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Home Room

In: Business and Management

Submitted By Kudoki
Words 741
Pages 3




This course is designed to enhance the students’ understanding of basic microeconomic concepts and theories in order to equip them with the basic conceptual abilities and skills in economic problem solving. The theories will include the basic economic problem, supply and demand analysis, consumer behaviour, market structure, production and cost and market failure.

The aims of this course are to enable students to:
Apply basic theoretical microeconomic models as a framework for understanding the real world problems.
Establish the ability to communicate ideas pertaining to the basic microeconomic concepts, theories and events effectively, both verbally and in writing.

Successful students will be able to:
Explain the core economic problems such as the scarcities and choices.
Explain how economic problems can be reduced by improving the use of available resources and by using the concept of opportunity cost.
Explain how equilibrium prices and goods are determined by using demand and supply curves analysis.
Explain the behavior of individual firms towards maximizing profits (minimizing costs) in a perfectly competitive or monopoly market in determining the optimal production of goods and services and optimal price level.
Calculate the necessary production costs to determine the profit maximizing output for different types of market.

Instructional/lecture: 3 hours per week, tutorial: 1 hour per week.
Total Student Learning Time (SLT) (L = Lecture; T = Tutorial; P = Practical; O = Others)

Face to Face (hr)
Guided & Independent Learning (hr)
Total Student Learning Time (hr)



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