Department of Business Administration

COURSE OUTLINE

Course No. BAC ECON

Course Title Basic Microeconomics
Credit Units 3
Pre-requisites none
Term 1st Semester, AY 2019 - 2020
Class schedule _________________________
Instructor: Anna Marie R. Baloran, DBA

Course Description:

Basic Microeconomics (BAC ECON) is a requisite course for students pursuing the
following academic program: BS Business Administration, BS Executive Resource Management
and BS Entrepreneurship.

The course introduces students to basic microeconomic concepts and its application to
business, industry and regional development activities. The focus is on how individuals make
decisions that affect their income and wealth, how firms make decisions that affect profits and
production, and how government regulation affects individuals and firms. The link between
business operations and the economy as a whole is the highlight of the course. The terminal
requirement of the course is the submission of concept papers that demonstrate the students’
analysis of a firm and skill in mapping of an industry’s market structure.

Course Outcome:

At the end of the course, the students should be able to:

CO1: Identify the tools of microeconomic analysis and their distinctive contributions to the study
of social phenomena and the alleviation of the human condition;

CO2: Apply the tools of microeconomic analyses in explaining the functioning of economic
systems

CO3: Reflect / utilize the microeconomics tools to make informed decisions may it be on a
personal and public level

CO4: Evaluate an economic situation that has affective businesses and recommend a solution
Educational Resources:

References

9781305971493
Mankiw, N. Gregory. (2018). Principles of Microeconomics. 8th Edition. Australia. Cengage
Learning. 2018 (Textbook)

9789814410298
Arnold, Roger. (2012). Principles of Economics. 10th Edition. Singapore. Cengage Learning.
2012

Online Learning Resources

1. The course participant is encouraged to make use of publisher provided online learning
centers that track the topics of the main references. In these sites, study guides, online
exercises, practice quizzes, supplemental resource links, among others, are provided free of
charge.
2. Official government statistics and analyses from almost any agency may be accessed
through the government portal: www.gov.ph. Of special significance are:
a. The National Economic and Development Authority: www.neda.gov.ph
b. The Philippine Institute for Development Studies: www.pids.gov.ph
c. The Philippine Statistics Office: www.psa.gov.ph
d. The University of the Philippines School of Economics (an excellent source of publications
at the forefront of current Philippine policy research): www.econ.upd.edu.ph
4. International multilateral agencies provide information for member countries of the United
Nations.
a. The International Bank for Reconstruction and Development (IBRD): www.worldbank.org
b. The International Monetary Fund: www.imf.org
c. The UN System: www.unsystem.org
5. Sites hosted at private institutions:
a. Resources for Economists on the Internet: www.rfe.org
b. WWW Resources in Economics: netec.wustl.edu/WebEc/WebEc.html
6. Online editions of Philippine newspapers:
a. Philippine Daily Inquirer: www.inquirer.net
b. Businessword: www.bworld.net
c. Philippine Star: www.philstar.com
d. Sunstar Daily: www.sunstar.com.ph
e. Cebu Daily News: www.cdn.com.ph

