Course Code :


Title :


Type/Status :


aaaaaaaaaaaa Aims :

This course module is designed to provide a clear understanding of basic concepts of economics and a wide knowledge on individual economic behaviour of the consumer and different types of firms.

Learning Outcome : aaaaaaaaaaaaaaaa
By the end of this course unit students should be able to:
  • identify the principles and analytical tools developed by economists that are important to the business world.
  • identify the economic behavior of individual consumers, recourse owners and business firms.
  • identify the behavior of different markets.
  • explain how price and output are determined under different markets.


Course Content : Introduction; Determination of prices; Demand, Supply and Market equilibrium. Measurements of elasticity; Theory of consumer behavior; Marginal utility analysis, Indifference curves and Revealed preference theory. Theory of production; Production with one variable input, production with two variable inputs. Market structures; Price and output determination under Perfect competition, Monopoly, Monopolistic competition and Oligopoly. Game theory and Oligopolistic behavior; General equilibrium and Welfare economics.

Method of Teaching & Learning:

Lectures, Tutorial and Assignments.

Scheme of Evaluation:

End semester examination, Assignments and Tests. The weights given to each component of the evaluation method is announced at the commencement of the module

Recommended Readings: Crystal K.A. and Lipsey R.G., (1997), Economics for Business  Management, Oxford University Press.

Dwivedi D.N., (2006), Microeconomics Theory and Applications, Pearson Education

Salvatore D., (2003) Microeconomic Theory and Application, (4th Ed.), Oxford University press.

Salvatore D., (1994), Microeconomics (Schaum’s Outline Series), (4th Ed.), New   York, McGraw Hill.