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Principles of Microeconomics

Course Description

Microeconomics is a study of how individuals make decisions and how it affects the factors of production. This course is designed           to introduce learners with basic concepts of core elements of Micro economics and introduce with the theories of firms and models of market structure. 

Course Objective

This course is aimed to introduce the students with basic fundamentals of Microeconomics and help them understand the analysis of business, individual and industries in the market economy. This course will guide students in identification and evaluation of business and consumer alternatives to achieve the economic objectives. It will also help them in:

  • Achieve a better understanding on different economic fundamentals in relation with business and individuals
  • List out the determinants of demand and supply
  • Understand the terminologies like- opportunity cost, scarcity, economic decisions, marginal analysis, demand, supply etc.
  • Understand the costs of production and perfect and imperfect competition.

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