree

Lecture Plan Lecture Plan

 Demand Curve  The Elasticity of Demand

 Supply Curve  The Elasticity of Supply

Lecture Plan Lecture Plan

 How Price Ceilings Affect Market Outcomes  Consumer Surplus

 How Price Floors Affect Market Outcomes  Producer Surplus

 How Taxes on Sellers Affect Market Outcomes  Market Efficiency

 How Taxes on Buyers Affect Market Outcomes

Lecture Plan Lecture Plan

• Chapter 7: Externalities • Chapter 7: The Costs of Production

 Public Policies toward Externalities  Economic Profit versus Accounting Profit

 Private Solutions to Externalities  The Production Function

 Relationship between Short-Run and Long-Run Average Total

Lecture Plan Lecture Plan

 The Budget Constraint: What a Consumer Can Afford  Competitive Market

 Preferences: What a Consumer Wants  Monopoly

 The Consumer’s Optimal Choices  Monopolistic Competition

 How Changes in Income Affect the Consumer’s Choices  Oligopoly

Lecture Plan Class Attendance

• Review Class • Each class will start on time 10%

• Supplementary Test • I will try to be in classroom a few minutes ahead

• Don’t enter into class after me and don’t leave before me

• About BUP related reasons????

Attitude/Conduct/Manner Assignments/Home Works

• Be in proper attire • Individual and Group

• No gossiping, side-taking, note passing, poking, & fighting

• Maintain a respectful class environment

• Know your shoes!

Class Tests Class Tests

• Question Types • Demonstrate appropriate behavior during the exams

 Multiple choice • Don’t keep your belongings with you

• Not allowed to leave the room during the exam

Mid Term Examination Term Paper

• Same instructions as Class Tests • Group Work

o Student should organize the report in standard manner

Final Exam Academic Honesty

Disability Statement Course Dis-collegiate Policy

o 75-84% will be considered as Non-collegiate (Tk 5000 penalty) and

o Less that 75% will be considered as Dis-collegiate. The dis-

Course Materials Late Policy

• In final exam, after an hour of the commencement of exam, no one will be

Make-up Procedure Policy on Grade Appeal

hospitalization, or other unavoidable circumstances provided the student has

Recommended Web Sources Additional Instructions

• https://thefinancialexpress.com.bd/ (The Financial Express, Bangladesh) • Be professional

• http://bonikbarta.net/bangla/ (Bonik Barta, Bangladesh) • Every problem is discussable

• http://sharebiz.net/ (Share Biz, Bangladesh) • If you have any problem, talk to me