Course Outline

Week # Dates Content Intended Assessment

1 Aug. 13 to 16
Learning
Outcomes
1. List the learning objectives of  Group activity
the course. Individual
2. Enumerate the major Responses
contents of the course syllabus.  Interaction
3. Identify the requirements and  Personal Reflection
explain the grading system for paper of the USC-
the course. VMS
4. Reflect on the relevance of  GTKY activities
 BAC ECON to the university’s  Expectation
vision and mission statement settings
and aims of SBE and the
Department of Business
Administration
2 Aug. 19 to 23 Ten Principles CO#1  Individual/group
of Economics (Ch.1) oral presentations
1. Explain the ten fundamental  Individual/group
principles on which the study of participation
economics is based.  Individual/group
2. Recognize that people face written reports
trade-offs among alternative  Individual/group
goals, that the cost of any recitation
action is measured in terms  Mini-Case Study
of forgone opportunities, that  Interactive lecture
rational people make decisions  Inquiry based
by comparing marginal costs learning
and marginal benefits, and that
people change their behavior in
response to the incentives they
face.
3. Describe how trade and
interdependence can be
mutually beneficial, that
markets are usually a good way
of coordinating economic
activity among people, and that
the government can potentially
improve market outcomes by
remedying a market failure or
by promoting greater economic
equality.
4. Deduce that productivity is
the ultimate source of improving
living standards, that growth in
the quantity of money is the
ultimate source of inflation, and
that society faces a short-run
trade-off between inflation and
unemployment.
3 Aug. 26 to 30 Thinking like an CO#1  Individual/group
economist (Ch. 2) CO#2 oral presentations
1. Identify how economists  Individual/group
approach economic problems participation
– in a dispassionate systematic  Individual/group
way. They will see how written reports
economists  Individual/group
2. Apply the role of recitation
assumptions in model building  Mini-Case Study
particularly from Two simple  Interactive
models—the circular flow and discussion
the production possibilities  Brainstorming
frontier
 3. Distinguish between two
roles economists can play: as
scientists when we try to
explain the economic world and
as policymakers when we try to
improve it.
4 Sept. 2 to 6 Interdependence and the Gains CO#1  Individual/group
from Trade (Ch. 3) CO#2 oral presentations
1. Give example how everyone  Individual/group
can gain from trade for it allows participation
people to specialize in the  Individual/group
production of goods for which written reports
they have a comparative  Individual/group
advantage and then trade for recitation
goods that other people  Mini-Case Study
produce.  Interactive
discussion
 Presentations
5 Sept. 9 to 13 The Market CO#1  Individual/group
6 Sept. 16 to 20 Forces of Supply and Demand CO#2 oral presentations
(Ch. 4) CO#3  Individual/group
1. Analyze events that participation
influence a market using the  Individual/group
supply-and-demand diagram written reports
2. Examine how the event  Individual/group
affects equilibrium price and recitation
quantity.  Mini-Case Study
3. Trace why prices are the  Interactive
signals that guide economic discussion
decisions and thereby allocate  Presentations
scarce resources.
5 Sept. 12 to 13 Pre-Midterm Examinations  Examination results
7 Sept. 23 to 27 Elasticities and Its Application CO#1  Individual/group
(Ch. 5) CO#2 oral presentations
1. Describe concept of CO#3  Individual/group
elasticity. participation
2. Make quantitative  Individual/group
observations about the impact written reports
of changes in supply and  Individual/group
demand on equilibrium prices recitation
and quantities.  Mini-Case Study
 Interactive
discussion
 Fish bowl strategy
8 Sept. 30 to Oct. 4 Supply, Demand and CO#1  Individual/group
Government Policies (Ch. 6) CO#2 oral presentations
1. Compare and contrast two CO#3  Individual/group
types of government policies— participation
price controls and taxes.  Individual/group
2. Trace how government written reports
policies sometimes produce  Individual/group
unintended consequences.
 recitation
 Mini-Case Study
 Interactive
discussion
 Terminal Report:
Analysis of the
Firm
9 Oct. 7 to 11 Midterm Examination Week  Midterm
Departmental
Exams
10 Oct. 14 to 18 The Cost of CO#4  Individual/group
Taxation (Ch. 8) oral presentations
1. Apply supply and demand  Individual/group
principles to the issue of participation
taxation  Individual/group
written reports
 Individual/group
recitation
 Cooperative
Learning
 Interactive
discussion
 Presentations
11 Oct. 21 to 25 University Days
12 Oct. 28 to 31 The Cost of CO#4  Individual/group
Production (Ch.13) oral presentations
1. Illustrate how firms’ decisions  Individual/group
about prices and quantities participation
depend on the market  Individual/group
conditions they face. written reports
 Individual/group
recitation
 Mini-Case Study
 Interactive
discussion
 Demonstrations
13 Nov. 4 to 8 Firms in CO#3  Individual/group
Competitive Markets and CO#4 oral presentations
Monopoly (Ch.14)  Individual/group
1. Determine the behavior of participation
competitive firms—firms that do  Individual/group
not have market power written reports
 Individual/group
recitation
 Mini-Case Study
 Interactive
discussion
14 Nov. 11 to 15 Monopoly (Ch. 15) CO#3  Individual/group
1. Trace the production and CO#4 oral presentations
pricing decisions of  Individual/group
monopolists, the social participation
 implications of their market  Individual/group
power, and the ways in which written reports
governments might respond to  Individual/group
the problems caused by recitation
monopolists.  Mini-Case Study
 Interactive
discussion
14 Nov. 14 to 15 Pre-Final Examination Week
15 Nov. 18 to 22 Oligopoly (Ch. 17)  Individual/group
1. Determine the behavior of oral presentations
firms under oligopoly  Individual/group
participation
 Individual/group
written reports
 Individual/group
recitation
 Mini-Case Study
 Interactive
discussion
16 Nov. 25 to 29 Fieldwork/Group Project Terminal Report:
Making Industry mapping;
determine the market
structure of the
identified industry
17 Dec. 2 to 6 Review for departmental • Poster making
exams; submission of terminal • Cooperative learning
report (small group activity)
18 Dec. 9 to 13 Final Examination for Non-  Final Departmental
Graduating Examinations

