This course is meant to be an introduction to the decision‐making process of households, firms, and government, and the resulting allocation of resources through markets. The objective of the course is to provide students with a clear understanding of the subject of economics as it pertains to the behavior of consumers, firms, industries and society, and to their desires to get the most from a limited availability of resources.
Course Objectives & Learning Outcomes:
By the end of the course, student should be able to:
- understand the basic issues of microeconomics, as illustrated by key economic facts and examples from around the world;
- know the basic methods of microeconomics, including basic microeconomic principles and how they are used to build theories of economic behavior;
- apply these principles of economics to critically analyze and explain situations encountered in the real world.
Texts and References:
- Mankiw, G. N. (2007). Principles of Economics – 6th Edition, Thomson South-Western, USA.
- Robert S. Pindyck and Daniel L. Rubinfeld, MicroEconomics – 7th Edition, Pearson Higher Ed, USA.
- McConnel, C. R.; S. L. Brue and S.M. Flynn (). Economics: Principles, Problems and Policies, 19th Edition, McGraw-Hill Publication.