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Course List

Micro-Economics (1)

  • Course Code :
    ECN 102
  • Level :
    Undergraduate
  • Course Hours :
    3.00 Hours
  • Department :
    Faculty of Commerce & Business Administration

Instructor information :

Area of Study :

Micro economics is the branch of economics that is concerned with the individual behavior such as markets, firms and consumers. The basic economic concepts on the micro level are discussed. We study here how the price of a good and how the price of factors of production (land, labor and capital), are set and how all this affect the market .i.e. whether it strengthens the market or weakens it. The key terms here are: Supply and demand and price determination, the firm theory, the consumer theory, market structures, and social welfare.

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Micro-Economics (1)

Micro economics is the branch of economics that is concerned with the individual behavior such as markets, firms and consumers. The basic economic concepts on the micro level are discussed. We study here how the price of a good and how the price of factors of production (land, labor and capital), are set and how all this affect the market .i.e. whether it strengthens the market or weakens it. The key terms here are: Supply and demand and price determination, the firm theory, the consumer theory, market structures, and social welfare.

For further information :

Micro-Economics (1)

Course outcomes:

a. Knowledge and Understanding:

1- Define the concepts of economics, scarcity, opportunity cost, margenalism, production possibility frontier, types of economics and types of economic systems.
2- Understanding the basic elements of supply and demand and the different types of elasticities and their application
3- Understand how individuals take their buying decisions.
4- Applying the theory of the firm to understand how firms maximize profits.
5- Analyse the different types of the markets

b. Intellectual Skills:

1- Apply economic reasoning to decision problems.
2- Use economic analysis to construct explanations for observed economic actions.
3- Understand the nature of opportunity cost in decision making.

c. Professional and Practical Skills:

1- Acquires skills to solve problems in different theoretical and practical situations
2- Engage in abstract thinking by extracting the essential features of complex systems to facilitate problems solving decision- making.
3- Plan and manage their time effectively in relation to deadlines.
4- Communicate and present complex argument in oral and written form with clarity.

d. General and Transferable Skills:

1- Assess problems.
2- Interact efficiently with others.
3- Use quantitative analysis in problems solving.

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Micro-Economics (1)

Course topics and contents:

Topic No. of hours Lecture Tutorial/Practical
Introduction to Economics 4 3 1
2nd Mid Term 2 0 0
Different Types of Markets 4 3 1
Long run Costs 4 3 1
Revision 4 3 1
Supply and Demand 4 3 1
Demand Elasticities 4 3 1
Supply Elasticities 4 3 1
Applications on Elasticities 4 3 1
1st Mid Term 2 0 0
Short- Run Production 4 3 1
Short- Run Costs 4 3 1
Profit Maximization 4 3 1

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Micro-Economics (1)

Teaching And Learning Methodologies:

Teaching and learning methods
Data show and computer in lectures.
White Board
Group Discussion

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Micro-Economics (1)

Course Assessment :

Methods of assessment Relative weight % Week No. Assess What

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Micro-Economics (1)

Books:

Book Author Publisher
Economics Paul A.Samuelson McGraw Hill
Intermediate Micro Economics A Modern Approach Hal R. Varian Norton

Course notes :

Power Points

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