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Module Information Booklet

Taylors University

Diploma in Business
Business Programmes
August Semester 2016

ECN40104

MICROECONOMICS

CONTENTS
Introduction
Module Overview
Resources
Assessments
Academic Integrity
Individual Assignment
Group Assignment
Module Calendar
Assignment Cover
Assignment Feedback Form
Appendix

INTRODUCTION
WELCOME
Welcome to Microeconomics.
The Microeconomics is designed to provide the candidate with the basic economic concepts and
microeconomics principles. It is intended to help students to master the principles of microeconomics
essential for understanding the economics problem, economic issues and policy alternatives to solve the
economic problems. We hope that this module will promote a lasting interest to all students in economics
and the economy.
We wish you all the best in your studies.

Ms. Marina Mustapha


Lecturer

CONTACT DETAILS
Lecturer/Tutor:
Ms. Marina Mustapha
Block E, Level 9, Wing B
Email: Marina.Mustapha@taylors.edu.my

TELEPHONE EXTENSION: 5679

MODULE OVERVIEW
MODULE SYNOPSIS
This subject is designed to provide the candidate with the basic economic concepts and microeconomic principles. It
covers areas like economic systems, the concepts of demand and supply and market equilibrium, elasticity, costs and
production and issues on price and output determination under perfect and imperfect competitions.

PRE-REQUISITE
None

MODULE OBJECTIVES
1. To introduce to students the various microeconomic theories in understanding the market forces and consumer
behavior.
2. To enable students to analyze and illustrate microeconomic concepts and issues.
3. To provide students with the knowledge of the economists approach to entrepreneurship.

LEARNING OUTCOMES
Upon successful completion of this subject, students will be able to:
1. Demonstrate knowledge and understanding of microeconomic theories and concepts.
2. Apply microeconomic theories and concepts to real-world contexts.
3. Use appropriate skills and techniques in making microeconomic decisions.
4. Analyze microeconomic information from graphical and numerical sources.

TAYLORS GRADUATE CAPABILITIES (TGC)


Upon successful completion of this module, a student should be equipped with the following Taylors graduate
capabilities:

Taylor's Graduate Capabilities - Diploma (2012)


Discipline Specific Knowledge
1.0

TGC: Discipline Specific Knowledge


1.1

Working knowledge of theories in subject area and able to put foundational


concepts into practice.
1.2 Understand ethical issues in the context of the field of study.
1.3 Working knowledge of professional practice within the field of study.
* This TGC is further clarified according to the respective program-specific outcomes.
Cognitive Capabilities
2.0
TGC: Lifelong learning
2.1 Locate and extract information effectively.
2.2 Relate learned knowledge to everyday life.
3.0

TGC: Thinking and Problem Solving skills


3.1 Learn to think critically and creatively.
3.2 Define and analyse problems to arrive at effective solutions.

Soft Skills
4.0

TGC: Communication Skills


4.1 Communicate appropriately in various settings and modes.

5.0

TGC: Interpersonal Skills


5.1

6.0

Understand team dynamics and work with others in a team.

TGC: Intrapersonal Skills


6.1 Manage oneself and be self-reliant.
6.2 Reflect on ones actions and learning.
6.3 Embody Taylors core values.

7.0

TGC: Citizenship and Global Perspectives


7.1 Be aware of and form opinions from diverse perspectives.
7.2 Understand the value of civic responsibility and community engagement.

8.0

TGC: Digital Literacy


8.1 Effective use of Information and Communications Technology (ICT)
and related technologies.

On completion of this module, students should be able to:


Taylors Graduate Capabilities being developed through the module

Module Objectives

To introduce to students the various


microeconomic theories in
understanding the market forces and
consumer behavior.
To enable students to analyze and
illustrate microeconomics concepts
and issues.
To provide students with the
knowledge of the economists
approach to entrepreneurship.

TGC1

TGC2

TGC3

TGC4

TGC5

TGC6

TGC7

TGC8

MODULE DELIVERY/ TEACHING AND LEARNING ARRANGEMENTS


This module is taught by using a blend of learning methods. Class contact time usually consists of a two-hour lecture and a
two-hour tutorial each week. Lectures will usually begin in week 1 and tutorials in week 2. More details can be found in
Taylors University Student Handbook/ Dual Award Program Guide.

