Description
Course Objective: This course intends to expose the students to the basic principles in microeconomics and their applications. The course will illustrate how microeconomic concepts can be applied to analyze real-life economic situations.
Course Learning Outcomes: The students learn some basic principles of microeconomics and interactions of supply and demand, characteristics of perfect competition, efficiency, and welfare.
Unit 1: introduction
Problems of Scarcity and Choice:
Demand And Supply:
Applications of Demand and Supply:
Elasticity:
Unit 2: Consumer Theory
Unit 3: Production And Costs
Production:
Costs:
Unit 4: Perfect Competition
Assumptions:
Welfare:
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