EKO 1101 – INTRODUCTION TO ECONOMICS I

Credit Hours: 3

Course Description
This course is an introductory level of economics, especially microeconomics, that will teach
students how economists see the world. Students will be introduced to priciples, terms, and
illustrative examples how an economy works and how economists think. This course covers
main themes in microeconomics at introductory level: rationality—how an economic decision
made, trade, public good, firm behavior, markets and welfare.

This course shows to the students on how economists analyze producer’s behavior, market
structure, and welfare. The instructor can always provide real-life examples to make sure the
students can grasp the idea and its underlying institution. The main goal is to train students to be
able to understand basic concepts of economics and start thinking like an economist.

Course Objectives
1. Upon completion of the course students are expected to be able to:
2. Define basic concepts in economics, covering rationality, trade, public good, firm behavior,
markets and welfare.
3. Understand basic concepts in economics in point 1.
4. Apply an introductory level of economic theory for basic and limited cases using the
concepts learned in point 1.
5. Demonstrate an ability to distinguish the concepts in the scope of introductory level in point
1.

Course Materials
Prescribed textbook:
Mankiw, N. G. (2018). Principles of economics, 9th eds. Cengage Learning.

Recommended textbooks and readings:

Colander, D. (2016). Economics, 10 eds.McGraw-Hill.

Website relate to this course:

https://www.khanacademy.org/economics-finance-domain/microeconomics
https://www.edx.org/course/microeconomics-1
https://www.econlib.org/library/Enc/Microeconomics.html
https://www.cengage.com/s/economics/principles-of-economics

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Student’s Responsibilities
Class meeting will be used by the instructor to confirm student’s understanding of the underlying
concepts covered in the course. Students should read the chapter assigned and are required to do
and submit the individual homework assigned and group assignment before each class meeting.
Students are expected to attend all scheduled class meetings. Absence from class meetings shall
not exceed 25%. Students who exceed the 25% limit without the excuses acceptable to and
approved by the FEB rules and regulations shall not be allowed to take the final exam.
Operating laptop, mobile phone, and other communication devices are strictly prohibited during
class meetings, unless asked to do so. Any student found operating these devices without the
instructor permission should leave the class and will be considered as an absence for the class
meeting.

Academic Integrity
Academic integrity forms a fundamental bond of trust between colleagues, peers, lecturers, and
students, and it underlies all genuine learning. There is no tolerance for plagiarism or academic
dishonesty in any form, including, but not limited to, viewing the exams of others, sharing
answers with others, using books or notes while taking the exam, copying answers or papers, or
passing off someone else’s work as one’s own. A FAILURE OF AN ENTIRE COURSE (a
grade of “E”).
The Department of Economics FEB UGM does not tolerate academic dishonesty. All violation
will be recorded in the FEB systems. All of assignments and homework (if any) must be
submitted both softcopy and hardcopy, unless being asked differently.
For the first offense, a student who violates the academic integrity will receive a zero point for
the assignment (i.e. homework, quiz or exam). For the second offense, the student will receive a
grade of “E” in the course where the student commits the second. For the third offense, the
Department will recommend that the student be dismissed from the University.

Teaching Methods
Due to the nature of the course, this course will be delivered using a classical approach.
Nevertheless, discussion will be used intensively in class to confirm students‘ understanding
about the materials.

Grading
Your grade will be determined based on your total score on the following items:
Mid Exam 35%
Final Exam 35%
Quizzes 20%
Assignments 10%
100%

Course Outline
Meeting Topic Reference CO
(main
textbook)
1 Introduction, ten principles in economics Ch.1 1-4

2 Thinking like an economist Ch. 2 1-4

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Meeting Topic Reference CO
(main
textbook)

3 Interdependence and the Gains from Trade Ch. 3 1-4

4 Demand and Supply Ch. 4 1-4

5 Elasticity Ch. 5 1-4

6 Government polices Ch. 6 1-4

7 Markets and Welfare Ch.7-9 1-4

MID EXAM
8 Externalities Ch. 10 1-4

9 Public Goods Ch. 11 1-4

10 Costs of production Ch. 13 1-4

11 Competitive markets Ch. 14 1-4

12 Monopoly Ch. 15 1-4

13 Monopolistic competition Ch. 16

1-4
14 Oligopoly Ch. 17 1-4
FINAL EXAM

Important Notes
Academic integrity. To achieve the best possible learning experience, students must complete
all of the assignments in the course on their own. If a student fails to complete their
own work they are cheating themselves out of their education and are committing plagiarism.
Plagiarism or failing to meet the academic honesty policy will result in dismissal from the
class. When an offence occurs, the student receives a minimum of zero credit for the entire
paper, exam, quiz, homework, etc, in which the incident of academic dishonesty occurred up
to a failing grade in the course and additional sanctions from the University.
Attendance. Class will always begin on time. Although attendance does not affect the grade,
students need to follow the rule of FEB UGM on the minimum attendance to take the mid and
final exams as stated above.
Study. Students need to read the materials before the class and be ready to have pop quizzes.
Students need to be highly self-motivated and have good time management skill and use their
time wisely.
Etiquette. A majority of class time is spent sharing opinions and sharing information. Therefore,
it is of utmost importance to communicate with courtesy and professionalism. Professional

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Courtesy includes respecting others’ opinions, being courteous and respectful, and
working together in the spirit of cooperation.
Communication. Students can contact the lecturer via email to set up an appointment.
Submission of Assignments. All assignments must be completed by the due date (usually
in a week) unless an alternate due date has been previously approved or documentation has
been provided for extreme circumstances. It is the student’s responsibility to communicate
with the instructor about extreme circumstances or questions concerning the assignment and
their due dates. Assignments will be submitted in class and will not be accepted by email.