Module credit hours:


4 credit hours

RESOURCES
TEXT
Robin Bade and Michael Parkin. Foundation of Economics. Global Edition: 7th Edition. Harlow: Pearson, 2015.

MAJOR REFERENCES
1. David Begg, Stanley Fischer, Gianluigi Vernasca and Rudiger Dornbusch. Economics, 11th Edition. London:
McGraw-Hill, 2014.
2. Hoon, Koh, Chin and Quah. Economics: Theory and Applications. International Edition. Singapore: McGrawHill, 2003.
3. John Sloman, Kevin Hinde and Dean Garratt. Economics for Business, 6th Edition, Harlow: Pearson, 2013.
4. John Sloman, Dean Garratt and Alison Wride. Economics. 9th Edition. Harlow: Pearson, 2015.
5. Karl E. Case, Ray C. Fair and Sharon C. Oster. Principles of Economics, International Edition: 11th Edition.
Bostan: Pearson, 2014.
6. Richard G. Lipsey and K. Alec Chrystal. Principles of Economics, 11th Edition. Oxford: Oxford University Press,
2007.

ONLINE SUPPORT
Taylors University provides a learning management system, TIMeS to allow students convenient access to subject
resources. This can be accessed at: http://portals.taylors.edu.my
Materials available include:
Module Outline
Lecture slides
Tutorial and assignment questions
Assignment Cover Sheet
Assignment Feedback Form
Samples of past year exam questions
Other module information

ASSESSMENT
ASSESSMENT SUMMARY
Form of assessment

Length

Weighting

Due date

Learning Outcomes
assessed

TGC Achieved

Week 6

Individual Assignment:
1000 words

Reflective Writing

Group Assignment:
Poster Presentation

Final Examination

07 SEPT 2016
(WED), by
2.00pm

20%

2 poster
boards each about
2' x 3'

30%

2 hours

50%

1&2

1.1, 1.3, 2.1,


2.2, 3.1, 6.1,
6.2 & 8.1

2&4

1.1, 1.3, 2.1,


2.2, 3.1, 4.1,
5.1 & 6.3

1, 3 & 4

1.3,
2.2 & 3.2

Week 10
03-07 OCT
2016 (MONFRI), Tutorial
Sessions

ASSESSMENT DETAILS
Students are required to submit the individual assignment in hard copy to the module lecturer and electronically to the
Turnitin. Deadlines must be strictly adhered to. Please refer to Taylors University Student Handbook/ Dual Award
Program Guide for more details on late submission. All assignments must use the Assignment cover sheet and
assignment feedback form as the first two pages of the assignment (available from subject website). No extensions
will be granted for assignment submissions. If the assignment is submitted late due to circumstances beyond your
control, you are required to complete an Application for Late Submission of Assessed Work Form (available from the
Divisional Office).
A late penalty will be applied to an assessment item submitted after the date for submission as stated in the
assignment specification, or a later date agreed to by the subject coordinator in response to an application for an
extension of time. The late penalty will take the form of a deduction of a fixed percentage of marks (5%) per day up
until a maximum period of five (5) days, at which time the assignment will be assigned zero marks.

The detailed on individual and group assignments can be found in pages 9-13.

FINAL EXAMINATION (50%)


Final examination is a closed-book examination of two hours. It seeks to determine students individual
effectiveness in responding to specific questions under time-constrained invigilated conditions. It consists of 3
sections:
Section A:

Students are required to answer 10 true/false questions.

Section B:

Students are required to answer TWO compulsory structural questions.

Section C:

Students are required to answer any TWO out of FOUR essays.

IMPORTANT REMINDER: Students are required to sit/attempt the final examination. Failure to do so
would result in a fail grade (F).

RETURN OF ASSIGNMENTS
Marked assignments and a feedback form will be returned to you no less than three (3) weeks from the date of
submission.

MODULE REQUIREMENTS
All students must adhere to the Taylors Universitys Examinations, Assessment Policies and Procedures Manual. Key
information can be found at program website (http://portals.taylors.edu.my).

