Syllabus data

Teacher name ： HYOJI KWON
Course Title
Introductory Microeconomics
Course Title in English
Introductory Microeconomics
Course Type
Major Courses
-
Eligible Students
School of Economics and Management
Target Grade
All
Course Numbering Code
KCCBG1MCA1
Credits
2.00Credits
The course numbering code represents the faculty managing the subject, the department of the target students, and the education category (liberal arts / specialized course). For detailed information, please download the separate manual from the upper right 'question mark'.
Type of Class
講義 (Lecture)
Eligible Year/Semester
Fall semester 2026
(Fall semester)
Instructor
HYOJI KWON
Affiliation
School of Economics and Management
Language of Instruction
English
Related SDGs
4
Office Hours and Location
Monday, 13:00–17:00
Research Building 1, Room A320
If you wish to visit, please schedule an appointment in advance via email. Appointments outside the above time slot may also be arranged through prior email.
Contact
kwon@em.u-hyogo.ac.jp

Corresponding Diploma Policy
A double circle indicates the most relevant DP number and a circle indicates the associated DP.
Corresponding Undergraduate School DP
1◎／2〇／3〇
Corresponding Graduate School DP
ー
Corresponding University-Wide DP
N/a
Academic Goals of Teacher Training Course
ー

Course Objectives and Learning Outcome
Course Objectives
The primary objective of this course is to provide a rigorous understanding of the micro-foundations of the economy. We focus on the decision-making processes of economic agents (individuals and firms) and their interactions within various institutional frameworks. Students will acquire the fundamental analytical frameworks necessary to understand modern economic issues, moving beyond simple supply and demand to analyze Choice, Strategy, and Contracts.

Learning Outcomes
By the end of this course, students will be able to:
  1. Analyze Rational Choice: Understand the logical structure of decision-making under scarcity using optimization frameworks. 
  2. Understand Strategic Interaction: Apply Game Theory to analyze strategic interdependence and social dilemmas. 
  3. Evaluate Economic Outcomes: Assess allocations using rigorous criteria of efficiency and fairness. 
  4. Analyze Institutions & Contracts: Understand how rules and incomplete contracts shape outcomes in labor and credit markets.
Subtitle and Keywords of the Class
Subtitle
Micro-foundations: Choice, Strategy, and Institutions

Keywords
Constrained Optimization, Game Theory, Strategic Interaction, Institutions, Allocative Efficiency
Course Overview and Schedule
Course Overview
This course systematically explores the core building blocks of microeconomics. Instead of immediately jumping into abstract market supply and demand curves, we begin with the economic agent. We first model how individuals make rational choices under scarcity. Next, we analyze strategic interactions between individuals using Game Theory. Finally, we examine how these interactions are structured by institutions (the "rules of the game"), specifically exploring power dynamics and contracts in labor and credit markets.

Weekly Schedule
Week 1: Introduction & Unit 1 - Prosperity, inequality, and planetary limits
Week 2: Unit 2 - Technology and incentives
Week 3: Special Session – Mathematical Foundations
Week 4: Unit 3 - Doing the best you can: Scarcity, wellbeing, and working hours (1)
Week 5: Unit 3 - Doing the best you can: Scarcity, wellbeing, and working hours (2)
Week 6: Unit 4 - Strategic interactions and social dilemmas (1)
Week 7: Unit 4 - Strategic interactions and social dilemmas (2)
Week 8: Midterm Examination
Week 9: Unit 5 - The rules of the game: Who gets what and why (1)
Week 10: Unit 5 - The rules of the game: Who gets what and why (2)
Week 11: Unit 6 - The firm and its employees
Week 12: Unit 9 - Lenders and borrowers and differences in wealth (1)
Week 13: Unit 9 - Lenders and borrowers and differences in wealth (2)
Week 14: Unit 10 - Market successes and failures: The societal effects of private decisions (Selected part only)
Week 15: Course Review & Synthesis - Connecting "Agent Behavior" to "Market Systems."
Final Examination
In-person/Remote Classification
In-person
Implementation Method and Remote Credit Limit Application
• In-person classes only
• Not subject to the cap on distance-education credits
Uses of Generative AI
Limited permission for use
Precautions for using Generative AI
Since the Midterm and Final exams are face-to-face, closed-book, and pen-and-paper only, the use of Generative AI is strictly prohibited. Any possession or use of electronic devices during exams constitutes a serious violation and will result in an immediate failing grade.
For self-study, students are permitted to use AI autonomously. However, over-reliance is strongly discouraged, as it may hinder the development of the independent thinking skills required for the actual exams.
Textbook
Main Textbook: 
  • The CORE Team, The Economy 2.0: Microeconomics (Open Access).
  • Available at: core-econ.org 

Supplementary Textbook (Mathematics): 
  • Pemberton, M., & Rau, N. (2015). Mathematics for economists: An introductory textbook (5th ed.). Manchester University Press. 
  • Note: This text is recommended for students who wish to strengthen their mathematical foundations for economic analysis. 

Lecture Notes: Slides and supplementary materials will be provided via the UNIPA.
References
Paul Krugman and Robin Wells, 2015, Economics(4th edition), Worth
Gregory Mankiw, Principles of Economics, Cengage Learning
Contents and Estimated Time for Pre- and Post- Learning (Preparation and Review)
【Preview】Students are encouraged to read in advance each section of the textbook (90 minutes).
【Review】Students are encouraged to review the lecture notes and solve the problem sets or review questions (150 minutes).
Contents of Active Learning
During the lecture, students will engage in online quizzes related to the lecture topics using Google Forms. These activities are designed to reinforce key concepts and encourage active participation in the learning process.
Grading Criteria and Methods
Grading Criteria
Students who can comprehend and apply basic concepts in microeconomics will be awarded credits based solely on their scores, with grades of S (90 points or higher), A (80 points or higher), B (70 points or higher), and C (60 points or higher).

Grading Methods
The evaluation will be determined by a midterm exam (30%), a final exam (30%), and online quizzes and decision-making exercises given in every lecture (40%).
How to Disclose Assignments and Exam Results
via UNIPA
Precautions and Requirements for Course Registration
  • Students are strongly required to regularly participate in lectures and activities.
  • Students are expected to attend lectures after reading the relevant sections of the textbook listed in the Schedule.
  • Students are encouraged to solve questions and exercises in the textbook to deepen their understanding.
  • Basic mathematical skills are required. While calculus is not necessary, a solid understanding of equations and the ability to interpret function graphs is essential for effectively following the lecture content.
Practical Education
Remarks
In cases where any differences arise between the English version and the original Japanese version, the Japanese version shall prevail as the official authoritative version.