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ECONOMICS
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 COURSE SYLLABUS
• Course name: Economics
• Course ID: IM1013 Credits: 3
• Instructor: Trần Duy Thanh Email: [email protected]
• Reference:
• Mankiw, N. G. (2017). Principles of economics. Cengage Learning.
• Karl, E., Case, F., Oster, R., & Sharon, E. (2017). Principles of Economics.
Pearson.
• McConnell, C. R., Brue, S. L., & Flynn, S. M. (2014). Economics: Principles,
problems, and policies. Boston McGraw-Hill/Irwin.

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Course Objectives
• Explain the basic economic concepts
• Explain supply, demand and market interaction
• Explain and analyse firm behaviors in different market
structures
• Describe basic economic objectives as well as national income
accounts
• Discuss inflation and unemployment and related problems
• Explain the financial system, money system, banking system and
the role of central bank.

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 COURSE DESCRIPTION
• Microeconomics
• Explain how people make decisions about selecting and using scarce resources
effectively.
• The topics are market supply and demand, elasticity, intervention policy,
production and costs, and market structure.
• Macroeconomics
• Explain and analyse on indicators of economic performance,
• Explain and analyze unemployment and inflation issues that correlate with
macroeconomic volatility.
• Describe and interpret the financial, monetary and banking system and its role in
policy regulation,
• Explain fiscal and monetary policy

LEARNING OUTCOMES
• Knowledge: CLO.1, CLO.2, CLO.3
• Skills
• Professional skill
• Soft-skills
• Attitudes
• Active learning, critical thinking and working;
• Confidence and responsibility in words and actions.
• Respect the differences.

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No Course Learning Outcomes

CLO.1 Explain and analyze economic concepts
CLO1.1 Explain basic economic concepts
CLO1.2 Explain market supply and demand, elasticity, ceiling price, floor price,
domestic taxes, import and export taxes (tariff), quotas, surpluses, dead weight
loss
CLO1.3 Interpret of externalities, public goods and market imperfections
CLO1.4 Explain production behavior, production function, diminishing marginal
productivity, sunk costs, explicit costs, implicit costs, economic costs, variable
costs, fixed costs, marginal cost, economies of scale, economies of scope
CLO.1.5 Explain how firms maximize profits in perfect competition, monopoly,
monopolistic competition, oligopoly. Explain game theory, dominant strategy,
Nash equilibrium.

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CLO.1 Explain and analyze economic concepts
CLO.1.6 Describe the economic cycle, Identify and distinguish gross national product
(GDP), gross domestic product (GNP), current GDP and real GDP, PPP GDP.
Determine the price index and know how to use the price index to calculate
inflation rates. Describe the components of GDP using the expenditure method.
CLO.1.7 Describe unemployment and the main causes of unemployment, know how
unemployment is calculated. Describe inflation and the main causes of inflation,
monetary inflation, push cost inflation, demand pull inflation. Describe the
relationship between inflation and unemployment. Distinguish between cost push
and demand pull inflation.
CLO.1.8 Distinguish financial, monetary and banking systems. Explain the money supply
system and its function. Discuss the role of central banks and policies
CLO.1.9 Discuss the impact of fiscal and monetary policy. Define budget deficits, budget
surpluses and budget balances. Compare the differences and similarities of
macroeconomic policies. Identify the methods that the central bank uses to
control money supply.

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No Course Learning Outcomes

CLO.2 Discuss and solve economic problems
CLO2.1 Identify and calculate opportunity cost, absolute advantage, comparative
advantage, specialization and exchange
CLO2.2 Determines equilibrium price and quantity, elasticity, ceiling price, floor price,
taxes, producer surplus, consumer surplus, loss.
CLO.2.3 Determine price, output, revenue, profit when the firm maximizes its profit in
different market structures.
CLO.2.4 Draw diagrams to demonstrate pricing decision in different market structures.
CLO.2.5 Determine the profit pay-off, determine the dominant strategy, Nash
Equilibrium.
CLO.2.6 Calculate and interpret GDP nominal, real GDP, CPI, Deflator, inflation rate, price
index
CLO.2.7 Calculate and explain the labor data, labor force participation rate,
unemployment rate.
CLO.2.8 Identify the budget decifit/surplus, national saving, public saving, private saving,
money multiplier
CLO.2.9 Draw diagram to demonstrate the impact of macroeconomic policy to ASAD.

