Introduction to Microeconomics

This course provides students with an understanding of the fundamental concepts of microeconomics and their application to everyday decisions made by individuals, firms, and governments. The course covers topics such as supply and demand, market equilibrium, consumer behavior, production and costs, and market structures. Through the use of real-world examples, case studies, and economic simulations, students will learn how microeconomic principles influence the economic world around them.

Upon successful completion of this course, students will be able to:

• Understanding of Microeconomic Principles: Students will gain a comprehensive understanding of core microeconomic concepts, including supply and demand, elasticity, utility, and cost structures.
• Analytical Skills: Develop the ability to analyze how consumers and businesses make decisions and how these decisions affect market outcomes in various types of market structures, such as perfect competition, monopoly, and oligopoly.
• Decision-Making Applications: Learn to apply microeconomic theories to real-world scenarios, enhancing decision-making skills in personal and professional contexts.
• Critical Evaluation of Economic Policies: Understand the impact of government policies on microeconomic behavior and market outcomes, and critically assess the effectiveness of different economic interventions.

These outcomes aim to equip students with the knowledge and skills necessary to understand and analyze key microeconomic activities and policies, preparing them for further studies in economics or related fields.