TQF3 - Course Syllabus - ICBE342 Interm Micro - ICBE371 Strategic Choices Cons Firms - 2562 - T2

Major Required course
Course Title: Intermediate Microeconomics / Undergraduate

/ Strategic Choices of Consumers and Firms Mahidol University International College
Course Code: ICBE342 / ICBE371 Department: Business Administration
TQF 3 Course Specifications

Section 1 General Information
1. Course code and course title
Thai ICBE 342 เศรษฐศาสตร์จุลภาคระดับกลาง / ICBE 371 กลยุทธ์การเลือกของผู้บริโภคและบริษัท
English ICBE 342 Intermediate Microeconomics /
ICBE 371 Strategic Choices of Consumers and Firms
2. Number of credits 4 (4-0-8)

(Lecture 4 hours – Laboratory 0 hours – Self-study 8 hours / week)
3. Program and type of subject

3.1. Program Undergraduate Degree (International Program)
3.2. Type of Subject Business Economics Major Required
4. Course Responsible Lecturer and Course Lecturer

Dr. Isabel Pereira Rodrigues
Business Administration Division, MUIC
Office: Aditayathorn Building, room A432
Tel: 02-700-5000 Ext.4424
email: isabel.mahidol@gmail.com isabel.per@mahidol.edu
Office hours: Tuesdays and Thursdays 16h00-17h00, Fridays 9h30-11h30
5. Trimester/ Year of Study

5.1. Trimester Trimesters 1-2-3 / for all students in all International College
5.2. Course Capacity Not more than 40 students per section
6. Pre-requisite ICMB203 / ICMB205 Microeconomics

7. Co-requisites N/A
8. Venue of Study Mahidol University International College, Salaya campus
9. Date of Latest Revision November, 2019
MUIC- ICBE342 Intermediate Microeconomics / ICBE371 Strategic Choices of Consumers and Firms
Course Syllabus Term 2, 2019/20 page 1
Section 2 Goals and Objectives
1. Course Goals
On a daily basis, firms take decisions on how to produce, what to produce and for whom to
produce. Similarly, each and every person decides what to consume, how much to consume and
when to consume. These independent decisions impact the individuals and the organizations, but
through the economic system, they also have a broader impact on the society. Understanding and
evaluating the strategic choices of individuals and firms using economic principles is crucial to make
efficient business decisions. Furthermore, it also supports the suggestion of suitable policies that
governments may adopt to promote sustainable growth, prosperity and stability in the overall
economy. At the end of the course, students are able to understand and critically evaluate
contemporary microeconomic and public policy issues.
2. Objectives of Course Development/Revision

2.1. Course Objectives
This course provides students the opportunity to enhance their understanding and
appreciation of microeconomics as a way to support effective decision-making. Microeconomic
concepts and analytical techniques are applied in a systematic way to a variety of real world
economic phenomena, allowing the assessment of how individuals and firms make choices,
how markets allocate resources, and the ways in which government intervention can affect the
functioning of those markets.
2.2. Course-level Learning Outcomes: CLOs

By the end of the course, students will be able to:
CLO1. Analyze the economic choices of individual consumers, using adequate analytical
economic tools, mathematical tools and diagrams.
CLO2. Analyze the economic choices of firms and how they respond to changes in
opportunities and constraints, using tools from economics, game theory, and
mathematics.
CLO3. Evaluate how individuals and firms interact in markets, under different market
structures.
CLO4. Critically discuss real-world contemporary economic and public policy issues through
the adequate use of microeconomic tools.
Section 3 Course Management
1. Course Description
ศึกษาพฤติกรรมทฤษฎีของตัวแทนทางเศรษฐกิจ ความต้องการของบุคคลและตลาด การเลือกที่ดีที่สุดโครงสร้าง
ตลาด การวิเคราะห์ข้อตกลงและการร่วมมือ ทฤษฎีเกม การปฏิสัมพันธ์ระหว่างผู้บริโภคและบริษัท การวิเคราะห์
ความสมดุล การแทรกแซงภาครัฐบาล ความล้มเหลวของตลาด
Topics in this course include; the behaviour of economic agents, individual and market demands,
optimal choices, market structures, game theory, interaction of consumers and firms, partial and
general equilibrium analysis, government intervention, market failures and externalities.
2. Credit hours per trimester