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CLO.3 Analyze and evaluate of economic problems
CLO3.1 Analyze and evaluate the impact of specialization and Exchange
CLO3.2 Analyze and evaluate the impact of government policy intervention on the
market.
CLO3.3 Analyze and evaluate the government policy to remedy the market failures
CLO.3.4 Analyze and compare firm interaction in different market structures.
CLO.3.5 Compare and contrast the different macroeconomic indicators.
CLO.3.6 Analyse the impact of macroeconomic policies

CLO.4 Communicate and work effectively in groups

CL.O.4.1 Identify and Define problems
CL.O.4.2 Examine the causes in specific contexts
CL.O.4.3 Collect and analyse information
CL.O.4.4 Identify the aggregate view and apply various perspectives on the problems
CL.O.4.5 Analyze and present the cases

CLO.5 Appreciate the responsibility and ethics issues in economics

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Skills and Attitude

SKILLS
• Professional skills: be able to explain, analyze, discuss certain socio-economic
phenomena.
• Soft skills: (B2 level)
• Critical thinking, analytical thinking, reasoning and giving evidence;
• Problem solving;
• Communication, teamwork;
• Project management and time management
• Dynamic and creative thinking.
• Self-study skills.
ATTITUDE:
• Active learning, working seriously and effectively;
• Adapt to change
• Confidence and responsibility in words and actions.
• Respect for differences and people

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 ASSESSMENT
No Items Learning outcomes Ratio
1 Assignment BT CLO1, CLO2, CL5 15%
2 Midterm exam KT CLO1, CLO2, CLO3 35%
3 Project BTL/TL CLO1, CLO3, CLO4, CLO5 15%
4 Final Exam Thi CLO1, CLO2, CLO3 35%
Assessment
No Descriptions CLO 1 CLO 2 CLO 3 CLO 4 CLO 5
Weight
CLO Weight 40% 40% 10% 5.0% 5.0%
1 Quizzes 25% 10% 20% Quiz 15.00%
2 Midterm conceptual questions 35%
3 Midterm: solving problems 45% 30% Midterm 35.00%
4 Final conceptual questions 35%
6 Final: solving problems 45% 30% Final 35.00%
7 Project: Analyse the Microeconomic Issues 5% 40%
8 Project: Evaluate the ethical issues 80%
9 Project writing/presentation 100% Project 15.00%
Total 100% 100% 100% 100% 100% Total 100%

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SCHEDULE
No Contents Activities
1 Chapter 1. Introduction Mankiw 1,2.3
• Basic economic concepts, micro-economics and macro- Case & Fair 1,2
economics
• 10 principles of economics
• Production possibility frontier
• Circular flow diagrams
2-3 Chapter 2. Supply, demand and market Equilibrium Mankiw 4,5,6,7
• Supply, demand, market equilibrium 8,9, 10, 11
• The impact of shifts in supply and demand on market Case & Fair 3,4,5
equilibrium
• Elasticity of demand
• The impact of Government policies on the market:
ceiling price, floor price, taxes on output

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 SCHEDULE
No Contents Activities
4 Chapter 3. Cost and Production Mankiw 13
• Classification of costs Case & Fair 7,8,9
• Profit maximization decision
5-6 Chapter 4. Market structure models Mankiw 14,15
• Market structures Mankiw 16,17
• Classification of market structure Case & Fair 13
• Perfectly competitive market
• Monopoly

