INTRODUCTORY MICROECONOMICS

Students undertaking this course will be introduced to what Economics is About, Scarcity, Choice and opportunity cost, The nature and role of theory, Scientific thinking, Economic categories, The Production Possibilities Frontier (PPF) Framework: Resources, the PPF, scarcity, choice, opportunity cost, economic growth, efficiency. Theory of Supply, Demand and Price.                                                                                                                                                                                                                                               objectives:

1. Provide the students with basic understanding of microeconomics, why its necessary to make choices in life.
2. Enable students appreciate the role of microeconomics in the market arena.
3. Enable students understand Why firms exist, and be able to apply this knowledge to their day to day dealings with their economic environment.