BPM1104 Microeconomics

The course intends to introduce students to various economic theories, concepts and tools of analysis and their relevance in decision making in the changing business world. Topics covered include, among others, consumer rational behavior, the concept of utility, the law of demand and supply, production theory and cost analysis; the theory of the firm and various forms of competition.

Objectives of the Course 

• This course is intended to enable students learn the theories and concepts in micro economics that will enable them explain and interpret economics behaviour and phenomenon in the business environment

Learning Outcomes
Upon completion of the course, students should be able to:

• Apply microeconomics principles in solving real world situation problems
• Use knowledge gained in this course to make rational decisions in their businesses or organizations
• Demonstrate knowledge of the consumer’s behavior under different economic situations