Lecture Laboratory/field trip/internship Self-study
(Hour(s)) (Hour(s)) (Hour(s))
48 hours 96 hours
0
(4 hours x 12 weeks) (8 hours x 12 weeks)
3. Number of hours that the lecturer provides individual counseling and guidance:
- Responsible lecturer provides 4 hours per week of office hours.
- Students can make request for appointment whenever necessary and in agreement with
the responsible lecturer (Monday – Friday, during office hours).
Section 4 Development of Students’ Learning Outcome

1. Expected outcome on students’ skills and knowledge (CLOs)
By the end of the course, students will be able to
CLO1. Analyze the economic choices of individual consumers, using adequate analytical
economic tools and diagrams.
CLO2. Analyze the economic choices of firms and how they respond to changes in opportunities
and constraints, using tools from economics and game theory.
CLO3. Evaluate how individuals and firms interact in markets, under different market structures.
CLO4. Critically discuss real-world contemporary economic and public policy issues through the
adequate use of microeconomic tools.
2. Teaching methods for developing the knowledge or skills specified in item 1 and measuring the
course learning outcomes
CLOs Teaching methods Evaluation Methods
- Interactive Lecture
- Work assignments
- Writing and speaking exercises in-
- Final Exam and Quizzes
CLO1 class
- Group project assignments
- Problem-based learning
- Class discussions
- Group project assignment
- Work assignments
- Final Exam and Quizzes
CLO2 class
- Group project assignments
- Class discussions
- Work assignments
CLO3 - Final Exams
class
- Class discussions
- Directed discussions - Work assignments
- Writing and speaking exercises in- - Final Exam and Quizzes
CLO4
class - Group project assignments
- Problem-based learning - Class discussions
This course uses a combination of teaching methods. The primary method is interactive lecturing,
where students are challenged with exercises and applications of theoretical concept every 10-15
minutes. Complementary methods include:
- Directed discussion, Class discussion that follows a more or less orderly set of questions that
the instructor has crafted to lead students to certain realizations or conclusions or to help
them meet a specific learning outcome
- Writing and speaking exercises, Any of many informal assignments and activities, usually in-
class and ungraded, to help students learn material, clarify their thinking, or make progress on
a formal assignment
- Classroom assessment techniques, Informal assignments and activities, usually in-class and
ungraded, to inform the instructor how well students are mastering new material just
presented or read
- Student-peer feedback, Students giving one another feedback on a written or an orally
presented product, usually a written draft or practice speech
- Just-in-time teaching, Instructor adjusts class activities and lectures to respond to the
misconceptions revealed by students’ electronic responses to conceptual questions
- Case method, Students applying course knowledge to devise one or more solutions or
resolutions to problems or dilemmas presented in a realistic story or situation; an individual,
small-group, or whole class activity
- Problem-based learning, Student groups conducting outside research on student-identified
learning issues (unknowns) to devise one or more solutions or resolutions to fuzzy problems
or dilemmas presented in a realistic story or situation.
The different teaching methods are supported by handouts (powerpoint slides), and lists of exercises
and case studies, which will be available on the web (e-learning page), prior to the class. Students are
encouraged to bring these materials to the class, use the materials to take their own study notes, and
actively participate in the discussions of the class.
All the instructions and materials for the class are available at the Website of MUIC e-learning:
https://muicelearning.mahidol.ac.th (To log-in, students should use their SKY credentials).
Section 5 Teaching and Evaluation Plans