REFERRED EXAM
Re-sit examinations are given to students who fail a subject with a final grade of D+, D or D-, but not F. Such students
may re-sit their examination for the failed subject, as decided by the Board of Examiners. If the student passes the resit examination, the maximum grade that may be awarded is a grade of C, irrespective of the actual mark achieved by
the student for that re-sit examination.

ACADEMIC INTEGRITY
Plagiarism
Plagiarism is the use of someone else's language, ideas, information or original material without acknowledging the
source. All students are expected to attend a course on proper usage of referencing. Information about referencing is
available from the Learning and Academic Skills Centre (LASC) and from the library webpage at:http://library.taylors.edu.my/taylor_customize/Information_Skills/Reference/reference_mainpage.htm
Plagiarism is a serious offence and any individual (who is suspected of plagiarism) would be referred to the Academic
Integrity Committee of Taylor's University. Please refer to the Student Handbook for further information.
Students are advised that the Harvard referencing style should be consistently adopted for all written assessments.
Taylors University treats any acts of dishonesty relating to assessment of University modules very seriously. It is vital
that students acquaint themselves with the Universitys policy on plagiarism. Please refer to Taylors University
Student Handbook/ Dual Award Program Guide for details on Academic Integrity and Assessment Grades.

PERFORMANCE IN ASSESSMENT
Your performance in an assessment will be given various grades. For details, please refer to the Taylors University
Student Handbook/ Dual Award Program Guide.

DIPLOMA IN BUSINESS
MICROECONOMICS (ECN40104)
INDIVIDUAL ASSIGNMENT (AUGUST 2016)

The aim of this assignment component is for the students to examine their learning processes and be able to
make connections between theory and practice, as well as to encourage them to become reflective
practitioners in their future fields.

ASSIGNMENT QUESTION (20%)

You will be required to do ONE (1) Reflective Writing task based on microeconomics application in the real
world. The reflective writing is meant to be open-ended and informal, yet creative.
The word count for the report must be approximately 1000 words. Details of the task and respective due date
are given below.

Task
1.

Choose ANY FOUR (4) microeconomics concepts within these topics:


- The Economic Problem (e.g. scarcity, opportunity costs, tradeoff, etc)
- Demand, Supply, and Market Equilibrium (inclusive of determinants and price
regulation)
- Elasticity (inclusive of determinants and price regulation)

2.

Reflect on how these four concepts affect individuals, families, firms, governments and societies.

3.

Your reflection of each concept MUST be supported with a few appropriate examples.
(20 marks)

Due date: Wednesday (07/09/2016), Week 6, by 2.00 pm.


Note: The assignment must be submitted in both hardcopies (MS Word format for marking) and
softcopies (turn-it-in for plagiarism checking).

GENERAL ASSIGNMENT GUIDELINES


Late submission of work
All coursework MUST be submitted by the specified deadline, except for extenuating circumstances.
Referencing (if applicable)
For academic purposes ALL secondary research material must be carefully referenced using the Harvard
Referencing Method.
Word count
Your word count is permitted to be less or more by 10%.
Presenting coursework for assessment
Assignments must be presented in the following format:
- Assignments must be word-processed in 12-point font size Times New Roman and
double-spaced.
- All pages must be numbered.
- Kindly ensure the soft copy and hard copy of the completed assignment submitted to your
lecturer contains:
Assignment Cover Sheet
Assignment Feedback Form
Completed task
References (if applicable)
- Margins must be as follows: Top and Bottom 2.5 cm, Left and Right: 3.2 cm.
- Graphs and other diagrams must be generated in MS Word/PowerPoint.
- Assignments not complying with this format will be returned to students unmarked. If in
any doubt you should discuss this with the tutor before submission.

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DIPLOMA IN BUSINESS
MICROECONOMICS (ECN40104)
GROUP ASSIGNMENT (AUGUST 2016)

POSTER PRESENTATION (30%)


A poster presentation is a display of information that you have collected on a specific topic that you can
bring together for one common goal or cause. In terms of a microeconomics class project this could be one
essential concept you would like to get across to the audience. The available resources that you have come
up with can be a conglomerate of pictures, documentation, objects, references, etc.
GROUP FORMATION
4 students in a group.
POSTER PRESENTATION TITLE (30%)
Choose ONLY one title per group. Choices of title, details of presentation and the respective due date are
given below.