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SCHEDULE
No Contents Activities
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Chapter 5. National income Mankiw 23,24
• Gross national / gross domestic product Case & Fair 20,21
• GDP measurement, expenditure approach
• Compare GDP according to criteria: time, population,
purchasing power parity
8 Chapter 6. Aggregate demand and Aggregate Supply Mankiw 30 Case
& Fair 27,28
9 Chapter 7. Inflation and unemployment Mankiw 29
Case & Fair 22
10-11 Chapter 8. Financial, Monetary and Banking System Mankiw 27-2
Case & Fair 25
12 Chapter 9. Macroeconomic Policies Mankiw 32 Case
& Fair 24, 25
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 PROJECT
REQUIREMENT
• Group of 4-5 students - designated by the class list.
• Choose a interesting good/service that your team want to investigate.
• Write the analysis report (commentary) with theoretical arguments, evidence,
full citations.
• The groups prepare video presentation and post it on Youtube and share it in
elearning for other groups to see and comment. Video time ranges from 5-10
minutes. The score will depend on the nature of the content of the
presentation, the degree of view, likes, and meaningful comments.
• Refer to the APA's writing methodology for formatting, fonts, presentation,
citation and related issues: https://apastyle.apa.org/style-grammar-
guidelines/

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PROJECT
ORGANIZATION
• Report and video will be submitted online via class link.
• The management teams will follow and control the progress, remind, and
at the same time preparing a report on the situation of doing the
exercises of the remaining groups. As a management team, you identify
the type of topics, results, and issues and lessons that arise. The control
group will present the day of the last session of the selected groups.

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 Analyze the case based on the below
questions/learning outcomes
LO ITEMS
1 KNOWLEGE LEARNING OUTCOMES
1.1 Describe product/service/customer/value chain/supply chain
1.2 Explain and analyse determinants of demand
1.3 Explain and analyse determinants of supply
1.4 Identify and analyse Elasticity (price, cross price, Income)
1.5 Identify and analyze government intervention policies (if any): taxes, price ceilings, floors, subsidies..
1.6 Can the product/service compete with similar foreign products/services, import and export taxes, quotas, and other
forms of protection if any.
1.7 Identify and analyze external impacts (if any), analyze government intervention (if any) on the market.
1.8 Determine the fixed, variable cost structure of producing the product.
1.9 Identify and analyze capital structure affecting business costs
1.10 Are there any economy of scale, economy of scope, diseconomy of scale? Efficient output level
1.11 What market structure does the product/service belong to? Clearly explain the reasons, identift the level of market
competition, profit/loss
1.12 Identify the competitive advantages of the product/service.
1.13 Assessment of advantages and sustainable development of products and services.

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Analyze the case based on the below

questions/learning outcomes
2 ANALYSE AND EVALUATE THE ECONOMIC PROBLEMS
2.1 Analyze and evaluate the impact of specialization and Exchange (IF ANY)
2.2 Analyze and evaluate the impact of government policy intervention on the market.
2.3 Analyze and evaluate the government policy to remedy the market failures
2.4 Analyze and compare firm interaction in different market structures.
2.5 Compare and contrast the different macroeconomic indicators that related to the case
2.6 Analyse the impact of macroeconomic policies on this market
Analyze the impact of macroeconomic variables (inflation, unemployment, interest
2.7 rate...) on market
2.8 Analyze and evaluate the possible impacts of fiscal and monetary policies on market

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 Analyze the case based on the below
questions/learning outcomes
3 COMMUNICATE AND WORK EFFECTIVE IN GROUPS
3.1 idenfity and define problems
3.2 Examine the causes in specific contexts
3.3 Collect and analyse information
3.4 Identify the aggregate view and apply various perspectives on the problems
3.5 Analyze and present the cases (written and oral presentation)
APPRECIATE THE RESPONSIBILITY AND ETHICAL ISSUES IN
4 ECONOMICS
4.1 Assign the member role
4.2 Evaluate the member performance
4.3 Check Citation, plagiarism

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Truth and reality

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 Ear Eyes

One

King
Heart

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危機
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Bloom's Taxonomy

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