ATENEO DE MANILA UNIVERSITY

LOYOLA SCHOOLS
COURSE SYLLABUS
COURSE NUMBER: EC 111
TITLE :
Intermediate Microeconomic Theory
DEPARTMENT :
Economics
SCHOOL :
Social Sciences
SEMESTER AND SCHOOL YEAR: 2nd Sem 2015-2016
NUMBER OF UNITS: 3
FACULTY :
Clarice Colleen Q. Manuel
SCHEDULE:
12:00 1:00, CTC 216, Mondays, Wednesdays and Fridays
A.

Course Description
This course provides the students with the introductory framework of the business environment
through the study of the market behavior of the consumer and the firm and their interactions in the
market. It includes the mechanism by which resources are allocated, prices determined and income
distributed. This means concentrating on the explanations and evaluation of the operation of the
price policy system as it regulates production, distribution and consumption. Some topics to be
discussed are demand analysis and equilibrium determined in various types of markets.

B.

Learning Outcomes
Upon completing the course, the students must be able to:

Content
1. Identify the behavioral assumptions that economics makes about consumers and firms.
2. Describe the basic models of consumer and firm behavior and how they lead to the derivation
of consumer demand and firm supply curves in the context of markets.
3. Describe how behavior of firms differs under perfect and imperfect market structures.
Skills
1. Graph two-dimensional indifference curves and budget lines; production functions; cost,
revenue, and profit functions.
2. Express economic models in mathematical and game-theoretic terms, and to manipulate these
models using algebra and calculus.
3. Analyze and assess the efficiency and distributional implications of perfectly and imperfectly
competitive markets, government policies aimed at improving welfare and addressing market
failures.
Attitude
1. Apply the microeconomic theories introduced in class to the analysis of real world economic
problems, market structures in the Philippine industries, as well as in personal affairs.
C.

Course Outline
Review of Basic Economics (EC 102)
i. Basic Principles of Economics (Chapter 1)
ii. Supply and Demand (Chapter 2)
iii. Elasticity (Chapter 2)
The theory of Consumer Choice (Chapter 3)

i. Consumer behavior
ii. Preferences
iii. Constraints
iv. Maximizing Utility
Individual and Market Demand (Chapter 4)
i. Income Effects
ii. Substitution Effects
iii. Consumer Surplus
iv. Network Externalities
The theory of the Firm (Chapter 7)
i. Production function
ii. Costs in the short and long run
iii. Production with one variable input (labor)
iv. Returns to scale
Competitive Markets (Chapter 8 and Chapter 9)
i. Profit maximization
ii. Analysis of Competitive Markets
Market Structure and Competitive Strategy (Chapter 10, 11 and 12)
i. Monopoly
ii. Monopolistic Competition
iii. Oligopoly and Duopoly
Markets with Asymmetric Information (Chapter 17)
Externalities and Public Goods (Chapter 18)
*Additional topics may be discussed by the lecturer as the semester progresses.
D. Required reading: Main Textbook
Pindyck, Robert S. and Daniel C. Rubinfeld, 2013. Microeconomics 7Th ed.
New Jersey: Pearson Prentice Hall.
E.

F.

Suggested Readings
Bautista C., Cabiles, N., Domdom, A., Dumlao, L., Francisco, J., de Guzman, N.,
Paderon, M., Perez, M., Tan, R., Alinsunurin, J., Pasimio, H., See, S., Sescon, J., Tuano,
R., 2013. Economics and Society. Quezon City: Ateneo de Manila University Press.

Course Requirements and Grading System

Class Average
Final Examination
Recitation
10%
Final Exam
25%
Quizzes/Homework
15%
TOTAL
25%
Mid-term Exam
25%
Pre-final Exam
25%
TOTAL 75%

G. Grading system
Transmutation Table
92-100
A
85 - 91.9
B+
80 - 84.9
B
75 - 79.9
C+
70 - 74.9
C
65-69.9
D
Below 64.9 F
H. Classroom Policies
Attendance will be checked strictly after the first bell. Tardiness is considered a half cut.
No make-up quizzes/seatwork. No special projects.
Make sure your phones are turned off or in silent mode.
Forward all concerns and questions to the teacher. Chatting with your seatmates is highly
discouraged.
A student may be exempted from taking the final exam when s/he receives a minimum
of B in the pre-final grade.
All requirements should be submitted on the specified time. Non-compliance will result
in a zero in the requirement.
Standard Format for papers: TNR, 12, 1 margins, Double Spaced and A4 paper.
I.

Consultation Hours
Wednesdays and Fridays, 2:00 4:00 PM at the Economics Department
By appointment. Please email me at cmanuel@ateneo.edu for schedules and concerns.