Principles of Microeconomics (ECOB1003)

This course is designed to introduce key microeconomics concepts and techniques applicable as tools for rational economic decision making within the micro framework. The course aims to demonstrate the relevance and usefulness of economic analysis to real world business situations. Emphasis is placed on optimal decisions making within the firm and the strategic relationship with other business. Using microeconomic theory, the students will be able to understand the concepts of demand and supply, the price determination in the market, firm behavior and the structure of the markets.

CLO: 1. Introduce key microeconomics concepts and techniques applicable as tools for rational economic decision making
CLO: 2. Demonstrate the relevance and usefulness of economic analysis to real world business situations
CLO: 3. Understand the concepts of demand and supply, the price determination in the market, firm behavior and the structure of the markets