1. Teaching plan
Chapters in Book Pindyck &
Week Topic Hours CLO Teaching Methods Assessment
Rubinfeld (2015)
Presentation and Overview of the course.
Interactive Lecture.
1 Themes in Microeconomics.
Directed discussion. Questions in quiz 1.
(7, 9 Externalities, Public goods, and Sustainable 4 CLO4 1, 18
Writing and speaking exercises. GPs rubric.
Jan) Management.
Problem-based learning.
Introduction to Mini - Group Projects (GPs).
2 Interactive Lecture.
Sustainable Management (cont.). CLO
(14, 16, 6 Writing and speaking exercises. Work assignment (Activity) --
Review of Mathematics for Microeconomics 1,2
17 Jan) Problem-based learning.
3 Interactive Lecture. Questions in quiz 1 and
Consumer Behavior: Introduction, Budget
(21, 23 4 CLO 1 Writing and speaking exercises. final exam. GPs rubric. 3, 4
Constraint, and Preferences.
Jan) Problem-based learning. Work assignment (Activity)
4 Interactive Lecture. Questions in quiz 1 and
Consumer Behavior: Utility, Choice and
(28, 30 4 CLO 1 Writing and speaking exercises. final exam. GPs rubric 3, 4
Demand.
Jan) Problem-based learning. Work assignment (Activity)
5 4 Feb- Quiz 1 (To be confirmed). Interactive Lecture. Questions in quiz 1 and
4 CLO 2 3, 4, 6, 7
(4, 6 6 Feb - Producer behavior: Introduction, Writing and speaking exercises. final exam. GPs rubric
MUIC- ICBE 342 Intermediate Microeconomics / ICBE371 Strategic Choices of Consumers and Firms, Course Syllabus Term 2, 2019/20 page 6
Rubinfeld (2015)
Feb) Production technology. Problem-based learning. Work assignment (Activity)
6 Producer behavior: Production technology and Interactive Lecture. Questions in quiz 2 and
(11, 13 Economic Costs. 4 CLO 2 Writing and speaking exercises. final exam. 6, 7
Feb) 13 Feb - Deliver Mini-project Consumer. Problem-based learning. GPs rubric.
18 Feb - No class. Students review materials. Interactive Lecture. Questions in quiz 2 and
7
20 Feb - Profit Maximization and Market 2 CLO 3 Writing and speaking exercises. final exam. 8, 9
(20 Feb)
structures. Problem-based learning. GPs rubric.
8
25 Feb - Quiz 2 (To be confirmed). Interactive Lecture. Questions in final exam.
(25, 27 4 CLO 3 8, 9
Competitive supply. Writing and speaking exercises. GPs rubric
Feb)
9 Monopoly. Monopolistic competition. Questions in final exam.
(3, 5 Oligopoly. 4 CLO 3 GPs rubric. 10, 12.
Writing and speaking exercises.
March) 5 March - Deliver Mini-project Producer. Work assignment (Activity)
10
Game theory. CLO Interactive Lecture. Questions in final exam.
(10, 12 4 13, 16
General equilibrium. 2,3,4 Writing and speaking exercises. Work assignment (Activity)
Mar)
11
Additional applied exercises of CLO Writing and speaking exercises. Questions in final exam.
(17, 19 4 --
Microeconomics. 1,2,3,4 Directed discussion. Work Assignment (Activity).
Mar)
Problem-based learning.
Rubinfeld (2015)
12 Group Project Research Questions in final exam.
(24, 26 Students’ presentations of Group Projects. 4 CLO 4 Workshop. Work Assignment (Activity) --
Mar) Student peer feedback. GPs rubric.
13 31st March: Final exam, 10h00-11h50.
2. Plan for Assessing Course Learning Outcomes
2.1. Assessing and Evaluating Learning Achievement
a. Formative Assessment
1. Non-graded assignments and feedbacks
2. In-class short case discussion feedbacks
3. Group research and group case analysis consultation
b. Summative Assessment
(1) Tools and Percentage Weight in Assessment and Evaluation
Assessment Ratio
Learning Outcomes Assessment Methods
(Percentage)
Work assignments (Activities) 5
CLO1. Analyze the economic choices of Quiz 1 7
individual consumers, using adequate (Mini) Group Project on Consumer 10 31
analytical economic tools and diagrams. Final Exam 8
Attendance and Participation in class discussions 1
Work assignments (Activities) 5
CLO2. Analyze the economic choices of
Quiz 2 10
firms and how they respond to changes
(Mini) Group Project on Producer 10 33
in opportunities and constraints, using
tools from economics and game theory. Final Exam 7
Attendance and Participation in class discussions 1
CLO3. Evaluate how individuals and Work assignments (Activities) 5
