EF3442 Intermediate Microeconomics

Students who plan to choose EF4473 International Trade, EF4480 Industrial Organization, EF4481 Regulatory Economics, and EF4490 Urban Economics are recommended to take EF3442 instead of EF3440 Microeconomics for Business Strategy as pre-requisite.

Part I

Course Duration: One Semester
Credit Units: 3
Level: B3
Medium of Instruction: English
Prerequisites: FB2400 Economics I
Precursors: EF2452 Mathematics for Economics and Finance
Equivalent Courses:
EF3440 Microeconomics for Business Strategy
EF3440A Microeconomics for Business Strategy
Exclusive Courses: Nil

Part II

Course Aims
This course aims at equipping students with in-depth understanding of microeconomic concepts, analyses, and their applications in the real world.

Course Intended Learning Outcomes (CILOs)
Upon successful completion of this course, students should be able to:

No.

CILOs

Weighting
(if applicable)

1.

Demonstrate a solid understanding of the traditional microeconomic theory of individuals’ and firms’ behaviours

25%

2.

Apply economic theories to real-world decision making in various business environments

25%

3.

Analyze, and predict the outcome of, strategic interactions among individuals and/or firms

25%

4.

Comprehend and explain the economic importance of market imperfections, such as transactions costs, uncertainty, asymmetric information, and externalities

25%

Teaching and Learning Activities (TLAs)
(Indicative of likely activities and tasks designed to facilitate students' achievement of the CILOs. Final details will be provided to students in their first week of attendance in this course)

CILO No.

TLAs

Hours/week (if applicable)

CILO 1

Lectures & tutorials, in-class discussions, assignments

2 hours lecture and 1 hour tutorial per week

CILO 2

Lectures & tutorials, in-class discussions, assignments

2 hours lecture and 1 hour tutorial per week

CILO 3

Lectures & tutorials, in-class discussions, assignments

2 hours lecture and 1 hour tutorial per week

CILO 4

Lectures & tutorials, in-class discussions, assignments

2 hours lecture and 1 hour tutorial per week

Assessment Tasks/Activities
(Indicative of likely activities and tasks designed to assess how well the students achieve the CILOs. Final details will be provided to students in their first week of attendance in this course)

Final examination (2 hours)50%
Coursework　
     Midterm examination 30%
     Participation to class discussion10%
     Homework assignments 10%
Total 100%

CILO No.

Type of assessment tasks/activities

Weighting
(if applicable)

Remarks

CILO 1

Multiple choice questions, homework assignments

　

　

CILO 2

Multiple choice and essay questions, homework assignments

　

　

CILO 3

Multiple choice and essay questions, homework assignments

　

　

CILO 4

Multiple choice and essay questions, homework assignments

　

　

Grading of Student Achievement:

Letter Grade

Grade Points

Grade Definitions

Remarks

A+
A
A-

4.3
4.0
3.7

Excellent

Strong evidence of firm grasp of the subject knowledge and achieving the stated CILOs

B+
B
B-

3.3
3.0
2.7

Good

Sufficient evidence of achieving the stated CILOs

C+
C
C-

2.3
2.0
1.7

Adequate

Some evidence of achieving the stated CILOs

D

1.0

Marginal

Marginal familiarity with the subject knowledge

F

0.0

Failure

Little evidence of familiarity with the subject knowledge

Part III

Keyword Syllabus:
Supply and demand, Indifference curves, Production costs, Perfect vs. Monopolistic competition, Oligopoly, Game theory, Pricing strategies, Asymmetric information, and Market failure.

Related Links
Department of Economics and Finance