An introduction to the principles of economic analysis and their implications for Japanese economy. This course is intended primarily for students majoring in science or engineering without significant prior study in economics.
Several key concepts and principles are explained in the class. Using Japanese economy as an example, students will see how to use these tools in economic analysis.
By the end of this course, students will :
1) be familiar with several concepts and principles in economics
2) know how these concepts and principles are used in economic analysis
3) understand some key issues in the Japanese economy
|✔ Applicable||How instructors' work experience benefits the course|
|The instructor has experience in analyzing the Japanese economy at private think tank and government. Participants will know how basic principles are used in actual issues.|
economics,Japanese economy,microeconomics,macroeconomics,economic policy
|Specialist skills||✔ Intercultural skills||Communication skills||Critical thinking skills||Practical and/or problem-solving skills|
A few new concepts and principles will be introduced each class. Actural phenomena in the real economy are explained by using these concepts. Class will discuss some related topics.
|Course schedule||Required learning|
|Class 1||What is economics. The functions of markets||Supply and demand, partinal and gereral euilibrium, consumer and producer surplus|
|Class 2||Firms: Cost and Profit||variable and fixed cost, sunk cost, imperfect competition, behavior of Japanese firms|
|Class 3||Macroeconomics :||GDP, unemployment, fiscal policy, sustainnability of government deficits, Domar condition|
|Class 4||Consumer : effects of population aging||life-cycle hypothesis, household saving ratio, I-S balance|
|Class 5||Financial Market and Monetary policy||present value, arbitrage, asset price, bubble,inflation and deflation, monetary policy|
|Class 6||Trade and International economy||comparative advantage, division of labor, Balance of Payments, exchange rate|
|Class 7||Economic growth||Trend and cycles, production function, growth accouting, investment and depreciation|
To enhance effective learning, students are encouraged to spend approximately 100 minutes preparing for class and another 100 minutes reviewing class content afterwards (including assignments) for each class.
They should do so by referring to textbooks and other course material.
Textbooks are not used. Each class, a handout will be provided.
Handouts will be available on OCW-i. Participants are strongly recommended to read economic articles on newspapers and magazines.
assignments and quizzes after class 60%, a short essay at the end of quarter 40%.