firms interact in markets, under different Final Exam 10 16
market structures. Attendance and Participation in class discussions 1
CLO4. Critically discuss real-world Quiz 1 3
contemporary economic and public Final Exam 5
20
policy issues through the adequate use Group Project Presentation 10
of microeconomic tools. Attendance and Participation in class discussions 2
Total 100
Expected Learning
Evaluation Methods Week Percentage
Outcomes (CLO)
Quiz 1 CLO 1,4 5 10%
Quiz 2 CLO 2 8 10%
(Mini) Group project - Consumer CLO 1 2-6 10%
(Mini) Group project - Producer CLO 2 5-8 10%
Presentation of 1 (mini) Group Project CLO 4 12 10% **
Final exam CLO 1,2,3,4 13 30%
Work assignments (Activities) CLO 1,2,3 2-12 15%
Attendance and Participation in class
CLO 1,2,3,4 1-12 5%
discussions
Total 100%
** If a student is not in the classroom when her/his group presents the main findings of their
project (either the student is absent from that class or the student step out when his/her group
was presenting), then the student will have at most 3 points for this final presentation item.
Attendance and Participation in class will be checked in each and every class. According to
MUIC policy, students arriving more than 15 minutes late will be marked as L-Late. Three Ls
will be counted as one A-Absent. Students are required to attend at least 80 percent of the
classes (maximum 4 As) in order to be eligible to take the final examination.
If a student does not wear his/her uniform, he/she will be marked absent.
 As a courtesy, students need to let the instructor know beforehand when they have a valid
reason to leave class early or come to class late.
 If during the time of the class a student leaves the room for more than 15 minutes, s/he will
be marked as L-Late.
 If a student is absent and presents a written justification (e.g., medical certification), such
Absence will not be considered for the maximum limit to attend the final exam, and for the
score of Attendance the possible number of classes will also be adjusted.
 For example, if during the term there are a total of 24 classes and the student misses 3
classes, from which 2 classes have an acceptable written justification and 1 class does not
have such justification, then:
- for the purpose of maximum limit to attend the final exam, only the Absences
without justification will be consider (in the example above, only 1 absence);
- for the purpose of the score of Attendance, the possible number of classes for the
student will now be 24-2=22 classes, and only 1 class is discounted. This means the
student will have (21/22)*100=95.45% of Attendance, and the Total points for the
student’s final grade is: 0.9545*5= 4.77 points.
Work assignments (Activities): during the term, students are expected to participate in a
series of Activities (exercises, case study analysis, or multiple choices questions). Each Activity
has a score of 10. At the end of the term, each student is evaluated based on the percentage
of her/his score relative to the total score of all Activities given for the course.
 For example, if during the term there are 6 Activities with a total score of 60 and a
student gets a score of 40, the student will have (40/60)*100=66.7% of Participation in
Activities, and the Total points for the student’s final grade is: 0.667*15 = 10 points.
(Mini) Group projects: Additional information will be given during week 1 and will be available in
elearning page https://muicelearning.mahidol.ac.th .
(2) Grading System
Grade Score Achievement GPA
A 90-100 Excellent 4.0
B+ 85-89 Very Good 3.5
B 80-84 Good 3.0
C+ 75-79 Fairly Good 2.5
C 70-74 Fair 2.0
D+ 65-69 Poor 1.5
D 60-64 Very Poor 1.0
F <60 Fail 0.0
Students should earn “D” grade and above to pass the course.
Other letter grades, without credit points, are assigned for course work taken as follows:
Grade Explanation
I Incomplete
T Transfer of Credit
X No report from the instructor
P In progress
S Satisfactory
U Unsatisfactory
AU Audit (No credit granted)
W Withdrawal
(3) Re-examination (If course lecturer allows to have re-examination)