Poster Titles
1.
2.
3.
4.
5.
6.
7.
8.
9.

Economics as the human science


Government intervention at the micro level
Firms - Product differentiation
Firms - Price discrimination
Firms - Production and costs
Firms - Barriers to entry
Perfect Competition
Monopoly
Monopolistic Competition

Presentation Date: Week 10 (03/10/16 07/10/16).


Venue: Tutorial Classes

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GENERAL ASSIGNMENT GUIDELINES


As you plan for your poster, please keep in mind the following suggestions:
1. The difference between poster and oral presentations is that you should let your poster do most of the
'talking'; that is; the material presented should convey the essence of your message.
2. Your task as the presenter is to answer questions and provide further details; to bask in praises or
answer difficult questions; and to convince others that what you have done is excellent and
worthwhile!
3. Keep the material simple
o make full use of the space, but do not cramp a page full of information as the result can often
appear messy.
o be concise. Use only pertinent information to convey your message.
o be selective when showing results. Present only those that illustrate the main points of the
project. However, you may want to have handouts that explain the information in more detail.
4. Have fun and be creative - it's a great way to share information with lots of people!

Poster Content & Format


For this assignment, you will use a standard sheet of poster board (2 poster boards - each about 2' x 3') on
which to mount your information. Although professional posters use a slightly different format (usually a
bigger size), the following guidelines are typical:

Include your title, author(s), a selected references section (your most important 2-3 references), and
graphics - pictures, diagrams, figures, tables, etc. - these are usually more eye-catching and
understandable than text
Condense! You cannot possible present everything you know on the topic in that small space!!
o Include only your important points, and use bullets rather than a paragraph format; complete
sentences are not required
o The most common error is including too much information - RESIST!!
Use larger section headings to help the casual reader quickly understand the poster's organization
(e.g., Education, Treatment)
Make your poster visually attractive
Use PowerPoint or another computer program to create the poster - no handwriting. Make your
poster readable from 6 feet away (at least 20-point font for the text, at least 30-point font for the
headers and at least 75-point font for the title).
o This aspect of the project is definitely more art than science, so have some fun with it! Don't
be afraid to go outside the boundaries of your poster board.
o No typos or spelling errors.

Presentation Tips
During the poster presentation, you will stand next to your poster and provide a brief explanation of its
content to people who come by. You will also answer any questions they have about the topic. Here are
some tips:

Be able to describe your poster topic within 4 minutes


o If interested, people will ask you more questions and you can expand on the details.
o Use your poster as a visual aid, pointing to diagrams or other sections.
Remember that you are the expert on your topic probably no one else on campus knows as much as
you about your topic, so be confident!! (Dont panic!)
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If you dont know the answer to someone's question its ok to say you dont know. Keep the
conversation going, though - ignorance isnt fatal, but just letting it hang in the air is pretty
awkward. Instead, say "I don't know the answer to that - what do you think about it?"
Sometimes presenters make the mistake of hiding next to their poster. Even if you're terrified, act
confident and friendly: force yourself to smile, make eye contact, say hello, ask people walking by if
you can tell them a little about your poster
Dress professionally if you look professional, you are more likely to feel and act professionally
(e.g., better posture, better grammar).
o

Evaluation Criteria
Posters are worth 30%. The best presentations will:

include the appropriate information (e.g., title, author, content, relevant graphics)
be visually attractive and readable
include appropriate organization and level of details so the reader can quickly find and understand
the main ideas
demonstrate good public speaking skills
demonstrate the presenter's ability to professionally and knowledgeably discuss the topic and clearly
answer questions

DYSFUNCTIONAL GROUPS
If some members of the group do not contribute sufficiently or satisfactorily, all group members must see
the tutor immediately. The tutor reserves the right to reduce individual group member marks.

