Micro Economi Essay

University of Administration &

Administrative Sciences

GC University, Faisalabad.

Tel: +92-041-9201167Weekly Operate Plan Particular date: February, 2013 Instructor: Meters. Tayyab KashifDesignation: Lecturer

Email: tayyab. [email protected] comCredit Several hours: 3 (3-0)

Course Code: MBA-Course Subject: Micro Economics

Class: MBASemester: 2nd (M+E)


Principles of Microeconomics are a great introductory program that shows the fundamentals of microeconomics. This program introduces microeconomic concepts and analysis, supply and demand analysis, hypotheses of the organization and specific behavior, competition and monopoly, and wellbeing economics. Pupils will also be brought to the use of microeconomic applications to deal with problems in current monetary policy throughout the semester. This program aims to bring in to learners the concepts of shortage and decision, and their affects in the decision-making process of individual consumers, categories of consumers, and firms. The course looks at: price system (demand, source and price) and portion of methods; comparative edge and specialization; the theory with the firm – short run and long run cost/revenue structure and the interaction among markets.

SPECIFIC GOALS: Upon completing the program, students must be able to: 1 . Establish economics.

2 . Identify the " economic state of mind, ” which include definitions of rational patterns, marginal price, marginal rewards and how these concepts can be used in making decisions. 3. Recognize the three fundamental economic questions and describe how the market system answers each of these three basic queries. a) determine and explain the factors of creation

4. Condition some crucial reasons for learning economics.

5. Make clear how economic analysts use the medical method to produce economic guidelines. 6. Distinguish between microeconomics and macroeconomics. 7. Differentiate between positive and normative economics. eight. Explain and provide examples of several hidden fallacies.

9. Identify types of monetary resources and types of income linked to various elements. 10. Explain the concept of balance price and quantity and illustrate graphically equilibrium price and quantity. 11. Make clear the effects of an amount change for starters good on the demand for its substitutes or perhaps complements doze. Explain in short , how principles of supply and require apply to aspect markets. 13. Define usual profits and economic income and clarify the difference between them. 14. Determine elasticity of demand

15. Explain why a consumer will purchase more (less) of a product when the price is catagorized (rises) by making use of income and substitution effects. 16. Specify marginal power and condition the law of diminishing marginal utility. seventeen. Explain the law of reducing return.

18. Distinguish between the brief and long run.

19. Explain the between typical and marginal costs. twenty. Explain the difference between growing process and long term costs. twenty-one. Compute and graph total revenue, average revenue and marginal earnings.


A combination of classes, simulations, guests speakers, circumstance studies, videos, small group-work and pupil presentations will be used. Class articles may both complement the reading project or it may well cover material in addition to the designated readings. This course uses effective learning activities, which needs a much greater involvement of the college student in class than does the traditional lecture method. In the classroom, the trainer will behave as discussion head, with emphasis on students 'active participation. The particular nature of the watch case discussion strategy demands if you are an00 of presence, preparation and contribution in the lecture. Students are expected to be totally engaged in the whole...

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