The students will be allowed to retake the exam based on Mahidol University’s
examination codes and regulations
3. Student Appeals
Students can seek for academic advices, and contents and evaluation clarifications from
instructors and Program Directors during office hours or by appointments. In addition, MUIC
provides students the opportunity to formally appeal on academic-related matters through
an appellant letter submitted to the college.
Section 6 Teaching Materials and Resources

1. Main texts and documents (Required Texts)
Robert S. Pindyck, and Daniel L. Rubinfeld, Microeconomics, 8th edition, 2015, Person (eds.)
2. Recommended documents and information (Suggested Materials)
Hal R. Varian, Intermediate Microeconomics: Modern Approach, 9th edition, 2014, W. W.
Norton & Company.
3. Other Resources (If any)
- N/A
Section 7 Evaluation and Improvement of Course Management

1. Strategies for evaluating course effectiveness by students
- Mid-trimester feedback that are anonymous from students
- Formal student evaluations at the end of trimester with the results monitored by a
Program Director
2. Strategies for evaluating teaching methods
- Peer evaluation based on class visits
- Formal student evaluations at the end of trimester on teaching methods
3. Improvement of teaching methods
- Attendance of teaching and learning training/seminars
- Improvement through Closing the Loop activity using feedbacks from students and
results of the evaluation of Course Learning Objectives

- Dialogue with peers
4. Verification process for evaluating students’ standard achievement outcomes in the course
- Comments from students on learning outcomes and evaluation criteria
- Formative feedbacks to students’ project and papers are communicated to students
- Evaluations of Course Learning Objectives by faculty members through several
evaluation methods recorded in an Assurance of Learning (AoL) report.
5. Review and plan for improving the effectiveness of the course

- Continuous improvement through Closing the Loop activity using feedbacks from
students and results of the evaluation of Course Learning Objectives
- Formal dialogue among Program Directors, AoL and Curriculum Development
subcommittee and responsible faculty members
Appendix A
Alignment between Courses and Programs – curriculum ID61xx and above
Table 1 The relationship between course and Program Learning Goals (PLGs)
Program Learning Goals (PLGs)
Course code and title
LG1 LG2 LG3 LG4 LG5 LG6
ICBE 371 Strategic Choices of Consumers and Firms R
Table 2 The relationship between CLOs and Program Learning Objectives (PLOs)
Program Learning Goals (PLGs)
Course Learning Objectives
LG1 LG2 LG3 LG4 LG5 LG6
CLO1. Analyze the economic choices of
individual consumers, using adequate PLO6.1
analytical economic tools and diagrams.
CLO2. Analyze the economic choices of firms
and how they respond to changes in
PLO6.1
opportunities and constraints, using tools from
economics and game theory
CLO3. Evaluate how individuals and firms
interact in markets, under different market PLO6.1
structures.
CLO4. Critically discuss real-world
contemporary economic and public policy
PLO6.1
issues through the adequate use of
microeconomic tools
Table 3 The description of PLGs and PLOs of the course

PLGs PLOs
PLG6 Students are able to use discipline-specific PLO6.1 Students are able to apply stakeholders’
knowledge and skills to solve actual business perspective in order to make business decisions
problems effectively.
Appendix B
Alignment between Courses and Programs – curriculum ID56xx until ID60xx
CLO in Program Learning Objectives
curriculum Course Learning Objective (CLO) in curriculum ID56xx
(PLO)
ID61xx
CLO1. Demonstrate proficiency in using adequate
CLO1,2 mathematical tools and diagrams to analyse standard
microeconomic problems.
PLO1.1 Students can analyse
CLO2 Discuss and predict the economic behavior of
complex issues in the business
individuals and firms, by analyzing how they respond to
CLO2 world.
changes in opportunities and constraints and how they
PLO1.2 Students can formulate
interact in markets
logical business-related plans.
CLO3. Infer and compare the optimal decision of the firms PLO1.1 Students can analyse
CLO3 in both competitive markets and markets in which agents complex issues in the business
act strategically. world
CLO4. Formulate recommendations for economic policy,
PLO1.2 Students can formulate
CLO4 by examining advantages and limitations of alternative
logical business-related plans
choices, and their welfare implications
CLO5. Communicate the results of economic analysis in a
--
clear and professional way.
Appendix C - COURSE POLICY

