Microeconomics

Program Overview

This program explores the interactions between individuals and firms in different market structures. Students delve into microeconomic principles, demand and supply, elasticity, consumer behavior, production decisions, market organization, and market failures. The program equips students with an understanding of how markets function and the role of government intervention.

Program Outline

Outline:

• Students study the interplay between individuals and firms in various market structures within the economy.
• Topics include:
• - Fundamental principles of microeconomics
• - Demand and supply in product and resource markets
• - Elasticity
• - Consumer behavior
• - Production decisions and costs in short-run and long-run
• - Market organization
• - Behavior of firms and industries in various market structures
• - Markets and welfare
• - Market failures and government intervention
• - Income distribution