COURSE INFORMATION Course Title: APPLIED MICROECONOMICS

Code	Course Type	Regular Semester	Theory	Practice	Lab	Credits	ECTS
ECO 403	B	1	3	0	0	3	7.5

Academic staff member responsible for the design of the course syllabus (name, surname, academic title/scientific degree, email address and signature)	NA
Main Course Lecturer (name, surname, academic title/scientific degree, email address and signature) and Office Hours:	Dr. Dritan Osmani dosmani@epoka.edu.al , 09.30-17.30
Second Course Lecturer(s) (name, surname, academic title/scientific degree, email address and signature) and Office Hours:	NA
Teaching Assistant(s) and Office Hours:	NA
Language:	English
Compulsory/Elective:	Compulsory
Study program: (the study for which this course is offered)	Master of Science in Economics
Classroom and Meeting Time:	18.00-20.45
Code of Ethics:	Code of Ethics of EPOKA University Regulation of EPOKA University "On Student Discipline"
Attendance Requirement:	N/A
Course Description:	Applied Microeconomics aims at modeling economic activity as the interaction of specific economic agents that pursue their private interests. The applied microeconomic theory deals with the problems faced by decision makers in businesses, governments, non-profit organizations, firms and other institutions. This course offers students the understanding of the foundations of microeconomic analysis. The main objective is to develop student skills in application of basic microeconomic concepts in a wide range of managerial decisions as well as in public policy issues. Topics include: the nature of the firm, its costs, and the behavior of the supply; Consumer Behavior and Market Demand; Market forces, price formation and resource allocation; and, market power and price-setting behavior. Students will also be introduced to the most advanced aspects of microeconomic analysis, including topics such as risk decision making and imperfect information and more complex price strategies
Course Objectives:	Applied Microeconomics aims to model economic activities as the interaction of individual economic agents pursuing their private interests. Microeconomics theory applied to problems facing decision-makers in business, government, non-profit firms, and other institutions. This course provides students with the foundations of macroeconomic analysis. The primary objective is to develop the abilities of students to apply fundamental micro economic concepts to a wide range of managerial decisions , as well as public policy issues. Foundation topics include : the nature of the firm ; its costs and supply behavior ; consumer behavior and market demand; market forces, price formation and resource allocation; and market power and price -setting behavior. Students will also be introduced to more advanced aspects of micro economic analysis, including topics such as decision-making with risk and imperfect information and more complex pricing strategies.

BASIC CONCEPTS OF THE COURSE

1

Uitility

COURSE OUTLINE

Week	Topics
1	Economic Models and Mathematical Principles Basic to Applied Microeconomics
2	Market Forces : Demand and Supply
3	Quantitative Demand Analysis
4	Consumer Choice
5	Choice under Uncertainty
6	Production with One Variable Input
7	Production with One Variable Input
8	Costs of Production from the Output Side
9	Production with Two Variable Inputs
10	Production with More than One Output
11	Perfect Competition
12	Models of Monopoly and Imperfect Competition
13	Capital Budgeting
14	Overview of the course

Prerequisite(s):	n/a
Textbook(s):	Applied Microeconomics: Consumption, Production and Markets, David L. Debertin, 2012 Microeconomics Theory : Basic Principles and Extensions, Walter Nicholson, Christopher Snyder , eleventh edition, 2012. Managerial Economics: Theory and Practice, Thomas J. Webster, Academic Press An in imprint of Elsevier Science , 2003.
Additional Literature:	NA
Laboratory Work:	n/a
Computer Usage:	NA
Others:	No

COURSE LEARNING OUTCOMES

1	Understanding and use of the modelling process in economics
2	Understanding and use of the basic model of consumer behavior and demand. Being able to relate it to reality.
3	Understanding and use of the perfectly competitive market model and imperfect competitive market models. Interpretation of results and relation to the real world
4	Recognise the role of strategic thinking in oligopolistic market model and the empirical applications of microeconomics.
5	Explain the crucial role of information in modern business and use microeconomics theory to analyse information problems.
6	Students are able to apply some quantitative tools in solving some empirical problems.
7	This course will also be focus on the case study using firm level data
8	Students will be able to learn about the data analysis at micro level
9	They will have to present the research topic
10	review

COURSE CONTRIBUTION TO... PROGRAM COMPETENCIES (Blank : no contribution, 1: least contribution ... 5: highest contribution)

No	Program Competencies	Cont.
Master of Science in Economics Program
1	Students apply advanced knowledge in economics
2	Students explain the interaction between related disciplines and economics
3	Students apply scientific methods to address economic problems
4	Students define existing theory in a specialized branch of economics
5	Students critically evaluate knowledge in economics and carry out advanced research independently
6	Students develop economic models and formulate policy options
7	Students make an original contribution to the discipline
8	Students effectively communicate in a variety of professional and academic contexts
9	Students will develop new strategic approaches for unexpected, complicated situations in economics and take responsibility in solving them
10	Students uphold and defend ethical values data collection, interpretation and dissemination
11	Students use advanced empirical analyses to address social problems
12	Students interact with professional networks in their field of specialization

COURSE EVALUATION METHOD

Method	Quantity	Percentage
Midterm Exam(s)	1	30
Project	0
Lab/Practical Exams(s)	2	5
Final Exam	1	50
Attendance		10
	Total Percent:	100%

ECTS (ALLOCATED BASED ON STUDENT WORKLOAD)

Activities	Quantity	Duration(Hours)	Total Workload(Hours)
Course Duration (Including the exam week: 16x Total course hours)	1	48	48
Hours for off-the-classroom study (Pre-study, practice)			0
Mid-terms	1	35	35
Assignments	2	24.75	49.5
Final examination	1	35	35
Other	1	20	20
Total Work Load:			187.5
Total Work Load/25(h):			7.5
ECTS Credit of the Course:			7.5

CONCLUDING REMARKS BY THE COURSE LECTURER

No Remarks.