Basic Microeconomics ISO Syllabus 2025.doc
- 1. Republic of the Philippines UNIVERSITY OF EASTERN PHILIPPINES University Town, Northern Samar Web: http://uep.edu.ph; Email: uepnsofficial@gmail.com COLLEGE OF BUSINESS ADMINISTRATION Bachelor of Science in Business Administration major in Marketing Management Syllabus in Basic Microeconomics 2nd Semester, SY 2024-2025 UNIVERSITY VISION A globally competitive university producing graduates in pursuit of higher economic welfare of the people and the community through inclusion and cooperation from the stakeholders. UNIVERSITY MISSION Provide technical and professional training, advanced instruction in literature, arts, philosophy, the sciences and promotion of innovation, scientific and technological researches. UNIVERSITY GOALS To continually explore better opportunities to enhance instruction, research, extension and production through linkages that will optimize utilization of resources of both government and non-government institutions. UNIVERSITY OBJECTIVES 1. To expand the human resource development by providing necessary learning and development to all faculty and staff for global competitiveness; 2. To enrich student development through enhancing academic programs; 3. To develop research, development, and extension programs towards poverty reduction through food security, environment, livelihood and employment; 4. To rationalize the university’s financial expenditures; 5. To improve the physical resources necessary and available to support the university fulfill its programs, projects and activities; and to improve the INSTITUTIONAL GRADUATE OUTCOMES Graduate of the University of Eastern Philippines should: 1. Exhibit proficiency in their chosen field of discipline through their involvement in various types of employment; 2. Utilize research methodologies that will allow them to generate new knowledge and address problems and issues and promoted development; 3. Values Philippine historical and cultural heritage; 4. Demonstrate global awareness through responsible global citizenship; 5. Clearly communicate in several modes of delivery (oral, written, and visual) in English and Filipino; and 6. Manifest high degree of professionalism through observation of ethical and professional behavior. COLLEGE GOALS To provide quality education through instruction, research, extension and production in the fields of Accountancy, Business Economics, Cooperatives, Entrepreneurship, Management, Marketing, Hotel and Restaurant Management, and other business- related courses. PROGRAM OUTCOMES COMMON TO BUSINESS AND MANAGEMENT DISCIPLINE: A graduate of a business or management degree should be able to: Perform the basic functions of management such as planning, organizing, staffing, directing and controlling. Apply the basic concepts that underlie each of the functional areas of business (marketing, finance, human resource management, production and operations management, information technology, and strategic management). Select the proper decision-making tools to critically, analytically, and creatively solve problems and drive results. DOCUMENT NO.: UEP-ODFI-FM-009 REVISION NO.: 00 EFFECTIVITY DATE: SEPTEMBER 12, 2022
- 2. efficiency and effectiveness of administrative systems and accountability for performance. PROGRAM OUTCOMES COMMON TO BUSINESS AND MANAGEMENT DISCIPLINE (CONTINUED): Express oneself clearly and communicate effectively with stakeholders both oral and written forms. Apply information and communication technology (ICT) skills as required by the business environment. Work effectively with other stakeholders and manage conflict in the workplace. Plan and implement business related activities. Demonstrate corporate citizenship and social responsibility. Exercise high personal and moral ethical standards. PROGRAM OUTCOMES A graduate of a business administration degree should be able to: 1. Analyze the business environment for strategic direction. 2. Prepare operational plans. 3. Innovate business ideas based on emerging industry. 4. Manage a strategic business unit for economic sustainability. 5. Conduct business research. Course Title: Basic Microeconomics Course Credits: 3 units Contact Hours/Week: 18 weeks/54 hours Course Description: This course emphasizes the nature and importance of price system, economic analysis, specifically supply and demand analysis, costs and production analysis, elasticity and the different market structures in a free enterprise economy. DOCUMENT NO.: UEP-ODFI-FM-009 REVISION NO.: 00 EFFECTIVITY DATE: SEPTEMBER 12, 2022