As per MUIC policy,
Uniform Policy
Students are required to wear proper attire while at MUIC, including exchange and visiting
students, especially when in class and during examinations.
MUIC is a high profile institution and it is considered quite an honor to be wearing its uniform.
Students are expected to strictly follow the university dress code norms. No cut-off jeans,
shorts, mini or short skirts, tank tops or low cut blouses, flip-flops, rubber or plastic sandals, or
house slippers are permitted. If the students neglected to wear the proper uniform, he/she will
not be allowed to enter the classroom and will be marked as absent on that day.
Examination Policy
Students must present their MUIC ID cards every time they take examinations. If they do not
have their ID cards, they must report to the Office of Academic Affairs and Research for a
temporary card and pay a fine as established by MUIC.
Students must wear proper uniform according to Mahidol University’s regulations; those wearing
jeans, short skirts, sandals and/or shoes with no back strap will not be allowed to enter the
examination room.
Students must arrive at the examination room on time. Those arriving more than 30 minutes
late from the start of the examination will be disqualified from taking the examination.
Students must not keep mobile phones, communication devices and/ or electronic recorders of
any type on their person during the examination.
Students must not bring textbooks, notes, documents, calculators or any objects that contain
formulas, texts or symbols related to the examination into the examination room unless
authorized and clearly indicated by the lecturer. When dictionaries or other reference materials
are allowed during the examination, they will be checked by proctor. Electronic dictionaries are
not allowed.
For further rules of Examination, please consult MUIC regulation.
Calculators
Scientific calculator is required in most of the classes. It is the student’s responsibility to bring
the calculator for every class. Students are not allowed to use smart phones during the
examinations and if use, it will be considered as violating the examination according to MUIC
policy.
Plagiarism
Plagiarism and the use of material published for instructors are also transgressions of academic
integrity. Evidence of such conduct will automatically be reported to the department and
college administration and is ground for a penalty, including the possibility of expulsion from the
course and/or an automatic final grade of F.
Classroom environment
Students are expected to assist in maintaining a classroom environment that is conducive to
learning. Unless otherwise approved by the instructor, students are prohibited from engaging in
any other form of distraction, such as using mobile phones, tablets, reading newspapers or
magazines, etc.
All electronic devices must be turned off during class time. Permission from the instructor is
required to leave a device on in an emergency.
Students are not allowed to bring food or drinks in the classrooms.
Smoking is prohibited everywhere on campus. Designated smoking areas are provided for
smokers. Students who violate the smoking restrictions may be fined.

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Major Required course

Course Title: Intermediate Microeconomics / Undergraduate

TQF 3 Course Specifications

2. Number of credits 4 (4-0-8)

3. Program and type of subject

4. Course Responsible Lecturer and Course Lecturer

5. Trimester/ Year of Study

6. Pre-requisite ICMB203 / ICMB205 Microeconomics

2. Objectives of Course Development/Revision

2.2. Course-level Learning Outcomes: CLOs

2. Credit hours per trimester

the responsible lecturer (Monday – Friday, during office hours).

Section 4 Development of Students’ Learning Outcome

Section 5 Teaching and Evaluation Plans

(3) Re-examination (If course lecturer allows to have re-examination)

Section 6 Teaching Materials and Resources

Section 7 Evaluation and Improvement of Course Management

3. Improvement of teaching methods

results of the evaluation of Course Learning Objectives

5. Review and plan for improving the effectiveness of the course

Table 3 The description of PLGs and PLOs of the course

Appendix C - COURSE POLICY

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