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MODULE CALENDAR AUGUST SEMESTER 2016

Week

Date

1 Aug

8 Aug

15 Aug

Lecture topic

5 Aug

12 Aug

19 Aug

Tutorial / Reading

Introduction To Microeconomics &


Economic Systems

No Tutorial

Price Theory: Demand


Price Theory: Supply

Tutorial 1

Assessment /
Key dates

Bade & Parkin (Ch.1 & 3)

Bade & Parkin (Ch.4)

Price Theory: Market Equilibrium

Tutorial 2
Bade & Parkin (Ch.4)

22 Aug

26 Aug

29 Aug

2 Sept

Application of Price Theory: Price


elasticity of demand

Application of Price Theory: Cross


and income elasticity of demand.
Price elasticity of supply

Tutorial 3
Bade & Parkin (Ch.5)

Tutorial 4
Bade & Parkin (Ch.5)

5 Sept

9 Sept

Theory of the Firm I: production in


the short run

Tutorial 5

12 Sept

16 Sept

Theory of the Firm I: Costs of


production in the short run

Tutorial 6

Bade & Parkin (Ch.14)

Individual
assignment:
7 SEPT 2016
(WEDNESDAY), by
2.00pm

Bade & Parkin (Ch.14)


8

23 Sept

Theory of the Firm II: Prod & costs


in the long run

Tutorial 7

19 Sept

30 Oct

Market structure: Perfect


Competition

Tutorial 8

26 Sept

3 Oct

7 Oct

Market structure: Monopoly

10 Oct

14 Oct

Market structure: Monopolistic


Competition and Oligopoly

Bade & Parkin (Ch.14)

Bade & Parkin (Ch.15)

Tutorial 9
10

11

Bade & Parkin (Ch.16)

Tutorial 10
Bade & Parkin (Ch. 17 & 18)

12

17 Oct

21 Oct

13

24 Oct

29 Oct

Market structure: Monopolistic


Competition and Oligopoly

Tutorial 11

FINAL EXAM

14

Group Poster
Presentation:
3 OCT-7 OCT
(MONDAY-FRIDAY)

INDIVIDUAL ASSIGNMENT
COVER SHEET
An Assignment cover sheet needs to be included with each assignment. Please complete all details clearly.
If you are submitting the assignment on paper, please staple this sheet to the front of each assignment. If you are submitting the assignment online, please ensure this cover sheet
is included at the start of your document.
Please check with your subject lecturer for assignment submission locations.
Name/s (Optional):
Student/s ID:
Programme : DIPLOMA

IN BUSINESS

Email (Individual/Group Leader):

Subject code and title:

Contact No (Individual/Group Leader) :

ECN40104 / MICROECONOMICS

Module Lecturer/ Tutor:

Ms. Marina Mustapha

Assignment number:

Due date: 7 Sept 2016

Assignment topic as stated in the guidelines provided:

Further Information: (e.g. state if extension was granted and attach evidence of approval and Revised Submission Date)

I have read and understood the Taylors University Regulations on cheating, plagiarism and collusion and state that this piece of work is my own and does not contain any
unacknowledged work from any other sources.
I authorise the University to test any work submitted by me, using text comparison software, for instances of plagiarism. I understand this will involve the University or its contractor
copying my work and storing it on a database to be used in future to test work submitted by others.
Note: The attachment of this statement on any electronically submitted assignments will be deemed to have the same authority as a signed statement.
Signed:

Date:

Date received from student :

Received by:

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ECN40104 Microeconomics
Individual Assignment (Reflective Writing) marking and feedback sheet.

Category

Description

Point
Value

Mechanics
Well written, clear organization, uses
standard English grammar, contains
minor, if any, spelling errors

Excellent writing and organization with no


grammatical and/or spelling errors.

Mainly well-written and well-organized with a few


grammatical and/or spelling errors.

Adequate writing and organization with some


grammatical and/or spelling errors.

Inadequate due to lack of organization, grammar,


and/or major spelling errors

MECHANICS
Evidence of Critical Thinking
Demonstrates excellent critical thinking and ability
Critical thinking includes application,
to apply concepts.
analysis, synthesis and evaluation.
Arguments are clear and show depth of Demonstrates adequate critical thinking and ability
insight into theoretical issues, originality of
to apply concepts.
treatment, and relevance. May include
unusual insights. Arguments are well
Demonstrates some critical thinking and application
supported.
of concepts
Shows minor or incorrect application of concepts

CRITICAL THINKING
Development of Ideas
Well-developed thoughts, ideas, and
details, which shows evidence of
reflection, new ideas, and grasp of
concepts.