- 3. Prerequisite: None Course Learning Outcomes Upon completion of the course, students should be able to: Knowledge 1. Demonstrate an understanding of the basic fundamentals of price theory and economic analysis. 2. Demonstrate an understanding of the importance of microeconomic theory and the interaction between supply and demand. 3. Analyze consumer behavior, production and cost theories. 4. Analyze different market structures such as pure competition, imperfect competition, oligopoly and monopoly. 5. Describe the concepts of welfare and equilibrium. Skills 1. Prepare supply and demand analysis for a particular product or service. 2. Establish small business suitable to the need and economic conditions of their respective localities. 3. Specify approaches in the determination of price and output of the different market structures. 4. Apply the theories, concepts, principles, techniques and tools of microeconomic in actual practice to respond to the various problems in the business environment. Values 1. Appreciate the laws on consumers protection and all trade laws, rules and regulations. 2. Emphasize the love of countrymen as a motivating factor to produce goods and services rather than monetary or quest for profit. 3. Appreciate the social responsibility of business in terms of prices and quality of the products and services. Number of Hours: 3 hours every week for 18 weeks or 54 hours in a semester COURSE OUTLINE AND TIMEFRAME Weeks Course Content/Subject Matter 1 Orientation of the Course (Course Description, Objectives and Requirements); Classroom Rules of Conduct; and Grading System 2-3 Economics and Important Terminologies Defined 4-5 Resource Utilization 6-7 Demand, Supply and Equilibrium DOCUMENT NO.: UEP-ODFI-FM-009 REVISION NO.: 00 EFFECTIVITY DATE: SEPTEMBER 12, 2022
- 4. 8-9 Consumer Behavior 9 MIDTERM EXAMINATION 10-11 Cost/Market/Market Segmentation/Target Market/Market Share 12-13 Porter’s Five Forces Model/Market Structures 14-15 Measuring National Income 16-17 Money and Monetary Policy 18 FINAL EXAMINATION E-Commerce Learning Plan Learning Outcomes Topic Method Resources Assessment To give students orientation of the course and discuss classroom policies. Course Description Course Objectives Course Requirements Classroom Rules of Conduct Grading System Lecture and discussion Syllabus University Code Student’s Handbook None Discuss important terminologies related to economics and microeconomics 1. Economics and Important Terminologies Defined a. Economics b. Scarcity/Law of Scarcity c. Types of Demands d. Opportunity Cost e. Factors of Production f. Three Basic Economic Questions Lecture and discussion Video presentation on Economic Theory Introduction Microeconomics by Cristobal M. Pagoso, Rosemary P. Dinio and George A. Villasis Principles of Microeconomics, 6th Edition, by Mankiw N. Gregory. Short Quiz Activity/Exercise/Case Study DOCUMENT NO.: UEP-ODFI-FM-009 REVISION NO.: 00 EFFECTIVITY DATE: SEPTEMBER 12, 2022
- 5. g. Market and Market Segmentation h. Economic Systems i. Absolute Advantage vs Comparative Advantage j. Positive and Normative Economics k. Microeconomics l. Macroeconomics Discuss and explain concepts related to resource utilization 2. Resource Utilization a. Production b. Production Possibilities Curve c. Full Production d. Production Efficiency e. Distribution f. Consumption g. Law of Increasing Opportunity Cost Lecture and discussion Introduction Microeconomics by Cristobal M. Pagoso, Rosemary P. Dinio and George A. Villasis Principles of Microeconomics, 6th Edition, by Mankiw N. Gregory. Short Quiz Activity/Exercise/Case Study Discuss and explain the Demand, Supply, and Equilibrium 3. Demand, Supply, and Equilibrium a. Law of Demand b. Determinants of Demand c. Law of Supply d. Determinants of Supply e. Equilibrium f. Elasticity of Demand g. Elasticity of Supply Lecture and discussion Introduction Microeconomics by Cristobal M. Pagoso, Rosemary P. Dinio and George A. Villasis Principles of Microeconomics, 6th Edition, by Mankiw N. Gregory. Short Quiz Activity/Exercise/Case Study Discuss and explain Consumer Behavior 4. Consumer Behavior a. Utility b. The Water Diamond Paradox c. Consumer Behavior Lecture and discussion Classroom games Introduction Microeconomics by Cristobal M. Pagoso, Rosemary P. Dinio and George A. Villasis Principles of Microeconomics, 6th Edition, by Mankiw N. Gregory. Short Quiz Activity/Exercise/Case Study DOCUMENT NO.: UEP-ODFI-FM-009 REVISION NO.: 00 EFFECTIVITY DATE: SEPTEMBER 12, 2022