Grading System

Particular/Criteria Weight

Quizzes / individual or group activities 30%

Mid Term
Pre-Midterm Exam/Requirement 30%
Midterm Exam/Requirement 40%

Quizzes/ individual or group activities 30%

Final Term
Pre-Final Exam/Requirement 30%
Final Exam/Requirement 40%

Final Grade Midterm grade 1/3

Final Term equivalent 1/3
Class standing (peer evaluation for group activities & attendance) 1/3
Passing Rate: 60%
Classroom Management

1. Attendance is a MUST. Students may incur only ten (10) absences for MWF schedules
or seven (7) absences for TTH schedules. Otherwise, they will automatically be dropped
from class and receive a grade of either NC (No Credit) or a failing grade of 5.0,
whichever is applicable.
2. Students who incur three (3) absences will be asked by the instructor to see the
Department Chair to secure permission to be re-admitted to class. A re-admission slip
should be properly accomplished for this.
3. Tardiness is discouraged. It is a source of irritation and class disruption when students
arrive late. Students who arrive 15 minutes after the start of class are considered tardy.
Please note that three (3) tardiness is equivalent to one (1) absence.
4. A permanent seat plan will be made at the start of the semester. Students are advised
to keep to their assigned seating arrangement; otherwise, they will be marked absent for
that day.
5. Classes should always start and end with a short prayer. The instructor can opt to lead
the prayer or assign students to do this alternately.
6. Students should assist in maintaining the orderliness and cleanliness of the classrooms.
Graffiti writing is strictly prohibited. Any student found violating this rule will be punished
with the appropriate sanction. Before leaving the classroom, the instructor with the help
of the students, should ensure that no litter/garbage is left behind and that chairs are in
their proper order. Should the class be the last schedule for the day, the instructor
should arrange that the lights and air conditioning units are switched off.
7. Going out of the classroom at any time is strictly discouraged. Students should make it
a habit to go to the restroom during their vacant period or before the start of their
classes. If they must visit the restroom, permission should be sought from the instructor.
8. Use of mobile phones inside the classroom is strictly prohibited. They should be
switched off or placed in silent mode before entering classes. The instructor has the
right to confiscate mobile phones that ring and/or are used during class hours. The
confiscated unit can only be claimed from the Dean’s Office at the end of the semester.
9. The teacher reserves the right to ask the student to leave the room if his behavior is
disruptive in class.
10. It is the responsibility of the students to properly schedule their classes so that meals
and snacks will be taken at the proper time.
11. Students are encouraged to see the instructor during consultation hours for any
concerns, questions and assistance with regards to the course.

Format for the Final Report:

1 copy of Ringbind with transparent plastic front cover
Margins: Left: 1.5 the rest 1.0
Font Type/Size: Times New Roman/12 pt.
Paper size: short bond paper.
Line spacing: 1.5 or double-spaced; no space before & after each paragraph.