Well-developed; shows clear evidence of reflection


and/or metacognition; new ideas introduced and
reflects a good grasp of concepts presented.

Mainly well-developed; shows adequate evidence


of reflection and/or metacognition; new ideas
introduced and reflects a good grasp of concepts
presented.

Shows some evidence of reflection, but not welldeveloped; few new ideas introduced but reflects a
grasp of concepts presented.

Not much thought or detail; shows little evidence of


reflection or grasp of concepts; no new ideas
introduced.

DEVELOPMENT OF IDEAS
OVERALL TOTAL
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GROUP ASSIGNMENT FEEDBACK FORM


Poster Presentation Assessment Criteria (30%)
4
Comprehensive
coverage - excellent
knowledge and a deep
understanding of the
Subject
knowledge/content topic. More than 4
examples of
and range of
products/firms/industries
examples
are provided. Excellent
(40%)
use of references.

Visual
presentation
(20%)

Demonstrates
reasonable knowledge
and understanding of the
topic. 3-4 examples of
products/firms/industries
are provided. References
are included.

Has given a factual


and/or conceptual
knowledge and
understanding of the
topic. 2-3 examples of
products/firms/industries
are provided. Limited
references.

Evidence of limited
knowledge of topic.
Fails to demonstrate a
basic understanding of
the topic. 1-2 examples
of
products/firms/industries
are provided. Poor
references/materials are
sourced directly from
lecture notes.

Poster is clearly
formatted and labeled.

Poster is missing
Poster is missing the
Poster is unprofessional
headings, but neatly and headings, but relevant to in appearance, but is
carefully organized.
topic and has been
relevant.
structured.

Poster is creatively
presented, follows a
pattern, is colorful, eyecatching and material
can be easily read/seen.

Poster follows a pattern,


uses colors but not all
are eye-catching and
some material is barely
able to be read/seen.

Poster does not follow


any type of pattern, uses
color but not well
applied, and material is
not easily read/seen.

Poster has no real


layout, no color, is not
eye-catching, and
most/all material cannot
be read/seen.

Consistent use of direct


eye contact, but still
returns to notes. Made
movements or gestures
that enhance
articulation. Makes
minor mistakes, but
quickly recovers from
them; displays little or
no tension.

Displayed minimal eye


contact, while reading
mostly from the notes.
Very little movement or
descriptive gestures.
Displays mild tension;
has trouble recovering
from mistakes.

No eye contact as entire


presentation is read from
notes. No movement or
descriptive gestures.
Tension and
nervousness is obvious;
has trouble recovering
from mistakes.

Occasionally shows
enthusiasm, can
communicate effectively
with a clear voice and
mostly correct
pronunciation. Most
parts of presentation can
be heard.

Lacks enthusiasm,
though can
communicate effectively
with low voice and some
incorrect pronunciations.
Difficult to hear
presentation.

Almost no enthusiasm
with some effective
communication.
Mumbles, incorrect
pronunciation and
speaks too quietly for
majority to hear.

Holds attention with the


use of direct eye contact,
seldom looking at notes.
Movements seem fluid
Nonverbal Skills and help visualization.
Displays relaxed,
(20%)
self-confident with no
mistakes.

Verbal Skills
(20%)

Highly enthusiastic, can


communicate effectively
in a professional manner
with a clear voice, and
correct, precise
pronunciation.
Presentation can be
easily heard.

Student Name:

ID:

1.
2.
3.
4.

17

Total Points:

Total

Appendix 1
TAYLORS BUSINESS SCHOOL
DIPLOMA IN BUSINESS: SEMESTER AUGUST 2016

Group Assignment: Poster Presentation


Group Confirmation Form
We agree to be considered as a Group for the purposes of working on this assignment and
agree to work together as from the date of the form.
No

Name

Student ID

Signature

Date:

This form has to be handed back to ____________________ latest on 14 Sept 2016.


Topic: ______________________________________________

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