- 6. d. Consumer’s Buying Decision Process e. Types of Buying Decision Behavior Discuss and explain Cost, Market, Market Segmentation, Target Market and Market Share 5. Cost, Market, Market Segmentation, Target Market and Market Share a. Types of Cost b. Law of Diminishing Returns c. Economies of Scale d. Types of Market e. Market Segmentation f. Target Market g. Market Share Lecture and discussion Classroom games Introduction Microeconomics by Cristobal M. Pagoso, Rosemary P. Dinio and George A. Villasis Principles of Microeconomics, 6th Edition, by Mankiw N. Gregory. Short Quiz Activity/Exercise/Case Study Exercises Discuss and Explain Porter’s Five Forces Model and the different Market Structures 6. Porter’s Five Forces Model and the different Market Structures a. Porter’s Five Forces Model b. Perfect Competition c. Monopolistic Competition d. Oligopoly e. Monopoly Lecture and discussion Case Studies Introduction Microeconomics by Cristobal M. Pagoso, Rosemary P. Dinio and George A. Villasis Principles of Microeconomics, 6th Edition, by Mankiw N. Gregory. Short Quiz Activity/Exercise/Case Study Discuss and Explain Measuring National Income 7. Measuring National Income a. Gross Domestic Product b. Methods in Measuring GDP c. Economic Growth d. Gross National Income Lecture and discussion Classroom Games Introduction Microeconomics by Cristobal M. Pagoso, Rosemary P. Dinio and George A. Villasis Principles of Microeconomics, 6th Edition, by Mankiw N. Gregory. Short Quiz Activity/Exercise/Case Study DOCUMENT NO.: UEP-ODFI-FM-009 REVISION NO.: 00 EFFECTIVITY DATE: SEPTEMBER 12, 2022
- 7. Discuss and Explain Money and Monetary Policy 8. Money and Monetary Policy a. Barter b. Origin of Money c. Types of Banks d. Central Banking in the Philippines e. Monetary Policy Lecture and discussion Introduction Microeconomics by Cristobal M. Pagoso, Rosemary P. Dinio and George A. Villasis Principles of Microeconomics, 6th Edition, by Mankiw N. Gregory. Short Quiz Activity/Exercise/Case Study Course Map Learning Outcomes A. INTELLECTUAL COMPETENCIES (Knowledge) 1. Perform the basic functions of management such as planning, organizing, staffing, directing and controlling. L 2. Apply the basic concepts that underlie each of the functional areas of business (marketing, finance, human resource management, production and operations management, information technology and strategic management and employ these concepts in various business situations. L 3. Analyze the business environment for strategic direction. L 4. Plan and implement business related activities. O 5. Innovate business ideas based on emerging industry. O 6. Conduct business research. P B. PRACTICAL SKILLS (Skills) 1. Select the proper decision-making tools to critically, analytically and creatively solve problems and drive results. P 2. Express oneself clearly and communicate effectively with stakeholders both in oral and written forms. P 3. Apply information and communication technology skills as required by the business environment. P 4. Prepare operational plan. L 5. Manage a strategic business unit for economic sustainability. O C. PERSONAL AND CIVIC RESPONSIBILITIES (Values) 1. Work effectively with other stakeholders and manage conflict in the workplace. P 2. Demonstrate corporate citizenship and social responsibility. P 3, Exercise high personal moral and ethical standards. P LEGEND: DOCUMENT NO.: UEP-ODFI-FM-009 REVISION NO.: 00 EFFECTIVITY DATE: SEPTEMBER 12, 2022
