FIRST SEMESTER - 2003-2004 (031)


Instructor         :           Dr. Mubarak Al-Ghamdi

Course           :           Econ 101.01 (9:00-9:50, SMW, B24/135)                        

Office              :           B24/209, Phone 2450

Office Hours   :           8:00-9:00 A.M. (SMW) and by appointment

Textbook        :           Economics, by Lipsey, et al, 12th Ed., 1999

                                    Study Guide, by Menz & Mutti, 12th Ed., 1999

Email              : 

Internet Assignments:           [see p. 3 of this syllabus].

Course Description:  Econ 101 is concerned with the workings of Microeconomics.  It defines the economic problem and explains why it exists in each and every society.  Further, it analyzes the role of each economic agent or decision maker - - namely, the economic roles played by the households, firms, and government agencies – and their effects on economic activities in the market system.


Course Objectives:  The course attempts to give students good background in the behavior of the price system in terms of the analysis of demand, supply, price determination, elasticities, consumer behavior, production and costs in different market structures, as well as pricing of factors of production, and knowledge of public goods and externalities.


Week                                        Chapter                               Topic

  1st      13-17Sep03              Chapter   1                 The Economic Problem

  2nd     20-24Sep03              Chapter   2                 Economics as A Social Science

  3rd      27Sep03-                   Chapter   3                 The Anatomy of Market Economy


  4th      04-08Oct03               Chapter   4                 Demand, Supply, and Price

  5th   11-15Oct03                  Chapter   5                 Elasticity

First Major Exam, Thursday, 23 October 2003

Covers Chapters 1-5

Old Administration Building (OAB) – 1:00-3:00 PM

  6th      18-23Oct03               Chapter   6                 Demand and Supply in Action

  7th      25-29Oct03               Chapter   7                 Consumer Behavior

  8th      01-05Nov03               Chapter   8                 Production and Cost in the Short Run

  9th      08-12Nov03               Chapter   9                 Production and Cost in the Long-Run


Eid Al-Fitr Vacation

13-29 November 2003


10th     30Nov03-                   Chapter 10                 Competitive Markets



Second Major Exam, Sunday07 December 2003

Covers Chapters 6-10

Old Administration Building (OAB) – 5:30-7:30 PM


11th     06-10Dec03              Chapter 11                 Monopoly

12th     13-17Dec03              Chapter 12                 Imperfect Competition

13th       20-24Dec03              Chapter 13                 Economic Efficiency and Public Policy

14th     27-31Dec03              Chapter 14                 Inside the Firm

15th     03-07Jan04               Chapter 15                 Factor Pricing and Factor Mobility


Final Examinations, 10 – 20 January 2004

Covers Chapters 11-15


Course Requirements


1.         Two Major Exams (30% each)                                                                      60%

2.         Final Exam                                                                                                       30%

3.         Quizzes (5) and class participation                                                   10%


Total                                                                                                    100%


Special Note:           Hats are ABSOLUTELY not allowed to be worn in class!


Important Rules


1.         Major exams have equal weight.


2.         No make-up examinations or quizzes.


3.         Attending is compulsory.  Nine (9) unexcused absences will lead to "DN”.


4.         Important Note:  For each unexcused absence, one point will be deducted from the OVERALL course grade.  For example, 8 unexcused absences = 8 points to be deducted from the OVERALL grade.  If a student got 70 points which is a "C" grade, then the final course grade would be 62 points which is, unfortunately, a "D" grade!














AACSB Perspectives:


The AACSB expects business curricula to incorporate a variety of perspectives on critical issues such as (1) ethical and global issues, (2) the influence of political, social, legal and regulatory, environmental and technological issues, and (3) the impact of demographic diversity on organizations.  The pervasiveness of these critical issues in economics is well-known at both levels, microeconomics as well as macroeconomics.  Needless to say, almost every chapter in an economics textbook talks about the above-mentioned critical issues in one form or another.


Computer Usage:


Students of Econ 101 (Microeconomics) are required to take advantage of the Internet services shown in the following sites.  These economic services are free and considered to be applications of economic theories, as well as many self-test quizzes on each chapter to help students understand economic implications and prepare for major exams.  The sites are:







Communications Skills:


Student oral communication skills are developed through class participation in discussion of the subject matter, in questions-and-answers sessions, explanations and clarifications of some issues under discussions, etc.  Written communication skills are developed and enhanced through taking quizzes, exams, writing short essays and definitions of related economic terminologies and their economic implications.


Note:   This class requires three tools: strong English, use of graphs, and elementary math.


Assignments on the Internet:  Students are required (and held responsible) to go to this Website,, and study the “Multiple Choice Quizzes” which cover the major topics in each chapter we have covered.  Other Websites are shown above (p.3 of this syllabus).  They can be used as additional sources to enrich students’ economics background and help prepare them for exams and quizzes.


Website on Economics, by Lipsey, et al (1999), 12/e





                                                                                    Click on:

Student Support





                                                                                                                                    Click on



Under “How can I. . . . hAccess my book’s website”  :Textbook Website








4.  Under choose a discipline, select                                                                                                                     








     Under choose an author, select





Student Resources



5.  Click on    





6.  Choose a chapter:           1 – 38 chapters


Multiple Choice Quiz


7.  Click on