- 8. L= Learned P= Practiced O= Opportunity to learn Required Reading and Other Materials Introduction Microeconomics by Cristobal M. Pagoso, Rosemary P. Dinio and George A. Villasis Principles of Microeconomics, 6th Edition, by Mankiw N. Gregory. Suggested Readings Exploration of Microeconomics by Robert L. Sexton Microeconomics, 7th Edition, by Robert Pindych and Daniel Rubinfeld Introduction to Microeconomics, 3rd Edition, by Ronald Wonnacott and Paul Wonnacott Website/Videos/Film Clips Youtube – Introduction to Microeconomics; Youtube – Price Theory; Youtube – Demand and Supply; Youtube – The Different Market Structures Class materials Modules; Moodle (UEP’s LMS); Facebook Group Chat Box and Facebook Group RUBRICS (Assignments, Case Studies and Projects) CRITERIA LEVEL OF PERFORMANCE/GRADE EQUIVALENT Poor (2.50-3.0) Satisfactory (1.75-2.25 ) Outstanding (1.00-1.50) Content & Knowledge (30%) Relates the goal of the subject to the presentation but fails to demonstrate full knowledge of the subject matter. Related most of the goals of the presentation and demonstrates knowledge of the subject matter. Related most of the goals of the subject to the presentation & demonstrates knowledge of the subject matter with explanations & elaborations. Organization & Style (30%) Work is hard to follow and there is very little continuity. Information is presented in a logical manner, which is easily followed Information is presented in a logical, interesting way, which is easy to follow. Format & Aesthetics (20%) Mostly consistent format. Figures and table are legible but not convincing. Format is generally consistent including heading style and captions. Format is consistent throughout including heading style & captions. Spelling & Grammar (10%) Several spelling & grammatical errors. Minor misspelling & or grammatical Negligible misspellings and/or DOCUMENT NO.: UEP-ODFI-FM-009 REVISION NO.: 00 EFFECTIVITY DATE: SEPTEMBER 12, 2022
- 9. errors. grammatical errors. References (10%) Inadequate list of references and inconsistent or illogical referencing system Minor inadequacies in references, and there is consistent referencing system. Reference section complete and comprehensive, and there is consistent and logical referencing. Course Requirements 1. Learning Activities (Individual or Group Activities) 2. Quizzes 3. Major Examinations Classroom Policies (Chat Box/Moodle) 1. E-handouts and modules containing topics of the course will be uploaded in the designated class chat box and will be uploaded in the Learning Management System of UEP as well (Moodle). 2. Students should observe the consultation hours set by the subject Professor when sending or posting messages in the chat box. 3. Chat box should only be used for the subject. Students should avoid posting unrelated messages or conversations in the GC. 4. Students should also use their real names on facebook and avoid using pseudonyms or fictitious names. 5. Any student who decides to drop the course (within the allowable period) should submit a copy of the dropping slip to the subject Professor, to be given an official grade of DROPPED. Otherwise, the student receives a grade of 5.0. 6. Students are expected and must do ORIGINAL work for all assignments, case studies or projects. Students are responsible for their own conduct and all cases of dishonesty. Students caught plagiarizing or cheating (in any form) will automatically receive a 5.0 for that quiz, exam, project and assignment. 7. All written reports and assignments should be submitted on the scheduled date. 8. The faculty-in-charge should be notified in case the student will not be able to take any of the major exams. Failure to do so, the student will be given a grade of 5.0 for the missed exam. 9. For any concerns from the class, the class president will be the one to notify the faculty-in-charge of the said concern. 10.Additional topics can also be added to the course based on the Instructor’s expertise and personal preference in teaching this course. Grading System Activities/Recitations – 15% Quizzes – 20% Midterm Exam (Written/Presentation) – 25% Final Exam (Written/Presentation) – 40% TOTAL – 100% Note: zero-based grading shall be applied in the criteria enumerated above. Instructor: MAR L. FORMARAN Consultation Hours: TTH 8:00-11:00AM; 3:00-5:00PM Email Address: marlformaran@gmail.com Contact Number: 09289787222 DOCUMENT NO.: UEP-ODFI-FM-009 REVISION NO.: 00 EFFECTIVITY DATE: SEPTEMBER 12, 2022
- 10. PREPARED BY: MAR L. FORMARAN, MBA, LPT FACULTY CHECKED BY: RUBEN D. RIVERA, MM CHAIR, MARKETING MANAGEMENT APPROVED BY: ATTY. EMILY C. SISON-ACOMPAŇADO, CPA, DPA, JSD COLLEGE DEAN Date: Date: Date: DOCUMENT NO.: UEP-ODFI-FM-009 REVISION NO.: 00 EFFECTIVITY DATE: SEPTEMBER 12, 2022